Apellis Pharmaceuticals Inc
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Health Care : Biotechnology | Small Cap Growth
Company profile

Apellis Pharmaceuticals, Inc. is a commercial-stage biopharmaceutical company that is focused on developing therapeutic compounds to treat disease through the inhibition of the complement system. The Company is developing pegcetacoplan with Sobi for systemic administration in several indications, including paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy, immune complex membranoproliferative glomerulonephritis, amyotrophic lateral sclerosis, cold agglutinin disease, and hematopoietic stem cell transplantation thrombotic microangiopathy. The Company's advanced clinical programs targeting component 3 with Phase III clinical trials of its lead product candidate, pegcetacoplan, in multiple indications. Pegcetacoplan is a conjugate of a compstatin analogue, formulated both for ophthalmological administration by injections directly into the eye, and systemic administration by subcutaneous injection, which is an injection into the tissue under the skin.

Closing Price
$55.02
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
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Day's Low
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Volume
(Heavy Day)
Volume:
2,031,635

10-day average volume:
1,115,864
2,031,635

ConocoPhillips stock rallies toward a record after profit beat, raised dividend and $20 billion boost to repurchase program

7:36 am ET November 3, 2022 (MarketWatch)
Print

Shares of ConocoPhillips ran up 1.8% into record territory in premarket trading Thursday, after the oil producer reported third-quarter profit and production that beat expectations, boosted by a big jump in realized prices, and raised its dividend by 11% and increased its stock repurchase program by $20 billion. Net income surged to $4.5 billion, or $3.55 a share, from $2.4 billion, or $1.78 a share, in the year-ago period. Total average realized price jumped 46% to $83.07 per barrel of oil equivalent (BOE). Excluding nonrecurring items, adjusted earnings per share of $3.60 beat the FactSet consensus of $3.41. Production increased 13.6% to 1,754 thousand barrels of oil equivalent per day (MBOED), above the FactSet consensus of 1,733.5. The company did not report revenue for the quarter. For the fourth quarter, the company expects production of 1,740 to 1,800 (MBOED), surrounding the FactSet consensus of 1,779. Separately, the company raised its quarterly dividend to 51 cents a share from 46 cents, with the new dividend payable Dec. 1 to shareholders of record on Nov. 15. Based on Wednesday's stock closing price of $126.51, the new annual dividend rate implies a dividend yield of 1.61%, compared with the implied yield for the S&P 500 of 1.78%. The company increased its stock buyback program by $20 billion, bringing the repurchase authorization to $45 billion, which represents 27.9% of the company's market capitalization of $161.05 billion as of Wednesday's close. The stock has soared 38.5% over the past three months, while the S&P 500 has lost 9.5%.

-Tomi Kilgore

	

(END) Dow Jones Newswires

November 03, 2022 07:36 ET (11:36 GMT)

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