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
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Ask
--
B/A Size
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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

Tech jobs gain despite wave of layoff announcements, but warning signs abound

5:10 pm ET December 2, 2022 (MarketWatch)
Print

By Levi Sumagaysay

Tech job postings declined for the eighth straight month and many announced layoffs may not have shown up in the numbers yet for a variety of reasons

The tech industry continued to add jobs despite the tens of thousands of layoffs that were announced in November, though tech job postings continued a downward slide, according to an analysis of U.S. employment numbers released Friday.

U.S. tech companies actually added 14,400 workers in November, according to the Computing Technology Industry Association, or CompTIA, capping two straight years of monthly job growth in the tech sector. In addition, the group said tech jobs in all sectors grew by 137,000 positions, and that the unemployment rate for tech workers fell to 2% from 2.2% in October. CompTIA's analysis is based on the Bureau of Labor Statistics' monthly jobs data, as well as hiring data from Lightcast.

While those numbers belie a downturn for tech, the report from CompTIA -- which calls itself "a leading voice and advocate" for the tech industry -- also showed reason for concern about hiring moving forward. Job postings for future tech hiring fell in November -- though they totaled almost 270,000 -- continuing a drop in tech job postings every month since April.

See: U.S. adds 263,000 jobs in November and wages rise sharply -- far too much for the Fed's liking

Many of the recently announced tech job cuts are not reflected in this analysis. For example, DoorDash Inc(DASH) just announced cuts earlier this week. Some announced layoffs aren't scheduled to take effect until the next month or two in accordance with laws that require 60 to 90 days of notice for job cuts, such as the thousands of layoffs at Twitter and Facebook parent Meta Platforms Inc. (META)

In addition, some industry giants including Amazon.com Inc. (AMZN) have either indicated more layoffs may be coming, or are reportedly considering them, as is the case with Google (GOOGL)(GOOGL). Against the steady drumbeat of layoff announcements, experts have issued mixed forecasts about how bad the tech downturn will be and how long it will last.

Read: Tech layoffs approach Great Recession levels

Tech companies hired for these types of jobs in November, according to CompTIA: IT services and custom software development (added 8,100 jobs from the month before); data processing, hosting and related services (4,100); other information services, including search engines (2,100); and computer and electronic products manufacturing (1,900). There was a 2,300 decline in hiring for telecommunications jobs.

CompTIA's report also showed that the top three industries that each had more than 30,000 job postings for tech positions in November were professional, scientific and technical services; finance and insurance; and manufacturing.

-Levi Sumagaysay

	

(END) Dow Jones Newswires

December 02, 2022 17:10 ET (22:10 GMT)

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