• The European Medicines Agency reaffirmed its rejection of Apellis' Syfovre for treating geographic atrophy, despite the company's efforts to re-evaluate the supporting evidence.
• This decision prevents Syfovre from entering the European market, where approximately 2.5 million individuals are affected by geographic atrophy, an irreversible cause of blindness.
• The rejection was based on concerns that Syfovre did not demonstrate clinically meaningful benefits and carried significant risks of adverse events with regular injections.
• Apellis plans to restructure its European operations and reduce its workforce by about 40 employees following the negative outcome, while awaiting decisions in other regions.