08:23 AM EST, 11/05/2024 (MT Newswires) -- Apellis Pharmaceuticals ( APLS ) reported a Q3 net loss Tuesday of $0.46 per diluted share, narrowing from a loss of $1.17 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.31.

Total revenue for the quarter ended Sept. 30 was $196.8 million, up from $110.4 million a year earlier.

Analysts surveyed by Capital IQ expected $199.8 million.

As of Sept. 30, the company said it had $396.9 million in cash and cash equivalents. The company said projected revenue and cash are expected to be enough to fund operations to positive cash flow.

Apellis shares were down 4% in recent premarket activity Tuesday.

Price: 27.70, Change: -0.28, Percent Change: -1.00