Biotechnology Analyst Merle, along with Key Opinion Leader, Dr. Brad Lewis, Medical Director at Machaon Diagnostics, discuss the emerging competitive landscape in Paroxysmal Nocturnal Hemoglobinuria (PNH) ahead of Apellis' APL-2 Phase 3 data and comparison with Regeneron's Pozelimab, Roche's SKY059, Achillion's Danicopan, Alexion's Soliris and Novartis' LNP023 on an Analyst/Industry conference call to be held on December 17 at 11 am.

Oppenheimer analyst Hartaj Singh raised the firm's price target on Regeneron to $1,175 from $1,125 and keeps an Outperform rating on the shares ahead of the Q1 earnings report on May 2. Oppenheimer believes the areas of focus will be the status and dynamics of the Eylea High Dose launch, questions around the impending Dupixent COPD PDUFA, the status of the two oncology approvals expected in 2024, updates on various pipeline projects in immunology and oncology, and comments on capital allocation and financial planning by the new CFO at the company.

Apellis Pharmaceuticals announced that the European Medicines Agency has reset the review of the marketing authorization application for intravitreal pegcetacoplan for geographic atrophy to the last phase of the initial assessment. The procedure is expected to be led by the original rapporteurs, and EMA has stated their intent to convene a new expert group meeting. Apellis anticipates an opinion from the Committee for Medicinal Products for Human Use no later than July 2024. The update follows the judgment by the Court of Justice of the European Union on March 14, 2024, which ruled on the organization of EMA's expert groups. The judgment has implications on EMA's policy for handling competing interests of experts. This decision by EMA is strictly procedural in response to the CJEU judgment and is not related to the pegcetacoplan data package. Apellis will continue to work closely with EMA on the review of the pegcetacoplan marketing application.

TD Cowen analyst Yaron Werber raised the firm's price target on BeiGene (BGNE) to $236 from $235 and keeps a Buy rating on the shares. The firm updated its model to reflect lower collaborative revenue given termination of Novartis (NVS) agreement for tisle in Sep 2023.