$APLS
Apellis Pharmaceuticals, Inc.

2023 Q4 Form 10-Q Financial Statement

#000095017023057117 Filed on November 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $146.4M $110.4M
YoY Change 545.89% 400.54%
Cost Of Revenue $19.91M $22.40M
YoY Change 580.75% 1522.01%
Gross Profit $126.5M $88.00M
YoY Change 540.72% 325.63%
Gross Profit Margin 86.4% 79.71%
Selling, General & Admin $141.7M $145.6M
YoY Change 67.96% 85.7%
% of Gross Profit 112.05% 165.45%
Research & Development $69.28M $79.42M
YoY Change -30.32% -16.58%
% of Gross Profit 54.78% 90.25%
Depreciation & Amortization $476.0K $460.0K
YoY Change 22.68% 14.71%
% of Gross Profit 0.38% 0.52%
Operating Expenses $211.0M $247.5M
YoY Change 14.8% 41.42%
Operating Profit -$84.52M -$137.1M
YoY Change -48.48% -10.37%
Interest Expense -$2.854M -$2.300M
YoY Change -9.77% -54.85%
% of Operating Profit
Other Income/Expense, Net $219.0K -$603.0K
YoY Change -189.02% -709.09%
Pretax Income -$87.15M -$140.0M
YoY Change -47.96% -26.63%
Income Tax $1.423M $200.0K
% Of Pretax Income
Net Earnings -$88.58M -$140.2M
YoY Change -46.64% -26.68%
Net Earnings / Revenue -60.51% -127.03%
Basic Earnings Per Share -$1.17
Diluted Earnings Per Share -$0.73 -$1.17
COMMON SHARES
Basic Shares Outstanding 118.5M 117.7M
Diluted Shares Outstanding 120.3K

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $351.2M $452.4M
YoY Change -36.36% -36.15%
Cash & Equivalents $351.2M $452.4M
Short-Term Investments
Other Short-Term Assets $22.41M $30.85M
YoY Change -38.87% 28.93%
Inventory $146.4M $98.55M
Prepaid Expenses $38.82M $44.62M
Receivables $206.4M $169.3M
Other Receivables $18.05M $17.70M
Total Short-Term Assets $766.3M $796.8M
YoY Change 6.51% -4.23%
LONG-TERM ASSETS
Property, Plant & Equipment $4.345M $4.790M
YoY Change -29.33% -15.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.309M $1.175M
YoY Change -91.71% -92.54%
Total Long-Term Assets $22.40M $21.45M
YoY Change -44.96% -47.63%
TOTAL ASSETS
Total Short-Term Assets $766.3M $796.8M
Total Long-Term Assets $22.40M $21.45M
Total Assets $788.7M $818.2M
YoY Change 3.75% -6.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.52M $18.19M
YoY Change 0.47% 29.03%
Accrued Expenses $127.8M $117.1M
YoY Change 34.34% 46.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $75.83M $44.60M
YoY Change 157.02% 176.23%
Total Short-Term Liabilities $247.6M $185.6M
YoY Change 47.72% 60.79%
LONG-TERM LIABILITIES
Long-Term Debt $332.9M $388.5M
YoY Change -18.5% -10.24%
Other Long-Term Liabilities $2.312M $946.0K
YoY Change -83.89% -51.19%
Total Long-Term Liabilities $2.312M $946.0K
YoY Change -99.45% -51.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $247.6M $185.6M
Total Long-Term Liabilities $2.312M $946.0K
Total Liabilities $594.2M $585.9M
YoY Change 0.65% 3.62%
SHAREHOLDERS EQUITY
Retained Earnings -$2.800B -$2.700B
YoY Change 21.74% 26.0%
Common Stock $12.00K $12.00K
YoY Change 9.09% 9.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $194.5M $232.3M
YoY Change
Total Liabilities & Shareholders Equity $788.7M $818.2M
YoY Change 3.75% -6.26%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$88.58M -$140.2M
YoY Change -46.64% -26.68%
Depreciation, Depletion And Amortization $476.0K $460.0K
YoY Change 22.68% 14.71%
Cash From Operating Activities -$97.88M -$169.1M
YoY Change -30.46% 9.5%
INVESTING ACTIVITIES
Capital Expenditures $95.00K $50.00K
YoY Change -88.84% -125.51%
Acquisitions
YoY Change
Other Investing Activities $99.00K $0.00
YoY Change -99.92% -100.0%
Cash From Investing Activities $4.000K -$50.00K
YoY Change -100.0% -100.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.913M 5.740M
YoY Change -75.46% -40.43%
NET CHANGE
Cash From Operating Activities -97.88M -169.1M
Cash From Investing Activities 4.000K -50.00K
Cash From Financing Activities -3.913M 5.740M
Net Change In Cash -101.8M -163.4M
YoY Change 212.59% 717.07%
FREE CASH FLOW
Cash From Operating Activities -$97.88M -$169.1M
Capital Expenditures $95.00K $50.00K
Free Cash Flow -$97.97M -$169.1M
YoY Change -30.81% 9.67%

Facts In Submission

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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Common Stock
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apls Payments For Development Liability
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apls Payments For Development Liability
PaymentsForDevelopmentLiability
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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2531000
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
381605000
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
553075000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
641755000
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
453500000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
585448000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
452414000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
584189000
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
1086000
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
1259000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
453500000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
585448000
us-gaap Interest Paid Net
InterestPaidNet
3286000
us-gaap Interest Paid Net
InterestPaidNet
5003000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
578000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
156000
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
98086000
us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1. Nature of Organization and Operations</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Apellis Pharmaceuticals, Inc. (the “Company”) is a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutic compounds to treat diseases with high unmet needs through the inhibition of the complement system, which is an integral component of the immune system, at the level of C3, the central protein in the complement cascade.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company was incorporated in September 2009 under the laws of the State of Delaware. The Company’s principal executive offices are located in Waltham, Massachusetts.</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company’s operations since inception have been limited to organizing and staffing the Company, acquiring rights to product candidates, business planning, raising capital, developing its product candidates, commercializing EMPAVELI (pegcetacoplan) for the treatment of paroxysmal nocturnal hemoglobinuria (“PNH”) and the commercializing of SYFOVRE (pegcetacoplan injection) for the treatment of geographic atrophy secondary to age-related macular degeneration (“GA”).</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is subject to risks common in the biotechnology industry including, but not limited to, raising additional capital, development by its competitors of new technological innovations, its ability to successfully complete preclinical and clinical development of product candidates and receive timely regulatory approval of products, market acceptance of the Company’s products, protection of proprietary technology, healthcare cost containment initiatives, and compliance with governmental regulations, including those of the U.S. Food and Drug Administration (“FDA”).</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Liquidity and Going Concern</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The accompanying unaudited condensed consolidated financial statements have been prepared on the basis of the realization of assets and t</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">he satisfaction of liabilities and commitments in the normal course of business. From inception to September 30, 2023, the Company has incurred cash outflows from operations, losses from operations and had an accumulated deficit of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">2.7</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> billion primarily as a result of expenses incurred through a combination of research and development activities related to our various product candidates and expenses supporting those activities.</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of November 1, 2023, the date of issuance of these unaudited condensed consolidated financial statements, the Company believes that its cash and cash equivalents of </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">452.4</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> as of September 30, 2023 combined with its cash flows generated from sales will be sufficient to fund its operations and capital expenditures for at least the next twelve months.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company’s future viability beyond that point is dependent on its ability to achieve commercial success for SYFOVRE and EMPAVELI. </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">There are uncertainties associated with the Company’s ability to (1) obtain additional debt or equity financing on terms that are favorable to the Company, (2) enter into collaborative agreements with strategic partners, and (3) succeed in its future operations. If the Company is not able to obtain the required funding for its operations or is not able to obtain funding on terms that are favorable to the Company, it could be forced to delay, reduce or eliminate its research and development programs or future commercialization efforts and its business could be materially harmed.</span></p>
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes, and management must select an amount that falls within that range of reasonable estimates. Estimates are used in the following areas, among others: accrued expenses, prepaid expenses, convertible debt and taxes.</span></p>
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AccountsReceivableNetCurrent
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PercentageOfQualifiedWagesPaidToEmployeesUnderEmployeeRetentionCredit
0.70
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MaximumCreditPerEmployeeForEachCalendarQuarter
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RefundFiledUnderCaresActRelatingToEmployeeRetentionCredit
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InventoryRawMaterials
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InventoryWorkInProcess
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InventoryWorkInProcess
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CY2023Q3 us-gaap Inventory Finished Goods
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CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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InventoryNet
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InventoryNet
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DownPaymentsForInventoryCurrent
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DownPaymentsForInventoryCurrent
13987000
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PrepaidResearchAndDevelopmentCurrent
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PrepaidResearchAndDevelopmentCurrent
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OtherPrepaidExpenseCurrent
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CY2023Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
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PrepaidExpenseCurrent
36350000
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RoyaltiesReceivableCurrent
2731000
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RoyaltiesReceivableCurrent
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CY2022Q4 apls Employee Retention Credit Current
EmployeeRetentionCreditCurrent
8711000
CY2023Q3 apls Receivable From Collaboration Agreement Current
ReceivableFromCollaborationAgreementCurrent
15000000
CY2022Q4 apls Receivable From Collaboration Agreement Current
ReceivableFromCollaborationAgreementCurrent
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CY2023Q3 apls Deposits And Other Current Assets
DepositsAndOtherCurrentAssets
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CY2022Q4 apls Deposits And Other Current Assets
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CY2023Q3 us-gaap Other Assets Current
OtherAssetsCurrent
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CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
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apls Maximum Number Of Employees With Employers Eligible For Refundable Tax Credit
MaximumNumberOfEmployeesWithEmployersEligibleForRefundableTaxCredit
500
CY2023Q3 apls Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
35133000
CY2022Q4 apls Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
34849000
CY2023Q3 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
10720000
CY2022Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
907000
CY2023Q3 apls Accrued Payroll Liabilities Current
AccruedPayrollLiabilitiesCurrent
40415000
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AccruedPayrollLiabilitiesCurrent
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CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
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CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
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CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
117089000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
95139000
CY2023Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.25
CY2023Q3 us-gaap Severance Costs1
SeveranceCosts1
10000000
CY2023Q3 apls Accrued Payroll Liabilities To Be Paid
AccruedPayrollLiabilitiesToBePaid
5700000
CY2023Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
75000
CY2022Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1088000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
222000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
4448000
CY2023Q3 apls Contractual Interest Expense
ContractualInterestExpense
822000
CY2022Q3 apls Contractual Interest Expense
ContractualInterestExpense
97000
apls Contractual Interest Expense
ContractualInterestExpense
2465000
apls Contractual Interest Expense
ContractualInterestExpense
386000
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
897000
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
1185000
us-gaap Interest Expense Debt
InterestExpenseDebt
2687000
us-gaap Interest Expense Debt
InterestExpenseDebt
4834000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
822000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3286000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3286000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
96225000
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
103619000
CY2023Q3 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
9722000
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
940000
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
92957000
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company enters into lease agreements with terms generally ranging from 2-7 years. Some of the Company’s lease agreements include Company options to extend the lease on a month-to-month basis or for set periods for up to five years. Many of these leases also include options to terminate the leases within one year or per other contractual terms. Renewal and termination options were generally not included in the lease term for the Company’s existing operating leases.
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
apls Lessee Operating Lease Maximum Term Of Options To Terminate Lease
LesseeOperatingLeaseMaximumTermOfOptionsToTerminateLease
P1Y
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15484000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18747000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
16619000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
19977000
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y11M1D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M25D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0721
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0726
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1800000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1700000
us-gaap Operating Lease Cost
OperatingLeaseCost
5200000
us-gaap Operating Lease Cost
OperatingLeaseCost
4600000
us-gaap Operating Lease Payments
OperatingLeasePayments
6186000
us-gaap Operating Lease Payments
OperatingLeasePayments
5499000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1778000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6471000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5329000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4388000
CY2023Q3 apls Lessee Operating Lease Liability Payments Due Year Four And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFourAndThereafter
556000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
18522000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1903000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
16619000
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
apls Minimum Percentage Of Tax Position Likelihood Of Being Realized Upon Examination By Taxing Authorities
MinimumPercentageOfTaxPositionLikelihoodOfBeingRealizedUponExaminationByTaxingAuthorities
0.50
CY2023Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16566000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18458000

Files In Submission

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apls-20230930_pre.xml Edgar Link unprocessable
0000950170-23-057117-index-headers.html Edgar Link pending
0000950170-23-057117-index.html Edgar Link pending
0000950170-23-057117.txt Edgar Link pending
0000950170-23-057117-xbrl.zip Edgar Link pending
apls-20230930.htm Edgar Link pending
apls-20230930.xsd Edgar Link pending
apls-ex31_1.htm Edgar Link pending
apls-ex31_2.htm Edgar Link pending
apls-ex32_1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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apls-20230930_cal.xml Edgar Link unprocessable
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apls-20230930_htm.xml Edgar Link completed
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apls-20230930_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable