$APLS
Apellis Pharmaceuticals, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024053921 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $199.7M $172.3M
YoY Change 110.26% 284.26%
Cost Of Revenue $23.10M $20.21M
YoY Change 175.69% 158.79%
Gross Profit $176.6M $152.1M
YoY Change 103.93% 310.71%
Gross Profit Margin 88.43% 88.27%
Selling, General & Admin $128.1M $129.5M
YoY Change 15.0% 26.85%
% of Gross Profit 72.53% 85.14%
Research & Development $77.95M $84.70M
YoY Change -18.51% -23.02%
% of Gross Profit 44.14% 55.68%
Depreciation & Amortization $449.0K $444.0K
YoY Change 5.65% 5.46%
% of Gross Profit 0.25% 0.29%
Operating Expenses $229.1M $234.4M
YoY Change 10.67% 6.59%
Operating Profit -$29.44M -$62.09M
YoY Change -75.55% -64.54%
Interest Expense -$8.124M -$3.664M
YoY Change 506.72% 71.54%
% of Operating Profit
Other Income/Expense, Net $24.00K -$499.0K
YoY Change -138.1% 80.14%
Pretax Income -$37.54M -$66.25M
YoY Change -69.19% -62.67%
Income Tax $100.0K $200.0K
% Of Pretax Income
Net Earnings -$37.66M -$66.42M
YoY Change -69.14% -62.64%
Net Earnings / Revenue -18.86% -38.55%
Basic Earnings Per Share -$0.30 -$0.54
Diluted Earnings Per Share -$0.30 -$0.54
COMMON SHARES
Basic Shares Outstanding 121.4M 120.6M
Diluted Shares Outstanding 123.9M 123.0K

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $360.1M $325.9M
YoY Change -41.57% -57.4%
Cash & Equivalents $360.1M $325.9M
Short-Term Investments
Other Short-Term Assets $12.37M $12.12M
YoY Change -72.45% -64.72%
Inventory $152.8M $161.3M
Prepaid Expenses $28.97M $43.16M
Receivables $304.4M $267.8M
Other Receivables $4.418M $4.499M
Total Short-Term Assets $860.0M $811.4M
YoY Change -3.66% -14.97%
LONG-TERM ASSETS
Property, Plant & Equipment $3.836M $4.195M
YoY Change -82.62% -29.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.330M $1.313M
YoY Change 60.82% 65.57%
Total Long-Term Assets $44.51M $20.50M
YoY Change 94.43% -16.71%
TOTAL ASSETS
Total Short-Term Assets $860.0M $811.4M
Total Long-Term Assets $44.51M $20.50M
Total Assets $904.5M $831.9M
YoY Change -1.21% -15.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.27M $26.79M
YoY Change 39.16% -14.94%
Accrued Expenses $122.8M $101.4M
YoY Change 18.55% 42.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $77.29M
YoY Change -100.0% 157.02%
Total Short-Term Liabilities $169.2M $215.3M
YoY Change -3.24% 55.28%
LONG-TERM LIABILITIES
Long-Term Debt $457.2M $337.5M
YoY Change 19.43% -18.57%
Other Long-Term Liabilities $2.691M $2.658M
YoY Change -78.46% 665.99%
Total Long-Term Liabilities $2.691M $2.658M
YoY Change -99.32% 665.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $169.2M $215.3M
Total Long-Term Liabilities $2.691M $2.658M
Total Liabilities $640.2M $565.3M
YoY Change 12.27% -0.26%
SHAREHOLDERS EQUITY
Retained Earnings -$2.900B -$2.900B
YoY Change 11.54% 16.0%
Common Stock $12.00K $12.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $264.3M $266.7M
YoY Change
Total Liabilities & Shareholders Equity $904.5M $831.9M
YoY Change -1.21% -15.01%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$37.66M -$66.42M
YoY Change -69.14% -62.64%
Depreciation, Depletion And Amortization $449.0K $444.0K
YoY Change 5.65% 5.46%
Cash From Operating Activities -$8.339M -$133.0M
YoY Change -94.45% -25.13%
INVESTING ACTIVITIES
Capital Expenditures $90.00K $293.0K
YoY Change -75.81% 13.13%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$90.00K -$293.0K
YoY Change -75.81% 13.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 44.08M 108.2M
YoY Change 2725.38% -72.33%
NET CHANGE
Cash From Operating Activities -8.339M -133.0M
Cash From Investing Activities -90.00K -293.0K
Cash From Financing Activities 44.08M 108.2M
Net Change In Cash 35.65M -25.27M
YoY Change -123.93% -111.85%
FREE CASH FLOW
Cash From Operating Activities -$8.339M -$133.0M
Capital Expenditures $90.00K $293.0K
Free Cash Flow -$8.429M -$133.3M
YoY Change -94.4% -25.07%

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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56000
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
553075000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
327026000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
766358000
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
325923000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
765083000
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
1103000
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
327026000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
766358000
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
1643000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
1643000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
250000
CY2024Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
257000
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="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="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="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-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-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="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-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="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-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="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-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="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-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 commercialization of SYFOVRE (pegcetacoplan injection) for the treatment of geographic atrophy secondary to age-related macular degeneration (“GA”).</span></p><p style="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="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-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-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="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="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="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="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-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-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 March 31, 2024, 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;min-width:fit-content;">2.9</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> billion </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">primarily as a result of expenses incurred through a combination of research and development activities related to the Company’s various product candidates and expenses supporting those activities. The Company has primarily financed its operations through public offerings of its common stock, convertible debt, private placements of preferred stock prior to its initial public offering, the development funding agreement with SFJ Pharmaceuticals Group (“SFJ”), and the collaboration agreement with Sobi. The Company has financed a portion of its operations through product sales but has not yet achieved profitability.</span></p><p style="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="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-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of May 7, 2024, the date of issuance of these unaudited condensed consolidated financial statements, the Company believes that its cash and cash equivalents of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">325.9</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> as of March 31, 2024 together with cash anticipated to be generated from sales of EMPAVELI and from SYFOVRE will be sufficient to fund its operations and capital expenditure requirements</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> for at least the next twelve months.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2900000000
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
325900000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="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="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="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-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. </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Estimates are used in the following areas, among others: development liability, accrued expenses, prepaid expenses, convertible debt, reserves for variable consideration, reserves for excess or obsolete inventories, and income taxes.</span></p>
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
267800000
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
206400000
CY2024Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
42089000
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
32724000
CY2024Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
106161000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
82924000
CY2024Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
13033000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
30714000
CY2024Q1 us-gaap Inventory Net
InventoryNet
161283000
CY2023Q4 us-gaap Inventory Net
InventoryNet
146362000
CY2024Q1 us-gaap Inventory Write Down
InventoryWriteDown
7900000
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
9300000
CY2024Q1 apls Down Payments For Inventory Current
DownPaymentsForInventoryCurrent
13828000
CY2023Q4 apls Down Payments For Inventory Current
DownPaymentsForInventoryCurrent
16296000
CY2024Q1 apls Prepaid Research And Development Current
PrepaidResearchAndDevelopmentCurrent
12626000
CY2023Q4 apls Prepaid Research And Development Current
PrepaidResearchAndDevelopmentCurrent
13931000
CY2024Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
16709000
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
8593000
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
43163000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
38820000
CY2024Q1 apls Royalties Receivable Current
RoyaltiesReceivableCurrent
4499000
CY2023Q4 apls Royalties Receivable Current
RoyaltiesReceivableCurrent
3054000
CY2023Q4 apls Receivable From Collaboration Agreement Current
ReceivableFromCollaborationAgreementCurrent
15000000
CY2024Q1 apls Deposits And Other Current Assets
DepositsAndOtherCurrentAssets
7620000
CY2023Q4 apls Deposits And Other Current Assets
DepositsAndOtherCurrentAssets
4354000
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
12119000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
22408000
CY2024Q1 apls Development Cost Reimbursement Received
DevelopmentCostReimbursementReceived
15000000
CY2024Q1 apls Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
22912000
CY2023Q4 apls Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
28318000
CY2024Q1 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
6224000
CY2023Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
10197000
CY2024Q1 apls Accrued Payroll Liabilities Current
AccruedPayrollLiabilitiesCurrent
20789000
CY2023Q4 apls Accrued Payroll Liabilities Current
AccruedPayrollLiabilitiesCurrent
51781000
CY2024Q1 apls Accrued Goods Received Not Invoiced Current
AccruedGoodsReceivedNotInvoicedCurrent
15829000
CY2023Q4 apls Accrued Goods Received Not Invoiced Current
AccruedGoodsReceivedNotInvoicedCurrent
5902000
CY2024Q1 apls Product Revenue Reserves Current
ProductRevenueReservesCurrent
19222000
CY2023Q4 apls Product Revenue Reserves Current
ProductRevenueReservesCurrent
16625000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
16423000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
14983000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
101399000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
127806000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2465000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3286000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
96225000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
101976000
CY2024Q1 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
8079000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
788000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
93109000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
14994000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16745000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
16027000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
17895000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M20D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y9M29D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0725
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.072
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1500000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1700000
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2311000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2022000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5352000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6188000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5278000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
858000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17676000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1649000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
16027000
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2024Q1 apls Minimum Percentage Of Tax Position Likelihood Of Being Realized Upon Examination By Taxing Authorities
MinimumPercentageOfTaxPositionLikelihoodOfBeingRealizedUponExaminationByTaxingAuthorities
0.50
CY2024Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2024Q1 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
0
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15542000
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19145000

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