2019 Q2 Form 10-Q Financial Statement
#000156459019016638 Filed on May 07, 2019
Income Statement
| Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $12.80M | $8.200M | $4.000M |
| YoY Change | 116.95% | 105.0% | 122.22% |
| % of Gross Profit | |||
| Research & Development | $50.70M | $40.48M | $17.40M |
| YoY Change | 84.11% | 132.6% | 141.71% |
| % of Gross Profit | |||
| Depreciation & Amortization | $50.00K | $41.00K | |
| YoY Change | |||
| % of Gross Profit | |||
| Operating Expenses | $50.70M | $40.48M | $17.40M |
| YoY Change | 84.11% | 132.6% | 91.24% |
| Operating Profit | -$63.48M | -$48.65M | -$21.44M |
| YoY Change | 89.56% | 126.94% | 136.82% |
| Interest Expense | -$7.800M | -$500.0K | -$266.7K |
| YoY Change | -4338.92% | 87.49% | -2737.32% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $200.0K | -$253.0K | $0.00 |
| YoY Change | -708.51% | ||
| Pretax Income | -$71.10M | -$50.60M | -$21.70M |
| YoY Change | 113.51% | 133.18% | 138.46% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$71.09M | -$50.57M | -$21.74M |
| YoY Change | 113.26% | 132.67% | 140.16% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$1.123M | -$873.9K | -$430.6K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 63.23M | 50.37M | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $289.1M | $288.2M | $152.9M |
| YoY Change | 13.91% | 88.49% | |
| Cash & Equivalents | $289.1M | $288.2M | $152.9M |
| Short-Term Investments | |||
| Other Short-Term Assets | $3.356M | $15.57K | $8.300M |
| YoY Change | 43512.67% | -99.81% | |
| Inventory | |||
| Prepaid Expenses | $13.98M | $20.51M | |
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $308.4M | $310.5M | $163.1M |
| YoY Change | 15.64% | 90.39% | |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $1.439M | $1.041M | |
| YoY Change | |||
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $207.9K | $162.3K | $100.0K |
| YoY Change | 78.97% | 62.35% | |
| Total Long-Term Assets | $8.291M | $7.825M | $100.0K |
| YoY Change | 7038.44% | 7725.22% | |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $308.4M | $310.5M | $163.1M |
| Total Long-Term Assets | $8.291M | $7.825M | $100.0K |
| Total Assets | $316.7M | $318.4M | $163.2M |
| YoY Change | 18.7% | 95.07% | |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $13.81M | $11.92M | $4.600M |
| YoY Change | 169.08% | 159.05% | |
| Accrued Expenses | $20.23M | $7.343M | $2.700M |
| YoY Change | 295.02% | 171.95% | |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $0.00 | $0.00 | |
| YoY Change | |||
| Total Short-Term Liabilities | $35.59M | $20.39M | $7.300M |
| YoY Change | 247.09% | 179.27% | |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $6.700M | $6.700M | $26.60M |
| YoY Change | -75.0% | -74.81% | |
| Other Long-Term Liabilities | $250.0K | $234.9K | $300.0K |
| YoY Change | -16.67% | -21.69% | |
| Total Long-Term Liabilities | $250.0K | $234.9K | $26.90M |
| YoY Change | -99.08% | -99.13% | |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $35.59M | $20.39M | $7.300M |
| Total Long-Term Liabilities | $250.0K | $234.9K | $26.90M |
| Total Liabilities | $157.6M | $93.60M | $34.20M |
| YoY Change | 322.57% | 173.68% | |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$398.4M | -$327.3M | |
| YoY Change | 94.99% | ||
| Common Stock | $6.367K | $6.322K | |
| YoY Change | 13.39% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $159.1M | $224.8M | $129.0M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $316.7M | $318.4M | $163.2M |
| YoY Change | 18.7% | 95.07% |
Cashflow Statement
| Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$71.09M | -$50.57M | -$21.74M |
| YoY Change | 113.26% | 132.67% | 140.16% |
| Depreciation, Depletion And Amortization | $50.00K | $41.00K | |
| YoY Change | |||
| Cash From Operating Activities | -$39.91M | -$35.56M | -$22.94M |
| YoY Change | 30.04% | 55.05% | 172.07% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$190.0K | $875.0K | |
| YoY Change | |||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | |||
| YoY Change | |||
| Cash From Investing Activities | -$190.0K | -$875.0K | |
| YoY Change | |||
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $109.9M | ||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 40.96M | 148.4M | 222.7K |
| YoY Change | -68.88% | 66545.71% | |
| NET CHANGE | |||
| Cash From Operating Activities | -39.91M | -35.56M | -22.94M |
| Cash From Investing Activities | -190.0K | -875.0K | |
| Cash From Financing Activities | 40.96M | 148.4M | 222.7K |
| Net Change In Cash | 860.0K | 112.0M | -22.71M |
| YoY Change | -99.15% | -593.03% | 169.43% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$39.91M | -$35.56M | -$22.94M |
| Capital Expenditures | -$190.0K | $875.0K | |
| Free Cash Flow | -$39.72M | -$36.44M | |
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2019Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
63232476 | |
| CY2018Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
176267666 | |
| CY2019Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
288246706 | |
| CY2018Q4 | apls |
Refundable Research And Development Credit Current
RefundableResearchAndDevelopmentCreditCurrent
|
1473591 | |
| CY2019Q1 | apls |
Refundable Research And Development Credit Current
RefundableResearchAndDevelopmentCreditCurrent
|
1755639 | |
| CY2018Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
24333851 | |
| CY2019Q1 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
20509948 | |
| CY2018Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
364113 | |
| CY2019Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
15570 | |
| CY2018Q4 | us-gaap |
Assets Current
AssetsCurrent
|
202439221 | |
| CY2019Q1 | us-gaap |
Assets Current
AssetsCurrent
|
310527863 | |
| CY2019Q1 | us-gaap |
Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
|
6621807 | |
| CY2018Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
977918 | |
| CY2019Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1041063 | |
| CY2019Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
162345 | |
| CY2019Q1 | us-gaap |
Assets
Assets
|
318353078 | |
| CY2019Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
11916152 | |
| CY2019Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
7342601 | |
| CY2018Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
1666667 | |
| CY2019Q1 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
1127720 | |
| CY2018Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
17024607 | |
| CY2019Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
20386473 | |
| CY2019Q1 | apls |
Development Derivative Liabilities Noncurrent
DevelopmentDerivativeLiabilitiesNoncurrent
|
60736000 | |
| CY2018Q4 | us-gaap |
Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
|
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| CY2019Q1 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
5566811 | |
| CY2018Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
158783 | |
| CY2019Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
234932 | |
| CY2019Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-120645 | |
| CY2018Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
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| CY2019Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-327340214 | |
| CY2018Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
921805 | |
| CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
160972655 | |
| CY2019Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
552209429 | |
| CY2018Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-122807 | |
| CY2018Q4 | us-gaap |
Long Term Line Of Credit
LongTermLineOfCredit
|
18722321 | |
| CY2019Q1 | us-gaap |
Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
|
6673970 | |
| CY2018Q4 | us-gaap |
Liabilities
Liabilities
|
42560904 | |
| CY2019Q1 | us-gaap |
Liabilities
Liabilities
|
93598186 | |
| CY2018Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | |
| CY2019Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
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| CY2018Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
5628 | |
| CY2019Q1 | us-gaap |
Common Stock Value
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|
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| CY2018Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
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| CY2018Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2018Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
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| CY2018Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
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| CY2018Q4 | us-gaap |
Common Stock Shares Outstanding
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Research And Development Expense
ResearchAndDevelopmentExpense
|
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| CY2019Q1 | us-gaap |
Research And Development Expense
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|
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General And Administrative Expense
GeneralAndAdministrativeExpense
|
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| CY2019Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
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Operating Income Loss
OperatingIncomeLoss
|
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| CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
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| CY2018Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
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| CY2019Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
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| CY2018Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
| CY2019Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
| CY2018Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
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| CY2019Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | |
| CY2018Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
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| CY2019Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
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| CY2018Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
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| CY2019Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2019Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2019Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | |
| CY2019Q1 | us-gaap |
Common Stock Shares Issued
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|
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| CY2019Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
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| CY2018Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
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| CY2019Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
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| CY2019Q1 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
-736000 | |
| CY2018Q1 | apls |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
667087 | |
| CY2019Q1 | apls |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
593505 | |
| CY2018Q1 | us-gaap |
Investment Income Nonoperating
InvestmentIncomeNonoperating
|
400401 | |
| CY2019Q1 | us-gaap |
Investment Income Nonoperating
InvestmentIncomeNonoperating
|
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| CY2019Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
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| CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
2162 | |
| CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
2162 | |
| CY2018Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-21736304 | |
| CY2018Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.43 | |
| CY2019Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.87 | |
| CY2018Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
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|
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| CY2019Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
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| CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
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| CY2018Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
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| CY2018Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
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| CY2018Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
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| CY2019Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
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| CY2019Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
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| CY2019Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
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| CY2018Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-21736304 | |
| CY2019Q1 | us-gaap |
Profit Loss
ProfitLoss
|
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| CY2018Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1610188 | |
| CY2019Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4558588 | |
| CY2019Q1 | apls |
Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
|
72725 | |
| CY2019Q1 | us-gaap |
Depreciation
Depreciation
|
40503 | |
| CY2018Q1 | us-gaap |
Accretion Expense
AccretionExpense
|
17073 | |
| CY2019Q1 | us-gaap |
Accretion Expense
AccretionExpense
|
18777 | |
| CY2018Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
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| CY2019Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
104172 | |
| CY2018Q1 | us-gaap |
Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
|
-531204 | |
| CY2019Q1 | us-gaap |
Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
|
-275218 | |
| CY2018Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
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| CY2019Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
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| CY2018Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
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| CY2019Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-24854 | |
| CY2019Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
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| CY2019Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
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| CY2018Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-180904 | |
| CY2019Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
2764408 | |
| CY2018Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
5708 | |
| CY2019Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
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| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-22935249 | |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-35560484 | |
| CY2019Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
875111 | |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-875111 | |
| CY2019Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
110262000 | |
| CY2018Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
2664 | |
| CY2019Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
334462 | |
| CY2019Q1 | apls |
Proceeds From Development Derivative Liability
ProceedsFromDevelopmentDerivativeLiability
|
60000000 | |
| CY2018Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
225361 | |
| CY2019Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
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| CY2019Q1 | us-gaap |
Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
|
21701292 | |
| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
222697 | |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
148418251 | |
| CY2019Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-3616 | |
| CY2018Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-22712552 | |
| CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
111979040 | |
| CY2017Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
175643529 | |
| CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
176267666 | |
| CY2018Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
152930977 | |
| CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
288246706 | |
| CY2018Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
551750 | |
| CY2019Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
588473 | |
| CY2019Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of Organization and Operations </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Apellis Pharmaceuticals, Inc. (the “Company”) is a clinical-stage biopharmaceutical company focused on the development of novel therapeutic compounds to treat disease 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. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company was incorporated in September 2009 under the laws of the State of Delaware and has its principal office in Crestwood, Kentucky. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s operations since inception have been limited to organizing and staffing the Company, acquiring rights to product candidates, business planning, raising capital and developing its product candidates. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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”). </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Development Derivative Liability </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On February 28, 2019, the Company entered into a development funding agreement with SFJ Pharmaceuticals Group (“SFJ”) under which SFJ agreed to provide funding to the Company to support the development of APL-2 for the treatment of patients with <font style="color:#000000;">paroxysmal nocturnal hemoglobinuria (“PNH”) (“SFJ Agreement”). Pursuant to the agreement, SFJ paid the Company $60.0 million following the signing of the agreement, and agreed to pay the Company up to an additional $60.0 million in the aggregate in three equal installments upon the achievement of specified development milestones with respect to the Company’s Phase 3 program for APL-2 in PNH and subject to the Company having cash resources at the time sufficient to fund at least 10 months of the Company’s operations. The Company expects that those milestones will occur during 2019. In addition, upon the mutual agreement of the Company and SFJ, at any time after the earlier of the date that the Company has reviewed the primary endpoint data from its PEGASUS Phase 3 trial of APL-2 in patients with PNH and March 31, 2020, SFJ may fund an additional $50.0 million of the Company’s development costs (the “Additional SFJ Funding”).</font></p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Follow-on Public Offering</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On March 11, 2019, the Company issued and sold 6,900,000 shares of its common stock at a price per share of $17.00 in a follow-on public offering <font style="color:#000000;">(“2019 follow-on offering”)</font>.  The Company received net proceeds of $109.6 million after deducting underwriting discounts and commissions of $7.0 million and offering costs of $0.7 million. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On April 23, 2018, the Company issued and sold 5,500,000 shares of its common stock at a price per share of $25.50 in a follow-on public offering <font style="color:#000000;">(“2018 follow-on offering”)</font>.  The Company received net proceeds of $131.2 million after deducting underwriting discounts and commissions of $8.4 million and offering costs of $0.5 million.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:2.27%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:2.26%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;"> Liquidity and Financial Condition </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying unaudited condensed consolidated financial statements have been prepared on the basis of the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As of May 7, 2019, the date of issuance of these unaudited condensed consolidated financial statements, the Company believes that its cash and cash equivalents as of March 31, 2019 of $288.2 million<font style="font-size:12pt;"> </font>will be sufficient to fund its operations for at least the next twelve months from the issuance of the unaudited interim consolidated financial statements. The future viability beyond that point is dependent on its ability to raise additional capital to finance its operations.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is subject to risks common to other life science companies in the development stage including, but not limited to, uncertainty of product development and commercialization, lack of marketing and sales history, development by its competitors of new technological innovations, dependence on key personnel, market acceptance of products, product liability, protection of proprietary technology, ability to raise additional financing, and compliance with FDA and other government regulations. If the Company does not successfully commercialize any of its product candidates, it will be unable to generate recurring product revenue or achieve profitability. Management’s plans in order to meet its short-term and longer-term operating cash flow requirements include obtaining additional funding. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">There are uncertainties associated with the Company’s ability to (1) obtain additional debt or equity financing (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 capital to fund its operations from any of these, or is not able to obtain such 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. </p> | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
1691742 | |
| CY2019Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="margin-bottom:0pt;margin-top:12pt;margin-left:2.26%;text-indent:2.28%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="margin-bottom:0pt;margin-top:12pt;margin-left:2.26%;text-indent:2.28%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain prior year amounts have been reclassified to conform to the 2019 presentation. </p> | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
1320200 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
1353133 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
2829649 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
1154778 | |
| CY2018Q4 | apls |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
3481570 | |
| CY2019Q1 | apls |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
4702232 | |
| CY2018Q4 | apls |
Accrued Payroll Liabilities Current
AccruedPayrollLiabilitiesCurrent
|
269046 | |
| CY2019Q1 | apls |
Accrued Payroll Liabilities Current
AccruedPayrollLiabilitiesCurrent
|
1777244 | |
| CY2018Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1352386 | |
| CY2019Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
863125 | |
| CY2019Q1 | 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 5 years. Many leases also include options to terminate the leases within 1 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 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
|
true | |
| CY2019Q1 | apls |
Lessee Operating Lease Maximum Term Of Options To Terminate Lease
LesseeOperatingLeaseMaximumTermOfOptionsToTerminateLease
|
P1Y | |
| CY2019Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
6600000 | |
| CY2019Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
6694531 | |
| CY2019Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P5Y3M14D | |
| CY2019Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0854 | |
| CY2019Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
403542 | |
| CY2019Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
330816 | |
| CY2019Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
6940332 | |
| CY2019Q1 | apls |
Estimated Termination Costs And Other Fees
EstimatedTerminationCostsAndOtherFees
|
1768400 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
8349502 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
1654971 | |
| CY2018Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
136215 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
1251720 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
1292025 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
975750 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
998350 | |
| CY2018Q4 | apls |
Operating Leases Future Minimum Payments Due In Five Years And Thereafter
OperatingLeasesFutureMinimumPaymentsDueInFiveYearsAndThereafter
|
2341219 | |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
6859064 | |
| CY2019Q1 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
0 | |
| CY2018Q1 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
0 | |
| CY2019Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | |
| CY2018Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | |
| CY2018Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7432380 | |
| CY2019Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
9205097 |
