2021 Q3 Form 10-Q Financial Statement

#000156459021055235 Filed on November 08, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $5.650M $646.0K $0.00
YoY Change 774.61%
Cost Of Revenue $149.0K
YoY Change
Gross Profit $5.501M
YoY Change
Gross Profit Margin 97.36%
Selling, General & Admin $74.18M $57.00M $46.70M
YoY Change 30.15% 206.45% 264.84%
% of Gross Profit 1348.55%
Research & Development $87.73M $93.21M $87.09M
YoY Change -5.87% 81.62% 71.79%
% of Gross Profit 1594.86%
Depreciation & Amortization $282.0K $190.0K $90.00K
YoY Change 48.42% 216.67% 80.0%
% of Gross Profit 5.13%
Operating Expenses $133.6M $130.2M $115.5M
YoY Change 2.65% 153.7% 127.83%
Operating Profit -$128.1M -$129.6M -$115.5M
YoY Change -1.09% 85.21% 81.97%
Interest Expense -$6.357M -$6.100M -$3.100M
YoY Change 4.21% -1320.0% -60.26%
% of Operating Profit
Other Income/Expense, Net -$117.0K -$16.00K $5.000K
YoY Change 631.25% -73.77% -97.5%
Pretax Income -$195.6M -$135.7M -$118.6M
YoY Change 44.12% 94.41% 66.81%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$195.6M -$135.7M -$118.6M
YoY Change 44.12% 94.34% 66.85%
Net Earnings / Revenue -3461.43% -21006.19%
Basic Earnings Per Share -$2.28 -$1.79 -$1.57
Diluted Earnings Per Share -$2.283M -$1.79 -$1.57
COMMON SHARES
Basic Shares Outstanding 85.66K 75.51M
Diluted Shares Outstanding 85.66K

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $430.3M $728.2M $832.8M
YoY Change -40.91% 67.79% 188.07%
Cash & Equivalents $283.7M $415.6M $317.3M
Short-Term Investments $146.6M $312.6M $515.5M
Other Short-Term Assets $39.92M $14.20M $21.00M
YoY Change 181.11% 477.82% 525.75%
Inventory $1.677M
Prepaid Expenses
Receivables $3.500M
Other Receivables $0.00
Total Short-Term Assets $475.4M $742.3M $853.8M
YoY Change -35.95% 64.52% 176.84%
LONG-TERM ASSETS
Property, Plant & Equipment $27.44M $25.10M $15.40M
YoY Change 9.32% 1475.85% 970.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.82M $900.0K $900.0K
YoY Change 2435.89% 280.53% 332.96%
Total Long-Term Assets $50.26M $26.00M $16.30M
YoY Change 93.32% 71.48% 96.59%
TOTAL ASSETS
Total Short-Term Assets $475.4M $742.3M $853.8M
Total Long-Term Assets $50.26M $26.00M $16.30M
Total Assets $525.7M $768.3M $870.1M
YoY Change -31.58% 64.75% 174.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.984M $11.10M $9.900M
YoY Change -55.1% -6.22% -28.32%
Accrued Expenses $69.85M $60.77M $45.40M
YoY Change 14.94% 99.68% 124.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $15.33M
YoY Change
Total Short-Term Liabilities $94.24M $75.30M $58.00M
YoY Change 25.15% 68.94% 62.96%
LONG-TERM LIABILITIES
Long-Term Debt $189.6M $353.8M $348.8M
YoY Change -46.41% 151.64% 5105.97%
Other Long-Term Liabilities $299.2M $233.5M $231.2M
YoY Change 28.12% 93300.0% 92380.0%
Total Long-Term Liabilities $488.8M $587.3M $580.0M
YoY Change -16.78% 234820.0% 231900.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $94.24M $75.30M $58.00M
Total Long-Term Liabilities $488.8M $587.3M $580.0M
Total Liabilities $583.0M $662.5M $638.0M
YoY Change -12.0% 1378.06% 304.78%
SHAREHOLDERS EQUITY
Retained Earnings -$1.005B
YoY Change
Common Stock $8.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$57.33M $105.8M $232.1M
YoY Change
Total Liabilities & Shareholders Equity $525.7M $768.3M $870.1M
YoY Change -31.58% 64.74% 174.74%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$195.6M -$135.7M -$118.6M
YoY Change 44.12% 94.34% 66.85%
Depreciation, Depletion And Amortization $282.0K $190.0K $90.00K
YoY Change 48.42% 216.67% 80.0%
Cash From Operating Activities -$168.6M -$99.83M -$94.29M
YoY Change 68.91% 86.28% 136.26%
INVESTING ACTIVITIES
Capital Expenditures -$352.0K -$3.740M -$530.0K
YoY Change -90.59% 695.74% 178.95%
Acquisitions
YoY Change
Other Investing Activities $180.0M $202.5M -$287.3M
YoY Change -11.11%
Cash From Investing Activities $179.6M $198.8M -$287.8M
YoY Change -9.62% -42389.36% 151378.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.120M 920.0K 281.7M
YoY Change 130.43% -99.54% 587.67%
NET CHANGE
Cash From Operating Activities -168.6M -99.83M -94.29M
Cash From Investing Activities 179.6M 198.8M -287.8M
Cash From Financing Activities 2.120M 920.0K 281.7M
Net Change In Cash 13.14M 99.85M -100.4M
YoY Change -86.84% -31.09% -11777.91%
FREE CASH FLOW
Cash From Operating Activities -$168.6M -$99.83M -$94.29M
Capital Expenditures -$352.0K -$3.740M -$530.0K
Free Cash Flow -$168.3M -$96.09M -$93.76M
YoY Change 75.12% 80.89% 136.05%

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285308000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
416815000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
283745000
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
415560000
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
1563000
CY2020Q3 us-gaap Restricted Cash
RestrictedCash
1255000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
285308000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
416815000
us-gaap Interest Paid Net
InterestPaidNet
10265000
us-gaap Interest Paid Net
InterestPaidNet
12929000
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
327276000
us-gaap Nature Of Operations
NatureOfOperations
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:2.5%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:18pt;font-weight:bold;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"> </p></td> <td style="width:2.5%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:18pt;font-weight:bold;font-style:normal;color:#auto;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:bold;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">1.</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:18pt;font-weight:bold;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="font-weight:normal;color:#000000;"/><span style="font-size:10pt;color:#000000;">Nature of Organization and Operations </span></p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:3.4%;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 commercial-stage biopharmaceutical company focused on the discovery, development and commercialization 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:10pt;text-indent:3.4%;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 Waltham, Massachusetts.</p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:3.4%;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 and commercializing its product candidates. </p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:3.4%;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, its ability to successfully commercialize its 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”). Additionally, the Company is subject to risks arising from the Coronavirus Disease 2019 (COVID-19) pandemic, which could have adverse effects upon its business and operations, including on its ability to initiate, conduct and complete clinical trials, the timing of the initiation of planned and future clinical trials, regulatory activities and commercialization of its products.</p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:3.4%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Adoption of ASU 2020-06 Debt – Debt with Conversion and Other Options (Subtopic 470-20)</p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:3.4%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Effective January 1, 2021, the Company early adopted ASU 2020-06, <span style="font-style:italic;">Debt – Debt with Conversion and Other Options (Subtopic 470-20) </span>which<span style="font-style:italic;"> </span>reduces complexity in applying GAAP to certain financial instruments with characteristics of liability and equity. The ASU removes the guidance that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock. The ASU further revises the guidance to require entities to calculate diluted earnings per share for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted earnings per share when an instrument may be settled in cash or shares. The impact of the adoption of the statement increased net debt outstanding and decreased net equity by $149.7 million as of January 1, 2021. Of the $149.7 million decrease to net equity, $16.0 million was recorded to retained earnings. See Note 7, Long Term Debt for additional information.</p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:3.4%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Convertible Notes Exchange </p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:3.4%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In<span style="font-size:12pt;"> </span>January 2021, the Company entered into separate, privately negotiated exchange agreements to modify the conversion terms with certain holders of its convertible notes issued in September 2019 (the “2019 Convertible Notes”). Under the terms of these exchange agreements, the holders exchanged approximately $126.1 million in aggregate principal amount of 2019 Convertible Notes held by them for an aggregate of 3,906,869 shares of common stock issued by the Company. The Company also issued 69,491 shares for settlement of issuance costs paid to the Company’s advisor. The Company recognized a total loss on conversion of debt in the unaudited condensed consolidated statement of operations of $39.5 million. </p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:3.4%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In July 2021, the Company entered into separate, privately negotiated exchange agreements to modify the conversion terms with certain holders of the 2019 Convertible Notes and the 2020 Convertible Notes issued in May 2020 (the “2020 Convertible Notes”, and together with the 2019 Convertible Notes, the “Convertible Notes”). Under the terms of these exchange agreements, the holders exchanged approximately $201.1 million in aggregate principal amount of Convertible Notes held by them for an aggregate of 5,992,217 shares of common stock issued by the Company. The Company also has agreed to issue 78,419 shares for settlement of issuance costs paid to the Company’s advisor. The Company recognized a total loss on conversion of debt in the unaudited condensed consolidated statement of operations of $61.1 million for the three months ended September 2021.</p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:3.4%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company recognized a total loss on the conversion of debt of $100.6 million in the unaudited condensed statement of operations for the nine months ended September 30, 2021. As of September 30, 2021, the Company held in treasury Convertible Notes </p> <p style="margin-top:10pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">in the principal amount of $</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">327.2</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> million which notes have not been cancelled. See Note 7, Long Term Debt for additional information</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</span></p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:3.4%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Liquidity and Going Concern </p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:3.4%;color:#000000;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. </p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:3.4%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of November 8, 2021, the date of issuance of these unaudited condensed consolidated financial statements, the Company believes that its cash and cash equivalents and marketable securities of $430.3<span style="font-size:12pt;"> </span>million as of September 30, 2021, together with anticipated revenue from sales of EMPAVELI and development reimbursement payments from Swedish Orphan Biovitrum AB (Publ) (“Sobi”), will not be sufficient to fund its operations and capital expenditure requirements for at least twelve months from the date of issuance of these unaudited condensed consolidated financial statements which raises substantial doubt about our ability to continue as a going concern. <span style="color:#000000;">The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</span> </p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:3.4%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has generated only limited revenues to date from product sales and has not achieved profitability. The Company’s plans to meet its short-term and longer-term operating cash flow requirements include: (1) obtaining additional debt or equity financing on terms that are favorable to the Company (2) achieving its projected revenues from sales of EMPAVELI, (3) entering into collaborative agreements with strategic partners to obtain funding, and (4) succeeding in its future operations. If the Company is not able to obtain the required funding for its operations, or to obtain funding on a timely basis on terms that are<span style="color:#000000;"> favorable to the Company, or to achieve its projected revenue, 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>
CY2021Q3 apls Cash And Cash Equivalents And Marketable Securities
CashAndCashEquivalentsAndMarketableSecurities
430300000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:2.81%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentrations of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:3.44%;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:3.44%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> <span style="color:#000000;font-size:10pt;">Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash, cash equivalents, restricted cash, marketable securities and account receivables. The Company’s cash, cash equivalents, restricted cash and marketable securities are concentrated at financial institutions that management believes are creditworthy. Marketable securities consist of treasury notes and certificates of deposit. The Company's investment policy includes guidelines on the quality of the institutions and </span></p> <p style="margin-bottom:0pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="color:#000000;font-size:10pt;">financial instruments and defines allowable investments that the Company believes minimizes the exposure to concentrations of credit risk.</span></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:3.44%;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:3.44%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">The Company has entered into distribution agreements with a limited number of SPs and SDs, and all of the Company’s product sales will be to these customers. </span>The Company routinely assesses the creditworthiness of its customers. The Company does not require collateral. <span style="Background-color:#FFFFFF;">For the quarter ended September 30, 2021, a small number of customers represented all of the Company’s product revenue and accounts receivable balance at September 30, 2021. The Company </span>has not experienced any losses related to the accounts receivables and no allowance for credit losses has been recorded for the Company's accounts receivable balance as of September 30, 2021.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.13%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">The Company does not currently have any of its own manufacturing facilities, and therefore it depends on an outsourced manufacturing strategy for the production of EMPAVELI for commercial use and for the production of its product candidates for clinical trials. The Company has contracts in place with one third-party manufacturer of commercial drug product and one third-party manufacturer of the drug substance that is approved for the production of EMPAVELI active pharmaceutical ingredient (API). Although there are potential sources of supply other than the Company’s existing suppliers, any new supplier would be required to qualify under applicable regulatory requirements.</span></p>
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2021Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
1600000
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
1300000
CY2021Q3 apls Obsolete Inventory
ObsoleteInventory
0
CY2021Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3500000
CY2021Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
1400000
CY2021Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
300000
CY2020Q4 us-gaap Inventory Net
InventoryNet
0
CY2021Q3 apls Prepaid Research And Development Cost Current
PrepaidResearchAndDevelopmentCostCurrent
12000000.0
CY2020Q4 apls Prepaid Research And Development Cost Current
PrepaidResearchAndDevelopmentCostCurrent
8000000.0
CY2021Q3 apls Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
28670000
CY2020Q4 apls Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
47879000
CY2020Q4 apls Accrued License Fees Current
AccruedLicenseFeesCurrent
25050000
CY2021Q3 apls Accrued Payroll Liabilities Current
AccruedPayrollLiabilitiesCurrent
27124000
CY2020Q4 apls Accrued Payroll Liabilities Current
AccruedPayrollLiabilitiesCurrent
22896000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
14053000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
16110000
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
69847000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
111935000
CY2020Q4 apls Development Derivative Liabilities Gross
DevelopmentDerivativeLiabilitiesGross
257868000
CY2019Q4 apls Development Derivative Liabilities Gross
DevelopmentDerivativeLiabilitiesGross
134839000
CY2020Q1 apls Minimum Payment Of Additional Funding Amount
MinimumPaymentOfAdditionalFundingAmount
20000000
CY2021Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-17084000
CY2020Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-68406000
CY2021Q1 apls Development Derivative Liabilities Gross
DevelopmentDerivativeLiabilitiesGross
274952000
CY2020Q1 apls Development Derivative Liabilities Gross
DevelopmentDerivativeLiabilitiesGross
223245000
CY2021Q2 apls Minimum Payment Of Additional Funding Amount
MinimumPaymentOfAdditionalFundingAmount
-4000000
CY2021Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-21180000
CY2020Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
2770000
CY2021Q2 apls Development Derivative Liabilities Gross
DevelopmentDerivativeLiabilitiesGross
292132000
CY2020Q2 apls Development Derivative Liabilities Gross
DevelopmentDerivativeLiabilitiesGross
220475000
CY2020Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
2697000
CY2020Q3 apls Development Derivative Liabilities Gross
DevelopmentDerivativeLiabilitiesGross
217778000
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.
apls Lessee Operating Lease Maximum Term Of Options To Terminate Lease
LesseeOperatingLeaseMaximumTermOfOptionsToTerminateLease
P1Y
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
20930000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17719000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
22222000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
18902000
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0771
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0774
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1400000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1100000
us-gaap Operating Lease Cost
OperatingLeaseCost
4200000
us-gaap Operating Lease Cost
OperatingLeaseCost
3100000
us-gaap Operating Lease Payments
OperatingLeasePayments
4476000
us-gaap Operating Lease Payments
OperatingLeasePayments
3322000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5675000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6664000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1436000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5561000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5625000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4862000
CY2021Q3 apls Lessee Operating Lease Liability Payments Due Year Four And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFourAndThereafter
9261000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
26745000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4523000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
22222000
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1503000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-209000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-181000
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1164000
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-681000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2088000
apls Minimum Percentage Of Tax Position Likelihood Of Being Realized Upon Examination By Taxing Authorities
MinimumPercentageOfTaxPositionLikelihoodOfBeingRealizedUponExaminationByTaxingAuthorities
0.50
CY2021Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2020Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2020Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2021Q3 apls Contra Research And Development Expense
ContraResearchAndDevelopmentExpense
6400000
apls Contra Research And Development Expense
ContraResearchAndDevelopmentExpense
23600000
CY2020Q4 apls Contract Research And Development Receivable
ContractResearchAndDevelopmentReceivable
43000000.0
CY2020Q4 apls Contract Research And Development Current
ContractResearchAndDevelopmentCurrent
25000000.0
CY2020Q4 apls Contract Research And Development Long Term Assets
ContractResearchAndDevelopmentLongTermAssets
18000000.0
CY2021Q3 apls Contract Research And Development Current
ContractResearchAndDevelopmentCurrent
20000000.0
CY2021Q3 apls Contract Research And Development Long Term Assets
ContractResearchAndDevelopmentLongTermAssets
21600000
CY2021Q3 apls Estimated Termination Costs And Other Fees
EstimatedTerminationCostsAndOtherFees
2400000
us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
0
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18909000
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25784000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18909000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25784000

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