Apellis Stock Disappears From Nasdaq as Biogen $41 Billion Buyout Faces Final Hurdle
Biogen has finished its acquisition of Apellis Pharmaceuticals, and trading in the APLS ticker has ceased. Apellis is now a wholly owned unit of Biogen after the buyout. This is in focus now since the cash payout is done, but the remaining value isn’t settled. Former Apellis holders picked up $41 a share plus a CVR. That CVR, or contingent value right, could mean more money if Syfovre—Apellis’ drug for geographic atrophy, a late-stage vision-loss disease—hits certain sales goals.