Waltham, Massachusetts-based Apellis Pharmaceuticals, a clinical-stage biopharmaceutical company discovering and developing therapeutic compounds for autoimmune and inflammatory diseases, has announced a corporate restructuring and reductions in its workforce and external expenses.
The decision, driven partially by products and their regulatory approvals, will impact 225 employees or approximately 25% of the company's workforce and will be substantially completed in the third quarter of 2023.
CEO and co-founder Dr. Cedric Francois noted, “We are taking important actions to strengthen our ability to invest in growth opportunities and support the Company's long-term success, including maximizing the significant opportunity with SYFOVRE. As a more focused organization, we believe these initiatives put Apellis in a stronger position to create value for shareholders and continue delivering on our mission for patients now and in the future.”
“These were difficult, but necessary, decisions. We are thankful for the commitment and contributions of our colleagues who have worked relentlessly to advance life-changing medicines for some of the most challenging diseases patients face. As we move forward, we are committed to supporting our teammates throughout this process.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?