European Regulators May Decline Approval for Apellis Pharmaceuticals’ Eye Disease Drug\n\nApellis Pharmaceuticals, a leading biopharmaceutical company, has received disappointing news from European regulators regarding its eye disease drug, Syfovre. The company has been informed that the European drug regulators advisory panel may decline to back an authorization for its drug to treat a chronic eye disease. This news has caused a significant drop in the company’s stock, with APLS tumbling below its 200-day line.\n\nThe drug in question, a form of pegcetacoplan directly injected in the back of the eye, was expected to receive approval for use in patients with geographic atrophy, an advanced form of a disease that leads to degeneration of a part of the eye called macula. The company has been informed that the panel may vote against the drug at the next meeting on January 22-25.\n\nThis news comes as a disappointment for Apellis Pharmaceuticals, as the company has been working towards providing a treatment option for the more than 2.5 million people in Europe affected by this disease. The rejection from the European regulators may have a significant impact on the company’s future plans and developments.\n\nIn a statement, Apellis Pharmaceuticals expressed its disappointment and stated that it will continue to work closely with the European regulators to address any concerns and provide additional data to support the approval of Syfovre. The company remains committed to finding a treatment option for the millions of people affected by this disease.\n\n Apellis Pharmaceuticals has received news that the European drug regulators advisory panel may decline to back an authorization for its eye disease drug, Syfovre. This has caused a significant drop in the company’s stock and may have a significant impact on its future plans.

ChargePoint Holdings (NYSE:CHPT) Stock Soars Following Fed's Interest Rate Announcement\n\nChargePoint Holdings saw a significant increase in its stock price today, following the Federal Reserve's interest rate announcement yesterday. The company, which is the world's largest independent charging network for electric vehicles (EVs), saw its stock rally alongside other beaten-down stocks that are expected to benefit from lower interest rates and the boost they could give to the economy. As of 11:48 a.m. ET Thursday, ChargePoint's stock was up 18.5%.\n\nThe Fed's decision to not adjust interest rates and its forecast of three cuts to the fed funds rate has breathed new life into ChargePoint's stock. This news comes at a crucial time for the company, which has faced challenges this year due to slowing demand for EVs, macroeconomic challenges, and competition from Tesla. In the third quarter, ChargePoint's revenue fell by 12% to $110 million, and the company reported a loss of $158.2 million under generally accepted accounting principles (GAAP). Additionally, ChargePoint has nearly $300 million in debt on its balance sheet, although it is at a fixed rate, making it less sensitive to fluctuations in benchmark interest rates.\n\nWhile the Fed's forecast for lower interest rates may not directly impact ChargePoint's business, it has given the company's stock a much-needed boost. ChargePoint is currently under the guidance of a new management team, with a new CEO and chief financial officer recently appointed. The company's board of directors has also named Rick Wilmer as its new CEO. Wilmer faces several challenges as he aims to deliver positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by the fourth quarter of next year. Stronger demand for EVs would certainly help the company's efforts.\n\n ChargePoint Holdings saw a significant increase in its stock price today, following the Federal Reserve's interest rate announcement yesterday. The company, which is the world's largest independent charging network for electric vehicles (EVs), saw its stock rally alongside other beaten-down stocks that are expected to benefit from lower interest rates and the boost they could give to the economy. While the Fed's forecast for lower interest rates may not directly impact ChargePoint's business, it has given the company's stock a much-needed boost.