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Shares of Apellis Pharmaceuticals Inc. jumped 24.5% in premarket trading on Tuesday after the company said it received a Priority Review designation from the Food and Drug Administration for its geographic atrophy treatment candidate. The target action date is Nov. 26, and the FDA said it does not plan to hold an advisory committee meeting. Apellis’ stock is down 5.3% this year, while the broader S&P 500 has declined 18.9%.
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