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Apellis announces initial public offering pricing

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Apellis Pharmaceuticals announced it will offer 10.7 million shares of common stock at an initial public offering price of $14 per share, for total gross proceeds of $150 million, according to a company press release.

Underwriters will have a 30-day option to purchase up to 1.607 million additional shares of stock at the public offering price to cover over-allotments.

The offering is expected to close on Nov. 13.