Breaking Down SG&A Expenses: Apellis Pharmaceuticals, Inc. vs Galapagos NV

A Tale of Two Biotechs: SG&A Expenses Over Time

In the competitive world of biotechnology, managing operational costs is crucial for success. Apellis Pharmaceuticals, Inc. and Galapagos NV, two prominent players, have shown distinct trends in their Selling, General, and Administrative (SG&A) expenses from 2014 to 2023.

Apellis Pharmaceuticals has seen a dramatic increase in SG&A expenses, skyrocketing from a modest $2.9 million in 2014 to a staggering $500 million by 2023. This represents an exponential growth of over 17,000%, reflecting their aggressive expansion and investment in administrative capabilities.

In contrast, Galapagos NV's SG&A expenses have grown more steadily, peaking at approximately $239 million in 2022 before dropping to $94 million in 2023. This fluctuation suggests a strategic shift or cost optimization efforts.

These trends highlight the diverse strategies employed by biotech firms in managing operational costs, offering valuable insights into their business models and market positioning.