Apellis Pharmaceuticals Inc. (NASDAQ: APLS) saw its stock soar 13.16% in pre-market trading on Thursday, following the release of its second-quarter earnings report. The biotechnology company's shares climbed despite mixed financial results, as investors focused on the better-than-expected bottom line.

The earnings report revealed that Apellis posted a quarterly loss of $(0.33) per share, significantly beating analyst estimates of $(0.48) per share. This represents a 31.25% improvement over expectations, although it still marks a 10% increase in losses compared to the same period last year. However, the company's revenue fell short of projections, coming in at $178.494 million against an expected $187.790 million, representing a 4.95% miss and a 10.61% year-over-year decrease.

The substantial stock rally suggests that investors are placing more weight on Apellis' ability to control costs and narrow its losses, even as revenue growth faces challenges. The impressive earnings beat indicates that the company's cost management strategies may be paying off, potentially setting the stage for improved profitability in the future. However, the revenue miss and year-over-year decline highlight ongoing challenges in the competitive pharmaceutical market, which may require attention in upcoming quarters to sustain the current enthusiasm.