Deadline Alert: Applied Therapeutics, Inc. (APLT) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit
LOS ANGELES, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP reminds investors of the upcoming February 18, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Applied Therapeutics, Inc. ('Applied Therapeutics' or the 'Company') (NASDAQ: APLT) securities between January 3, 2024 and December 2, 2024, inclusive (the 'Class Period').
IF YOU SUFFERED A LOSS ON YOUR APPLIED THERAPEUTICS INVESTMENTS, TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS. CLICK HERE
What Happened?
On November 27, 2024, Applied Therapeutics disclosed that it had received a Complete Response Letter ('CRL') from the U.S. Food and Drug Administration ('FDA') regarding the New Drug Application ('NDA') for the Company's Classic Galactosemia drug, govorestat, stating that "[t]he CRL indicates that the FDA completed its review of the application and determined that it is unable to approve the NDA in its current form, citing deficiencies in the clinical application.'
On this news, Applied Therapeutics' stock price fell $6.54, or 76.3%, to close at $2.03 per share on November 29, 2024, thereby injuring investors.
Then, on December 2, 2024, Applied Therapeutics disclosed that it had received a 'warning letter' from the FDA regarding 'issues related to electronic data capture, which the Company believes were addressed in prior communications with the agency, including by providing detailed paper and video records,' as well as 'a dosing error in the dose-escalation phase' of the govorestat clinical trial.
On this news, Applied Therapeutics' stock price fell $0.46, or 26.3%, over the next few consecutive trading days to close at $1.29 per share on December 5, 2024, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Applied Therapeutics was not adhering to trial protocol and good clinical practices which, in turn, created an exceedingly severe risk that the trial data would be rejected by the FDA in the context of an NDA; and (2) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Applied Therapeutics securities during the Class Period, you may move the Court no later than February 18, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: [email protected]
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.
If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contact Us:
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Charles Linehan
Toll-Free: 888-773-9224
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