Deadline Approaches for Investors in Applied Therapeutics Securities Fraud Case

The Law Offices of Frank R. Cruz remind investors of the February 18, 2025 deadline to join as a lead plaintiff in a class action lawsuit concerning alleged securities fraud. This lawsuit pertains to investors who purchased Applied Therapeutics, Inc. (“Applied Therapeutics” or the “Company”) APLT securities from January 3, 2024, to December 2, 2024, inclusive (the “Class Period”).

IF YOU ARE AN INVESTOR WHO LOST MONEY ON APPLIED THERAPEUTICS, INC. (APLT), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.

Key Events Leading to the Lawsuit

On November 27, 2024, Applied Therapeutics announced that it received a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) regarding its New Drug Application (“NDA”) for the drug govorestat, used to treat Classic Galactosemia. The letter indicated that the FDA had finished reviewing the application but could not approve it in its current form due to deficiencies in the clinical trial data.

Following this announcement, Applied Therapeutics’ stock dropped significantly, falling $6.54 or 76.3%, to close at $2.03 per share on November 29, 2024. This sharp decline impacted many investors adversely.

Moreover, on December 2, 2024, the Company revealed it had received a “warning letter” from the FDA concerning electronic data capture issues and a dosing error during the govorestat clinical trial. This revelation led to another drop in stock price, which fell $0.46, or 26.3%, closing at $1.29 per share on December 5, 2024, further harming investors.

Understanding the Lawsuit

The submitted complaint asserts that during the Class Period, the Defendants made materially false and misleading statements while failing to disclose adverse facts about the Company’s business and operations. Notably, they allegedly did not reveal that Applied Therapeutics was not following proper trial protocols, which posed serious risks to the FDA approval of their drug. Consequently, the positive comments made about the Company’s prospects lacked a reasonable basis.

Important Deadline for Investors

If you acquired Applied Therapeutics securities between January 3, 2024, and December 2, 2024, remember that the deadline to apply as the lead plaintiff in this class action is February 18, 2025.

How to Get Involved or Learn More:

To find out more about this class action or if you have questions regarding your rights or interests in this lawsuit, please contact:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email: [email protected]
Call: 310-914-5007
Website: www.frankcruzlaw.com
Follow on Twitter: twitter.com/FRC_LAW

When reaching out via email, please include your mailing address, phone number, and the number of shares purchased.

To remain in the class action, you do not need to take immediate action. You may choose to retain legal counsel or let your current status as an absent class member be. This press release may be considered Attorney Advertising in accordance with applicable laws and ethical standards in some areas.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250214372050/en/

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
Email: [email protected]
Website: www.frankcruzlaw.com