Deadline for Class Action Notification for Applied Therapeutics, Inc. Investors

New York, New York--(Newsfile Corp. - January 12, 2025) - Bleichmar Fonti & Auld LLP, a well-known securities law firm, has announced that a class action lawsuit has been filed against Applied Therapeutics, Inc. (NASDAQ: APLT) and several of its senior executives. This lawsuit is based on potential violations of federal securities laws.

If you have invested in Applied Therapeutics, it is advisable to gather further information by visiting BFA Law’s website.

Investors have until February 18, 2025, to request to be appointed as lead plaintiff in this case. The complaint has been filed under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, representing the interests of those who invested in Applied Therapeutics securities. The case is currently pending in the U.S. District Court for the Southern District of New York under the title Alexandru v. Applied Therapeutics, Inc., et al., No. 24-cv-09715.

Overview of the Lawsuit

Applied Therapeutics is a clinical-stage biopharmaceutical company focused on creating new drug candidates targeting rare diseases. Their leading drug candidate, govorestat, is designed to treat central nervous system (CNS) rare metabolic diseases like Galactosemia.

During the relevant period, the company indicated that its New Drug Applications were backed by significant reductions in galactitol, which purportedly led to improved clinical outcomes for pediatric patients along with a favorable safety record. The company also assured investors that its testing was thorough, emphasizing their attention to detail, such as videotaping procedures and employing expert trainers to oversee critical tests.

Stock Price Decline Following Negative News

The situation took a downturn on November 27, 2024, when Applied Therapeutics announced that the FDA had issued a Complete Response Letter regarding the NDA for govorestat, stating that they could not approve the application due to existing clinical application deficiencies.

This announcement resulted in a staggering drop of over 80% in Applied Therapeutics stock price over several trading days, shifting from a closing price of $10.21 per share on November 26, 2024, to just $1.75 per share on December 2, 2024.

Then, on December 2, 2024, the company disclosed that it had received a warning letter from the FDA concerning its govorestat study, citing issues with electronic data capture and a dosing error. This information led to an additional decline of over 26% in the stock’s price in the following days, decreasing from $1.75 per share to $1.29 per share by December 5, 2024.

For more information, you can click here: BFA Law’s website.

Options for Investors

If you have made an investment in Applied Therapeutics, it is essential to know that you may have legal options available to you. You are encouraged to submit your information to the Bleichmar Fonti & Auld LLP firm.

There is no financial risk for shareholders as all legal representation is on a contingency fee basis. Investors will not be held responsible for court costs or litigation expenses, with fees subject to court approval.

To submit your information, visit: BFA Law’s website. For direct inquiries, you can contact Ross Shikowitz at [email protected] or by phone at 212-789-3619.

About Bleichmar Fonti & Auld LLP

Bleichmar Fonti & Auld LLP is a prominent international law firm specializing in representing plaintiffs in securities class actions and shareholder litigation. The firm has been recognized among the top five plaintiff law firms by ISS SCAS in 2023, and many of its attorneys have earned accolades as Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. BFA has achieved notable successes, including recovering over $900 million in value from Tesla, Inc.'s Board of Directors, and $420 million from Teva Pharmaceutical Industries Ltd.

For more details about BFA and its legal team, please visit their website: BFA Law's website.

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APLT, lawsuit, investors