Applied Therapeutics Stock Plummets After FDA Rejects Metabolic Disease Drug

Key TakeawaysApplied Therapeutics' application for a treatment of a rare metabolic disease was rejected by the Food and Drug Administration.The FDA said the drug, govorestat for galactosemia, had "deficiencies in the clinical application."The news sent shares of Applied Therapeutics plunging 75% Friday morning. Applied Therapeutics (APLT) shares cratered Friday as the biopharmaceutical firm reported that the Food and Drug Administration (FDA) rejected its application for its experimental treatment for a rar ...