Applied Therapeutics(US:APLT) Prnewswireยท2024-12-20 10:45Core Viewpoint - A class action securities lawsuit has been filed against Applied Therapeutics, Inc. due to alleged securities fraud affecting investors between January 3, 2024, and December 2, 2024 [1][6]. Company Summary - The lawsuit is a response to a Complete Response Letter (CRL) received by Applied Therapeutics from the FDA regarding its New Drug Application (NDA) for govorestat, indicating deficiencies in the clinical application [6]. - Following the announcement of the CRL on November 27, 2024, Applied Therapeutics' stock price dropped significantly from $10.21 per share to $8.57 per share, and further declined to $2.03 on November 29, 2024, and $1.75 on December 2, 2024, marking a total decline of over 80% [6]. - After the disclosure of a "warning letter" from the FDA on December 2, 2024, the stock price continued to fall, reaching $1.69 on December 3, 2024, and further declining to $1.38 on December 4, 2024, and $1.29 on December 5, 2024 [6]. Legal Context - Investors who suffered losses during the specified timeframe have until February 18, 2025, to request to be appointed as lead plaintiff in the lawsuit [4]. - The lawsuit aims to recover losses for investors adversely affected by the alleged fraud [6]. Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [7]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [7].