Applied Therapeutics(US:APLT) Prnewswire·2025-01-27 10:45Core Viewpoint - The news highlights a class action lawsuit against Applied Therapeutics, Inc. due to significant stock price declines following the issuance of a Complete Response Letter (CRL) from the FDA regarding its lead drug candidate, govorestat [2][3]. Group 1: Company Overview - Applied Therapeutics, Inc. is facing legal action from shareholders who purchased shares during the class period from January 3, 2024, to December 2, 2024 [2]. - The company’s lead drug candidate, govorestat, received a CRL from the FDA on November 27, 2024, indicating that the application could not be approved in its current form due to clinical application deficiencies [2]. Group 2: Stock Price Impact - Following the CRL announcement, Applied Therapeutics' stock price dropped from $10.21 per share on November 26, 2024, to $8.57 on November 27, 2024, and further declined to $2.03 on November 29, 2024, marking a total decline of over 80% [2]. - After the company disclosed a "warning letter" from the FDA on December 2, 2024, the stock price fell from $1.75 per share to $1.69 on December 3, 2024, and continued to decline to $1.38 on December 4, 2024, and $1.29 on December 5, 2024 [2]. Group 3: Legal Proceedings - Shareholders are encouraged to register for the class action lawsuit, with a deadline set for February 18, 2025, to seek lead plaintiff status [3]. - The Gross Law Firm, which is handling the case, aims to protect the rights of investors who have suffered losses due to misleading statements or omissions by the company [4].