Applied Therapeutics(US:APLT) Prnewswireยท2025-02-06 10:45Core Viewpoint - The Gross Law Firm is notifying shareholders of Applied Therapeutics, Inc. regarding a class action lawsuit due to significant stock price declines following negative FDA communications about the company's lead drug candidate, govorestat [1][2]. Group 1: Company Overview - Applied Therapeutics, Inc. is facing legal action after its stock price fell dramatically due to a Complete Response Letter (CRL) from the FDA regarding its New Drug Application (NDA) for govorestat, indicating deficiencies in the clinical application [2]. - The 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, and $1.75 on December 2, 2024, marking a total decline of over 80% [2]. Group 2: Legal Proceedings - The class period for the lawsuit is defined as January 3, 2024, to December 2, 2024, with a deadline for shareholders to register as lead plaintiffs set for February 18, 2025 [3]. - Following the disclosure of a "warning letter" from the FDA on December 2, 2024, regarding clinical trial issues, the stock price continued to decline, reaching $1.69 on December 3, 2024, and further to $1.29 on December 5, 2024 [2]. Group 3: Shareholder Actions - Shareholders are encouraged to register for the class action lawsuit to monitor the case's progress, with no cost or obligation to participate [3]. - The Gross Law Firm aims to protect investors' rights and seeks recovery for losses incurred due to misleading statements or omissions by the company [4].