#Class Action #Gross Law Firm #Applied Therapeutics

Legal Notice to Investors of Applied Therapeutics, Inc.

The Gross Law Firm has reached out to shareholders of Applied Therapeutics, Inc. (NASDAQ: APLT) to remind them of an impending class action lawsuit with a crucial deadline of February 18, 2025. If you purchased APLT shares during the designated class period from January 3, 2024, to December 2, 2024, it's imperative to contact the firm regarding possible appointment as a lead plaintiff. However, be assured that participating in the recovery process does not necessitate lead plaintiff status.

Overview of Allegations

The lawsuit stems from serious allegations made against Applied Therapeutics. On November 27, 2024, the company disclosed that it had received a Complete Response Letter (CRL) from the FDA concerning its New Drug Application (NDA) for its lead drug candidate, govorestat. The letter indicated that the FDA had completed reviewing the application but could not approve it in its current form due to identified deficiencies.

This announcement significantly affected the company’s stock price. It fell dramatically from a closing price of $10.21 per share on November 26, 2024, to $8.57 on November 27, 2024, continuing to decline to $2.03 on November 29 and $1.75 by December 2, resulting in an overall drop exceeding 80%.

Moreover, on December 2, the company announced it had received a