Investors Alert: Class Action Filed Against Applied Therapeutics, Inc. - APLT Shareholders Need to Act Now

Class Action Lawsuit Against Applied Therapeutics, Inc.

As of January 29, 2025, Robbins LLP has alerted investors about a class action lawsuit concerning Applied Therapeutics, Inc. (NASDAQ: APLT). This lawsuit is significant for anyone who purchased or acquired APLT securities between January 3, 2024, and December 2, 2024. Applied Therapeutics, a clinical-stage biopharmaceutical company, is focused on developing novel drug candidates aimed at treating rare diseases.

Understanding the Allegations

The core of the allegations revolves around claims that Applied Therapeutics misled investors about its lead drug candidate, govorestat. Specifically, the complaint asserts that during the class period, the company's communications regarding the Phase III INSPIRE trial results and the drug’s efficacy in treating conditions like Galactosemia were misleading. Investors were assured about the positive outcomes from clinical trials, including results from pediatric studies and the progress of their New Drug Application (NDA).

However, on November 27, 2024, the company reported receiving a Complete Response Letter from the FDA, citing deficiencies in the NDA submissions. This revelation caused a dramatic drop in APLT’s stock price, plummeting from $8.57 per share to $2.03 just days later, marking a total decrease of over 80%. Following this, on December 2, 2024, the company confirmed it had received a 'warning letter' from the FDA, further exacerbating the decline in stock value.

What Investors Need to Know

The lawsuit allows APLT shareholders an opportunity to advocate for their rights. Individuals who wish to act as lead plaintiffs must submit their application to the court by February 18, 2025. A lead plaintiff is someone who represents the interests of other shareholders in the litigation process. Importantly, shareholders can still remain involved even if they elect not to participate actively in the case.

Robbins LLP emphasizes that all representation in this matter is on a contingency basis, meaning shareholders will face no fees unless there is a recovery.

About Robbins LLP

Established in 2002, Robbins LLP has become a leader in shareholder rights litigation. The firm is dedicated to recovering losses for investors, enhancing corporate governance, and holding corporations and their executives accountable for their actions. Their commitment to helping shareholders navigate complex legal landscapes has made them a reliable partner for those seeking justice in corporate misconduct cases.

For more information or to discuss eligibility to join the class action against Applied Therapeutics, investors can complete a contact form, email attorney Aaron Dumas, Jr., or call Robbins LLP directly at (800) 350-6003.

Stay informed by signing up for Stock Watch, which will alert you of any settlements in this class action and other important updates on corporate governance issues.

Final Thoughts

The unfolding situation surrounding Applied Therapeutics serves as a reminder of the importance of transparency in the biopharmaceutical industry. Potential investors should remain vigilant and informed about the actions and announcements made by companies in this niche. The upcoming lead plaintiff deadline means action is required soon—time is of the essence for affected shareholders.