Pomerantz Law Firm Issues Shareholder Alert on Applied Therapeutics Class Action Lawsuit

Investor Alert from Pomerantz Law Firm

The Pomerantz Law Firm has recently announced a significant class action lawsuit against Applied Therapeutics, Inc., aiming to represent shareholders who may have endured losses related to their investments in the company. This legal action emphasizes the pressing nature of upcoming deadlines that shareholders need to consider. If you have invested in Applied Therapeutics, particularly during the class period, staying informed is vital.

Background on the Lawsuit

The core focus of this class action revolves around allegations suggesting that Applied Therapeutics, along with certain of its executives and directors, might have engaged in securities fraud or other questionable business practices. This lawsuit emerges amidst troubling news from the company regarding its drug development processes.

On November 27, 2024, Applied Therapeutics publicly acknowledged receiving a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding its New Drug Application (NDA) for govorestat, an innovative treatment targeted at Classic Galactosemia. The FDA's letter highlighted significant deficiencies during the clinical application, a revelation that led to a drastic decline in the company’s stock value, dropping $1.64 per share (16.06%), culminating in a closing price of $8.57 per share on the same day.

Furthermore, by December 2, 2024, the situation deteriorated as Applied Therapeutics received a warning letter from the FDA, referencing additional issues tied to clinical trial protocols that had initially contributed to the unfavorable CRL. The issues documented included electronic data capture problems and a dosage error during the trial that was noted to have impacted a limited number of patients. As a result of this news, the stock price further succumbed, plunging to $1.29 per share by December 5, 2024, marking a total drop of around 26.29% after the warning letter was made public.

What Shareholders Should Do

Shareholders of Applied Therapeutics who believe they have been adversely affected by these developments are encouraged to reach out to Pomerantz LLP. Those who wish to be considered for the position of Lead Plaintiff in this class action suit have until February 18, 2025, to take action. Interested individuals should contact Danielle Peyton via email at [email protected] or call 646-581-9980. It is recommended that inquiries include pertinent details such as the mailing address and the number of shares held.

Pomerantz LLP: Firm Background

Pomerantz LLP, with a prestigious reputation spanning over 85 years, is heralded as one of the leading firms in the realm of corporate securities and antitrust class litigation. The firm, founded by Abraham L. Pomerantz, often referred to as the dean of the class action bar, is committed to advocating for the rights of individuals misled by corporate misconduct and securities fraud. The firm has successfully recovered billions on behalf of victims across various class actions, positioning itself as a significant player in ensuring corporate accountability and investor protection.

For detailed guidance on how to get involved in the class action against Applied Therapeutics, visit www.pomerantzlaw.com for further information.

Conclusion

The ongoing situation with Applied Therapeutics serves as a critical reminder for investors to remain vigilant and proactive when it comes to their rights as shareholders. Navigating the intricacies of securities law can be challenging, but connecting with an experienced law firm like Pomerantz can illuminate the path forward for those impacted by these developments.