Investors of Applied Therapeutics Urged to Join Class Action Lawsuit Before Deadline

Important Notice to Shareholders of Applied Therapeutics, Inc.

Overview

As of January 30, 2025, The Gross Law Firm has issued a critical notification for shareholders of Applied Therapeutics, Inc. (NASDAQ: APLT) regarding an upcoming class action lawsuit. This legal action arises from significant stock price declines following revelations about the company’s lead drug candidate, govorestat.

Details of the Case

The class period for affected shareholders spans from January 3, 2024, to December 2, 2024. On November 27, 2024, Applied Therapeutics publicly disclosed that it received a Complete Response Letter (CRL) from the FDA pertaining to its New Drug Application (NDA) for govorestat. This letter indicated that the FDA could not approve the NDA as it stood, citing serious deficiencies in the supporting clinical data.

Following this announcement, the company’s common stock plummeted from a closing price of $10.21 per share on November 26, 2024, down to $8.57 on November 27. The decline continued sharply to $2.03 by November 29, 2024, and ultimately fell to $1.75 by December 2, 2024—a staggering decrease of over 80%.

In the wake of this rapid decline, the company also disclosed receipt of a “warning letter” from the FDA, further escalating concerns over significant issues in their clinical trials. The aftermath was painful for investors, as the stock price continued to tumble, reaching as low as $1.29 per share by December 5, 2024. Such dramatic fluctuations have left shareholders at a loss and galvanized them to consider participating in the forthcoming class action.

Next Steps for Shareholders

The deadline for filing as a lead plaintiff in this class action is set for February 18, 2025. The Gross Law Firm encourages all eligible shareholders to not delay in registering their information. This will also enable them to receive critical updates via portfolio monitoring tools throughout the legal proceedings.

Why Participate?

Investors may not need to assume the role of lead plaintiff to be eligible for any recovery resulting from this case. The Gross Law Firm, which boasts a reputation as a nationally recognized class action legal entity, seeks to defend the rights of those impacted by fraudulent company practices, ensuring responsible corporate conduct and adherence to regulation. By participating in this lawsuit, shareholders can potentially recover losses suffered due to misleading financial disclosures and practices that led to the artificial inflation of company stocks.

The firm asserts that it is committed to holding companies accountable for deceptive actions while providing a platform for distressed investors to seek redress. Importantly, there is no financial obligation involved in joining the suit, allowing shareholders to pursue their rights at no cost.

Conclusion

The situation surrounding Applied Therapeutics highlights the necessity of vigilance among investors, especially when navigating the complexities of corporate disclosures and regulatory challenges. Shareholders are urged to act promptly, ensuring their voices are heard in hopes of recovering their financial losses in this ongoing legal battle. For further details and to register, individuals can visit this link.