Major Losses Prompt Class Action Against Applied Therapeutics, Inc. for Shareholders' Recovery

Class Action Lawsuit Against Applied Therapeutics, Inc.

The Gross Law Firm has announced a new opportunity for shareholders of Applied Therapeutics, Inc. (NASDAQ: APLT) who suffered financial losses due to significant stock price declines. This class action lawsuit aims to seek financial recovery for those who purchased shares during a specified period. The firm encourages affected shareholders to reach out and explore their eligibility for lead plaintiff status, emphasizing that such an appointment is not necessary to participate in the recovery process.

Key Details of the Class Action

Timeline and Alarming Price Drops

The class period for this action spans from January 3, 2024, to December 2, 2024. During this timeframe, shares of Applied Therapeutics experienced a dramatic downturn. On November 27, 2024, the company disclosed critical news regarding its lead drug candidate, govorestat. The press release stated that it had received a Complete Response Letter (CRL) from the FDA, indicating that the agency could not approve the New Drug Application (NDA) in its current form due to deficiencies noted in clinical trials.

On the first day following this news, the stock plummeted from a closing price of $10.21 on November 26 to $8.57, further sinking to $2.03 by November 29 and $1.75 by December 2. This marked a staggering decline of over 80% within just a few days. The situation escalated on December 2, when the firm revealed it had also received a 'warning letter' from the FDA addressing serious clinical trial issues related to the CRL. This prompted an even sharper decline in the stock price, which fell to $1.69 on December 3 and continued its downward trajectory to close at $1.29 on December 5, 2024.

Class Action Registration and Deadlines

Potential class members are encouraged to register with the law firm to ensure their participation in the lawsuit. The deadline for shareholders to seek lead plaintiff status is February 18, 2025. Registration provides shareholders with access to portfolio monitoring tools that deliver updates about the case's progress.

Purpose of this Class Action

The Gross Law Firm is well-known for its dedication to safeguarding the rights of investors affected by misleading corporate actions. This initiative is primarily aimed at those who lost money due to statements or information omissions that artificially inflated the stock price of Applied Therapeutics. By joining this class action, shareholders can assert their rights and seek financial redress for their losses.

Contact Information

Investors who believe they qualify for inclusion in this class action are invited to reach out directly to The Gross Law Firm. They can do so through the firm's website, where they can fill out a submission form and provide necessary details. This process is straightforward and devoid of any financial commitment for shareholders wishing to participate.

In a landscape where investor rights are paramount, The Gross Law Firm remains vigilant in holding companies accountable for any actions that lead to deceit, fraud, or unethical business practices. Their expertise aids shareholders in navigating the complex waters of class action litigation, ensuring they have the chance to reclaim losses incurred due to corporate misconduct.

For more information, shareholders can contact The Gross Law Firm at their New York office: