#United States #New York #Gross Law Firm #class action lawsuit #Applied Therapeutics

Class Action Lawsuit Filed Against Applied Therapeutics, Inc. for Investor Redress

Class Action Lawsuit Filed Against Applied Therapeutics, Inc. (APLT)

In a significant legal development, shareholders of Applied Therapeutics, Inc. (NASDAQ: APLT) are encouraged to join a class action lawsuit initiated by The Gross Law Firm. This action relates to serious allegations that could fundamentally impact the financial situation of the company and its investors. The deadline to register as a participant in this lawsuit is February 18, 2025.

Background on Applied Therapeutics

Applied Therapeutics is a biopharmaceutical company focused on advancing therapies for critical health conditions, including metabolic diseases. However, the company's recent communications regarding its lead drug candidate, govorestat, have raised serious concerns.

Key Allegations

The class action centers around a Complete Response Letter (CRL) from the FDA received by Applied Therapeutics on November 27, 2024. This letter stated that the FDA was unable to approve the New Drug Application (NDA) for govorestat due to deficiencies found during their clinical review process. The news led to a dramatic drop in the stock price of the company. Investors witnessed a staggering decline from $10.21 per share on November 26 to only $1.75 by December 2, 2024—a decrease exceeding 80%.

Furthermore, on December 2, the company disclosed it received a warning letter from the FDA. This warning highlighted serious issues concerning its clinical trials, compounding investor concerns and resulting in further plummeting of the stock price.

Details for Shareholders

Shareholders who acquired APLT shares between January 3, 2024, and December 2, 2024, are urged to reach out to The Gross Law Firm. Potential plaintiffs do not need to be designated as lead plaintiffs to be eligible for recovery.

To participate, interested shareholders must complete their registration promptly to ensure they receive all necessary updates and can be included in monitoring software throughout the duration of the case.

- Deadline: February 18, 2025

The Gross Law Firm, recognized nationally for its class action expertise, offers representation to investors who believe they have been misled or harmed by corporate malfeasance. The firm has committed itself to safeguard the rights of investors while promoting ethical business practices.

Why Join the Class Action?

Engaging in a class action provides shareholders a platform to seek meaningful recovery from their financial losses. The firm reaffirms that joining does not incur any costs or obligations on the part of the participating shareholders.

Conclusion

As the situation continues to unfold, shareholders of Applied Therapeutics possess a limited window to act regarding this pressing matter. For those looking to reclaim losses resulting from the company's recent disclosures, reaching out to The Gross Law Firm may prove critical. Investors are urged not to delay in seeking justice as the deadline approaches.

For additional inquiries or to register your claim, visit The Gross Law Firm's official page or contact the firm directly at their New York office.