Investors Encouraged to Join Class Action Against Applied Therapeutics for Recovery of Losses

Investor Alert: Join the Class Action Suit Against Applied Therapeutics

Did you lose money on your investments in Applied Therapeutics, Inc. (NASDAQ: APLT)? If so, there’s an opportunity to take action. Levi & Korsinsky, LLP has initiated a class action securities lawsuit that aims to recover the damages incurred by shareholders adversely affected by alleged securities fraud between January 3, 2024, and December 2, 2024.

The Significance of the Case

The lawsuit has been filed against Applied Therapeutics following a series of troubling developments regarding its lead drug candidate, govorestat. On November 27, 2024, the company revealed it received a Complete Response Letter (CRL) from the FDA concerning its New Drug Application (NDA), leading to a drastic decline in stock prices. The CRL indicated that the FDA found deficiencies in the clinical application, which raised serious concerns among investors.

Following the announcement of this letter, Applied Therapeutics’ stock price plummeted from $10.21 per share on November 26 to a low of $1.29 by December 5, representing a staggering decrease of over 80% in just days. This colossal loss for investors was compounded when, on December 2, Applied Therapeutics disclosed it had also received a