#USA #New York #Pomerantz LLP #Applied Therapeutics #FDA Response

Pomerantz Law Firm Investigates Claims on Behalf of Investors of Applied Therapeutics

On December 2, 2024, Pomerantz LLP announced an investigation into possible claims on behalf of investors in Applied Therapeutics, Inc. (NASDAQ: APLT). This inquiry arises following significant developments surrounding the company's New Drug Application (NDA) for a treatment intended for Classic Galactosemia.

What Prompted the Investigation?

The inquiry stems from a recent press release issued by Applied Therapeutics on November 27, 2024. The company disclosed that the U.S. Food and Drug Administration (FDA) had sent a Complete Response Letter (CRL) concerning its NDA for govorestat, a drug designed to treat a rare genetic disorder. The CRL indicated the FDA's inability to approve the NDA in its current form, pinpointing deficiencies within the clinical application presented by the company.

As a result of this announcement, Applied Therapeutics saw its stock plummet dramatically, losing $6.54 per share, which equated to a staggering 76.31%, taking the share price down to $2.03 by the market close on November 29, 2024. This sharp decline raised alarms among investors, leading to the involvement of legal representation to investigate potential securities fraud or other unlawful business operations by the company and its executives.

The Role of Pomerantz LLP

Pomerantz LLP has carved a niche for itself over the years as one of the foremost law firms in the arena of corporate and securities class litigation. Founded by Abraham L. Pomerantz, who is often regarded as a pioneer of the class action bar, the firm has a rich legacy of defending shareholder rights and addressing corporate misconduct, having secured numerous multimillion-dollar damages awards through class actions.

In the wake of the FDA's disapproval, Pomerantz has called upon investors affected by the dramatic decline in Applied Therapeutics' stock to reach out to them for potential inclusion in a class action lawsuit. Investors concerned about their financial well-being are encouraged to contact Danielle Peyton at the firm directly for guidance and assistance.

The firm’s response is indicative of its long-standing commitment to protecting shareholders and demanding accountability from corporate entities, particularly in scenarios where the integrity of a company's business practices is questioned.

What Next for Investors?

As the investigation unfolds, it is crucial for investors to stay informed about the developments surrounding Applied Therapeutics. This scrutiny not only pertains to the potential ramifications of the FDA's CRL but also examines the wider implications for the company's leadership and their disclosure practices.

If you have been impacted by the decline in stock price or if you believe your investment was adversely affected by misleading practices, reaching out to legal counsel may be beneficial to explore your options.

Pomerantz’s track record provides some hope to those seeking redress. The firm’s expertise in dealing with securities fraud cases may potentially bring justice to investors victimized by misleading corporate actions. By participating in any potential class action, affected parties may have an opportunity to reclaim some of their losses, making it imperative to act swiftly and seek professional legal input.

In conclusion, while the investigation is just beginning, it raises questions about governance and the ethical responsibilities that companies have towards their investors. The outcome may shed light on the practices employed by Applied Therapeutics and whether they adhere to the expected standards of transparency and accountability in the often turbulent world of pharmaceutical investment.

For more information on how to join the investigation, interested parties are urged to contact Pomerantz LLP for the details necessary to understand their rights and options moving forward.