#United States #New York #Class Action #Gross Law Firm #Applied Therapeutics

Attention Applied Therapeutics Shareholders

If you have suffered financial losses due to your investment in Applied Therapeutics, Inc. (NASDAQ: APLT), it's crucial for you to reach out to The Gross Law Firm. This law firm has announced a new class action initiative, and shareholders are encouraged to get involved promptly.

Background of the Case

The Gross Law Firm issued a notice targeting shareholders who acquired shares during the designated class period, which spans from January 3, 2024, to December 2, 2024. The firm is currently seeking investors who might be eligible for lead plaintiff status, although it's essential to note that such an appointment is not mandatory to partake in any potential recovery.

On November 27, 2024, Applied Therapeutics released a press statement that sent shockwaves through the investment community. The announcement detailed that the FDA had issued a Complete Response Letter (CRL) regarding its New Drug Application for govorestat, the company’s primary drug candidate. The FDA's assessment revealed that it could not approve the application in its current form due to several deficiencies noted in the clinical application. This news triggered a drastic decline in the value of APLT shares.

Impact on Stock Value

The announcement caused APLT stock to plummet from a price of $10.21 per share on November 26 to $8.57 on November 27. The decline didn’t stop there; shares continued to fall to $2.03 by November 29 and subsequently to $1.75 by December 2. In total, these events represented a staggering drop of more than 80%.

In a separate disclosure following the initial CRL announcement, Applied Therapeutics revealed that it also received a warning letter from the FDA, which highlighted serious issues related to the company’s clinical trials. When investors comprehended the severity of these findings, further panic ensued, resulting in APLT’s stock sliding from $1.75 on December 2 to $1.29 by December 5.

Key Timelines and Next Steps

The deadline for shareholders to register in this class action is February 18, 2025. It is imperative for affected investors to take swift action and register through the provided link, which will facilitate more information and updates throughout the lifecycle of this case.

Investors will also be enrolled in a portfolio monitoring system that keeps them updated on the progress and crucial developments relating to the case. It’s essential for shareholders to act fast as critical deadlines are approaching.

Why Choose The Gross Law Firm?

The Gross Law Firm is noted for its advocacy in class action lawsuits, particularly protecting the rights of investors against deception, fraud, and unethical business activities. The firm prides itself on fostering responsible business practices and aims to recover losses for shareholders who may have been misled by false statements or omissions.

With a commitment to representing affected investors, The Gross Law Firm is determined to hold companies accountable and ensure they uphold ethical integrity in their operations. Interested parties can reach out to The Gross Law Firm via phone at (646) 453-8903 or by visiting their website for more details on how to begin the registration process and secure representation in this important legal matter.

Conclusion

If you are a shareholder of Applied Therapeutics and have experienced a loss, do not hesitate to take the necessary steps toward potentially recovering your investment. As the landscape of biotech investing can be unpredictable, remaining informed and proactive is paramount. Join your fellow shareholders in seeking justice and accountability from Applied Therapeutics, Inc.

For more information, visit The Gross Law Firm's website.