Levi & Korsinsky Issue Alert for Applied Therapeutics Investors Before Lead Plaintiff Deadline
On January 14, 2025, Levi & Korsinsky, LLP, a law firm known for its active representation of investors, announced a significant development for shareholders of Applied Therapeutics, Inc. (NASDAQ: APLT). The firm is informing investors about a crucial lead plaintiff deadline on February 18, 2025, related to a class-action lawsuit that seeks to recoup losses incurred by shareholders due to alleged securities fraud that occurred between January 3 and December 2, 2024.
Investors in Applied Therapeutics faced a challenging period when the company disclosed serious issues regarding its leading drug candidate, govorestat. A press release dated November 27, 2024, announced that the U.S. Food and Drug Administration (FDA) had issued a Complete Response Letter (CRL) for the New Drug Application (NDA) of govorestat. This letter indicated that the FDA had reviewed the application and found it lacking in sufficient clinical data and other key elements necessary for approval, effectively blocking the potential advancement of the drug.
The immediate aftermath of this announcement saw a drastic dip in Applied Therapeutics' share price. The stock plummeted from a closure of $10.21 on November 26, 2024, to $8.57 the following day. The decline continued as the price fell to $2.03 on November 29, 2024, and further slumped to $1.75 by December 2, 2024, marking a staggering total decline of over 80%.
Moreover, after market hours on December 2, Applied Therapeutics revealed it had received a warning letter from the FDA, which outlined various concerns regarding the company's clinical trial processes. This important disclosure led to additional declines in share price. Specifically, it dropped to $1.69 on December 3 and continued to dwindle to $1.29 by December 5, illustrating the profound impact these events had on stakeholder confidence.
For shareholders who experienced financial losses during this tumultuous period, Levi & Korsinsky is urging them to act promptly. Investors can request to be appointed as lead plaintiff up until the deadline of February 18, 2025, an opportunity that offers the chance to play a vital role in the ongoing legal proceedings. Importantly, being a lead plaintiff does not obligate shareholders to incur any upfront costs, as any recoveries would be achievable without personal financial risk.
Levi & Korsinsky brings over two decades of experience in securities litigation and has a proven track record of recovering significant financial compensation for shareholders. Over this time, they have successfully recovered hundreds of millions for their clients, establishing themselves as a top firm recognized for navigating complex legal landscapes effectively. Notably, the firm has consistently ranked in the Top 50 Report issued by ISS Securities Class Action Services for its expertise in securities litigation, demonstrating its commitment to investor representation.
As Applied Therapeutics navigates these legal waters, the support and actions of its shareholders will be crucial. If you were impacted by the recent decline in stock prices and want to understand your options, you can reach out to Levi & Korsinsky at (212) 363-7500 or via email at [email protected] This is more than a call to legal action; it is an opportunity for investors to ensure their voices are heard in a critical time for Applied Therapeutics.
Background of the Case
Investors in Applied Therapeutics faced a challenging period when the company disclosed serious issues regarding its leading drug candidate, govorestat. A press release dated November 27, 2024, announced that the U.S. Food and Drug Administration (FDA) had issued a Complete Response Letter (CRL) for the New Drug Application (NDA) of govorestat. This letter indicated that the FDA had reviewed the application and found it lacking in sufficient clinical data and other key elements necessary for approval, effectively blocking the potential advancement of the drug.
The immediate aftermath of this announcement saw a drastic dip in Applied Therapeutics' share price. The stock plummeted from a closure of $10.21 on November 26, 2024, to $8.57 the following day. The decline continued as the price fell to $2.03 on November 29, 2024, and further slumped to $1.75 by December 2, 2024, marking a staggering total decline of over 80%.
Moreover, after market hours on December 2, Applied Therapeutics revealed it had received a warning letter from the FDA, which outlined various concerns regarding the company's clinical trial processes. This important disclosure led to additional declines in share price. Specifically, it dropped to $1.69 on December 3 and continued to dwindle to $1.29 by December 5, illustrating the profound impact these events had on stakeholder confidence.
Call to Action for Shareholders
For shareholders who experienced financial losses during this tumultuous period, Levi & Korsinsky is urging them to act promptly. Investors can request to be appointed as lead plaintiff up until the deadline of February 18, 2025, an opportunity that offers the chance to play a vital role in the ongoing legal proceedings. Importantly, being a lead plaintiff does not obligate shareholders to incur any upfront costs, as any recoveries would be achievable without personal financial risk.
Why Choose Levi & Korsinsky?
Levi & Korsinsky brings over two decades of experience in securities litigation and has a proven track record of recovering significant financial compensation for shareholders. Over this time, they have successfully recovered hundreds of millions for their clients, establishing themselves as a top firm recognized for navigating complex legal landscapes effectively. Notably, the firm has consistently ranked in the Top 50 Report issued by ISS Securities Class Action Services for its expertise in securities litigation, demonstrating its commitment to investor representation.
Conclusion
As Applied Therapeutics navigates these legal waters, the support and actions of its shareholders will be crucial. If you were impacted by the recent decline in stock prices and want to understand your options, you can reach out to Levi & Korsinsky at (212) 363-7500 or via email at [email protected] This is more than a call to legal action; it is an opportunity for investors to ensure their voices are heard in a critical time for Applied Therapeutics.
Topics Financial Services & Investing）
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