NEW YORK, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Applied Therapeutics, Inc. (“Applied Therapeutics” or the “Company”) (NASDAQ: APLT) securities between January 3, 2024 and December 2, 2024, inclusive (the “Class Period”).
The Complaint alleges that on November 27, 2024, Defendants revealed that the FDA issued a Complete Response Letter for the NDA for govorestat which indicated that “the FDA completed its review of the application and determined that it is unable to approve the NDA in its current form, citing deficiencies in the clinical application.” On this news, the price of Applied Therapeutics stock fell more than 80% over three trading sessions.
Then, on December 2, 2024, the Complaint further alleges that Applied Therapeutics disclosed that it received a warning from the FDA which “identified issues related to electronic data capture” and “refers to a dosing error in the dose-escalation phase of the study resulting in slightly lower levels than targeted in a limited number of patients.” On this news, the price of Applied Therapeutics stock fell more than 26% over three trading sessions.
Investors who purchased or otherwise acquired shares of Applied Therapeutics should contact the Firm prior to the February 18, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
