Faruqi & Faruqi Securities LLP partner James (Josh) Wilson encourages investors who have suffered losses exceeding $50,000 in Applied Therapeutics (NASDAQ:) to contact him directly to discuss their options.
If you suffer losses exceeding $50,000 Applied treatments January 3, 2024 and December 2, 2024 If you would like to discuss your legal rights, contact Farooqui & Farooqui Partner Josh Wilson live in 877-247-4292 or 212-983-9330 (ext. 1310).
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New York, New York–(Newsfile Corp. – December 29, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Applied Therapeutics, Inc. (“Applied Therapeutics” or the “Company”) (NASDAQ: APLT) and reminds investors of February 18, 2025 deadline For the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Farooqui & Farooqui is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated the federal securities laws by making false and/or misleading statements and/or failing to disclose that defendants made positive statements to investors while, at the same time, disseminating materially false and misleading information. Statements and/or concealment of adverse material facts relating to the true status of Applied Therapeutics' Phase III INSPIRE trial; In particular, problems with electronic data capture and dosing error in the dose escalation phase of the study. Such statements in the absence of these material facts caused Plaintiff and other shareholders to purchase Applied Therapeutics securities at artificially inflated prices.
On November 27, 2024, Applied Therapeutics issued a press release announcing that “the U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) for the New Drug Application (NDA) for govorestat, a new central nervous system (CNS) drug. Aldose reductase inhibitor (ARI), for the treatment of classic galactosemia According to the company, “The CRL indicates that the FDA has completed its review of the application and has determined that it is not… was unable to approve the NDA in its current form, citing deficiencies in clinical application.”
On this news, Applied Therapeutics' stock price fell $1.64 per share, or 16.06%, to close at $8.57 per share on November 27, 2024.
Subsequently, on December 3, 2024, the FDA posted on its website a warning letter to Applied Therapeutics, the contents of which indicated that the company was aware at least as early as May 2024 that the FDA had identified significant issues with the NSA. Government disclosure.
On this news, Applied Therapeutics' stock price fell $0.31 per share, or 18.34%, to close at $1.38 per share on December 4, 2024.
A court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class and is appropriate and typical for members of the class who direct and oversee litigation on behalf of the putative class. Any member of the putative class may ask the court to serve as lead plaintiff through counsel of their choosing, or they may choose to do nothing and remain an absent member of the class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Applied Therapeutics' conduct to contact the company, including whistleblowers, former employees, shareholders and others.
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Lawyer advertisement. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar result with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234719
