Applied Therapeutics Stock Price, News & Analysis

Applied Therapeutics (Nasdaq: APLT) reported promising preclinical data supporting its investigational treatment, AT-001, for Diabetic Cardiomyopathy. Key findings show AT-001 effectively reduces cardiac fibrosis and prevents adverse remodeling. The ongoing Phase 3 ARISE-HF study emphasizes the importance of cardiac functional capacity, measured by Peak VO2, for patients' quality of life. This data will be presented at the American Heart Association Scientific Sessions from November 5-7, 2022, alongside additional insights into Diabetic Cardiomyopathy's diagnosis and prevalence.

Applied Therapeutics has announced the full enrollment of 675 patients in the Phase 3 ARISE-HF trial, evaluating AT-001 for treating Diabetic Cardiomyopathy (DbCM). This study, which is placebo-controlled and double-blinded, aims to measure cardiac functional capacity after 15 months. DbCM affects about 20% of Type 2 Diabetes patients, representing a substantial market opportunity. If successful, AT-001 could become the first approved treatment for DbCM. Topline data is expected by early 2024, with plans for additional long-term data collection.

Applied Therapeutics (APLT) announced that its Phase 3 ACTION-Galactosemia Kids trial for AT-007 (gavorostat) showed a trend towards clinical benefit compared to placebo, although statistical significance was not yet reached at 12 months. The company is meeting with the EMA to discuss conditional approval submission in the EU. Safety data indicates AT-007 is well tolerated, and the study will continue to 18 months for further evaluation. AT-007 targets Classic Galactosemia and has shown promise in reducing plasma galactitol levels in previous studies.

Applied Therapeutics, Inc. (NASDAQ: APLT) announced key developments in its second quarter financial results and ongoing clinical trials. The company completed a public equity offering, raising $30 million, and received orphan medicinal product designation from the EMA for AT-007 in treating Galactosemia. As of June 30, 2022, cash and equivalents totaled $67.7 million. While R&D expenses slightly increased to $15.4 million, G&A expenses decreased to $6.1 million. The company reported a net loss of $25.9 million, compared to the previous year's loss of $25.8 million.

Applied Therapeutics (Nasdaq: APLT) announced its sponsorship of the 2022 Galactosemia Foundation Conference, held July 28-30 in Orlando, Florida. The company is committed to the Galactosemia community, launching a new website and educational resources. Presentations at the conference will include updates on their clinical programs, particularly focusing on AT-007 for treating Galactosemia. The drug has shown significant efficacy in clinical trials, receiving FDA designations for its potential impact on patients suffering from this rare disorder.

Applied Therapeutics (NASDAQ: APLT) announced a public offering of 20 million shares of common stock and 10 million pre-funded warrants, aiming to raise approximately $30 million. Each share of common stock is priced at $1.00, while the pre-funded warrants are priced at $0.9999. Proceeds will be allocated for general corporate purposes, including R&D and clinical trials. The offering is set to close on June 27, 2022, pending customary conditions. The company is focusing on developing drug candidates for significant unmet medical needs, particularly in CNS rare metabolic diseases.

Applied Therapeutics (NASDAQ: APLT) announced a public offering of its common stock and pre-funded warrants, along with accompanying warrants. The company intends to use the net proceeds for general corporate purposes, including research and development costs and capital expenditures. SVB Securities is managing the offering, which is subject to market conditions. A registration statement has been filed for the offering, and no assurances can be made about its completion or final terms.

Applied Therapeutics (Nasdaq: APLT) announced that the European Medicines Agency (EMA) has granted orphan medicinal product designation for its drug AT-007 (gavorestat) to treat Galactosemia. This designation recognizes the significant medical need and potential of AT-007 to reduce toxic galactitol levels in patients. The company plans to meet with the EMA in Q3 to discuss a potential submission for conditional approval. The orphan status provides various incentives, including a decade of market exclusivity upon approval.

Applied Therapeutics, Inc. (Nasdaq: APLT) is participating in a fireside chat at the UBS Global Healthcare Conference on March 25, 2022, at 10:45 a.m. ET, in New York. The event can be accessed via webcast on their Investor Relations page, with a replay available post-event. The company specializes in developing novel biopharmaceutical candidates targeting significant unmet medical needs, including CNS rare metabolic diseases and diabetic cardiomyopathy. Their leading drug candidates include AT-007 and AT-001, among others.