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Applied Therapeutics Inc. filings document the company's completed merger, removal of its common stock from Nasdaq listing and termination of Exchange Act registration for its common stock. The Form 15 record states that Applied survived the merger as an indirect wholly owned subsidiary of Cycle Group Holdings Limited.
Earlier 8-K filings covered the merger agreement, tender offer structure, contingent value rights, strategic-alternatives review, workforce reduction, quarterly results, leadership changes, an at-the-market equity sales agreement, Nasdaq listing compliance and governance matters tied to the former public company.
Applied Therapeutics, Inc. prospectus supplement discloses risk factors and incorporates recent SEC filings by reference, including annual and quarterly reports and current reports. The company identifies key corporate risks such as regulatory matters, clinical development, intellectual property, competition, financing needs and macroeconomic impacts. The prospectus lists equity and equity-linked instruments outstanding as of June 30, 2025: 7,658,636 stock option shares (weighted-average exercise $1.54), 5,487,394 restricted stock units, 14,350,618 warrant shares (weighted-average exercise $0.78), 6,913,209 shares available under the 2019 Equity Incentive Plan and 1,747,091 shares available under the 2019 Employee Stock Purchase Plan. It references an FDA Complete Response Letter and Warning Letter dated November 27, 2024. The 2022 audited financials by Ernst & Young LLP include an explanatory paragraph noting substantial doubt about the company’s ability to continue as a going concern.
Applied Therapeutics, Inc. disclosed that Nasdaq notified the company its closing bid price had been below the $1.00 minimum for the last 30 consecutive business days, triggering an initial compliance period. Nasdaq has now granted an additional 180-calendar-day extension to regain compliance with the $1.00 bid-price requirement, extending the deadline to February 2, 2026. In connection with the extension, the company’s listing will be transferred from the Nasdaq Global Market to the Nasdaq Capital Market, effective August 15, 2025. The Extension Notice does not immediately affect the listing, and the company says it will monitor the bid price and consider available options, including a reverse stock split, to attempt to regain compliance. If the bid price reaches at least $1.00 for 10 consecutive business days before the deadline, Nasdaq will confirm compliance; otherwise Nasdaq may initiate delisting procedures and the company could appeal.
Applied Therapeutics, Inc. reported unaudited Q2 2025 financials showing a sharp decline in liquidity and continued operating losses. Cash and cash equivalents totaled $30.4 million at June 30, 2025, down from $79.4 million at December 31, 2024, while total assets fell to $37.3 million from $86.7 million. The company recorded a net loss of $21.3 million for the quarter and $43.2 million for the six months ended June 30, 2025, driven by R&D and G&A expenses. Operating cash used was $49.0 million for the six months.
The company disclosed material events: an FDA Complete Response Letter and Warning Letter related to the govorestat (AT-007) NDA for Classic Galactosemia, ongoing securities and derivative litigation, and management concluded that substantial doubt exists about its ability to continue as a going concern within one year. Offsetting commercial arrangements include a license to Advanz Pharma with an upfront EUR 10.0 million payment and potential future milestones and royalties, and a subsequent July 31, 2025 out-license of AT-001 to Biossil with a $1.0 million upfront payment.
Applied Therapeutics, Inc. filed a current report to disclose that it issued a press release announcing its financial results for the quarter ended June 30, 2025. The company furnished this press release as Exhibit 99.1 to the report, meaning it is provided for information purposes rather than being treated as filed under certain liability provisions of the Exchange Act. The report also notes that the cover page inline XBRL data is included as Exhibit 104, and it is signed by Les Funtleyder as Interim Chief Executive Officer and Chief Financial Officer.