Applied Therapeutics Securities Class Action Lawsuit
Analysis based on 21 articles · First reported Feb 03, 2025 · Last updated Feb 14, 2025
The market is negatively impacted by the significant decline in Applied Therapeutics' stock price, which fell over 80% due to the United States — Food and Drug Administration's rejection of its lead drug candidate and subsequent warning letter. This event has led to multiple law firms, including Levi & Korsinsky, The Gross Law Firm, and Rosen Law Firm, initiating class action lawsuits, creating uncertainty for investors and potentially leading to substantial financial recovery for aggrieved shareholders.
Applied Therapeutics is facing a class action securities lawsuit after its stock price plummeted following two significant announcements from the United States — Food and Drug Administration. On November 27, 2024, Applied Therapeutics received a Complete Response Letter for its New Drug Application for govorestat, citing deficiencies in the clinical application. This news caused the stock to drop from $10.21 to $8.57. Further decline occurred after December 2, 2024, when Applied Therapeutics disclosed a 'warning letter' from the United States — Food and Drug Administration regarding clinical trial issues, leading to an over 80% total decline in stock value. Law firms such as Levi & Korsinsky, The Gross Law Firm, and Rosen Law Firm are now encouraging investors who suffered losses to join the class action lawsuit, with a lead plaintiff deadline of February 18, 2025.
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