In a challenging year for Applied Therapeutics Inc (NASDAQ:APLT)., the biopharmaceutical company's stock has reached a 52-week low, trading at $1.17. According to InvestingPro data, technical indicators suggest the stock is in oversold territory, with a market capitalization of approximately $141 million. This price level reflects a significant downturn for the company, which has seen its stock value decrease by 60.84% over the past year. Investors have been closely monitoring Applied Therapeutics as it navigates through a period marked by volatility and uncertainty within the biotech sector. InvestingPro analysis reveals the company maintains a positive cash position relative to debt, though analysts have revised earnings expectations downward for the upcoming period. Get access to 13 additional ProTips and comprehensive financial analysis with an InvestingPro subscription. The 52-week low serves as a critical indicator of the company's recent performance and market sentiment, as stakeholders consider the firm's strategic direction and potential for recovery. With analyst price targets ranging from $2 to $13, detailed valuation metrics and expert insights are available in the comprehensive Pro Research Report on InvestingPro.
In other recent news, Applied Therapeutics reported a fiscal first quarter revenue of $60.7 million, a 67% increase year-over-year, with an adjusted net loss of $21.6 million, better than the anticipated loss of $0.27 per share. Adjusted EBITDA stood at $20.0 million, a significant increase from the previous year. The company also announced the resignation of a director and is actively seeking a replacement. Meanwhile, the company's drug, govorestat, intended for the treatment of Classic Galactosemia, faced a setback with the receipt of a Complete Response Letter from the U.S. Food and Drug Administration due to clinical application deficiencies. Despite this, the company is discussing potential resubmission or appeal options. Simultaneously, Applied Therapeutics is working on a treatment for Sorbitol Dehydrogenase Deficiency, with a New Drug Application submission expected in 2025. Analysts from Baird and RBC Capital Markets, despite downgrading the company's stock, acknowledge the potential value in the company's SORD deficiency program. This is a snapshot of the recent developments at Applied Therapeutics.
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