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applied therapeutics director resigns, company seeks replacement

EditorEmilio Ghigini
Published 12/11/2024, 06:18 PM
APLT
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This development comes as Applied Therapeutics (NASDAQ:APLT) continues its work in the pharmaceutical industry, focusing on developing therapies for diseases with a significant unmet medical need. The company's progress and strategic decisions, including changes in its board composition, are closely watched by investors and industry analysts.

For deeper insights into APLT's financial health, valuation metrics, and exclusive analyst recommendations, explore the comprehensive research available on InvestingPro, which features 15+ additional key insights about the company's current position and future prospects.

For deeper insights into APLT's financial health, valuation metrics, and exclusive analyst recommendations, explore the comprehensive research available on InvestingPro, which features 15+ additional key insights about the company's current position and future prospects.

The company, which specializes in the field of pharmaceutical preparations, did not provide a reason for Marcus's departure. The filing indicated that the search for new independent director candidates is underway, signaling the company's intent to fill the vacated position promptly.

Applied Therapeutics, with its headquarters at 545 Fifth Avenue, Suite 1400, New York, NY, operates under the jurisdiction of Delaware. The company's common stock is traded on the Nasdaq Global Market under the ticker symbol APLT.

As per the SEC filing, Leslie Funtleyder, the Chief Financial Officer of Applied Therapeutics, signed off on the report on behalf of the company. The filing confirms the company's compliance with the requirements of the Securities Exchange Act of 1934.

This development comes as Applied Therapeutics continues its work in the pharmaceutical industry, focusing on developing therapies for diseases with a significant unmet medical need. The company's progress and strategic decisions, including changes in its board composition, are closely watched by investors and industry analysts.

The information for this article is based on a press release statement filed with the SEC.

In other recent news, Applied Therapeutics has been navigating a series of regulatory challenges. The company received a Complete Response Letter from the U.S. Food and Drug Administration for its drug govorestat, intended for the treatment of Classic Galactosemia, due to clinical application deficiencies. Despite this setback, the company plans to discuss potential resubmission or appeal options with the FDA.

Simultaneously, Applied Therapeutics is engaged in the development of 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.

On the financial front, Applied Digital Corporation reported a fiscal first quarter revenue of $60.7 million, a 67% increase year-over-year. The company also reported an adjusted net loss of $21.6 million or $0.15 per share, better than the anticipated loss of $0.27 per share. Adjusted EBITDA stood at $20.0 million, a significant increase from the previous year. These are among the recent developments in Applied Therapeutics.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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