NEW YORK, Aug. 18, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Applied Therapeutics, Inc. ("GTT" or the "Company") (NASDAQ: APLT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Applied and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around May 13, 2019, Applied Therapeutics conducted its initial public offering ("IPO"), issuing 4 million shares of common stock priced at $10.00 per share. On August 17, 2020, Applied Therapeutics disclosed that the U.S. Food and Drug Administration ("FDA") has placed a partial clinical hold on the Company's ACTION-Kids study evaluating the Company's AT-007 product for the treatment of galactosemia. The FDA cited the need for additional technical information related to ensuring that every participant in the study has access to the drug's benefits.
On this news, Applied Therapeutics' stock price fell $3.53 per share, or 12.07%, to close at $25.71 per share on August 17, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP