APLT INVESTIGATION: Hagens Berman, National Trial Attorneys, Encourages Applied Therapeutics, Inc. (APLT) Investors to Contact Firm's Attorneys, Firm Investigating Possible Securities Law Violations
SAN FRANCISCO, Jan. 14, 2022 /PRNewswire/ -- Hagens Berman urges Applied Therapeutics, Inc. (NASDAQ: APLT) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims.
Applied Therapeutics, Inc. (APLT) Investigation:
The investigation focuses on Applied Therapeutics' statements about the data and regulatory approval process for AT-007, an intended treatment for patients having a rare disorder (galactosemia) that affects how the body processes galactose.
Specifically, in the past, Applied Therapeutics has claimed that its "extensive" FDA interactions supported the company's design of the AT-007 program and its use of biomarker data would support the submission of a new drug application ("NDA") to the FDA.
The company's claims came into question on July 1, 2020, when an anonymous short seller posted an online research report that accused Applied Therapeutics of misrepresenting data on AT-007 to make the proposed therapy appear more effective than it really was. Among other things, the report highlighted several data integrity issues its author considered to be "red flags" and concluded that "Applied Therapeutics stock is wildly overvalued and that its prospects for commercial success of any kind are dim." Within days, Applied Therapeutics publicly denounced the report and its author while, reportedly, quietly amending its investor presentations in a way that bolstered the short seller's accusations.
But, on Jan. 3, 2022, Applied Therapeutics announced it delayed the NDA for AT-007 and blamed the delay on the FDA's likely requirement that the company submit supportive clinical data for AT-007's approval.
This news drove the price of Applied Therapeutics sharply lower.
"We're focused on investors' losses and whether Applied Therapeutics accurately characterized AT-007's data and the company's communications with the FDA," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Applied Therapeutics and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Applied Therapeutics should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email mailto:APLT@hbsslaw.com.
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SOURCE Hagens Berman Sobol Shapiro LLP
Company Codes: NASDAQ-NMS:APLT