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In a challenging market environment, Applied Therapeutics Inc . (NASDAQ:APLT) stock has reached a 52-week low, touching down at $1.01. With a market capitalization of $128 million and a beta of 1.72, this volatile biotechnology stock has seen its shares plummet by -63.82% over the past year. According to InvestingPro data, the RSI indicates the stock is currently in oversold territory, while analyst price targets range from $2 to $13. Investors have been closely monitoring APLT as it navigates through a series of hurdles, including competitive pressures and a shifting regulatory landscape. The 52-week low serves as a critical marker for the company, which maintains more cash than debt but shows a WEAK overall financial health score according to InvestingPro's comprehensive analysis, underscoring the urgency for strategic initiatives to revitalize investor confidence and set a course for recovery. Discover 13 additional key insights about APLT with an InvestingPro subscription.
In other recent news, Applied Therapeutics has reported significant developments. The company announced a fiscal first quarter revenue of $60.7 million, a 67% increase year-over-year, and an adjusted net loss of $21.6 million or $0.15 per share, which was less than the projected loss of $0.27 per share. Adjusted EBITDA was reported at $20.0 million, marking a substantial increase from the previous year.
In addition to financial results, the company has faced regulatory challenges. Applied Therapeutics received a Complete Response Letter from the U.S. Food and Drug Administration for its drug govorestat, due to clinical application deficiencies. Despite this, the company is discussing potential resubmission or appeal options with the FDA.
The company is also developing a treatment for Sorbitol Dehydrogenase Deficiency, with a New Drug Application submission expected in 2025. This development has been acknowledged for its potential value by analysts from Baird and RBC Capital Markets, despite their respective downgrades of the company's stock.
Furthermore, the company announced the resignation of a director and is actively seeking a replacement. These are the recent developments within Applied Therapeutics.
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