Applied Therapeutics promotes two executives to leadership roles

NEW YORK - Applied Therapeutics, Inc. (NASDAQ:APLT), a biopharmaceutical company with a market capitalization of approximately $50 million, announced on Tuesday the promotion of Evan Bailey, MD, to Chief Medical Officer and Dottie Caplan to Executive Vice President of Patient Advocacy and Government Affairs. According to InvestingPro data, the company maintains a strong liquidity position with cash reserves exceeding its debt obligations.

Bailey, who joined the company in 2021, will lead clinical development and medical affairs activities for the biopharmaceutical firm’s late-stage development programs. He succeeds Riccardo Perfetti, MD, PhD, who has served as CMO since 2018 and will remain available to ensure a smooth transition.

Prior to joining Applied Therapeutics, Bailey served as Medical Director at Vertex Pharmaceuticals, where he led the U.S. launch of TRIKAFTA for cystic fibrosis treatment in 2019. He also previously worked as an Assistant Professor of Pediatrics at the University of Massachusetts Medical School.

Caplan, who has been with the company since April 2020, will oversee patient engagement and advocacy efforts along with regulatory, legislative, and public policy functions. Before joining Applied Therapeutics, she was Vice President of Patient Advocacy and Engagement at Vertex.

"Evan has played a fundamental role in progressing our development programs since joining Applied four years ago," said John H. Johnson, Executive Chairman of Applied Therapeutics, in the company’s statement.

Applied Therapeutics is focused on developing treatments for rare diseases, with its lead drug candidate govorestat targeting conditions including Classic Galactosemia, Charcot-Marie-Tooth Sorbitol Dehydrogenase Deficiency, and phosphomannomutase 2 congenital disorder of glycosylation.

The information in this article is based on a press release from the company.

In other recent news, Applied Therapeutics held its Annual Meeting of Stockholders, where several key proposals were voted on. Stockholders elected a Class III director to serve until the 2028 Annual Meeting and ratified Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. Additionally, an advisory vote approved the executive compensation, and stockholders favored an annual "say-on-pay" vote. A significant development was the approval of an amendment to the company’s Certificate of Incorporation to effect a reverse stock split, with the ratio to be determined by the board. In another update, Applied Therapeutics announced the appointment of Dr. Todd F. Baumgartner as the new Chief Regulatory Officer. Dr. Baumgartner brings over 35 years of pharmaceutical industry experience, having led 12 New Drug Applications to approval. His extensive background includes roles at Ovid Therapeutics, Acorda Therapeutics, and Purdue Pharma. John H. Johnson, Executive Chairman of Applied Therapeutics, highlighted Dr. Baumgartner’s expertise as essential for the company’s future projects.

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