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Riccardo Perfetti, the Chief Medical (TASE:BLWV) Officer of Applied Therapeutics, Inc. (NASDAQ:APLT), reported the sale of 10,366 shares of the company’s common stock on March 4, 2025. The transaction occurred as the stock trades near $0.50, down over 92% in the past year. According to InvestingPro data, the company’s market capitalization stands at $58.29 million. The shares were sold at a price of $0.44 each, amounting to a total transaction value of $4,561. Following this sale, Perfetti holds 890,409 shares directly.
The transaction was conducted to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units, as noted in the filing. This sale was not a discretionary transaction by Perfetti but was executed to satisfy tax liabilities through a "sell to cover" arrangement. InvestingPro analysis shows the company maintains a WEAK financial health score, with its next earnings report due on March 14, 2025. Subscribers can access 12 additional ProTips and comprehensive financial metrics in the Pro Research Report.
In other recent news, Applied Digital Corporation reported fiscal second-quarter results that exceeded analyst expectations. The company posted adjusted earnings per share of -$0.06, surpassing the consensus estimate of -$0.14. Revenue reached $63.9 million, marking a 51% year-over-year increase and slightly beating the forecast of $63.39 million. A significant contributor to this growth was the Cloud Services segment, which saw revenue surge by 523% year-over-year to $27.7 million. Additionally, the company announced a $5 billion perpetual preferred equity financing facility with Macquarie Asset Management, aiming to strengthen its position as a leading high-performance computing data center operator in the U.S.
Meanwhile, Applied Therapeutics, Inc. is facing potential delisting from the Nasdaq Stock Market due to non-compliance with the minimum bid price requirement. The company’s stock has closed below the $1.00 minimum bid price for 30 consecutive business days. Applied Therapeutics has been given until August 6, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 per share for 10 consecutive business days. The company is currently exploring options to address this issue, although no specific course of action has been decided.
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