Applied Therapeutics executive sells $17,151 in stock

On February 6, 2025, Constantine Chinoporos, the Chief Operating Officer and Chief Business Officer of Applied Therapeutics, Inc. (NASDAQ:APLT), a clinical-stage biopharmaceutical company with a market capitalization of $71.2 million, sold 28,117 shares of the company’s common stock. The company’s stock has experienced significant volatility, declining over 90% in the past six months, according to InvestingPro data. The shares were sold at a price of $0.61 each, amounting to a total transaction value of $17,151. Following this transaction, Chinoporos holds 271,883 shares of Applied Therapeutics.

According to the filing, this sale was conducted to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units and was not a discretionary transaction by Chinoporos.

In other recent news, Applied Digital Corporation exceeded fiscal second-quarter estimates, with both revenue and adjusted earnings surpassing analyst projections. The company reported adjusted earnings per share of -$0.06, beating the analyst consensus of -$0.14. Revenue was reported at $63.9 million, marking a 51% increase year over year, and slightly above estimates of $63.39 million.

Key growth drivers included Applied Digital’s Cloud Services segment, which saw revenue surge 523% year over year to $27.7 million. The company’s Data Center Hosting business also contributed significantly, generating $36.2 million in revenue for the quarter. Despite a net loss of $138.7 million for the quarter, largely due to non-cash charges related to debt conversion and fair value adjustments, adjusted EBITDA rose 93% year over year to $21.4 million.

Applied Digital also recently announced a $5 billion perpetual preferred equity financing facility with Macquarie Asset Management for its high-performance computing business. This agreement positions the company to become a top-tier high-performance computing data center operator in the United States. While the company did not provide specific financial guidance, it expressed confidence in leveraging the growing demand for power and data centers to support AI and high-performance computing applications.

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