Applied Therapeutics dips after FDA extends review of its genetic disease drug

Applied Therapeutics

01/04/2024 12:26

** Shares of drug developer Applied Therapeutics  APLT.O 
fall 14.26% to $5.83 premarket
    ** Co said late on Thursday the U.S. FDA has extended the
review of its experimental drug Govorestat for the treatment of
a type of rare genetic condition called classic galactosemia by
three months
    ** FDA to now pronounce its decision by Nov. 28, 2024
    ** The regulatory body says it requires additional time to
review supplemental analyses of previously submitted data
    ** Galactosemia is a rare genetic metabolic disease
resulting in an inability to metabolize the simple sugar
galactose
    ** Up to last close, stock has doubled YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))