Applied Therapeutics falls after heart drug disappoints in late-stage trial
05/01/2024 11:13
** Drug developer Applied Therapeutics' shares APLT.O fall
30.1% to $2.70 premarket
** After market close on Thursday, co reported its drug
AT-001 was not statistically significant vs placebo in a
late-stage trial to treat patients with diabetic cardiomyopathy
at high risk of heart failure
** Diabetic cardiomyopathy, which develops in diabetic
patients in the absence of coronary artery disease and
hypertension, is a major cause of heart failure
** Stock fell ~38% after the bell on Thursday
** While a trend favored active treatment, the difference
between the active- and placebo-treated groups was not
statistically significant - company
** APLT said the study's full results will be presented at
an upcoming medical conference and plans to focus on identifying
partnerships to take AT-001 to patients
** Stock rose more than 4 fold in 2023
(Reporting by Pratik Jain in Bengaluru)
((Pratik.Jain@thomsonreuters.com;))