Applied Therapeutics jumps as US FDA cancels panel meeting for genetic disorder drug

Applied Therapeutics

18/09/2024 15:16

(Updates)
    ** Shares of drug developer Applied Therapeutics  APLT.O 
jump 61.94% to more than six-month high of $7.53
        ** Set for biggest one-day gain on record 
  
    ** Co says U.S. Food and Drug Administration no longer plans
to hold advisory committee meeting for its genetic disorder
drug, govorestat
    ** The FDA in March extended its review of the experimental
treatment for classic galactosemia
    ** The panel meeting of experts was previously tentatively
scheduled for Oct. 9
    ** FDA's previously announced action date for the drug on
track for Nov. 28
    ** Galactosemia is a rare genetic metabolic disorder
resulting in an inability to metabolize the simple sugar,
galactose
    ** Including session's gains, stock has more than doubled
YTD

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