Applied Therapeutics rises as US FDA cancels panel meeting for genetic disorder drug
18/09/2024 12:55
** Shares of drug developer Applied Therapeutics APLT.O
rise 20.22% to $5.75 premarket
** 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
** Up to previous close, stock up ~39% YTD
(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com;))