Deal Details

Applied Therapeutics Completes $74 Million Follow-On Offering

Healthcare

Applied Therapeutics follow-on offering

Summary

Applied Therapeutics, Inc. (“Applied Therapeutics”) (NASDAQ-GM: APLT) recently completed an underwritten public offering of 3,450,000 shares of its common stock at a public offering price of $23.00 per share. The offering included the exercise in full by the underwriters of their option to purchase an additional 450,000 shares of common stock at the public offering price. The total gross proceeds to Applied Therapeutics from the offering are approximately $79.4 million.

Baird served as lead manager on this offering.

About

Applied Therapeutics is a clinical-stage biopharmaceutical company developing a pipeline of novel product candidates against validated molecular targets in indications of high unmet medical need. Applied Therapeutics’ lead drug candidate, AT-007, is a novel central nervous system penetrant aldose reductase inhibitor (ARI) for the treatment of Galactosemia, a rare pediatric metabolic disease. Applied Therapeutics initiated a pivotal Phase 1/2 clinical trial in June 2019, read out positive top-line biomarker data in adult Galactosemia patients in January 2020 and announced full data from the trial in April 2020. A pediatric Galactosemia study commenced in June 2020. Applied Therapeutics is also developing AT-001, a novel potent ARI that is being developed for the treatment of Diabetic Cardiomyopathy, or DbCM, a fatal fibrosis of the heart. Applied Therapeutics initiated a Phase 3 registrational study in DbCM in September 2019. The preclinical pipeline also includes AT-003, an ARI designed to cross through the back of the eye when dosed orally, for the treatment of diabetic retinopathy, as well as novel dual PI3k inhibitors in preclinical development for orphan oncology indications. Applied Therapeutics, Inc. is headquartered in New York, New York.

Healthcare

Applied Therapeutics follow-on offering