Why Is Rare Disease-Focused Applied Therapeutics Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Applied Therapeutics Inc (NASDAQ:APLT) shares surged 34.70% to $3.61 after announcing positive interim 12-month results from its Phase 3 INSPIRE trial for govorestat (AT-007) in treating SORD Deficiency. The trial met its primary and key secondary endpoints, demonstrating significant reductions in toxic sorbitol levels and improvements in patient mobility and well-being. The company plans to request a pre-NDA meeting with the FDA.
February 15, 2024 | 8:25 pm
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Applied Therapeutics Inc shares jumped after reporting positive results from its Phase 3 INSPIRE trial for govorestat in SORD Deficiency, showing significant patient improvements and planning for FDA approval.
The significant rise in APLT's stock price is directly attributed to the positive outcomes of the Phase 3 INSPIRE trial for govorestat, which met its primary and key secondary endpoints. The successful trial results, coupled with the company's intention to seek FDA approval, have likely bolstered investor confidence, leading to a sharp increase in stock price. The data indicating govorestat's efficacy in reducing toxic sorbitol levels and improving patient mobility and well-being are critical factors driving the positive market reaction.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100