Applied Therapeutics shares are trading higher after the company announced FDA acceptance and priority review of the NDA for govorestat for the treatment of Classic Galactosemia. The company also announced a $100 million private placement.
Portfolio Pulse from Benzinga Newsdesk
Applied Therapeutics' stock is trading higher following the FDA's acceptance and priority review of the NDA for govorestat, aimed at treating Classic Galactosemia. Additionally, the company has announced a $100 million private placement.
February 28, 2024 | 2:04 pm
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Applied Therapeutics' shares are experiencing an uptick due to the FDA's acceptance and priority review of govorestat for Classic Galactosemia treatment, coupled with a $100 million private placement.
The FDA's acceptance and priority review of a New Drug Application (NDA) is a significant positive development for any pharmaceutical company, indicating a faster review process that could lead to earlier market entry. This, combined with the announcement of a substantial $100 million private placement, suggests strong financial backing and confidence in the company's future, likely leading to increased investor interest and a positive short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100