Applied Therapeutics shares are trading lower after the company announced that the FDA extended the review period for the NDA for govorestat for the treatment of Classic Galactosemia by three months.
Portfolio Pulse from Benzinga Newsdesk
Applied Therapeutics' stock is trading lower following the announcement that the FDA has extended the review period for the NDA of govorestat, aimed at treating Classic Galactosemia, by three months.
March 28, 2024 | 8:50 pm
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NEGATIVE IMPACT
Applied Therapeutics' shares are trading lower due to the FDA's decision to extend the review period for govorestat's NDA by three months.
The FDA's decision to extend the review period for govorestat, a key drug in Applied Therapeutics' pipeline, directly impacts the company's short-term stock performance. Investors may view this delay as a potential setback, leading to decreased confidence and a lower stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100