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NEW YORK, Dec. 28, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Applied Therapeutics, Inc. (NASDAQ: APLT) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Applied Therapeutics, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/applied-therapeutics-inc . Investors have until February 18, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Applied Therapeutics securities. The case is pending in the U.S. District Court for the Southern District of New York and is captioned Alexandru v. Applied Therapeutics, Inc. , et al. , No. 24-cv-09715. What is the Lawsuit About? Applied Therapeutics is a clinical-stage biopharmaceutical company specializing in the development of novel drug candidates against validated molecular targets in rare diseases. The Company’s lead drug candidate, govorestat, is a central nervous system penetrant Aldose Reductase Inhibitor for the treatment of CNS rare metabolic diseases, including Galactosemia. During the relevant period, the Company stated that its New Drug Applications submitted to regulators for govorestat were “supported by rapid and sustained reduction in galactitol, which resulted in a meaningful benefit on clinical outcomes across pediatric patients, alongside a favorable safety profile.” Applied Therapeutics also assured investors that its tests were “performed properly” and that the Company “felt good about the quality of the data,” stating that it “took really extensive steps” and “actually videotaped” and had “master trainers” review all of the performances of the 10-meter walk-run test—the primary endpoint of the Company’s Phase III INSPIRE study for govorestat. The Stock Declines as the Truth is Revealed On November 27, 2024, Applied Therapeutics issued a press release stating that the FDA issued a Complete Response Letter for the NDA for govorestat. The Complete Response Letter stated that the FDA completed its review of the application and determined that it was unable to approve the NDA due to “deficiencies in the clinical application.” This news caused the price of Applied Therapeutics stock to fall more than 80% over the course of multiple trading days, from a closing price of $10.21 per share on November 26, 2024 to a closing price of $1.75 per share on December 2, 2024. Then, on December 2, 2024, Applied Therapeutics revealed that it received a warning letter from the FDA relating to its govorestat study discussing “issues related to electronic data capture” and “a dosing error in the dose-escalation phase of the study resulting in slightly lower levels than targeted in a limited number of patients[.]” This news caused the price of Applied Therapeutics stock to fall more than 26% over the course of multiple trading days, from a closing price of $1.75 per share on December 2, 2024 to a closing price of $1.29 per share on December 5, 2024. Click here for more information: https://www.bfalaw.com/cases-investigations/applied-therapeutics-inc . What Can You Do? If you invested in Applied Therapeutics you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: https://www.bfalaw.com/cases-investigations/applied-therapeutics-inc Or contact: Ross Shikowitz ross@bfalaw.com 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd. For more information about BFA and its attorneys, please visit https://www.bfalaw.com . https://www.bfalaw.com/cases-investigations/applied-therapeutics-inc Attorney advertising. Past results do not guarantee future outcomes.
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(The Center Square) – Momentum is with the emerging electric vehicle industry even with many question marks surrounding energy policy as the Trump administration takes office in January, observers of the industry say. “At the local and state level, there's an incredible amount of energy and action taking place to support transportation electrification,” Ben Prochazka, executive director of the Electrification Coalition, told The Center Square. With Elon Musk, CEO of Tesla Motors, playing a significant role in President-elect Donald Trump’s election and chosen with Vivek Ramaswamy to head his new Department of Government Efficiency, it is also unlikely that the electric vehicle industry will be neglected nationally. “The hope is that Elon Musk has influence in the new administration, which does look to be the case,” said Prochazka. “Hopefully, that means there’s a great recognition around the economic benefits that exist.” It remains to be seen how electric vehicle incentive or tax credit programs – different than mandates – might be affected by Trump’s moves to cut spending. Mainstream outlets have already proclaimed that Trump has an "anti-EV agenda," as a group of automakers urged him to retain a national $7,500 consumer tax credit for electric vehicle purchases. On the other hand, Prochazka said tariffs and the deregulation of the domestic automotive industry could play a positive role in the electric vehicle industry, depending on how they are "established." “With any new administration, there's always going to be question marks about what the prevailing winds are,” explained Prochazka, whose nonpartisan, nonprofit coalition engages in policy development, advocacy campaigns and consumer education. "E verything has the potential to be reevaluated and then changed." Willett Kempton is in the University of Delaware's Department of Electrical and Computer Engineering and has research interests in offshore wind power, electric vehicles and public environmental beliefs and values. He agrees with Prochazka that a lot is still up in the air about Trump’s policy approach to the electric vehicle industry. Certain policies could potentially " slow down" growth domestically, he said. Yet, that wouldn't permanently stop growth. “National governments can slow this growth by policy changes, but that doesn’t change the cost advantages nor the long-term trends,” Kempton told The Center Square. In the past, Republicans generally have been notably skeptical about electric vehicles and especially mandates for them, preferring those powered by fossil fuels. Reliability is among the key drivers of the party's choice when it comes to opposition of the broader green agenda of Democrats. Musk’s involvement has the potential to change that skepticism. Prochazka said he is hopeful for that, emphasizing that his organization believes that electric vehicles should not be a partisan issue. “The last election ultimately created more partisan views on electrification,” he said. “We are working really hard to make sure it's clear that transportation electrification is not a red or a blue issue, but it's really about what's better for the country, especially when you look at it through the lens of global competition. We need to maintain our automotive leadership.” For Prochazka, growing the eclectic vehicle industry is an issue of both “national and economic security.” “The automotive sector is a trillion dollar a year industry that has millions and millions of jobs that are a part of the U.S. automotive sector," he said. "So, as the world goes electric, we need to compete so that we can not only maintain our current market share, but hopefully grow it. There’s a global race to electrification.” There are nearly 2.5 million electric vehicles registered throughout the nation, with the highest percentage of those in California. Even then, only 2.5% of the vehicles in California are electric vehicles and only 6.8% of the vehicles sold nationwide in 2024 were electric. Kempton and Prochazka say the transition to electric vehicles will be inevitable and that America should be the nation leading it. “The shift to electric vehicles is worldwide and there are so many advantages to EVs that this will proceed,” Kempton said. “In most territories, clean energy is already the lowest-cost electricity source and largest amount of new generation being installed. These are driven by market forces and producer projections of where the most future growth will be. So, I would not call these ‘movements’ but rather markets or growth trends and adoption of new technologies.” Only 38% of United States adults say they would even consider buying an electric vehicle. Prochazka said he believes that will continue to change, both as there are nationally moves to protect the economic interests of the United States and as more people get familiar with electric vehicles. “We need to also make sure the U.S. is moving as quickly as possible, so that we can compete with the sort of global efforts to electrify,” he said. “Most people have not gotten behind the wheel and have not plugged one in. I think it’s something that people really just need to try, because then they'll realize this is a much better vehicle. It's just about getting people behind the wheel.”NAPLES, Fla. (AP) — Jeeno Thitikul of Thailand made up a two-shot deficit with two holes to play Sunday with an eagle-birdie finish for a 7-under 65, giving her a one-shot victory over Angel Yin and the $4 million prize — the richest in women's golf — at the CME Group Tour Championship. Yin had a two-shot lead walking to the 17th tee only to wind up settling for the $1 million check as runner-up after closing with a 66. The win and the massive check came down to the 18th hole, Thitikul and Yin tied at 21-under par after the Thai's key eagle. Yin hit her approach to 15 feet and narrowly missed her birdie try, leaving Thitikul to make her winner. It was the second straight day Thitikul finished eagle-birdie. Lydia Ko closed with a 63 to finish third. Nelly Korda, who ends her season with seven wins, had a 66 and tied for fifth. ST. SIMONS ISLAND, Ga. (AP) — Maverick McNealy finally became a winner on the final tournament of his fifth year on the PGA Tour, hitting 6-iron to 5 feet for birdie on the 18th hole at Sea Island for a 2-under 68 and a one-shot victory in the RSM Classic. The victory came in his 134th start as a pro, and it sends him to Maui to start the year at The Sentry and to the Masters in April for the first time. Daniel Berger missed a 20-foot birdie attempt on the 18th that preceded McNealy’s winner. He tied for second with Nico Echavarria and Florida State sophomore Luke Clanton, both of whom missed par putts from inside 8 feet on the final hole that created the four-way tie. Berger got a small consolation prize, moving inside the top 125 to keep a full PGA Tour card for 2025 when the fields will be smaller and only the top 100 will keep cards. Henrik Norlander also moved into the top 125, while Joel Dahmen shot 64 to help him stay at No. 124. BRISBANE, Australia (AP) — Elvis Smylie closed with a 4-under 67 to win the Australian PGA Championship on Sunday by two shots over former mentor Cameron Smith. Smylie built a three-shot lead at the turn and held on to finish at 14-under 199 in a tournament reduced to 54 holes when rained washed out Friday's play. Smith, who fell behind with a bogey on the par-5 ninth hole, shot 69. It was the second straight week Smith had at least a share of the lead going into the final round and failed to win. Marc Leishman and Anthony Quayle finished three back in a tie for third. Smylie, the son of former Australian tennis pro Liz Smylie. won the Cameron Smith Scholarship five years ago that allowed him to spend a week at Smith’s Florida home to learn to live and practice as a PGA Tour professional. He now gets a full card on the European tour, which co-sanctioned the event. Patrick Reed won for the first time in nearly four years, closing with a 4-under 66 to win the Hong Kong Open by three shots on the Asian Tour. Reed shot a 59 in the third round. His last victory was the Farmers Insurance Open in January 2021. He has not won in his three years in the LIV Golf League. ... Hiroshi Iwata made five birdies on the back nine and closed with a 4-under 68 for a one-shot victory over Taisei Shimizu, his seventh career title on the Japan Golf Tour. ... Pieter Moolman closed with a 5-under 67 for a one-shot victory in the PGA Championship on the Sunshine Tour in South Africa. ... Shiho Kuwaki shot even-par 72 to claim a one-shot victory over Sakura Koiwai in the season-ending JLPGA Tour Championship Ricoh Cup on the Japan LPGA. AP golf: https://apnews.com/hub/golf
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Jeeno Thitikul has a $4M finish to win LPGA finale and Maverick McNealy wins first PGA Tour title