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BUZZ-Applied Therapeutics plummets after FDA declines to approve genetic disease drug

Reuters
2024/11/28
BUZZ-Applied <a href="https://laohu8.com/S/LENZ">Therapeutics</a> plummets after FDA declines to approve genetic disease drug

** Shares of Applied Therapeutics APLT.O fall 80.3% to $1.70 after the bell

** Company says the U.S. FDA declined to approve its drug to treat galactosemia, a rare genetic metabolic disease

** The FDA's letter to the company said the marketing application for the drug, govorestat, cannot be approved in its current form, due to certain deficiencies - APLT

** Galactosemia can cause neurological complications, including deficiencies in speech, cognition, behavior and motor skills

** Up to last close, stock up more than double YTD

(Reporting by Christy Santhosh)

((Christy.Santhosh@thomsonreuters.com))

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