Applied therapy

NEW YORK, June 22, 2022 (GLOBE NEWSWIRE) — Applied Therapeutics, Inc. (NASDAQ: APLT) (the “Company”), a clinical-stage biopharmaceutical company developing a pipeline of novel drug candidates against validated molecular targets in indications of high unmet medical need, today announced the price of its underwritten public offering of 20.0 million common shares, with a par value of $0.0001 per share, 10.0 million warrants of pre-funded subscription to purchase common stock in lieu of common stock from certain investors, and warrants (“common warrants”) to purchase up to 30.0 million shares of its common stock. Each Common Share and the accompanying Common Warrant are being offered at a combined public offering price of $1.00, less underwriting rebates and commissions, and each Pre-funded Warrant and Common Warrant accompanies are offered at a combined public offering price of $0.9999, less discounts and subscription fees. The pre-funded warrants have an exercise price of $0.0001 per share and the ordinary warrants have an exercise price of $1.00 per share. The Prefunded Warrants and the Ordinary Warrants are immediately exercisable and will expire five years from the date of issue. The Company’s gross proceeds from the offering, before deducting underwriting rebates and commissions and offering fees payable by the Company, are expected to be $30 million.

The Company intends to use the net proceeds of this offering for general corporate purposes. General business objectives may include research and development costs, including the conduct of clinical trials and process development and manufacturing of the Company’s product candidates, expanding the research and development capabilities of the Company, working capital and capital expenditures.

SVB Securities acts as sole bookrunner for the offering. The offering is expected to close on June 27, 2022, subject to customary closing conditions.

The offering is being made only by means of a previously filed effective registration statement (including a base prospectus) and a preliminary prospectus supplement. Copies of the final prospectus supplement and accompanying prospectus relating to the proposed offering, when available, may be obtained from SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by phone at 1-800-808-7525 ext. 6105, or by email at [email protected] Before investing, you should read the prospectus of this registration statement and other documents the Company has filed with the SEC for more complete information about the Company and the proposed offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and there will be no sale of these securities in any state in which such offer, solicitation or sale would be unlawful. prior to registration or qualification under the securities laws of such state or territory.

About applied therapy
Applied Therapeutics is a clinical-stage biopharmaceutical company developing a pipeline of novel drug candidates against validated molecular targets in indications of high unmet medical need. The Company’s lead drug candidate, AT-007, is a novel central nervous system-penetrating aldose reductase inhibitor (ARI) for the treatment of rare metabolic CNS diseases, including galactosemia, SORD deficiency and PMM2-CDG. The Company is also developing AT-001, a powerful new ARI, for the treatment of diabetic cardiomyopathy, or DbCM, a fatal fibrosis of the heart. The preclinical pipeline also includes AT-003, an ARI designed to cross the back of the eye when administered orally, for the treatment of diabetic retinopathy, as well as novel PI3k dual inhibitors in preclinical development for orphan oncology indications.

Forward-looking statements
This press release contains “forward-looking statements”, including, but not limited to, statements regarding the Company’s intended use of the net proceeds of the offering and other statements regarding the offering, which involve substantial risks and uncertainties for safe harbor purposes. provided for by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, included in this press release regarding management’s strategy, future operations, prospects, plans and objectives, including including words such as “may”, “will”, “expect”, “anticipate”, “plan”, “intend” and similar expressions (as well as other words or expressions referring to future events, conditions or circumstances) are forward-looking statements. The forward-looking statements contained in this release involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, and therefore we cannot assure you that our plans, intentions , expectations or strategies will be met or achieved.

These risks and uncertainties include, but are not limited to, factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release are discussed in our filings with the Securities and Exchange Commission, including the “Risk Factors” contained therein. Except as required by law, we disclaim any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.

contacts

Investors:
Maeve Conneighton
(212) 600-1902 or
[email protected]

Media:
[email protected]

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