Wait for Galactosemia Therapy Goes on After FDA Shuns Applied Therapeutics' Govorestat

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William Blair Maintains Applied Therapeutics(APLT.US) With Buy Rating

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FDA rejected the drug Applied Therapeutics in a complete response letter, causing a 78% plunge in after-hours trading.

On Wednesday, $applied therapeutics(APLT.us)$ plummeted by 78% after hours to $1.89. On the news front, the US FDA has rejected the company's application for govorestat to treat the rare metabolic disease classic galactosemia. In a comprehensive response letter, the FDA stated that due to deficiencies in the application, it could not approve the drug. The company stated it is reviewing the FDA's feedback and will request a meeting with the institutions to discuss the necessary conditions for a potential resubmission. Govorestat is currently targeting sorbitol dehydrogenase.

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Applied Therapeutics Down 76% After Hours on FDA Complete Response Letter

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