Applied Therapeutics Inc. (NASDAQ: APLT) is a biotech company with a focus on galactosemia, diabetes, and cardiovascular conditions. Its lead candidate is AT-007 which will be at the front of galactosemia conditions in young children. With its market capitalization of $54 million, APLT is a small company, but one that holds immense potential, going forward.
Beaten Down APLT Stock Sees Bounce-Back
Applied Therapeutics Inc. (APLT) has been performing spectacularly in the markets since new year’s day, rising from $0.75 to $1.17 in less than a full month. Earlier the stock had been beaten down bloody by bears after the FDA failed its AT-007 candidate from qualifying for accelerated approval. The mass selloff that ensued brought APLT to levels that could not justify in terms of the potential inherent to its development pipeline. The company clearly shows immense promise as being among the primary treatment providers for galactosemia in young children.
Lucrative Partnership for Applied Therapeutics
In addition to the market players facing the undervaluation inherent to APLT stock, it has seen several other price catalysts taking it to all-new heights. The most significant of these was the agreement with the British company, Advanz Pharma. This strategic arrangement revolves around APLT’s lead candidate, AT-007, and relates to its commercialization across Europe. From a business point of view, the venture is highly lucrative for Applied Therapeutics, especially since it has now within its grasp a clear launchpad into the markets across European countries. Therefore, the arrangement is essentially a financial one that will see APLT receive funding of $140 million over the course of milestone achievements.
Conclusion
APLT has been seeing a brilliant rise in the secondary markets as of late, as bulls have been rushing to take it to new heights. The rise comes after a depressed price trend, triggered by its lucrative partnership with Advanz Pharma.