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      What Caused The APLT Stock To Rise Afterhours? - Stocks Telegraph

      By ST Staff

      Published on

      June 29, 2021

      8:33 AM UTC

      What Caused The APLT Stock To Rise Afterhours? - Stocks Telegraph

      Applied Therapeutics Inc. (APLT) was up 4.32% in after-hours trading at $22.70. Regular session trading saw APLT stock decreased -12.15% or $3.00. APLT stock fluctuated between $21.6162 and $25.00 during trading. It was 0.21 million shares that changed hands on the day, exceeding the firm’s daily volume for the past 50 days, which was 0.1 million shares, and exceeding its average daily volume for the year to date, which is 0.12 million.

      APLT stock has gained -38.43% in the past 12 months, and it has lost -8.42% in the past week. APLT stock has lost -2.42% over the last six months, and it has increased 18.84% over the last three months. Stocks in APLT have returned -1.14% so far this year. After falling 12% in regular sessions and becoming part of Russell index, APLT stock recovered in extended trades.

      When did APLT become part of the index?

      Biopharmaceutical company Applied Therapeutics develops novel drug candidates for indications with a high unmet medical need against validated molecular targets. APLT’s lead compound candidate AT-007 is an Aldose Reductase Inhibitor (ARI) that targets metabolic diseases of the CNS including Galactosemia, SORD Deficiency, PMM2-CDG and other rare metabolic diseases.

      At the same time, APLT is developing AT-001, a novel potent ARI, for the treatment of Diabetic Cardiomyopathy, or DbCM, a fatal form of heart fibrosis. AT-003 will allow APLT in treatment for Diabetic retinopathy to cross the back of the eye when taken internally, in addition to novel dual PI3K inhibitors for the treatment of orphan oncology indications in preclinical development.

      A recent press release from Applied Therapeutics stated that it has joined Russell Microcap Index. After the market closed on June 25, 2021, the reconstituted index took effect and APLT stock added to that. As a member of the Russell Microcap Index, APLT is automatically included in the appropriate growth and value style indices for one year. According to FTSE Russell, market capitalization rankings and style attributes determine membership in its Russell indexes.

      Applied Therapeutics (APLT) announced that the US Food and Drug Administration (FDA) granted AT-007 Fast Track status for treatment of Galactosemia, a rare metabolic disease. APLT’s AT-007 is a systemically-permeable Aldose Reductase inhibitor in development for multiple rare metabolic diseases, including Galactosemia, SORD and PMM2-CDG.

      How APLT will benefit from Fast Track status?

      The Fast Track designation will help Applied Therapeutics (APLT) develop and review drugs for serious conditions that are unmet medically, meaning that its drugs will be available to patients sooner. Fast Track designation for APLT’s clinical programs means that FDA will be able to communicate with the company early and frequently during the regulatory review process.

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