Applied Therapeutics, Inc. Announces Offering of 1,750,000 Shares of Common Stock

NEW YORK, Jan. 21, 2020 (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 that it plans to make a public offering of 1,750,000 shares of its common stock, par value $0.0001 per share, in an underwritten registered public offering. The Company expects to grant the underwriters a 30-day option to purchase up to 262,500 additional shares of common stock.

The Company intends to use the net proceeds from this offering, together with its existing cash and cash equivalents, to advance AT-007 for the treatment of Galactosemia including pre-launch activities and preparing for a potential commercial launch, to fund clinical development of AT-001 for treatment of Diabetic Cardiomyopathy as well as pre-launch activities, to advance AT-003 for the treatment of diabetic retinopathy through a planned Phase 1 clinical trial; to further develop its pipeline, including other candidates, formulations and derivatives, and to fund other research and development activities, working capital and other general corporate purposes.

Goldman Sachs & Co. LLC, Cowen and UBS Investment Bank are acting as joint book-running managers for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the final size or terms of the offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: [phone], facsimile: 212-902-9316 or by emailing [e-mail]; Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, or by telephone at [phone]; or UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at [phone] or by email at [e-mail].