Applied Therapeutics, Inc. Announces Closing of Public Offering

NEW YORK, Feb. 22, 2021 (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 closing of its public offering of 3,000,000 shares of its common stock, par value $0.0001 per share.  The shares were offered at a price to the public of $23.00 per share, resulting in aggregate net proceeds of approximately $64.6 million, after deducting underwriting discounts and commissions and estimated offering expenses.  The offering closed on February 17, 2021.  The Company granted the underwriters a 30-day option to purchase up to 450,000 additional shares of its common stock at the price to the public, less underwriting discounts and commissions, which the underwriters exercised in full on February 17, 2021 and settled on February 19, 2021.

The Company intends to use the net proceeds from this offering, together with its existing cash, to advance clinical and preclinical development of its product candidates, prepare for commercialization and other general corporate purposes.

Goldman Sachs & Co. LLC, Cowen and UBS Investment Bank acted as joint book-running managers for the offering. Baird acted as lead manager for the offering.

The offering was 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 the accompanying prospectus relating to the proposed 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].