Earnings News Alert: Applied Therapeutics (NASDAQ:APLT)

Applied Therapeutics (NASDAQ:APLT) stock observed trading -22.84% off 52-week high price. On the other end, the stock has been noted 8.68% away from low price over the last 52-weeks. The stock disclosed a move of -10.95% away from 50 day moving average and -10.95% away from 200 day moving average. Moving closer, we can see that shares have been trading -10.38% off 20-day moving average. It has market cap of $147.33M .

Applied Therapeutics (NASDAQ:APLT), a clinical-stage biopharmaceutical company developing novel drug candidates in indications of high unmet medical need, announced financial results for the first quarter ended March 31, 2019.

Financial Results

Cash and cash equivalents totaled $14.7 million as of March 31, 2019, compared with $18.7 million at December 31, 2018.  Subsequent to the close of the quarter, we completed an initial public offering resulting in net proceeds of approximately $34.0 million.

Research and development expenses for the three months ended March 31, 2019 were $6.9 million, compared to $1.5 million for the three months ended March 31, 2018. The increase of approximately $5.4 million was primarily related to the progressing of our clinical trials through development, including an increase in clinical and pre‑clinical expenses of $4.1 million and drug manufacturing and formulation expenses of $0.7 million, and personnel expenses of $0.7 million due to the hiring of research and development personnel, including the Chief Medical Officer in August 2018.

General and administrative expenses were $1.9 million for the three months ended March 31, 2019, compared to $0.4 million for the three months ended March 31, 2018. The increase of approximately $1.4 million was primarily related to professional fees of $0.7 million due to increased legal and consulting fees, personnel expenses of $0.4 million due to the hiring of other personnel, including the interim Chief Financial Officer and the Controller, and other expenses of $0.3 million, primarily due to public relations efforts, travel expenses and rent.

Net loss for the first quarter of 2019 was $8.7 million, or $1.58 per basic and diluted common share, compared to a net loss of $2.3 million, or $.43 per basic and diluted common share, for the first quarter of 2018.

The USA based company Applied Therapeutics moved with change of -6.59% to $8.64 with the total traded volume of 70644 shares in recent session versus to an average volume of 104.39K. The stock was observed in the 5 days activity at 1.05%. The one month performance of stock was -13.60%. APLT’s shares are now at -8.09% since this point in 2018.  The average volatility for the week and month was at 10.80% and 6.89% respectively. There are 17.05M shares outstanding and 2.46M shares are floated in market.

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