By Colin KellaherApplied Therapeutics Inc. shares tumbled more than 25% in early trading Monday after the biopharmaceutical company reported further delays in its effort to seek U.S. Food and Drug Administration approval of its lead product candidate. The company said clinical outcomes in the Phase 3 study of AT-007 are assessed every six months, with the first assessment slated for completion in the first quarter. There are currently no drugs approved for galactosemia, which hinders the body's ability to process and produce energy from a sugar called galactose. Applied Therapeutics shares were recently changing hands at $6.65, down 25.7%, after hitting a 52-week low of $6 early in the session. The stock is more than 75% below the 52-week high of $29.80 it reached last February.

Source: Wall Street Journal January 03, 2022 18:25 UTC