Applied Therapeutics, Inc. Announces Closing of Public Offering and Exercise in Full of the Underwriters’ Option to Purchase 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.
A registration statement on Form S-1 relating to the offering and an additional registration statement filed pursuant to Rule 462(b) were each declared effective on
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, included in this press release regarding strategy, future operations, prospects, plans and objectives of management, including words such as “may,” “will,” “expect,” “anticipate,” “plan,” “intend,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are forward-looking statements. These include, without limitation, statements regarding (i) the design, scope and results of our clinical trials, (ii) the timing of the initiation and completion of our clinical trials, (iii) the likelihood that data from our clinical trials will support future development of our product candidates, (iv) the likelihood of obtaining regulatory approval of our product candidates and qualifying for any special designations, such as orphan drug designation, (v) our cash runway and the timing of our clinical development plan and (vi) our ability to complete the offering and our related use of proceeds. Forward-looking statements in this release involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, and we, therefore cannot assure you that our plans, intentions, expectations or strategies will be attained or achieved. Such risks and uncertainties include, without limitation, the uncertainties inherent in the initiation, execution and completion of clinical trials, in the timing of availability of trial data, in the results of the clinical trials, in the actions of regulatory agencies, in the commercialization and acceptance of new therapies. Factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in our filings with the
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Source: Applied Therapeutics