Applied Therapeutics (NASDAQ:APLT) stock is falling on Friday following the release of Phase 3 clinical trial data from the clinical-stage biopharmaceutical company.
This data comes from Applied Therapeutics’ ARISE-HF Phase 3 trial of AT-001 in patients with Diabetic Cardiomyopathy who have a high risk of overt heart failure. Unfortunately, the study failed to meet its primary endpoint of stabilization or improvement in cardiac functional capacity when compared to a placebo.
While it didn’t meet its primary endpoint, Applied Therapeutics is still seeking to further develop the drug. The company hopes that the ability to stabilize might assist Diabetic Cardiomyopathy patients since there aren’t any current therapies approved for this.
Riccardo Perfetti, MD, PhD, Chief Medical Officer of Applied Therapeutics, said the following about the results:
“AT-001 stabilized cardiac functional capacity as compared to placebo, and prevented clinically significant worsening of disease, an effect which was strengthened in patients not on concomitant treatment with an SGLT2 or GLP-1. Given its favorable safety and tolerability profile and oral dosing, we believe that AT-001 represents an important potential tool for physicians in treatment of DbCM patients.”
APLT Stock Movement Today
APLT stock is down 29.6% as of Friday morning. That comes as some 417,000 shares of the stock change hands. For the record, the company’s daily average trading volume is still well above that at 1.1 million shares.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
