Davis Polk advised the underwriter, SVB Securities, in the offering.
Applied Therapeutics, Inc. announced its offering of 20,000,000 shares of common stock, pre-funded warrants to purchase up to 10,000,000 shares of common stock and accompanying warrants to purchase up to 30,000,000 shares of common stock. The offering resulted in approximately $30 million of proceeds to Applied Therapeutics, before deducting underwriting discounts and estimated offering expenses. Applied Therapeutics’ common stock is listed on the Nasdaq Global Market under the symbol “APLT.”
Applied Therapeutics is a clinical-stage biopharmaceutical company developing a pipeline of novel product candidates against validated molecular targets in indications of high unmet medical need. The company’s first molecular target is aldose reductase, or AR, an enzyme that converts glucose to sorbitol under oxidative stress conditions, and is implicated in multiple diseases. The company has also developed a program targeting selective inhibition of phosphatidylinositol 3-kinase subunits for an early-stage oncology pipeline.
The Davis Polk corporate team included partner Richard D. Truesdell Jr. (Picture), counsel Jeffrey S. Ramsay and associate Courtney Y. Sohn. Partner Po Sit, counsel Aliza Slansky and associate Yueyu Yang provided tax advice. The intellectual property and technology transactions team included partner David R. Bauer and associate Alison T. Chin.
Involved fees earner: David Bauer – Davis Polk & Wardwell; Alison Chin – Davis Polk & Wardwell; Jeffrey Ramsay – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; Aliza Slansky – Davis Polk & Wardwell; Courtney Sohn – Davis Polk & Wardwell; Richard Truesdell Jr. – Davis Polk & Wardwell; Yueyu Yang – Davis Polk & Wardwell;
Law Firms: Davis Polk & Wardwell;
Clients: SVB Securities;