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APLT News
APLT Events
Applied Therapeutics Releases Shareholder Letter, Cycle Group Extends Tender Offer to January 29, 2026
Applied Therapeutics released the following letter to stockholders regarding the pending tender offer by AT2B, an indirect wholly owned subsidiary of Cycle Group Holdings. "As announced on December 11, 2025, we entered into a definitive agreement with Cycle, a United Kingdom-based company focused on rare genetic conditions in metabolic, immunology, urology and oncology, for Cycle to acquire the Company. On January 29, 2026, Cycle announced that Purchaser has further extended the expiration date of its tender offer to purchase all of the outstanding shares of common stock, par value $0.0001 per share of the Company for $0.088 per share, net to the seller in cash, without interest, plus one non-tradeable contingent value right per share until one minute following 11:59 p.m. Eastern Time on January 29, 2026. Our Board of Directors of the Company, including myself, remains fully committed to advancing govorestat, a potentially life-changing therapy for patients with Classic Galactosemia, CMT-SORD, and PMM2-CDG... If a sufficient number of shares are not tendered and the Offer cannot be completed, your investment may be exposed to significant risks, including the following: Liquidation and Dissolution - if the Offer is not completed and the transaction with Cycle is terminated, the Company will likely pursue a wind-down of its operations or liquidation and the Company's stockholders are not expected to receive any proceeds... Acceleration of Obligations Under Promissory Note - Cycle issued a promissory note to the Company pursuant to which Cycle has advanced an aggregate of $8.5 million to the Company, bearing interest at a fixed rate equal to 24.0% per annum, with default interest of an additional 5.0% payable on demand during an event of default... Lack of Strategic Alternatives - prior to entering into the Merger Agreement with Cycle, the Company contacted numerous potential counterparties, and the Company Board, after a thorough review of possible alternative strategic alternatives reasonably available to the Company determined that the Offer and the transaction with Cycle represent the Company's best reasonably available prospect for maximizing stockholder value... Share Price Decline - if the Offer is not consummated, the trading price of the Company's shares may decline, particularly to the extent the current market price reflects investor expectations that the Offer will be completed."
Baird Downgrades Applied Therapeutics to Neutral with Price Target Cut to 25 Cents
Baird analyst Brian Skorney downgraded Applied Therapeutics to Neutral from Outperform with a price target of 25c, down from $2, after Applied agreed to be acquired by Cycle Group for 8.8c per share in cash payable at closing plus one non-transferrable contingent value right that entitles the holder to receive potential additional payments.
Applied Therapeutics Trading Resumes
Applied Therapeutics trading resumes
Cycle Group to Acquire Applied Therapeutics at $0.088 per Share
Applied Therapeutics announced a definitive agreement for Cycle Group to acquire Applied Therapeutics. Cycle will commence a tender offer to acquire all of the outstanding shares of Applied common stock for a per share price of 8.8c per share in cash payable at closing plus one non-transferrable contingent value right, or CVR, that entitles the holder to receive potential additional payments. The CVR provides payments based on the following: up to 10c per CVR in cash payable upon FDA approval of a new drug application for any galactosemia indication prior to the eighth anniversary of closing; up to 10c per CVR in cash payable upon FDA approval of a new drug application for the CMT-SORD indication prior to the eighth anniversary of closing; up to 20c per CVR in cash payable upon the first achievement of worldwide net sales of any product covered by the CVR by Cycle equal to or exceeding $200M in any four-quarter fiscal period prior to the tenth anniversary of closing. Each CVR holder will also be entitled to receive their pro rata share of any cash of Applied in excess of $500K at closing, capped at $1.5M. The transaction is subject to customary closing conditions, including the tender of a majority of the outstanding shares of Applied common stock. The transaction is expected to close in 1Q26. The Applied Board of Directors determined that entering into the merger agreement with Cycle represented the path that best advanced the interests of Applied and its stockholders.
Applied Therapeutics Trading Halted, News Pending
Applied Therapeutics trading halted, news pending
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