Applied Therapeutics

Applied Therapeutics has completed its merger with Cycle Group Holdings and is now an indirect wholly owned subsidiary of Cycle Group. Cycle Group subsidiary AT2B acquired all outstanding shares for $0.088 per share; shareholders also received a non-tradable CVR with potential payments of up to $0.40. Applied filed to suspend trading, delist and deregister with the SEC; the board and several executives resigned, and James Harrison took over leadership. Cycle is integrating the lead drug candidate Govorestat into its portfolio; analysts sharply cut ratings and price targets for Applied stock following the transaction. » More on de.investing.com

Cycle Group Holdings has extended the deadline for its takeover offer for Applied Therapeutics to 11:59 p.m. ET on January 29, 2026. Cycle is offering $0.088 per share in cash plus a non-tradable contingent value right; the price is close to the stock’s 52-week low. The board of directors of Applied Therapeutics unanimously recommends tendering the shares and warns that, if tendering is insufficient, liquidation and the immediate repayment of an $8.5 million promissory note to Cycle would likely follow. Financial data show a weak financial picture with negative EBITDA and significant financial challenges for Applied Therapeutics. » More on de.investing.com

Applied Therapeutics has launched a process to evaluate strategic options such as M&A, partnerships and licensing agreements to maximize shareholder value. At the same time, the company is reducing costs by cutting 46% of its workforce; it did not disclose exact employee numbers. The stock fell sharply last year and the company reported a negative EBITDA of USD 99.61 million, but says it has more cash than debt. Applied Therapeutics is reviewing FDA Type C meeting minutes for its lead candidate govorestat and considering next steps, after also agreeing a $75 million share sale facility with Cantor Fitzgerald. » More on de.investing.com