Drugmaker to Pay $15 Million to End Investor’s FDA Letter Suit

Applied Therapeutics Inc. agreed to fork over $15 million plus stock warrants to resolve investor allegations the biopharmaceutical company misrepresented approval odds for treatment of a rare metabolic disorder treatment.

Applied will offer warrants to buy up to one million shares of common stock with an exercise price of $0.48 each, with a term of one year from settlements enactment, the shareholder leading the proposed class said while seeking preliminary approval of the deal Tuesday. Assuming the US District Court for the Southern District of New York approves the accord, investor Dr. Martin Dietrich’s lead counsel will decide whether or ...