Layoffs continue, Applied Therapeutics (NASDAQ: APLT) cut 46% of workforce

Applied Therapeutics Inc. (NASDAQ: APLT) announced that its board of directors has initiated a process to explore strategic alternatives for the clinical-stage biopharmaceutical company.

The board stated it will evaluate opportunities to maximize shareholder value, including potential mergers, acquisitions, partnerships, joint ventures, licensing arrangements or other strategic transactions. The company has not established a timeline for completing the strategic review process.

In connection with the strategic evaluation, Applied Therapeutics is reducing its workforce by approximately 46% and implementing additional cost-containment and cash conservation measures.

“Our commitment to bringing govorestat to patients with rare diseases remains unwavering,” said Les Funtleyder, interim CEO and CFO. “To further advance this mission while maximizing value for shareholders, the Board has initiated a process to explore strategic alternatives designed to preserve our cash runway.”

The company provided updates on its regulatory progress with govorestat, its lead drug candidate for treating rare metabolic diseases. Applied Therapeutics completed a Type C meeting with the FDA regarding govorestat for Charcot-Marie-Tooth Sorbitol Dehydrogenase Deficiency treatment in the third quarter of 2025. The company is evaluating the meeting minutes and expects to request an additional Type C meeting to discuss a potential Phase 3 trial design.