Applied Therapeutics, Inc. (NASDAQ: APLT) today announced the pricing of its public offering of 2,741,489 shares of its common stock, par value $0.0001 per share, at a price to the public of $45.50 per share. The gross proceeds to the Company from the offering, before deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company, are expected to be approximately $124.7 million. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 411,223 shares of common stock at the price to the public, less underwriting discounts and commissions. The offering was upsized from the previously announced offering size of 1,750,000 shares of common stock.

The Company intends to use the net proceeds from this offering, together with its existing cash and cash equivalents, to advance AT-007 for the treatment of Galactosemia including pre-launch activities and preparing for a potential commercial launch, to fund clinical development of AT-001 for treatment of Diabetic Cardiomyopathy as well as pre-launch activities, to advance AT-003 for the treatment of diabetic retinopathy through a planned Phase 1 clinical trial; to further develop its pipeline, including other candidates, formulations and derivatives, and to fund other research and development activities, working capital and other general corporate purposes.

Goldman Sachs & Co. LLC, Cowen, Barclays and UBS Investment Bank are acting as joint book-running managers for the offering. The offering is expected to close on January 28, 2020, subject to customary closing conditions.