This past Thursday, Applied Therapeutics, Inc., a clinical-stage biopharmaceutical company, saw a 16 percent increase in its share price. This growth was in response to the promising interim 12-month results of the Phase 3 INSPIRE trial they are currently conducting. The trial, which has hit both its primary and several secondary endpoints, is in the process of researching SORD deficiency, otherwise known as Sorbitol dehydrogenase deficiency.
As of present, the shares of Applied Therapeutics are up 16.04 percent, equating to $3.11, a significant leap from the previous close-out price of $2.68. This comes following the trading volume of 3,752,156. Over the past year, the stocks have ranged in price from $0.757 to $4.42 on the Nasdaq.
The phase 3 of INSPIRE trial that is driving these changes is a double-blind placebo-controlled study. It focuses on patients suffering from SORD deficiency, which is a hereditary neuropathy causing a progressive and debilitating effect on peripheral nerves and motor neurons. SORD deficiency often results in substantial disability, sensory function loss, and reduction in mobility.
In light of these promising results, Applied Therapeutics has plans to meet with the neurology department of the U.S. Food and Drug Administration for a pre-NDA meeting. The purpose of this meeting is to discuss the potential for approval based on the success of their current data.
