Applied Therapeutics explores strategic alternatives, reduces workforce by 46%

Applied Therapeutics (APLT) announced that Applied Therapeutics’ Board of Directors has initiated a process to explore strategic alternatives for the Company. The Board intends to evaluate a broad range of opportunities to maximize shareholder value. Strategic alternatives under consideration may include, but are not limited to, mergers, acquisitions, partnerships, joint ventures, licensing arrangements or other strategic transactions. The Board is committed to acting in the best interests of all stockholders. Consistent with its fiduciary duties and responsibilities, the Board will, in consultation with its financial and legal advisors, carefully evaluate and consider all options. The Company has not set a timetable for completion of the process for evaluating strategic alternatives. The Company does not intend to make any further public comment regarding the strategic review process unless and until it determines that further disclosure is appropriate or necessary. There is no assurance that this strategic review will result in a transaction or any other particular outcome. In connection with the evaluation of strategic alternatives, the Company is reducing the Company’s workforce by approximately 46%, in addition to other cost-containment and cash conservation measures.