Applied Therapeutics (APLT) AI Stock Analysis

• Market Cap: $14.86M
• Dividend Yield: N/A
• Average Volume (3M): 17.54M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.86
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 35
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.13
• Shares Outstanding: 144,300,670
• 10 Day Avg. Volume: 47,414,159
• 30 Day Avg. Volume: 17,542,089
• PEG Ratio: 0.02
• Price to Book (P/B): 2.10
• Price to Sales (P/S): 262.57
• P/FCF Ratio: -1.42
• Enterprise Value/Market Cap: 0.36
• Enterprise Value/Revenue: 5.42
• Enterprise Value/Gross Profit: -0.19
• Enterprise Value/Ebitda: -0.05
• 1Y Price Target: $0.25
• Price Target Upside: 150.00% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: $0.10 ▼(-2.00% Downside)

The score is driven primarily by very weak financial performance (large losses, heavy cash burn, and negative equity) and highly negative corporate developments (merger-related control change and Nasdaq delisting/deregistration). Technicals also reflect a prolonged downtrend, while valuation offers limited support due to negative earnings and no dividend.

Positive Factors

Focused rare-disease R&D pipeline

A concentrated small-molecule pipeline targeting rare diseases is a durable strategic advantage: niche focus can reduce competitive pressure, benefit from orphan incentives and premium pricing if approved, and allow the company to allocate limited resources to high-impact indications where clinical success yields outsized commercial value.

Low absolute debt, meaningful asset base

Modest nominal debt levels reduce near-term fixed financing obligations and bankruptcy risk compared with highly leveraged peers, giving the company structural flexibility to pursue R&D or restructure. The asset base provides some tangible runway even as equity is pressured by losses.

Completed merger with cash tender and CVR

The acquisition transaction is a structural change that supplies immediate cash consideration to shareholders and creates a CVR framework for milestone payments, while new ownership can supply private funding, strategic direction and operational flexibility without public-market reporting constraints.

Negative Factors

Persistent heavy cash burn

Sustained negative operating and free cash flow at this scale forces continual external financing, increasing dilution risk or dependence on acquirer funding. Over months this depletes liquidity buffers and raises the probability of restructuring if clinical progress or financing stalls.

Substantial operating losses and negative gross profit

Very large operating losses and negative gross profit reflect costs far outpacing revenues; this structural unprofitability means the company must achieve significant clinical or commercial scale to reach sustainable margins, lengthening the path to self-funded operations.

Nasdaq delisting, deregistration and leadership turnover

Voluntary delisting and deregistration materially reduce market liquidity, transparency and access to public capital. Combined with wholesale leadership change, this raises execution and governance risk and may complicate future fundraising or partner engagement over the medium term.

Applied Therapeutics Business Overview & Revenue Model

Company Description

Applied Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops novel products to target cardiovascular disease, galactosemia, and diabetic complications. Its lead product candidate is AT-007 that has completed phase 1/2 for the treatment of galactosemia in healthy volunteers and adults, as well as is in pediatric clinical study for the treatment of galactosemia in kids; for treating sorbitol dehydrogenase deficiency; and for the treatment of phosphomannomutase enzyme-CDG. The company also develops AT-001 that is in phase III clinical trials for treating diabetic cardiomyopathy, as well as for the treatment of diabetic peripheral neuropathy. Its preclinical stage products include AT-003 for the treatment diabetic retinopathy; AT-104, a PI3K inhibitor for treating orphan hematological oncology T Cell Acute Lymphoblastic Leukemia. Applied Therapeutics, Inc. was incorporated in 2016 and is headquartered in New York, New York.

How the Company Makes Money

Applied Therapeutics generates revenue primarily through the development and commercialization of its drug candidates. The company invests heavily in clinical trials to bring its products to market, seeking regulatory approvals from agencies like the FDA. Once approved, revenues are expected from product sales and potential partnerships or licensing agreements with larger pharmaceutical companies. These partnerships may provide milestone payments, royalties, or co-development funding. The success of its revenue model is contingent on the successful clinical development and commercialization of its therapies.

Applied Therapeutics Financial Statement Overview

Summary

Despite a sharp TTM revenue rebound, fundamentals remain very weak with deeply negative gross profit, large operating losses (EBIT about -$98.4M), heavy ongoing cash burn (OCF/FCF about -$86.8M), and slightly negative equity—pointing to elevated funding risk and limited financial flexibility.

Income Statement

TTM (Trailing-Twelve-Months) revenue rebounded sharply (up ~720%), but the core earnings picture remains very weak: gross profit is deeply negative and operating losses are substantial (EBIT roughly -$98.4M). Net income is still negative in TTM, and profitability has deteriorated versus 2023 despite the revenue jump—suggesting costs are running far ahead of commercial scale.

Balance Sheet

Leverage is low in absolute dollars (TTM total debt ~$2.5M), but the capital structure is pressured: stockholders’ equity is slightly negative in TTM (about -$0.6M) versus positive equity in 2024, indicating balance sheet erosion from ongoing losses. Total assets are meaningful (~$34.4M TTM), but the negative equity raises financing risk and reduces financial flexibility.

Cash Flow

Cash burn remains heavy and persistent: TTM operating cash flow and free cash flow are both about -$86.8M, and free cash flow declined further versus the prior period (negative growth). Cash generation does not currently support the business model, implying continued dependence on external funding until operating losses narrow materially.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.00M	455.00K	9.99M	0.00	0.00	0.00
Gross Profit	-28.45M	-48.29M	-43.91M	-441.00K	0.00	0.00
EBITDA	-100.52M	-104.30M	-64.53M	-82.07M	-105.62M	-94.47M
Net Income	-18.14M	-105.62M	-119.76M	-82.51M	-105.58M	-93.96M
Balance Sheet
Total Assets	34.37M	86.69M	54.83M	38.36M	89.89M	104.51M
Cash, Cash Equivalents and Short-Term Investments	11.95M	79.40M	49.90M	30.58M	80.82M	96.83M
Total Debt	2.50M	2.79M	777.00K	1.98M	2.12M	2.81M
Total Liabilities	34.94M	29.68M	71.98M	34.30M	27.35M	22.57M
Stockholders Equity	-561.00K	57.01M	-17.15M	4.06M	62.54M	81.94M
Cash Flow
Free Cash Flow	-86.85M	-84.31M	-55.17M	-78.09M	-90.73M	-78.21M
Operating Cash Flow	-86.85M	-84.31M	-55.17M	-78.09M	-90.73M	-78.21M
Investing Cash Flow	0.00	0.00	13.87M	13.17M	12.43M	-19.47M
Financing Cash Flow	-75.00K	113.81M	74.54M	27.69M	74.72M	136.29M

Applied Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APLT, the sentiment is Negative. The current price of 0.1 is below the 20-day moving average (MA) of 0.10, below the 50-day MA of 0.15, and below the 200-day MA of 0.46, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 33.98 is Neutral, neither overbought nor oversold. The STOCH value of 53.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for APLT.

Applied Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STTK	53 Neutral	$243.63M	-3.50	-57.84%	―	-84.46%	33.32%
ONCY	52 Neutral	$96.85M	-2.98	-745.66%	―	―	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
FATE	51 Neutral	$132.66M	-0.80	-52.35%	―	-46.92%	20.26%
NKTX	47 Neutral	$145.61M	-1.38	-26.69%	―	―	25.84%
CRDF	44 Neutral	$106.43M	-1.86	-102.71%	―	-27.29%	16.40%
APLT	40 Underperform	$14.86M	-1.03	-680.47%	―	―	―

Applied Therapeutics Corporate Events

Applied Therapeutics completes merger and Nasdaq delisting move

On February 3, 2026, Applied Therapeutics completed a merger that triggered its decision to voluntarily delist its shares from the Nasdaq Stock Market and deregister them under the Securities Exchange Act of 1934, meaning its stock ceased trading on Nasdaq and the company plans to suspend its public reporting obligations. As part of the transaction, the existing board members and key officers resigned at the effective time of the merger, with James Harrison, formerly the sole director and president of the acquiring entity, becoming the sole director and president of Applied Therapeutics, and Andrea Reiner assuming the role of company secretary, marking a full shift of corporate control to the buyer’s leadership team.

The most recent analyst rating on (APLT) stock is a Sell with a $0.09 price target. To see the full list of analyst forecasts on Applied Therapeutics stock, see the APLT Stock Forecast page.

Applied Therapeutics Announces Merger with Cycle Group

On December 11, 2025, Applied Therapeutics announced a merger agreement with Cycle Group Holdings Limited, where Cycle will acquire all outstanding shares of Applied Therapeutics. The transaction involves a tender offer for $0.088 per share in cash plus a contingent value right (CVR) for potential additional payments based on certain milestones. The merger is expected to close in the first quarter of 2026, subject to customary conditions. The Applied Board of Directors unanimously approved the agreement, viewing it as the best strategic option for the company and its shareholders.

The most recent analyst rating on (APLT) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Applied Therapeutics stock, see the APLT Stock Forecast page.

Applied Therapeutics Announces Strategic Review and Workforce Cuts

On November 20, 2025, Applied Therapeutics announced a strategic review to explore alternatives like mergers or partnerships to maximize shareholder value. As part of this process, the company plans to reduce its workforce by 46% by the end of December 2025, aiming to conserve cash and maintain its commitment to developing treatments for rare diseases.

The most recent analyst rating on (APLT) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Applied Therapeutics stock, see the APLT Stock Forecast page.