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Diabetic cardiomyopathy biotech Applied Therapeutics sets terms for $60 million IPO

April 29, 2019

Applied Therapeutics, a Phase 2 biotech developing therapies for diabetic cardiomyopathy, announced terms for its IPO on Monday.

The New York, NY-based company plans to raise $60 million by offering 4 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Applied Therapeutics would command a fully diluted market value of $292 million.

Applied Therapeutics was founded in 2016 and plans to list on the Nasdaq under the symbol APLT. Citi, Cowen and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of May 6, 2019.