Applied Therapeutics Joins Russell 3000 Index

NEW YORK, July 01, 2024 — Applied Therapeutics, Inc. (Nasdaq: APLT), a clinical-stage biopharmaceutical firm focused on developing innovative drug candidates for high unmet medical needs, announced its inclusion in the Russell 3000® Index. This addition became effective following the U.S. market close on June 28, 2024, as part of the annual reconstitution of the Russell indexes.

Shoshana Shendelman, PhD, Founder and CEO of Applied Therapeutics, expressed that the inclusion in the Russell 3000® Index signifies the company's advancements as a publicly traded entity dedicated to tackling diseases lacking treatment options. She highlighted that the company is at a crucial juncture with several significant milestones on the horizon, particularly concerning regulatory updates for govorestat, a potential treatment for Classic Galactosemia and SORD Deficiency. Both diseases are uncommon, progressive, and present considerable opportunities to meet patient needs.

The Russell 3000® Index is a market capitalization-weighted equity index that reflects the performance of the largest 3,000 U.S. stocks. The annual reconstitution of Russell's U.S. Indexes involves capturing the 4,000 largest U.S. stocks as of the end of April each year, ranked by market capitalization. Membership in the Russell 3000® Index automatically includes companies in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index, as well as the relevant growth and value style indexes. The Russell 3000® also serves as a U.S. component of the Russell Global Index. The selection for Russell indexes is primarily based on objective market capitalization rankings and style attributes.

Russell indexes are widely recognized and used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. In fact, over $10 trillion in assets are benchmarked against Russell’s U.S. Indexes. These indexes are part of FTSE Russell, a prominent global index provider.

Applied Therapeutics is dedicated to advancing a pipeline of novel drug candidates targeting validated molecular targets in areas of significant unmet medical need. The company's leading drug candidate, govorestat, is a new central nervous system (CNS) penetrant Aldose Reductase Inhibitor (ARI) intended for the treatment of CNS rare metabolic diseases, which include Galactosemia, SORD Deficiency, and PMM2-CDG. Additionally, Applied Therapeutics is developing AT-001, another potent ARI, aimed at treating Diabetic Cardiomyopathy (DbCM), a fatal heart fibrosis. The company’s preclinical pipeline also features AT-003, an ARI designed for oral administration to treat Diabetic Retinopathy by targeting the back of the eye.

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