12 Best Penny Stocks to Invest in According to the Media

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4. Applied Therapeutics, Inc. (NASDAQ:APLT)

Share Price (As of January 3): $0.94

Number of Hedge Fund Holders: 24

Applied Therapeutics, Inc. (NASDAQ:APLT) is a clinical-stage biopharmaceutical firm that is focused on developing a pipeline of novel drug candidates to fight validated molecular targets in indications of high unmet medical need.

Applied Therapeutics, Inc.’s (NASDAQ:APLT) lead drug candidate, govorestat, recently received a rejection from the FDA, as the regulator spotted issues with the New Drug Application (NDA). Govorestat is being developed to cure patients suffering from central nervous system rare metabolic diseases such as Galactosemia, Sorbitol Dehydrogenase Deficiency, and PMM2-CDG.

The company is set to review the potential causes of the FDA decline and submit the NDA by next year. Applied Therapeutics is also working on AT-001 for the treatment of fatal fibrosis of the heart and has completed the third phase trials. Applied Therapeutics, Inc. (NASDAQ:APLT) is yet to make a major development to inspire long-term confidence among investors. A notable number of hedge funds hold a stake in APLT as one key development can make a big move for the company.

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