Applied Therapeutics 2025 Q3 Earnings Narrowed Net Loss of $18.99M 72.3% Improvement

Applied Therapeutics (APLT) reported fiscal 2025 Q3 results on Nov 13, 2025, showcasing a 72.3% reduction in net loss year-over-year to $18.99 million, with revenue surging 719.7% to $1 million. The company exceeded Wall Street expectations, with EPS of -$0.13, beating forecasts by $0.03, and plans to advance regulatory discussions for govorestat in key indications.

Revenue

License revenue accounted for the entirety of the $1 million total revenue, driven by a 719.7% year-over-year increase from $122,000 in 2024 Q3. The sharp growth underscores the company’s focus on monetizing intellectual property amid ongoing clinical trials for govorestat.

Earnings/Net Income

The company narrowed its net loss to $18.99 million in Q3 2025, a 72.3% improvement from $68.59 million in 2024 Q3. Earnings per share improved to -$0.13 from -$0.48, reflecting cost reductions and operational efficiency. While losses persist, the trajectory signals progress in aligning expenses with strategic priorities.

Post-Earnings Price Action Review

APLT’s stock plummeted 51.38% in a single trading day, 63.87% over the week, and 76.52% month-to-date, reflecting investor concerns over regulatory uncertainties and limited liquidity. Despite beating earnings expectations and securing constructive FDA feedback, the sharp price decline highlights skepticism about the company’s ability to achieve near-term milestones or secure additional funding.

CEO Commentary

Les Funtleyder, interim CEO and CFO, emphasized regulatory progress, including a Type C meeting with the FDA for govorestat in CMT-SORD and plans to address a 2024 Complete Response Letter for Classic Galactosemia. Positive clinical data from PMM2-CDG trials reinforced govorestat’s potential, though Funtleyder cautioned that the company remains focused on long-term development amid cash constraints.

Guidance

APLT plans to submit a new Type C meeting request with the FDA to finalize Phase 3 trial design for CMT-SORD and schedule a Q4 2025 meeting for Classic Galactosemia. Cash and equivalents stood at $11.9 million as of Sept 30, 2025, down from $79.4 million in December 2024, raising concerns about liquidity.

Additional News

Applied Therapeutics announced the resignation of Executive Chairman John Johnson in November 2025 for personal reasons, marking a leadership transition. The company also published new data on govorestat’s safety profile for PMM2-CDG in JIMD and at ASHG, reinforcing its potential in rare diseases. A scheduled FDA meeting in Q4 2025 for Classic Galactosemia aims to resolve outstanding regulatory issues from a 2024 Complete Response Letter.