Applied Therapeutics Inc. reported significant financial challenges in its latest 10-Q filing for the quarter ending June 30, 2025. The company recorded no revenue during the quarter, a decrease from $144,000 in the same period last year. For the first half of 2025, total revenue also remained at zero, compared to $334,000 for the first half of 2024. The absence of revenue is attributed to a decline in research and development services revenue, primarily due to reduced deferred revenue recognition related to the Advanz Agreement.
The company's financial performance reflects a net loss of $21.3 million for the second quarter of 2025, compared to a net income of $2.9 million in the same quarter of 2024. For the first half of 2025, the net loss was $43.2 million, a notable improvement from a loss of $81 million in the first half of 2024. The increase in losses is largely due to rising general and administrative expenses, which surged to $30.9 million in the first half of 2025 from $19.6 million in the prior year, driven by legal and professional fees related to ongoing litigation and regulatory responses.
Operationally, Applied Therapeutics has been focusing on its clinical development programs, particularly for its lead candidate, AT-007, which is under review for the treatment of Classic Galactosemia. The company is also advancing its research on AT-001 for diabetic cardiomyopathy. In a strategic move, Applied Therapeutics entered into an out-licensing agreement with Biossil, Inc. for AT-001, receiving an upfront payment of $1 million and potential future royalties and milestone payments. This agreement is part of the company's strategy to secure funding and expand its product pipeline.
As of June 30, 2025, Applied Therapeutics had cash and cash equivalents of $30.4 million, a decrease from $79.4 million at the end of 2024. The company has expressed substantial doubt about its ability to continue as a going concern, citing the need for additional financing to support ongoing operations and clinical trials. The company is actively pursuing various financing options, including equity capital and collaborations, to address its liquidity needs. Looking ahead, Applied Therapeutics anticipates continued operating losses as it invests in the development of its product candidates and navigates regulatory challenges.
About Applied Therapeutics Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.