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Sep 30, 2025
Applied Therapeutics Q3 2025 Earnings Report
Applied Therapeutics reported a narrower net loss in Q3 2025, with modest revenue from licensing and significantly reduced expenses year-over-year.
Key Takeaways
Applied Therapeutics posted a $19M net loss in Q3 2025 on $1M in licensing revenue, with reduced R&D and G&A costs helping to shrink losses compared to the prior year.
Posted $1M in licensing revenue in Q3 2025, compared to minimal revenue last year.
Net loss narrowed to $19M from $68.6M in Q3 2024.
R&D and G&A expenses were significantly reduced year-over-year.
Cash and cash equivalents dropped to $11.9M, down from $79.4M at year-end 2024.
Forward Guidance
The company is focusing regulatory efforts on advancing govorestat for rare disease indications, including planned meetings with the FDA and further trial development.
Positive Outlook
- Received Type C meeting minutes from the FDA for CMT-SORD program
- Scheduled FDA meeting in Q4 for Classic Galactosemia review
- Promising new clinical data for PMM2-CDG published and presented
- Continued govorestat safety profile supports long-term treatment
- Maintaining strategic regulatory discussions for accelerated approval paths
Challenges Ahead
- No clear path forward yet for NDA submission in CMT-SORD
- Significant cash burn reduced liquidity to $11.9M
- Still reporting substantial net losses despite lower expenses
- Uncertainty remains on outcomes of upcoming FDA meetings
Historical Earnings Impact
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Avg. Return Before/After Earnings
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