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Diabetic cardiomyopathy biotech Applied Therapeutics prices IPO at $10, well below the range

May 14, 2019
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Applied Therapeutics, a Phase 2 biotech developing therapies for diabetic complications, raised $40 million by offering 4 million shares at $10, well below the range of $14 to $16. Applied Therapeutics plans to list on the Nasdaq under the symbol APLT. Citi, Cowen and UBS Investment Bank acted as lead managers on the deal.