Here's Why Applied Therapeutics Rocketed Higher Today

Shares of Applied Therapeutics (NASDAQ: APLT) are up 29% at 12:38 p.m. EST after the biotech reported positive data from a phase 2 clinical trial of AT-007 in galactosemia patients.

People with galactosemia can't properly process a sugar called galactose, which is found in food and also made by the body. The disorder results in the buildup of galactitol, which causes a range of issues, from complications in the central nervous system to cataracts in patients' eyes.

At the highest dose tested, AT-007 reduced plasma galactitol by 45% to 54%, while placebo had no substantial effect on galactitol levels. The difference was statistically significant.

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Source Fool.com