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International Business Times
International Business Times
Carla St. Louis

Biopharmaceutical Company's Stock Plunges 75% After FDA Rejects New Drug

FDA the Food and Drug Administration
WHITE OAK, MD - JULY 20: A sign for the Food And Drug Administration is seen outside of the headquarters on July 20, 2020 in White Oak, Maryland. (Credit: Sarah Silbiger/Getty Images)

Applied Therapeutics' stock plummeted 75 percent after the Food and Drug Administration (FDA) rejected approving govorestat as a treatment for galactosemia.

The stock closed at $2.03, reported Yahoo Finance.

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