Applied Therapeutics, Inc. (APLT) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: November 13, 2025

Risk Assessment Details

Potential Dilution: 61.39% of current shares
Recent Dilution: 25.53% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
150M
Potential Supply
89M
Additional shares possible
Splits
None
Past 2 years

Summary

APLT currently has 146M outstanding shares. with significant dilution risk as 89.4M authorized shares could dilute existing holders by 61.4%. The company has significantly diluted shareholders by 25.53% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Nov 13, 2025

10-Q filing | 145.6M shares outstanding

150M 89M
Aug 29, 2025

8-K filing: Applied Therapeutics, Inc. may offer and sell shares of its common stock with an aggregate offering price of up to $75,000,000 through Cantor Fitzgerald & Co. Also, Applied Therapeutics, Inc. terminated the Leerink Partners Sales Agreement, after selling 20,615,976 shares of Common Stock for net proceeds of approximately $49.3 million. ($49.3M proceeds)

150M 89M
Aug 13, 2025

10-Q filing | 145.1M shares outstanding

150M 89M
May 14, 2025

10-Q filing | 144.8M shares outstanding

140M 89M
Apr 15, 2025

10-K filing | 139.5M shares outstanding

140M 89M
Nov 07, 2024

10-Q filing | 116.4M shares outstanding

120M 89M
Aug 07, 2024

10-Q filing | 114.8M shares outstanding

110M 89M
May 09, 2024

10-Q filing | 125.3M shares outstanding

130M 89M
Mar 22, 2024

S-3 filing: The filing is an S-3 registration statement for a shelf offering of up to 14,285,714 shares of common stock for resale by selling stockholders, including 2,000,000 shares issuable upon exercise of pre-funded warrants.

110M 89M
Mar 06, 2024

10-K filing | 105.9M shares outstanding

110M 75M
Nov 09, 2023

10-Q filing | 77.2M shares outstanding

77M 75M
Oct 13, 2023

8-K filing: Applied Therapeutics, Inc. entered into an exchange agreement with entities affiliated with Venrock Healthcare Capital Partners, exchanging 5,658,034 shares of common stock for pre-funded warrants to purchase 5,658,034 shares of common stock, with an exercise price of $0.001 per share.

63M 75M
Aug 10, 2023

10-Q filing | 63.1M shares outstanding

63M 75M
May 12, 2023

S-3 filing: The filing is an S-3 registration statement for Applied Therapeutics, Inc., covering the potential issuance of common stock upon warrant exercises, resale of common stock by selling stockholders, and other securities up to an aggregate offering price of $300,000,000.

56M 75M
May 11, 2023

10-Q filing | 56.4M shares outstanding

56M 5.1M
Apr 27, 2023

8-K filing: Applied Therapeutics, Inc. completed a private placement on April 26, 2023, selling 9,735,731 shares of common stock and 22,000,000 pre-funded warrants at $0.946 per share/warrant, resulting in gross proceeds of approximately $30 million. ($60.0M proceeds)

48M 5.1M
Mar 23, 2023

10-K filing | 48.1M shares outstanding

48M 5.1M
Nov 09, 2022

10-Q filing | 48.0M shares outstanding

48M 5.1M
Aug 12, 2022

10-Q filing | 46.3M shares outstanding

46M 5.1M
Jun 27, 2022

8-K filing: Applied Therapeutics, Inc. closed an underwritten public offering on June 27, 2022, involving the issuance and sale of 20,000,000 shares of common stock, 10,000,000 pre-funded warrants, and accompanying warrants to purchase up to 30,000,000 shares of common stock, with Alexandria Venture Investments, LLC purchasing 3,500,000 shares and 1,500,000 Pre-Funded Warrants. ($30.0M proceeds)

26M 5.1M
May 12, 2022

10-Q filing | 26.2M shares outstanding

26M 5.1M
Mar 10, 2022

10-K filing | 25.6M shares outstanding

26M 5.1M
Nov 12, 2021

10-Q filing | 26.2M shares outstanding

26M 5.1M
Aug 12, 2021

10-Q filing | 26.1M shares outstanding

26M 5.1M
May 11, 2021

10-Q filing | 26.1M shares outstanding

26M 5.1M
Mar 18, 2021

10-K filing | 26.0M shares outstanding

26M 5.1M
Feb 17, 2021

8-K filing: Applied Therapeutics, Inc. completed a public offering of 3,000,000 shares of common stock at a price of $23.00 per share on February 17, 2021.

22M 5.1M
Nov 12, 2020

10-Q filing | 22.5M shares outstanding

22M 5.1M
Aug 11, 2020

10-Q filing | 22.4M shares outstanding

22M 5.1M
Jun 12, 2020

S-3/A filing: Applied Therapeutics, Inc. is offering up to $100,000,000 of common stock through an equity distribution agreement with Goldman Sachs & Co. LLC as a sales agent in "at-the-market" offerings.

22M 5.1M
Jun 05, 2020

S-3 filing: Applied Therapeutics, Inc. files an S-3 form to offer and sell up to $100,000,000 of its common stock through an equity distribution agreement with Goldman Sachs & Co. LLC as the sales agent, in at-the-market offerings.

22M 4.9M
Jun 05, 2020

POS AM filing: This POS AM filing describes an offering of 1,380,344 shares of common stock. The selling stockholders will receive all of the net proceeds from the sale of the shares, and the company will not receive any proceeds from this offering.

22M 4.9M
May 11, 2020

10-Q filing | 22.0M shares outstanding

22M 2.6M
Mar 16, 2020

POS AM filing: This POS AM filing from 2020-03-16 details a common stock offering of 1,380,344 shares, with 21,969,277 shares outstanding as of February 29, 2020.

22M 2.6M
Mar 13, 2020

10-K filing | 22.0M shares outstanding

22M 2.6M
Jan 23, 2020

S-1/A filing: This S-1/A filing includes information about the company's common stock offering, including the number of shares to be offered, outstanding shares, and the use of proceeds.

19M 2.6M
Jan 21, 2020

S-1 filing: This S-1 filing includes information on outstanding shares of common stock, voting rights, dividends, liquidation preferences, and rights of common stockholders. It also details a proposed offering of 1,750,000 shares of common stock at an assumed price of $48.86 per share, with an option for underwriters to purchase an additional 262,500 shares. The net proceeds are intended for advancing clinical trials, developing pipeline candidates, and general corporate purposes.

19M 1.8M
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