A little biotech slaps back at a 'criminal' short attack, vowing to pursue a prosecution of their case
As short attacks go, Biotech Research Partners’ assault on Applied Therapeutics’ “cherry picked” data and a variety of so-called red flags didn’t cause a whole lot of damage. Ahead of the July 4 holiday, its shares $APLT were dinged and showed signs of quick recovery.
But that didn’t stop an incendiary response, as the biotech swung into action bright and early Monday morning.
Applied Therapeutics accused the authors of the short report of manipulating graphs and figures, misrepresenting data and included factual misrepresentations — all of which added up, in their view, to fraud.
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