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IPO Roundup: Applied Therapeutics recovers in first full day of trading, ConversionPoint postpones

The diabetic-therapy developer which got off to a rough start following its IPO gained some ground as its shares climbed
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ConversionPoint Holdings postponed its $40 million IPO on Wednesday

Applied Therapeutics (NASDAQ:APLT) gained some ground Wednesday after a rough start following its IPO. The developer of therapies for diabetic complications priced at $10, well below the previously announced range of $14 to $16, and opened trading at $9.40 on Tuesday. Founded in 2016, the company’s lead drug candidate, AT-001, is being developed to treat Diabetic Cardiomyopathy, a disorder of the heart muscle in people with diabetes.

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Shares climbed 7.1% Wednesday to $10.07.

ConversionPoint Holdings Inc

ConversionPoint Holdings Inc (NASDAQ:CPTI) elected Wednesday to postpone its IPO. The California e-commerce tech firm had planned to issue 6.15 million shares on Wednesday, pricing between $6 and $7 to raise $40 million. A new IPO date was not announced.

ConversionPoint Holdings provides marketing, content and sales support to clients like The Coca-Cola Co (NYSE:KO) and Microsoft Corporation (NASDAQ:MSFT). In the last twelve months, ConversionPoint clocked $113.1 million in revenue, and a net loss of $44.2 million.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel


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