Cycle Pharmaceuticals Extends Tender Offer for Applied Therapeutics

Cycle Group Holdings Limited extends deadline for acquiring majority stake in Applied Therapeutics.

Jan. 28, 2026 at 8:15am

Got story updates? Submit your updates here. ›

Cycle Group Holdings Limited, the parent company of AT2B, Inc., has extended the expiration date of its tender offer to purchase all outstanding shares of Applied Therapeutics, Inc. The offer, which was previously set to expire on January 27, 2026, has been extended until January 28, 2026. As of the previous expiration date, approximately 41.29% of Applied Therapeutics' outstanding shares had been validly tendered.

Why it matters

The acquisition of Applied Therapeutics would expand Cycle Pharmaceuticals' rare disease drug portfolio and strengthen its presence in the neurology market, particularly in multiple sclerosis. The extension of the tender offer deadline suggests Cycle is still working to acquire a majority stake in Applied Therapeutics.

The details

Under the terms of the tender offer, Cycle is offering $0.088 per share of Applied Therapeutics' common stock, plus one non-tradeable contingent value right per share. The offer is conditioned on Cycle acquiring a majority of Applied Therapeutics' outstanding shares. Cycle has filed the necessary tender offer and solicitation/recommendation statements with the SEC, and Applied Therapeutics' shareholders can access these documents online.

  • The tender offer was previously scheduled to expire at 11:59 p.m. Eastern time on January 27, 2026.
  • The tender offer has now been extended until 11:59 p.m. Eastern time on January 28, 2026.

The players

Cycle Group Holdings Limited

The parent company of AT2B, Inc. and a pharmaceutical company focused on delivering drug treatments and product support to the rare disease community.

AT2B, Inc.

A Delaware corporation and an indirect wholly owned subsidiary of Cycle Group Holdings Limited that is making the tender offer to acquire Applied Therapeutics.

Applied Therapeutics, Inc.

A Delaware corporation that is the target of the tender offer by Cycle Group Holdings Limited's subsidiary.

Got photos? Submit your photos here. ›

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This acquisition, if successful, would bolster Cycle Pharmaceuticals' position in the rare disease drug market and expand its neurology portfolio, particularly in multiple sclerosis. The extension of the tender offer deadline suggests Cycle is still working to acquire a majority stake in Applied Therapeutics.