Cycle Pharmaceuticals Extends Tender Offer for Applied Therapeutics

Cycle Group Holdings Limited extends deadline for acquisition of Applied Therapeutics, Inc.

Jan. 29, 2026 at 3:47am

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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 63,684,636 shares, or 41.29% of Applied Therapeutics' outstanding shares, have been validly tendered and not withdrawn.

Why it matters

The acquisition of Applied Therapeutics would expand Cycle Pharmaceuticals' portfolio of rare disease treatments, strengthening its position in the underserved rare disease community. The extension of the tender offer deadline suggests that Cycle is still working to secure the necessary shareholder support to complete the transaction.

The details

The tender offer, which was initially announced on December 29, 2025, is for $0.088 per share in cash, plus one non-tradeable contingent value right per share. The offer is conditioned on the tender of a majority of Applied Therapeutics' outstanding shares. Cycle has filed the necessary regulatory documents with the SEC, and the tender offer and related materials have been made available to Applied Therapeutics' shareholders.

  • The tender offer was initially announced on December 29, 2025.
  • The offer was previously scheduled to expire at 11:59 p.m. Eastern time on January 27, 2026.
  • The 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., which is making the tender offer to acquire Applied Therapeutics, Inc. Cycle Pharmaceuticals is a UK-based 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, which is making the tender offer to acquire Applied Therapeutics, Inc.

Applied Therapeutics, Inc.

A Delaware-based biopharmaceutical company that is the target of the tender offer by Cycle Group Holdings Limited and AT2B, Inc.

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What’s next

The judge will decide on Tuesday whether to allow Walker Reed Quinn to be released on bail.

The takeaway

This extension of the tender offer deadline suggests that Cycle Pharmaceuticals is still working to secure the necessary shareholder support to complete the acquisition of Applied Therapeutics, which would expand Cycle's portfolio of rare disease treatments and strengthen its position in the underserved rare disease community.