Evan Bailey
Applied TherapeuticsAbout Evan Bailey
Evan Bailey, MD, is Chief Medical Officer (CMO) of Applied Therapeutics (APLT) as of June 15, 2025, after joining the company in May 2021 and serving as Executive Medical Director and Senior Vice President, Clinical Development . He previously led the U.S. launch of TRIKAFTA at Vertex, and was an Assistant Professor of Pediatrics at UMass Medical School; training includes residency and fellowship at Boston Children’s Hospital, MD from Loyola University Chicago, MA in Medical Sciences from Boston University, and BS from Boston College . Company performance context during his tenure: the value of a $100 initial investment was $440.79 in 2023 and $112.66 in 2024, with net losses of $119.8m (2023) and $105.6m (2024) ; most recent quarterly net loss was $19.0m in Q3 2025, down from $68.6m in Q3 2024 .
Company pay vs performance metrics
| Metric | 2023 | 2024 |
|---|---|---|
| Value of $100 Initial Investment | $440.79 | $112.66 |
| Net Income ($USD Thousands) | $(119,763) | $(105,600) |
Recent quarterly financial context
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Net Loss ($USD Millions) | $(68.6) | $(19.0) |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Applied Therapeutics | Executive Medical Director | 2021–2025 | Early leadership in clinical programs after joining in May 2021 |
| Applied Therapeutics | SVP, Clinical Development | 2021–2025 | Led clinical development; presented 12–24 month INSPIRE CMT-SORD data and next study design |
| Applied Therapeutics | Chief Medical Officer | 2025–present | Leads clinical development and medical affairs; transition from prior CMO announced June 2025 |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Vertex Pharmaceuticals | Medical Director; Global Medical Lead (CF pipeline) | 2019–prior to May 2021 | Led U.S. launch of TRIKAFTA for cystic fibrosis (2019) |
| University of Massachusetts Medical School | Assistant Professor of Pediatrics (Pediatric Pulmonology) | Not disclosed | Ran CF clinical and research programs; PI for multiple trials |
| Boston Children’s Hospital | Residency & Fellowship (Pediatrics; Pediatric Pulmonology) | Not disclosed | Advanced clinical training |
Fixed Compensation
Not disclosed in SEC filings or proxy for Evan Bailey as of November 18, 2025. The 2025 proxy named executive officers were John H. Johnson (Executive Chairman), Les Funtleyder (Interim CEO/CFO), Dale Hooks (CCO), and former CEO Shoshana Shendelman; Bailey was not a named executive officer for 2024 and thus detailed compensation was not reported .
Performance Compensation
Not disclosed for Evan Bailey (no reported RSU/PSU/option awards, targets, or payout curves specific to him in filings through the 2025 proxy) .
Equity Ownership & Alignment
- Beneficial ownership for Evan Bailey is not listed in the 2025 proxy’s principal stockholders and directors/executives table (as of April 11, 2025) .
- Company policies: hedging and pledging of company stock are prohibited for directors and employees; executives may use Rule 10b5-1 plans under policy guardrails .
- Clawback policy compliant with Nasdaq/SEC rules requires recovery of incentive compensation after a required accounting restatement .
Employment Terms
Company disclosures indicate executives are subject to a standard Employee Confidential Information, Inventions, Non‑Solicitation and Non‑Competition Agreement (restrictive covenants); however, Bailey’s specific employment agreement terms (severance, change‑of‑control) have not been filed publicly to date . Insider trading policy and governance codes apply to all executives .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Evan Bailey | — | — | — | — | — |
Track Record, Value Creation, and Execution
- Led and presented Phase 3 INSPIRE CMT‑SORD results at PNS 2025 (12–24 month data), and outlined next randomized study design .
- Promoted to CMO to lead clinical development and medical affairs across govorestat programs (Galactosemia, CMT‑SORD, PMM2‑CDG) .
- Company regulatory milestones around his remit: plan to submit NDA for govorestat in SORD after Q1 2025 (announced Dec 2024); FDA meeting expected Q4 2025 to review galactosemia regulatory pathway following CRL and warning letter .
Compensation Structure Analysis
- Transparency gap: Bailey’s individual base, bonus targets, and equity grants are not disclosed; this limits pay‑for‑performance assessment at the executive level (contrast with detailed terms for Johnson/Funtleyder in 8‑K and proxy) .
- Governance mitigating factors: anti‑hedging/pledging and clawback policy strengthen alignment and reduce risk of opportunistic trading or misstatement‑linked payouts .
Vesting Schedules and Insider Selling Pressure
- No Form 4 or award schedule disclosures for Bailey in company filings reviewed; inability to quantify vested vs. unvested equity or potential selling pressure .
- Company‑wide RSU and option activity shows meaningful ongoing grants and amortization, but without named recipient detail (RSUs outstanding 5.52m; options outstanding 7.62m as of Sep 30, 2025) .
Related Party Transactions and Red Flags
- No Bailey‑specific related party transactions disclosed –.
- Company litigation and regulatory context: securities class action settlement and related insurance recoveries; CRL/warning letter in Nov 2024; these factors elevate execution scrutiny on clinical/regulatory deliverables under CMO scope .
Equity Ownership & Alignment (Company Policy Summary)
- Prohibitions: hedging/monetization transactions, holding in margin accounts, or pledging shares .
- Clawback: incentive comp recoupment after restatement .
- 2019 Equity Incentive Plan auto‑increases and broad participant coverage support ongoing equity alignment across personnel .
Investment Implications
- Retention and execution: Promotion to CMO signals confidence in Bailey’s clinical leadership; success hinges on near‑term regulatory outcomes (FDA meeting for galactosemia in Q4 2025 and SORD NDA pathway), which are critical catalysts for value creation .
- Compensation alignment: Lack of disclosed individual grants/targets for Bailey limits direct pay‑for‑performance analysis; corporate guardrails (anti‑hedging/pledging and clawback) partially mitigate alignment risk .
- Trading signals: With no insider transaction disclosures for Bailey found in company documents, there are no direct signals of anticipated selling or accumulation; broader equity issuance and amortization trends indicate continued reliance on stock‑based compensation across APLT .
Note: Absence of Evan Bailey‑specific compensation, ownership, and contract terms in available SEC filings as of Nov 18, 2025 constrains detailed quantitative analysis. For insider transactions, review of Form 4 filings is recommended when available.