Pliant Therapeutics, Inc. Stock Price, News & Analysis

Pliant Therapeutics (PLRX) announced positive interim data from its Phase 2a INTEGRIS-IPF trial for bexotegrast, showing a favorable safety profile and significant increases in forced vital capacity (FVC) at 12 weeks. The company completed a $287.5 million equity financing, extending its cash runway into 2026. Further data from the 320 mg dose group is expected in Q2 2023, along with initiation of a Phase 1 trial for PLN-101095 in solid tumors. Research and development expenses rose to $25.1 million, while net loss increased to $35.1 million in Q4 2022. As of December 31, 2022, PLRX had $331.2 million in cash and equivalents.

Pliant Therapeutics (Nasdaq: PLRX) announced the appointments of Darren Cline and Thomas McCourt to its Board of Directors, effective March 8, 2023. These appointments are expected to bolster the company’s commercial and operational strategies as it advances its clinical programs, particularly in fibrosis treatment. Cline has over 30 years of experience in the pharmaceutical industry, previously holding key roles at Epygenix Therapeutics and GW Pharmaceuticals. McCourt brings significant expertise from his leadership at Ironwood Pharmaceuticals, where he oversaw the launch of the blockbuster product LINZESS. The company aims to leverage their insights to bring transformative therapies to market.

Pliant Therapeutics, Inc. (Nasdaq: PLRX), a biotechnology firm focused on fibrosis therapies, announces participation in key investor events in March 2023. Leadership, including President Bernard Coulie, will engage in fireside chats at the Cowen 43rd Annual Health Care Conference on March 8 and the Oppenheimer 33rd Annual Healthcare Conference on March 13. An invitation-only meeting with investors will also occur on March 23 as part of the Citi West Coast Biotech Bus Trip. Pliant's lead candidate, bexotegrast, aimed at treating idiopathic pulmonary fibrosis and primary sclerosing cholangitis, has received multiple FDA designations, with Phase 2a trials underway.

Pliant Therapeutics, Inc. (Nasdaq: PLRX), a biotechnology firm focused on fibrosis therapies, has announced participation in key investor events in February 2023. Notably, members of the senior management will engage at the SVB Securities Global Biopharma Virtual Conference on February 14, including a fireside chat featuring CFO Keith Cummings and CMO Éric Lefebvre on February 15 at 3:40 p.m. ET. Additionally, Pliant will present at the Citi Biotech C-Suite Fireside Chat Series on February 22 at 3:00 p.m. ET, with President Bernard Coulie and CMO Lefebvre. Pliant's lead product, bexotegrast (PLN-74809), targets idiopathic pulmonary fibrosis and has received multiple designations from the FDA and EMA.

Pliant Therapeutics (Nasdaq: PLRX) announced FDA clearance for its Investigational New Drug application for PLN-101095, a novel small molecule dual selective inhibitor. This phase 1 clinical study will focus on patients with solid tumors resistant to immune checkpoint inhibitors, set to begin in Q2 2023. PLN-101095 aims to resensitize tumors to PD(L)-1 inhibitors by targeting integrins αvβ8 and αvβ1 in the tumor microenvironment. This study marks the company's third program advancing into clinical trials, highlighting their commitment to addressing cancer treatment gaps. Details on safety and preliminary efficacy will follow as the trial progresses.

Pliant Therapeutics, Inc. (Nasdaq: PLRX) announced the completion of its upsized underwritten public offering, closing on 9,583,334 shares of common stock sold at $30.00 per share. This offering, which included the underwriters’ option to purchase an additional 1,250,000 shares, raised approximately $287.5 million in gross proceeds. The funds will be utilized to support ongoing and future clinical programs, including bexotegrast and PLN-101095, as well as general corporate purposes. J.P. Morgan and Piper Sandler served as lead managers for the offering.

Pliant Therapeutics, Inc. (Nasdaq: PLRX) has appointed Ms. Lily Cheung as its new Chief Human Resources Officer. With over 25 years of experience, including 15 years in commercial-stage companies, Cheung previously held senior HR roles at Synthekine and Rigel Pharmaceuticals. Her expertise is expected to enhance the company's culture and make it an attractive workplace. Pliant is focused on developing therapies for fibrosis, with its lead candidate, bexotegrast (PLN-74809), currently in Phase 2a trials for idiopathic pulmonary fibrosis and primary sclerosing cholangitis. The company has received FDA Fast Track and Orphan Drug Designations for this candidate.

Pliant Therapeutics, Inc. (Nasdaq: PLRX), a biotechnology company focused on fibrosis treatments, has announced an upsized underwritten public offering of 8,333,334 shares at $30.00 per share, aiming for gross proceeds of approximately $250 million. The offering includes a 30-day option for underwriters to purchase an additional 1,250,000 shares. Proceeds will be used for developing ongoing and future clinical programs, funding working capital, operating expenses, and general corporate purposes. The offering is expected to close around January 27, 2023, pending customary conditions. J.P. Morgan and Piper Sandler are leading the offering.

Pliant Therapeutics, a clinical-stage biotechnology company focused on fibrosis treatments, has initiated an underwritten public offering of $175 million in common stock, with a 30-day option for underwriters to purchase an additional $26.25 million. The net proceeds will be utilized for ongoing and future clinical programs, including bexotegrast and PLN-101095, as well as to support working capital and general corporate needs. J.P. Morgan and Piper Sandler are leading the offering, which is subject to market conditions. The offering is detailed under a SEC registration statement, with preliminary prospectus available online.