Pliant Therapeutics, Inc. SEC Filings

Pliant Therapeutics (PLRX) filed its Q3 2025 10-Q, reporting a net loss of $26.3 million for the quarter and $125.8 million year‑to‑date. Operating expenses fell sharply as the company wound down its discontinued IPF program.

Research and development expense decreased to $17.9 million (from $47.8 million a year ago), and general and administrative fell to $10.3 million (from $14.3 million). Cash, cash equivalents and short‑term investments were $243.3 million as of September 30, 2025. Net cash used in operating activities was $110.5 million for the nine months ended September 30, 2025.

The company discontinued bexotegrast in IPF after safety‑related findings and completed a restructuring that reduced its workforce by approximately 45%. In oncology, the Phase 1 trial of PLN‑101095 completed enrollment; data, including higher dose cohorts, are expected by the end of 2025. After quarter‑end, Pliant voluntarily prepaid its Oxford loan for $32.4 million, terminating the facility. Shares outstanding were 61,449,385 as of November 1, 2025.

Pliant Therapeutics filed an 8‑K announcing it furnished a press release with financial results for the third quarter ended September 30, 2025. The press release is attached as Exhibit 99.1. The company states the information in this report, including the exhibit, is furnished under Item 2.02 and is not deemed “filed” under Section 18 of the Exchange Act. The report was signed by Keith Cummings, M.D., MBA, Chief Financial Officer.

Pliant Therapeutics reported an executive change: Chief Business Officer Hans Hull resigned effective October 20, 2025. The company stated the resignation was not due to any disagreement related to operations, policies, or practices. The report was signed by Keith Cummings, M.D., MBA, in his capacity as Chief Financial Officer.

Pliant Therapeutics, Inc. (PLRX) fully repaid its debt facility, making a voluntary payoff of $32.4 million on October 14, 2025 to settle all outstanding principal, accrued interest, fees and expenses under its Amended and Restated Loan and Security Agreement with Oxford Finance. With receipt of the payoff, all obligations were discharged and the loan documents were terminated.

The agreement allowed up to $150 million in term loans; the company had borrowed $30 million. The loans bore a floating rate tied to 1‑month SOFR with a 3.5% add‑on plus 5.25%, subject to a floor of 8.75%. Scheduled amortization would have begun on July 1, 2028, but the company chose early repayment, eliminating future interest and covenant requirements tied to this facility.

Point72 Asset Management and affiliates report beneficial ownership of 4,085,017 shares of Pliant Therapeutics, Inc. (PLRX), representing 6.7% of the outstanding common stock as of the close of business on September 3, 2025. The filing is a Schedule 13G showing that Point72 Asset Management, Point72 Capital Advisors, Inc., and Steven A. Cohen share voting and dispositive power over these shares and that the shares are held by an investment fund managed by Point72 Asset Management (Point72 Associates).

The statement clarifies that none of the reporting persons own shares directly and that Point72 Associates has the right to receive dividends or sale proceeds for more than 5% of the class. A Joint Filing Agreement (Exhibit 99.1) is referenced.

Deep Track Capital, Deep Track Biotechnology Master Fund and David Kroin together report owning 3,947,807 shares of Pliant Therapeutics common stock, equal to 6.43% of the company’s outstanding shares. The filing is a Schedule 13G/A (Amendment No. 2) disclosing shared voting and dispositive power over those shares, with no sole voting or dispositive power reported.

The ownership amount is calculated using 61,386,278 shares outstanding as of May 1, 2025, per the issuer’s May 8, 2025 SEC filing. The signatories certify the shares were not acquired to change or influence control of the issuer. Signatures are dated August 14, 2025.

Morgan Stanley has filed a Schedule 13G revealing ownership of 3,737,335 Pliant Therapeutics (PLRX) common shares as of 30 Jun 2025. The stake equals 6.1 % of outstanding stock, obligating disclosure under the 5 % threshold. All voting and dispositive authority is reported as shared; the bank holds zero sole voting or disposal power, implying the position is spread across affiliated units.

The form was submitted under Rule 13d-1(b), indicating a passive investment rather than an activist intent. Morgan Stanley is classified as a “HC, CO” (parent holding company/control person). The firm certifies the shares were acquired in the ordinary course of business and not to influence control of the issuer. No other group members, transactions, or financial metrics are disclosed.

This filing adds a notable institutional holder to PLRX’s register, potentially boosting liquidity and visibility but contains no information on company fundamentals or strategy changes.