Pliant updates $50M at-the-market stock program
Pliant Therapeutics, Inc. updated its at-the-market stock offering arrangements.
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Form Type
8-K
Rhea-AI Filing Summary
Pliant Therapeutics, Inc. updated its at-the-market stock offering arrangements. The company has a Sales Agreement with Leerink Partners LLC that allows it to offer and sell common stock with an aggregate offering price of up to $50.0 million under an at-the-market prospectus. Effective March 27, 2026, it terminated a prior Controlled Equity Offering℠ Sales Agreement with Cantor Fitzgerald & Co., with no termination penalties and no shares having been sold under the 2021 agreement.
8-K Event Classification
Item 8.01 — Other Events
1 item
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Key Figures
ATM capacity: $50.0 million aggregate offering price
1 metrics
ATM capacity
$50.0 million aggregate offering price
Maximum common stock that may be sold under at-the-market prospectus
Key Terms
at-the-market offering program, Sales Agreement, Controlled Equity Offering℠ Sales Agreement, emerging growth company
4 terms
at-the-market offering program financial
"with respect to an at-the-market offering program to sell shares of the Company’s common stock"
An at-the-market offering program lets a company sell newly issued shares directly into the open market at current trading prices through a broker, rather than issuing a large block of stock all at once. It matters to investors because it provides the company a flexible way to raise cash over time, which can dilute existing shares gradually and affect earnings per share and stock price depending on how much and when shares are sold—think of it as a faucet the company can open or close to add supply to the market.
Sales Agreement financial
"entered into a Sales Agreement, or the 2026 Sales Agreement, with Leerink Partners LLC"
A sales agreement is a written contract that sets out the terms for selling goods, services, or assets, specifying price, delivery, payment schedule and responsibilities of each side. For investors it matters because it creates a predictable stream of revenue or cash obligations, clarifies timing and risk, and can change a company’s value or forecasts much like a signed order turns a customer’s verbal intent into a firm commitment.
Controlled Equity Offering℠ Sales Agreement financial
"terminated the Controlled Equity Offering℠ Sales Agreement dated July 2, 2021, or the 2021 Sales Agreement"
emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Pliant Therapeutics (PLRX) announce in this 8-K filing?
Pliant Therapeutics reported changes to its at-the-market stock offering arrangements. It detailed a Sales Agreement with Leerink Partners LLC and confirmed termination of an earlier Controlled Equity Offering℠ Sales Agreement with Cantor Fitzgerald & Co., under which no shares had been sold.
How large is Pliant Therapeutics’ at-the-market offering program?
Pliant Therapeutics’ at-the-market offering program allows sales of common stock up to an aggregate offering price of $50.0 million. These shares may be issued from time to time through Leerink Partners LLC acting as sales agent under an at-the-market prospectus.
Which sales agreement did Pliant Therapeutics (PLRX) terminate?
Pliant Therapeutics terminated its Controlled Equity Offering℠ Sales Agreement dated July 2, 2021 with Cantor Fitzgerald & Co. The filing states the company incurred no termination penalties and had not sold any common shares under that 2021 Sales Agreement before ending it.
Does Pliant Therapeutics owe any penalties for ending the 2021 Sales Agreement?
No, Pliant Therapeutics owes no penalties for ending the 2021 Sales Agreement. The filing clearly notes the company is not subject to any termination penalties and confirms no common stock was sold under that prior Controlled Equity Offering℠ arrangement.
Will Pliant Therapeutics (PLRX) sell any more stock under the 2021 Cantor agreement?
Pliant Therapeutics will not sell any stock under the 2021 Cantor agreement. The company states that, as a result of terminating the 2021 Sales Agreement, it will not offer or sell any shares of its common stock under that prior Controlled Equity Offering℠ program.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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