Deep Track Entities and David Kroin Report 3,947,807 Shares of PLRX

Rhea-AI Filing Summary

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.

Positive

• Disclosure of a material minority stake: 3,947,807 shares representing 6.43% of the class provides clear ownership transparency
• Shared voting and dispositive power disclosed: Filing specifies shared control rather than undisclosed arrangements
• Certification against seeking control: Item 10 states the shares were not acquired to change or influence control

Negative

• None.

Insights

Financial Analyst

TL;DR: A coordinated disclosure shows a 6.43% minority position in Pliant Therapeutics, providing transparency on a material but non-controlling stake.

The Schedule 13G/A reports 3,947,807 shares beneficially owned with shared voting and dispositive power and zero sole power. For investors, a stake of this size can attract attention but does not indicate a controlling position; the filing explicitly states the holdings were not acquired to effect control. The ownership percentage was calculated from 61,386,278 shares outstanding as of May 1, 2025, per the issuer’s May 8, 2025 filing.

Corporate Governance Expert

TL;DR: Joint filing by related entities and an individual shows coordinated disclosure and a declaration against seeking control.

The filing is joint under Rule 13d-1(k) and identifies Deep Track Capital, Deep Track Biotechnology Master Fund and David Kroin as reporting persons with shared voting and dispositive authority over 3,947,807 shares (6.43%). Item 10 certification states the shares were not acquired to change or influence control. The joint-filing statement allocates responsibility for future amendments among the signatories.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Pliant Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

729139105

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 729139105

1

Names of Reporting Persons

Deep Track Capital, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,947,807.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,947,807.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,947,807.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.43 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No. 729139105

1

Names of Reporting Persons

Deep Track Biotechnology Master Fund, Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,947,807.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,947,807.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,947,807.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.43 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 729139105

1

Names of Reporting Persons

David Kroin

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,947,807.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,947,807.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,947,807.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.43 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Pliant Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 331 Oyster Point Blvd., South San Francisco, CA 94080
Item 2.
(a)	Name of person filing: (i) Deep Track Capital, LP (ii) Deep Track Biotechnology Master Fund, Ltd. (iii) David Kroin
(b)	Address or principal business office or, if none, residence: (i) 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830 (ii) c/o Walkers Corporate Limited, 190 Elgin Ave, George Town, KY1-9001, Cayman Islands (iii) c/o Deep Track Capital, LP, 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830
(c)	Citizenship: (i) Delaware (ii) Cayman Islands (iii) United States
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 729139105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3,947,807
(b)	Percent of class: 6.43%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 3,947,807
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 3,947,807
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Deep Track Capital, LP is the relevant entity for which David Kroin may be considered a control person.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Deep Track Capital, LP

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Managing Member of the General Partner of the Investment Adviser
Date:	08/14/2025

Deep Track Biotechnology Master Fund, Ltd.

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Director
Date:	08/14/2025

David Kroin

Signature:	/s/ David Kroin
Name/Title:	David Kroin
Date:	08/14/2025

Exhibit Information

Item 4: Information with respect to the Reporting Persons' ownership of the Ordinary Shares as of August 14, 2025, is incorporated by reference to items (5) - (9) and (11) of the cover page of the respective Reporting Person. The amount beneficially owned by each Reporting Person is determined based on 61,386,278 common stock outstanding as of May 1, 2025, according to the issuer's Form 10-Q filed with the SEC on May 8, 2025. JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Dated: August 14, 2025 Deep Track Capital, LP By: /s/ David Kroin David Kroin, Managing Member of the General Partner of the Investment Adviser Deep Track Biotechnology Master Fund, Ltd. By: /s/ David Kroin David Kroin, Director David Kroin By: /s/ David Kroin David Kroin

FAQ

Who filed the Schedule 13G/A for Pliant Therapeutics (PLRX)?

The filing was made by Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin.

How many Pliant Therapeutics (PLRX) shares are reported and what percent of the company do they represent?

The reporting persons beneficially own 3,947,807 shares, equal to 6.43% of the outstanding common stock.

What voting and dispositive power do the reporting persons have over PLRX shares?

The filing reports 0 sole voting power and 3,947,807 shared voting power; similarly 0 sole dispositive power and 3,947,807 shared dispositive power.

What outstanding share count was used to calculate the 6.43% ownership?

The percentage is based on 61,386,278 shares outstanding as of May 1, 2025, per the issuer’s May 8, 2025 SEC filing.

Does the filing say the shares were acquired to change control of Pliant Therapeutics?

No. Item 10 includes a certification that the securities were not acquired to change or influence control of the issuer.

When was the Schedule 13G/A signed?

Signatures on the filing are dated August 14, 2025.