ADAR1 Capital discloses 8.9% stake in Pliant Therapeutics

ADAR1 Capital Management, LLC and its sole manager, Daniel Schneeberger, report beneficial ownership of Pliant Therapeutics, Inc. common stock.

Rhea-AI Filing Summary

ADAR1 Capital Management, LLC and its sole manager, Daniel Schneeberger, report beneficial ownership of Pliant Therapeutics, Inc. common stock. Private investment funds managed by ADAR1 Capital Management hold 5,509,724 shares of common stock, representing 8.9% of the class based on 61,920,154 shares outstanding as of June 30, 2026.

Both ADAR1 Capital Management and Mr. Schneeberger report shared voting and dispositive power over 5,509,724 shares and no sole voting or dispositive power. Mr. Schneeberger files as a control person with respect to shares beneficially owned by ADAR1 Capital Management, which is identified as an investment adviser. The filing includes a joint filing agreement between the reporting persons.

Key Figures

Shares beneficially owned: 5,509,724 shares Ownership percentage: 8.9% Shares outstanding: 61,920,154 shares +3 more

6 metrics

Shares beneficially owned 5,509,724 shares Common stock of Pliant Therapeutics beneficially owned by funds managed by ADAR1 Capital Management

Ownership percentage 8.9% Percentage of Pliant Therapeutics common stock class beneficially owned by the reporting persons

Shares outstanding 61,920,154 shares Pliant Therapeutics common shares outstanding as of June 30, 2026 used to calculate ownership

Shared voting power 5,509,724 shares Number of PLRX shares over which the reporting persons have shared voting power

Shared dispositive power 5,509,724 shares Number of PLRX shares over which the reporting persons have shared dispositive power

Filing date 08/14/2026 Date signed by Daniel Schneeberger for ADAR1 Capital Management and in his individual capacity

Key Terms

beneficially owned, shared voting power, shared dispositive power, control person, +1 more

5 terms

beneficially owned financial

"The amounts reported in boxes 6, 8, and 9 represent 5,509,724 shares ... may be deemed to be indirectly beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"Shared Voting Power 5,509,724.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 5,509,724.00"

control person regulatory

"Mr. Schneeberger is filing this ... as a control person in respect of shares"

A control person is an individual or entity that can significantly influence a company’s decisions and direction through ownership, voting power, or contractual rights—think of them as the captain who can steer the ship. Investors care because a control person’s choices affect corporate strategy, board appointments, and transactions that can raise or lower a stock’s value, and they often carry additional legal responsibilities and disclosure requirements to protect other shareholders.

investment adviser financial

"ADAR1 Capital Management, an investment adviser as described in SS 240.13d-1(b)(1)(ii)(E)"

An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much of Pliant Therapeutics, Inc. (PLRX) does ADAR1 Capital Management own?

ADAR1 Capital Management-linked funds beneficially own 5,509,724 shares of Pliant Therapeutics common stock, representing 8.9% of the outstanding shares based on 61,920,154 shares outstanding as of June 30, 2026.

Who are the reporting persons in this Pliant Therapeutics (PLRX) Schedule 13G?

The reporting persons are ADAR1 Capital Management, LLC, a Texas limited liability company, and Daniel Schneeberger, a citizen of Switzerland and sole manager of ADAR1 Capital Management, who may be deemed to indirectly beneficially own the same shares.

What voting power does ADAR1 Capital Management report over PLRX shares?

ADAR1 Capital Management reports 0 shares with sole voting power and 5,509,724 shares with shared voting power. The same 5,509,724 shares are also reported as subject to shared dispositive power, with no sole dispositive power.

How was the 8.9% ownership of PLRX by ADAR1 Capital Management calculated?

The 8.9% ownership is based on 5,509,724 shares beneficially owned relative to 61,920,154 shares of Pliant Therapeutics common stock outstanding as of June 30, 2026, as reported in the company’s Form 10-Q filed on August 11, 2026.

In what capacity is Daniel Schneeberger reporting ownership in PLRX?

Daniel Schneeberger is reporting as a control person regarding shares beneficially owned by ADAR1 Capital Management. As the sole manager of ADAR1 Capital Management, he may be deemed to indirectly beneficially own the 5,509,724 shares held by its managed funds.

Where are the reporting persons for the PLRX Schedule 13G based?

The principal business office of both reporting persons is 3503 Wild Cherry Drive, Building 9, Austin, Texas 78738. Pliant Therapeutics’ principal executive offices are at 331 Oyster Point Blvd., South San Francisco, CA 94080.

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Available on EDGAR 08/14/2026 - 09:31 PM Accepted by SEC EDGAR 08/14/2026 - 09:31 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Pliant Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

729139105

(CUSIP Number)

06/30/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 729139105

1

Names of Reporting Persons

ADAR1 Capital Management, LLC

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

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,509,724.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,509,724.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,509,724.00

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)

8.9 %

12

Type of Reporting Person (See Instructions)

IA, OO

Comment for Type of Reporting Person: The amounts reported in boxes 6, 8, and 9 represent 5,509,724 shares of common stock, par value $0.0001 per share ("Common Stock"), of Pliant Therapeutics, Inc. (the "Issuer") owned directly by private investment funds managed by ADAR1 Capital Management, LLC. Such securities may be deemed to be indirectly beneficially owned by ADAR1 Capital Management, LLC. The percentage in box 11 is based on 61,920,154 shares of Common Stock outstanding as of June 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026, filed with the Securities and Exchange Commission on August 11, 2026.

SCHEDULE 13G

CUSIP Number(s): 729139105

1

Names of Reporting Persons

Daniel Schneeberger

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

SWITZERLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,509,724.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,509,724.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,509,724.00

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)

8.9 %

12

Type of Reporting Person (See Instructions)

HC, IN

Comment for Type of Reporting Person: The amounts reported in boxes 6, 8, and 9 represent 5,509,724 shares of common stock, par value $0.0001 per share ("Common Stock"), of Pliant Therapeutics, Inc. (the "Issuer") owned directly by private investment funds managed by ADAR1 Capital Management, LLC. Such securities may be deemed to be indirectly beneficially owned by Daniel Schneeberger, the sole manager of ADAR1 Capital Management, LLC. The percentage in box 11 is based on 61,920,154 shares of Common Stock outstanding as of June 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026, filed with the Securities and Exchange Commission on August 11, 2026.

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: This Schedule is being filed on behalf of each of the following persons (each, a "Reporting Person" and collectively, the "Reporting Persons"): (i) ADAR1 Capital Management, LLC ("ADAR1 Capital Management"); and (ii) Daniel Schneeberger ("Mr. Schneeberger").
(b)	Address or principal business office or, if none, residence: The address of the principal business office of each of the Reporting Persons is 3503 Wild Cherry Drive, Building 9, Austin, Texas 78738.
(c)	Citizenship: (i) ADAR1 Capital Management is a Texas limited liability company; and (ii) Mr. Schneeberger is a citizen of Switzerland.
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP Number(s): 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: The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
(b)	Percent of class: The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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. Mr. Schneeberger is filing this Schedule 13G as a control person in respect of shares beneficially owned by ADAR1 Capital Management, an investment adviser as described in SS 240.13d-1(b)(1)(ii)(E).
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 acquired and are held in the ordinary course of business and 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.

ADAR1 Capital Management, LLC

Signature:	/s/ Daniel Schneeberger
Name/Title:	Daniel Schneeberger, Manager
Date:	08/14/2026

Daniel Schneeberger

Signature:	/s/ Daniel Schneeberger
Name/Title:	Daniel Schneeberger, in his individual capacity
Date:	08/14/2026

Exhibit Information

Exhibit A: Joint Filing Agreement