Pliant Therapeutics jumps on positive data from lung disease drug trial

Pliant Therapeutics

23/01/2023 11:02

** Shares of drug developer Pliant Therapeutics Inc  PLRX.O 
soar ~48% to $33.33 premarket
    ** On Sunday, co said its experimental drug, bexotegrast,
met main goal of a mid-stage trial testing it in patients with
idiopathic pulmonary fibrosis (IPF), based on interim data
    ** Bexotegrast was well-tolerated at dosage level of 320 mg
over 12 weeks of treatment with no drug-related severe or
serious adverse events reported - company
    ** 320 mg cohort achieved a forced vital capacity change, a
key indicator for IPF, of +29.5 mL compared with lower dosage
level groups, which strengthens the dose relationship -
brokerage Piper Sandler
    ** Brokerage also notes that a strong effect of bexotegrast
was seen on some profibrotic biomarkers at 12 weeks vs placebo
    ** IPF causes scar tissue to grow inside lungs and makes it
hard to breathe
    ** PLRX shares up ~22% in the past six months 
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))