Pliant Therapeutics slumps after company halts enrollment in mid-stage trial of lung disease drug

Pliant Therapeutics

10/02/2025 18:54

(Updates)
    ** Shares of drug developer Pliant Therapeutics  PLRX.O 
fall about 59% to a record low of $3.21 since its Nasdaq debut
on June 3, 2020
    ** Late on Friday, the company said it had voluntarily
paused enrollment and dosing in mid-stage trial testing of its
experimental lead drug, bexotegrast, to treat a type of lung
disease called idiopathic pulmonary fibrosis
    ** Idiopathic pulmonary fibrosis is a rare lung disease that
causes scarring and stiffening of the organ's tissue
        ** At least three brokerages downgrade stock
    ** "This could turn out to be nothing, or it could spell the
end for bexotegrast" - brokerage H.C. Wainwright
    ** Brokerage RBC Capital Markets cuts rating to "sector
perform" from "outperform" and slashes PT to $4 from $45
    ** Best-case scenario for the company would be resuming
study, but this may require some modification of the trial,
which may lead to disruption and add risks - RBC
    ** Stock was down 26% in 2024
    

 (Reporting by Padmanabhan Ananthan)
 ((Padmanabhan.Ananthan@thomsonreuters.com;))