Pliant Therapeutics slumps as it halts enrollment in lung disease mid-stage trial

Pliant Therapeutics

10/02/2025 11:59

** Drug developer Pliant Therapeutics' shares  PLRX.O  fall
55.9% to $3.43 premarket
    ** Late Friday, co said it voluntarily paused enrollment and
dosing in mid-stage trial testing its experimental lead drug,
bexotegrast, to treat a type of lung disease called idiopathic
pulmonary fibrosis
    ** Idiopathic pulmonary fibrosis is a chronic lung disease
that causes scarring and stiffening of the organ's tissue
        ** At least 3 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 also cuts to "sector
perform" from "outperform", and slashes PT to $4 from $45
    ** Best-case scenario for co 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;))