Pliant Therapeutics(PLRX) - 2024 Q4 - Annual Results

Clinical Trials - Pliant Therapeutics discontinued the BEACON-IPF Phase 2b trial following recommendations from the DSMB and an outside expert panel due to an imbalance in adverse events, despite early evidence of efficacy on the FVC endpoint[2] - The Phase 1 trial of PLN-101095 in solid tumors is ongoing, with interim data expected in Q1 2025[3] - PLN-101325, a monoclonal antibody for muscular dystrophies, is Phase 1 ready with clinical trial approval in Australia[4] Financial Performance - The net loss for Q4 2024 was $49.7 million, compared to a net loss of$41.1 million in the prior-year quarter, attributed to higher operating expenses and reduced interest income[10] - Research and development expenses for Q4 2024 were $38.8 million, up from$33.2 million in Q4 2023, primarily due to costs associated with the BEACON-IPF trial[6] - General and administrative expenses increased to $14.5 million in Q4 2024 from$13.9 million in Q4 2023, driven by higher employee-related costs[6] - Total operating expenses for the twelve months ended December 31, 2024, were $228.4 million, compared to$185.7 million for the prior year[12] Financial Position - As of December 31, 2024, the company had cash, cash equivalents, restricted cash, and short-term investments totaling $357.2 million, expected to fund operations for the next 12 months[10] - The total liabilities as of December 31, 2024, were$92.9 million, significantly up from $38.6 million in the prior year[14] Leadership Changes - The company appointed Delphine Imbert, Ph.D., as Chief Technical Officer, bringing 25 years of experience in product development and manufacturing[5]