Pliant Therapeutics Provides Corporate Update and Reports Fourth Quarter 2024 Financial Results

Core Viewpoint - Pliant Therapeutics has discontinued the BEACON-IPF Phase 2b trial based on recommendations from an independent data safety monitoring board (DSMB) and an outside expert panel due to an imbalance in adverse events, despite early signs of efficacy in forced vital capacity (FVC) [2][3] Group 1: Clinical Trials and Programs - The BEACON-IPF trial, a 52-week multinational study evaluating bexotegrast in patients with idiopathic pulmonary fibrosis (IPF), has been halted following safety concerns [2] - The Phase 1 trial of PLN-101095, an oral small molecule targeting solid tumors, continues to enroll patients, 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] Group 2: Corporate Developments - Delphine Imbert, Ph.D., has been appointed as Chief Technical Officer, bringing 25 years of experience in product development and manufacturing [5] Group 3: Financial Results - 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 from$13.9 million year-over-year, driven by higher employee-related costs [6] - The net loss for Q4 2024 was $49.7 million, compared to$41.1 million in the same quarter of the previous year, attributed to increased operating expenses and reduced interest income [6] - As of December 31, 2024, the company had cash and short-term investments totaling $357.2 million, expected to fund operations for the next 12 months [6]