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Pliant Therapeutics Provides Corporate Update and Reports First Quarter 2025 Financial Results
Globenewswireยท 2025-05-08 20:05
Core Insights - Pliant Therapeutics is focused on closing out the BEACON-IPF trial, with topline data expected in the second quarter of 2025, while also making progress in its oncology program with PLN-101095 showing antitumor activity [1][2][7] First Quarter and Recent Developments - The company reported a net loss of $56.2 million for the first quarter of 2025, compared to a net loss of $47.0 million in the same quarter of the previous year, primarily due to increased operating expenses related to BEACON-IPF close-out activities [12] - Research and development expenses rose to $43.4 million from $37.1 million year-over-year, driven by the acceleration of close-out activities for BEACON-IPF [6][12] Oncology Program - Interim Phase 1 data from the PLN-101095 trial in combination with pembrolizumab demonstrated confirmed partial responses in three out of six patients treated at the highest dose, with tumor size reductions of 74%, 48%, and 42% in patients with non-small cell lung cancer, cholangiocarcinoma, and melanoma, respectively [4] - The trial is currently enrolling the fourth of five potential cohorts, evaluating PLN-101095 at a dose of 1000 mg administered three times daily [4] Corporate Highlights - A strategic realignment of workforce and operations was announced, including a 45% reduction in workforce, aimed at extending the cash runway to support clinical trials [5] - The realignment process is expected to be substantially completed by the second quarter of 2025 [5] Financial Position - As of March 31, 2025, the company had cash, cash equivalents, and short-term investments totaling $307.1 million [12] - Total current assets decreased from $362.3 million at the end of 2024 to $311.2 million [16]