Core Insights - Pliant Therapeutics has largely completed its workforce and operational realignment while focusing on closing out the BEACON-IPF activities and maintaining core capabilities for future developments [2][5] - The company is on track to deliver additional data from its Phase 1 oncology trial by the end of 2025 [1][4] Second Quarter and Recent Developments - Development of bexotegrast for idiopathic pulmonary fibrosis (IPF) has been discontinued due to an unfavorable risk-benefit profile despite early signs of efficacy [3] - The Phase 1 trial of PLN-101095, targeting solid tumors, continues to enroll patients, with initial data expected by the end of 2025 [4] Financial Results - Research and development expenses decreased to $32.2 million from $45.6 million year-over-year, primarily due to the discontinuation of BEACON-IPF [8] - General and administrative expenses also decreased to $13.4 million from $15.0 million, attributed to personnel-related costs from the workforce restructuring [8] - The net loss for the second quarter was $43.3 million, down from $55.9 million in the prior year [8][13] - As of June 30, 2025, the company had cash, cash equivalents, and short-term investments totaling $264.4 million [8]