Core Insights - Pliant Therapeutics is advancing its oncology program with data from the Phase 1 trial of PLN-101095 expected by the end of 2025, which has shown a 50% objective response rate in one of the dose cohorts [2][3] - The company is winding down activities related to the BEACON-IPF trial, with close-out activities expected to be completed in the fourth quarter of 2025 [3] - Financial results for the third quarter of 2025 show a significant reduction in net loss to $26.3 million from $57.8 million in the prior-year quarter, primarily due to the discontinuation of BEACON-IPF and reduced personnel costs [6][10] Oncology Program - The Phase 1 open-label trial of PLN-101095 has completed enrollment, targeting solid tumors resistant to immune checkpoint inhibitors [2] - Interim data from the trial indicated that PLN-101095 was well tolerated, with a 50% objective response rate in one of the ascending dose cohorts [2] - Full data from the trial, including results from the two highest dose cohorts, is anticipated by the end of 2025 [2] BEACON-IPF Trial - Close-out activities for the BEACON-IPF Phase 2b/3 clinical trial are expected to be finalized in the fourth quarter of 2025 [3] - Full results from the BEACON-IPF trial will be submitted for future publication [3] Financial Performance - Research and development expenses decreased to $17.9 million from $47.8 million year-over-year, attributed to the discontinuation of BEACON-IPF [6][10] - General and administrative expenses also fell to $10.3 million from $14.3 million, mainly due to lower personnel-related costs from workforce restructuring [6][10] - As of September 30, 2025, the company reported cash, cash equivalents, and short-term investments totaling $243.3 million [6] Corporate Developments - In October 2025, the company completed a voluntary prepayment of all outstanding principal and interest under a loan agreement with Oxford Finance LLC [4] - Pliant has received regulatory clearance for a Phase 1 study of PLN-101325, a monoclonal antibody targeting muscular dystrophies [7]

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]