Pliant Therapeutics Prices IPO, Lands $144M to Test Fibrosis Drugs
Summary
Pliant’s shares are expected to begin trading on the Nasdaq Wednesday under the stock symbol “PLRX.” Pliant is developing drugs for fibrosis, a thickening and hardening of connective tissue that leads to scarring in organs such as the lungs, liver, and kidneys. This pathway is typically activated in response to injury, promoting collagen production and tissue healing, the company says in its IPO filing. In addition to addressing the biological driver of fibrosis, the company contends its drugs are more targeted than other therapies, which means that they could produce fewer side effects. Pliant is currently enrolling two Phase 2 studies evaluating PLN-74809 in IPF, one to assess how well the drug hits its target in the lungs and the second to test up to three doses and a placebo to produce more data about the drug’s safety, tolerability, and how it moves throughout the body. The lead Pliant drug is also being evaluated for potential use treating primary sclerosing cholangitis (PSC), a form of fibrosis affecting the bile ducts.
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