Overview

* Pliant discontinues bexotegrast development in IPF due to adverse events

* Q2 net loss narrows to $43.3 mln, aided by workforce restructuring

* Research and development expenses fall 29% due to BEACON-IPF discontinuation

Outlook

* Pliant Therapeutics ( PLRX ) focuses on oncology after IPF program discontinuation

* Company restructuring aims to extend cash runway

Result Drivers

* BEACON-IPF DISCONTINUATION - Discontinuation of bexotegrast in IPF led to reduced R&D expenses

* WORKFORCE RESTRUCTURING - Strategic restructuring completed to extend cash runway, reducing administrative costs

* ONCOLOGY FOCUS - Ongoing Phase 1 trial of PLN-101095 in solid tumors, with data expected by year-end

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net -$43.30

Income mln

Q2 -$45.59

Operatin mln

g

Expenses

Q2 -$45.59

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 11 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the pharmaceuticals peer group is "buy."

* Wall Street's median 12-month price target for Pliant Therapeutics Inc ( PLRX ) is $3.00, about 43.7% above its August 6 closing price of $1.69

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)