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Jun 30, 2025
Pliant Therapeutics Q2 2025 Earnings Report
Pliant Therapeutics reported a Q2 2025 net loss of $43.3M with lower R&D and G&A expenses following strategic restructuring.
Key Takeaways
In Q2 2025, Pliant Therapeutics recorded a net loss of $43.3M, or $0.71 per share, reflecting reduced R&D and G&A expenses due to the discontinuation of BEACON-IPF and workforce realignment. Cash, cash equivalents, and short-term investments totaled $264.4M at quarter end.
Discontinued development of bexotegrast in idiopathic pulmonary fibrosis due to unfavorable risk-benefit profile.
Ongoing Phase 1 trial of PLN-101095 in solid tumors on track to deliver data by year-end 2025.
R&D expenses decreased to $32.2M from $45.6M in Q2 2024, driven by BEACON-IPF discontinuation.
Cash, cash equivalents, and short-term investments totaled $264.4M as of June 30, 2025.
Forward Guidance
Pliant aims to advance oncology programs and manage resources effectively after discontinuing BEACON-IPF, with cash runway extended via restructuring.
Positive Outlook
- Completion of strategic restructuring to extend cash runway.
- Retention of core late-stage clinical and regulatory capabilities.
- Oncology program progressing toward key data readout by year-end 2025.
- Regulatory clearance for Phase 1 study of PLN-101325 in muscular dystrophies.
- Focus on integrin-based therapeutic pipeline and preclinical research innovations.
Challenges Ahead
- Loss of a lead program with bexotegrast discontinuation.
- Exposure to macroeconomic, geopolitical, and marketplace risks.
- Dependence on single-source third parties in foreign jurisdictions for development operations.
- Need for additional financing to support long-term plans.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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