Pliant Q2 Loss Narrows, Cash Runway Extended to H2 2028; FORTIFY Trial Enrollment Ahead of Schedule
PLRX is trading near its 52-week low of $1.03 (3.9% above the low).
Summary
Pliant's Q2 net loss narrowed to $22.4M from a year ago, driven by a sharp drop in operating expenses after discontinuing bexotegrast and reducing headcount. The company now expects its cash to last into H2 2028, a significant extension from the prior 12-month runway. Enrollment in the FORTIFY Phase 1b oncology trial for PLN-101095 is progressing ahead of schedule, and updated biomarker data showed a coordinated T-cell reactivation cascade in responders. This follows the Q1 strategic shift to focus on oncology, and the improved cash position reduces near-term dilution risk from the existing $50M ATM program. Interim FORTIFY data is expected in 2027, with additional platform details coming in H2 2026.
At the time of this announcement, PLRX was trading at $1.07 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $63.8M. The 52-week trading range was $1.03 to $1.95. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.