Pliant Therapeutics, Inc. reported a net loss of $43.3 million for the second quarter of 2025, a decrease from the $55.9 million loss recorded in the same period of 2024. For the first half of 2025, the company’s net loss was $99.5 million, slightly down from $102.8 million in the prior year. The reduction in losses is attributed to a significant decrease in research and development expenses, which fell to $32.2 million in Q2 2025 from $45.6 million in Q2 2024, primarily due to the discontinuation of the BEACON-IPF Phase 2b trial and a reduction in workforce that impacted approximately 45% of employees.
As of June 30, 2025, Pliant had cash, cash equivalents, and short-term investments totaling $264.4 million, a decrease from $396.9 million at the end of 2024. The company’s total assets were reported at $299.8 million, while total liabilities stood at $79.7 million. The accumulated deficit increased to $809.5 million, reflecting the ongoing investment in research and development activities. The company’s employee headcount was reduced as part of a strategic restructuring aimed at extending its cash runway following the discontinuation of the bexotegrast program in idiopathic pulmonary fibrosis (IPF).
Pliant has made significant operational changes, including the discontinuation of the bexotegrast program due to an unfavorable risk-benefit profile identified in clinical trials. The company is currently focusing on its oncology program, specifically PLN-101095, which is in a Phase 1 trial for solid tumors resistant to immune checkpoint inhibitors. The company is also developing PLN-101325 for muscular dystrophies, which has received clinical trial approval in Australia.
Looking ahead, Pliant anticipates continued net losses as it invests in research and development to advance its product candidates through clinical trials and seeks regulatory approvals. The company has indicated that it will require substantial additional capital to fund its operations, and it may explore various financing options, including public or private equity offerings and collaborations. The management remains cautious about the future, emphasizing the need for ongoing funding to support its development programs and operational needs.
About PLIANT THERAPEUTICS, INC.
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