Why Pliant Therapeutics (PLRX) Shares Are Plunging Today - Pliant Therapeutics (NASDAQ:PLRX)

Pliant Therapeutics Inc PLRX shares plunged over 20% Monday after it released longer-term safety, preliminary efficacy data from the INTEGRIS-IPF Phase 2a study of bexotegrast (PLN-74809) in patients with idiopathic pulmonary fibrosis (IPF).
IPF is marked by scarring of the lung, which makes breathing difficult.
The 320 mg dose group met its primary and secondary endpoints demonstrating that bexotegrast was well tolerated for up to 40 weeks and displayed a favorable pharmacokinetic profile.
The INTEGRIS-IPF Phase 2a trial was designed to evaluate bexotegrast at once-daily doses of 40 mg, 80 mg, 160 mg or placebo for 12 weeks and 320 mg or placebo for up to 48 weeks in 119 patients with IPF.
Also Read: Novartis Takes Down $80M NASH Pact With Pliant Therapeutics.
At Week 24, bexotegrast-treated patients demonstrated improvements in forced vital capacity (FVC), Quantitative Lung Fibrosis imaging, cough severity, and biomarkers versus placebo.
50% of bexotegrast-treated patients experienced an increase in FVC from baseline versus 0% in the placebo group.
Bexotegrast-treated patients experienced a mean reduction from baseline in FVCpp of 0.8% versus a decline of 2.5% in the placebo-treated group, representing a 68% reduction in decline.
Bexotegrast-treated participants were more than twice as likely to show stabilization or improvement of fibrosis relative to placebo.
The company plans to initiate BEACON-IPF, the company's Phase 2b 52-week trial bexotegrast at 160 mg and 320 mg doses in approximately 270 patients with IPF, in mid-2023.
Price Action: PLRX shares are down 23.7% at $21.53 on the last check Monday.
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Pliant Therapeutics Shares Fall After Long-Term Data Of Bexotegrast In Lung Fibrosis Study