Pliant Therapeutics (PLRX) investor relations material

Executive summary

• Discontinued bexotegrast development in IPF after unfavorable risk-benefit results from the BEACON-IPF Phase 2b/3 trial; restructuring and workforce reduction completed to extend cash runway.

• Ongoing Phase 1 trial for PLN-101095 in solid tumors, with initial data from higher dose cohorts expected by end of 2025.

• Workforce and operational realignment largely complete, with cost-saving measures implemented.

• Net loss for Q2 2025 was $43.3 million, down from $55.9 million in Q2 2024; six-month net loss was $99.5 million, down from $102.8 million year-over-year.

• Cash, cash equivalents, and short-term investments totaled $264.4 million as of June 30, 2025.

Financial highlights

• Research and development expenses for Q2 2025 decreased by $13.4 million year-over-year, mainly due to BEACON-IPF discontinuation and workforce reduction.

• General and administrative expenses for Q2 2025 decreased by $1.6 million year-over-year, reflecting lower employee-related costs and restructuring.

• Net loss per share for Q2 2025 was $0.71, compared to $0.92 in Q2 2024.

• Total assets were $299.8 million and total liabilities $79.7 million as of June 30, 2025.

• Net cash used in operating activities for the first half of 2025 was $89.5 million, up $13.9 million from the prior year, mainly due to BEACON-IPF close-out costs.

Outlook and guidance

• Existing capital resources expected to fund anticipated operating expenses and capital expenditures for at least the next 12 months and beyond.

• Initial data from the two highest dose cohorts of the PLN-101095 Phase 1 trial expected by end of 2025.

• Research and development expenses expected to decrease in the near term due to reprioritization of earlier-stage programs.

• General and administrative expenses anticipated to remain relatively consistent after near-term decrease from restructuring.

• Strategic restructuring and cost-saving measures anticipated to extend cash runway.