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Pliant Therapeutics (PLRX) investor relations material

Pliant Therapeutics Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary6 Nov, 2025

Executive summary

  • Discontinued bexotegrast in IPF after unfavorable Phase 2b/3 results; BEACON-IPF close-out expected in Q4 2025.

  • Focus shifted to oncology (PLN-101095) and muscular dystrophy (PLN-101325) programs; Phase 1 oncology trial fully enrolled with data from highest dose cohorts expected by year-end 2025.

  • Completed voluntary prepayment of all outstanding debt in October 2025, eliminating loan obligations.

  • Underwent a 45% workforce reduction in Q2 2025 to align with new strategic priorities, lowering personnel-related costs.

Financial highlights

  • Net loss for Q3 2025 was $26.3M, down from $57.8M in Q3 2024; net loss per share improved to $0.43 from $0.95.

  • Research and development expenses for Q3 2025 decreased to $17.9M from $47.8M year-over-year, reflecting program discontinuation and restructuring.

  • General and administrative expenses fell to $10.3M from $14.3M year-over-year.

  • Cash, cash equivalents, and short-term investments totaled $243.3M as of September 30, 2025.

  • Accumulated deficit reached $835.8M as of September 30, 2025.

Outlook and guidance

  • Existing capital resources expected to fund operations for at least the next 12 months and beyond.

  • Research and development expenses projected to decrease in the near term due to program reprioritization.

  • Data from the highest dose cohorts of the PLN-101095 oncology trial anticipated by end of 2025.

  • BEACON-IPF close-out activities to be completed in Q4 2025, with results to be published.

  • Ongoing evaluation of business opportunities and cost savings from strategic restructuring anticipated.

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Frequently asked questions

Pliant Therapeutics, Inc. (PTI) is a clinical stage biopharmaceutical company developing DNA-based therapeutics that enable patients to reverse fibrosis and related diseases. The company's lead product candidate, PRTX-100, is a proprietary plasmid DNA therapeutic that has completed Phase 2 testing in nonalcoholic steatohepatitis (NASH). PTI owns the rights to exclusive plasmid-based therapies optimized for solid tumors including breast and pancreatic cancers. Pliant Therapeutics, Inc. was incorporated in 2015 and is based in South San Francisco, California.

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