Pliant Therapeutics (PLRX) Q3 2026 earnings summary

Executive summary

• PLN-101095 FORTIFY Phase 1b enrollment is ahead of schedule; interim data are expected in 2027.

• Integrin-mediated siRNA delivery showed >75% target-gene knockdown at eight weeks in non-human primates, with selective delivery to targeted extrahepatic tissues.

• Q3 net loss narrowed to $24.4M from $26.3M YoY; 9M net loss fell to $66.8M from $125.8M, mainly reflecting lower spending after bexotegrast discontinuation and restructuring.

Financial highlights

• Q3 2026 operating expenses were $25.7M vs. $28.3M YoY; R&D was $17.9M vs. $17.9M and G&A was $7.8M vs. $10.3M.

• 9M 2026 operating expenses were $71.4M vs. $132.8M YoY; R&D was $48.2M vs. $93.6M and G&A was $23.1M vs. $39.2M.

• Q3 net loss per share was $0.39 vs. $0.43 YoY; 9M loss per share was $1.08 vs. $2.05.

• Q3 interest and other income was $1.4M vs. $2.8M YoY; interest expense was zero vs. $0.8M in Q3 2025.

Outlook and guidance

• Cash, cash equivalents and short-term investments of $142.6M at September 30, 2026, were expected to fund operations to mid-2028.

• R&D expense is expected to remain relatively consistent near term, increasing with PLN-101095 Phase 1b progress; G&A expense is expected to remain relatively consistent.

• FORTIFY is enrolling up to 102 patients across NSCLC, clear cell renal cell carcinoma and high-TMB cohorts; interim data are expected in 2027.

• The auction and disposal of held-for-sale assets are expected to conclude by December 31, 2026.