Why Pliant Therapeutics Stock Is Skyrocketing This Week

Shares of Pliant Therapeutics (NASDAQ: PLRX) were skyrocketing 61% higher this week as of the market close on Thursday, according to data provided by S&P Global Market Intelligence. This huge gain came after the company announced positive interim results on Sunday from a phase 2a clinical study evaluating bexotegrast (PLN-74809) in treating idiopathic pulmonary fibrosis (IPF). Pliant reported that patients receiving a 320 mg dose of bexotegrast achieved a statistically significant increase in forced vital capacity (FVC) at four, eight, and 12 weeks of treatment. The company also said that the experimental drug's safety profile looked good over the 12-week treatment period. No drug-related severe or serious adverse events were reported in the study.IPF is a chronic lung disease that causes shortness of breath and can interfere with walking and talking. There are currently only two approved therapies for IPF, but neither has been shown to halt the progression of the disease.Continue reading
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