Why Are Pliant Therapeutics Shares Rallying Today?

Pliant Therapeutics Inc's PLRX Phase 2a trial of PLN-74809 in patients with idiopathic pulmonary fibrosis (IPF) met its primary and secondary endpoints.
The data demonstrated that PLN-74809 was well tolerated over a 12-week treatment period and displayed a favorable pharmacokinetic profile.
A pooled analysis of PLN-74809 treated patients showed an 80% reduction in forced vital capacity (FVC) decline at 12 weeks versus placebo.
Related: Read Why Pliant Therapeutics Shares Are Soaring Today?
The 40 mg and 160 mg dose groups demonstrated 38% and 66% reductions in FVC decline relative to placebo, respectively.
In the 80 mg treatment group, a +24.6 mL increase in FVC was observed relative to baseline.
PLN-74809 was well tolerated at all three doses tested and exhibited dose-proportional increases in plasma concentrations, consistent with prior studies.
Pliant has recently completed enrollment in the 320 mg cohort of the INTEGRIS-IPF Phase 2a trial. The 12-week interim data from the 320 mg cohort is anticipated in early 2023.
Price Action: PLRX shares are up 59.46% at $14.16 during the premarket session on the last check Monday.