Pliant Therapeutics To Debut On Nasdaq On June 3

(RTTNews) - South San Francisco, California-based Pliant Therapeutics is slated to debut on the Nasdaq Global Market, under the symbol 'PLRX', on June 3, 2020.

Founded in 2016, Pliant Therapeutics is a clinical stage biopharmaceutical company developing novel therapies for the treatment of fibrosis.

The company plans to offer 6.00 million shares of its common stock, priced between $14 and $16 per share, in its initial public offering.

The underwriters have an option for 30 days to purchase 900,000 additional shares of common stock.

Underwriters of the IPO:

Citigroup Global Markets Inc., Cowen and Company, LLC, Needham & Company, LLC, Piper Sandler & Co.

Pipeline:

The company's lead product candidate is PLN-74809, proposed for the treatment of idiopathic pulmonary fibrosis or IPF, and primary sclerosing cholangitis or PSC, under phase II development.

Another clinical drug candidate is, PLN-1474 for the treatment of stage F3/F4 liver fibrosis associated with NASH, which is under phase I testing. This compound is being developed in partnership with Novartis.

In addition to clinical programs, the company currently has preclinical integrin-based programs targeting oncology and muscular dystrophies.

Near-term catalysts:

Initiation of Phase 2a trials of PLN-74809 in primary sclerosing cholangitis is expected in the second half of 2020.

Top-line data from phase I study of PLN-1474 is expected by the end of 2020.