PLIANT THERAPEUTICS, INC.
PLRX · Pharmaceutical Preparations · 61.9M shares · +147%/yr ↑ dilution · EDGAR filings ↗
Reference price $1.28 · est. market cap ~$79M — last insider sale, 2026-01-20 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C58Cash-clean clinical-stage oncology/integrin developer whose lead asset is only Phase 1 and whose prior lead (bexotegrast) has no controlled efficacy win.
Strengths
- Pristine balance sheet: current ratio 12, zero debt, $191M cash (66th pct)
- Lead PLN-101095 showed early anti-tumor activity (1 CR, 3 PR) with pembrolizumab in ICI-refractory tumors
Risks
- Returns negative (ROA -0.66, ROE -0.82); FCF -$129M (17th pct), runway ~5.9 quarters
- All bexotegrast Phase 2s were safety-only/'unclear' with no proven efficacy; lead program back at Phase 1
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Cash burnNegative free cash flow (-128.7M)
- Chronic dilutionShare count +147%/yr over 4y (dilution, book value/share -98%)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Notable holderHeld by 5 notable fund(s): CITADEL ADVISORS LLC, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 4 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-82.4%
Return on assets
-66.3%
ROIC
-68.2%
Debt / equity
0.0×
Current ratio
12.0×
Free cash flow
-$129M
Tangible book value
$181M
Cash & investments
$191M
Cash runway
6q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-01-20 | Kuo Minnie | Sell | 6.9K | $1.28 |
| 2026-01-20 | Cheung Lily | Sell | 7.5K | $1.28 |
| 2026-01-20 | Cummings Keith Lamont | Sell | 24K | $1.28 |
| 2026-01-20 | Coulie Bernard | Sell | 89K | $1.28 |
| 2025-01-23 | Lefebvre Eric | Grant | 46K | — |
| 2025-01-23 | Coulie Bernard | Grant | 162K | — |
| 2025-01-23 | Cummings Keith Lamont | Grant | 57K | — |
| 2025-01-23 | Cheung Lily | Grant | 26K | — |
| 2025-01-23 | Ouimette Mike | Grant | 35K | — |
| 2025-01-23 | Hull Hans | Grant | 40K | — |
| 2025-01-22 | Ouimette Mike | Sell | 10K | $10.99 |
| 2025-01-17 | Cummings Keith Lamont | Sell | 20K | $11.20 |
| 2025-01-17 | Hull Hans | Sell | 16K | $11.20 |
| 2025-01-17 | Coulie Bernard | Sell | 52K | $11.20 |
| 2025-01-17 | Cheung Lily | Sell | 3.7K | $11.20 |
| 2025-01-17 | Ouimette Mike | Sell | 13K | $11.20 |
| 2025-01-17 | Lefebvre Eric | Sell | 18K | $11.20 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT06270706 ↗ | A Phase 1 Study of PLN-101095 in Adults With Advanced or Metastatic Solid Tumors Advanced or Metastatic Solid Tumor | PHASE1 | Recruiting | 2030-06-01 |
| NCT06097260 ↗ | Randomized, Double-blind Study of Efficacy and Safety of Bexotegrast (PLN-74809) for Idiopathic Pulmonary Fibrosis Idiopathic Pulmonary Fibrosis | PHASE2 | Terminated | 2025-04-04 |
| NCT04480840 ↗ | Phase 2a Evaluation of Safety, Tolerability, and Pharmacokinetics of PLN-74809 in Patients With Primary Sclerosing Cholangitis (PSC) Primary Sclerosing Cholangitis | PHASE2 | Completed | 2024-02-26 |
| NCT05621252 ↗ | Imaging Evaluation of PLN-74809 in Participants With IPF (PLN-74809) Idiopathic Pulmonary Fibrosis | PHASE2 | Completed | 2023-12-27 |
| NCT04396756 ↗ | Evaluation of Efficacy and Safety of PLN-74809 in Patients With Idiopathic Pulmonary Fibrosis Idiopathic Pulmonary Fibrosis | PHASE2 | Completed | 2023-02-01 |
| NCT04072315 ↗ | Phase 2a Evaluation of PLN-74809 on αvβ6 Receptor Occupancy Using PET Imaging in Participants With IPF/ Idiopathic Pulmonary Fibrosis | PHASE2 | Completed | 2022-06-27 |
| NCT04565249 ↗ | Evaluation of the Safety, Tolerability, and Pharmacokinetics of PLN-74809 in Participants With Acute Respiratory Distress Syndrome (ARDS) Associated With at Least Severe COVID-19 Acute Respiratory Distress Syndrome, SARS-CoV-2 | PHASE2 | Terminated | 2021-06-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-11 | 0001746473-26-000092 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001746473-26-000090 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001746473-26-000088 ↗ |
| 8-K | 2026-04-17 | 2026-04-14 | 0001746473-26-000050 ↗ |
| 8-K | 2026-03-30 | 2026-03-27 | 0001746473-26-000046 ↗ |
| 8-K | 2026-03-11 | 2026-03-11 | 0001746473-26-000039 ↗ |
| 10-K | 2026-03-11 | 2025-12-31 | 0001746473-26-000037 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001746473-26-000024 ↗ |
| 8-K | 2025-12-16 | 2025-12-10 | 0001746473-25-000182 ↗ |
| 8-K | 2025-12-08 | 2025-12-02 | 0001746473-25-000179 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001746473-25-000175 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001746473-25-000173 ↗ |