Pliant Therapeutics Reports Q4 2022 Financial Results, Misses on EPS but Beats on Revenue

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Pliant Therapeutics (NASDAQ: PLRX) reported its fourth quarter results on Thursday, with a GAAP loss per share of $0.72, missing analysts’ expectations by $0.02. However, the company’s revenue of $1.97 million, down 1.5% year-over-year, beat expectations by $0.8 million.

Pliant Therapeutics is a clinical-stage biopharmaceutical company that focuses on discovering, developing, and commercializing novel treatments for fibrosis, a disease characterized by the formation of excess fibrous connective tissue in an organ or tissue. The company’s lead product candidate, PLN-74809, is currently in Phase 2 clinical development for the treatment of idiopathic pulmonary fibrosis.

Despite the earnings miss, Pliant Therapeutics remains optimistic about the future. The company’s CEO, Bernard Coulie, stated in the earnings release that “we continue to make progress on our Phase 2 studies in idiopathic pulmonary fibrosis and primary sclerosing cholangitis, and we look forward to reporting top-line data from these studies in 2022.”

In addition to its lead product candidate, Pliant Therapeutics also has a pipeline of other potential treatments for fibrosis, including PLN-1474, which is in preclinical development for the treatment of liver fibrosis.
Shares of Pliant Therapeutics were down slightly in after-hours trading following the earnings report, but the stock has performed well over the past year, up over 90% in that time period.

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