ALLR - Why Is Pliant Therapeutics (PLRX) Stock Up 62% Today?
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Pliant Therapeutics (NASDAQ:PLRX) stock is taking off on Monday after releasing positive clinical trial data for bexotegrast.
This is the company’s treatment in development for patients suffering from idiopathic pulmonary fibrosis (IPF). The clinical trial was testing the effectiveness of a once-daily 320 mg dose of the drug over a 12-week period.
The results from that Phase 2a clinical trial saw it meeting its primary and secondary endpoints. That includes a mean increase in forced vital capacity (FVC), Quantitative Lung Fibrosis (QLF) imaging, and biomarkers.
It’s worth noting the INTEGRIS-IPF Phase 2a trial also tested 40 mg, 80 mg, 160 mg, 320 mg, or placebo doses over the 12-week period. The 320 mg group of patients saw the strong effects of the drug while still avoiding drug-related severe or serious adverse events.
What’s Next for PLRX Stock?
It’s possible we’ll see more gains for Pliant Therapeutics’ shares considering these latest results. In fact, PLRX CMO Éric Lefebvre says the company is already preparing for more clinical trials.
“Data from the INTEGRIS-IPF trial have far exceeded our expectations, supporting bexotegrast’s favorable safety profile and demonstrating a statistically significant treatment response on FVC at 320 mg. We look forward to advancing bexotegrast into Phase 2b clinical development.”
PLRX stock is seeing heavy trading with today’s news. As of this writing, some 2 million shares are on the move. That’s well above its daily average trading volume of about 409,000 shares.
PLRX stock is up 62.1% as of Monday morning.
Investors looking for more of the latest stock market news are in luck!
We’ve got all of the hottest stock news traders need to know about on Monday! Among that is what has Allarity Therapeutics (NASDAQ:ALLR) stock rising, this morning’s biggest pre-market stock movers, and more. You can check out all of that news at the links below!
More Monday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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