Quarterly ResultMay 11, 2026, 04:15 PM
Pliant Therapeutics Q1 Net Loss $20M; FORTIFY Trial Doses First Patient
AI Summary
Pliant Therapeutics reported a net loss of $20.0 million for the first quarter of 2026, a significant reduction from $56.2 million in the prior-year quarter, primarily due to lower operating expenses. The company also provided a corporate update, announcing the dosing of the first patient in the FORTIFY Phase 1b trial for PLN-101095 ahead of schedule. Positive updated data from the Phase 1 trial of PLN-101095, showing deepening responses in checkpoint inhibitor-refractory solid tumors, was highlighted at AACR 2026. Pliant ended the quarter with $172.4 million in cash, cash equivalents, and short-term investments, sufficient to fund operations into the second half of 2028.
Key Highlights
- Net loss for Q1 2026 was $20.0 million, down from $56.2 million in Q1 2025.
- Research and development expenses decreased to $13.6 million from $43.4 million year-over-year.
- General and administrative expenses decreased to $8.2 million from $15.5 million year-over-year.
- Cash, cash equivalents, and short-term investments totaled $172.4 million as of March 31, 2026.
- Company expects current cash to fund operations into the second half of 2028.
- First participant dosed in FORTIFY, a Phase 1b indication expansion trial of PLN-101095.
- Updated Phase 1 data for PLN-101095 showed deepening of confirmed responses in solid tumors at AACR 2026.