Why Shares of Pliant Therapeutics Are Rising Tuesday
Shares of clinical-stage biotech Pliant Therapeutics (NASDAQ: PLRX) were up more than 14% as of 11 a.m. ET on Tuesday after the company announced positive phase 2a trial information for its lead therapy. The stock is down more than 12% so far this year.
Pliant focuses on therapies to treat fibrotic conditions. On Tuesday, before the markets opened, the healthcare company said that its therapy bexotegrast met its primary and secondary endpoints after 12 weeks to treat the respiratory disease idiopathic pulmonary fibrosis (IPF) and the liver ailment primary sclerosing cholangitis (PSC). Pliant said the therapy was well tolerated and reduced the enhanced liver fibrosis (ELF) score and collagen synthesis biomarker levels compared to a placebo.
The company also said that the therapy helped stabilize patient liver chemistry, compared to a placebo, along with improved hepatocyte function and bile flow.
Source Fool.com
