Pliant Therapeutics

Elevation Oncology has agreed to be acquired by Concentra Biosciences, controlled by hedge fund Tang Capital Partners, for $0.36 per share in cash with additional contingent value rights.

Pliant Therapeutics has announced a 45% reduction in its workforce following the termination of its Phase 2 clinical trial for idiopathic pulmonary fibrosis (IPF).

• Interim data from a Phase 1 trial showed 50% objective response rate in patients receiving PLN-101095 with pembrolizumab at the highest dose tested (1000 mg BID), with confirmed partial responses across multiple tumor types including NSCLC, melanoma, and cholangiocarcinoma. • The integrin αvβ8 and αvβ1 inhibitor PLN-101095 was generally well tolerated across all doses, with rash (33.3%), fatigue (22.2%), and squamous cell carcinoma/keratoacanthoma (22.2%) being the most common treatment-emergent adverse events. • The novel combination targets the TGF-β pathway to potentially overcome immune checkpoint inhibitor resistance by increasing immune cell infiltration into the tumor microenvironment, offering hope for patients with limited treatment options.

• Pliant Therapeutics has announced the termination of their Phase 2b clinical trial evaluating an investigational therapy for idiopathic pulmonary fibrosis, citing strategic portfolio decisions. • The decision impacts the development program for their lead compound in IPF treatment, marking a significant shift in the company's therapeutic pipeline strategy. • This development adds to the challenges in the IPF therapeutic landscape, where there remains a high unmet need for effective treatment options.

• Pliant Therapeutics has suspended enrollment and dosing in their Phase 2b/3 trial of bexotegrast for idiopathic pulmonary fibrosis following safety monitoring board recommendations. • RBC Capital Markets responds by downgrading Pliant Therapeutics stock from Outperform to Sector Perform, dramatically reducing price target from $45 to $4. • The trial suspension could either lead to protocol modifications in consultation with FDA or potentially signal serious safety concerns that might end the program entirely.

Pliant Therapeutics has temporarily suspended enrollment and dosing in its Phase IIb/III BEACON-IPF trial of Bexotegrast following recommendations from the independent Data Safety Monitoring Board.

The advanced liver cancer market is projected to grow from $2.31 billion in 2024 to $11.13 billion by 2035, exhibiting a CAGR of 15.38%, according to IMARC Group research.

• Refoxy Pharma secured $9.58 million to advance its FOXO3-targeting IPF drug, RP-01, aiming to modulate tissue repair mechanisms. • Boehringer Ingelheim plans to submit an NDA for nerandomilast after a successful Phase 3 trial showing improved lung function in IPF patients. • Endeavor BioMedicines' ENV-101 and Insilico Medicine's ISM001-055 demonstrate promising results in improving lung function and reducing fibrosis in Phase 2 trials. • Bristol Myers Squibb's BMS-986278, an LPA1 antagonist, received FDA Breakthrough Therapy Designation after reducing the rate of FVC decline by 69% in a Phase 2 study.