Shares in Pliant Therapeutics (PLRX +55%)
are currently exchanging hands at $24.74 on turnover of ~2.1M shares in
the first day of its IPO of 9M common shares priced at $16.
The South San Francisco, CA-based
biopharmaceutical firm develops treatments for fibrosis. Lead candidate
is PLN-74809, a small molecule inhibitor of certain integrins (class
of proteins that plays a key role in cell-extracellular matrix
adhesion), for the potential treatment of ideopathic (cause unknown)
pulmonary fibrosis (IPF) and a liver disorder called primary sclerosing cholangitis (PSC)
characterized by inflammation and scarring of the bile ducts.
Enrollment is underway in two Phase 2a studies in IPF. A Phase 2a study
in PSC should launch in H2.
https://seekingalpha.com/news/3580092-pliant-therapeutics-up-55-in-u-s-debut
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