By Stephen Nakrosis
Pliant Therapeutics said it would reduce its current workforce by about 45%, part of a strategic realignment to position the company for execution of late stage clinical trials.
The company said Thursday its strategic restructuring and other cost-saving actions will extend its cash runway to support execution of late stage clinical trials.
Pliant is currently waiting for topline data from the BEACON-IPF Phase 2b/3 trial of bexotegrast to patients with idiopathic pulmonary fibrosis, a respiratory system illness. Once available, the company will evaluate the final dataset and determine next steps for bexotegrast's development, it said.
Bexotegrast has received fast track designation from the Food and Drug Administration and orphan drug designation from the FDA and the European Medicines Agency.
The restructuring will impact all departments, and the process is expected to be substantially completed by the end of the second quarter, Pliant said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 01, 2025 17:45 ET (21:45 GMT)
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