Shares of Pliant Therapeutics experienced a notable surge following the announcement that its lead product candidate, bexotegrast, successfully met both primary and secondary endpoints in a clinical trial.
Significant Market Growth
With a 30% increase, the stock rose to $18.91 in premarket trading on Tuesday. This positive development comes as a relief to investors, as the shares had previously fallen by 25% year-to-date at the close of Monday’s market.
Promising Clinical Trial Results
Pliant Therapeutics, a clinical-stage biopharmaceutical company, conducted a Phase 2a trial to assess the effectiveness of bexotegrast in patients with primary sclerosing cholangitis and suspected moderate to severe liver fibrosis.
During the 12-week treatment period, bexotegrast demonstrated excellent tolerability among patients. According to Pliant, plasma concentrations saw a notable increase with dose.
The trial showcased encouraging results at the initial three doses that were tested. Bexotegrast exhibited a reduction in enhanced liver fibrosis scores and PRO-C3 levels compared to a placebo at week 12.
Furthermore, the patients experienced stabilization of liver chemistry, including a promising dose-dependent trend in the reduction of alkaline phosphatase levels relative to a placebo at week 12.
Overall, these findings indicate great potential for bexotegrast as a treatment option for primary sclerosing cholangitis and suspected moderate to severe liver fibrosis.