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Pliant Therapeutics (PLRX) Surges 44% in A Week: Here's Why
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Since the past week, shares of Pliant Therapeutics (PLRX - Free Report) have surged 43.6% compared with the industry’s breakeven growth.
Image Source: Zacks Investment Research
The main reason for this surge is the company’s recently reported interim data from the ongoing phase IIa INTEGRIS-IPF study, which is evaluating Pliant’s lead candidate bexotegrast (PLN-74809) in patients with idiopathic pulmonary fibrosis (IPF) at multiple dose levels.
The mid-stage study achieved its primary and secondary endpoints at the 320mg dose group over a 12-week treatment period. At a 320mg dose, treatment with bexotegrast achieved a statistically significant mean increase in forced vital capacity (FVC), the study’s primary exploratory efficacy endpoint from baseline at 4, 8 and 12 weeks of treatment, outperforming all lower dose groups. Data from the study also showed that the participants treated with bexotegrast did not experience disease progression.
The company intends to continue the INTEGRIS-IPF study until all patients in the 320 mg dose group have been treated for at least 24 weeks. Management expects to report this final data later this year in the second quarter.
The company also plans to start a phase IIb study evaluating bexotegrast in mid-2023. More details of this study will be shared later this year prior to the study’s initiation.
The INTEGRIS-IPF study is also evaluating bexotegrast at daily doses of 40mg, 80mg and 160mg. The study had achieved its primary and secondary endpoints at these dose groups over a 12-week treatment period, based on data announced by management in July 2022.
Treatment with bexotegrast exhibited a dose-dependent treatment effect on changes in FVC and Quantitative Lung Fibrosis (QLF) compared with placebo over a 12-week treatment period.
The primary endpoint of the INTEGRIS-IPF study is the evaluation of the safety and tolerability of bexotegrast, while the secondary endpoint is the assessment of its pharmacokinetics.
With no approved/marketed drugs, potential success in the development of bexotegrast in IPF will boost Pliant’s growth prospects.
Bexotegrast is an oral dual selective inhibitor of αvß6 and αvß1. Apart from IPF, Pliant is developing the drug for primary sclerosing cholangitis (PSC) indication. Management is conducting a phase IIa study on bexotegrast in PSC indication.
Pliant currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the overall healthcare sector include ADC Therapeutics (ADCT - Free Report) , Arcus Biosciences (RCUS - Free Report) and Eton Pharmaceuticals (ETON - Free Report) . While Arcus Biosciences and Eton Pharmaceuticals sport a Zacks Rank #1 (Strong Buy) at present, ADC Therapeutics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 30 days, estimates for Arcus Biosciences’ 2023 loss per share have narrowed from $4.75 to $4.57. Shares of RCUS have declined 26.1% in the past year.
Earnings of Arcus Biosciences beat estimates in two of the last four quarters, missed on one occasion and met the estimates on another, witnessing an earnings surprise of 56.74%, on average. In the last reported quarter, Arcus Biosciences’ earnings beat estimates by 14.29%.
In the past 30 days, estimates for Eton Pharmaceuticals’ 2022 loss per share have narrowed from 44 cents to 38 cents. During the same period, the earnings estimates per share for 2023 have risen from 1 cent to 6 cents. Shares of ETON have fallen by 0.3% in the past year.
Earnings of Eton Pharmaceuticals missed estimates in three of the last four quarters while beating the mark on one occasion, witnessing a negative earnings surprise of 115.63%, on average. In the last reported quarter, Eton Pharmaceuticals’earnings beat estimates by 20.00%.
In the past 30 days, estimates for ADC Therapeutics’ 2022 loss per share have narrowed from $2.14 to $2.05. During the same period, the loss estimates per share for 2023 have narrowed from $2.71 to $2.68. Shares of ADCT have declined 70.3% in the past year.
Earnings of ADC Therapeutics beat estimates in three of the last four quarters while missing the mark on one occasion, witnessing an earnings surprise of 26.08%, on average. In the last reported quarter, ADC Therapeutics’ earnings beat estimates by 27.45%.
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Pliant Therapeutics (PLRX) Surges 44% in A Week: Here's Why
Since the past week, shares of Pliant Therapeutics (PLRX - Free Report) have surged 43.6% compared with the industry’s breakeven growth.
Image Source: Zacks Investment Research
The main reason for this surge is the company’s recently reported interim data from the ongoing phase IIa INTEGRIS-IPF study, which is evaluating Pliant’s lead candidate bexotegrast (PLN-74809) in patients with idiopathic pulmonary fibrosis (IPF) at multiple dose levels.
The mid-stage study achieved its primary and secondary endpoints at the 320mg dose group over a 12-week treatment period. At a 320mg dose, treatment with bexotegrast achieved a statistically significant mean increase in forced vital capacity (FVC), the study’s primary exploratory efficacy endpoint from baseline at 4, 8 and 12 weeks of treatment, outperforming all lower dose groups. Data from the study also showed that the participants treated with bexotegrast did not experience disease progression.
The company intends to continue the INTEGRIS-IPF study until all patients in the 320 mg dose group have been treated for at least 24 weeks. Management expects to report this final data later this year in the second quarter.
The company also plans to start a phase IIb study evaluating bexotegrast in mid-2023. More details of this study will be shared later this year prior to the study’s initiation.
The INTEGRIS-IPF study is also evaluating bexotegrast at daily doses of 40mg, 80mg and 160mg. The study had achieved its primary and secondary endpoints at these dose groups over a 12-week treatment period, based on data announced by management in July 2022.
Treatment with bexotegrast exhibited a dose-dependent treatment effect on changes in FVC and Quantitative Lung Fibrosis (QLF) compared with placebo over a 12-week treatment period.
The primary endpoint of the INTEGRIS-IPF study is the evaluation of the safety and tolerability of bexotegrast, while the secondary endpoint is the assessment of its pharmacokinetics.
With no approved/marketed drugs, potential success in the development of bexotegrast in IPF will boost Pliant’s growth prospects.
Bexotegrast is an oral dual selective inhibitor of αvß6 and αvß1. Apart from IPF, Pliant is developing the drug for primary sclerosing cholangitis (PSC) indication. Management is conducting a phase IIa study on bexotegrast in PSC indication.
Pliant Therapeutics, Inc. Price
Pliant Therapeutics, Inc. price | Pliant Therapeutics, Inc. Quote
Zacks Rank & Stocks to Consider
Pliant currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the overall healthcare sector include ADC Therapeutics (ADCT - Free Report) , Arcus Biosciences (RCUS - Free Report) and Eton Pharmaceuticals (ETON - Free Report) . While Arcus Biosciences and Eton Pharmaceuticals sport a Zacks Rank #1 (Strong Buy) at present, ADC Therapeutics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 30 days, estimates for Arcus Biosciences’ 2023 loss per share have narrowed from $4.75 to $4.57. Shares of RCUS have declined 26.1% in the past year.
Earnings of Arcus Biosciences beat estimates in two of the last four quarters, missed on one occasion and met the estimates on another, witnessing an earnings surprise of 56.74%, on average. In the last reported quarter, Arcus Biosciences’ earnings beat estimates by 14.29%.
In the past 30 days, estimates for Eton Pharmaceuticals’ 2022 loss per share have narrowed from 44 cents to 38 cents. During the same period, the earnings estimates per share for 2023 have risen from 1 cent to 6 cents. Shares of ETON have fallen by 0.3% in the past year.
Earnings of Eton Pharmaceuticals missed estimates in three of the last four quarters while beating the mark on one occasion, witnessing a negative earnings surprise of 115.63%, on average. In the last reported quarter, Eton Pharmaceuticals’earnings beat estimates by 20.00%.
In the past 30 days, estimates for ADC Therapeutics’ 2022 loss per share have narrowed from $2.14 to $2.05. During the same period, the loss estimates per share for 2023 have narrowed from $2.71 to $2.68. Shares of ADCT have declined 70.3% in the past year.
Earnings of ADC Therapeutics beat estimates in three of the last four quarters while missing the mark on one occasion, witnessing an earnings surprise of 26.08%, on average. In the last reported quarter, ADC Therapeutics’ earnings beat estimates by 27.45%.