Pliant Therapeutics is a clinical-stage company developing PLN-101095, an oral drug meant to make tumors that stopped responding to immunotherapy respond again; it is not approved.
Pliant's original case, bexotegrast in idiopathic pulmonary fibrosis, ended in 2025, and it now rests on PLN-101095, an oral integrin blocker in cancers resistant to checkpoint inhibitors. In Phase 1, 4 of 10 such patients responded when pembrolizumab was added, one unconfirmed, and interim data from the Phase 1b FORTIFY trial are expected in 2027. Cash and short-term investments of $159.6 million are expected to last into the second half of 2028.
Thesis checklist
0 risks need attention
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Next decision point
Tests: FORTIFY shows responses in resistant tumors
Does PLN-101095 with pembrolizumab produce durable responses in checkpoint inhibitor-resistant tumors?
Strong, inconclusive and weak outcomes
What to look for in the result and how each would move the checklist
Price and material events
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Pliant's FORTIFY trial of PLN-101095 in checkpoint inhibitor-resistant tumors is enrolling ahead of schedule, with interim data expected in 2027; cash of $159.6 million lasts into the second half of 2028
PLN-101095 pivots Pliant into ICI-resistant oncology; 2027 Phase 1b interim data will test whether integrin blockade can restore checkpoint sensitivity
About this history: every entry shows when the Thesis moved and what it said. The reasoning behind each move (the evidence, the analysis and the source filing) and the earnings write-ups are part of a subscription.
Dates, trials and completed outcomes are open to everyone. What each upcoming milestone hinges on is part of a subscription.
Disease areas: Lung cancer, Other cancers
Catalyst calendar · Upcoming FDA decisions · Thesis changes
Competitive landscape
2 peers tracked
Cash: Market-data provider estimate; measurement period unavailable.
Debt: Market-data provider estimate; a complete comparable filing balance is unavailable.
Quarterly burn: Estimated from trailing free cash flow; measurement period unavailable.
Net cash and estimated runway require verified matching measurement periods. Missing debt components are not assumed to be zero.
Runway: No underlying guidance available.