Pliant Therapeutics to reduce workforce by 45%

Pliant Therapeutics (PLRX) announced a strategic restructuring of its workforce and other cost saving actions to extend the cash runway to support execution of late-stage clinical trials. The restructuring aims to minimize costs and preserve cash reserves as the company awaits topline data from the BEACON-IPF Phase 2b/3 trial of bexotegrast in patients with idiopathic pulmonary fibrosis. Pliant expects topline data from the BEACON-IPF trial to be available in the second quarter of 2025. Once available, the company will evaluate the final dataset and determine next steps for bexotegrast’s development. The restructuring will result in a reduction of approximately 45% of Pliant’s current workforce. While all departments will be impacted, Pliant’s focus is to maintain the strong late-stage clinical trial execution capability it has built. The process is expected to be substantially completed by the end of the second quarter 2025. The company plans to announce its first quarter 2025 financial results and corporate update on May 8.