Pliant Therapeutics Announces Nasdaq Rule 5635(c)(4) Inducement Grant

June 12, 2024 – Pliant Therapeutics, Inc. (Nasdaq: PLRX) announced on June 10, 2024, that it granted stock options to acquire a total of 120,000 shares of common stock to Chohee Yun, M.D., the newly appointed Senior Vice President of Clinical Development. This grant is intended as a significant inducement for her joining the company. 

The stock options have an exercise price set at $11.51 per share, which matches the closing price of the company's stock on the same day. The vesting schedule is over four years: 25% of the shares will vest on the first anniversary of the grant date, while the remaining shares will vest in monthly installments over the following three years. These stock options come with a 10-year term and are governed by the terms and conditions of the company's 2022 Inducement Plan.

Pliant Therapeutics is a biopharmaceutical firm at an advanced stage of development, specializing in innovative treatments for fibrotic diseases. The company's leading product candidate is bexotegrast (PLN-74809), an oral, small molecule that selectively inhibits αvß6 and αvß1 integrins. Bexotegrast is in development for idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC). This candidate has been granted Fast Track Designation and Orphan Drug Designation by the U.S. Food and Drug Administration (FDA) for both IPF and PSC, and by the European Medicines Agency for IPF and PSC. The company has launched BEACON-IPF, an adaptive Phase 2b/3 clinical trial for bexotegrast in IPF.

Additionally, Pliant Therapeutics is working on a third clinical program, PLN-101095, which is a small molecule that also serves as a dual-selective inhibitor of αvß8 and αvß1 integrins. This program targets the treatment of solid tumors and is currently in a Phase 1 study. Furthermore, Pliant has received regulatory clearance to conduct a Phase 1 study for PLN-101325, which is a monoclonal antibody agonist targeting integrin α7β1 for the treatment of muscular dystrophies.

Pliant Therapeutics continues to make significant strides in developing novel therapeutics aimed at fibrotic and other serious diseases, underpinning its commitment to improving patient outcomes through innovative science and targeted treatment strategies. 

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