On Tuesday, Stifel reaffirmed its Buy rating on Pliant Therapeutics (NASDAQ: PLRX) stock, following the recent announcement of topline data from an exploratory study.
Pliant Therapeutics shared results from their IPF PET study of Bexotegrast, which was also discussed during their first-quarter 2024 earnings update last week.
The study's findings have contributed to the ongoing discussions about the potential of early positive Phase 2a data and its implications for future clinical trial phases.
The data from the study, which involved a small cohort of 10 participants, showed a clear distinction for the 160mg dose of Bexotegrast, one of two doses moving forward into Phase 2b/3 trials.
The efficacy of the drug was measured using a collagen-specific PET-tracer and Forced Vital Capacity (FVC), both of which indicated positive outcomes.
The 160mg dose demonstrated an FVC improvement compared to placebo, with the results aligning with those observed in the Phase 2a trial for both the 160mg and 320mg doses.
The FVC improvement for the 160mg arm was approximately 106mL compared to placebo, which is in the range of the 85mL and 140mL improvements seen for the 160mg and 320mg doses, respectively, in the Phase 2a trial.
This consistency adds to the evidence supporting Bexotegrast's potential effectiveness in treating Idiopathic Pulmonary Fibrosis (IPF) within a patient population that seems largely comparable, according to Stifel's analysis.
Additionally, the safety profile of Bexotegrast was considered clean, as the study reported no serious adverse events (SAEs) or discontinuations among participants. This safety data is particularly important as the drug progresses through the clinical trial process.
The positive topline data from this exploratory study are significant as Pliant Therapeutics advances Bexotegrast into later-stage clinical trials, with Phase 2b/3 data now anticipated to be available around 2026.
The findings provide further evidence that may help in assessing the drug's potential efficacy and safety in a larger patient population in the future.
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