PLN-74809 is a drug currently in development by the company to treat patients suffering from Idiopathic Pulmonary Fibrosis. The current clinical trial was going over the safety and efficacy of treating these patients with the drug.
According to Pliant Therapeutics, results from the clinical trial were positive. This saw PLN-74809 succeed in meeting its primary and secondary endpoints in the clinical trial. That includes being well-tolerated over a 12-week period and showing a favorable pharmacokinetic profile.
Éric Lefebvre, M.D., chief medical officer of Pliant Therapeutics, said the following about the data in a press release.
“Data from the INTEGRIS-IPF trial exceeded our expectations exhibiting a favorable safety and tolerability profile and a treatment effect on FVC, the current registrational endpoint in IPF. Importantly, the treatment effect was also observed on top of standard of care therapy.”
News of the positive clinical trial results has PLRX stock seeing heavy trading on Monday. As of this writing, more than 37 million shares of the stock have changed hands. That’s a massive jump compared to its daily average trading volume of about 298,000 shares.
PLRX stock is up 115.6% as of Monday morning and is up 35.8% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.