Fol­low­ing pos­i­tive da­ta for pul­monary fi­bro­sis drug, Pli­ant to sell $175M in stock

A day af­ter Pli­ant Ther­a­peu­tics shared pos­i­tive tri­al da­ta for its pul­monary fi­bro­sis drug that sent its stock up 50%, the com­pa­ny plans to sell $175 mil­lion of its stock to keep mov­ing its pipeline for­ward.

The com­pa­ny’s state­ment is bare bones in terms of in­for­ma­tion, but Pli­ant did say it would spend some of the ex­tra cash on pro­grams for two can­di­dates, bex­ote­grast and PLN-101095, as well as oth­er ex­pens­es. There’s no com­ple­tion date for the of­fer­ing, and the of­fer­ing’s un­der­writ­ers will have a 30-day op­tion to pur­chase up to $26.25 mil­lion worth of the shares.

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