Can pos­i­tive but ex­plorato­ry da­ta en­tice in­vestors to $150M raise in a bear mar­ket? Pli­ant will find out

Pli­ant Ther­a­peu­tics is trav­el­ing down the well-trod­den path from pos­i­tive da­ta to pub­lic of­fer­ing — and it’s go­ing to Nas­daq with a siz­able ask.

On the back of ear­ly da­ta for its TGF-β in­hibitor in id­io­path­ic pul­monary fi­bro­sis that more than dou­bled its share price Mon­day, the South San Fran­cis­co-based biotech is look­ing to sell $150 mil­lion worth of its stock in a pub­lic of­fer­ing, with an op­tion for un­der­writ­ers to pur­chase $22.5 mil­lion more.

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