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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