Pliant Therapeutics Nasdaq: PLRX, Announces Closing of Initial Public Offering and Full Exercise of Option to Purchase Additional Shares
SOUTH SAN FRANCISCO, Calif., June 5, 2020/PRNewswire/ – Pliant Therapeutics, Inc. (Nasdaq: PLRX at https://www.webull.com/quote/nasdaq-plrx), a clinical-stage biopharmaceutical organization concentrated on finding and creating novel treatments for the treatment of fibrosis, today reported the end of its first sale of stock of 10,350,000 portions of normal stock, which includes the activity in full by the financiers of their 30-day choice to buy up to an extra 1,350,000 portions of basic stock, at an open contribution cost of $16.00 per share. The total gross continues to Pliant from the first sale of stock were around $165.6 million, preceding deducting guaranteeing limits and commissions and other contribution costs. The entirety of the portions of regular stock was offered by Pliant. The offers started exchanging on The Nasdaq Global Select Market on June 3, 2020, under the ticker image “Nasdaq: PLRX.”
Citigroup, Cowen, and Piper Sandler went about as joint book-running directors for the first sale of stock. Needham and Company went about as lead supervisor for the contribution.
This official statement will not establish a proposal to sell or a requesting of a proposal to purchase, nor will there be any offer of, these protections in any state or purview wherein such offer, sales or deal would be unlawful before enlistment or capability under the protections laws of any such state or ward.
Pliant Therapeutics Nasdaq: PLRX is a clinical-stage biopharmaceutical organization concentrated on finding and creating novel treatments for the treatment of fibrosis. Pliant’s lead item competitor, PLN-74809, is an oral little atom double specific inhibitor of avß6 and avß1 integrins that it is producing for the treatment of idiopathic pneumonic fibrosis, or IPF, and essential sclerosing cholangitis, or PSC. PLN-74809 has gotten Orphan Drug Designation from the U.S. Food and Drug Administration for both IPF and PSC.
Pliant is as of now enrolling two Phase 2a preliminaries of PLN-74809 for the treatment of IPF and plans to start a Phase 2a preliminary in PSC in the second 50% of 2020. Pliant’s second item competitor, PLN-1474, is a little particle specific inhibitor of avß1 for the treatment of liver fibrosis-related to nonalcoholic steatohepatitis, or NASH, which Pliant has banded together with Novartis. PLN-1474 is right now experiencing a Phase 1 preliminary. Notwithstanding clinical-stage programs, Pliant at present has two preclinical projects focusing on oncology and solid dystrophies. Now you can do stocks trading from online stock trading platforms. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.