Start here if you're new
what it is
Pliant is trying to turn fibrosis drugs into future sales, but right now it mostly turns cash into clinical trials.
how it gets paid
Last year Pliant Therapeutics made $0 in revenue.
what just happened
Latest quarterly EPS came in at -$0.43, better than the recent consensus loss of -$0.44.
At a glance
C+ balance sheet — struggling to keep the lights on
90/100 earnings predictability — you can trust these numbers
-$3.47 fy2024 eps est
$2M fy2023 rev est
1.1 beta
xvary composite: 32/100 — weak
What they do
Pliant is trying to turn fibrosis drugs into future sales, but right now it mostly turns cash into clinical trials.
Pliant's edge is focus. It has 171 employees and one lead program, bexotegrast, already in an adaptive Phase 2b/3 IPF study, so your bet is concentrated on one shot instead of a scattered lab menu. Orphan Drug Designation (FDA status for rare diseases → less competition and possible market exclusivity → your win gets more room if the drug works) in both IPF and PSC gives that lead asset a clearer lane.
How they make money
$0
annual revenue
The products that matter
oncology drug candidate
PLN-101095
Phase 1 data due april 2026
it is the lead program, with Phase 1 data expected in April 2026, and the stock carries only an $84M market cap because there is no product revenue to cushion a miss.
lead catalyst
fibrosis discovery platform
integrin-based pipeline
$2M annual revenue base
the broader pipeline sits behind a business producing just $2M in revenue. until one program proves it can work, platform value stays theoretical.
science first
Key numbers
$3.47
fy2024 eps
EPS → profit per share → so what: each share absorbed a $3.47 loss in 2024, worse than the $2.75 loss in 2023.
5/100
price stability
Price stability → how calm the stock trades → so what: this behaves like a loose shopping cart, not a bond proxy.
$59M
long-term debt
Long-term debt → money owed beyond a year → so what: that is 41% of capital for a company with $0 annual revenue.
$0
annual revenue
Revenue → money customers actually pay you → so what: Pliant still has no commercial proof.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $59M (41% of capital)
C+ — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for PLRX right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Latest quarterly EPS came in at -$0.43, better than the recent consensus loss of -$0.44.
That beat is tiny. The bigger picture is still a business with $0 annual revenue in EDGAR and an estimated full-year 2024 loss of $3.47 a share.
$0
revenue
$2.05
eps
0.0%
gross margin
the number that mattered
The number that matters is still $0 revenue, because beating a loss estimate by $0.01 does not change the business model.
source: company earnings report, 2026
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What could go wrong
the #1 risk is clinical trial failure for PLN-101095 in the April 2026 readout.
med
one bad dataset can break the story
The lead program is the main reason this stock still has option value. With only $2M in revenue and no commercial product, a weak Phase 1 readout would hit the thesis directly.
There is no operating engine here to absorb a miss.
med
cash burn meets real debt
PLRX carries $59M of long-term debt, equal to 41% of capital, while posting a -61.55% return on equity. That is a rough setup for a company still paying for science.
If new funding comes through equity, existing holders own a smaller slice of the same idea.
med
the pipeline is broader than the stock story
Pliant has an integrin-based platform, but the market is focused on one lead catalyst. When one asset carries the narrative, timeline slips and mediocre data both hurt more.
April 2026 matters because there are not enough other proof points to distract the market.
With just $2M of revenue and $59M of debt, a bad readout would pressure both sentiment and financing options.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
PLN-101095 phase 1 data
The key readout is expected in April 2026, with AACR scheduled for April 17–22. That is the date the story has to start proving itself.
balance sheet
debt versus revenue
$59M of long-term debt against $2M of revenue is the number mismatch to keep in your head. If that gap widens, the financing risk gets louder.
ownership
kevin tang after the rights plan expiry
Tang already owns 9.6%, and the poison pill expired on March 11, 2026. In an $84M company, one active holder can become part of the thesis.
expectations
the gap between $1.23 and the $3.00 target
That 144% spread looks exciting until you remember what it depends on. The target only matters if the data gives analysts a reason to keep it.
Analyst rankings
earnings predictability
90 / 100
in human-speak, the losses arrive pretty much on schedule. that makes modeling easier, not the business safer.
avg. analyst target
$3.00
6 analysts sit well above the current $1.23 price. read that as conditional optimism tied to trial data, not a promise.
beta
1.1
beta measures how much a stock moves with the market. at 1.1, PLRX roughly follows the tape, but biotech headlines still dominate the ride.
source: institutional data
Institutional activity
institutional ownership data for PLRX is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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