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On Monday, Pliant Therapeutics Inc. (NASDAQ:PLRX) announced the discontinuation of the BEACON-IPF Phase 2b trial, which evaluated bexotegrast in patients with idiopathic pulmonary fibrosis (IPF).
The move follows a prespecified data review and recommendation by the trial’s independent Data Safety Monitoring Board and a secondary review and recommendation by an outside expert panel.
Needham downgraded Pliant Therapeutics, citing no meaningful catalysts or upside drivers over the next year.
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Needham analyst Joseph Stringer writes that the IPF program was the main value …
