Pliant rises after FDA grants fast-track tag to experimental cancer drug
PLRX•FDA fast track for PLN-101095 boosts Pliant shares
Shares of biotech firm Pliant Therapeutics PLRX.O rose 7% to $1.17 premarket after the company said the FDA granted Fast Track designation to its experimental cancer drug PLN-101095 in combination with Merck's Keytruda.
Fast Track status is for patients with advanced solid tumors that no longer respond to immune checkpoint inhibitors, a type of cancer treatment that helps the immune system attack tumors.
PLN-101095 is being tested in an early-stage study in patients with lung cancer, kidney cancer and tumors with high mutation levels. Fast-track status is meant to speed development and review of treatments for serious diseases with unmet medical need.
Pliant expects data from the trial in 2027. As of the last close, the stock was down about 10% year to date.
