Pliant Therapeutics Announces Incentive Grant Under Nasdaq Rule 5635(c)(4) By Investing.com
SOUTH SAN FRANCISCO, Calif., Jan. 22, 2025 (GLOBE NEWSWIRE) — Pliant Therapeutics, Inc . (Nasdaq: PLRX), today announced that it has granted stock options to purchase an aggregate of 275,000 shares of common stock on January 21, 2025 upon the grant to Delphine Imbert, Ph.D The company’s newly appointed Chief Technical Officer, as a material incentive for her employment.
The stock options granted are subject to an exercise price of $11.07 per share, which is equal to the closing price of the Company’s common stock on January 21, 2025, and will vest over 4 years, with 25% of the shares underlying the employee’s vesting options for one year from the date of grant and acquisition of the remaining shares thereafter in monthly installments at a rate of 1/48th shares underlying such stock options during the next 36 months, provided that the employee in question continues to work for the Company. Stock options have a term of 10 years. This award is subject to the terms and conditions of the Company’s 2022 Incentive Plan.
About Pliant Therapeutics, Inc.
Pliant Therapeutics is a late-stage biopharmaceutical company and a leader in the discovery and development of novel therapeutics for the treatment of fibrotic diseases. Pliant’s lead product candidate, bexotegrast (PLN-74809), is an oral, small molecule, dual selective inhibitor of αcß6 and αcß1 integrins that are in development as a lead indication for the treatment of idiopathic pulmonary fibrosis, or IPF. Bexotegrast received Fast Track and Orphan Drug Designation from the US Food and Drug Administration (FDA) and Orphan Drug Designation from the European Medicines Agency in IPF. Pliant has initiated BEACON-IPF, an adaptive phase 2b/3 trial of bexotegrast in IPF. Pliant is conducting a Phase 1 study for its third clinical program, PLN-101095, a small molecule, biselective inhibitor of αcß8 and αcß1 integrin, which is being developed for the treatment of solid tumors. In addition, Pliant received regulatory approval to conduct a Phase 1 study of PLN-101325, an integrin monoclonal antibody agonist α7β1 targeted at muscular dystrophies.
For additional information, visit: www.PliantRx.com. Follow us on social media X, LinkedIn and Facebook (NASDAQ:).
Contact for investors and media:
Christopher Keenan
Vice President, Investor Relations and Corporate Communications
Pliant Therapeutics, Inc.
ir@pliantrx.com
