H.C. Wainwright downgraded Pliant Therapeutics (PLRX) to Neutral from Buy without a price target after the company voluntarily paused enrollment and dosing in the ongoing Phase 2b BEACON-IPF clinical trial of bexotegrast in patients with idiopathic pulmonary fibrosis. “This could turn out to be nothing, or it could spell the end for bexotegrast,” the analyst tells investors in a research note. The firm cites the “high degree of uncertainty currently regarding the company’s primary asset” for the downgrade.
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