Pliant Therapeutics, Inc.
PLRXHealthcare|Biotechnology|US
$0.81
-0.01 (-0.75%)
DCF Value
$0.27
Tangible Book / Share
$2.37
Cash / Share
$2.55
Financials
Financial Snapshot
Market Cap
$50.1M
Enterprise Value
$54.0M
Revenue (TTM)
$0.00
Net Income (TTM)
-$92.3M
Cash & Investments
$158.1M
Net Cash
$129.4M
Free Cash Flow (TTM)
-$70.9M
Operating CF (TTM)
-$70.9M
Debt/Equity
0.20
Cash Runway & Burn Rate
Cash on Hand
$158.1M
Quarterly Burn
$17.7M
Monthly Burn
$5.9M
Est. Runway
~8.9 quarters
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $4.3M | $60.9M | $102.8M | $276.9M | $200.6M | $331.2M | $494.2M | $355.7M | $190.9M | $158.1M | |
| Operating Cash Flow | -$16.9M | -$28.3M | -$2.8M | -$37.3M | -$75.4M | -$94.6M | -$116.4M | -$155.5M | -$128.3M | -$70.9M | |
| Free Cash Flow | -$18.3M | -$30.7M | -$3.7M | -$38.8M | -$77.4M | -$96.4M | -$117.3M | -$159.4M | -$128.7M | -$70.9M | |
| Capital Expenditure | -$1.4M | -$2.3M | -$964.0K | -$1.5M | -$2.0M | -$1.8M | -$921.0K | -$3.8M | -$374.0K | $0.00 | |
| Financing Cash Flow | $20.0M | $87.3M | $45.5M | $213.2M | $2.5M | $226.9M | $274.4M | $23.1M | -$31.7M | -$32.1M |
R&D Spending
R&D (TTM)
$63.6M
R&D Intensity
—
R&D Growth vs Prior
-41.8%
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $57.1M | $41.8M | $7.6M | $9.7M | $1.6M | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $14.5M | $24.4M | $47.4M | $66.2M | $77.5M | $96.9M | $127.8M | $169.3M | $109.2M | $63.6M | |
| R&D % of Revenue | — | — | 83.0% | 158.3% | 1024.2% | 1000.9% | 8088.4% | — | — | — | |
| SG&A | $3.8M | $6.5M | $10.9M | $17.3M | $27.6M | $39.9M | $57.9M | $59.1M | $47.2M | $33.3M |
Income Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $57.1M | $41.8M | $7.6M | $9.7M | $1.6M | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $666.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.7M | $264.0K | |
| Gross Profit | $0.00 | -$666.0K | $57.1M | $41.8M | $7.6M | $9.7M | $1.6M | $0.00 | -$1.7M | -$264.0K | |
| R&D | $14.5M | $24.4M | $47.4M | $66.2M | $77.5M | $96.9M | $127.8M | $169.3M | $109.2M | $63.6M | |
| SG&A | $3.8M | $6.5M | $10.9M | $17.3M | $27.6M | $39.9M | $57.9M | $59.1M | $47.2M | $33.3M | |
| Operating Income | -$18.3M | -$30.9M | -$1.2M | -$41.6M | -$97.5M | -$127.2M | -$184.1M | -$228.4M | -$150.1M | -$97.5M | |
| Interest Expense | $0.00 | $0.00 | $216.0K | $366.0K | $0.00 | $791.0K | $1.3M | $3.0M | $2.6M | $951.0K | |
| Pretax Income | -$18.3M | -$30.3M | -$631.0K | -$41.5M | -$97.3M | -$123.3M | -$161.3M | -$210.3M | -$149.3M | -$92.3M | |
| Net Income | -$20.6M | -$30.3M | -$631.0K | -$41.5M | -$97.3M | -$123.3M | -$161.3M | -$210.3M | -$149.3M | -$92.3M | |
| EPS (Diluted) | -25.67 | -1.83 | -0.19 | -1.17 | -2.71 | -2.94 | -2.75 | -3.47 | -2.43 | -1.49 | |
| EBITDA | -$18.1M | -$30.2M | -$118.0K | -$40.3M | -$95.7M | -$120.7M | -$158.2M | -$205.2M | -$145.1M | -$88.1M | |
| Shares Out. (M) | 0.80 | 16.51 | 35.55 | 35.55 | 35.85 | 42.02 | 58.72 | 60.54 | 61.37 | 61.92 |
Balance Sheet
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.3M | $60.9M | $85.8M | $50.9M | $51.7M | $33.7M | $63.2M | $71.2M | $45.4M | $24.9M | |
| Short-Term Investments | $0.00 | $0.00 | $17.0M | $226.0M | $148.9M | $297.5M | $431.0M | $284.5M | $145.5M | $133.2M | |
| Total Current Assets | $4.7M | $61.7M | $111.9M | $290.8M | $209.4M | $340.3M | $505.5M | $362.3M | $196.4M | $163.1M | |
| Total Assets | $6.6M | $66.5M | $119.1M | $295.5M | $221.2M | $350.6M | $512.2M | $396.9M | $225.2M | $189.9M | |
| Total Current Liabilities | $3.2M | $5.1M | $8.2M | $11.6M | $16.8M | $23.9M | $28.5M | $33.2M | $16.4M | $16.5M | |
| Long-Term Debt | $0.00 | $525.0K | $0.00 | $0.00 | $0.00 | $9.9M | $10.1M | $30.2M | $0.00 | $0.00 | |
| Total Liabilities | $3.2M | $67.4M | $119.5M | $12.5M | $22.2M | $37.3M | $38.6M | $92.9M | $44.0M | $43.0M | |
| Stockholders' Equity | $3.3M | -$882.0K | -$435.0K | $283.1M | $199.1M | $313.3M | $473.6M | $304.1M | $181.2M | $146.9M | |
| Retained Earnings | -$36.6M | -$71.5M | -$76.3M | -$117.8M | -$215.1M | -$338.4M | -$499.7M | -$710.1M | -$859.4M | -$901.8M |
Cash Flow Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$16.9M | -$28.3M | -$2.8M | -$37.3M | -$75.4M | -$94.6M | -$116.4M | -$155.5M | -$128.3M | -$70.9M | |
| Capital Expenditure | -$1.4M | -$2.3M | -$964.0K | -$1.5M | -$2.0M | -$1.8M | -$921.0K | -$3.8M | -$374.0K | $0.00 | |
| Free Cash Flow | -$18.3M | -$30.7M | -$3.7M | -$38.8M | -$77.4M | -$96.4M | -$117.3M | -$159.4M | -$128.7M | -$70.9M | |
| Investing Cash Flow | -$1.4M | -$2.3M | -$17.9M | -$210.9M | $73.7M | -$150.2M | -$127.0M | $140.3M | $134.3M | $41.1M | |
| Financing Cash Flow | $20.0M | $87.3M | $45.5M | $213.2M | $2.5M | $226.9M | $274.4M | $23.1M | -$31.7M | -$32.1M | |
| Issuance of Stock | $0.00 | $32.0K | $174.0K | $161.2M | $3.0M | $215.6M | $275.3M | $3.2M | $570.0K | $146.0K | |
| Repurchase of Stock | -$12.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $10.0M | $0.00 | $19.9M | -$32.3M | -$32.3M | |
| Stock Based Comp. | $33.0K | $228.0K | $1.8M | $3.9M | $10.4M | $22.6M | $44.5M | $37.6M | $26.2M | $19.4M | |
| Net Change in Cash | $1.7M | $56.7M | $24.9M | -$34.9M | $783.0K | -$18.0M | $31.0M | $8.0M | -$25.7M | -$61.9M |
Dilution Tracker
Shares outstanding grew 72.6% over 5 years — significant dilution
Shares Outstanding
62M
5-Year Share Growth
+72.6%
Stock Issuance (TTM)
$146.0K
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.80 | 16.51 | 35.55 | 35.55 | 35.85 | 42.02 | 58.72 | 60.54 | 61.37 | 61.92 | |
| Change vs Prior % | — | 1954.8% | 115.3% | 0.0% | 0.8% | 17.2% | 39.8% | 3.1% | 1.4% | 0.9% | |
| Stock Issuance | $0.00 | $32.0K | $174.0K | $161.2M | $3.0M | $215.6M | $275.3M | $3.2M | $570.0K | $146.0K | |
| Stock Repurchase | -$12.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $33.0K | $228.0K | $1.8M | $3.9M | $10.4M | $22.6M | $44.5M | $37.6M | $26.2M | $19.4M |
Margins & Profitability
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | — | — | — | |
| Operating Margin % | — | — | -2.2% | -99.6% | -1288.1% | -1313.4% | -11654.7% | — | — | — | |
| Net Margin % | — | — | -1.1% | -99.3% | -1284.5% | -1273.3% | -10211.1% | — | — | — | |
| EBITDA Margin % | — | — | -0.2% | -96.5% | -1264.2% | -1246.3% | -10014.4% | — | — | — | |
| FCF Margin % | — | — | -6.5% | -92.8% | -1022.1% | -995.3% | -7422.9% | — | — | — | |
| ROE % | -616.5% | 3432.7% | 145.1% | -14.7% | -48.9% | -39.4% | -34.1% | -69.2% | -82.4% | -53.2% | |
| ROA % | -314.7% | -45.5% | -0.5% | -14.1% | -44.0% | -35.2% | -31.5% | -53.0% | -66.3% | -48.6% | |
| ROIC % | -545.3% | -50.3% | -1.1% | -14.7% | -47.3% | -38.6% | -38.0% | -62.7% | -71.4% | -55.5% | |
| R&D / Revenue % | — | — | 83.0% | 158.3% | 1024.2% | 1000.9% | 8088.4% | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | -26.7% | -81.9% | 27.9% | -83.7% | -100.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | 8666.4% | -26.7% | -81.9% | 27.9% | -83.7% | -100.0% | 0.0% | |
| Operating Income | 0.0% | -68.5% | 96.0% | -3283.0% | -134.2% | -30.4% | -44.8% | -24.0% | 34.3% | |
| Net Income | 0.0% | -46.8% | 97.9% | -6482.1% | -134.2% | -26.8% | -30.8% | -30.4% | 29.0% | |
| EPS (Diluted) | 0.0% | 92.9% | 89.6% | -515.8% | -131.6% | -8.5% | 6.5% | -26.2% | 30.0% | |
| Operating Cash Flow | 0.0% | -67.4% | 90.3% | -1255.3% | -102.4% | -25.4% | -23.0% | -33.6% | 17.5% | |
| Free Cash Flow | 0.0% | -67.2% | 87.9% | -944.8% | -99.5% | -24.5% | -21.7% | -35.9% | 19.2% | |
| R&D Expense | 0.0% | 68.1% | 94.0% | 39.8% | 17.2% | 25.0% | 31.8% | 32.5% | -35.5% | |
| SG&A Expense | 0.0% | 70.0% | 68.2% | 58.0% | 59.6% | 45.0% | 45.0% | 1.9% | -20.0% | |
| Total Assets | 0.0% | 915.2% | 79.0% | 148.2% | -25.1% | 58.5% | 46.1% | -22.5% | -43.3% | |
| Book Value / Share | 0.0% | -101.3% | 77.1% | 65168.8% | -30.3% | 34.3% | 8.1% | -37.7% | -41.2% | |
| Debt | 0.0% | 0.0% | -15.4% | -100.0% | 0.0% | 119.8% | -28.1% | 429.3% | -51.6% | |
| Diluted Shares | 0.0% | 1954.8% | 115.3% | 0.0% | 0.8% | 17.2% | 39.8% | 3.1% | 1.4% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High13.27 / 63.91 / 673.04
P/B0.34
10Y Low / Med / High0.41 / 2.59 / 5.12
EV/EBITDAAt Loss
EV/Revenue0.00
10Y Low / Med / High11.78 / 58.04 / 640.22
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.27
Tangible Book / Share
$2.37
Net Current Assets / Share
$1.94
Graham Net-Net
$1.87
Cash / Share
$2.55
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -0.83 | -11.64 | -112.11 | -19.42 | -4.98 | -6.57 | -6.59 | -3.80 | -0.50 | -0.54 | |
| P/S Ratio | 0.00 | 0.00 | 13.27 | 19.32 | 63.91 | 83.86 | 673.04 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 5.12 | -398.71 | -1740.79 | 2.85 | 2.43 | 2.59 | 2.25 | 2.62 | 0.41 | 0.34 | |
| EV/EBITDA | -0.71 | -9.63 | -5693.90 | -18.76 | -4.59 | -6.58 | -6.39 | -3.83 | -0.40 | -0.61 | |
| EV/Revenue | 0.00 | 0.00 | 11.78 | 18.10 | 58.04 | 82.01 | 640.22 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-6.58
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $2.5M | $7.5M | $15.0M |
| Net Income | -$87.6M | -$83.1M | -$65.8M |
| EPS | $-1.43 | $-1.36 | $-1.07 |
| # Analysts (EPS) | 2 | 2 | 2 |