0001746473-26-000037
SEC filingPliant Therapeutics, Inc. reported a net loss of $149.3 million for fiscal year 2025, with no revenue generated during the period. The company's operating loss was $156.4 million, primarily driven by research and development expenses of $109.2 million and general and administrative expenses of $47.2 million. The company maintained a strong liquidity position with total current assets of $196.4 million, including $45.4 million in cash and cash equivalents and $145.5 million in short-term investments. Total assets stood at $225.2 million against total liabilities of $44.0 million, resulting in stockholders' equity of $181.2 million. The company used $128.3 million in operating cash flow but generated $134.3 million from investing activities, primarily from the maturity of short-term investments. Basic and diluted net loss per share was $2.00, with weighted average shares outstanding of 61.4 million.
Pliant Therapeutics, Inc. reported a net loss of $149.3 million for fiscal year 2025, with no revenue generated during the period. The company's operating loss was $156.4 million, driven by total operating expenses of $156.4 million, which consisted of $109.2 million in research and development expenses and $47.2 million in general and administrative expenses. The company reported interest and other income of $11.4 million, which partially offset the operating loss. Comprehensive loss totaled $149.7 million, including a net unrealized loss on short-term investments of $336,000. The company's net loss per share was $2.00 for both basic and diluted calculations, based on weighted average shares outstanding of 61.4 million.
No revenue was reported for fiscal year 2025. The company is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for fibrotic diseases. The absence of revenue indicates the company remains in the development phase with its product candidates. No segment breakdown or geographic revenue mix was disclosed in the provided data.
The company reported no gross profit or gross margin due to zero revenue. Operating margin cannot be calculated as a percentage due to the absence of revenue. The company's cost structure is dominated by research and development expenses, which accounted for approximately 70% of total operating expenses. General and administrative expenses represented the remaining 30% of operating costs. Stock-based compensation expense was $26.2 million, representing a significant non-cash component of operating expenses.
The company used $128.3 million in net cash from operating activities during fiscal year 2025. Investing activities provided $134.3 million in net cash, primarily from $337.9 million in maturities of short-term investments, partially offset by $203.4 million in purchases of short-term investments. Financing activities used $31.7 million in net cash, including $32.3 million in debt payments. Total cash, cash equivalents, and restricted cash decreased by $25.7 million to $64.7 million. The balance sheet shows total assets of $225.2 million, with current assets of $196.4 million. Total liabilities were $44.0 million, resulting in stockholders' equity of $181.2 million. The accumulated deficit increased to $859.4 million.
No specific management guidance, strategic priorities, or forward-looking statements were provided in the extracted financial data. The company's clinical-stage status suggests continued investment in research and development activities. Risk factors typical for clinical-stage biopharmaceutical companies include dependence on successful clinical trials, regulatory approvals, and future financing needs. The company's cash position and short-term investments provide resources to fund operations, though the significant cash burn from operations indicates ongoing capital requirements.