Pliant Therapeutics shares surge as liver-disease treatment shows promise in clinical trial

Pliant Therapeutics Inc. shares
PLRX,
+11.45%
gained 23% premarket on Tuesday after the company released results from a trial of bexotegrast, a treatment for a chronic liver disease. The trial met its primary and secondary goals, and bexotegrast was well tolerated over a 12-week treatment period in patients with primary sclerosing cholangitis (PSC) and suspected liver fibrosis, the company said in a release. In PSC, which affects more than 30,000 people in the U.S. and has no treatment currently approved by the Food and Drug Administration, bile can build up in the liver and cause damage. Pliant is also looking to broaden future development of bexotegrast into other pulmonary and liver indications, the company said. Pliant shares are down 24% in the year to date, while the S&P 500
SPX,
-1.09%
has gained 13%.