PLIANT THERAPEUTICS Reports Q3 FY2023 Earnings Results on November 9 2023
November 20, 2023
🌥️Earnings Overview
On November 9 2023, PLIANT THERAPEUTICS ($NASDAQ:PLRX) released their financial results for the third quarter of FY2023, which ended September 30 2023. The total revenue for the quarter amounted to USD 0.0 million, representing a decrease of 100.0% from the same quarter in FY2022. The reported net income for the quarter was USD -41.5 million, compared to a loss of USD -30.6 million in the same quarter of the prior year.
Share Price
On November 9, PLIANT THERAPEUTICS reported its financial results for the third quarter of fiscal year 2023. The company’s stock opened at $15.2 and closed at $14.2, a 5.5% drop from its last closing price of $15.0. This marked the lowest close of PLIANT THERAPEUTICS stock since July 2023. Investors responded to the results with caution, as it was lower than what analysts had predicted. The stock has been underperforming since June 2023 and investors are concerned about the company’s long-term outlook. The quarterly report showed that PLIANT THERAPEUTICS is still struggling to meet its financial goals.
The revenue was lower than expected and the company recorded a net loss of $4 million. PLIANT THERAPEUTICS management attributes the weak performance to continued weakness in the healthcare sector, which has been exacerbated by the ongoing pandemic. Despite the weak quarter, PLIANT THERAPEUTICS still expects to be profitable in the upcoming quarters as it continues to invest in new products and initiatives. The company remains confident that its treatments and therapies will continue to be successful in the long run as healthcare spending increases over time. Overall, PLIANT THERAPEUTICS reported a disappointing set of results for Q3 FY2023, but investors are still holding out hope that the company will be able to turn things around in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Pliant Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 3.54 | -155.29 | -4380.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Pliant Therapeutics. More…
| Operations | Investing | Financing |
| -122.5 | -138.91 | 274.47 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Pliant Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 540.46 | 37.42 | 8.4 |
Key Ratios Snapshot
Some of the financial key ratios for Pliant Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -66.5% | – | -4344.8% |
| FCF Margin | ROE | ROA |
| -3484.5% | -18.6% | -17.8% |
Analysis
As an investor, it is important to analyze the fundamentals of PLIANT THERAPEUTICS. Using our GoodWhale Star Chart, we can classify PLIANT THERAPEUTICS as an ‘elephant’ – a type of company that is rich in assets after deducting off liabilities. In other words, this company is likely to sustain future operations in times of crisis. It has an intermediate health score of 4/10 with regard to its cashflows and debt. In terms of potential returns, PLIANT THERAPEUTICS is strong in asset, medium in growth, profitability and weak in dividend. Therefore, investors who are seeking higher returns and are willing to take on higher risks may find this company attractive. Those who are more conservative may find other companies with greater dividend returns more suitable. More…
Peers
In the biopharmaceutical industry, Pliant Therapeutics Inc is up against some tough competition from the likes of Epizyme Inc, Kinnate Biopharma Inc, and PhaseBio Pharmaceuticals Inc. All of these companies are striving to develop innovative new therapies to treat a variety of diseases. Pliant Therapeutics Inc is focused on developing treatments for fibrotic diseases, while its competitors are working on therapies for cancer, genetic disorders, and other diseases. While all of these companies are working towards similar goals, they are all also vying for a limited pool of resources. This competition is likely to continue in the future as all of these companies attempt to bring their groundbreaking therapies to market.
– Epizyme Inc ($NASDAQ:KNTE)
Kinnate Biopharma Inc is a clinical-stage biopharmaceutical company developing novel small molecule therapeutics for the treatment of cancer. The company’s product candidate, KIN001, is a first-in-class inhibitor of the tyrosine kinase activity of the c-Met receptor, which is overexpressed in various solid tumors. Kinnate Biopharma Inc has a market cap of 384.51M as of 2022 and a Return on Equity of -27.29%. The company’s focus on developing novel small molecule therapeutics makes it an attractive option for investors looking to gain exposure to the growing biopharmaceutical industry.
– Kinnate Biopharma Inc ($NASDAQ:PHAS)
In 2022, Alnylam Pharmaceuticals had a market cap of $5.33 million and a return on equity of 58.1%. The company focuses on the development and commercialization of RNAi therapeutics for the treatment of genetically defined diseases.
Summary
Investors analyzing PLIANT THERAPEUTICS should take note of the company’s third quarter earnings results for FY2023. Revenue for the quarter was USD 0.0 million, a significant decrease from the same time period a year before. The reported net income was USD -41.5 million, compared to a loss of -30.6 million in the same quarter of the prior year.
The news sent the stock price down, indicating that investors were not optimistic about the company’s performance. Analysts should consider whether the company is on track to return to profitability or if the current financials indicate that further losses are likely ahead.
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