Pliant Therapeutics, a Phase 2 biotech developing therapies for the treatment of fibrosis, raised $144 million by offering 9.0 million shares at $16, the high end of the $14 to $16 range.
Earlier on Tuesday, Pliant filed an amendment adding 3.0 million shares to the offering, a 50% increase from the original deal size. Existing shareholder and collaboration partner Novartis invested an additional $10 million in a concurrent private placement.
Pliant Therapeutics plans to list on the Nasdaq under the symbol PLRX. Citi, Cowen and Piper Sandler acted as lead managers on the deal.
