PLRX Stock Forecast: $PLRX 2022 is revised LOWER to $43.5
| PLRX Stock Forecast: PLRX Forecast for the next 12 months is $43.5(Revised Lower) |
PLRX Stock Forecast: Performance Chart 2022
| Metric | 5D | YTD | |
| PLRX | +10.25% | +41.91 |
PLRX Stock Forecast: 2021 Review
PLRX had a volatile year in 2021 with prices ranging from $40.23 in March to $12.27 in December. The year started at $23.33 and ended and $13.5
| Date | Price | |
| December 31st, 2020 | $23.33 | |
| December 3rd, 2021 | $12.27 | |
| March 25th, 2021 | $40.23 | |
| December 31st, 2021 | $13.5 |
PLRX Stock Forecast: Price Target 2022
| Date | Price | ||
| Average Price Target 2022 | July 20th | $43.5 | |
| SVB Securities | July | $33 | |
| Royal Bank of India | July | $54 |
PLRX Stock Forecast: What’s Next for Pliant Therapeutics?
FDA Fast Track Designation: – The next big thing after clinical trials is FDA approval for the commercialization of the drug. Although, there are still steps before FDA approval, but as a good news, FDA fast track designation is received for PLN-74809. Fast track designation is meant to expedite and facilitate development and review of the new drugs. Through Fast Track designation, frequent meetings can be arranged with the FDA, to discuss the trial design and future development plans and data needed for drug approval.
EMA Orphan Drug Designation – PLN 74809 has received European Medicines Association (EMA) Orphan Drug registration which include trial design assistance, centralized EU approval process and exclusive market for the drug for next 10 years. As PLN-74809 is targeting a life threating disease and its clinical trials showed the relevant outcomes, it has received this designation from European Union. PLN-74809 received the same designation from United States Food and Drug Administration (FDA) in 2018.
PLRX Stock Forecast: Fundamental Analysis of Pliant Therapeutics
Oxford Finance Extends $100 million Loan Facility-
The most critical thing in pharmaceutical companies is the cash and cash equivalents, required to carry out the trials and receive approvals. The good news for Pliant Therapeutics is that they have received $100 million loan facility from Oxford finance for drug -74809. Out of this, Pliant has drawn only $10 million of an initial $25 million tranche and rest $15 million will be available through the end of the year. The company has also access to additional $75 million, which can be used till 2024. This loan facility will finance the required approvals and clinical trials procedures, which is very cash intensive and will help Pliant Therapeutics to sustain till the drug is available in the market.
PLRX Stock Forecast: First Quarter 2022 Financial Results
Company reported first quarter 2022-23 financial results on May 10, 2022. The main highlights include the increase in Research and Development expenses from $18.5 million to $20.9 million. The same is understandable due to ongoing clinical trials. Company also reported net loss of $28.1 million in the quarter compared to $22.9 million in the same quarter last year due to decrease in collaboration revenue. As of March 31, 2022, company had cash and cash equivalents and short term investments of $178.3 million which include loan facility from Oxford finance. Pliant is expected to finance the operations at least till mid-2024.
PLRX Stock Forecast: Conclusion
As stated in the beginning of the article, investment in the pharmaceutical companies is indeed a tricky one. For Pliant, company has taken all the right steps in the past couple of years for the drug PLN-74809. Add to it, the proactive approach to issue public offering and loan facility by Oxford finance to finance the requirements of the drug approval.
The financial results do not matter that much for a pharmaceutical company as long as the drug approval process is on track. FDA fast track approval and EU Orphan Drug designation are steps towards that direction. Investors should keep a watch on the ongoing process of clinical trials results and FDA approval for PLN- 74809 to make a decision of adding it in portfolio. It can be a risky yet worthy bet for aggressive investors.
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