** Shares of drug developer Pliant Therapeutics PLRX.O hit their lowest level on record at $1.59
** The company discontinues a mid-stage trial of its experimental drug bexotegrast in patients with a type of lung disease called idiopathic pulmonary fibrosis
** PLRX says the drug trial was stopped due to reports of IPF-related adverse events
** Idiopathic pulmonary fibrosis is a chronic lung disease that causes scarring and stiffening of the organ's tissue
** PLRX paused enrollment of patients in the mid-stage trial in early February, on the recommendation of an independent data safety monitoring board
** It plans to analyze complete trial data and evaluate next steps for bexotegrast's development, including additional studies testing lower doses in IPF
** The stock is down 79.3% in the past 12 months
(Reporting by Padmanabhan Ananthan)
((Padmanabhan.Ananthan@thomsonreuters.com;))
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