Segment

The Company operates and manages its business as one reportable and operating segment, which is the business of developing and commercializing novel therapies for patients. The CODM reviews financial information on an aggregate basis for allocating and evaluating financial performance. The Company defines its segments based on the way in which internally reported financial information is regularly reviewed by the CODM to analyze financial performance, make decisions, and allocate resources. The CODM assesses performance for the segment and decides how to allocate resources based on net loss which is also reported on the Statement of Operations and Comprehensive Loss as consolidated net loss.

All long-lived assets are maintained in the United States of America.

Our CODM is regularly provided with more detailed expense information than what is included in our Statement of Operations and Comprehensive Loss. The table below shows a reconciliation of the Company’s net loss, including the significant expense categories regularly provided to and reviewed by the CODM, as computed under U.S. GAAP to the Company’s total net loss in the statements of operations (in thousands)


	Year Ended
	2024		2023		2022
Revenue	$	—	$	1,580	$	9,685
Operating expenses:
Bexotegrast - clinical trial and outside service third party contracting costs	86,365		51,446		29,890
Employee-related expenses - research and development (excluding stock-based compensation)	35,489		28,685		21,727
General and administrative costs (excluding stock-based compensation)	35,537		31,418		26,082
Other segment items	70,974		74,176		59,186
Segment loss	228,365		184,145		127,200
Reconciliation of segment loss
Interest and other (income) expense, net	(21,085)		(24,076)		(4,670)
Interest expense	3,024		1,267		791
Net loss	$	210,304	$	161,336	$	123,321

Other segment items include total stock-based compensation and research and development costs related to other pipeline programs and other non-program costs (excluding employee-related expenses).

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

PLIANT THERAPEUTICS, INC. Segments Disclosure

About Segments Disclosures

Other Available Disclosures