PLIANT THERAPEUTICS, INC.PLRX

PLIANT THERAPEUTICS, INC. Segments Disclosure

10-KFiled Mar 11, 20262 min read
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
20252024
Revenue$— $— 
Operating expenses:
Bexotegrast - clinical trial and outside service third party contracting costs42,410 86,365 
Employee-related expenses - research and development (excluding stock-based compensation) 31,551 35,489 
General and administrative costs (excluding stock-based compensation)30,963 35,537 
Other segment items51,449 70,974 
Segment loss156,373 228,365 
Reconciliation of segment loss
Interest and other (income) expense, net(11,416)(21,085)
Interest expense2,559 3,024 
Loss on extinguishment of debt1,828 — 
Net loss$149,344 $210,304 
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).
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Historical Timeline

Fiscal YearFiled
2025Mar 11, 2026Showing above
2024Mar 3, 2025

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.

Other Available Disclosures

Income TaxesEarnings Per SharePP&ELeasesDebtCommitmentsStock CompensationNew StandardsPay vs Performance