2024 Q1 Form 10-K Financial Statement

#000174647324000043 Filed on February 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $1.580M
YoY Change -100.0% -100.0% -83.69%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.25M $13.85M $57.93M
YoY Change 7.72% -2.79% 45.0%
% of Gross Profit
Research & Development $37.15M $33.18M $127.8M
YoY Change 26.9% 32.13% 31.84%
% of Gross Profit
Depreciation & Amortization $500.0K $464.0K $1.800M
YoY Change 0.0% 1.98% 0.0%
% of Gross Profit
Operating Expenses $52.39M $47.04M $185.7M
YoY Change 20.64% 19.49% 35.68%
Operating Profit -$52.39M -$184.1M
YoY Change 24.46% 44.77%
Interest Expense $445.0K $5.928M $1.267M
YoY Change 43.09% 153.33% -67.34%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$46.96M -$41.11M -$161.3M
YoY Change 25.05% 17.25% 30.82%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$46.96M -$41.11M -$161.3M
YoY Change 25.05% 17.25% 30.83%
Net Earnings / Revenue -10211.14%
Basic Earnings Per Share -$0.78 -$2.75
Diluted Earnings Per Share -$0.78 -$0.69 -$2.75
COMMON SHARES
Basic Shares Outstanding 60.24M shares 59.90M shares 58.72M shares
Diluted Shares Outstanding 60.18M shares 58.72M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $482.4M $494.2M $494.2M
YoY Change -16.44% 49.23% 49.23%
Cash & Equivalents $114.3M $63.23M $63.23M
Short-Term Investments $368.1M $431.0M $431.0M
Other Short-Term Assets $5.194M $8.260M $8.260M
YoY Change -15.63% 17.03% 17.03%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $2.997M $2.997M
Total Short-Term Assets $489.9M $505.5M $505.5M
YoY Change -16.72% 48.54% 48.54%
LONG-TERM ASSETS
Property, Plant & Equipment $5.605M $3.567M $4.778M
YoY Change 33.55% -20.49% -51.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $392.0K $392.0K $1.874M
YoY Change -39.13% -0.51% 375.63%
Total Long-Term Assets $31.71M $6.652M $6.652M
YoY Change 228.43% -35.43% -35.43%
TOTAL ASSETS
Total Short-Term Assets $489.9M $505.5M $505.5M
Total Long-Term Assets $31.71M $6.652M $6.652M
Total Assets $521.6M $512.2M $512.2M
YoY Change -12.76% 46.07% 46.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.327M $4.531M $4.531M
YoY Change 416.35% 186.77% 186.77%
Accrued Expenses $5.868M $10.22M $23.99M
YoY Change -73.0% -54.24% 7.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.39M $28.52M $28.52M
YoY Change 31.26% 19.28% 19.28%
LONG-TERM LIABILITIES
Long-Term Debt $30.00M $10.05M $10.05M
YoY Change 201.29% 1.26% 1.26%
Other Long-Term Liabilities $23.88M $0.00 $0.00
YoY Change 737.89% -100.0% -100.0%
Total Long-Term Liabilities $53.88M $10.05M $10.05M
YoY Change 320.69% -24.73% -24.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.39M $28.52M $28.52M
Total Long-Term Liabilities $53.88M $10.05M $10.05M
Total Liabilities $84.27M $38.58M $38.58M
YoY Change 134.35% 3.51% 3.51%
SHAREHOLDERS EQUITY
Retained Earnings -$546.7M -$499.7M
YoY Change 45.42% 47.67%
Common Stock $984.5M $973.0M
YoY Change 4.82% 48.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $437.3M $473.6M $473.6M
YoY Change
Total Liabilities & Shareholders Equity $521.6M $512.2M $512.2M
YoY Change -12.76% 46.07% 46.07%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$46.96M -$41.11M -$161.3M
YoY Change 25.05% 17.25% 30.83%
Depreciation, Depletion And Amortization $500.0K $464.0K $1.800M
YoY Change 0.0% 1.98% 0.0%
Cash From Operating Activities -$30.27M -$25.10M -$116.4M
YoY Change -0.02% -19.65% 22.96%
INVESTING ACTIVITIES
Capital Expenditures $1.492M $61.00K $921.0K
YoY Change 815.34% -63.25% -47.67%
Acquisitions
YoY Change
Other Investing Activities $61.04M $31.98M -$126.1M
YoY Change -135.07% 58.42% -15.06%
Cash From Investing Activities $59.55M $31.92M -$127.0M
YoY Change -134.18% 59.43% -15.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $21.79M 219.0K $274.4M
YoY Change -92.03% -22.89% 20.96%
NET CHANGE
Cash From Operating Activities -$30.27M -25.10M -$116.4M
Cash From Investing Activities $59.55M 31.92M -$127.0M
Cash From Financing Activities $21.79M 219.0K $274.4M
Net Change In Cash $51.06M 7.038M $31.03M
YoY Change -25.83% -164.37% -272.58%
FREE CASH FLOW
Cash From Operating Activities -$30.27M -$25.10M -$116.4M
Capital Expenditures $1.492M $61.00K $921.0K
Free Cash Flow -$31.76M -$25.16M -$117.3M
YoY Change 4.35% -19.88% 21.67%

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PaymentsToAcquireShortTermInvestments
583069000 usd
CY2022 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
325716000 usd
CY2023 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
456978000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1953000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-150204000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
73699000 usd
CY2023 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
270251000 usd
CY2022 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
216201000 usd
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 usd
CY2023 plrx Proceeds From Issuances Of Common Stock Under Benefit Plans
ProceedsFromIssuancesOfCommonStockUnderBenefitPlans
5001000 usd
CY2022 plrx Proceeds From Issuances Of Common Stock Under Benefit Plans
ProceedsFromIssuancesOfCommonStockUnderBenefitPlans
1360000 usd
CY2021 plrx Proceeds From Issuances Of Common Stock Under Benefit Plans
ProceedsFromIssuancesOfCommonStockUnderBenefitPlans
2984000 usd
CY2023 plrx Payments Of Deferred Offering Costs
PaymentsOfDeferredOfferingCosts
847000 usd
CY2022 plrx Payments Of Deferred Offering Costs
PaymentsOfDeferredOfferingCosts
557000 usd
CY2021 plrx Payments Of Deferred Offering Costs
PaymentsOfDeferredOfferingCosts
457000 usd
CY2023 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
150000 usd
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2023 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 usd
CY2022 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
10000000 usd
CY2021 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
274405000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
226854000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2527000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
31032000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17981000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
783000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51665000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50882000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
64716000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33684000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51665000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
1149000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
615000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023Q4 plrx Cash And Cash Equivalents At Carrying Value Rounded
CashAndCashEquivalentsAtCarryingValueRounded
63234000 usd
CY2022Q4 plrx Cash And Cash Equivalents At Carrying Value Rounded
CashAndCashEquivalentsAtCarryingValueRounded
33684000 usd
CY2021Q4 plrx Cash And Cash Equivalents At Carrying Value Rounded
CashAndCashEquivalentsAtCarryingValueRounded
51665000 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
1482000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
0 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
0 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
64716000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33684000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51665000 usd
CY2023 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
2303000 usd
CY2022 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-1757000 usd
CY2021 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-169000 usd
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
57000 usd
CY2023 plrx Reclassification Of Restricted Stock Awards From Liabilities To Common Stock Upon Vesting
ReclassificationOfRestrictedStockAwardsFromLiabilitiesToCommonStockUponVesting
0 usd
CY2022 plrx Reclassification Of Restricted Stock Awards From Liabilities To Common Stock Upon Vesting
ReclassificationOfRestrictedStockAwardsFromLiabilitiesToCommonStockUponVesting
2000 usd
CY2021 plrx Reclassification Of Restricted Stock Awards From Liabilities To Common Stock Upon Vesting
ReclassificationOfRestrictedStockAwardsFromLiabilitiesToCommonStockUponVesting
9000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
3846000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
2657000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
2400000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
950000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2023 plrx Decrease In Right Of Use Assets And Liabilities From Lease Modifications
DecreaseInRightOfUseAssetsAndLiabilitiesFromLeaseModifications
1821000 usd
CY2022 plrx Decrease In Right Of Use Assets And Liabilities From Lease Modifications
DecreaseInRightOfUseAssetsAndLiabilitiesFromLeaseModifications
0 usd
CY2021 plrx Decrease In Right Of Use Assets And Liabilities From Lease Modifications
DecreaseInRightOfUseAssetsAndLiabilitiesFromLeaseModifications
0 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and expenses as well as the disclosure of contingent assets and liabilities in the financial statements and accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, accruals for research and development costs, fair value of assets, stock-based compensation, income taxes and uncertain tax positions. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances, however, actual results may differ from those estimates.</span></div>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk and Other Risks and Uncertainties</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents, short-term investments and accounts receivable. The Company invests in money market funds, U.S. Treasury securities, government notes and corporate debt securities. The Company limits its credit risk associated with its cash and cash equivalents by placing them with banks and institutions it believes are highly credit worthy and in highly rated investments. However, the Company had deposits in excess of the Federal Deposit Insurance Corporation (“FDIC”) </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">insured limit of $250,000. The Company performs credit evaluations of its customer, and the risk with respect to accounts receivable is further mitigated by the short duration of customer payment terms, generally within 60 days, and the pedigree of the customer base. During the years ended December 31, 2023, 2022 and 2021, Novartis accounted for 100% of the Company’s revenue and accounts receivable.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s future results of operations involve several other risks and uncertainties. Factors that could affect the Company’s future operating results and cause actual results to vary materially from expectations include, but are not limited to, uncertainty of results of clinical trials and reaching milestones, uncertainty of regulatory approval of the Company’s product candidates, uncertainty of market acceptance of the Company’s product candidates, competition from substitute products, including those that may be developed or marketed by larger companies, securing and protecting intellectual property, strategic relationships and dependence on key individuals and sole source suppliers.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s product candidates require approvals from the U.S. Food and Drug Administration (“FDA”) and comparable foreign regulatory agencies prior to commercial sales in their respective jurisdictions. There can be no assurance that any product candidates will receive the necessary approvals. If the Company was denied approval, approval was delayed or the Company was unable to maintain approval for any product candidate, it could have a materially adverse impact on the Company.</span></div>
CY2023 plrx Percentage Of Revenue Contributed By Related Party
PercentageOfRevenueContributedByRelatedParty
1
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q4 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
1400000 usd
CY2023 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
487907000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
488252000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
327771000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
45000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2003000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
325813000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
487907000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
822000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
477000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
488252000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
327771000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
45000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2003000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
325813000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12249000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11327000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8682000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6841000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3567000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4486000 usd
CY2023 us-gaap Depreciation
Depreciation
1800000 usd
CY2022 us-gaap Depreciation
Depreciation
1800000 usd
CY2021 us-gaap Depreciation
Depreciation
1500000 usd
CY2023Q4 plrx Prepaid Research And Development Current
PrepaidResearchAndDevelopmentCurrent
3403000 usd
CY2022Q4 plrx Prepaid Research And Development Current
PrepaidResearchAndDevelopmentCurrent
3421000 usd
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1131000 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1427000 usd
CY2023Q4 plrx Prepaid Licenses Current
PrepaidLicensesCurrent
2454000 usd
CY2022Q4 plrx Prepaid Licenses Current
PrepaidLicensesCurrent
959000 usd
CY2023Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
2997000 usd
CY2022Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
1078000 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
1272000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
173000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11257000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7058000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-161300000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9042000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7200000 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1177000 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1458000 usd
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
10219000 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
8658000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
5455000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
4545000 usd
CY2023Q4 plrx Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
0 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
10000000 usd
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
106000 usd
CY2023Q4 plrx Long Term Debt Accretion Of Final Payment
LongTermDebtAccretionOfFinalPayment
160000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
10054000 usd
CY2023Q4 plrx Number Of Classes Of Stock Authorized
NumberOfClassesOfStockAuthorized
2 class
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 plrx Number Of Votes Per Share Of Common Stock
NumberOfVotesPerShareOfCommonStock
1 research
CY2023 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
CY2023 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
12544982 shares
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
11435241 shares
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-123300000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
1350000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
1706000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
44483000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22598000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10437000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-97300000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q4 plrx Valuation Allowance As Percentage On Deferred Tax Assets
ValuationAllowanceAsPercentageOnDeferredTaxAssets
1
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.067
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.073
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.077
CY2023 plrx Effective Income Tax Rate Reconciliation General Business Tax Credits Federal
EffectiveIncomeTaxRateReconciliationGeneralBusinessTaxCreditsFederal
0.053
CY2022 plrx Effective Income Tax Rate Reconciliation General Business Tax Credits Federal
EffectiveIncomeTaxRateReconciliationGeneralBusinessTaxCreditsFederal
0.036
CY2021 plrx Effective Income Tax Rate Reconciliation General Business Tax Credits Federal
EffectiveIncomeTaxRateReconciliationGeneralBusinessTaxCreditsFederal
0.053
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.009
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.010
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.007
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements Other
EffectiveIncomeTaxRateReconciliationTaxSettlementsOther
0.001
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements Other
EffectiveIncomeTaxRateReconciliationTaxSettlementsOther
-0.004
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements Other
EffectiveIncomeTaxRateReconciliationTaxSettlementsOther
-0.001
CY2023 plrx Effective Income Tax Rate Reconciliation Nondeductible Executive Compensation Section162m Limitation
EffectiveIncomeTaxRateReconciliationNondeductibleExecutiveCompensationSection162mLimitation
-0.038
CY2022 plrx Effective Income Tax Rate Reconciliation Nondeductible Executive Compensation Section162m Limitation
EffectiveIncomeTaxRateReconciliationNondeductibleExecutiveCompensationSection162mLimitation
0
CY2021 plrx Effective Income Tax Rate Reconciliation Nondeductible Executive Compensation Section162m Limitation
EffectiveIncomeTaxRateReconciliationNondeductibleExecutiveCompensationSection162mLimitation
0
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.302
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.305
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.332
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
78452000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
65689000 usd
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
29559000 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
19688000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
2211000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
387000 usd
CY2023Q4 plrx Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
34769000 usd
CY2022Q4 plrx Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
13900000 usd
CY2023Q4 plrx Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
369000 usd
CY2022Q4 plrx Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
1638000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
8291000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
5073000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
155001000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
108081000 usd
CY2023Q4 plrx Deferred Tax Liabilities Fixed Asset Basis
DeferredTaxLiabilitiesFixedAssetBasis
123000 usd
CY2022Q4 plrx Deferred Tax Liabilities Fixed Asset Basis
DeferredTaxLiabilitiesFixedAssetBasis
258000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
598000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
630000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
339000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
1509000 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1060000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
2397000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
153941000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
105684000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
105684000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
67684000 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
48257000 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
38000000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
153941000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
105684000 usd
CY2023 plrx Income Tax Examination Number Of Examinations Pending
IncomeTaxExaminationNumberOfExaminationsPending
0 taxexamination
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5196000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3505000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2475000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1547000 usd
CY2023 plrx Unrecognized Tax Benefits Increases Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesDecreasesResultingFromPriorPeriodTaxPositions
303000 usd
CY2022 plrx Unrecognized Tax Benefits Increases Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesDecreasesResultingFromPriorPeriodTaxPositions
144000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7974000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5196000 usd
CY2023 plrx Contractual Arrangements Cancellation Period
ContractualArrangementsCancellationPeriod
P30D
CY2023 plrx Decrease In Right Of Use Assets And Liabilities From Lease Modifications
DecreaseInRightOfUseAssetsAndLiabilitiesFromLeaseModifications
1800000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1382000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1382000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
64000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1318000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y7M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1360
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.082
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
2771000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
2501000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
2300000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
766000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
721000 usd
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
949000 usd
CY2023 us-gaap Lease Cost
LeaseCost
3537000 usd
CY2022 us-gaap Lease Cost
LeaseCost
3222000 usd
CY2021 us-gaap Lease Cost
LeaseCost
3249000 usd
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0 usd
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1000000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
800000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
600000 usd
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8156985 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6432024 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3642021 shares
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0001746473-24-000043-index-headers.html Edgar Link pending
0001746473-24-000043-index.html Edgar Link pending
0001746473-24-000043.txt Edgar Link pending
0001746473-24-000043-xbrl.zip Edgar Link pending
exhibit1017non-employeedir.htm Edgar Link pending
exhibit231auditorsconsent.htm Edgar Link pending
exhibit311ceocertification.htm Edgar Link pending
exhibit312cfocertification.htm Edgar Link pending
exhibit321ceoandcfocertifi.htm Edgar Link pending
exhibit97clawbackpolicy.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
plrx-20231231.htm Edgar Link pending
plrx-20231231.xsd Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable