Herald morning quiz: December 7

Test your brains with the Herald’s morning quiz. Be sure to check back on nzherald.co.nz at 3pm for the afternoon quiz.

IPO Lockup Expiration Alert: Pliant Therapeutics (PLRX)

The lockup period of Pliant Therapeutics Inc. (PLRX) ends today, i.e. on November 30, 2020.

Pliant is a clinical-stage biopharmaceutical company, with two lead assets namely PLN-74809 and PLN-1474.

1. PLN-74809 is under the following clinical trials:

— A 12-week phase IIa trial of PLN-74809 in idiopathic pulmonary fibrosis.
— A phase IIa trial of PLN-74809 using PET imaging in idiopathic pulmonary fibrosis. The preliminary data from this trial is expected by the first half of 2021.
— A 12-week phase IIa trial of PLN-74809 in primary sclerosing cholangitis.
— A phase IIa trial of PLN-74809 in patients hospitalized with severe and critical COVID-19.

2. PLN-1474

PLN-1474 is being developed for the treatment of liver fibrosis associated with nonalcoholic steatohepatitis, or NASH. This compound is being developed in partnership with Novartis (NVS).

— A phase 1 trial of PLN-1474 in healthy volunteers is nearing completion. The topline data from the phase I trial is expected by the first quarter of 2021.

The company made its debut on The Nasdaq Global Select Market on June 3, 2020, offering its shares at a price of $16 each.

As mentioned above, the 180 day lockup period expires today.

PLRX opened the first day of trading (i.e. June 3, 2020) at $25 and closed at $21.30 that day. The stock has thus far hit a low of $19.42 and a high of $35.63.

PLRX closed Friday’s trading at $32.99, up 10.82%.

Brexit Talks Resume As Diplomats See Solution on Fish in Sight

Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast.

Brexit negotiations resumed in Brussels with signs that one of the biggest obstacles to a deal is being resolved.

With the U.K. and European Union striving to finalize a deal before Monday evening, a political compromise on the longstanding stumbling bloc of fisheries is starting to emerge, two people with knowledge of the discussion on both sides said.

That leaves the issue of the so-called level playing field for fair competition as the main outstanding hurdle. The EU wants to bind the U.K. to some rules on subsidies and labor and environmental standards so that businesses don’t have an unfair advantage.

Prime Minister Boris Johnson and European Commission President Ursula von der Leyen will hold a telephone call on Monday evening, by which time the two sides want to be in a position to say there’s a deal or take the decision that it’s beyond reach.

However, the EU diplomat said expectations were low for an agreement within 24 hours.

The U.K. will leave the European single market and customs union on Dec. 31 with or without an agreement, but before then any agreement would have to be ratified in parliaments on both sides.

The EU has said that a summit of its 27 leaders that begins on Thursday is now an effective deadline.

Zalando Co-CEO Rubin Ritter to Step Down in 2021

Zalando SE’s co-chief executive officer Rubin Ritter will step down at or around the time of the online fashion platform’s next annual general meeting in 2021.

The company’s supervisory board will work with Ritter to dissolve his contract, which was supposed to run until November 2023, the company said in a statement Sunday.

“I want to devote more time to my growing family. My wife and I have agreed that for the coming years, her professional ambitions should take priority. And regarding my own future, I am eager to allow myself time to explore new interests beyond Zalando,” Ritter said.

Zalando founders Robert Gentz and David Schneider will continue to lead the company as co-CEOs.

Zalando’s Cyber Week Sales Beat Last Year by More Than a Third

Chile earthquake: Huge 6.0 magnitude quake strikes coast of northern Chile

We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.

An earthquake of magnitude 6 struck near the coast of northern Chile, the GFZ German Research Center for Geosciences said on Sunday.

The quake was at a depth of 105 km (65 miles), it said.

Mohammed bin Zayed Al Nahyan, the Mideast Peacemaker

LISTEN TO ARTICLE

SHARE THIS ARTICLE

The decision by the United Arab Emirates’ de facto leader could prove to be the most consequential diplomatic breakthrough in the Middle East in a generation. MBZ, as he’s widely known, has pursued an aggressive foreign policy, deploying military power (participating in wars in Yemen and Libya) and engaging in economic activity (investing in ports along the Red Sea and the Horn of Africa) to allow his tiny country to play an outsize role in regional and international affairs. Although the agreement with Israel has no timeline, it swiftly made MBZ a pioneer: Bahrain and Sudan followed the UAE’s example, and other Muslim states are said to be contemplating it, eager to get their hands on Israeli technology and military supplies and add partners to an alliance against Iran—not to mention scoring points with Washington. Their enthusiasm could grow as the economic fruits of diplomacy become evident; the agreement between the UAE and Israel is expected to lead to bilateral trade of $2 billion a year, eventually rising to $6.5 billion, according to Israel’s finance ministry.