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Chinook Therapeutics, Inc. (NASDAQ: KDNY) is a clinical-stage biotechnology company focused on developing precision medicines specifically for kidney diseases. Kidney diseases pose a significant and growing health challenge globally, often requiring costly treatments like dialysis and transplantation. Chinook is at the forefront of addressing this need through advanced understanding of disease biology and cutting-edge translational platforms.
The company’s lead product candidates include atrasentan, a phase 3 endothelin receptor antagonist aimed at treating IgA nephropathy and proteinuric glomerular diseases, and zigakibart (BION-1301), an anti-APRIL monoclonal antibody undergoing a phase 1/2 trial for IgA nephropathy. Additionally, CHK-336, an oral small molecule LDHA inhibitor, is being developed for hyperoxalurias and other kidney stone disorders, currently in phase 1 trials.
Recent achievements highlight their commitment to innovation. Data from the phase 1 study of CHK-336 demonstrated hepatic LDH target engagement and decreased oxalate production, albeit with ongoing investigations into observed serious adverse events. The initiation of the phase 3 BEYOND study for zigakibart marks another milestone in providing new treatment options for patients with IgAN, reinforcing the potential of their therapies to modify disease progression.
Chinook’s approach leverages data from comprehensive kidney single-cell RNA sequencing and large chronic kidney disease (CKD) patient cohorts to identify key therapeutic targets. This strategy enables them to build a robust pipeline of precision medicines for rare and severe kidney diseases. Their research benefits from rich clinical data and patient samples, providing insights that drive the development of their innovative drug candidates.
Financially, Chinook remains focused on advancing its clinical programs while exploring strategic collaborations and partnerships to bolster its development efforts. Their strong scientific foundation and strategic focus positions them as a leader in the field of kidney disease therapeutics.
For more detailed updates and ongoing news, visit their official website at www.chinooktx.com.
Chinook Therapeutics, Inc. (Nasdaq: KDNY) announced the approval of employment inducement grants for five new employees. The grants consist of stock options for 28,957 shares and restricted stock units for 14,478 shares, effective January 31, 2023. Additionally, an Option Inducement Grant was approved for one employee, encompassing stock options for 28,900 shares, with a grant date of January 5, 2023. The exercise prices for the options are $24.50 and $25.27, based on stock closing prices on their respective grant dates. These options will vest over four years, incentivizing long-term employment. This move aligns with Nasdaq Rule 5635(c)(4).
Chinook Therapeutics (Nasdaq: KDNY) has announced its participation in the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 11:15 am EST in San Francisco, CA. The company will present its advancements in developing precision medicines for kidney diseases.
The presentation will be accessible via an audio webcast, with an archived version available for 30 days on the company’s website. Chinook is focused on clinical-stage therapies for severe kidney disorders, including its lead program, atrasentan, for IgA nephropathy.
Chinook Therapeutics, Inc. (Nasdaq: KDNY) announced participation in upcoming investor conferences, featuring fireside chats with management. The events include the 5th Annual Evercore ISI HealthCONx Conference on November 29 at 10:30 am EST and the Piper Sandler 34th Annual Healthcare Conference on December 1 at 12:00 pm EST. Audio webcasts and recordings will be accessible on Chinook's website, available for replay for 90 days. Chinook focuses on developing precision medicines for kidney diseases, with lead programs targeting IgA nephropathy and related disorders.
Chinook Therapeutics (Nasdaq: KDNY) reported a net loss of $56.0 million for Q3 2022, with revenues reaching $2.5 million, a significant increase from $0.1 million in Q3 2021. The company’s cash position improved to $397.7 million, up from $355.1 million at year-end 2021. Chinook is advancing its clinical pipeline, especially for IgA nephropathy, with promising data for its drugs atrasentan and BION-1301. Atrasentan is in a phase 3 trial, with topline data expected in Q3 2023. Despite increased expenses totaling $42.0 million for R&D, the company anticipates accelerated growth in its precision medicine portfolio.
Chinook Therapeutics (KDNY) presented promising results from its BION-1301 program at ASN Kidney Week 2022, highlighting consistent proteinuria reductions in patients with IgA nephropathy (IgAN) across Cohorts 1 and 2. Cohort 1 showed mean reductions of proteinuria by 66.9% at 52 weeks, while Cohort 2 demonstrated reductions of 28.7% at 12 weeks and 53.8% at 24 weeks. Importantly, BION-1301 was well-tolerated without serious adverse events. Additionally, preclinical results for CHK-336 were showcased, demonstrating efficacy against primary hyperoxaluria, signaling progress in Chinook's kidney disease pipeline.
Chinook Therapeutics, Inc. (Nasdaq: KDNY) announced promising interim results from its phase 2 AFFINITY trial focused on atrasentan for treating IgA nephropathy (IgAN). The study showed significant proteinuria reductions of 38.1%, 48.3%, and 54.7% at 6, 12, and 24 weeks, respectively, with no serious treatment-related adverse events reported. Atrasentan's benefits appear not to result from hemodynamic changes. Additionally, ongoing phase 3 ALIGN trial results are anticipated in 2023, raising investor expectations.
Chinook Therapeutics, Inc. (Nasdaq: KDNY) announced participation in upcoming investor conferences. The company will present at the Credit Suisse 31st Annual Healthcare Conference on November 9 at 1:25 PM EST and hold a fireside chat at the Stifel Healthcare Conference 2022 on November 15 at 3:35 PM EST. Interested investors can access the audio webcasts and recordings on the company’s website for up to 90 days after the events. Chinook focuses on precision medicines for kidney diseases, highlighting its leading programs including atrasentan and BION-1301.
Chinook Therapeutics (Nasdaq: KDNY) announced nine abstracts will be presented at ASN Kidney Week 2022 in Orlando, Florida, from November 3-6, 2022. Key highlights include updated interim data from the phase 2 AFFINITY basket trial of atrasentan for IgA nephropathy and findings from the BION-1301 phase 1/2 study. Chinook will host a live conference call on November 4, 2022, at 6:30 pm EDT to discuss these developments with experts in nephrology. The focus is on advancing precision medicine for kidney diseases.
Chinook Therapeutics (Nasdaq: KDNY) announced its upcoming participation in two major investor conferences. The company will host a fireside chat at the 2022 Wells Fargo Healthcare Conference on September 8 at 1:20 pm EDT. Additionally, Chinook will present at the Morgan Stanley 20th Annual Global Healthcare Conference on September 12 at 4:50 pm EDT. Audio webcasts of these presentations will be accessible on Chinook's website for 90 days after the events. Chinook focuses on precision medicines for kidney diseases, particularly rare and severe conditions.
Chinook Therapeutics (Nasdaq: KDNY) reported a net loss of $37.6 million for Q2 2022, improving from $42.6 million in Q2 2021. Revenue increased to $0.4 million for the quarter, up from less than $0.1 million a year earlier, due to a licensing agreement with SanReno. The company is advancing its clinical pipeline, notably enrolling patients in the phase 3 ALIGN trial for atrasentan and planning for a phase 3 study for BION-1301 in 2023. Cash and equivalents totaled $405.2 million as of June 30, 2022.
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