Chinook Therapeutics, Inc. - KDNY STOCK NEWS

Chinook Therapeutics (Nasdaq: KDNY) announced an employment inducement grant of stock options for 150,000 shares to a new hire. The options have an exercise price of $12.90, equivalent to the stock's closing price on January 31, 2022. Vesting occurs over four years, with 25% on the start date and the remainder monthly. This grant adheres to Nasdaq's listing Rule 5635(c)(4). Chinook specializes in precision medicines for kidney diseases, with its lead program, atrasentan, currently in Phase 3 trials for IgA nephropathy.

Chinook Therapeutics (NASDAQ: KDNY) announced the appointment of Dr. Charlotte Jones-Burton as Senior Vice President of Product Development and Strategy. Her extensive background in nephrology and drug development is expected to enhance Chinook's efforts in advancing clinical trials for atrasentan and BION-1301, targeting IgA nephropathy, and the phase 1 trial of CHK-336 for primary hyperoxaluria. The company is focused on precision medicines for severe kidney diseases, leveraging innovative research to build its therapeutic pipeline.

Chinook Therapeutics, a biopharmaceutical company focused on kidney diseases, announced its participation in two upcoming virtual investor conferences. The H.C. Wainwright Bioconnect 2022 Conference features an on-demand fireside chat available from January 10 at 7:00 am EST, while the 40th Annual J.P. Morgan Healthcare Conference will include a presentation on January 12 at 1:30 pm EST. Additionally, Chinook will conduct 1x1 meetings. Archived webcasts of these events will be accessible for 30 days on the company's website.

Chinook Therapeutics, Inc. (Nasdaq: KDNY) announced that the European Commission granted orphan drug designation for atrasentan to treat primary IgA nephropathy (IgAN). This designation follows a favorable opinion from the EMA's Committee for Orphan Medicinal Products. Orphan drug status provides incentives such as market exclusivity and reduced fees, aiding the clinical development of atrasentan. The ongoing pivotal phase 3 ALIGN and phase 2 AFFINITY trials are enrolling patients to evaluate the drug's effectiveness in reducing proteinuria and combating kidney damage.

Chinook Therapeutics (Nasdaq: KDNY) announced a 50/50 joint venture with investor syndicate led by Frazier Healthcare Partners and Pivotal bioVenture Partners China to enhance its global reach for atrasentan and BION-1301 in the treatment of IgA nephropathy. The partnership grants SanReno exclusive rights to develop these therapies in China and surrounding regions, supported by a $40 million investment from the syndicate. Chinook retains rights outside this territory and will receive milestone payments and royalties based on product progress.

Chinook Therapeutics, a biopharmaceutical company focused on kidney diseases, will participate in two virtual investor conferences. The Piper Sandler 33rd Annual Virtual Healthcare Conference will have presentations available from November 22 to December 2, and a fireside chat at the 4th Annual Evercore ISI HealthCONx Conference is scheduled for November 30 at 4:45 pm EST. Additionally, 1x1 meetings will take place through Evercore ISI and Piper Sandler on November 30, December 1, and December 2. Archived webcasts will be accessible for 90 days on the company’s website.

Chinook Therapeutics (Nasdaq: KDNY) has completed an upsized public offering, selling 9,538,572 shares at $14.00 each, raising approximately $183.5 million in gross proceeds. The offering included the full exercise of the underwriters’ option to purchase an additional 1,710,000 shares and pre-funded warrants to acquire another 3,571,428 shares at $13.9999 each. Proceeds will support the phase 3 ALIGN trial for atrasentan in IgA nephropathy, phase 2 AFFINITY trial, and further development of other key therapeutics.

Chinook Therapeutics, Inc. (Nasdaq: KDNY) has priced its upsized public offering of 7,828,572 shares at $14.00 each, aiming for gross proceeds of $159.6 million before expenses. The offering includes pre-funded warrants for 3,571,428 shares at $13.9999 each. The proceeds will advance clinical trials for its lead product, atrasentan, and support development of other therapies. The deal is expected to close by November 15, 2021, pending standard conditions. SVB Leerink and Evercore ISI are the joint book-running managers.

Chinook Therapeutics (Nasdaq: KDNY) announced plans to offer 6,000,000 shares in a public offering, with a 30-day option for underwriters to purchase an additional 900,000 shares. Proceeds will fund the phase 3 ALIGN trial and phase 2 AFFINITY trial of atrasentan for kidney diseases, among other clinical development initiatives. SVB Leerink and Evercore ISI are the joint book-running managers. The offering follows a previously filed shelf registration statement. Completion is subject to market conditions.