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ProKidney Corp (Nasdaq: PROK) is a leading clinical-stage biotechnology company revolutionizing the treatment of chronic kidney disease (CKD) through its innovative cellular therapy platform. Founded in 2015 after a decade of comprehensive research, ProKidney remains at the forefront of medical advancements aimed at tackling CKD.
The company's flagship product, REACT™ (Renal Autologous Cell Therapy), is a groundbreaking, patented autologous cellular therapy designed to modify the progression of CKD. By utilizing a patient’s own renal cells, REACT™ not only aims to slow and stabilize the disease but also has the potential to significantly improve kidney function in cases reaching stages 3b to 4. This innovative approach has garnered significant attention, earning REACT™ the FDA's Regenerative Medicine Advanced Therapy (RMAT) designation and support from both the FDA and EMA for its ongoing Phase 3 clinical trials, which commenced in January 2022.
ProKidney's financial resilience is notable, with nearly $400 million in cash, cash equivalents, and marketable securities as of September 30, 2023. This solid financial foundation is expected to support the company's operations and clinical development initiatives through the fourth quarter of 2025.
Recent milestones include the successful initiation of Phase 3 clinical trials and promising interim data from the Phase 2 REGEN-007 trial, which highlighted REACT™’s potential to preserve kidney function in patients with diabetes-induced CKD. These advancements underscore ProKidney’s commitment to addressing the unmet needs of high-risk CKD patients who face limited treatment options beyond dialysis or transplantation.
The company’s robust pipeline also includes developmental programs targeting severe diabetic kidney disease, reinforcing its leadership position in the biotechnology sector. ProKidney’s strategic partnerships and collaborations, coupled with a dedicated team of experts, continue to drive its mission of bringing life-changing therapies to those affected by chronic kidney disease.
For more information, visit www.prokidney.com.
ProKidney Corp. (Nasdaq: PROK) announced its fourth quarter 2022 financial results, reporting a net loss of $24.6 million, compared to $13.7 million in Q4 2021. The company has made significant strides in clinical development, particularly in its REACT® trials for chronic kidney disease, with key milestones anticipated in 2023. Their cash position stands at $490.3 million, bolstered by a PIPE financing that raised over $500 million. R&D expenses rose to $20.9 million, driven by intensified clinical activities. G&A expenses also increased to $9.3 million, influenced by public company costs. The company expects to fund operations through 2024, aiming for topline data from proact1.
ProKidney Corp. (Nasdaq: PROK), a leader in cellular therapeutics for chronic kidney disease (CKD), announced that CEO Dr. Tim Bertram will present at TD Cowen’s 43rd Annual Health Care Conference on March 7, 2023, at 10:30 AM EST. Investors can access the live webcast on ProKidney’s investor relations site. The company’s groundbreaking product, REACT™, is a patented therapy aimed at treating late-stage CKD, having received Regenerative Medicine Advanced Therapy designation and FDA guidance. ProKidney, founded in 2015, highlights the critical need for effective CKD treatments, given the high mortality rates associated with late-stage CKD.
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