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Mar 31, 2024
ProKidney Q1 2024 Earnings Report
ProKidney reported business updates and financial results.
Key Takeaways
ProKidney ended the first quarter of 2024 with $329 million in cash and cash equivalents. The company is on schedule to resume manufacturing and PROACT 1 Phase 3 trial, commence PROACT 2 Phase 3 trial, and readout interim results from the ongoing REGEN-007 Phase 2 trial in mid-2024.
Final results from RMCL-002 Phase 2 trial to be presented at the European Renal Association (ERA) Congress on May 25, 2024.
The PROACT 1 Phase 3 study (REGEN-006) protocol amendment has been completed and was submitted to the FDA in late March.
Ulrich Ernst, Ph.D was appointed as Executive Vice President of Technical Operations.
Lucio Tozzi was appointed as Senior Vice President of Global Clinical Operations.
Forward Guidance
ProKidney expects that its existing cash, cash equivalents and marketable securities held on March 31, 2024, will enable them to fund operating expenses and capital expenditure requirements into the fourth quarter of 2025.
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