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Jun 30, 2022
ProKidney Q2 2022 Earnings Report
ProKidney LP's financial results for Q2 2022 were announced, along with a business update, highlighting the completion of a business combination with Social Capital Suvretta Holdings, III.
Key Takeaways
ProKidney reported its financial results for the second quarter ended June 30, 2022. The company completed its business combination with Social Capital Suvretta Holdings, III, receiving gross proceeds of $596.5 million. Research and development expenses were $11.6 million, while general and administrative expenses were $9.2 million. The company's cash and cash equivalents totaled $21.9 million as of June 30, 2022.
Completed business combination with Social Capital Suvretta Holdings, III.
Received gross proceeds of $596.5 million from the business combination.
Continued enrollment in the U.S. Phase 3 study (REGEN-006) to assess the efficacy of REACT™ injections.
Expanded target enrollment for REGEN-007 from 30 subjects to up to 50 subjects.