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Jun 30, 2024
ProKidney Q2 2024 Earnings Report
Reported business updates and financial results for the second quarter ended June 30, 2024
Key Takeaways
ProKidney reported positive interim REGEN-007 data, restarted manufacturing, resumed PROACT 1 and PROACT 2 Phase 3 trials, and closed a $140 million equity offering. The company ended the quarter with $431.5 million in cash and cash equivalents and marketable securities.
Reported interim REGEN-007 data demonstrating rilparencel’s potential to preserve kidney function in patients with diabetes and advanced CKD
Restarted manufacturing and resumed PROACT 1 and PROACT 2 Phase 3 trials
Closed $140 million upsized underwritten public offering and concurrent registered direct offering
Ended the second quarter with $431.5 million in cash and cash equivalents and marketable securities, supporting operations through projected Phase 3 enrollment completion in mid-2026
ProKidney
ProKidney
Forward Guidance
ProKidney expects that its existing cash, cash equivalents and marketable securities held on June 30, 2024, will enable it to fund its operating expenses and capital expenditure requirements into mid-2026.