NEWS ER
ProKidney Reports Third Quarter 2024 Financial Results along with Regulatory and Clinical Development Updates Following Successful FDA Type B Meeting
Positive
FDA confirmation that PROACT 1 Phase 3 study could be sufficient for full regulatory approval
FDA confirmation that PROACT 1 Phase 3 study could be sufficient for full regulatory approval
Accelerated approval pathway available with eGFR slope as surrogate endpoint
Strong cash position of $406.8 million, supporting operations into 2027
Reduced R&D expenses by $0.9 million year-over-year
Slight improvement in net loss to $41.1 million from $42.0 million YoY
Negative
Increased G&A expenses by $3.3 million year-over-year
$5.3 million non-cash impairment charge related to Greensboro facility
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