ProKidney Decides To Prioritize PROACT 1; Plans To Discontinue PROACT 2, Which Was Focused On Enrollment Outside US; Now Expects Current Cash To Support Operating Plans Into Q1 2027
Portfolio Pulse from Benzinga Newsdesk
ProKidney is prioritizing its PROACT 1 trial and discontinuing PROACT 2, which was focused on non-U.S. enrollment. This decision is expected to extend their cash runway to Q1 2027 and reduce expenses by $150-$175 million. The company anticipates FDA approval for rilparencel through an expedited pathway.
September 03, 2024 | 11:39 am
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ProKidney is focusing on the PROACT 1 trial, discontinuing PROACT 2, which will extend their cash runway to Q1 2027 and reduce expenses by $150-$175 million. They expect FDA approval for rilparencel via an expedited pathway.
The decision to prioritize PROACT 1 and discontinue PROACT 2 is financially beneficial, extending cash runway and reducing expenses significantly. The potential for expedited FDA approval is a positive catalyst for the stock.
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