The stock will trade on PROACT 1 enrollment completion and the Q2 2027 topline readout timeline, not on quarterly financials. Monitor for any updates on the confirmatory full enrollment (~470 patients) expected in H2 2026 and any regulatory interactions that could derisk the accelerated approval pathway.
Price Chart
Executive Summary
ProKidney reported Q2 2026 results with no revenue or EPS surprises vs consensus, as the company remains a pre-commercial clinical-stage biotech. The key catalyst is the completion of enrollment for the PROACT 1 accelerated approval analysis (~320 patients), positioning the company for pivotal eGFR slope topline results in Q2 2027. Cash burn continues with $181.6M in cash supporting operations into mid-2027, and the net loss widened to $46.4M from $37.0M YoY.
Key Financial Metrics
Key Facts
- Completed enrollment of ~320 patients for the PROACT 1 accelerated approval efficacy analysis; pivotal topline results expected Q2 2027
- Cash, cash equivalents and marketable securities totaled $181.6M as of June 30, 2026, down from $224.9M at March 31, 2026
- Net loss before noncontrolling interest was $46.4M for Q2 2026 vs $37.0M for Q2 2025
- R&D expenses increased to $36.1M from $25.9M YoY, driven by PROACT 1 clinical costs
- Appointed Kenneth Locke as Chief Technical Officer in June 2026
Financial Impact
No revenue or EPS surprise; cash burn of ~$43M per quarter; cash runway into mid-2027
Risk Factors
- Clinical trial failure or negative eGFR slope results in Q2 2027
- Cash runway only into mid-2027, requiring future dilutive financing
- Regulatory risk: FDA may require additional studies before BLA acceptance
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-342397 |
| Document: prok-20260810.htm | 0001193125-26-342397 |
| Document: 0001193125-26-342397-index-headers.html | 0001193125-26-342397 |
| Document: 0001193125-26-342397-index.html | 0001193125-26-342397 |
| Document: 0001193125-26-342397.txt | 0001193125-26-342397 |
| 8-K Data (Synthetic) | 0001193125-26-342397 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | 8-K | $1.61 $1.85 | ▲ +14.91% | ▲ +15.97% | $1.72 (+6.83%) |
Aug 10, 2026 7w ago | Press Release | $1.61 $1.85 | ▲ +14.91% | ▲ +15.97% | $1.72 (+6.83%) |
May 15, 2026 20w ago | 8-K | $1.66 $1.67 | ▲ +0.60% | ▼ −1.52% | $1.72 (+3.61%) |
May 15, 2026 20w ago | Press Release | $1.66 $1.67 | ▲ +0.60% | ▼ −1.52% | $1.72 (+3.61%) |
Apr 17, 2026 24w ago | DEFA14A | $2.10 $1.61 | ▼ −23.33% | ▼ −27.54% | $1.72 (−18.10%) |
Mar 18, 2026 28w ago | Press Release | $1.95 $2.18 | ▲ +11.79% | ▲ +4.17% | $1.72 (−11.79%) |
US Market Status
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