Chinook falls after Muddy Waters' short position, Ionis collab

Chinook Therapeutics

16/05/2023 15:34

(Updates)
    ** Shares of kidney disease-focused biopharma Chinook
Therapeutics Inc  KDNY.O  down 4.8% at $22.28 
    ** Shortseller Muddy Waters says it has taken short position
in KDNY 
    ** "It is highly unlikely" that KDNY's treatment for chronic
kidney disease, atrasentan, would receive regulatory approval
from U.S. FDA - Muddy Waters
    ** KDNY to collaborate with drug developer Ionis
Pharmaceuticals Inc  IONS.O  for development and
commercialization of a type of therapy for a rare, severe
chronic kidney disease
    ** IONS stock down 2.5% at $35.32
    ** Under the partnership, KDNY to pay IONS an undisclosed
upfront payment plus potential development and regulatory
milestone payments and royalties
    ** IONS will be responsible for pre-clinical toxicology
studies, while KDNY for clinical development and
commercialization
    ** YTD, KDNY down ~14% and IONS down ~7%

 (Reporting by Aditya Samal and Vansh Agarwal)
 ((Aditya.Samal@thomsonreuters.com;))