Chinook Therapeutics falls on collaboration deal with Ionis for kidney therapy

Chinook Therapeutics

16/05/2023 15:00

** Shares of kidney disease-focused biopharma Chinook
Therapeutics Inc  KDNY.O  down 8% at $21.55 
    ** Co 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
    ** 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 
    ** KDNY will be responsible for clinical development and
commercialization
    ** IONS down 2.5% at $35.32
    ** YTD, KDNY down 17%, IONS down 6%

 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))