ProKidney Q3 loss widens on higher R&D costs

Prokidney

12/11/2026 21:18

Overview
U.S. cell therapy firm's Q3 net loss widened as R&D and G&A expenses increased
Company ended Q3 with $142 mln in cash and marketable securities, supporting operations into mid-2027
On track for pivotal Phase 3 PROACT 1 topline results in Q2 2027

Outlook
ProKidney expects pivotal Phase 3 PROACT 1 topline results in Q2 2027
Company anticipates completing full enrollment for PROACT 1 confirmatory analysis in Q1 2027
ProKidney expects current cash to support operations into mid-2027

Result Drivers
CLINICAL TRIAL COSTS - Higher R&D expenses were driven by increased clinical study and manufacturing costs for the ongoing PROACT 1 study
OPERATIONAL EXPENSES - Professional fees, other operational costs, and compensation rose due to continued enrollment and preparation for regulatory filings
PATIENT RECRUITMENT - Accelerated patient recruitment for PROACT 1 expected to increase total enrollment above 500

Company press release: ID:nGNXbnpS2

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Operating Expenses
 
$53.93 mln
 
Q3 Operating Income
 
-$53.76 mln
 
Q3 Pretax Loss
 
$52.23 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Prokidney Corp is $7.00, about 519.5% above its November 11 closing price of $1.13

Reuters Recommended Reads
Nov 12 - Taysha Gene Therapies Q3 net loss widens on higher R&D costs
Nov 12 - Assembly Biosciences Q3 net loss widens on increased R&D costs
Nov 10 - Cellectar Biosciences Q3 net loss widens on higher R&D costs

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)