Cell therapy developer ProKidney's Q2 operating loss widens as trial costs rise
PROK•Main cost drivers in the quarter
- Clinical study costs - Higher R&D expenses in Q2 were driven by increased clinical study and related manufacturing costs for the ongoing PROACT 1 trial.
- Lower administrative costs - General and administrative expenses fell due to lower compensation costs and reduced professional fees.
- Enrollment milestone - Completion of enrollment for PROACT 1 accelerated approval efficacy analysis marked a key operational milestone.
Quarterly figures and analyst view
| Metric | Actual |
|---|---|
| Q2 Operating Expenses | $48.52 mln |
| Q2 Operating Income | -$48.37 mln |
| Q2 Pretax Loss | -$46.44 mln |
The current average analyst rating on the shares is "buy," with 5 "strong buy" or "buy," 3 "hold" and 1 "sell" or "strong sell."
The average consensus recommendation for the biotechnology & medical research peer group is "buy," and Wall Street's median 12-month price target for ProKidney Corp is $7.00, about 326.8% above its August 7 closing price of $1.64.
Outlook for PROACT 1 and cash runway
ProKidney expects topline eGFR slope results from PROACT 1 in Q2 2027 and says it remains on track to complete full PROACT 1 enrollment in the second half of 2026.
The company said its current cash supports operations into mid-2027.
