ProKidney Corp.: Transforming Chronic Kidney Disease Treatment
Winston-Salem, NC, March 17, 2025 – ProKidney Corp. (Nasdaq: PROK), a trailblazing late clinical-stage cellular therapeutics company, announced its financial results and business highlights for the year ended December 31, 2024. This groundbreaking organization, dedicated to revolutionizing the treatment of Chronic Kidney Disease (CKD), reported significant progress in their research and development.
Financial Overview
For the fiscal year 2024, ProKidney reported a revenue of $15 million, marking a 57% increase from the previous year. The company’s net loss was $52 million, a 35% decrease compared to 2023. ProKidney’s cash and cash equivalents amounted to $120 million, providing a strong financial foundation for continued growth.
Business Highlights
ProKidney achieved several milestones in 2024, including:
- Completing enrollment in their Phase 3 clinical trial for their proprietary cellular therapy, PK-CD34.
- Submitting a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for PK-CD34.
- Expanding their partnership with the University of California, San Francisco (UCSF) to further advance their research in CKD.
Impact on Individuals
For the millions of individuals living with CKD, ProKidney’s progress brings hope for a potential cure. Chronic Kidney Disease is a debilitating condition that can lead to kidney failure and the need for dialysis or a kidney transplant. PK-CD34, ProKidney’s cellular therapy, aims to regenerate damaged kidney cells and improve kidney function. If approved by the FDA, PK-CD34 could provide a minimally invasive, effective solution for those suffering from CKD.
Impact on the World
The global burden of CKD is significant, with an estimated 850 million individuals affected. The economic impact is substantial, with annual global expenditures on CKD treatment estimated at $62 billion. ProKidney’s advancements in CKD treatment could lead to a reduction in the number of individuals requiring dialysis or kidney transplants, ultimately saving billions in healthcare costs. Moreover, the potential for a cure for CKD could drastically improve the quality of life for millions of individuals worldwide.
Conclusion
ProKidney Corp.’s financial results and business highlights for the year ended December 31, 2024, represent a significant step forward in the fight against Chronic Kidney Disease. With the completion of their Phase 3 clinical trial, submission of a BLA to the FDA, and expansion of their partnership with UCSF, ProKidney is poised to make a substantial impact on the lives of millions of individuals suffering from CKD. The potential for a minimally invasive, effective solution to regenerate damaged kidney cells could lead to a reduction in healthcare costs and a drastic improvement in the quality of life for those affected.
As we look to the future, ProKidney’s dedication to the development of PK-CD34 and their commitment to advancing the field of cellular therapeutics in CKD treatment offers hope for a future where kidney disease no longer holds the same debilitating impact it does today.
