ProKidney Corp. (PROK) shares continued their impressive rally, surging 5.99% in Wednesday's trading session. This follows an extraordinary 515% gain on Tuesday, driven by the company's announcement of positive topline results from a mid-stage trial for its lead candidate, rilparencel, in patients with chronic kidney disease and diabetes.
The cell therapy developer reported that its Phase 2 REGEN-007 trial showed statistically significant and clinically meaningful improvements in kidney function. Specifically, the trial demonstrated a decline in the slope of the estimated glomerular filtration rate (eGFR), which was the study's primary endpoint. The treatment also showed a favorable safety profile, with no treatment-related serious adverse events reported.
Investors' enthusiasm for ProKidney's potential breakthrough in chronic kidney disease treatment has not waned. The continued stock price increase suggests that market participants are optimistic about the company's future prospects and the potential success of rilparencel. Additionally, the positive results have bolstered confidence in the design of ProKidney's ongoing Phase 3 PROACT 1 trial, which uses a similar dosing regimen to the successful Group 1 cohort in the REGEN-007 study.
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