ProKidney Q2 2026: PROACT 1 Enrollment Milestone Reached, Cash Runway into Mid-2027
PROK is trading near its 52-week low of $1.45 (13% above the low).
Summary
ProKidney hit a key enrollment milestone for its PROACT 1 accelerated approval analysis, with topline results expected in Q2 2027. Cash of $181.6 million funds operations through the data readout.
Key Events · Earnings and Guidance · PROK
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PROACT 1 Accelerated Approval Enrollment Complete
Enrollment of ~320 patients for the eGFR slope surrogate endpoint analysis is complete, with topline results expected in Q2 2027.
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Full PROACT 1 Enrollment on Track for H2 2026
The confirmatory composite endpoint analysis (~470 patients) remains on schedule for full enrollment in the second half of 2026, with topline data anticipated in H2 2029.
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Cash Runway Extends into Mid-2027
Cash, cash equivalents, and marketable securities totaled $181.6 million at June 30, 2026, down from $224.9 million at March 31, 2026, supporting operations through the expected accelerated approval data readout.
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R&D Spending Rises 39% to $36.1 Million
Research and development expenses increased $10.2 million year-over-year, driven by clinical study and manufacturing costs for the ongoing PROACT 1 trial.
Analysis · PROK · Life Sciences
A critical de-risking event has been achieved with the completion of enrollment for the accelerated approval analysis of the Phase 3 PROACT 1 trial, positioning the company for pivotal eGFR slope data in Q2 2027. The $181.6 million cash balance provides a runway into mid-2027, comfortably covering the expected data readout. Reflecting the trial's late-stage intensity, R&D spending jumped 39% year-over-year to $36.1 million. In a further signal of preparation for potential commercialization, a Chief Technical Officer with deep cell therapy manufacturing experience was appointed.
At the time of this filing, PROK was trading at $1.64 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $510.5M. The 52-week trading range was $1.45 to $3.48. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.