ProKidney Corp. has released its financial results for the first quarter ended March 31, 2025. The company reported a net loss before noncontrolling interest of $38.0 million, an increase from the $35.3 million loss recorded during the same period in 2024. General and administrative expenses rose to $14.4 million for the quarter, up from $12.8 million in the prior year, primarily due to increased cash compensation and professional fees. ProKidney ended the quarter with $328.5 million in cash, cash equivalents, and marketable securities, down from $358.3 million as of December 31, 2024. These funds are expected to support operations until mid-2027. In terms of business operations, ProKidney anticipates the release of full data from Group 1 of its Phase 2 REGEN-007 study in Q2 2025. This data will include approximately 20 patients who have received two rilparencel injections. Additionally, the company is preparing for a regulatory update on the accelerated approval pathway for rilparencel following a planned Type B meeting with the FDA, expected in mid-2025.
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