PROK PRESS-RELEASE SEC Filing Analysis

Latest settled — T+5d ⚠ clustered

PROK ▲ +5.42% at T+5d

NEUTRAL call ✓ call won +5.42% · α vs SPY +4.46% · entry $1.66 → $1.75

Next anchor: T+20d tomorrow

Currently $1.64 · -1.20% from $1.66 entry

Entry anchored
May 15, 11:37 AM ET
via Databento tick

T+1d

-3.01%

call -3.01% · α -2.95%

$1.61

settled 26d ago

T+5d

+5.42%

call +5.42% · α +4.46%

$1.75

settled 22d ago

T+20d

—

call — · α —

—

tomorrow

T+60d

—

call — · α —

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in 8w

Price Chart

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Executive Summary

ProKidney reported Q1 2026 EPS of -$0.14, essentially in line with the -$0.14 consensus (a 1.8% miss), with negligible revenue of $226K. The key catalyst is the on-track enrollment completion for the Phase 3 PROACT 1 accelerated approval analysis in mid-2026, with pivotal topline eGFR slope results expected in Q2 2027. Cash burn continues, with $224.9M in cash supporting operations into mid-2027, but no fundamental financial improvement was reported.

Actionable Insight

The stock will trade on PROACT 1 enrollment milestones and the Q2 2027 topline readout, not quarterly financials. Monitor for enrollment completion announcements in mid-2026 and any FDA interactions. Cash runway into mid-2027 provides no near-term financing urgency, but the burn rate implies a potential capital raise before the readout if enrollment delays occur.

Key Facts

Q1 2026 EPS of -$0.14 vs consensus -$0.14 (in line, 1.8% miss)
Revenue of $226K vs consensus $100K (beat, but immaterial for a clinical-stage biotech)
Cash, cash equivalents and marketable securities: $224.9M as of March 31, 2026, down from $270.0M at year-end 2025
Net loss before noncontrolling interest: $42.6M in Q1 2026 vs $38.0M in Q1 2025
R&D expenses increased to $33.8M from $27.3M YoY, driven by PROACT 1 study costs
Phase 3 PROACT 1 enrollment on track to complete in mid-2026; pivotal topline results expected Q2 2027
FDA confirmed eGFR slope as surrogate endpoint for accelerated approval under RMAT designation
Phase 2 REGEN-007 results published in CJASN in January 2026
Cash runway into mid-2027

Financial Impact

No material financial impact from Q1 results; cash burn of ~$45M per quarter continues. Key value driver is the PROACT 1 readout in Q2 2027.

cashnet lossR&D expenses

Risk Factors

PROACT 1 enrollment delays or failure to meet eGFR slope endpoint
Cash burn may require dilutive financing before mid-2027 if enrollment or readout is delayed
Regulatory risk: FDA may require additional studies beyond PROACT 1 for approval
Competition from other CKD therapies (SGLT2 inhibitors, finerenone)

Market Snapshot

Exchange

Nasdaq

Sector

Biological Products, (No Diagnostic Substances)

Analyst Consensus

67% bullish (15 analysts)

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3296021

4 reports for PROK

T+1T+5T+20T+60

Filters

Reports for PROK — sortable, filterable
	Type				Now
May 15, 2026 28d ago	8-K NEUTRAL ★ 4/10	$1.66 $1.75	▲ +5.42%	▲ +4.46%	$1.64 (−1.20%)
May 15, 2026 28d ago	Press Release NEUTRAL ★ 5/10	$1.66 $1.75	▲ +5.42%	▲ +4.46%	$1.64 (−1.20%)
Apr 17, 2026 8w ago	DEFA14A NEUTRAL ★ 2/10	$2.10 $1.86	▼ −11.43%	▼ −12.34%	$1.64 (−21.90%)
Mar 18, 2026 12w ago	Press Release MIXED ★ 6/10	$1.95 $1.77	▼ −9.23%	▼ −7.02%	$1.64 (−15.90%)

US Market Status

Market Closed — Opens Mon (48h 58m)

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