PROKIDNEY CORP. PROK
We are a late-clinical-stage biotechnology company pioneering the development of a first-in-class, autologous cell therapy that is intended to preserve kidney function in patients with advanced chronic kidney disease ("CKD") and diabetes. Our approach seeks to redefine the treatment of CKD, shifting the emphasis away from management of kidney failure to the preservation of kidney function. Our lead product candidate, rilparencel, is the only cell therapy in Phase 3 clinical study for the treatment of advanced CKD and type 2 diabetes. Rilparencel is a product that includes autologous Selected Renal Cells ("SRC") prepared from a patient's own (autologous) kidney cells. The SRC are formulated as rilparencel for reinjection into the patient's kidneys using a minimally invasive outpatient procedure. Because rilparencel is a personalized product composed of cells prepared from a patient's own kidney, there is no need for treatment with immunosuppressive therapies that are required during a patient's lifetime when a patient receives a kidney transplant from another (allogeneic) donor.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $893.0K | $76.0K | $0 | $0 | — | — | — |
| R&D | $114.1M | $127.7M | $106.7M | $82.1M | $46.3M | $21.0M | — |
| SG&A | $51.8M | $56.1M | $44.8M | $70.9M | $8.9M | $6.0M | — |
| Total operating expenses | $165.9M | $183.8M | $151.5M | $153.0M | $55.1M | $27.0M | — |
| Operating income | -$165.0M | -$183.7M | -$151.5M | -$153.0M | -$55.1M | -$27.0M | — |
| Interest expense | $4.0K | $9.0K | $12.0K | $215.0K | $0 | $0 | — |
| Pre-tax income | -$151.2M | -$163.9M | -$129.5M | -$147.2M | -$55.1M | -$27.0M | — |
| Income tax | $414.0K | $598.0K | $6.0M | $896.0K | $38.0K | $232.0K | — |
| Net income | -$69.0M | -$61.2M | -$35.5M | -$148.1M | -$55.1M | -$26.7M | — |
| EPS, basic | — | — | — | -0.23 | — | — | — |
| EPS, diluted | — | — | — | -0.23 | — | — | — |
| Shares, diluted (wtd. avg.) | — | — | — | $61.5M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $108.5M | $99.1M | $60.6M | $490.3M | $20.6M | $4.6M | $15.2M |
| Total current assets | $280.7M | $395.9M | $374.1M | $504.7M | $27.3M | — | — |
| Property, plant and equipment | $51.2M | $42.2M | $42.1M | $10.7M | $11.4M | — | — |
| Other intangibles | — | — | $0 | $213.0K | $428.0K | — | — |
| Total assets | $335.6M | $441.1M | $420.6M | $518.0M | $40.3M | — | — |
| Accounts payable | $940.0K | $3.6M | $5.1M | $3.0M | $2.8M | — | — |
| Total current liabilities | $30.7M | $36.2M | $25.0M | $10.9M | $12.3M | — | — |
| Total liabilities | $34.8M | $39.4M | $29.2M | $13.1M | $13.4M | — | — |
| Retained earnings | -$1.27B | -$1.20B | -$1.14B | -$1.10B | -$161.5M | — | — |
| Total equity | -$1.01B | -$995.0M | -$1.10B | -$1.10B | $26.9M | $9.9M | $15.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$120.1M | -$126.4M | -$90.1M | -$77.1M | -$50.3M | -$25.2M | — |
| Depreciation and amortisation | $6.6M | $5.4M | $3.9M | $3.0M | $2.0M | $964.0K | — |
| Stock-based compensation | $25.3M | $29.4M | $30.8M | $74.5M | $699.0K | $730.0K | — |
| Capital expenditure | $15.2M | $29.5M | $34.2M | $1.8M | $5.2M | $5.5M | — |
| Investing cash flow | $104.0M | $20.4M | -$330.0M | -$1.7M | -$5.2M | -$5.5M | — |
| Financing cash flow | $25.6M | $144.4M | -$9.6M | $548.5M | $71.5M | $20.0M | — |
| Buybacks | $0 | $0 | $9.5M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-113881.
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