PROKIDNEY CORP. SEC Filings

ProKidney Corp. reported a first-quarter 2026 net loss before noncontrolling interest of $42.6 million, compared with $38.0 million a year earlier, as it increased investment in its lead cell therapy, rilparencel. Revenue was minimal at $226 thousand.

Cash, cash equivalents and marketable securities totaled $224.9 million as of March 31, 2026, down from $270.0 million at year-end 2025, and are expected to fund operations into mid‑2027. Research and development expenses rose to $33.8 million, while general and administrative expenses declined to $11.3 million.

Clinically, the Phase 3 REGEN‑006 (PROACT 1) trial in advanced chronic kidney disease remains on track to complete enrollment for the accelerated-approval eGFR slope analysis in mid‑2026, with pivotal topline results anticipated in Q2 2027. Prior Phase 2 REGEN‑007 data showed a 4.6 mL/min/1.73m² improvement in annual eGFR slope in Group 1 after bilateral rilparencel injections.

ProKidney Corp. reported a larger net loss as it advances its lead kidney therapy. For the three months ended March 31, 2026, net loss available to Class A stockholders was $20.0 million, or $0.14 per share, versus $16.7 million or $0.13 a year earlier.

Research and development spending rose to $33.8 million, mainly from higher Phase 3 PROACT 1 trial and manufacturing costs, while general and administrative expenses fell to $11.3 million on lower equity-based compensation and professional fees. Cash used in operating activities was $41.7 million.

As of March 31, 2026, ProKidney held $101.9 million in cash and cash equivalents and $123.0 million in marketable securities, for total assets of $292.8 million. The company expects this liquidity to fund operations into mid-2027 while it runs its Phase 3 study of rilparencel, with key efficacy readouts anticipated in 2027 and 2029.

ProKidney Corp. received an updated ownership disclosure showing that Control Empresarial and members of the Slim family now beneficially own 73,842,723 shares of Class A common stock, representing 36.0% of the outstanding Class A shares.

On April 28, 2026, Control Empresarial exchanged 63,118,645 Paired Interests and corresponding Class B common stock for 63,118,645 shares of Class A common stock on a one-for-one basis under existing exchange arrangements. After this exchange, the reporting group’s holdings total 73,842,723 Class A shares. Percentage calculations use 205,061,550 Class A shares, combining 141,942,905 shares outstanding as of March 17, 2026 and 63,118,645 new Class A shares issued in the exchange. The filing also notes ProKidney’s July 1, 2025 domestication from the Cayman Islands to Delaware, which converted prior ordinary shares into Class A and Class B common stock.

PROKIDNEY CORP. major shareholder Control Empresarial de Capitales S.A. de C.V. converted its economic stake into a simpler structure. On the transaction date, it exchanged 63,118,645 Paired Interests (Class B Common Shares plus matching Common Units in ProKidney LLC) into 63,118,645 Class A Common Shares on a one-for-one basis at a stated price of $0.0000 per share, a non-cash conversion. Following this exchange, the holder reported owning 73,842,723 Class A Common Shares directly, with the corresponding Common Units and Class B Common Shares reduced to zero.

ProKidney Corp. is holding its 2026 annual stockholder meeting on May 28, 2026 at 10:00 a.m. Eastern Time, with both a Boston in-person venue and virtual webcast access. Stockholders of record as of April 8, 2026 may vote on director elections and auditor ratification.

Three Class I directors — William F. Doyle, Alan M. Lotvin, M.D., and Brian J.G. Pereira, M.D. — are nominated for new three-year terms. Stockholders are also asked to ratify Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026.

The proxy describes ProKidney’s staggered eight-member board, committee structure, corporate governance guidelines, and related-party arrangements. It details 2025 executive pay, including total compensation of $2,956,447 for CEO Bruce Culleton, M.D., and outlines severance and change-in-control protections for key executives.

ProKidney Corp. reported 2025 results showing steady clinical progress and a typical development-stage loss profile. Revenue was $893 thousand, while research and development expenses were $114.1 million and general and administrative expenses were $51.8 million, leading to a net loss before noncontrolling interest of $151.6 million, an improvement from $163.3 million in 2024.

The company ended 2025 with $270.0 million in cash, cash equivalents and marketable securities and expects this to fund operations into mid-2027. Clinically, ProKidney advanced rilparencel with positive Phase 2 REGEN-007 data, strong enrollment momentum in the Phase 3 PROACT 1 trial, and FDA alignment on using eGFR slope as a surrogate endpoint for an accelerated approval pathway.

Key upcoming milestones include completing PROACT 1 enrollment in 2026, a Phase 3 surrogate endpoint readout in Q2 2027, and a planned BLA submission in Q4 2027.

ProKidney Corp. is a late-clinical-stage biotech company developing rilparencel, an autologous cell therapy aimed at preserving kidney function in patients with advanced chronic kidney disease and diabetes. The company completed a corporate domestication from the Cayman Islands to Delaware and streamlined its holding structure in 2025.

Rilparencel is the only cell therapy in a Phase 3 study for advanced CKD and type 2 diabetes and has FDA regenerative medicine advanced therapy designation. Phase 2 trials (including REGEN-007 and RMCL-002) showed statistically significant slowing of eGFR decline in key groups and a safety profile similar to kidney biopsy procedures.

The ongoing Phase 3 PROACT 1 (REGEN-006) trial targets about 470 patients with Stage 3b–4 CKD in the United States, Mexico and Taiwan, using annualized eGFR slope as the surrogate endpoint for potential accelerated approval, with topline surrogate data expected in the second quarter of 2027 and confirmatory time-to-event data in the second half of 2029. ProKidney operates an in-house GMP-aligned manufacturing facility in North Carolina, recently remediated to meet U.S. and European standards, and holds a broad global patent estate protecting rilparencel, its formulations, quality controls and methods of use.

Coulston James reported acquisition or exercise transactions in this Form 4 filing.

PROKIDNEY CORP. reported that its Chief Financial Officer, James Coulston, received a grant of employee stock options covering 600,000 shares of the company’s stock. The options were awarded at no cost on the grant date and are scheduled to vest in substantially equal monthly installments over a four-year period beginning March 1, 2026, tying the CFO’s potential upside closely to the company’s long-term performance.