ProKidney Shares Surge on FDA Support for Kidney Drug Trial

Shares of ProKidney rose 5.4% to $3.89 in early trading after receiving FDA support for its path to accelerated approval of rilparencel kidney disease drug. The biotech company is studying the drug in a Phase 3 trial to preserve kidney function in people with advanced chronic kidney disease and type 2 diabetes. ProKidney shared favorable results from a Phase 2 trial last week and is now in alignment with the FDA about the upcoming trial results required for accelerated approval.