ProKidney (PROK) Shares Skyrocket On Promising Kidney Disease Drug Trial Results

ProKidney Ord Shs Class A (NASDAQ:PROK) shares are trading sharply higher Wednesday morning, following a marked surge on Tuesday driven by positive clinical trial data for its chronic kidney disease (CKD) treatment.

The company’s shares are gaining again Wednesday as investors continue to cheer statistically significant and clinically meaningful results from its Phase 2 REGEN-007 trial for rilparencel.

What To Know: Early Wednesday, ProKidney’s stock hit a session volume of 165 million, a massive leap from its average of 6.65 million. The momentum was sparked by the announcement that its autologous cellular therapy, rilparencel, demonstrated a significant ability to preserve kidney function in patients with CKD and diabetes.

The pivotal data from Group 1 of the trial showed a 78% improvement in the annual decline of the estimated glomerular filtration rate (eGFR), a key measure of kidney function.

This result was both statistically significant (p<0.001) and clinically meaningful. A second group in the trial also showed a 50% improvement, suggesting a dose-response relationship, though this finding was not statistically significant.

ProKidney reported no serious adverse events related to the treatment. The company now plans a Type B meeting with the FDA this summer to discuss using the eGFR slope as a surrogate endpoint for accelerated approval, a move that could expedite the therapy’s path to market.

Price Action: According to data from Benzinga Pro, PROK shares are trading higher by 37% to $5.13 Wednesday morning. The stock is trading higher by over 700% over the trailing five sessions. PROK has a 52-week high of $7.13 and a 52-week low of $0.46.

Read Also: Why Is Penny Stock ProKidney Trading Higher On Tuesday?

How To Buy PROK Stock

By now you're likely curious about how to participate in the market for ProKidney – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of ProKidney, which is trading at $5.2 as of publishing time, $100 would buy you 19.23 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

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