ProKidney Appoints Kenneth Locke as Chief Technical Officer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 02 2026
0mins
ProKidney (PROK) announced the appointment of Kenneth Locke as chief technical officer. Locke joins ProKidney from Carisma Therapeutics (CARM), where he oversaw CMC, Quality and Regulatory functions and led technical strategy for first-in-human CAR Myeloid programs.
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Analyst Views on PROK
Wall Street analysts forecast PROK stock price to rise
3 Analyst Rating
1 Buy
1 Hold
1 Sell
Hold
Current: 1.750
Low
1.00
Averages
5.33
High
12.00
Current: 1.750
Low
1.00
Averages
5.33
High
12.00
About PROK
Prokidney Corp. is a late clinical-stage cellular therapeutics company focused on chronic kidney disease (CKD). The Company’s cell therapy platform has the potential to treat CKD using a patient’s own cells. The Company’s lead product candidate, rilparencel (also known as REACT), is a first-in-class, patented, proprietary autologous cell therapy being evaluated in the ongoing Phase III REGEN-006 (PROACT 1) trial to demonstrate the therapy’s potential to preserve kidney function in patients with type 2 diabetes and advanced CKD. Its PROACT 1 is an ongoing Phase III randomized, blinded, sham controlled safety and efficacy study of rilparencel in subjects with type 2 diabetes and advanced CKD. Its REGEN-007 is a multi-center Phase II open-label, randomized two-arm trial of rilparencel in patients with diabetes, CKD.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
ProKidney Q1 Earnings Beat Expectations
- Earnings Highlights: ProKidney reported a Q1 GAAP EPS of -$0.14, beating expectations by $0.01, indicating potential improvement in the company's profitability outlook.
- Revenue Performance: The company generated $0.23 million in revenue for the quarter, flat year-over-year but exceeding market expectations by $0.03 million, suggesting stable demand for its products or services.
- Cash Position: As of March 31, 2026, ProKidney's cash, cash equivalents, and marketable securities totaled $224.9 million, down from $270.0 million as of December 31, 2025, reflecting challenges in cash management.
- Funding Outlook: The company expects that its cash reserves as of March 31, 2026, will be sufficient to fund its operating expenses and capital expenditure requirements into mid-2027, demonstrating financial stability and confidence in future growth.
See More
ProKidney Reports Q1 2026 Financial Results and Clinical Progress
- Clinical Trial Progress: ProKidney is on track to complete enrollment for the PROACT 1 study by mid-2026, with pivotal eGFR slope topline results expected in Q2 2027, which could provide a new treatment option for chronic kidney disease patients, addressing a significant unmet medical need in the market.
- Financial Position: As of March 31, 2026, ProKidney reported cash and cash equivalents totaling $224.9 million, which is expected to support operations into mid-2027, demonstrating the company's robust financial management amidst ongoing clinical trials.
- Increased R&D Spending: The company incurred $33.8 million in R&D expenses for Q1 2026, a 24.5% increase from $27.3 million in Q1 2025, primarily driven by rising clinical study and manufacturing costs, indicating a strong commitment to advancing its clinical programs.
- Net Loss Overview: ProKidney reported a net loss of $42.6 million for Q1 2026, up from $38.0 million in Q1 2025, highlighting the need for careful cost management as the company continues to invest heavily in research and development.
See More
ProKidney Reports 2025 Financials and R&D Progress
- Narrowed Financial Loss: ProKidney reported a net loss of $82.63 million for 2025, down from $102.15 million the previous year, indicating improved cost control and operational efficiency, which may bolster investor confidence.
- Cash Position: As of December 31, 2025, ProKidney's cash and cash equivalents totaled $270 million, an 8.83% decrease from the prior year, yet the company expects this to fund operations and capital expenditures into mid-2027, reflecting a stable financial management approach.
- Clinical Trial Progress: The Phase 3 trial for Rilparencel is expected to complete enrollment of approximately 360 patients by mid-2026, which, if successful, will provide strong support for accelerated approval, enhancing the company's position in the chronic kidney disease treatment market.
- Future Milestones: ProKidney plans to submit a Biologics License Application for Rilparencel in Q4 2027, with potential commercialization in the second half of 2028, which could lead to significant revenue growth and increased market share for the company.
See More
ProKidney Reports Strong FY Results with Revenue Growth
- Strong Earnings Report: ProKidney's FY GAAP EPS of -$0.52 beats expectations by $0.18, indicating improvements in cost control and operational efficiency, although the company remains in a loss position.
- Revenue Growth: The company reported revenue of $0.89 million, a 17.1% year-over-year increase that exceeds market expectations by $0.35 million, reflecting sustained demand in the chronic kidney disease (CKD) sector and boosting investor confidence.
- Market Positioning: ProKidney's differentiated CKD treatment approach positions it favorably in a competitive market, likely attracting more patients and healthcare institutions, which could drive future revenue growth.
- Investor Engagement: ProKidney's presentation at the 44th Annual J.P. Morgan Healthcare Conference showcased its strategies and products, enhancing the company's visibility in the healthcare industry and potentially paving the way for future financing and partnership opportunities.
See More
Chronic Kidney Disease Market Growth Drivers
- Market Size Growth: According to analysis, the chronic kidney disease (CKD) market size was approximately $4.8 billion in 2024 and is expected to grow further by 2034, reflecting increased demand for new therapies and an expanding patient base.
- Rising Patient Numbers: In 2024, there were about 82 million prevalent cases of CKD across the 7 major markets (7MM), with projections indicating continued growth from 2025 to 2034, primarily driven by an aging population and the rising prevalence of diabetes and hypertension.
- Launch of New Therapies: The introduction of emerging therapies such as AstraZeneca's Zibotentan/Dapagliflozin and Boehringer Ingelheim's Vicadrostat + Empagliflozin is expected to significantly boost market growth and improve treatment outcomes for patients.
- Advancements in Biomarkers: Progress in biomarkers like KIM-1 and NGAL enables more precise early detection of CKD, thereby enhancing the potential for timely interventions and improving overall patient prognosis.
See More
Avant Technologies Drives 67.5% Market Share in Cell Therapy Manufacturing
- Market Transformation: The cell therapy manufacturing sector reached a pivotal inflection point in late 2025, with contract development and manufacturing organizations (CDMOs) capturing 67.5% market share, indicating a shift from boutique R&D to scalable bioprocessing infrastructure, which is driving rapid industry growth.
- Surging Demand: The demand for gene and CAR-T therapies has led to CDMO partnerships rapidly expanding viral vector production and GMP-compliant facilities, overcoming previous bottlenecks that constrained commercial access, significantly enhancing market entry capabilities.
- Investment Opportunity: The regenerative medicine market is projected to surge from $48.45 billion in 2024 to $403.86 billion by 2032, with cell-based therapies representing the fastest-growing segment, creating an urgent investment window, especially as most emerging biotechs trade at steep discounts.
- Technological Innovation: Avant Technologies is advancing cell encapsulation technology through its joint venture Insulinova with SG Austria, aiming to provide efficient long-term treatment solutions for diabetes patients globally, addressing the immune rejection of implanted cells, thereby laying the groundwork for safe and scalable diabetes therapies.
See More
ProKidney Q1 Earnings Beat Expectations
- Earnings Highlights: ProKidney reported a Q1 GAAP EPS of -$0.14, beating expectations by $0.01, indicating potential improvement in the company's profitability outlook.
- Revenue Performance: The company generated $0.23 million in revenue for the quarter, flat year-over-year but exceeding market expectations by $0.03 million, suggesting stable demand for its products or services.
- Cash Position: As of March 31, 2026, ProKidney's cash, cash equivalents, and marketable securities totaled $224.9 million, down from $270.0 million as of December 31, 2025, reflecting challenges in cash management.
- Funding Outlook: The company expects that its cash reserves as of March 31, 2026, will be sufficient to fund its operating expenses and capital expenditure requirements into mid-2027, demonstrating financial stability and confidence in future growth.
See More
ProKidney Reports Q1 2026 Financial Results and Clinical Progress
- Clinical Trial Progress: ProKidney is on track to complete enrollment for the PROACT 1 study by mid-2026, with pivotal eGFR slope topline results expected in Q2 2027, which could provide a new treatment option for chronic kidney disease patients, addressing a significant unmet medical need in the market.
- Financial Position: As of March 31, 2026, ProKidney reported cash and cash equivalents totaling $224.9 million, which is expected to support operations into mid-2027, demonstrating the company's robust financial management amidst ongoing clinical trials.
- Increased R&D Spending: The company incurred $33.8 million in R&D expenses for Q1 2026, a 24.5% increase from $27.3 million in Q1 2025, primarily driven by rising clinical study and manufacturing costs, indicating a strong commitment to advancing its clinical programs.
- Net Loss Overview: ProKidney reported a net loss of $42.6 million for Q1 2026, up from $38.0 million in Q1 2025, highlighting the need for careful cost management as the company continues to invest heavily in research and development.
See More
ProKidney Reports 2025 Financials and R&D Progress
- Narrowed Financial Loss: ProKidney reported a net loss of $82.63 million for 2025, down from $102.15 million the previous year, indicating improved cost control and operational efficiency, which may bolster investor confidence.
- Cash Position: As of December 31, 2025, ProKidney's cash and cash equivalents totaled $270 million, an 8.83% decrease from the prior year, yet the company expects this to fund operations and capital expenditures into mid-2027, reflecting a stable financial management approach.
- Clinical Trial Progress: The Phase 3 trial for Rilparencel is expected to complete enrollment of approximately 360 patients by mid-2026, which, if successful, will provide strong support for accelerated approval, enhancing the company's position in the chronic kidney disease treatment market.
- Future Milestones: ProKidney plans to submit a Biologics License Application for Rilparencel in Q4 2027, with potential commercialization in the second half of 2028, which could lead to significant revenue growth and increased market share for the company.
See More
ProKidney Reports Strong FY Results with Revenue Growth
- Strong Earnings Report: ProKidney's FY GAAP EPS of -$0.52 beats expectations by $0.18, indicating improvements in cost control and operational efficiency, although the company remains in a loss position.
- Revenue Growth: The company reported revenue of $0.89 million, a 17.1% year-over-year increase that exceeds market expectations by $0.35 million, reflecting sustained demand in the chronic kidney disease (CKD) sector and boosting investor confidence.
- Market Positioning: ProKidney's differentiated CKD treatment approach positions it favorably in a competitive market, likely attracting more patients and healthcare institutions, which could drive future revenue growth.
- Investor Engagement: ProKidney's presentation at the 44th Annual J.P. Morgan Healthcare Conference showcased its strategies and products, enhancing the company's visibility in the healthcare industry and potentially paving the way for future financing and partnership opportunities.
See More
Chronic Kidney Disease Market Growth Drivers
- Market Size Growth: According to analysis, the chronic kidney disease (CKD) market size was approximately $4.8 billion in 2024 and is expected to grow further by 2034, reflecting increased demand for new therapies and an expanding patient base.
- Rising Patient Numbers: In 2024, there were about 82 million prevalent cases of CKD across the 7 major markets (7MM), with projections indicating continued growth from 2025 to 2034, primarily driven by an aging population and the rising prevalence of diabetes and hypertension.
- Launch of New Therapies: The introduction of emerging therapies such as AstraZeneca's Zibotentan/Dapagliflozin and Boehringer Ingelheim's Vicadrostat + Empagliflozin is expected to significantly boost market growth and improve treatment outcomes for patients.
- Advancements in Biomarkers: Progress in biomarkers like KIM-1 and NGAL enables more precise early detection of CKD, thereby enhancing the potential for timely interventions and improving overall patient prognosis.
See More
Avant Technologies Drives 67.5% Market Share in Cell Therapy Manufacturing
- Market Transformation: The cell therapy manufacturing sector reached a pivotal inflection point in late 2025, with contract development and manufacturing organizations (CDMOs) capturing 67.5% market share, indicating a shift from boutique R&D to scalable bioprocessing infrastructure, which is driving rapid industry growth.
- Surging Demand: The demand for gene and CAR-T therapies has led to CDMO partnerships rapidly expanding viral vector production and GMP-compliant facilities, overcoming previous bottlenecks that constrained commercial access, significantly enhancing market entry capabilities.
- Investment Opportunity: The regenerative medicine market is projected to surge from $48.45 billion in 2024 to $403.86 billion by 2032, with cell-based therapies representing the fastest-growing segment, creating an urgent investment window, especially as most emerging biotechs trade at steep discounts.
- Technological Innovation: Avant Technologies is advancing cell encapsulation technology through its joint venture Insulinova with SG Austria, aiming to provide efficient long-term treatment solutions for diabetes patients globally, addressing the immune rejection of implanted cells, thereby laying the groundwork for safe and scalable diabetes therapies.
See More
