ProKidney Corp. Class A Ordinary Shares (PROK)
ProKidney Corp. is a biopharmaceutical company focused on the development and commercialization of innovative therapies for kidney diseases. The company's offerings aim to address unmet medical needs in the nephrology space, with a focus on improving patient outcomes through novel treatments.
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Top-ranked stocks Wingstop (WING), Burlington Stores (BURL) and Prokidney CP (PROK) are likely to beat on the bottom line in their upcoming releases.
WINSTON-SALEM, N.C., June 11, 2024 (GLOBE NEWSWIRE) -- ProKidney Corp. (Nasdaq: PROK) (“ProKidney” or the “Company”), a leading late clinical-stage cellular therapeutics company focused on chronic kidney disease, today announced the pricing of an underwritten public offering and a concurrent registered direct offering of 53,719,009 shares of its Class A ordinary shares at a price of $2.42 per share, before applicable underwriting discounts and commissions. In addition, the underwriters will have a 30-day option to purchase up to an additional 15% of the Class A ordinary shares sold in the underwritten public offering. All of the Class A ordinary shares in the underwritten public offering and concurrent registered direct offering are being sold by the Company. The public offering and the concurrent registered direct offering are each expected to close on or about June 13, 2024, subject to customary closing conditions. The underwritten public offering is not contingent on the closing of the concurrent direct offering, and the concurrent direct offering is not contingent on the closing of the underwritten public offering.
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Two factors led to the stock's slide on Thursday.