ProKidney Corp. reported its financial results for the second quarter of 2026, revealing a revenue of $150,000, a decrease from $221,000 in the same period last year. For the first half of 2026, the company generated $376,000 in revenue, down from $451,000 in the first half of 2025. The decline in revenue is attributed to the company's ongoing focus on research and development rather than product sales, as it has not yet commercialized any products.
The company's operating expenses for the second quarter increased to $48.5 million, compared to $39.9 million in the prior year, primarily driven by a significant rise in research and development costs, which surged to $36.1 million from $25.9 million. This increase reflects the company's continued investment in its Phase 3 clinical trial for its lead product candidate, rilparencel, aimed at treating advanced chronic kidney disease and type 2 diabetes. General and administrative expenses decreased slightly to $12.4 million from $14 million, largely due to reduced equity-based compensation and severance costs.
ProKidney's net loss for the second quarter was $46.4 million, compared to a loss of $37 million in the same quarter of 2025. The net loss attributable to Class A common stockholders was $28.4 million, up from $16.6 million a year earlier. For the first half of 2026, the net loss reached $89.1 million, compared to $74.9 million in the first half of 2025. The company reported an accumulated deficit of $1.32 billion as of June 30, 2026, raising concerns about its ability to continue as a going concern.
In terms of operational metrics, ProKidney's cash and cash equivalents stood at $74.9 million, down from $108.5 million at the end of 2025. The company has indicated that its existing cash resources may not be sufficient to fund operations for the next 12 months, highlighting the need for additional funding through equity offerings or other financing methods. The company is currently focused on advancing its clinical trials and expects to report topline data from its ongoing Phase 3 study in the second quarter of 2027.
Looking ahead, ProKidney remains committed to its research and development efforts, particularly for rilparencel, which has received regenerative medicine advanced therapy designation from the FDA. However, the company acknowledges the uncertainties surrounding clinical development and the potential for further financial losses as it continues to invest in its product pipeline.
About PROKIDNEY CORP.
ProKidney Corp. is a clinical-stage biotechnology company developing autologous cell therapies to treat chronic kidney disease (CKD). Its lead product, rilparencel, uses patient-derived kidney cells to preserve kidney function and delay progression to end-stage renal disease. The company focuses on regenerative medicine, clinical trials, and manufacturing personalized therapies, targeting markets with high unmet needs in CKD management and aiming for regulatory approval and commercialization.
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