Why Is Penny Stock ProKidney Trading Higher On Tuesday?

Core Insights - ProKidney Corp. reported positive topline results from the Phase 2 REGEN-007 trial of rilparencel, showing significant improvement in kidney function for patients with chronic kidney disease (CKD) and diabetes [1][3][4] Group 1: Trial Results - In Group 1 (n=24), the annual decline in estimated glomerular filtration rate (eGFR) improved by 78%, from -5.8 mL/min/1.73m² to -1.3 mL/min/1.73m² after rilparencel injections, with a statistically significant difference of 4.6 mL/min/1.73m² per year (p<0.001) [3] - Of the 24 patients in Group 1, 15 (63%) met the key Phase 3 PROACT 1 inclusion criteria, showing similar efficacy results to the full Group 1 [4] Group 2: Additional Findings - In Group 2 (n=25), the eGFR slope improved by 50%, from -3.4 mL/min/1.73m² to -1.7 mL/min/1.73m², with a 1.7 mL/min/1.73m² per year difference that was not statistically significant (p=0.085) [5] - Of the 25 patients in Group 2, 15 (60%) received a second rilparencel injection after approximately 11 months, with no serious adverse events reported [6] Regulatory and Market Response - An FDA Type B meeting is scheduled for this summer to discuss the use of eGFR slope as a surrogate endpoint in the ongoing Phase 3 PROACT 1 study, aiming for accelerated approval [7] - Following the announcement, PROK stock rose by 56.6% to $0.95 during the premarket session [7]