ProKidney (PROK) AI Stock Analysis

• Market Cap: $685.90M
• Dividend Yield: N/A
• Average Volume (3M): 1.13M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.83
• Revenue Growth: N/A
• EPS Growth: 2.35%
• Country: US
• Employees: 204
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.12
• Shares Outstanding: 141,545,440
• 10 Day Avg. Volume: 951,570
• 30 Day Avg. Volume: 1,125,455
• PEG Ratio: -0.31
• Price to Book (P/B): -0.17
• Price to Sales (P/S): 2177.35
• P/FCF Ratio: -1.06
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $5.33
• Price Target Upside: 133.77% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 3
• EPS Forecast (FY): -0.61
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: $2.50 ▲(9.65% Upside)

The score is primarily held down by weak financial performance (large operating losses, significant cash burn, and deeply negative equity). Technical indicators are broadly neutral with only modest longer-term support, valuation offers limited help due to negative earnings and no dividend, while recent corporate updates provide a constructive catalyst signal via regulatory alignment and manufacturing/clinical progress.

Positive Factors

Innovative Product

ProKidney's focus on innovative cellular therapies like REACT positions it at the forefront of CKD treatment, potentially transforming patient care and offering a competitive edge in the biotechnology sector.

Strategic Partnerships

Potential partnerships with larger pharmaceutical companies could enhance ProKidney's distribution capabilities, providing access to broader markets and additional revenue streams through upfront payments, milestones, and royalties.

Market Position

ProKidney's dedication to pioneering therapies for CKD positions it as a leader in a niche market, potentially capturing significant market share as demand for advanced kidney treatments grows.

Negative Factors

Weak Financial Performance

Persistent financial weaknesses, including lack of revenue growth and high costs, threaten ProKidney's long-term viability, limiting its ability to invest in R&D and expand operations.

High Leverage

High leverage and negative equity raise concerns about ProKidney's solvency, potentially restricting its financial flexibility and ability to withstand economic downturns or fund future growth.

Cash Flow Issues

Ongoing negative cash flow highlights inefficiencies in cash management, posing a risk to ProKidney's operational sustainability and ability to finance its strategic initiatives without external funding.

ProKidney Business Overview & Revenue Model

Company Description

ProKidney Corp., a clinical-stage biotechnology, engages in developing cellular therapy candidates. It is developing Renal Autologous Cell Therapy, an autologous homologous cell admixture that is in a Phase III development program, as well as Phase II clinical trials for the treatment of moderate to severe diabetic kidney disease; and Phase I clinical trial for patients with congenital anomalies of the kidney and urinary tract. The company was founded in 2015 and is headquartered in Winston-Salem, North Carolina.

How the Company Makes Money

ProKidney makes money primarily through the development and commercialization of its innovative cellular therapies for chronic kidney disease, particularly through its flagship product, Renal Autologous Cell Therapy (REACT). The company seeks to generate revenue by advancing this product through clinical trials and achieving regulatory approval, which would allow it to market the therapy to healthcare providers and hospitals. Additionally, ProKidney may enter into partnerships or licensing agreements with larger pharmaceutical companies to enhance distribution capabilities and expand market reach, which could provide upfront payments, milestone payments, and royalties as key revenue streams.

ProKidney Financial Statement Overview

Summary

Development-stage profile with minimal revenue ($744K TTM) versus very large losses (EBIT -$171.2M TTM; net income -$71.0M) and heavy cash burn (FCF -$146.7M TTM). Low absolute debt (~$4.2M) is a positive, but deeply negative equity (~-$1.01B) and declining assets increase financial risk.

Income Statement

PROK remains a pre-commercial biotech with minimal revenue: revenue was $76K in 2024 (annual) and improved to $744K in TTM (Trailing-Twelve-Months), showing better top-line traction off a small base. However, profitability is deeply negative, with large operating losses (TTM EBIT of -$171.2M and net income of -$71.0M), indicating a heavy cost structure relative to revenue. Gross profit also turned negative in TTM (gross profit of -$0.65M), reinforcing that the business has not yet reached a stable, scalable revenue model.

Balance Sheet

Leverage appears modest in absolute terms (TTM total debt of ~$4.2M), which reduces near-term debt-servicing risk. The key weakness is the capital structure: stockholders’ equity is deeply negative (TTM: about -$1.01B), which is a significant balance-sheet red flag and suggests substantial accumulated deficits and/or dilution-related accounting impacts. Total assets declined versus 2024 (from ~$441.1M to ~$351.6M in TTM), pointing to balance-sheet contraction over time.

Cash Flow

Cash burn remains substantial and persistent, with operating cash flow at -$111.8M in TTM (Trailing-Twelve-Months) and free cash flow at -$146.7M, consistent with an R&D-heavy development stage. Free cash flow improved modestly versus 2024 (positive free-cash-flow growth in TTM after a decline in 2024), but the company is still far from self-funding operations. A relative positive is that cash flow losses track net losses (free cash flow is roughly 1.2x net loss in both TTM and 2024), indicating losses are largely reflected in cash rather than being masked by non-cash items.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	744.00K	76.00K	0.00	0.00	0.00	0.00
Gross Profit	-654.00K	76.00K	0.00	-3.04M	0.00	0.00
EBITDA	-149.50M	-158.49M	-125.59M	-143.99M	-53.12M	-26.06M
Net Income	-71.03M	-61.19M	-35.47M	-108.03M	-55.15M	-26.75M
Balance Sheet
Total Assets	351.61M	441.07M	420.55M	518.00M	40.30M	16.70M
Cash, Cash Equivalents and Short-Term Investments	271.73M	358.29M	362.95M	490.25M	20.56M	4.58M
Total Debt	4.24M	3.24M	4.41M	2.40M	1.33M	1.56M
Total Liabilities	33.27M	39.44M	29.22M	13.06M	13.38M	6.84M
Stockholders Equity	-1.01B	-994.95M	-1.10B	-1.10B	26.92M	9.86M
Cash Flow
Free Cash Flow	-146.73M	-155.86M	-124.27M	-78.94M	-55.49M	-30.64M
Operating Cash Flow	-111.78M	-126.35M	-90.07M	-77.09M	-50.30M	-25.18M
Investing Cash Flow	90.95M	20.41M	-329.98M	-1.74M	-5.19M	-5.46M
Financing Cash Flow	8.06M	144.41M	-9.55M	548.52M	71.47M	19.99M

ProKidney Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.28
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PROK, the sentiment is Negative. The current price of 2.28 is below the 20-day moving average (MA) of 2.34, below the 50-day MA of 2.37, and above the 200-day MA of 2.04, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 47.23 is Neutral, neither overbought nor oversold. The STOCH value of 45.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PROK.

ProKidney Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PHAT	57 Neutral	$1.19B	-3.93	―	―	460.30%	33.03%
NRIX	54 Neutral	$1.93B	-6.36	-65.35%	―	48.32%	-1.91%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
URGN	50 Neutral	$877.20M	-5.64	―	―	8.00%	-10.15%
RLAY	50 Neutral	$1.40B	-4.36	-41.14%	―	-16.50%	33.02%
PROK	48 Neutral	$685.90M	-4.00	―	―	―	2.35%
RZLT	44 Neutral	$252.22M	-3.02	-59.23%	―	―	26.65%

ProKidney Corporate Events

ProKidney Advances Rilparencel Program and Manufacturing Expansion

ProKidney has updated its investor presentation, outlining progress and plans for rilparencel, its autologous kidney cell therapy designed to stabilize kidney function and delay or prevent dialysis in advanced chronic kidney disease patients at highest risk of kidney failure. In 2025, the company aligned with the U.S. Food and Drug Administration on an accelerated approval pathway using eGFR slope as a surrogate endpoint, reported positive Phase 2 data at a major nephrology conference, accelerated enrollment in its pivotal Phase 3 PROACT 1 trial, and expanded its dedicated manufacturing facilities to support both clinical supply and future commercial launch. Looking ahead to 2026, ProKidney aims to complete enrollment for the accelerated approval analysis by mid-year, continue generating and presenting mechanistic data, maintain regulatory dialogue under its RMAT designation in preparation for a potential biologics license application in 2027, and further build out its scalable manufacturing infrastructure, with current cash projected to fund operations into mid-2027, underscoring a period of focused execution that could be pivotal for patients, investors and partners in the kidney disease treatment landscape.

The most recent analyst rating on (PROK) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on ProKidney stock, see the PROK Stock Forecast page.

ProKidney Sells Greensboro Property for $19.1 Million

ProKidney Corp. announced that on October 17, 2025, it entered into a new purchase and sale agreement with Northpoint Development, LLC to sell its property in Greensboro, North Carolina for approximately $19.1 million in cash. This transaction, which follows a previously terminated agreement with Williams Development Group, LLC, is part of the company’s strategic efforts to manage its real estate assets effectively.

The most recent analyst rating on (PROK) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on ProKidney stock, see the PROK Stock Forecast page.