Chinook Therapeutics Stock Gains 8%

Shares of Chinook Therapeutics, Inc. (KDNY) are gaining over 8% on Thursday morning. The company presented updated data from BION-1301 phase 1/2 trial in patients with IgA Nephropathy.

KDNY is currently trading at $13.70, up $1.11 or 8.82%, on the Nasdaq.

Chinook Therapeutics announced three mini-oral presentations on the BION-1301 and atrasentan clinical programs at the 59th ERA Congress 2022 being held virtually and live in Paris, France.

"The additional data we presented today at ERA from the ongoing phase 1/2 study of BION-1301 further demonstrates its disease-modifying potential in IgAN by generating durable reductions in mechanistic biomarkers and corresponding impressive proteinuria reductions within three months of initiating treatment," said Eric Dobmeier, president and chief executive officer of Chinook Therapeutics. "IgAN is a serious progressive disease for which there are limited treatment options, and the data from this trial will inform the design of a phase 3 trial of BION-1301 for patients with IgAN that we plan to initiate in 2023."

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