Aduro Biotech, Inc. (KDNY) 10-Q Quarterly Report May 2022

SEATTLE May 12, 2022 – Chinook Therapeutics, Inc. (Nasdaq: KDNY), a biopharmaceutical company focused on the discovery, development and commercialization of precision medicines for kidney diseases, today provided a business update and reported financial results for the first quarter ended March 31, 2022.

“During the first quarter of 2022, we made strong progress advancing our pipeline of clinical, research and discovery programs for rare, severe chronic kidney diseases. We continue to enroll patients in the phase 3 ALIGN and phase 2 AFFINITY trials for atrasentan as well as the phase 1/2 trial of BION-1301, and we are pleased to have recently initiated the phase 1 healthy volunteer trial of CHK-336, our first internally-discovered program for the treatment of primary and idiopathic hyperoxaluria,” said Eric Dobmeier, president and chief executive officer of Chinook Therapeutics. “We look forward to the upcoming 59^th ERA Congress being held May 19^th – 22^nd, where we will present clinical data from both our lead programs, atrasentan and BION-1301, in patients with IgA nephropathy (IgAN).”

Recent Accomplishments and Updates

Atrasentan

Atrasentan is a potent and selective endothelin A (ET_A) receptor antagonist that has the potential to provide benefit in multiple chronic kidney diseases by reducing proteinuria and having direct anti-inflammatory and anti-fibrotic effects to preserve kidney function. The phase 3 ALIGN trial of atrasentan is currently enrolling patients with IgAN, and the phase 2 AFFINITY basket trial of atrasentan is currently enrolling patients with proteinuric glomerular diseases.

•

Enrollment of the phase 3 ALIGN trial of atrasentan continues to advance with the activation of new trial sites and expansion into additional countries. Chinook expects to report topline data from the six-month interim proteinuria endpoint analysis in 2023 to support an application for accelerated approval under Subpart H in the United States.

•

Chinook plans to present data from the IgAN patient cohort of the phase 2 AFFINITY trial in an oral presentation at the 59^th ERA Congress on May 20, 2022, and provide a program update on atrasentan during an investor conference call and webcast at 4:15 pm EDT that day. Chinook has completed enrollment of the IgAN patient cohort of this trial, and continues to enroll the other three cohorts, including patients with focal segmental glomerulosclerosis (FSGS), Alport syndrome and diabetic kidney disease in combination with SGLT2 inhibitors.

•

Chinook will deliver a mini-oral presentation at the 59^th ERA Congress on May 19, 2022 on preclinical mechanistic work describing atrasentan’s effect to block mesangial cell injury and the pathogenic transcriptional networks driving IgAN progression in a model system.

•

In March 2022, Chinook presented an overview of the phase 2 AFFINITY clinical trial at the 4^th Annual Chronic Kidney Disease (CKD) Drug Development Summit.

•

In February 2022, Chinook delivered an encore trials-in-progress presentations on the phase 3 ALIGN and phase 2 AFFINITY clinical trials at the ISN World Congress of Nephrology 2022.

The following information was filed by Aduro Biotech, Inc. (KDNY) on Thursday, May 12, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/1435049/000156459022019844/kdny-10q_20220331.htm

View differences made from one quarter to another to evaluate Aduro Biotech, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Aduro Biotech, Inc..

Continue

Assess how Aduro Biotech, Inc.'s management team is paid from their Annual Proxy

Aduro Biotech, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Rating
Learn More

Filter Sentiment:

All

Positive

Negative

Filter Category:

All

Financial

Revenue

M & A

Other

Filter Subcategory:

All

Expense

Product

Cash Flow

Geography

Other

Inside Aduro Biotech, Inc.'s 10-Q Quarterly Report:

Financial - Expense Highlight
The decrease in general and administrative expenses was primarily due to lower consulting and other professional services costs; lower employee-related costs, including salaries and benefits; and a decrease in facilities and other costs.

Financial - Expense Highlight
Change in fair value of contingent consideration and contingent value rights liabilities Change in fair value of contingent consideration and contingent value rights liabilities was a benefit of $1.0 million for the three months ended March 31, 2022, a decrease of $2.9 million compared to expense of $1.8 million the three months ended March 31, 2021.
Financial - Expense Highlight
Research and development costs include employee-related costs; licensing costs; materials and supplies; contracted research and manufacturing; consulting arrangements; allocated costs, such as facility costs; and other expenses incurred to advance our research and development activities.
Financial - Expense Highlight
At the same time, we expect our expenses to increase in connection with our ongoing development activities, particularly as we continue the research, development and clinical trials of, and seek regulatory approval for, our product candidates.
Other - Other Highlight
The increase in cash used was primarily due to purchases of marketable securities, net of proceeds from maturities of marketable securities.
Financial - Expense
Amortization of intangible assets Amortization...Read more
Revenue - Product
In April 2021, we entered...Read more
Financial - Expense
We expect that our research...Read more
Financial - Cash Flow
The following table summarizes our...Read more
Revenue - Product
The increase was due to...Read more
Other - Other
Investing Activities Net cash used...Read more
Other - Other
Financing Activities Net cash provided...Read more
Revenue - Product
We will pay the sales...Read more
Financial - Expense
We expect our research and...Read more
Financial - Shares
Share of net loss of...Read more
M & A - Other
At the effective time of...Read more
M & A - Other
Amortization of intangible assets, excluding...Read more
Revenue - Product
If we raise additional funds...Read more
Revenue - Product
Collaboration and License Revenue Total...Read more
Revenue - Product
As of March 31, 2022,...Read more
Revenue - Product
Potential milestone payments related to...Read more
Revenue - Product
The terms of such agreements...Read more
Financial - Expense
General and Administrative Expenses The...Read more
Financial - Shares
Share of net loss of...Read more
Financial - Expense
The decrease resulted from an...Read more
Revenue - Geography
However, due to a low...Read more
Revenue - Geography
We believe that a strong...Read more
Financial - Expense
Employee-related costs consist of salaries,...Read more
Financial - Expense
As a result of the...Read more
Financial - Shares
A holder of Pre-Funded Warrants...Read more
Financial - Expense
Research and development expenses represent...Read more
Other - Other
The application of systems biology...Read more
Other - Other
The pharmacokinetics of BION-1301 observed...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Aduro Biotech, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: KDNY
CIK: 1435049
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-22-019844
Submitted to the SEC: Thu May 12 2022 4:06:35 PM EST
Accepted by the SEC: Thu May 12 2022
Period: Thursday, March 31, 2022
Industry: Pharmaceutical Preparations

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/kdny/0001564590-22-019844.htm

Chinook Therapeutics, Inc. (KDNY) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

KDNY Valuations

KDNY Annual Reports

KDNY Quarterly Reports

KDNY Corporate News