ProKidney (NASDAQ:PROK) Class A stock experienced a surge of 8.58% in its after-hours trading, continuing its climb of over 500% during regular trading on Tuesday.

What Happened: Following the release of positive results from its Phase 2 trial, the after-hours trading of ProKidney stock saw an increase of 8.58%, reaching $4.05 on Tuesday. 

The stock, which closed at $3.73 on Tuesday, experienced a staggering 515% surge during the day. The trading volume also saw an increase, with 39.8 million shares traded compared to the average volume of 1.12 million.

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ProKidney, a company focused on chronic kidney disease, reported positive topline results from the Phase 2 REGEN-007 trial of Rilparencel in patients with CKD and diabetes, leading to a surge in trading volume and the subsequent increase in stock value.

Why It Matters: The recent surge in ProKidney stock value is a direct result of the company’s positive trial results. This development has not only caused an increase in trading volume but also elevated the stock’s value, making it noteworthy in the market.

Earlier in June, another company, Mineralys Therapeutics, also reported positive trial results for its investigational drug for CKD. These developments indicate a growing interest and potential in the CKD market.

Price Action: According to Benzinga Pro data, PROK soared over 500% to $3.73 on Tuesday, with an additional 8.58% gain after-hours, reaching $4.05.  

According to Benzinga Edge Stock Rankings, ProKidney stock has Momentum in the 3rd percentile. Additional performance details are available here.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo Courtesy: Melnikov Dmitriy on Shutterstock.com

Photo courtesy: Shutterstock.com