ProKidney Corp (PROK) has been around since 2015 but a SPAC converted them into a publicly traded company in 2021(ish). They currently have a single drug, rilparencel. This is derived by taking a patients kidney cells and doing something to them and injecting them back into the kidneys. Currently, this is done with an injection in both Kidneys but there is also an ongoing trial to test a single injection with a second injection only if a patient continues to decline.
The main trial that is ongoing is PROACT 1. This trial is currently on track to be evaluated in mid-2027. This is also the timeline that ProKidney says they have funding until. If the trial meets the criteria that has been set forth, they should be able to potentially start commercializing their product by 2028. If you are going to invest in this stock, look for 2027 to be the pivotal year. If the trial goes well and they are able to get approval to start selling rilparencel, they should be able to start making money but otherwise they will probably run out of money and need to raise more funds so I am expecting this will either be a +10x or a -90% situation by 2027. Other things that could help increase the stock price before that point would be commercialization deals with other companies that would be willing to pay ProKidney to be the commercialization partner.