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Chinook Therapeutics, Inc. (KDNY)

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Previous Close15.90
Open15.06
Bid0.00 x 800
Ask17.88 x 800
Day's Range15.68 - 15.68
52 Week Range10.50 - 21.68
Volume5,429
Avg. Volume120,950
Market Cap664.478M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateMay 03, 2021 - May 07, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est31.71
  • Chinook Therapeutics Presents Data During the ISN World Congress of Nephrology 2021
    GlobeNewswire

    Chinook Therapeutics Presents Data During the ISN World Congress of Nephrology 2021

    Poster presentation on BION-1301 including Gd-IgA1 biomarker data in healthy volunteers from Parts 1 and 2 of the ongoing phase 1b study of BION-1301 and data from the phase 1 IV to SC bioavailability study in healthy volunteers Poster presentation on atrasentan’s effect to rapidly reduce albuminuria and downregulate intra-renal transcriptional proliferative, inflammatory and fibrotic signaling in the gddY mouse IgAN modelPoster presentation on atrasentan’s effect to attenuate human renal mesangial cell activation induced by endothelin-1 or IgAN patient immune-derived immune complexes in a translational model systemTwo informational poster presentations on the phase 3 ALIGN trial design for atrasentan in IgA nephropathy (IgAN) and the phase 2 AFFINITY trial design for atrasentan in proteinuric glomerular diseasesEncore poster presentation on CHK-336, a first-in-class oral small molecule lactate dehydrogenase A (LDHA) inhibitor with the potential to treat all subtypes of primary hyperoxaluria (PH) and other disorders arising from excess oxalate SEATTLE, April 15, 2021 (GLOBE NEWSWIRE) -- Chinook Therapeutics, Inc. (NASDAQ: KDNY), a biopharmaceutical company focused on the discovery, development and commercialization of precision medicines for kidney diseases, today announced six poster presentations at the ISN World Congress of Nephrology 2021 (WCN ’21). “The depth and breadth of our presence at this year’s WCN ’21 is a testament to Chinook’s role as a leading kidney disease company,” said Eric Dobmeier, president and chief executive officer of Chinook. “Our data demonstrating BION-1301’s ability to significantly reduce Gd-IgA1 levels in healthy volunteers, as well as the favorable pharmacodynamics of subcutaneous administration of BION-1301, position the program well to move forward in demonstrating its disease-modifying potential for IgA nephropathy patients. In addition, our preclinical poster presentations on atrasentan provide broader insights into its anti-fibrotic and anti-inflammatory properties that are additive and complementary to its proteinuria-lowering mechanism of action.” WCN21-0706: A Phase 1, Open Label, Randomized, Single Dose, Parallel Group Safety and Bioavailability Study of BION-1301 Administered by Intravenous (IV) and Subcutaneous (SC) Routes BION-1301 is a novel anti-APRIL monoclonal antibody currently in phase 1 clinical development for IgAN. Blocking APRIL is a potential disease-modifying approach to treating IgAN by reducing circulating levels of Gd-IgA1 to prevent the formation of immune complexes that deposit in the glomeruli of the kidney, causing damage. The ongoing phase 1 multi-center trial (see www.clinicaltrials.gov, identifier NCT03945318) evaluated the safety and tolerability of BION-1301 in 63 healthy volunteers in double-blinded, placebo-controlled single-ascending dose (SAD) and multiple-ascending dose (MAD) settings. Healthy volunteers in the SAD portion of the study received placebo or a single intravenous (IV) dose of BION-1301 ranging from 10 mg to 1350 mg on day 1. Healthy volunteers in the MAD portion of the study received placebo or IV doses of BION-1301 ranging from 50 mg to 450 mg on days 1, 15 and 29 (three doses total). As previously presented, BION-1301 was well-tolerated with no serious adverse events (SAEs), a pharmacokinetic (PK) half-life of approximately 33 days and demonstrated dose-dependent pharmacodynamic (PD) effects characterized by durable reductions in serum levels of IgA and IgM, with a lesser reduction in IgG. Recently analyzed data from this study in healthy volunteers also demonstrated that BION-1301 produced dose-dependent reductions in serum Gd-IgA1 levels that were greater in magnitude than previously reported for total IgA concentrations. In the MAD cohort, BION-1301 reduced Gd-IgA1 levels by 39%, 51% and 55% on Day 29 following the first two doses but prior to the third dose of BION-1301 at 50 mg, 150 mg and 450 mg, respectively, compared to a mean 6% increase in Gd-IgA1 in the placebo group. Upon further follow-up on Day 85, which was 56 days after the third and final dose of BION-1301, Gd-IgA1 reductions were sustained, with mean reductions of 24%, 48% and 70%, at 50 mg, 150 mg and 450 mg, respectively, compared to a mean 4% increase in Gd-IgA1 in the placebo group. Data figures from Day 85 were not included in the poster presentation, but can be found in Chinook’s corporate presentation located on the Events and Presentations section of Chinook’s website. Part 3 of the phase 1 study is ongoing to evaluate BION-1301 in adult IgAN patients in an open-label setting. Preliminary data from Part 3 will be presented at nephrology conferences in 2021. With the aim to reduce patient burden with a more convenient alternative administration route, BION-1301 was further studied in a single-dose phase 1 study to determine safety and bioavailability of BION-1301 administered via IV infusion or SC injection in healthy volunteers. This was a phase 1, open-label, randomized, parallel group, safety and bioavailability study of 300 mg BION-1301 administered intravenously or subcutaneously to adult healthy volunteers in the United States. Key highlights from the bioavailability study include the following: BION-1301 was well tolerated when administered by both IV and SC routes in healthy volunteers, and no injection site or infusion-related reactions were reported.The PK profile of BION-1301 was consistent with previous clinical studies and minimal differences in drug concentration were observed between administration routes after one week, following the absorption phase.After SC administration, BION-1301 absorption rate was typical of a monoclonal antibody with bioavailability of approximately 50%.Magnitude of pharmacodynamic responses were largely retained with SC dosing compared to IV dosing: SC administration generated approximately 81% of the maximum free APRIL reduction;SC administration generated approximately 75% of the maximum IgA reduction. No anti-drug antibodies (ADAs) were observed in the SC cohort Data generated in this study will be used to enable SC administration of BION-1301 in ongoing and future clinical studies. WCN21-0358: Selective ETA Antagonist Atrasentan, Rapidly Reduces Albuminuria and Downregulates Intra-renal Pro-Inflammatory and Pro-Fibrotic Transcriptional Networks in the g-ddY Mouse Model of Spontaneous IgA Nephropathy The effect of short-term treatment of selective ETA antagonist atrasentan was investigated in gddY mice, a spontaneous and accelerated model of IgAN. Four days of treatment with atrasentan reduced urinary albumin to creatinine ratio (UACR) from baseline by 28%, 62% and 63% at 10 mg/kg/day, 20 mg/kg/day and 30 mg/kg/day, respectively. This effect was statistically significant at the two higher doses. Five days of treatment with atrasentan demonstrated dose-dependent effects on intra-renal gene expression profiles, assessed by RNA sequencing analysis of the kidney cortex. Gene set enrichment analysis (GSEA) to define hallmark pathways was performed and cross-validated to the transcriptome of kidney biopsy samples from publicly available IgAN patient datasets. In the biopsies of patients with IgAN, the gene pathways found to be dysregulated in the glomeruli included a down-regulation of oxidative metabolism and up-regulation of gene pathways associated with proliferation, inflammation and fibrosis. GSEA showed that treatment with 30 mg/kg of atrasentan in gddY mice consistently reversed the gene pathways found to be dysregulated in IgAN patients. The dynamic transcriptional changes in the kidney, following only five days of treatment and prior to sustained long-term reductions in albuminuria and blood pressure that could mediate this benefit, are consistent with direct anti-inflammatory and antifibrotic effects of ETA blockade in IgAN. These results support the therapeutic potential of atrasentan in IgAN to reduce proteinuria and kidney inflammation and fibrosis, key drivers of IgAN progression. WCN21-0398: Human Renal Mesangial Cell Activation Induced by Endothelin-1 or IgA Nephropathy Patient Immune Derived Complexes is Blocked by Selective ETA Antagonist Atrasentan Human renal mesangial cell (HRMC) activation is considered the initiating intra-renal event in the pathogenesis of IgAN and occurs in response to the deposition of pathogenic galactose-deficient IgA (Gd-IgA)-containing immune complexes. This activation results in increased cellular proliferation and inflammatory cytokine secretion. The role of ETA receptor activation in HRMC activation in response to endothelin-1 (ET-1) and IgAN patient-derived immune complexes was investigated. ET-1 resulted in increased HRMC proliferation and IL-6 secretion, which was blocked by atrasentan in a concentration-dependent manner. RNA sequencing and gene set enrichment analysis of HRMCs following treatment with ET-1 identified upregulation of cell proliferation, pro-fibrotic and pro-inflammatory pathways, which were reversed with atrasentan treatment. HRMCs cultured with purified IgA-containing immune complexes isolated from IgAN patient serum, had five-fold higher proliferation compared to treatment with IgA-complexes from matched healthy controls. Atrasentan significantly attenuated the proliferation induced by IgAN patient-derived IgA-containing immune complexes. Exogenous ET-1 directly stimulates mesangial cell activation, inducing proliferative, pro-inflammatory and pro-fibrotic pathways, which can be blocked by atrasentan. Atrasentan prevented HRMC hyperproliferation in response to IgAN patient-derived immune complexes. This suggests that the autocrine action of endogenously produced ET-1 on ETA receptors contributes to mesangial cell activation resulting from pathogenic IgA-containing immune complexes. These results support the therapeutic potential of atrasentan in patients with IgAN, not only via its well characterized effect of reducing proteinuria, but also by potentially reducing mesangial cell activation, a hallmark of IgA nephropathy. WCN21-0848: A Phase 3, Randomized, Double-Blind, Placebo-Controlled Study of Atrasentan in Patients with IgA Nephropathy (The ALIGN Study) The ALIGN Study (see www.clinicaltrials.gov, identifier NCT04573478) is a global, randomized, multicenter, double-blind, placebo-controlled phase 3 clinical trial comparing the efficacy and safety of atrasentan versus placebo in patients with IgAN at risk of progressive loss of kidney function. Approximately 320 patients with biopsy-proven IgAN will be randomized to receive 0.75 mg atrasentan or placebo as a once-daily oral pill for approximately 2.5 years. Patients will continue receiving an optimized and stable dose of a RASi as standard of care. The study will also include patients that are unable to tolerate RASi therapy. The primary efficacy endpoint of the ALIGN Study is to evaluate the effect of atrasentan versus placebo on proteinuria as measured by urine protein to creatinine ratio (UPCR) from baseline to 24 weeks. Secondary and exploratory objectives include evaluating the change in kidney function over time as measured by eGFR, safety and tolerability, as well as quality of life. Chinook expects to report top-line data from the 24-week primary endpoint efficacy analysis in 2023. WCN21-0717: Atrasentan in Patients with Proteinuric Glomerular Diseases (The AFFINITY Study) The AFFINITY Study (see www.clinicaltrials.gov, identifier NCT04573920) is a phase 2, open-label, basket study to evaluate the efficacy and safety of atrasentan in patients with proteinuric glomerular disease who are at risk of progressive loss of renal function. Four initial cohorts will consist of patients with: IgAN with UPCR of 0.5 to less than 1.0 g/g, focal segmental glomerulosclerosis (FSGS), Alport syndrome and diabetic kidney disease (DKD) in combination with an SGLT2 inhibitor. Additional cohorts may be added to the study over time. Approximately 20 patients will be enrolled in each cohort to receive 0.75 mg atrasentan for 52 weeks. Patients in all cohorts will continue receiving an optimized and stable dose of a RAS inhibitor as standard of care. The AFFINITY Study will enroll patients in the United States, Australia, South Korea, the United Kingdom, Italy and Spain. The primary efficacy endpoint of the AFFINITY Study is the effect on proteinuria as measured by UPCR in patients with IgAN, FSGS and Alport syndrome and the change in albuminuria as measured by urine albumin to creatinine (UACR) in patients with DKD, from baseline to 12 weeks. Chinook expects to report data from initial cohorts of patients in the AFFINITY Study during 2022. WCN21-0612: Discovery of CHK-336: A First-in-Class, Liver-Targeted, Small Molecule Inhibitor of Lactate Dehydrogenase for the Treatment of Hyperoxaluria CHK-336, is a first-in-class, liver-targeted oral small molecule LDHA inhibitor for the treatment of PH. LDHA catalyzes the final step in the production of oxalate in the liver, and therefore LDHA inhibition has the potential to treat all forms of PH – PH1, PH2 and PH3 – as well as other disorders arising from excess oxalate. As previously presented, CHK-336 demonstrates sub-nM enzyme potency and a cellular IC50 in hepatocytes across multiple species ranging from 50 to approximately 300 nM. CHK-336 demonstrates tight LDHA binding and a very slow enzyme off-rate, to extend the duration of action and enable the potential of once-daily dosing in humans. CHK-336 was engineered with a liver-targeted distribution profile to effectively block hepatic oxalate synthesis while minimizing systemic exposures. CHK-336, dosed orally, once-daily, produced significant reductions in urinary oxalate in a mouse model of PH1, with the majority of CHK-336-treated mice reaching the normal range seen in wild-type mice. The non-clinical safety assessment of CHK-336 supports continued development and CHK-336 is currently progressing through IND-enabling GLP studies with IND submission planned for late 2021/early 2022. About Chinook Therapeutics, Inc.Chinook Therapeutics, Inc. is a clinical-stage biotechnology company developing precision medicines for kidney diseases. Chinook’s product candidates are being investigated in rare, severe chronic kidney disorders with opportunities for well-defined clinical pathways. Chinook’s lead program is atrasentan, a phase 3 endothelin receptor antagonist for the treatment of IgA nephropathy and other proteinuric glomerular diseases. BION-1301, an anti-APRIL monoclonal antibody is being evaluated in a phase 1b trial for IgA nephropathy. In addition, Chinook is advancing CHK-336, an oral small molecule LDHA inhibitor for the treatment of primary hyperoxaluria, as well as research programs for other rare, severe chronic kidney diseases. Chinook is building its pipeline by leveraging insights in kidney single cell RNA sequencing, human-derived organoids and new translational models, to discover and develop therapeutics with differentiating mechanisms of action against key kidney disease pathways. To learn more, visit www.chinooktx.com. Cautionary Note on Forward-Looking Statements Certain of the statements made in this press release are forward looking, including those relating to Chinook’s business, future operations, advancement of its product candidates and product pipeline, clinical development of its product candidates, including expectations regarding timing of initiation and results of clinical trials. In some cases, you can identify these statements by forward-looking words such as “may,” “will,” “continue,” “anticipate,” “intend,” “could,” “project,” “expect” or the negative or plural of these words or similar expressions. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, our ability to develop and commercialize our product candidates, including initiation of clinical trials, whether results of early clinical trials or preclinical studies, such as those described in this press release, will be indicative of the results of future trials, our ability to obtain and maintain regulatory approval of our product candidates, our ability to operate in a competitive industry and compete successfully against competitors that may be more advanced or have greater resources than we do, our ability to obtain and adequately protect intellectual property rights for our product candidates and the effects of COVID-19 on our clinical programs and business operations. Many of these risks are described in greater detail in our filings with the SEC. Any forward-looking statements in this press release speak only as of the date of this press release. Chinook assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release. Contact:Noopur LiffickVice President, Investor Relations & Corporate Communicationsinvestors@chinooktx.com media@chinooktx.com

  • Chinook Therapeutics to Present at Upcoming Investor Conferences
    GlobeNewswire

    Chinook Therapeutics to Present at Upcoming Investor Conferences

    SEATTLE, April 08, 2021 (GLOBE NEWSWIRE) -- Chinook Therapeutics, Inc. (NASDAQ: KDNY), a biopharmaceutical company focused on the discovery, development and commercialization of precision medicines for kidney diseases, today announced that Chinook management is scheduled to participate in the following upcoming virtual investor conferences: 20th Annual Needham Virtual Healthcare Conference – fireside chat on Wednesday, April 14th at 10:15 am EDTBloom Burton & Co. Healthcare Investor Conference – presentation on Tuesday, April 20th at 3:30 pm EDT To access the live webcasts and subsequent archived recordings of these and other company presentations, please visit the Investors section of Chinook’s website. The archived webcasts will remain available for replay on Chinook’s website for 90 days. About Chinook Therapeutics, Inc.Chinook Therapeutics, Inc. is a clinical-stage biotechnology company developing precision medicines for kidney diseases. Chinook’s product candidates are being investigated in rare, severe chronic kidney disorders with opportunities for well-defined clinical pathways. Chinook’s lead program is atrasentan, a phase 3 endothelin receptor antagonist for the treatment of IgA nephropathy and other primary glomerular diseases. BION-1301, an anti-APRIL monoclonal antibody is being evaluated in a phase 1b trial for IgA nephropathy. In addition, Chinook is advancing CHK-336, an oral small molecule LDHA inhibitor for the treatment of primary hyperoxaluria, as well as research programs for other rare, severe chronic kidney diseases. Chinook is building its pipeline by leveraging insights in kidney single cell RNA sequencing, human-derived organoids and new translational models, to discover and develop therapeutics with differentiating mechanisms of action against key kidney disease pathways. To learn more, visit www.chinooktx.com. Contact:Noopur LiffickVice President, Investor Relations & Corporate Communicationsinvestors@chinooktx.com media@chinooktx.com

  • Chinook Therapeutics Provides Business Update and Reports Fourth Quarter and Full Year 2020 Financial Results
    GlobeNewswire

    Chinook Therapeutics Provides Business Update and Reports Fourth Quarter and Full Year 2020 Financial Results

    SEATTLE, April 07, 2021 (GLOBE NEWSWIRE) -- 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 full year ended December 31, 2020. “We are executing well on our goal of building Chinook into a leading kidney disease company. 2020 was a very busy and productive year, as we in-licensed atrasentan from AbbVie, closed a $115 million financing, brought BION-1301 into our pipeline through the merger with Aduro, unveiled CHK-336, our first internally-developed program, and bolstered our precision medicine discovery and research efforts,” said Eric Dobmeier, president and chief executive officer of Chinook Therapeutics. “We are excited to have recently initiated our atrasentan phase 3 ALIGN and phase 2 AFFINITY trials and announced our collaboration with Evotec. We look forward to multiple data announcements from our BION-1301 program this year, as well as continuing to move CHK-336 towards the clinic.” Mr. Dobmeier continued, “Our team has grown over 300 percent since the beginning of 2020, and we’re continuing to execute on our hiring plans to ensure we have strong resourcing in place to advance our pipeline. Our solid cash position, which we expect to fund our operations to the middle of 2023, enables us to achieve key milestones across our programs.” 2020 and Recent Accomplishments Atrasentan Enrolled the first patient in the phase 2 AFFINITY basket trial of atrasentan, a highly potent and selective endothelin A receptor (ETA) antagonist (see www.clinicaltrials.gov, identifier NCT04573920). Chinook expects to report data from initial patient cohorts of this study in 2022. Enrolled the first patient with IgA nephropathy in the phase 3 ALIGN trial of atrasentan, (see www.clinicaltrials.gov, identifier NCT04573478). Chinook expects to report top-line proteinuria data from this study in 2023, which could support accelerated approval from the FDA.Delivered an oral presentation at the 3rd Annual Chronic Kidney Disease Drug Development (CKD3) Summit on selective ETA receptor antagonist atrasentan for the treatment of primary glomerular diseases.Entered into a license agreement with Morehouse School of Medicine for patents supporting the development of therapies in kidney diseases that disproportionately affect people of West African descent and underserved communities, including focal segmental glomerulosclerosis (FSGS) and HIV-associated nephropathy (HIVAN).Delivered a poster presentation at the American Society of Nephrology (ASN) Kidney Week 2020 Reimagined on the phase 3 ALIGN trial design for atrasentan.Entered into a license agreement with AbbVie for worldwide, exclusive rights to atrasentan. BION-1301 Completed enrollment and analysis of a phase 1 intravenous (IV) to subcutaneous (SC) bioavailability study of BION-1301, a novel anti-APRIL monoclonal antibody, in healthy volunteers. Dosed the first patient with IgAN in Part 3 of the ongoing phase 1 study of BION-1301.Delivered a poster presentation at the 57th ERA-EDTA Virtual Congress and ASN Kidney Week 2020 Reimagined on healthy volunteer data from Part 1 (single ascending dose) and Part 2 (multiple ascending dose) of the ongoing phase 1 study of BION-1301.Delivered a poster presentation at the 57th ERA-EDTA Virtual Congress on nonclinical toxicology studies of BION-1301 evaluating IV administration for up to six months and SC administration for up to one month. CHK-336 Received rare pediatric disease designation from the U.S. Food and Drug Administration (FDA) for CHK-336, an investigational oral small molecule inhibitor of lactate dehydrogenase A (LDHA), for primary hyperoxaluria (PH). Delivered a preclinical poster presentation at the ASN Kidney Week 2020 Reimagined unveiling CHK-336 with the potential to treat all subtypes of PH and other disorders arising from excess oxalate. Precision Medicine Research & Discovery Participated in an expert panel discussion at the 3rd Annual CKD3 Summit on executing precision medicine in clinical trials.Entered into a strategic collaboration with Evotec to discover and develop novel precision medicine therapies for polycystic kidney disease (PKD), lupus nephritis, IgAN and other primary glomerular diseases by leveraging the National Unified Renal Translational Research Enterprise (NURTuRE) patient biobank and Evotec’s proprietary PanHunter multi-omics platform. Presented an oral abstract at the ASN Kidney Week 2020 Reimagined on a single cell transcriptomic atlas of human autosomal dominant polycystic kidney disease (ADPKD) through Chinook's academic collaboration with the laboratory of Benjamin Humphreys, M.D., Ph.D., Joseph Friedman Professor of Renal Diseases in Medicine and Chief of Nephrology at Washington University School of Medicine in St. Louis. Corporate Appointed healthcare financial expert, Eric Bjerkholt, as chief financial officer. Appointed the following life sciences industry veterans to the Board of Directors: William M. Greenman, president and chief executive officer of Cerus Corporation; Michelle Griffin, director and audit committee chair for Adaptive Biotechnologies, Acer Therapeutics and HTG Molecular Diagnostics, Inc.; Ross Haghighat, founder, chairman and managing partner of Triton Systems, Inc.; and Dolca Thomas, M.D., executive vice president, head of research and development and chief medical officer of Equillium, Inc.Closed the merger with Aduro Biotech, Inc. on October 5, 2020 and began trading on the Nasdaq Global Select Market under the symbol "KDNY."Completed a $115 million private placement financing with top-tier healthcare investors concurrent with the merger closing. Anticipated Upcoming Catalysts Chinook expects to present Gd-IgA1 biomarker data in healthy volunteers from Part 1 (single ascending dose) and Part 2 (multiple ascending dose) of the ongoing phase 1b study of BION-1301 at the ISN World Congress of Nephrology 2021 in April.Chinook expects to present data from the BION-1301 phase 1 IV to SC bioavailability study in healthy volunteers at the ISN World Congress of Nephrology 2021 in April. Results from the study demonstrate the potential to transition to SC administration of BION-1301 in the long-term extension and phase 2 studies.Part 3 of Chinook's phase 1b study of BION-1301 is currently enrolling IgAN patients in an open-label setting, and Chinook expects to present a small subset of interim patient data in an oral presentation at the 58th ERA-EDTA Congress in June, as well as additional patient data at the ASN Kidney Week 2021 in November. CHK-336 is currently in IND-enabling studies and advancing towards an expected IND submission in late 2021 or early 2022 for the treatment of primary hyperoxaluria. Fourth Quarter and Full Year Financial Results Cash Position – Cash, cash equivalents and marketable securities totaled $250.4 million at December 31, 2020, compared to $11.2 million at December 31, 2019.Revenue – Total revenue increased by $0.8 million for both the fourth quarter of 2020 and year ended December 31, 2020 as compared to the fourth quarter of 2019 and year ended December 31, 2019. The increase was due to revenue recognized related to research and development services provided under the collaboration agreement with Lilly. Expenses – Research and development expenses were $21.8 million for the fourth quarter of 2020 and $36.1 million for the year ended December 31, 2020, compared to $9.2 million and $17.0 million, respectively, for the same periods in 2019. For the quarter and year ended December 31, 2020, the increases were primarily due to external clinical and manufacturing expenses related to the atrasentan and BION-1301 clinical programs; higher personnel expenses, including salaries, benefits and stock-based compensation expense associated with hiring staff to build out our clinical and development capabilities; and increased spending for consulting and outside services. The year-over-year increase was partially offset by expenses in the prior year period for the in-license of atrasentan, the purchase of intellectual property and know-how from a related party to support the CHK-336 program and discovery research activities.General and administrative expenses were $11.0 million for the fourth quarter of 2020 and $19.1 million for the year ended December 31, 2020, compared to $0.7 million and $3.0 million, respectively, for the same periods in 2019. For the quarter and year ended December 31, 2020, costs increased primarily due to legal, consulting and accounting costs related to the merger; an increase in personnel costs, including salaries, benefits and stock-based compensation expense due to the addition of administrative staff to buildout our public-company infrastructure; and an increase in facilities and other costs. Net Loss – Net loss for the fourth quarter of 2020 was $49.9 million or $1.24 per share and $81.6 million or $6.20 per share for the year ended December 31, 2020, compared to net loss of $34.2 million or $14.65 per share and $46.5 million or $25.48 per share, respectively, for the same periods in 2019.Cash Used in Operations – For the fourth quarter ended December 31, 2020, cash used in operations totaled $41.3 million, of which $20.1 million were non-recurring expenses related to the merger and integration with Aduro Biotech. About Chinook Therapeutics, Inc.Chinook Therapeutics, Inc. is a clinical-stage biotechnology company developing precision medicines for kidney diseases. Chinook’s product candidates are being investigated in rare, severe chronic kidney disorders with opportunities for well-defined clinical pathways. Chinook’s lead program is atrasentan, a phase 3 endothelin receptor antagonist for the treatment of IgA nephropathy and other primary glomerular diseases. BION-1301, an anti-APRIL monoclonal antibody is being evaluated in a phase 1b trial for IgA nephropathy. In addition, Chinook is advancing CHK-336, an oral small molecule LDHA inhibitor for the treatment of primary hyperoxaluria, as well as research programs for other rare, severe chronic kidney diseases. Chinook is building its pipeline by leveraging insights in kidney single cell RNA sequencing, human-derived organoids and new translational models, to discover and develop therapeutics with differentiating mechanisms of action against key kidney disease pathways. To learn more, visit www.chinooktx.com. Cautionary Note on Forward-Looking Statements Certain of the statements made in this press release are forward looking, including those relating to Chinook’s business, future operations, advancement of its product candidates and product pipeline, clinical development of its product candidates, including expectations regarding cash forecasts and timing of initiation and results of clinical trials. In some cases, you can identify these statements by forward-looking words such as “may,” “will,” “continue,” “anticipate,” “intend,” “could,” “project,” “expect” or the negative or plural of these words or similar expressions. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, our ability to develop and commercialize our product candidates, including initiation of clinical trials of our existing product candidates or those developed as part of the Evotec collaboration, whether results of early clinical trials or preclinical studies will be indicative of the results of future trials, our ability to obtain and maintain regulatory approval of our product candidates, our ability to operate in a competitive industry and compete successfully against competitors that may be more advanced or have greater resources than we do, our ability to obtain and adequately protect intellectual property rights for our product candidates and the effects of COVID-19 on our clinical programs and business operations. Many of these risks are described in greater detail in our filings with the SEC. Any forward-looking statements in this press release speak only as of the date of this press release. Chinook assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release. Contact:Noopur LiffickVice President, Investor Relations & Corporate Communicationsinvestors@chinooktx.com media@chinooktx.com CHINOOK THERAPEUTICS, INC.Consolidated Statements of Operations(in thousands, except share and per share amounts) Three Months Ended December 31, Year Ended December 31, 2020 2019 2020 2019 Revenue: Collaboration and license revenue$827 $— $827 $— Total revenue 827 — 827 — Operating expenses: Research and development 21,788 9,195 36,051 17,010 General and administrative 11,023 695 19,071 2,956 Change in fair value of contingent consideration 1,510 — 1,510 — Amortization of intangible assets 422 — 422 — Total operating expenses 34,743 9,890 57,054 19,966 Net loss from operations (33,916) (9,890) (56,227) (19,966)Other income (expense): Interest expense – related party (2) (7) (15) (33)Other income (expense), net 165 44 313 299 Change in fair value of redeemable convertible preferred stock tranche liability (18,163) (24,352) (27,696) (26,819)Loss before income tax benefit (51,916) (34,205) (83,625) (46,519)Income tax benefit 2,003 — 2,003 — Net loss$(49,913) $(34,205) $(81,622) $(46,519)Net loss per common share, basic and diluted$(1.24) $(14.65) $(6.20) $(25.48)Shares used in computing net loss per common share,basic and diluted 40,326,568 2,334,877 13,168,143 1,825,716 CHINOOK THERAPEUTICS, INC.Consolidated Balance Sheets(in thousands) December 31, 2020 2019 Assets Current assets: Cash and cash equivalents $187,750 $11,203 Restricted cash — 154 Marketable securities 59,622 — Accounts receivable 262 — Prepaid expenses and other current assets 6,447 1,174 Total current assets 254,081 12,531 Marketable securities 3,000 — Property and equipment, net and finance right-of-use asset 20,626 1,311 Restricted cash 1,750 — Operating lease right-of-use assets 55,673 1,880 Intangible assets, net 27,696 — IPR&D 39,295 — Goodwill 22,441 — Other assets 4,440 — Total assets $429,002 $15,722 Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable (including amounts due to related party of $9 and $250 at December 31, 2020 and 2019, respectively) $3,995 $939 Accrued and other current liabilities (including amounts due to related party of $192 and $489 at December 31, 2020 and 2019, respectively) 15,674 1,250 Operating lease liabilities (including amounts due to related party of $0 and $163 at December 31, 2020 and 2019, respectively) 3,045 163 Finance lease liabilities – related party — 75 Deferred revenue 95 — Total current liabilities 22,809 2,427 Redeemable convertible preferred stock tranche liability — 32,733 Contingent value right liability 13,780 — Contingent consideration related to acquisition 1,800 — Deferred tax liabilities 16,377 — Operating lease liabilities, net of current maturities (including amounts due to related party of $0 and $1,732 at December 31, 2020 and 2019, respectively) 38,709 1,732 Finance lease liabilities, net of current maturities – related party — 114 Other long-term liabilities 905 — Total liabilities 94,380 37,006 Commitments and contingencies Redeemable convertible preferred stock, $0.0001 par value; none and 65,000,000 shares authorized as of December 31, 2020 and 2019, respectively; none and 7,596,886 shares issued and outstanding as of December 31, 2020 and 2019, respectively; liquidation preference $0 and $26,000 as of December 31, 2020 and 2019, respectively — 19,835 Stockholders’ equity (deficit): Preferred stock, $0.0001 par value; 10,000,000 and no shares authorized as of December 31, 2020 and 2019, respectively; no shares issued and outstanding as of December 31, 2020 and 2019 — — Common stock, $0.0001 par value; 300,000,000 shares authorized as of December 31, 2020 and 2019; 42,282,381 and 4,501,885 shares issued and outstanding as of December 31, 2020 and 2019, respectively 4 — Additional paid-in capital 463,436 6,095 Accumulated deficit (128,829) (47,207)Accumulated other comprehensive income (loss) 11 (7)Total stockholders’ equity (deficit) 334,622 (41,119)Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) $429,002 $15,722