Chinook Therapeutics shares rise on promising results for kidney disease drugs from B.C. company

Shares in Chinook Therapeutics Inc. rose for a second straight day Friday after the Canadian-American drug developer reported promising preliminary results for two drugs it is developing to treat a rare kidney disease.

Chinook’s Nasdaq-traded stock rose 10 per cent on Thursday on the BION-1301 news and 8.4 per cent Friday after publication of the atrasentan data. It closed the week at US$15.01. Chinook is running a separate, advanced efficacy human trial for atrasentan involving 320 patients, with half of participants set to receive the drug and the balance taking a placebo. Results are expected in 2024. Mr. Dobmeier said this week’s results were from “more of a signal-seeking trial” adding that despite the lack of a control group, “it really does provide strong evidence that this drug is working well in IgAN patients.

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