ProKidney Corp (PROK) Completes Re-domestication to Delaware amid Kidney Therapy Advancement

ProKidney Corp. (NASDAQ:PROK) is one of the best high-return penny stocks to buy now. On July 16, the company confirmed the completion of its corporate domestication from the Cayman Islands to the state of Delaware. The change of jurisdiction and related restructuring took effect on July 1, 2025.

A scientist wearing a lab coat and safety glasses conducting a research experiment related to biotechnology and kidney diseases.

Following the domestication, each of the outstanding Class A and Class B ordinary shares of ProKidney Cayman was converted to one share of Class A or Class B common stock of ProKidney Delaware. In addition, the company amended and restated several material agreements, including the Amended and Restated Tax Receivable Agreement, Lock-Up Agreement, and Exchange Agreement.

The domestication comes as the US Food and Drug Administration confirms the use of glomerular filtration rate (eGFR) slope, paving the way for the accelerated approval of the company’s kidney disease therapy, rilparencel. The agency also agreed that data from the Phase 3 PROACT 1 trial can be used for both accelerated and full approval pathways.

ProKidney Corp. (NASDAQ:PROK) is a late-stage biotechnology company focused on developing a cell therapy called rilparencel (also known as REACT) to treat chronic kidney disease (CKD). Their approach involves using a patient’s kidney cells to potentially preserve kidney function and delay or eliminate the need for dialysis.

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Disclosure: None. This article is originally published at Insider Monkey.