NASDAQ: KDNY

Chinook Therapeutics, Inc.

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Chinook Therapeutics, Inc. (NASDAQ: KDNY) resulting from allegations that Chinook may have issued materially misleading business information to the investing public.

If you purchased Chinook securities and would like to join the prospective action, please click “Join This Class Action.”

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Details of investigation:

On May 16, 2023, Muddy Waters Research issued a report on Chinook Therapeutics, Inc., alleging that atrasentan, the Company’s lead product candidate, “has been shown to be harmful to patients’ cardiovascular health”, and that “AbbVie and Chinook seem to have systemically manipulated research findings and presentation on atrasentan to obscure these trial results.”

On this news, Chinook Therapeutics stock dropped 4.5% on May 16, 2023.

Then, on June 7, 2023, Muddy Waters Research issued a follow-up report, further alleging that Chinook has manipulated its financial reporting, particularly as it relates to SanReno Therapeutics JV, which the report alleges to be an undisclosed related Chinese entity. The report specifically alleged that “Chinook uses SanReno to overstate revenues and assets.”

On this news, Chinook Therapeutics stock declined in intra-day trading.

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Company Name: Chinook Therapeutics, Inc.
Stock Symbol: KDNY
Class Period: N/A
Court: N/A
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