Chinook Therapeutics, Inc.
Company Name | Chinook Therapeutics, Inc. |
Stock Symbol | KDNY |
On May 16, 2023, Muddy Waters Research published a report alleging that Chinook’s lead product candidate, atrasentan, “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’s stock price fell $1.64 per share, or 7%, to close at $21.76 per share on March 16, 2023, thereby injuring investors.
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