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.”
Shares of Chinook Therapeutics stock dropped more than 7% in intraday trading on May 16, 2023.
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