A medical biotech company that not all that long ago was promising to bring a giant production facility and hundreds of new jobs to Greensboro abandoned those plans and, this week, ProKidney stock – which was selling at $13 a share in August of 2023 – closed on Tuesday, April 15, at under a dollar a share, 71 cents a share to be exact.
The spectacular fall of the stock price is indicative of what happened to the once huge project plan that had Greensboro leaders very excited and had the city, Guilford County, the State of North Carolina, and even Duke Energy, promising the company millions in incentives for ProKidney to make its supposed wonder cure for kidney disease in a nearly half-billion-dollar facility in Greensboro.
Here’s a little of what the Rhino Times wrote in June of 2023 about the company: “ProKidney announced Tuesday, June 13, that it would indeed be making a $458 million investment to establish a cutting-edge biomanufacturing facility in Greensboro. In May, the Guilford County Board of Commissioners voted to offer ProKidney up to $15.3 million in economic incentives to build a facility and bring 330 jobs with an average yearly salary of $74,600 to Greensboro….And in June, the Greensboro City Council, with little fanfare, voted to offer ProKidney up to $13.2 million in economic incentives…