There was no immediate comment from Seattle-based Chinook. The firm has a 'buy' recommendation and a price target of $51 on the stock. Previously, Bloom Burton had said previously there was a 70% probability the FDA approves Chinook's atrasentan. Antonia Borovina, an analyst at Bloom Burton Securities in Toronto, declined to comment as she had not yet fully read the Muddy Waters report. There are six analysts with 'buy' recommendations for Chinook, according to Refinitiv data. Muddy Waters said Chinook's drug atrasentan has been shown to be harmful to patients’ cardiovascular health and that is was not producing the desired effect on chronic kidney disease. But immediately after Muddy Waters announced its short position, a bet the stock would decline, Chinook shares fell as low as $19.20, down 18% from the $23.40 close on Monday. The stock was last down 6.77% at $21.815 a share. LONDON, May 16 (Reuters) - Shares of Chinook Therapeutics Inc (KDNY.O) tumbled 18% and then pared losses on Tuesday after short-seller Muddy Waters said it was 'highly unlikely' that the company's treatment for chronic kidney disease would receive U.S.

Download on steep