UNITED STATES
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FORM
CURRENT REPORT
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| Item 7.01 | Regulation FD Disclosure. |
Chinook Therapeutics, Inc. (“Chinook”) is aware that the Federal Deposit Insurance Corp. (“FDIC”) has taken control of Silicon Valley Bank (“SVB”) due to liquidity concerns. Chinook holds an immaterial amount of its cash and cash equivalents with SVB and considers its exposure relating to SVB to be minimal.
The information in this Item 7.01 is being furnished herewith and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained herein shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by Chinook Therapeutics, Inc., whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Forward-Looking Statements
This Current Report on Form 8-K (“8-K”) contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act about Chinook that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this 8-K, including statements regarding Chinook’s cash and investments, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “excited,” “expect,” “going to,” “intend,” “may,” “opportunity,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions. Chinook cautions you that the foregoing may not include all of the forward-looking statements made in this 8-K.
You should not rely on forward-looking statements as predictions of future events. Chinook has based the forward-looking statements contained in this 8-K primarily on its current expectations and projections about future events and trends. These forward-looking statements are subject to risks and uncertainties described in “Risk Factors” and elsewhere in Chinook’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the U.S. Securities and Exchange Commission (“SEC”) on February 27, 2023, which is available on the SEC’s website at www.sec.gov. Additional information is available in Chinook’s periodic reports filed with the SEC. In addition, any forward-looking statements contained in this 8-K are based on assumptions that Chinook believes to be reasonable as of this date. Chinook undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this 8-K or to reflect new information or the occurrence of unanticipated events, except as required by law.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: March 10, 2023 | Chinook Therapeutics, Inc. | |||||
| By: | /s/ Eric L. Dobmeier | |||||
| Eric L. Dobmeier | ||||||
| President and Chief Executive Officer | ||||||