Aurinia Pharmace Stock Price, News & Analysis

Aurinia Pharmaceuticals (NASDAQ: AUPH) announced participation in key investor healthcare conferences. The management team will engage in one-on-one meetings with investors at the Leerink Partners Therapeutics Forum in Boston on July 9-10, 2024. Additionally, they will attend the 3rd Annual H.C. Wainwright Virtual Kidney Conference on July 15, 2024. These events aim to foster investor relations and provide updates on Aurinia's therapeutic advancements.

Aurinia Pharmaceuticals announced the results of its 2024 annual general meeting held on June 14, 2024. Shareholders re-elected five of nine incumbent directors. Four directors, including CEO Peter Greenleaf, received less than majority support and have submitted conditional resignations. The Board will decide on these resignations within 90 days. The re-appointment of PricewaterhouseCoopers as the independent auditor was approved. However, the advisory vote on executive compensation and the proposed amendment to the equity incentive plan did not receive majority support. The current equity incentive plan remains unchanged. Aurinia is committed to enhancing shareholder value and advancing its lupus nephritis treatment, LUPKYNIS.

Aurinia Pharmaceuticals presented data at the EULAR Congress 2024 showing the safety and efficacy of LUPKYNIS® (voclosporin) for treating lupus nephritis (LN). The data, from the AURORA Clinical Program, demonstrated that a triple immunosuppressive therapy using LUPKYNIS plus lower-dose MMF and low-dose steroids reduced proteinuria and steroid exposure more effectively than a dual therapy with high-dose glucocorticoids. Results indicated a >50% reduction in steroid exposure and faster achievement of urine protein creatinine ratio (UPCR) <0.5 mg/mg at six months. These findings support guidelines recommending LUPKYNIS as an initial therapy for active LN.

Aurinia Pharmaceuticals (NASDAQ: AUPH) has issued a response to a letter from Lucien Selce, raising concerns about his proposals and credibility. The company highlights its strategic focus on commercial execution, maximizing free cash flow, and advancing its autoimmune pipeline. Aurinia reports having over $320M in cash and equivalents and being debt-free. The company criticized Selce's lack of transparency and specific strategy, noting his concerning background in illegal activities. Aurinia supports the re-election of its current board, as recommended by Glass Lewis. Recent positive business developments include a 46% increase in total net revenue and a 40% rise in net product revenue year-over-year.

Aurinia Pharmaceuticals (NASDAQ: AUPH) has filed a supplement to its Proxy Statement dated June 3, 2024. The supplement aims to reduce the proposed increase in shares reserved under the Equity Incentive Plan from 11,375,000 to 8,500,000. The revised total increase of 8,500,000 Plan Shares now represents 22.7% of total shares outstanding as of April 30, 2024. The supplement amends the Proxy Statement to decrease the number of Plan Shares from 35,190,115 to 32,315,115. Shareholders are encouraged to read the supplement alongside the Proxy Statement. The document is available on Aurinia's website and on EDGAR and SEDAR+.

Lucien Selce, who owns 2.2% of Aurinia Pharmaceuticals (NASDAQ: AUPH), has urged shareholders to withhold support for CEO Peter Greenleaf and the current Board of Directors in the upcoming AGM on June 14, 2024. Selce accuses the Board of manipulating AGM dates to benefit from stock-based compensation and depriving certain shareholders of their voting rights. A leading proxy advisory firm, ISS, has also recommended withholding support for three directors and voting against proposed executive compensation. Selce highlights the stock's decline from $10.71 to $5.42 and suggests a new Board and CEO to rejuvenate Aurinia's performance and governance.

Aurinia Pharmaceuticals (NASDAQ: AUPH) announced its participation in the 2024 Jefferies Global Healthcare Conference in New York, scheduled from June 4-6, 2024.

The company's management will engage in one-on-one meetings with investors and deliver a presentation on June 5 from 8:00 to 8:25 AM Eastern Time.

A live webcast of the session will be accessible via the Investor section of Aurinia's website.

Aurinia Pharmaceuticals (NASDAQ: AUPH) announced the cost-effectiveness of LUPKYNIS® (voclosporin) for treating lupus nephritis (LN) at the National Kidney Foundation Spring Clinical Meeting 2024. The updated analysis, consistent with a 2021 assessment, utilized the ICER AnalyticsTM LN model and found LUPKYNIS to be below the $150,000 willingness-to-pay threshold, costing $88,076 per QALY and $77,643 per evLYG for adults with active LN. For Black, Hispanic, and Latino patients, costs were $77,436 per QALY and $67,828 per evLYG. Additional data from the AURORA clinical program and the Enlight-LN registry highlighted the drug's sustained efficacy and reduced steroid use over three years. A propensity analysis indicated superior proteinuria reduction and decreased exposure to toxicities versus high-dose glucocorticoid regimens.

Aurinia Pharmaceuticals Inc. presented data at the Congress of Clinical Rheumatology East 2024, reinforcing the safety and efficacy of LUPKYNIS in treating lupus nephritis. The studies showed that LUPKYNIS in combination with standard care reduced toxicities and proteinuria compared to conventional treatments. Black patients experienced improved outcomes with LUPKYNIS.