Aurinia Pharmace Stock Price, News & Analysis

Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) announced the grant of inducement stock options and restricted stock units (RSUs) to four new employees. A total of 111,620 stock options, exercisable at $10.96 per share, and 68,170 RSUs were awarded, effective April 3, 2023. The options have a ten-year term and vest over three years, while the RSUs vest in three equal annual installments. This grant follows Nasdaq Listing Rule 5635(c)(4) and aims to incentivize new talent as the company continues to develop therapies for autoimmune and rare diseases, including LUPKYNIS®, the first FDA-approved oral therapy for lupus nephritis.

Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) announced the grant of inducement stock options and restricted stock units (RSUs) to three new employees. The inducement stock options total 89,830 shares at an exercise price of $8.99, the closing price on March 3, 2023. The RSUs granted amount to 54,850 shares. The options vest over three years, with one-third vesting after one year and the remainder vesting in equal monthly installments. The RSUs vest in three equal annual installments. This move complies with Nasdaq Listing Rule 5635(c)(4) and indicates Aurinia's commitment to attracting talent as it advances treatments for autoimmune and rare diseases.

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) reported a significant increase in financial performance for the fourth quarter and full year 2022. Total net revenue reached $28.4 million for Q4 2022, a 21% increase from Q4 2021, and $134.0 million for the full year, reflecting a 194% growth year-over-year. The company’s cash and equivalents stood at $389.4 million at year-end. Aurinia maintains revenue guidance for 2023 at $120 to $140 million from sales of LUPKYNIS, indicating continued growth. Despite a net loss of $108.2 million for the year, the company has sufficient resources to support ongoing operations and expansion efforts.

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) announced that CEO Peter Greenleaf will present at the Oppenheimer 33rd Annual Virtual Healthcare Conference from March 13-15, 2023. His presentation is scheduled for March 14, from 9:20 to 9:50 AM ET. Interested individuals can access the live audio webcast via the Investors section of the Aurinia website.

Aurinia is dedicated to addressing autoimmune, kidney, and rare diseases, having launched LUPKYNIS® (voclosporin) in January 2021 as the first FDA-approved oral treatment for lupus nephritis.

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) will release its financial and operational results for Q4 and full year 2023 on February 28, 2023, before market opening. A conference call/webcast is scheduled for 8:30 am ET the same day to discuss these results and offer a business update. Participants can join by dialing 877-407-9170 or accessing the audio webcast on Aurinia's website. The company, headquartered in Victoria, British Columbia, focuses on therapies for serious diseases, having launched LUPKYNIS® in January 2021, the first oral treatment approved by the FDA for active lupus nephritis.

Aurinia Pharmaceuticals announced the grant of inducement stock options and restricted stock units (RSUs) to 7 new employees. The options allow the purchase of 70,070 common shares at $9.05 each, the closing price on February 3, 2023. These inducements are in accordance with Nasdaq Listing Rule 5635(c)(4) and mark a strategic move to attract talent. The stock options have a 10-year term, vesting over three years, while the RSUs will vest in three equal annual installments. Aurinia continues to focus on therapies for diseases with high unmet medical needs, including its FDA-approved treatment for lupus nephritis.

Aurinia Pharmaceuticals (NASDAQ: AUPH) announced that the Patent Trial and Appeal Board (PTAB) has terminated the Inter Partes Review (IPR) related to its U.S. Patent No. 10,286,036. This patent is associated with LUPKYNIS, the first FDA-approved oral therapy for lupus nephritis (LN), a serious condition affecting many patients with systemic lupus erythematosus (SLE). With approximately 200,000-300,000 individuals in the U.S. diagnosed with SLE, around 50% may develop LN, emphasizing the therapeutic importance of LUPKYNIS for these patients.

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) announced the allowance of a new patent for its product LUPKYNIS by the US Patent and Trademark Office, enhancing its dosing regimen for lupus nephritis treatment. This patent, along with a similar notice from the European Patent Office, could protect LUPKYNIS until 2037, extending its market exclusivity. The patent specifics align with FDA guidelines and aim to improve patient outcomes through precise eGFR-based dosing. CEO Peter Greenleaf emphasized the importance of this intellectual property in strengthening their market position.

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) reported preliminary unaudited net revenues of approximately $28.4 million for Q4 2022, totaling $134.0 million for the full year. Net product revenues were around $28.3 million and $103.5 million respectively. The company reiterates its 2023 net product revenue guidance forecast of $120-$140 million. As of December 31, 2022, Aurinia held approximately $388.7 million in cash and equivalents. The number of patients on LUPKYNIS therapy increased to 1,525 by year-end.