[SCHEDULE 13D/A] Aurinia Pharmaceuticals Inc. Amended Major Shareholder Report

Rhea-AI Filing Summary

Tang Capital Management, Kevin Tang and affiliated funds report beneficial ownership of 12,229,500 Aurinia Pharmaceuticals common shares, representing 9.2% of the class. This stake is based on 132,970,979 common shares outstanding as of February 25, 2026. The amendment also notes that Kevin Tang was appointed Chief Executive Officer of Aurinia Pharmaceuticals on March 23, 2026.

Insights

Governance and ownership analyst

Tang group discloses a 9.2% Aurinia stake and Kevin Tang becomes CEO.

The filing shows Tang Capital Management, Kevin Tang, Tang Capital Partners LP and Tang Capital Partners International LP collectively beneficially owning 12,229,500 Aurinia common shares, or 9.2% of the company, with shared voting and dispositive power.

This is a sizeable shareholder position, with Tang Capital Partners LP holding 6,990,461 shares (5.3%) and Tang Capital Partners International LP holding 5,239,039 shares (3.9%). The percentages are calculated against 132,970,979 shares outstanding as of February 25, 2026.

The amendment also records that on March 23, 2026, Kevin Tang was appointed Chief Executive Officer of Aurinia. Combining a near-10% beneficial stake with the CEO role aligns management and shareholder interests, though the actual impact depends on strategic decisions described in future company disclosures.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

Aurinia Pharmaceuticals Inc.

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

05156V102

(CUSIP Number)

Kevin Tang
4747 Executive Drive, Suite 210
San Diego, CA, 92121
858-200-3830

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

03/23/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 05156V102

1

Name of reporting person

TANG CAPITAL MANAGEMENT, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,229,500.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,229,500.00

11

Aggregate amount beneficially owned by each reporting person

12,229,500.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.2 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Tang Capital Management, LLC ("TCM") shares voting and dispositive power over such shares with Tang Capital Partners, LP ("TCP"), Tang Capital Partners International, LP ("TCPI") and Kevin Tang. The percentages used herein are based on 132,970,979 Common Shares outstanding as of February 25, 2026, as set forth in the Issuer's Annual Report filed on Form 10-K that was filed with the Securities and Exchange Commission on February 26, 2026.

SCHEDULE 13D

CUSIP Number(s): 05156V102

1

Name of reporting person

KEVIN TANG

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,229,500.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,229,500.00

11

Aggregate amount beneficially owned by each reporting person

12,229,500.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.2 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Kevin Tang shares voting and dispositive power over such shares with TCP, TCPI, and TCM.

SCHEDULE 13D

CUSIP Number(s): 05156V102

1

Name of reporting person

TANG CAPITAL PARTNERS, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,990,461.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,990,461.00

11

Aggregate amount beneficially owned by each reporting person

6,990,461.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.3 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

TCP shares voting and dispositive power over such shares with TCM and Kevin Tang.

SCHEDULE 13D

CUSIP Number(s): 05156V102

1

Name of reporting person

TANG CAPITAL PARTNERS INTERNATIONAL, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,239,039.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,239,039.00

11

Aggregate amount beneficially owned by each reporting person

5,239,039.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.9 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

TCPI shares voting and dispositive power over such shares with TCM and Kevin Tang.

SCHEDULE 13D

CUSIP Number(s): 05156V102

1

Name of reporting person

TANG CAPITAL PARTNERS III, INC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEVADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 05156V102

1

Name of reporting person

TANG CAPITAL PARTNERS IV, INC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEVADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, no par value
(b)	Name of Issuer: Aurinia Pharmaceuticals Inc.
(c)	Address of Issuer's Principal Executive Offices: #140, 14315 - 118 Avenue, Edmonton, ALBERTA, CANADA , T5L 4S6.
Item 1 Comment: This Schedule 13D/A (this "Statement") amends the Schedule 13D (the "Original Schedule 13D") filed on September 12, 2024, as amended on March 4, 2025 and March 3, 2026. Item 4 of the Statement is hereby amended and supplemented to the extent hereinafter expressly set forth. Except as amended hereby, the original disclosure set forth in the Statement shall remain unchanged. All capitalized terms used and not expressly defined herein have the respective meanings ascribed to such terms in the Original Schedule 13D.
Item 4.	Purpose of Transaction
	Item 4 of the Original Schedule 13D is hereby amended to add the following: On March 23, 2026, Mr. Tang was appointed as Chief Executive Officer of the Issuer.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TANG CAPITAL MANAGEMENT, LLC

Signature:	/s/ Kevin Tang
Name/Title:	Manager
Date:	03/25/2026

KEVIN TANG

Signature:	/s/ Kevin Tang
Name/Title:	Self
Date:	03/25/2026

TANG CAPITAL PARTNERS, LP

Signature:	/s/ Kevin Tang
Name/Title:	Manager, Tang Capital Management, LLC, General Partner
Date:	03/25/2026

TANG CAPITAL PARTNERS INTERNATIONAL, LP

Signature:	/s/ Kevin Tang
Name/Title:	Manager, Tang Capital Management, LLC, General Partner
Date:	03/25/2026

TANG CAPITAL PARTNERS III, INC

Signature:	/s/ Kevin Tang
Name/Title:	Chief Executive Officer
Date:	03/25/2026

TANG CAPITAL PARTNERS IV, INC

Signature:	/s/ Kevin Tang
Name/Title:	Chief Executive Officer
Date:	03/25/2026

FAQ

What ownership stake does Tang Capital report in Aurinia Pharmaceuticals (AUPH)?

Tang Capital Management, Kevin Tang and affiliated funds report beneficial ownership of 12,229,500 Aurinia common shares, representing 9.2% of the outstanding common shares. This percentage is calculated using 132,970,979 shares outstanding as of February 25, 2026.

How are Aurinia (AUPH) shares distributed among Tang Capital entities?

The group reports 12,229,500 shares beneficially owned in total. Tang Capital Partners LP holds 6,990,461 shares (5.3%), while Tang Capital Partners International LP holds 5,239,039 shares (3.9%), with voting and dispositive power shared with Tang Capital Management and Kevin Tang.

What change in management involving Kevin Tang is disclosed for Aurinia (AUPH)?

The filing states that Kevin Tang was appointed Chief Executive Officer of Aurinia Pharmaceuticals on March 23, 2026. This means a major shareholder representative now also leads the company’s management, combining an executive role with significant beneficial ownership.

How is the 9.2% ownership of Aurinia (AUPH) by Tang Capital calculated?

The reported 9.2% ownership is based on 12,229,500 common shares beneficially owned out of 132,970,979 common shares outstanding. The outstanding share figure comes from Aurinia’s Annual Report on Form 10-K, dated as of February 25, 2026.

Do Tang Capital entities have sole or shared voting power over Aurinia (AUPH) shares?

The filing shows shared voting and dispositive power over the reported shares. Tang Capital Management, Tang Capital Partners LP, Tang Capital Partners International LP and Kevin Tang collectively share authority over 12,229,500 Aurinia common shares, with no sole voting power reported.