Aurinia Pharmaceuticals Inc - AUPH STOCK NEWS

Aurinia Pharmaceuticals (AUPH) reported its Q2 2021 financial results, showing significant growth due to the commercial launch of LUPKYNIS for lupus nephritis. Total revenue reached $6.6 million, a sharp increase from $29,000 in Q2 2020. The company anticipates annual net revenue of $40 to $50 million for LUPKYNIS in 2021, setting the stage for strong growth in 2022. However, net losses widened to $47 million or $0.37 per share, up from a loss of $26.5 million in the same quarter last year. Aurinia had $323.7 million in cash as of June 30, 2021, supporting its commercial and R&D activities.

Aurinia Pharmaceuticals (NASDAQ: AUPH) will announce its second quarter 2021 financial results on August 5, 2021, after market close. Management will host a conference call at 4:30 p.m. EDT to discuss these results and provide a business update. Interested participants are invited to join the call by dialing +1-877-407-9170 or via an audio webcast available on the company's website.

Aurinia is focused on therapies for serious diseases, particularly lupus nephritis, and has launched LUPKYNIS™, the first FDA-approved oral therapy for this condition.

Aurinia Pharmaceuticals (NASDAQ: AUPH) will voluntarily delist its common shares from the Toronto Stock Exchange effective July 30, 2021. This decision follows that over 94% of its trading volume over the past year occurred on the Nasdaq. The company believes that maintaining a dual listing is no longer justified by trading volume and expects the transition to a single listing to enhance shareholder value. The Nasdaq will continue to offer adequate trading access for Canadian investors. Shareholder approval is not needed due to the presence of an acceptable alternative market.

Aurinia Pharmaceuticals (NASDAQ: AUPH) has awarded five grants of $50,000 each to non-profit organizations for patient navigation programs aimed at disadvantaged communities at risk of developing systemic lupus erythematosus (SLE) and lupus nephritis (LN). The programs will help improve access to diagnosis and treatment adherence. Launched on July 1, these initiatives will focus on cities including Atlanta, Brooklyn, Cleveland, Indianapolis, and Philadelphia. The goal is to enhance patient outcomes through education and support tailored to underserved populations.

Aurinia Pharmaceuticals (AUPH) announced that its partner, Otsuka Pharmaceutical Europe Ltd., has submitted a Marketing Authorization Application for voclosporin to treat lupus nephritis to the European Medicines Agency. Voclosporin, approved by the FDA in January 2021, is currently marketed in the U.S. as LUPKYNIS. Aurinia's collaboration with Otsuka includes a $50 million upfront payment and potential milestone payments, with tiered royalties between 10-20% based on sales. Lupus nephritis significantly impacts patients, particularly among Black and Hispanic populations.

Aurinia Pharmaceuticals has appointed Dr. Brinda Balakrishnan to its Board of Directors effective June 14, 2021. Dr. Balakrishnan currently serves as Group Vice President at BioMarin Pharmaceutical, where she oversees corporate strategy and business development. Her extensive background in biotech, particularly in rare diseases, is expected to enhance Aurinia's strategic direction and support its mission to treat autoimmune diseases like lupus nephritis. This move is seen as critical in positioning the company for future growth in the biopharmaceutical sector.

Aurinia Pharmaceuticals announced that all eight incumbent directors were re-elected during the annual general meeting held on June 7, 2021. The voting results showed a strong endorsement, with Peter Greenleaf receiving the highest approval at 92.18%. The Company also confirmed that all other matters voted on were approved. For detailed voting results, stakeholders can refer to the filings on SEDAR and EDGAR.

Aurinia Pharmaceuticals presented significant findings from its Phase 3 AURORA 1 study at the ERA-EDTA 2021 Congress. The analysis highlighted that voclosporin, when combined with MMF and low-dose steroids, achieved statistically significant renal response rates for lupus nephritis patients, even at stringent urine protein creatinine ratio (UPCR) targets. The study demonstrated that 40.8% of patients met the ≤0.5 mg/mg UPCR target versus 22.5% in the control group. LUPKYNIS, the first FDA-approved oral treatment for active lupus nephritis, showed a favorable safety profile with no unexpected adverse events.

Aurinia Pharmaceuticals (NASDAQ: AUPH) announced that its executive management will participate in a fireside chat at the Jefferies Virtual Healthcare Conference on June 3, 2021, at 11:30 a.m. ET. Interested parties can access the live audio webcast via the 'News/Events' section on the Aurinia corporate website. A playback of the event will also be available after the live session. Aurinia focuses on therapies for serious diseases with high unmet needs and has developed LUPKYNIS™ (voclosporin), the first FDA-approved oral treatment for adult patients with active lupus nephritis.