Welcome to our dedicated page for Aurinia Pharmaceuticals news (Ticker: AUPH), a resource for investors and traders seeking the latest updates and insights on Aurinia Pharmaceuticals stock.
Aurinia Pharmaceuticals Inc (symbol: AUPH) is a cutting-edge biopharmaceutical company headquartered at 5120-75 street, Edmonton, Canada. Specializing in the treatment of serious diseases with high unmet medical need, Aurinia is committed to providing innovative therapeutic solutions to patients worldwide. The company's flagship product, LUPKYNIS (voclosporin), is an investigational drug designed for the treatment of lupus nephritis (LN), a severe renal complication of lupus. This groundbreaking treatment underscores Aurinia's focus on developing life-changing medications.
In recent years, Aurinia Pharmaceuticals has made significant strides in its research and development efforts, particularly in the United States, where it derives the majority of its revenue. The company has forged strategic partnerships with leading healthcare organizations and continues to explore new avenues for growth and innovation.
Financially, Aurinia has demonstrated strong performance, with consistent revenue growth driven by its robust pipeline of investigational drugs. The company's commitment to advancing its clinical programs and securing regulatory approvals positions it well for sustained success in the biopharmaceutical industry.
With a dedicated team of experts and a clear vision for the future, Aurinia Pharmaceuticals is poised to make a lasting impact on global healthcare. Investors and stakeholders can stay updated on the latest developments, financial results, and strategic initiatives through the company's regular news updates and investor relations communications.
Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) has announced the dosing of the first participant in a Phase 1a single ascending dose (SAD) study of AUR200, a potential best-in-class therapy for autoimmune diseases. AUR200 targets both BAFF and APRIL, and is believed to be more potent with higher binding affinity compared to similar molecules. The study aims to assess safety, tolerability, pharmacokinetics, and biomarker changes in healthy volunteers, with data expected in the first half of 2025.
Aurinia plans to develop AUR200 for diseases with few market entrants, including one larger indication and one smaller indication meeting FDA criteria for orphan and rare diseases. The company will fund this development using available cash flow, without impacting post-restructuring operating expense targets.
Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference in New York City from September 9-11, 2024. The company's management team will engage in one-on-one meetings with investors and take part in a fireside chat and Q&A session on Tuesday, September 10, at 10:30 AM EST.
This event provides an opportunity for Aurinia to showcase its developments and interact with potential investors. However, it's worth noting that the fireside chat and Q&A session will not be webcast, limiting access to attendees present at the conference.
Aurinia Pharmaceuticals (NASDAQ: AUPH) shareholder Lucien Selce, owning 2.2% of shares, has called for the resignation of CEO Peter Greenleaf and two other directors following the 2024 Annual General Meeting results. Four of nine directors, including Greenleaf, failed to receive majority votes. Selce criticizes the company's excessive spending, lack of R&D investment, and ineffective strategy. He highlights concerns about LUPKYNIS sales, potential generic competition, and management's disregard for shareholder interests. Selce proposes immediate firm resignations, appointment of two shareholder representatives, board size reduction, and an Extraordinary General Meeting. He emphasizes the need for urgent action to rectify issues and warns against acquiring assets that could jeopardize financial stability.
Aurinia Pharmaceuticals reported strong Q2 2024 financial results, with total net revenue of $57.2 million, up 38% year-over-year. Net product revenue reached $55.0 million, a 34% increase. The company generated $15.8 million in free cash flow and had $330.7 million in cash and investments as of June 30, 2024. Aurinia narrowed its 2024 net product revenue guidance to $210-$220 million. The company also announced plans to advance AUR200, a potential next-generation therapy for autoimmune diseases. LUPKYNIS showed strong growth with 2,336 patients on therapy, a 22% increase from the previous year. Aurinia expects Japanese regulatory approval for LUPKYNIS in the second half of 2024.
Aurinia Pharmaceuticals (NASDAQ: AUPH) has announced it will release its second quarter 2024 financial and operational results on Thursday, August 1, 2024, before markets open. The company's management team will host a conference call and webcast at 8:30 am ET on the same day to review the results and provide a general business update. Interested participants can join via phone or audio webcast, with a replay available on Aurinia's website afterwards.
ILJIN SNT Co., , a major shareholder of Aurinia Pharmaceuticals (NASDAQ: AUPH), issued an open letter urging the company's board to respect the shareholder votes from the recent AGM. The 2024 AGM saw four directors, including CEO Peter Greenleaf, receiving less than majority support, triggering a call for their resignations as per the company's Majority Voting Policy. ILJIN emphasizes the importance of this change to enhance management performance and improve the company's stock performance. They plan to remain vigilant and advocate for new directors who can implement strategic changes to restore shareholder value.
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.
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