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  • Aurinia Pharmaceuticals (AUPH) Stock Gains After Hours Following Board Realignment

    Aurinia Pharmaceuticals (AUPH) Stock Gains After Hours Following Board Realignment

    Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) shares yesterday demonstrated remarkable tenacity on the US stock charts. Following a little 0.77% increase to $6.58 during the regular session, AUPH shares rose 2.69% to $6.76 in after-hours trading. The primary cause of the increase was the news that the company was reorganizing its board of directors.

    Aurinia Reorganizing Its Board

    In an effort to better align the company’s governance with shareholder interests, Aurinia Pharmaceuticals’ Board of Directors underwent a strategic restructure. With less than majority support at the Annual General Meeting, CEO and President Peter Greenleaf resigned provisionally from the Board in 2024. Nevertheless, he is still on the Board.

    The Board, after thorough deliberation, concluded that Mr. Greenleaf’s continued presence as a Director is essential for the company’s ongoing focus on commercial execution, free cash flow generation, and pipeline advancement. In a notable appointment, Kevin Tang, President of Tang Capital Management, LLC, joined the Board.

    Mr. Tang has over twenty years of expertise in the biopharmaceutical industry as an investor, leader, and regulator. In the meanwhile, the resignations of Brinda Balakrishnan, M.D., Ph.D., R. Hector MacKay-Dunn, J.D., K.C., and Daniel G. Billen, Ph.D., were accepted by the Board despite their lack of majority support.

    Board Composition and Future Focus

    The restructured AUPH Board now comprises seven members, including:

    • Jeffrey A. Bailey;
    • Robert T. Foster, Pharm.D., Ph.D., DSc;
    • Peter Greenleaf;
    • David R.W. Jayne, M.D., FRCP, FRCPE, FMedSci;
    • Jill Leversage;
    • Karen Smith, M.D., Ph.D., MBA, LLM;
    • Kevin Tang

    This refreshed leadership team is expected to steer Aurinia toward future success.

    Advancing the Pipeline: AUR200 Study Initiation

    In parallel to the Board restructuring, Aurinia marked a critical milestone in its drug development efforts. AUPH has started a Phase 1a single ascending dose (SAD) research for AUR200, an autoimmune disease treatment that has the potential to be the best in its class.

    Preliminary findings are expected in the first half of 2025, and the trial will assess the safety, tolerability, pharmacokinetics, and biomarker alterations in healthy volunteers. The results of this trial will play a major role in determining how AUR200 is developed clinically in the future. AUR200 is well-positioned to fill important gaps in the treatment of autoimmune illnesses, especially in markets with little competition.

  • Aurinia Pharmaceuticals Inc. (AUPH) is down in the Pre-market; here is why?

    Aurinia Pharmaceuticals Inc. (AUPH) is down in the Pre-market; here is why?

    Aurinia Pharmaceuticals Inc. (AUPH) declined in the pre-market after announcing its fourth quarter and fiscal 2021 results. AUPH values at $13.10, losing more than 20% compared to yesterday’s closing price. The stock closed at $15.98 at the end of the last trading session. The stock volume traded in the last trading session was around 3.01 million shares. The current market cap of the company is around $2.11 billion.

    AUPH: Q4 and Fiscal 2021 Key Financials

    • Aurinia Pharmaceuticals Inc.’s revenue in Q4 2021 was $23.4 million. It is a decrease of more than half compared to the revenue of $50 million in Q4 2020.
    • Fiscal 2021 revenue was $45.6 million, which is slightly less than the revenue of $50 million in fiscal 2020. Otsuka’s $50.0 million advance payment mostly accounted for the company’s total revenue for the quarter and year ending December 31, 2020.
    • The company’s net loss in Q4 2021 was around $33.3 million, compared to the net loss of $8.1 million in Q4 2020.
    • AUPH’s net loss in fiscal 2021 was around $181 million, compared to the net loss of $102.7 million in fiscal 2020.
    • The Q4 2021 loss per share was $0.0.25, less than $0.6 of Q4 2020.
    • For fiscal 2021, the loss per share was $1.40, compared to $0.87 in fiscal 2020.

    AUPH CEO’s Remarks

    According to Aurinia’s President and CEO, Peter Greenleaf, the company’s revenue doubled in the fourth quarter of 2021 because of increased LUPKYNIS patient start forms, conversion rates, and payor coverage. Our success in raising awareness, acceptance, and access to LUPKYNIS has been quite positive despite the unexpected COVID challenges that differ by geographic location.

    AUPH 2022 Guidelines

    According to its guidance, the Company expects a net revenue range of $115 to $135 million from LUPKYNIS sales for the fiscal year 2022. This range is based on assumptions about the influence of COVID-19 on the existing business, and it implies an increase in net revenue from sales of LUPKYNIS of more than 150-200% compared to fiscal 2021.

    Conclusion

    The success of AURORA 2 gave the company momentum to enter 2022. The company focused on the sale of the LUPKYNIS and aimed to gain maximum revenue from the product. 2022 could be an incredible year to roll out a new product.