Financial Performance - Total net revenue for Q3 2024 was $67.8 million, a 24.3% increase from $54.5 million in Q3 2023[119] - Product revenue for Q3 2024 was $55.5 million, up from $40.8 million in Q3 2023, representing a 36.1% increase[117] - Net income for Q3 2024 was $14.4 million, compared to a net loss of $13.4 million in Q3 2023, marking a significant turnaround[117] - Total net revenue for the nine months ended September 30, 2024, was $175.3 million, an increase of 34.4% from $130.4 million in the same period of 2023[119] - Net product revenue increased to $55.5 million for the three months ended September 30, 2024, compared to $40.8 million for the same period in 2023, and $158.6 million for the nine months ended September 30, 2024, compared to $116.2 million in 2023[121] Expenses and Cost Management - Operating expenses decreased to $56.0 million in Q3 2024 from $70.8 million in Q3 2023, a reduction of 20.9%[117] - SG&A expenses decreased to $42.4 million for the three months ended September 30, 2024, from $47.8 million in 2023, and to $135.0 million for the nine months ended September 30, 2024, from $145.0 million in 2023[128] - R&D expenses were $3.0 million for the three months ended September 30, 2024, down from $13.6 million in 2023, and $12.7 million for the nine months ended September 30, 2024, compared to $39.4 million in 2023[129] Strategic Restructuring - The company anticipates a one-time restructuring charge of approximately $15 to $19 million in Q4 2024, with expected annualized cash savings of over $40 million post-restructuring[107] - The workforce will be reduced by approximately 45% as part of the strategic restructuring to focus on LUPKYNIS growth and AUR200 development[107] Product Development and Market Performance - The average annualized net realizable revenue per patient for LUPKYNIS is estimated to be between $70,000 and $75,000[105] - The company recognized a $10 million milestone payment as collaboration revenue following the approval of LUPKYNIS in Japan[109] - The company is developing AUR200, a potential next-generation therapy for autoimmune diseases, with the first participant dosed in a Phase 1 study[108] - The number of patients on therapy increased to approximately 2,422 as of September 30, 2024, from approximately 1,939 as of September 30, 2023, with a 12-month persistency rate rising to 57% from 54%[122] Revenue Sources and Trends - The percentage of total net revenues from the two main specialty pharmacies was 81% for the three months ended September 30, 2024, up from 77% in 2023, and 87% for the nine months ended September 30, 2024, down from 90% in 2023[120] - License, collaboration, and royalty revenues were $12.3 million for the three months ended September 30, 2024, compared to $13.7 million in 2023, and $16.7 million for the nine months ended September 30, 2024, compared to $14.2 million in 2023[123] Financial Position and Cash Flow - Cash, cash equivalents, and restricted cash as of September 30, 2024, were approximately $37.1 million, down from $48.9 million at December 31, 2023, while investments increased to $311.6 million from $301.8 million[134] - Net cash provided by operating activities was $14.3 million for the nine months ended September 30, 2024, compared to net cash used of $47.8 million in 2023[137] - As of September 30, 2024, approximately 3.4 million common shares were repurchased for $18.6 million under the approved share repurchase program[141] Risk Factors - The company is exposed to foreign currency risk primarily with the Swiss franc, Canadian dollar, and Great Britain Pound, which could affect operating and financial results[149] - Inflation has been volatile and may continue to increase costs related to labor, manufacturing, and clinical trials, impacting overall financial performance[151] - The company does not believe that sudden changes in market interest rates would significantly affect its results of operations or cash flows due to the short-term nature of its investments[148] Other Financial Insights - The company had an $80.7 million finance lease liability related to the monoplant as of September 30, 2024, with a 10% fluctuation in the Swiss franc potentially causing an $8.1 million fluctuation in the lease liability valuation[150] - The company has not recognized any allowance for credit losses related to accounts receivable during the quarter ended September 30, 2024, indicating no issues with collectability[153] - The company's investment policy limits investments to highly rated financial institutions and aims for an overall rating of A-1 or higher by Standard & Poor's[152] - The timing between revenue recognition for product sales and receipt of payment is not significant, with standard credit terms ranging from 30 to 45 days[153] - There were no material impacts from foreign currency fluctuations on the company's financial condition or results of operations as of September 30, 2024[150] - The company monitors economic conditions and the creditworthiness of its main specialty pharmacies and collaboration partners[153]

Financial Performance - Total net revenue for Q3 2024 was $67.8 million, a 24% increase year-over-year, while net product revenue was $55.5 million, reflecting a 36% growth[1][6][7] - The company achieved $158.6 million in net product revenue for the nine months ended September 30, 2024, a 36% increase from $116.2 million in the same period of 2023[1][7] - Total revenue for the three months ended September 30, 2024, was $67,771,000, a 24% increase from $54,515,000 in the same period of 2023[28] - Product revenue for the nine months ended September 30, 2024, reached $158,604,000, compared to $116,218,000 for the same period in 2023, reflecting a 36% increase[28] - Net income for the three months ended September 30, 2024, was $14,350,000, compared to a net loss of $13,447,000 in the same period of 2023[28] - The company recorded a net income of $14.4 million or $0.10 per share for Q3 2024, compared to a net loss of $(13.4) million or $(0.09) per share in Q3 2023[1][15][16] - The company reported a basic net income per share of $0.10 for the three months ended September 30, 2024, compared to a loss of $0.09 per share in the same period of 2023[28] Cash Flow and Expenses - Cash flow from operations for Q3 2024 was $17.0 million, compared to a cash outflow of $(13.3) million in Q3 2023[1][18] - Operating expenses for the three months ended September 30, 2024, totaled $56,023,000, down from $70,778,000 in the same period of 2023, representing a 21% decrease[28] - SG&A expenses decreased to $42.4 million in Q3 2024 from $47.8 million in Q3 2023, primarily due to lower employee-related costs[1][12] - Research and development expenses for the three months ended September 30, 2024, were $3,047,000, significantly lower than $13,605,000 in the same period of 2023[28] - The company had a net cash provided by operating activities of $14,274,000 for the nine months ended September 30, 2024, compared to a net cash used of $47,773,000 in the same period of 2023[29] Market and Product Development - LUPKYNIS market penetration in the U.S. grew by 25% year-over-year, with 2,422 patients on therapy as of September 30, 2024[1][8] - AUR200, a new therapy for autoimmune diseases, began Phase 1 study in September 2024, with initial results expected in the first half of 2025[1][4] - License, collaboration, and royalty revenues included a $10 million milestone payment from Otsuka Pharmaceutical for LUPKYNIS approval in Japan[1][9] Assets and Liabilities - Cash, cash equivalents, and restricted cash decreased to $37,142,000 as of September 30, 2024, from $48,875,000 at the end of 2023[26] - Total current assets increased to $440,459,000 as of September 30, 2024, compared to $424,800,000 at the end of 2023, marking a 4% increase[26] - Total liabilities decreased to $161,359,000 as of September 30, 2024, from $170,108,000 at the end of 2023, indicating a 5% reduction[26] Future Outlook - The company anticipates a one-time restructuring charge of $15 to $19 million in Q4 2024, with expected annualized cash-based operating expense savings of over $40 million post-restructuring[1][22] - The gross margin for Q3 2024 was 91%, up from 88% in Q3 2023[1][11]

Group 1 - The biotech forum has seen significant discussions around profitable buy-write or covered call strategies on selected biotech stocks in recent months [1] - Three small biotech stocks have been highlighted positively, showing upward movement due to favorable news, indicating they currently possess strong momentum [1] - The investing group, The Biotech Forum, offers a model portfolio featuring 12-20 high upside biotech stocks, along with live chat for trade discussions and weekly market commentary [1] Group 2 - The analyst has disclosed a beneficial long position in the shares of AUPH, CORT, and VRDN, indicating a vested interest in these stocks [2] - The article expresses the author's personal opinions and does not represent any business relationship with the companies mentioned [2]

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH ) is a biopharmaceutical company focused on autoimmune diseases. Currently, AUPH’s hit product is LUPKYNIS, which is indicated for managing lupus nephritis [LN]. LN is a complication of systemic lupus erythematosus [SLE]. Thus, LUPKYNIS is an FDA-approved treatment for LN that offersMy name is Myriam Hernandez Alvarez. I received the Electronics and Telecommunication Engineering degree from the Escuela Politecnica Nacional, Quito, Ecuador, the M.Sc. degree in compu ...

When I last covered Aurinia Pharmaceuticals (NASDAQ: AUPH ) (TSX: AUP:CA ) in May, I rated the company a buy, as sales of Lupkynis seemed to have renewed growth. In the past two months, AUPH has; restructured its board, made movesScientist and trader of biotech stock. Focus on trading around events such as trial results and NDA/BLA approvals. Also covering companies in industries regulated by the FDA. Articles present my opinion on stocks, but don't constitute investment advice.Analyst’s Disclosure: I/we ha ...

Aurinia Pharmaceuticals, Inc. (NASDAQ:AUPH) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Andrea Christopher - Head, Corporate Communications & IR Peter Greenleaf - President, CEO & Director Greg Keenan - Chief Medical Officer Joe Miller - CFO Conference Call Participants Joseph Schwartz - Leerink Partners Stacy Ku - TD Cowen Ed Arce - H.C. Wainwright & Co. Operator Good day, ladies and gentlemen. Welcome to Aurinia Pharmaceuticals Second Quarter 2024 Earnings Call. [Operat ...

Aurinia Pharmaceuticals (AUPH) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this biotechnology company would post a loss of $0.17 per share when it actually produced a loss of $0.03, delivering a surprise of 82.35%.Over the last four quarters, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _____________________________________________ FORM 10-Q _____________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |------------------------------------------------------------------|----------------------- ...

Exhibit 99.1 AURINIA PHARMACEUTICALS REPORTS SECOND QUARTER AND SIX MONTHS 2024 FINANCIAL AND OPERATIONAL RESULTS • Company achieved $57.2 million in total net revenue and $55.0 million in net product revenue for the second quarter of 2024, representing year-over-year growth of approximately 38% and 34% respectively • Company generated approximately $15.8 million in free cash flow in the second quarter and had cash, cash equivalents, restricted cash and investments of $330.7 million as of June 30, 2024 • Co ...

Aurinia Pharmaceuticals (AUPH) shares ended the last trading session 6.6% higher at $5.86. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.9% gain over the past four weeks.The rise in share price was attributable to positive investor expectations for Lupkynis, the company’s sole marketed drug which is approved for treatment of adults with active lupus nephritis (LN). Sales of the drug are being driven predominant ...