Aurinia Pharmaceuticals (AUPH) closed the last trading session at $5.16, gaining 3.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $10.14 indicates a 96.5% upside potential.The mean estimate comprises seven short-term price targets with a standard deviation of $3.13. While the lowest estimate of $6 indicates a 16.3% increase from the current price level, the most optimistic anal ...

Financial Data and Key Metrics Changes - Aurinia achieved total net revenue of $50.3 million in Q1 2024, representing a growth of approximately 46% year-over-year [9][19] - Net product revenue was $48.1 million, reflecting a significant growth of approximately 40% [9][19] - The company expects to achieve net product revenue guidance of approximately $200 million to $220 million for the year [9][10] - Operating expenses are projected to be reduced by $50 million to $55 million over the next 12 months, with total annualized operating expenses expected to be in the range of $185 million to $195 million [10][19] Business Line Data and Key Metrics Changes - The company added 448 patient start forms (PSFs) and approximately 148 new patients in Q1 2024, totaling approximately 596 PSFs compared to 466 PSFs in the prior year [11] - As of March 31, 2024, there were approximately 2,178 patients on loop kinase therapy, an increase of approximately 26% from 1,731 patients a year earlier [11][12] - Net realizable revenue per patient for LUPKYNIS is now estimated to be in the range of $70,000 to $75,000 annually, higher than the initial guidance of $65,000 [12][60] Market Data and Key Metrics Changes - The company is seeing continued revenue from Otsuka's launch activities in Europe and is working on expanding access to LUPKYNIS in Japan, with a regulatory response expected in the second half of 2024 [17] - The "Know the Signs" campaign aims to increase awareness among rheumatologists about lupus nephritis and the need for better screening practices [16] Company Strategy and Development Direction - The company is focused on driving loop kinase revenues and improving commercial execution while restructuring to achieve cash flow positivity [8][10] - The FDA has approved a label update for LUPKYNIS, which now includes long-term data, enhancing the drug's market position [14][15] - The company is exploring alternative approaches for AUR 200 after ceasing development on AUR 300, indicating a strategic pivot in its pipeline [9][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving cash flow positivity in Q2 2024, ahead of prior projections [10] - The management highlighted the importance of improving physician understanding of lupus nephritis treatment guidelines to drive long-term growth [16][55] - The company anticipates that the updated label will enhance persistency and length of therapy for patients [29][55] Other Important Information - The company reduced its employee headcount by approximately 25% in Q1 2024 as part of its restructuring efforts [10] - As of March 31, 2024, Aurinia had cash and cash equivalents of $320.1 million, down from $350.7 million at the end of 2023 [24] Q&A Session Summary Question: Implications of the updated label on conversion rates - Management believes the label update will enhance persistency and ensure the drug is utilized according to treatment guidelines, rather than significantly impacting conversion rates [29] Question: Trends in patient start forms and April performance - Management noted that PSFs in April 2024 were consistent with April 2023, with a slight year-over-year improvement driven by restarts and hospital patients [31] Question: Importance of formulary purchases in the hospital channel - Management emphasized that while PSFs are important, restarts and hospital business are emerging as significant growth areas [35] Question: Revenue guidance and seasonal expectations - Management indicated that the low end of revenue guidance would require a significant decline in summer, while strong performance in Q2 could lead to an upper range outcome [38][39] Question: Development timelines for AUR 200 - The IND for AUR 200 has been approved, and the company is moving into SAD/MAD studies [59] Question: Updated pricing expectations for LUPKYNIS - The increase in pricing expectations is attributed to improved persistency rates and small price increases over time [60]

Aurinia Pharmaceuticals (AUPH) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.17. This compares to loss of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 82.35%. A quarter ago, it was expected that this biotechnology company would post a loss of $0.18 per share when it actually produced a loss of $0.19, delivering a surprise of -5.56%.Over the last four quarters, th ...

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 March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |------------------------------------------------------------------|---------------------- ...

ROCKVILLE, Md. & EDMONTON, Alberta--(BUSINESS WIRE)--Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (Aurinia or the Company) today announced that Canadian securities regulators have granted exemptive relief for the Company’s share repurchase program, authorizing the Company to purchase up to 15 percent of its issued and outstanding shares in any 12-month period for up to 36 months, including under the Current Program. Aurinia announced on February 15th that its Board of Directors (the “Board”) had approved a ...

Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) Q4 2023 Earnings Conference Call February 15, 2024 8:30 AM ET Company Participants Andrea Christopher - Head, Corporate Communications & Investor Relations Peter Greenleaf - Chief Executive Officer Joe Miller - Chief Financial Officer Conference Call Participants Farzin Haque - Jefferies Stacy Ku - TD Cowen Ed Arce - HC Wainwright Operator Greetings. Welcome to Aurinia Pharmaceuticals' Full Year 2023 Earnings Call. At this time, all participants are in a listen-onl ...

Aurinia Pharmaceuticals (AUPH) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to loss of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.56%. 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 $0.09, delivering a surprise of 47.06%.Over the last four quarters, th ...

ROCKVILLE, Maryland & EDMONTON, Alberta--(BUSINESS WIRE)--Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (Aurinia or the Company) today provided an update on its 2023 fourth quarter and full year business performance, as well as a corporate update regarding the Company’s strategic review. This includes corporate actions designed to enhance shareholder value, including an exclusive focus on driving commercial execution of the LUPKYNIS® (voclosporin) business, and a significant share repurchase program. Effecti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________________________________ Form 10-K ___________________________________________________________________________________ ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_______ ...

Wall Street expects flat earnings compared to the year-ago quarter on higher revenues when Aurinia Pharmaceuticals (AUPH) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 15, 2024, might help the stock move higher if these key nu ...