Aurinia Pharmaceuticals(US:AUPH)2025-11-04 11:06Financial Performance - For the three and nine months ended September 30, 2025, net product sales were $70.6 million and $197.2 million, representing increases of 27% and 24% compared to $55.5 million and $158.6 million for the same periods in 2024[65]. - Total revenue for the three months ended September 30, 2025, was $73.5 million, a 8.4% increase from $67.8 million in the same period in 2024[68]. - Gross margin for the three and nine months ended September 30, 2025, was 89% and 88%, respectively, compared to 91% and 87% for the same periods in 2024[77]. - License, collaboration, and royalty revenue for the three and nine months ended September 30, 2025, was $2.8 million and $8.8 million, respectively, down from $12.3 million and $16.7 million in the same periods in 2024[73]. Cash Flow and Financial Position - Cash flows from operating activities for the nine months ended September 30, 2025, were $90.0 million, significantly up from $14.3 million for the same period in 2024[66]. - As of September 30, 2025, the company had cash, cash equivalents, restricted cash, and investments totaling $351.8 million, slightly down from $358.5 million at December 31, 2024[67]. - Cash and cash equivalents as of September 30, 2025, were $351.8 million, a slight decrease from $358.5 million at December 31, 2024[89]. - The company repurchased $12.2 million of its common shares for $98.2 million during the nine months ended September 30, 2025[89]. - The company plans to fund future operations with existing cash or future cash flows from operating activities[90]. - Additional capital may be raised through equity or debt financings if necessary, though favorable terms are not guaranteed[91]. Expenses - Selling, general and administrative (SG&A) expenses decreased to $26.2 million for the three months ended September 30, 2025, down from $42.4 million in the same period in 2024, primarily due to strategic restructuring efforts[79]. - The company expects SG&A expenses to remain lower in 2025 compared to 2024 as it realizes the full benefits of its strategic restructuring efforts[81]. - R&D expenses for Q3 2025 totaled $8.435 million, a 276% increase from $3.047 million in Q3 2024[83]. - Total R&D expenses for the nine months ended September 30, 2025, were $21.610 million, up 70% from $12.678 million in the same period of 2024[83]. - Restructuring expenses for the nine months ended September 30, 2025, were $1.6 million, down from $7.8 million in the same period of 2024[87]. - Other net expenses for Q3 2025 were $0.9 million, compared to $4.6 million in Q3 2024[88]. Future Plans and Developments - The company plans to initiate clinical studies with aritinercept in two autoimmune diseases by the end of 2025 following positive Phase 1 study results[64]. - The increase in net product sales is primarily attributed to a rise in the number of LUPKYNIS cartons sold to specialty pharmacies, driven by further market penetration[70]. - The company expects R&D expenses to continue increasing as development activities progress[85].