Aurinia exploring strategic alternatives, including sale
Canada-headquartered Aurinia Pharmaceuticals (Nasdaq: AUPH) saw its shares leap more than 17% to $10.77 in pre-market trading, after it said that its board of directors has initiated an exploration of strategic alternatives.
As part of this process, the board will consider a wide range of options for the company including, but not limited to, a potential sale, merger, or other strategic transaction.
Commenting on the news, SVB Securities analyst Joseph Schwartz said he has long thought of Aurinia as a potentially attractive buyout candidate, given Lupkynis (voclosporin) is its one approved asset in a large indication (lupus nephritis/LN), which could make the company an easy bolt-on acquisition by companies in the rheumatology/nephrology space.
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