Aurinia tightens focus after failing to find a buyer
Autoimmune diseases specialist Aurinia Pharmaceuticals (Nasdaq: AUPH) lost 24% of its market value on Thursday after presenting an update on the firm’s future.
The company has failed to find a buyer following the strategic review that it launched at the end of June last year, leading it to now announce an exclusive focus on driving commercial execution of the Lupkynis (voclosporin) business, and a significant share repurchase program.
"Aurinia is financially strong and is continuing to achieve commercial success with Lupkynis"Lupkynis is an oral medicine for Lupus nephritis, an autoimmune disease that causes inflammation in the kidney. The drug, which is subject to a collaboration with Japanese drugmaker Otsuka (TYO: 4578), recorded sales worth $158.5 million in 2023 and Aurinia is confident of its continued upward trajectory.
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