Aurinia Pharmaceuticals Inc.
- Open
- 16.18
- Day high
- 16.25
- Day low
- 16.00
- Prev close
- 16.11
- Volume
- 94K
- Mkt cap
- $2.1B
- P/E (TTM)
- 6.8
- EPS (TTM)
- $2.36
- P/B
- 3.5
- P/S
- 6.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$356K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions accumulating (13F)
Aurinia Pharmaceuticals Inc. (AUPH) is a Healthcare company listed on NASDAQ. The stock is up 37% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Aurinia Pharmaceuticals Inc. (AUPH) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AUPH earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $0.24 | $0.28 | +16.7% | $83M | +3.4% |
| May 7, 2026 | $0.18 | $0.25 | +38.9% | $78M | +0.9% |
| Jul 31, 2025 | $0.17 | $0.16 | -5.9% | $70M | +3.4% |
| Feb 27, 2025 | $0.03 | $0.09 | +200.0% | $60M | -3.2% |
| Nov 7, 2024 | $0.01 | $0.10 | +566.7% | $68M | +3.7% |
| Aug 1, 2024 | $0.02 | $0.02 | +20.0% | $57M | +4.0% |
| May 2, 2024 | $-0.17 | $-0.03 | +82.4% | $50M | +6.3% |
| Nov 2, 2023 | $-0.17 | $-0.09 | +47.1% | $55M | +41.6% |
| Aug 3, 2023 | $-0.18 | $-0.08 | +55.6% | $41M | +8.8% |
| May 4, 2023 | $-0.22 | $-0.18 | +18.2% | $34M | +23.5% |
| Feb 28, 2023 | $-0.27 | $-0.18 | +33.3% | $28M | +2.4% |
| Nov 3, 2022 | $-0.17 | $-0.06 | +64.7% | $56M | +54.1% |
AUPH insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 25, 2026 | Robertson Stephen P.officer: Chief Legal Officer | Sell | 20,975 | $16.97 |
| Jun 8, 2026 | Bailey Jeffrey Allendirector | Grant | 23,931 | $15.67 |
| Jun 8, 2026 | Nova Tina Susandirector | Grant | 23,931 | $15.67 |
| Jun 8, 2026 | Johnson Craig Adirector | Grant | 23,931 | $15.67 |
| Jun 8, 2026 | Goetz Kathleendirector | Grant | 23,931 | $15.67 |
| Jun 2, 2026 | TANG KEVINdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 262,682 | $15.31 |
| Jun 2, 2026 | TANG KEVINdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 343,521 | $15.28 |
| Jun 2, 2026 | TANG KEVINdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 99 | $15.34 |
| Jun 2, 2026 | TANG KEVINdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 206,005 | $15.28 |
| Jun 2, 2026 | TANG KEVINdirector, 10 percent owner, officer: Chief Executive Officer | Buy | 2,299 | $15.35 |
| May 20, 2026 | Robertson Stephen P.officer: Chief Legal Officer | Grant | 115,541 | — |
| May 20, 2026 | Hearne Michael Sofficer: Chief Financial Officer | Grant | 70,230 | $15.28 |
| May 20, 2026 | Cole Ryanofficer: Chief Operating Officer | Grant | 116,144 | — |
| May 20, 2026 | Cole Ryanofficer: Chief Operating Officer | Grant | 70,230 | $15.28 |
| May 20, 2026 | Hearne Michael Sofficer: Chief Financial Officer | Grant | 116,144 | — |
Source: AUPH SEC Form 4 filings, latest Aug 25, 2026. For informational purposes only — not investment advice.
See the full AUPH insider & 13F page →Aurinia Pharmaceuticals Inc. company profile
Overview
Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) is a commercial-stage biopharmaceutical company founded in 1993 and headquartered in Victoria, Canada. The company went public in 2014 and has evolved from a research-focused biotech into a commercial enterprise following the approval of its lead drug LUPKYNIS in 2021. Aurinia specializes in developing therapies for autoimmune diseases with significant unmet medical needs, particularly focusing on lupus nephritis, a severe kidney complication affecting lupus patients. The company has successfully transitioned from a loss-making development-stage company to profitability, generating over $235 million in revenue in 2024.
Business
Aurinia operates in the specialized biopharmaceutical sector, focusing on autoimmune and inflammatory diseases. The company's primary business revolves around LUPKYNIS (voclosporin), an oral immunosuppressive drug specifically approved for treating active lupus nephritis in adult patients. Lupus nephritis is a serious kidney complication that affects approximately 40-60% of patients with systemic lupus erythematosus (SLE), an autoimmune disease where the body's immune system attacks its own tissues. When lupus affects the kidneys, it causes inflammation that can lead to permanent kidney damage, kidney failure, and potentially death if left untreated. Traditional treatments have included corticosteroids and other immunosuppressive agents, but these often come with significant side effects and limited efficacy. LUPKYNIS works as a calcineurin inhibitor, specifically targeting the immune system's inflammatory response in the kidneys. The drug is designed to reduce proteinuria (protein in urine), which is a key marker of kidney damage in lupus nephritis patients. Clinical trials have demonstrated that LUPKYNIS can achieve faster proteinuria reduction compared to standard treatments, making it an important therapeutic option for patients who need rapid kidney protection. The company generates approximately 95% of its revenue from LUPKYNIS sales, with the remaining 5% coming from milestone payments and collaboration revenue, primarily from its partnership with Otsuka Pharmaceutical for international markets. Aurinia is also developing AUR200, a dual BAFF/APRIL inhibitor targeting B-cell mediated autoimmune diseases, currently in Phase 1 clinical trials.
Revenue model
Aurinia generates revenue primarily through direct product sales of LUPKYNIS to specialty pharmacies, hospitals, and healthcare providers in the United States. The company employs a traditional pharmaceutical sales model where it manufactures and distributes its drug through established pharmaceutical distribution channels. Patients typically receive LUPKYNIS through specialty pharmacies that handle complex medications requiring special handling, patient monitoring, and insurance coordination. The company's revenue model benefits from several factors that support pricing power and market expansion. LUPKYNIS commands a premium price due to its specialized indication and limited competition in the lupus nephritis space. The drug's ability to achieve faster proteinuria reduction compared to existing treatments provides clinical differentiation that supports its value proposition to healthcare providers and payers. Key factors that could increase margins include: 1. Growing market penetration as awareness of lupus nephritis screening improves among rheumatologists and nephrologists, 2. Better patient persistence and adherence rates, which have improved from 50% to 55% over recent years, 3. Expansion into hospital and academic medical center channels, and 4. International market expansion through the Otsuka partnership in Europe and Japan. Conversely, margin pressures could arise from: 1. Generic competition, as several companies have filed Abbreviated New Drug Applications (ANDAs) challenging Aurinia's patents, 2. Competitive threats from other autoimmune treatments, including B-cell therapies and newer immunosuppressive agents, 3. Pricing pressure from payers and healthcare systems, and 4. Manufacturing cost inflation and supply chain disruptions. The company has demonstrated improving operational efficiency, achieving positive cash flow from operations and implementing cost reduction measures including a 45% workforce reduction in 2024 that generated over $40 million in annual savings.
Competitive moat
Aurinia's competitive moat is moderate but faces several challenges. The company's primary moat stems from its regulatory exclusivity and patent protection for LUPKYNIS, with patents extending to 2037. This provides meaningful protection against generic competition in the near term, though the company is actively defending against ANDA filers who are challenging these patents. The company benefits from clinical differentiation through LUPKYNIS's proven ability to achieve faster proteinuria reduction compared to existing treatments, which is crucial for preventing irreversible kidney damage. This clinical advantage, supported by three years of real-world efficacy and safety data, provides some physician loyalty and treatment preference. However, Aurinia's moat has notable weaknesses. The lupus nephritis market is relatively small, with an estimated patient population that limits total addressable market size. The company faces competition from established immunosuppressive therapies and emerging B-cell targeted treatments like rituximab and newer agents from larger pharmaceutical companies with greater resources. The company's single-product dependence creates vulnerability, as LUPKYNIS represents essentially all of its revenue. While AUR200 is in development, it remains in early-stage trials with uncertain outcomes. Additionally, Aurinia operates in a space where larger pharmaceutical companies could develop competing therapies with superior efficacy or safety profiles. The company's commercial execution capabilities, while improving, are limited compared to major pharmaceutical companies that can leverage larger sales forces and broader relationships with healthcare providers. This constrains Aurinia's ability to maximize market penetration and defend against competitive threats from better-resourced competitors.
Risks & safety
Aurinia presents a moderate margin of safety with improving financial fundamentals but some concerns around single-product risk and competitive pressures. • Strong liquidity position: $313 million in cash and investments as of Q1 2025, providing substantial runway • Positive cash generation: Achieved positive operating cash flow of $44 million in 2024, up from negative $33 million in 2023 • Low debt burden: Debt-to-equity ratio of 0.22, indicating conservative capital structure • Improving profitability: Generated $24 million net income in Q1 2025, with EBITDA margins improving significantly • Valuation metrics: Trading at 12x EV/EBITDA and 12x P/E ratio based on recent quarters, appearing reasonably valued for a profitable biotech • Current ratio: Strong at 5.9x, indicating excellent short-term liquidity • Other considerations: Single-product dependence creates concentration risk, patent litigation with generic competitors introduces uncertainty, and small addressable market limits growth potential. However, the company's transition to profitability and strong balance sheet provide meaningful downside protection.
Recent development
Over the past few years, Aurinia has undergone significant strategic transformation from a development-stage biotech to a profitable commercial company. The most notable development was achieving consistent profitability starting in 2024, with the company generating positive operating cash flow and net income after years of losses. In late 2023, the company completed a comprehensive strategic review that included exploring potential sale or merger opportunities. While no transaction materialized, this process led to a major restructuring in 2024 where Aurinia reduced its workforce by 45%, generating over $40 million in annual cost savings. The company also ceased development of pipeline assets AUR200 and AUR300 initially, though it later resumed AUR200 development as a dual BAFF/APRIL inhibitor. The company has significantly enhanced its commercial execution for LUPKYNIS, focusing on four key growth drivers: expanding presence in academic medical centers and lupus centers, leveraging updated American College of Rheumatology treatment guidelines that recommend LUPKYNIS in first-line therapy, reinforcing long-term efficacy and safety data, and improving patient continuity of care. These efforts have resulted in improved patient persistence rates and steady revenue growth. Aurinia has also expanded internationally through its partnership with Otsuka Pharmaceutical, receiving regulatory approvals in Europe and Japan. The company received a $10 million milestone payment from Japanese approval in 2024 and expects to begin generating international revenue through this partnership. On the pipeline front, the company initiated Phase 1 trials for AUR200 in 2024, with initial results expected in Q2 2025. This represents a strategic pivot back to pipeline development after the cost reduction focus, indicating management's confidence in the commercial business supporting renewed R&D investment.
AUPH company profile · for informational purposes only — not investment advice.
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