AUPH - Aurinia falls after lower-than-expected sales outlook for 2022

Despite beating Street forecasts with its Q4 2021 financials, Aurinia Pharmaceuticals (NASDAQ:AUPH) has lost ~20% in the pre-market Monday after the commercial-stage biopharmaceutical company disappointed investors with its sales outlook for 2022. Aurinia (AUPH), which commercializes Lupkynis (voclosporin), an FDA-approved treatment for adults with active lupus nephritis, reported $23.4M net revenue for the quarter, indicating ~60% growth from the third quarter. However, on a year-over-year basis, the net revenue has slipped ~53%. Despite the impact of COVID-19 and challenges in the first year of a product launch, "we are very pleased with the progress we have made to ensure awareness, adoption, and access to LUPKYNIS.,” chief executive Peter Greenleaf said. A conference call on earnings is scheduled for Monday at 8.30 AM EST. Annual net revenue for 2021 reached $45.6M implying a decline of ~9% YoY. Meanwhile, the SG&A expenses for the quarter and full-year 2021 stood at $44.2M and $171.4M indicating ~14%

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Aurinia falls after lower-than-expected sales outlook for 2022