AUPH - Aurinia Pharma in focus despite 1Q revenue beat as Omicron hurts Lupkynis sales

The commercial-stage biotech, Aurinia Pharmaceuticals (NASDAQ:AUPH) is trading lower in the pre-market Tuesday despite reporting better than expected revenue for 1Q 2022 as the company pointed to COVID impact on sales for its lupus nephritis therapy, Lupkynis (voclosporin). Following its FDA approval in Jan. 2021, Aurinia (AUPH) reported $50.0M net revenue last year including $23.4M in 4Q 2021 which implied a growth of ~60% from the third quarter. However, in the first quarter of this year, net revenue stood at $21.6M net revenue indicating a ~8% decline sequentially. Chief Executive, Peter Greenleaf noted that Lupkynis sales during the quarter were hurt by the COVID-19 impact to patients and health systems. In Q1 2022, Aurinia (AUPH) added 461 patient start forms (PSFs) vs. 257 in the prior year quarter while total PSFs since the start of the year reached 647 as of May 06. In contrast, 4Q 2021 PSFs stood at

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Aurinia Pharma in focus despite 1Q revenue beat as Omicron hurts Lupkynis sales