AUPH - Aurinia Pharma plummets as Q1 top and bottom-line trails consensus

Aurinia Pharmaceuticals (AUPH) down 20% after-hours after announcing financial results for the first quarter ended March 31, 2021.Revenues were $0.9M and $30K for Q1 2021 and 2020, respectively. The increase was the result of the commercial sales of Lupkynis, which began in January 2021.The company recorded net loss of $50.4M or $0.40 per share, as compared to loss of $25.9M or $0.23 per in prior year.Q1 net cash used in operating activities was $53.5M vs. $22.6M in prior year quarter, primarily due to the commercial infrastructure spend to support the launch of Lupkynis in addition to a one-time payment to a related party upon achievement of specific milestones.As of March 31, Aurinia had cash, cash equivalents and investments of $360.9M compared to $422.7M at December 31, 2020. The decrease is primarily related to the commercial infrastructure spend to support the launch of Lupkynis in addition to an upfront payment made as part

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Aurinia Pharma plummets as Q1 top and bottom-line trails consensus