AUPH - Aurinia Pharma slips as uptake of lupus nephritis therapy slows

Aurinia Pharmaceuticals (NASDAQ:AUPH) has lost ~5.3% in the pre-market after reporting a mixed financial performance for Q3 2021. While the company beat the consensus as revenue at $14.7M showed a sequential improvement of ~122%, the earnings lagged expectations. Following the FDA approval for LUPKYNIS in January, Aurinia (AUPH) has secured over 1,265 patient start forms (PSFs) as of Nov. 03. During the quarter, the company secured 412 PSFs compared to 415 in Q2 2021, when the PSFs grew more than 60% from Q1 2021. While net loss expanded ~19.5% YoY to $50.3M as SG&A expenses grew ~43.6% to $44.1M, the cash and equivalents fell 32.2% from 2020 year-end to $286.4M, driven by several factors, including the efforts to launch LUPKYNIS. “Despite the challenge of the COVID-19 Delta variant and a slight seasonal slowdown, we saw steady increases in patient start forms and patients on treatment toward the end of the quarter and continue to see this

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Aurinia Pharma slips as uptake of lupus nephritis therapy slows