AUPH - Aurinia shares jump 36% on patent challenge settlement with India's Sun Pharma

• Canada-based Aurinia Pharmaceuticals ( NASDAQ: AUPH ) on Tuesday said it had reached a settlement with India's Sun Pharmaceuticals ( OTCPK:SMPQY ) over its patent challenge of its lupus nephritis treatment Lupkynis.
• AUPH shares were 36.1% higher to $5.88 after the opening bell.
• The parties agreed to file a join motion to dismiss Inter Parties Review (IPR) of patent number 10,286,036.
• AUPH and Sun also settled the patent infringement claim against Sun's dry eye disease drug Cequa.
• "Under the settlement agreement ... both parties agreed to dismiss their claims and counterclaims against each other and cease bringing any future further action against the other," AUPH said in a statement .
• The settlement agreement is contingent upon the U.S. Patent Trial and Appeal Board approving the joint motion to terminate the IPR.

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