Market Assessment
2019 could be a transformational year for Aurinia Pharmaceuticals (AUPH) from being a clinical-stage small-cap ($573M) to commercial stage biopharma, if the ongoing Phase 3 study of voclosporin (formerly ISA247) in patients with lupus nephritis ((LN)) achieves its primary clinical endpoint of improved renal response over placebo. Aurinia's scientific forte is primarily developing therapeutics for adult nephrotic diseases. Presently, voclosporin is also in Phase 2 clinical development for focal segmental glomerulosclerosis as well as dry eye syndrome.
Voclosporin is a structural analog of the calcineurin inhibitor, cyclosporin A, that has been pharmacologically altered