2024-05-02 16:49:49 ET
Summary
- AUPH reports Q1'24 net product revenues of $48.1M, representing a 13.6% increase from the previous quarter.
- AUPH's pipeline member AUR200 has not been shelved and could enter phase 1 studies in 2024 whether in AUPH's hands, or externally if the drug is out-licensed.
- AUPH bought back 3.4M shares through April 30, at an average price of $5.37 per share.
It's almost as if Aurinia Pharmaceuticals ( AUPH ) has been listening to what the market wants. When I wrote about AUPH in March, I could only rate the company a hold, as while a share buyback could support the stock, the lack of Lupkynis sales growth was a problem. I noted further there was nothing bullish about ceasing development of AUR200, which it was incurring expenses on as recently as Q4'23, when it filed an Investigational New Drug application (IND) for that compound. I now rate AUPH a buy as there is more to support the stock than a buyback, which this article discusses....
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For further details see:
Aurinia Pharma: A Welcome Change To The Thesis (Rating Upgrade)