ROCKVILLE, Md. & EDMONTON, Alberta - Aurinia Pharmaceuticals Inc. (NASDAQ: NASDAQ:AUPH) shared recent study results at the European Alliance of Associations for Rheumatology (EULAR) 2024, highlighting the effectiveness of LUPKYNIS (voclosporin) in treating lupus nephritis (LN), a serious autoimmune disease affecting the kidneys.
The study, which compared data from the AURA-LV and AURORA 1 clinical trials against the Aspreva Lupus Management Study (ALMS), demonstrated that a treatment regimen including LUPKYNIS, in combination with lower-dose mycophenolate mofetil (MMF) and low-dose steroids, was more effective in reducing proteinuria and steroid exposure than traditional high-dose glucocorticoid therapies.
Patients on the LUPKYNIS-based regimen saw over 50% reduction in steroid use at six months and reached a urine protein creatinine ratio (UPCR) of less than 0.5 mg/mg quicker than those on the high-dose two drug regimen. Moreover, these patients achieved a significant reduction in UPCR at any study point earlier than their counterparts in the ALMS study.
LUPKYNIS is the first oral medicine approved by the U.S. Food and Drug Administration (FDA) and the European Commission for adult patients with active LN. The medication works as an immunosuppressant and promotes stability in the kidneys, aiming to preserve kidney health without the need for chronic high-dose glucocorticoids.
Lupus nephritis disproportionately affects women and people of color, with an estimated 120,000 people in the U.S. living with the condition. Despite the severity of LN, studies indicate that about half of systemic lupus erythematosus (SLE) patients are not screened for LN, and a significant number remain untreated.
Aurinia Pharmaceuticals, a biopharmaceutical company that introduced LUPKYNIS in January 2021, is dedicated to addressing the unmet medical needs of people with autoimmune diseases. The company is headquartered in Edmonton, Alberta, with its U.S. commercial office in Rockville, Maryland.
The information presented in this article is based on a press release statement from Aurinia Pharmaceuticals Inc.
InvestingPro Insights
Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) has been making significant strides, not only in the development of its flagship product LUPKYNIS but also in its financial and market performance.
An InvestingPro Tip indicates that management has been confident in the company's direction, as evidenced by aggressive share buybacks, signaling their belief in the intrinsic value of the company. Moreover, Aurinia's balance sheet reflects a strong financial position, holding more cash than debt, which provides flexibility and stability for ongoing operations and research endeavors.
From a data perspective, Aurinia's market capitalization stands at a robust $751.84 million. The company has experienced impressive revenue growth, with the last twelve months as of Q1 2024 showing a 30.37% increase, and an even more remarkable quarterly revenue growth of 46.19% in Q1 2024. Moreover, the gross profit margins are notably high at 88.82%, which is indicative of the company's ability to manage its cost of goods sold effectively and maintain profitability on its products.
While Aurinia has not been profitable over the last twelve months, analysts are optimistic, predicting that the company will turn a profit this year. This forecast aligns with the company's growth trajectory and the potential market impact of LUPKYNIS. It is worth noting that Aurinia does not pay a dividend, allowing the company to reinvest earnings back into its core business and research development, which could be advantageous for long-term growth.
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