Categories Earnings, Health Care

Aurinia Pharmaceuticals (NASDAQ: AUPH): Q3 2019 Earnings Snapshot

— Aurinia Pharmaceuticals (NASDAQ: AUPH) reported a third-quarter 2019 loss of $0.21 per share versus a loss of $0.15 per share expected.

— Revenue plunged by 39% to $230,000 versus $50,000 expected. The top line was hurt by nil contract revenue.

Earnings Update by AlphaStreet

— Research and development expenses soared by 59% due to the manufacturing of voclosporin for commercial and investigational use. It also includes costs related to the Aurora 2 extension study and other expenses.

— As looking forward to results from the Aurora Phase 3 trial for kidney inflammation lupus nephritis by the end of this year, the company has been preparing for success by continuing to strengthen the Board.

— Looking ahead to 2020, and assuming positive results, Aurinia plans on submitting an NDA in the first half of 2020 and projects a commercial launch of voclosporin in early 2021 as a potential first-line treatment for lupus nephritis.

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