R&D expenses increased to $10.8 million from $8.7 million in the prior-year quarter, reflecting the costs incurred for the AURORA 2 extension trial, the DDI study and the FSGS and DES Phase 2 studies which were newly enrolled studies in 2018.
Aurinia stock climbed 13% on February 25 when the US patent office extended the patent protection for voclosporin drug till 2037 in treating patients diagnosed with lupus nephritis.
The Phase III clinical trial for the treatment of LN is called AURORA, which is a 56-week trial. With the enrollment complete for the trial, the top-line results are expected in the Q4 of 2019. If all goes well, the company would file a new drug application in 2020 and slated for a launch in the US in 2021.
With huge unmet need, if voclosporin is approved, it has the potential to become a blockbuster drug for the firm. Upon approval, this would become the first drug to be approved for treating LN.
The biopharmaceutical company’s stock, which hit its yearly high ($7.85) on January 16, 2019, dipped 6% since the beginning of this year.