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Jun 30, 2022
Aurinia Q2 2022 Earnings Report
Reported an increase in net revenue and maintained net revenue guidance.
Key Takeaways
Aurinia Pharmaceuticals Inc. reported a net revenue increase to $28.2 million for Q2 2022 and maintained its net revenue guidance range of $115-$135 million from sales of LUPKYNIS for 2022. The company had $391.7 million in cash and investments as of June 30, 2022.
Net product revenues were $28.2 million for the quarter ended June 30, 2022, compared to $6.6 million for the same period ended June 30, 2021.
Aurinia added 409 patient start forms (PSFs) during the second quarter 2022.
There were approximately 1,274 patients on LUPKYNIS therapy at June 30, 2022, compared with 1,071 at March 31, 2022.
Received positive CHMP opinion for LUPKYNIS® (voclosporin) for the treatment of adults with active lupus nephritis in Europe.
Revenue by Segment
Forward Guidance
Aurinia maintains net revenue guidance range of $115-$135 million from sales of LUPKYNIS® (voclosporin) for 2022 and believes that it has sufficient financial resources to fund its operations for at least the next few years.
Positive Outlook
- Net revenue guidance range of $115-$135 million from sales of LUPKYNIS® (voclosporin) for 2022 is maintained.
- EMA review of LUPKYNIS remains on track with decision expected by the end of Q3 2022
- Continued increases in LUPKYNIS Patients on Treatment
- Steady Conversion Rates and Payor Coverage
- Believes that it has sufficient financial resources to fund its operations for at least the next few years
Challenges Ahead
- Aurinia’s actual future financial and operational results may differ from its expectations
- Difficulties Aurinia may experience in completing the commercialization of voclosporin
- The market for the LN business may not be as estimated
Historical Earnings Impact
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Avg. Return Before/After Earnings
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