Loading...
•
Sep 30, 2022
Aurinia Q3 2022 Earnings Report
Aurinia reported Q3 2022 financial results, demonstrating progress across key commercial metrics for LUPKYNIS and adjusting net product revenue guidance for 2022.
Key Takeaways
Aurinia Pharmaceuticals Inc. reported a total net revenue of $55.8 million for Q3 2022, which includes a $30.0 million milestone from Otsuka. The company is adjusting its net product revenue guidance to $100-105 million from sales of LUPKYNIS for 2022 and issuing preliminary net product revenue guidance for 2023 in the range of $120-140 million.
Net revenue for Q3 2022 was $55.8 million, including a $30.0 million milestone from Otsuka related to European Approval of LUPKYNIS.
Net product revenue guidance adjusted to $100-105 million from sales of LUPKYNIS for 2022.
Preliminary net product revenue guidance for 2023 is in the range of $120-140 million from sales of LUPKYNIS.
Approximately $400 million of cash, cash equivalents, restricted cash and investments as of October 31, 2022.
Revenue by Segment
Forward Guidance
Aurinia adjusts net product revenue guidance to $100-105 million from sales of LUPKYNIS for 2022 and issues preliminary net product revenue guidance for 2023 in the range of $120-140 million.
Positive Outlook
- Aurinia expects to achieve continued important regulatory milestones in additional geographies in 2022 and 2023.
- LUPKYNIS is the first FDA-approved oral therapy for the treatment of adult patients with active lupus nephritis (LN).
- Company believes that it has sufficient financial resources to fund its operations for at least the next few years.
- Aurinia is diligently working on its defense to the IPR.
- Additional clinical data, including updates from AURORA 1 and AURORA 2, are expected to be presented at upcoming conferences
Challenges Ahead
- Experienced a slight decline in new patient start forms over the second quarter ended June 30, 2022, which is potentially the result of reduced lupus nephritis diagnoses and patient visits in the quarter.
- Aurinia is adjusting its net revenue guidance to $100-105 million from sales of LUPKYNIS for 2022.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...