Aurinia Q4 2021 Earnings Report
Key Takeaways
Aurinia Pharmaceuticals Inc. reported Q4 2021 net revenue of $23.4 million, a 60% increase from the previous quarter, and full year 2021 net revenue of $45.6 million. The company had $466.1 million in cash, cash equivalents, and investments as of December 31, 2021. Aurinia projects net revenue guidance of $115-$135 million for 2022.
Q4 2021 net revenue reached $23.4 million, marking a 60% increase from the third quarter.
Full year 2021 net revenue totaled $45.6 million.
Cash, cash equivalents, and investments stood at $466.1 million as of December 31, 2021.
Net loss for the quarter was $33.3 million, or $0.25 net loss per common share.
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Aurinia Revenue by Segment
Forward Guidance
Aurinia provided net revenue guidance of $115 to $135 million from sales of LUPKYNIS for fiscal year 2022, representing an increase of more than 150 to 200% compared to fiscal year 2021.
Positive Outlook
- Net revenue guidance of $115 to $135 million from sales of LUPKYNIS for fiscal year 2022.
- Represents an increase of more than 150 to 200% in net revenue from sales of LUPKYNIS compared to fiscal year 2021.
- Positive results from the AURORA 2 two-year continuation study.
- Regulatory review of the European Medicines Agency (EMA) marketing authorization application (MAA) remains on track.
- Committee for Medicinal Products for Human Use (CHMP) opinion expected in the second half of 2022 followed by a European Commission (EC) approval decision expected in the second half of 2022.
Challenges Ahead
- Guidance is based on assumptions regarding the impact of COVID-19 on the current business environment.
- Commercial infrastructure spend to support the launch of LUPKYNIS.
- Payments for inventory.
- Upfront payment made as part of a collaborative agreement with Lonza to build a dedicated manufacturing capability (or monoplant).
- Upfront license payment related to its recently acquired developmental programs (AUR200 and AUR300).