Aurinia Pharmaceuticals Inc.
AUPH evidence brief
What we can confirm
- BioSniper Score:
- 6.2 / 10
- Market Cap:
- $2.14B
- Lead Asset:
- LUPKYNIS (Phase 4)
What it means
What to watch
Prepared research question
What matters most for AUPH—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · AUPH
Aurinia Pharmaceuticals Inc. (AUPH) is a biopharmaceutical company focused on developing and commercializing therapies for autoimmune diseases, with its approved product LUPKYNIS (voclosporin) for lupus nephritis as its primary revenue driver.
Key risk: Single-product dependency
BioSniper Score
Based on 4 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 8 clinical trials · 1 catalyst · 1 FDA decision for Aurinia Pharmaceuticals Inc..
Aurinia Pharmaceuticals Inc. (AUPH) is a biopharmaceutical company focused on developing and commercializing therapies for autoimmune diseases, with its approved product LUPKYNIS (voclosporin) for lupus nephritis as its primary revenue driver.
- As of 2026-06-30, Aurinia reported cash & equivalents of $179.7M, total revenue of $83.2M, net income of $37.4M, and shareholders' equity of $614.9M [sec].
- LUPKYNIS net product sales grew 36% to $216.2 million in 2024, its fourth year on the market [sec · filed 2025-04-17].
- The company has zero debt as of December 31, 2024, with cash, cash equivalents, restricted cash and short-term investments of $358.5 million [sec · filed 2025-04-17].
- Aurinia is conducting a phase 4 PRESERVE trial in lupus nephritis and has ongoing pediatric studies for voclosporin [news · published 2026-08-12] [catalyst].
- The company initiated a share repurchase program of up to $150 million over 36 months, affirming confidence in growth prospects [sec · filed 2024-04-29].
What works
- LUPKYNIS sales have shown strong year-over-year growth, increasing 36% in 2024 to $216.2 million, indicating robust commercial execution [sec · filed 2025-04-17].
- The company maintains a debt-free balance sheet with substantial cash reserves ($358.5M as of Dec 31, 2024), providing financial flexibility [sec · filed 2025-04-17].
- Aurinia has a pipeline of clinical programs, including a phase 4 PRESERVE trial and pediatric studies, expanding the potential use of voclosporin [news · published 2026-08-12] [catalyst].
What to weigh
- The company's revenue is heavily dependent on a single product, LUPKYNIS, making it vulnerable to market or competitive changes [sec · filed 2025-04-17].
- Forward-looking statements in SEC filings caution that actual future results may differ materially from expectations, highlighting execution risks [sec_mda · as of 2026-05-07].
- The patent for voclosporin (NDA213716) is set to expire on 2037-12-07, which could eventually expose the product to generic competition [catalyst].
From the filings
Quoted directly from source documents.
LUPKYNIS net product sales grew 36% in 2024.
“net product sales of LUPKYNIS were $57.6 million, up 36% from $42.3 million in the same period of 2023.”
SEC filings · April 17, 2025
Aurinia had zero debt and $358.5M in cash as of Dec 31, 2024.
“As of December 31, 2024, Aurinia had cash, cash equivalents, restricted cash and short-term investments of $358.5 million and zero debt.”
SEC filings · April 17, 2025
Aurinia is running a phase 4 PRESERVE trial in lupus nephritis.
“Aurinia Pharmaceuticals is running the phase 4 PRESERVE trial in lupus nephritis, which tests the company's drug Lupkynis.”
News · August 12, 2026
The company expects to be cash flow positive by the second half of 2024.
“With this reduction in operating expenses and our focus on LUPKYNIS growth, we expect to be cash flow positive by the second half of 2024.”
SEC filings · April 29, 2024
Catalyst timeline
- 2037-12-07 · Patent_Expiry · VOCLOSPORIN — The patent for voclosporin (NDA213716) expires, potentially allowing generic competition.
Risks & what to watch (3)›
Key risks
- Single-product dependency — Revenue is almost entirely from LUPKYNIS; any sales decline or competition could significantly impact the company [sec · filed 2025-04-17].
- Patent expiration — Voclosporin patent expires 2037-12-07, opening door to generic competition and revenue erosion [catalyst].
- Clinical trial risks — Pipeline programs (phase 4 PRESERVE, pediatric studies) may fail to meet endpoints or face regulatory delays [news · published 2026-08-12].
What to watch
- LUPKYNIS sales trajectory in 2025 and beyond, given its 36% growth in 2024 [sec · filed 2025-04-17].
- Progress and results of the phase 4 PRESERVE trial in lupus nephritis [news · published 2026-08-12].
- Pediatric and adolescent studies for voclosporin, including the open-label extension study started 2024-03-28 [catalyst].
- Execution of the share repurchase program and any changes in cash position or debt levels [sec · filed 2024-04-29].
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated September 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.29 · 3% dilution
No tracked pipeline phase
1 candidate
1 upcoming, next in ~4072d
5 buys · 1 sell (180d)
Catalysts
Pipeline
Regulatory
Financials
Short Interest
as of May 20, 2026- % of float
- 7.6%
- Days to cover
- 8.1
- Shares short
- 8,886,775
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
AUPH short interestGovernance
Frequently asked questions
What is the AI investment thesis for Aurinia Pharmaceuticals Inc.?
Aurinia Pharmaceuticals Inc. (AUPH) is a biopharmaceutical company focused on developing and commercializing therapies for autoimmune diseases, with its approved product LUPKYNIS (voclosporin) for lupus nephritis as its primary revenue driver.
What is Aurinia Pharmaceuticals Inc.'s lead drug candidate?
Aurinia Pharmaceuticals Inc.'s most advanced tracked candidate is LUPKYNIS (Phase 4) for Lupus Nephritis.
What is Aurinia Pharmaceuticals Inc.'s next catalyst?
Aurinia Pharmaceuticals Inc.'s next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA213716" — expected December 7, 2037.
Who is the CEO of Aurinia Pharmaceuticals Inc.?
Mr. Kevin C. Tang is the chief executive officer of Aurinia Pharmaceuticals Inc. (AUPH).
Where is Aurinia Pharmaceuticals Inc. headquartered?
Aurinia Pharmaceuticals Inc. (AUPH) is headquartered in Edmonton, AB, Canada.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.