Aurinia Pharmaceuticals Inc. (AUPH)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$311.5M

Revenue growth

19.8%

Net income, last twelve months

$314.1M

Earnings per share

$2.29

Gross margin

90.4%

Operating margin

48.4%

Net margin

100.8%

Return on equity

51.1%

Market value

$2.3B

Price to earnings

7.6x

Cash

$179.7M

Debt

$0

Debt to equity

0.00

Shares outstanding

132.9M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the three months ended June 30, 2026 results, filed 6 August 2026.

• Total revenue rose 19% in quarter. Total revenue was $83.2 million in the quarter, up 19% from $70.0 million; six-month total revenue was $160.9 million, up 21%.
• Net income rose 74% in quarter. Net income was $37.4 million in the quarter, up 74% from $21.5 million; six-month net income was $71.8 million, up 60%.
• Operating income rose from prior year. Income from operations was $46.3 million in the quarter, against $20.1 million a year earlier; six-month operating income was $87.8 million, against $41.9 million.
• LUPKYNIS sales rose 19% in quarter. LUPKYNIS net product sales were $79.4 million in the quarter, up 19% from $66.6 million; six-month sales were $153.0 million, up 21%.
• Sales rose from first quarter. The prior-quarter release reported LUPKYNIS net product sales of $73.6 million for the first quarter, up 23% from the same period of 2025.
• License revenue rose 36% over six months. License, collaboration and royalty revenue was $3.8 million in the quarter, up 12%, and $8.0 million for six months, up 36%.
• R&D expense rose to $13.1 million. Research and development expense was $13.1 million in the quarter, against $7.4 million a year earlier; six-month R&D was $20.5 million against $13.2 million.
• Other income replaced prior-year expense. Other income, net was $6.2 million in the quarter, against $9.2 million of other expense a year earlier.
• Cost of revenue and SG&A declined. Cost of revenue was $6.6 million in the quarter, against $7.1 million; selling, general and administrative expense was $23.5 million, against $26.0 million.
• Income tax expense rose sharply. Income tax expense was $11.4 million in the quarter, against $0.6 million a year earlier; six-month tax expense was $20.9 million against $1.6 million.
• Diluted EPS rose 75% in quarter. Diluted EPS was $0.28 in the quarter, up 75% from $0.16; six-month diluted EPS was $0.53, up 66% from $0.32.
• Diluted share count fell year on year. Diluted weighted average shares were 133.5 million in the quarter, against 137.5 million a year earlier; basic shares were 130.1 million against 134.9 million.
• Operating cash flow rose 19% in quarter. Cash flows from operating activities were $52.5 million in the quarter, up 19% from $44.2 million; six-month operating cash flow was $85.1 million, up 87%.
• Cash and investments reached $443.1 million. Cash, cash equivalents, restricted cash and investments were $443.1 million at June 30, 2026, up from $398.0 million at December 31, 2025.

Revenue by segment

As the company reports it in the segment note of its annual report.

By product, FY2025

By region, FY2025

Company events

The newest 8-K filings of 56 held.

Every filing

The newest filings with the SEC of 362 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

306 funds held it at 30 Jun 2026: 145 added and 78 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Eli Lilly & Co. (LLY): revenue $79.7B, market value $1.21T
• Johnson & Johnson (JNJ): revenue $99.3B, market value $652.9B
• AbbVie Inc. (ABBV): revenue $64.4B, market value $506.1B
• Merck & Co., Inc. (MRK): revenue $66.6B, market value $348.1B
• Novartis AG (NVS): revenue $54.5B, market value $297.8B
• AstraZeneca PLC (AZN): revenue $58.7B, market value $263.1B
• Abbott Laboratories (ABT): revenue $46.6B, market value $177.7B
• Novo Nordisk A/S (NVO): revenue $46.8B, market value $171.0B
• Pfizer Inc. (PFE): revenue $63.7B, market value $168.0B
• Vertex Pharmaceuticals Inc. (VRTX): revenue $12.6B, market value $134.2B

What the company does

Aurinia is a biopharmaceutical company focused on delivering therapies to people living with autoimmune diseases with high unmet medical needs. Its marketed product is LUPKYNIS (voclosporin), introduced in January 2021 as the first FDA-approved oral therapy for adult patients with active lupus nephritis. The company is also developing aritinercept for the potential treatment of autoimmune diseases. It is organised under the Business Corporations Act (Alberta), has one wholly owned subsidiary, Aurinia Pharma U.S., Inc., and has its principal executive office in Edmonton, Alberta. As of 25 February 2026 it had 128 full-time equivalent employees, none covered by collective bargaining agreements.

What it sells

LUPKYNIS is a structurally modified calcineurin inhibitor immunosuppressant. It is indicated in combination with a background immunosuppressive therapy regimen for adults with active lupus nephritis. Lupus nephritis is a complication of systemic lupus erythematosus. The filing cites an estimate that over 200,000 people in the United States have systemic lupus erythematosus, of whom 20% to 60% develop lupus nephritis.

FDA approval rested on the Phase 3 study AURORA 1, a randomised, double-blind, placebo-controlled trial in 357 adults. The primary endpoint, complete renal response at week 52, was reached by 40.8% of patients on LUPKYNIS with mycophenolate mofetil and corticosteroids, against 22.5% on placebo with the same two drugs. AURORA 2, an extension study, showed safety comparable to AURORA 1 with no unexpected safety signals through 3 years.

LUPKYNIS competes with BENLYSTA (marketed by GSK plc) and GAZYVA (marketed by Genentech), both injectable and FDA approved for lupus nephritis. Physicians also treat the disease off label with mycophenolate mofetil and corticosteroids, alone or with first generation calcineurin inhibitors such as tacrolimus.

What is in development

Aritinercept is a dual inhibitor of B cell-activating factor (BAFF) and a proliferation-inducing ligand (APRIL). It uses a binding domain engineered from B cell maturation antigen and an IgG4 Fc domain. The company says other dual inhibitors use a TACI-engineered binding domain and an IgG1 Fc domain.

The first clinical study was a single ascending dose study in 61 healthy subjects, at doses from 5 mg to 300 mg. The filing reports that aritinercept was well tolerated at all doses tested. Mean reductions in IgA, IgM and IgG from baseline to Day 28 reached up to 48%, 55% and 20%. The company says these effects support once-monthly dosing. It has started a clinical study in one autoimmune disease and says it plans to start a study in a second in the first half of 2026. Competing candidates include povetacicept, atacicept and telitacicept.

How it sells

In the United States, Aurinia markets LUPKYNIS through its own commercial organisation. It sells the product to two specialty pharmacies and a specialty distributor. Outside the United States it works with Otsuka Pharmaceutical, under a December 2020 collaboration and licensing agreement. Otsuka's territories are Japan, the European Union, the United Kingdom, Switzerland, Russia, Norway, Belarus, Iceland, Liechtenstein and Ukraine. Aurinia receives milestone payments and royalties of 10% to 20% on net sales there. Otsuka has obtained approval in Japan, the European Union, the United Kingdom and Switzerland.

A separate August 2022 supply agreement has Aurinia supply LUPKYNIS inventory to Otsuka at cost plus a margin. Aurinia also provides manufacturing and other services under it. Revenue therefore comes from net product sales and from license, collaboration and royalty arrangements.

How it is made

Aurinia relies on third-party manufacturers. Lonza is its sole supplier of voclosporin drug substance. Under a December 2020 agreement, Lonza built a dedicated facility called the Monoplant, and manufacturing there began in late June 2023. Aurinia pays a quarterly fixed facility fee for exclusive use of the Monoplant through 31 March 2030, and Otsuka shares its capacity. Catalent Pharma Solutions is the sole supplier for preparing the voclosporin capsules. A single supplier handles blistering and packaging of the commercial cartons for the United States.

Patents and generic challenges

The company received New Chemical Entity exclusivity for LUPKYNIS in the United States, initially running until 22 January 2026. It also has exclusivity of 10 years in certain European countries and 8 years in Japan after approval. Three patents are listed in the FDA Orange Book. The composition of matter patent, 7,332,472, has been extended to October 2027. Patents 10,286,036 and 11,622,991 cover the dosing protocol and run to December 2037.

In February and March 2025, eight generic drug makers sent notice letters saying they had filed abbreviated new drug applications for a generic LUPKYNIS. They allege that the two 2037 patents are invalid, unenforceable or not infringed. Aurinia filed patent infringement complaints against each sender. Because it did so within 45 days, the filing says the FDA cannot approve these applications earlier than 7.5 years from the approval of the LUPKYNIS new drug application, unless a District Court finds all asserted claims invalid, unenforceable or not infringed.

Rules and payers

The FDA regulates testing, manufacturing, labeling, promotion and sale of the product. Aurinia is also subject to United States health care fraud and abuse laws, including the federal Anti-Kickback Statute and the False Claims Act, and to privacy rules such as HIPAA and the GDPR in Europe. Sales depend on coverage and reimbursement from third-party payors such as governments, managed care providers and private insurers. The filing points to pricing measures including the Inflation Reduction Act of 2022 and price controls in European countries.

*From Aurinia's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1600620/000160062026000017/auph-20251231.htm)*

From the company's 10-K.