Business
Aurinia Reports First Quarter 2022 Financial and Operational Results
$21.6 million in net revenue for Q1 2022; Maintains net revenue guidance range of $115-$135 million from sales of LUPKYNIS for 2022 Continued increases in
About this update from Aurinia Pharmaceuticals Inc
[{"type":"text","content":"\n$21.6 million in net revenue for Q1 2022; Maintains net revenue guidance range of $115-$135 million from sales of LUPKYNIS for 2022\n\nContinued increases in LUPKYNIS™ (voclosporin) Patients on Treatment and Patient Start Forms; Steady Conversion Rates and Payor Coverage\n\nEMA review of LUPKYNIS remains on track with decision expected in 2H 2022\n\nConference call to be hosted today at 8:30 a.m. ET\n\n VICTORIA, British Columbia--(BUSINESS WIRE)--\nAurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (Aurinia or the Company) today issued its financial results for the first quarter ended March 31, 2022. Amounts, unless specified otherwise, are expressed in U.S. dollars.\n\nNet product revenues were $21.6 million for the quarter ended March 31, 2022, compared to $914 thousand in the prior year period, reflecting FDA approval of LUPKYNIS in late January 2021.\n\n“As previously reported on our fourth quarter call, LUPKYNIS revenues in the first quarter were impacted by care disruptions to both patients and the healthcare system caused by the COVID-19 Omicron variant. We are quite pleased that exiting the quarter, as Omicron abated, we began to see a significant increase in prescribing, patient starts, and refills, leading to a monthly record for received patient start forms and patient starts in March,” said Peter Greenleaf, President and Chief Executive Officer of Aurinia. “Heading into the second half of the year, in addition to expected growth in LUPKYNIS revenues, we look forward to multiple expected corporate milestones, including potential European LUPKYNIS approval, the presentation of additional clinical data sets and continued development progress with our pipeline products, AUR200 and AUR300.”\n\nFor fiscal year 2022, the Company maintains its net revenue guidance of $115 million to $135 million from sales of LUPKYNIS. This range is based on assumptions regarding the impact of COVID-19 on the current business environment and represents an increase of more than 150 to 200% in net revenue from sales of LUPKYNIS compared to fiscal year 2021. Aurinia’s guidance does not include any potential milestone payments, royalties or contract manufacturing revenue related to the Company’s licensing agreement with Otsuka Pharmaceutical or associated with the marketing of voclosporin in the European Union or Japan.\n\nFirst Quarter 2022 and Rec...