Business
Aurinia Reports Fourth Quarter and Full Year 2022 Financial Results and Company Updates
$28.4 million in total net revenue for the fourth quarter 2022, a 21% increase over fourth quarter 2021 and $134.0 million for full year 2022, a 194%
About this update from Aurinia Pharmaceuticals Inc
[{"type":"text","content":"\n$28.4 million in total net revenue for the fourth quarter 2022, a 21% increase over fourth quarter 2021 and $134.0 million for full year 2022, a 194% increase over 2021\n\nCash, cash equivalents, and investments of $389.4 million as of December 31, 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 fourth quarter and the full year ended December 31, 2022. Amounts are expressed in U.S. dollars.\n\nAurinia achieved total net revenue of $28.4 million and $134.0 million for the fourth quarter and full year ended December 31, 2022, respectively. Aurinia achieved net product revenue of $28.3 million and $103.5 million for the fourth quarter and full year ended December 31, 2022, respectively.\n\n“2022 was a year of significant growth generating $134.0 million in total net revenue representing a 194% increase over the previous year. As an organization, we continue to advocate for improved screening, diagnosis and the treatment of lupus nephritis with healthcare providers while reinforcing the clinical benefits of LUPKYNIS over the historic standard of care,” said Peter Greenleaf, President and Chief Executive Officer of Aurinia. “We are focused on operational and commercial execution and are poised for continued growth in and outside the U.S., as we work to change the course of lupus nephritis and other autoimmune diseases.”\n\nFor fiscal year 2023, the Company is reiterating its previous net product revenue guidance of $120 to $140 million from sales of LUPKYNIS. This range represents a double-digit percentage increase in net product revenue from sales of LUPKYNIS compared to fiscal year 2022.\n\nFourth Quarter 2022 Highlights & Upcoming Milestones:\n\n\nThere were approximately 1,525 patients on LUPKYNIS therapy at December 31, 2022, compared with 1,354 at September 30, 2022.\n\n\nAurinia added 406 PSFs during the fourth quarter 2022, a 15% decrease from the fourth quarter 2021 (477), and a 9% increase from third quarter 2022 (374), exiting the year with a total of 1,648 PSFs during 2022.\n\n\nThrough February 24, 2023, the Company has secured 274 PSFs for a total of approximately 3,500 PSFs since launch.\n\n\nConversion rates continue to improve with approximatel...