Aurinia Pharmaceuticals Reports Financial Results for the Three and Six Months Ended June 30, 2026 and Provides Update on Recent Business Progress

About this update from Aurinia Pharmaceuticals Inc

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) today announced financial results for the three and six months ended June 30, 2026 and provided an update on recent business progress. Financial Results Total Revenue: For the three and six months ended June 30, 2026, total revenue was $83.2 million and $160.9 million, up 19% and 21%, respectively, from $70.0 million and $132.5 million, respectively, in the same periods of 2025. Net Product Sales: For the three and six months ended June 30, 2026, net product sales of LUPKYNIS, the first FDA-approved oral therapy for the treatment of adult patients with active lupus nephritis, were $79.4 million and $153.0 million, up 19% and 21%, respectively, from $66.6 million and $126.5 million, respectively, in the same periods of 2025. License, Collaboration and Royalty Revenue: For the three and six months ended June 30, 2026, license, collaboration and royalty revenue was $3.8 million and $8.0 million, up 12% and 36%, respectively, from $3.4 million and $5.9 million, respectively, in the same periods of 2025. Net Income: For the three and six months ended June 30, 2026, net income was $37.4 million and $71.8 million, up 74% and 60%, respectively, from $21.5 million and $44.9 million, respectively, in the same periods of 2025. Diluted Earnings per Share: For the three and six months ended June 30, 2026, diluted earnings per share was $0.28 and $0.53, up 75% and 66%, respectively, from $0.16 and $0.32 in the same periods of 2025. Cash Flows from Operating Activities: For the three and six months ended June 30, 2026, cash flows from operating activities were $52.5 million and $85.1 million, up 19% and 87%, respectively, from $44.2 million and $45.5 million in the same periods of 2025. Cash Position As of June 30, 2026, Aurinia had cash, cash equivalents, restricted cash and investments of $443.1 million, compared to $398.0 million at December 31, 2025. For the six months ended June 30, 2026, cash outflows from financing activities were $48.9 million, which included the repurchase of 5.0 million of the Company’s common shares for $74.9 million, partially offset by proceeds from issuance of common shares for equity awards, net of tax withholding payments, of $32.7 million. 2026 Total Revenue and Net Product Sales Guidance Aurinia reiterates its guidance for 2026 total revenue of $315 million to $325 million, up 11% to 15% compared to 2025, and 2026 net product sales of $305 million to $315 million, up 12% to 16% compared to 2025. Recent Development Progress LUPKYNIS Aurinia has recently initiated PRESERVE, a Phase 4, multicenter study investigating the combination of LUPKYNIS and belimumab, obinutuzumab or anifrolumab in patients with lupus nephritis. Belimumab is a B cell-activating factor (BAFF) inhibitor indicated for the treatment of both systemic lupus erythematosus (SLE) and lupus nephritis. Obinutuzumab is a CD20-directed cytolytic antibody indicated for the treatment of lupus nephritis. Anifrolumab is a type 1 interferon receptor antagonist indicated for the treatment of SLE. PRESERVE will investigate whether the multi-target approach of combining LUPKYNIS with these biologic agents improves outcomes in patients with lupus nephritis. Planned enrollment is approximately 150 patients across approximately 50 sites in the US. The Study’s primary endpoint is the proportion of patients achieving complete renal response (CRR) at 6 months. Aritinercept Aritinercept is a dual inhibitor of B cell-activating factor (BAFF) and a proliferation-inducing ligand (APRIL) for the potential treatment of autoimmune diseases. Aurinia has now initiated clinical development of aritinercept in four potential indications. About Aurinia Aurinia is a biopharmaceutical company focused on delivering therapies to people living with autoimmune diseases with high unmet medical needs. In January 2021, the Company introduced LUPKYNIS ® (voclosporin), the first FDA-approved oral therapy for the treatment of adult patients with active lupus nephritis. Aurinia is also developing aritinercept, a dual inhibitor of B cell-activating factor (BAFF) and a proliferation-inducing ligand (APRIL) for the potential treatment of autoimmune diseases. Forward-Looking Statements This press release contains forward-looking information within the meaning of applicable Canadian securities law and forward-looking statements within the meaning of applicable U.S. securities law. We caution investors that forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and involve substantial risks and uncertainties that could cause the actual outcomes to differ materially from what we currently expect. These risks and uncertainties include, but are not limited to, those associated with: LUPKYNIS net product sales, the timing of clinical study results and other risks and uncertainties identified in our filings with the U.S. Securities and Exchange Commission. Forward-looking statements in this press release apply only as of the date made, and we undertake no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances. Additional information related to Aurinia, including a detailed list of the risks and uncertainties affecting Aurinia and its business, can be found in Aurinia’s most recent Annual Report on Form 10-K and its other public available filings available by accessing the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedarplus.ca or the U.S. Securities and Exchange Commission’s Electronic Document Gathering and Retrieval System (EDGAR) website at www.sec.gov/edgar , and on Aurinia’s website at www.auriniapharma.com . AURINIA PHARMACEUTICALS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)       June 30, 2 026   December 31, 2 025     (Unaudited)     ASSETS         Current assets:         Cash, cash equivalents and restricted cash   $ 179,832     $ 80,213   Short-term investments     263,291       317,784   Accounts receivable, net     41,138       41,454   Inventory     45,151       45,690   Prepaid expenses and deposits     10,531       5,746   Other current assets     1,381       1,080   Total current assets     541,324       491,967   Deferred tax assets, net     178,935       176,194   Finance right-of-use lease assets     65,152       73,865   Intangible assets, net     3,378       3,761   Operating right-of-use lease assets     1,518       3,596   Property and equipment, net     1,862       2,111   Other noncurrent assets     93       93   Total assets   $ 792,262     $ 751,587             LIABILITIES AND SHAREHOLDERS' EQUITY         Current liabilities:         Accounts payable   $ 1,735     $ 3,313   Accrued expenses     64,112       66,621   Finance lease liabilities, current portion     16,479       16,523   Deferred revenue     10,593       3,720   Operating lease liabilities, current portion     1,705       1,067   Other current liabilities     5,269       2,480   Total current liabilities     99,893       93,724   Finance lease liabilities, less current portion     43,943       52,322   Deferred tax benefits     23,128       —   Deferred revenue, less current portion     7,480       12,648   Operating lease liabilities, less current portion     2,009       4,900   Other noncurrent liabilities     945       6,662   Total liabilities     177,398       170,256   Shareholders' equity         Common shares — no par value, unlimited shares authorized, 132,907 and 132,323 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively     1,117,248       1,120,035   Additional paid-in capital     76,192       111,263   Accumulated other comprehensive loss     (977 )     (599 ) Accumulated deficit     (577,599 )     (649,368 ) Total shareholders' equity     614,864       581,331   Total liabilities and shareholders' equity   $ 792,262     $ 751,587     AURINIA PHARMACEUTICALS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in thousands, except per share data)       Three Months Ended   Six Months Ended     June 30,   June 30,     2026   2025   2026   2025 Revenue                 Net product sales   $ 79,412     $ 66,574     $ 152,975     $ 126,545   License, collaboration and royalty revenue     3,808       3,434       7,950       5,928   Total revenue     83,220       70,008       160,925       132,473   Operating expenses                 Cost of revenue     6,555       7,115       13,060       15,689   Selling, general and administrative     23,508       26,018       45,537       46,357   Research and development     13,050       7,432       20,520       13,175   Restructuring     —       114       —       1,647   Other (income) expense, net     (6,234 )     9,246       (5,955 )     13,675   Total operating expenses     36,879       49,925       73,162       90,543   Income from operations     46,341       20,083       87,763       41,930   Interest income     3,393       3,190       6,908       6,759   Interest expense     (948 )     (1,117 )     (1,960 )     (2,184 ) Net income before income taxes     48,786       22,156       92,711       46,505   Income tax expense     11,372       643       20,942       1,648   Net income   $ 37,414     $ 21,513     $ 71,769     $ 44,857                     Earnings per share                 Basic   $ 0.29     $ 0.16     $ 0.55     $ 0.33   Diluted   $ 0.28     $ 0.16     $ 0.53     $ 0.32                     Shares used in computing earnings per share                 Basic     130,081       134,873       131,221       136,878   Diluted     133,530       137,526       135,518       140,193     AURINIA PHARMACEUTICALS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in thousands)       Six Months Ended June 30,     2026   2025 Cash flows from operating activities:         Net income   $ 71,769     $ 44,857   Adjustments to reconcile net income to cash flows from operating activities:         Deferred income tax     20,387       —   Share-based compensation     1,973       2,031   Amortization and depreciation     9,650       9,720   Foreign exchange (gain) loss on revaluation of Monoplant finance lease liability     (977 )     9,265   Net amortization of premiums and discounts on investments     (4,200 )     (5,219 ) Other, net     (2,082 )     4,132   Net changes in operating assets and liabilities:         Accounts receivable, net     316       (3,547 ) Inventory     539       (7,275 ) Prepaid expenses and other current assets     (5,031 )     5,106   Other noncurrent operating assets     —       730   Accounts payable     (3,451 )     (1,875 ) Accrued expenses and other liabilities     (5,031 )     (17,136 ) Deferred revenue     1,705       5,147   Operating lease liabilities     (441 )     (395 ) Cash flows from operating activities     85,126       45,541   Cash flows from investing activities:         Proceeds from the sale and maturities of investments     209,000       255,285   Purchases of investments     (150,805 )     (237,411 ) Net cash and cash equivalents acquired in acquisition of Kezar     5,212       —   Purchases of property, equipment and intangible assets     (39 )     (115 ) Cash flows from investing activities     63,368       17,759   Cash flows from financing activities:         Purchase of common shares under Share Repurchase Plan     (74,880 )     (89,485 ) Payments of principal portion of Monoplant finance lease liability     (7,058 )     (6,201 ) Proceeds from issuance of common shares for equity awards     59,154       10,590   Proceeds from issuance of common shares under ESPP     363       401   Tax withholding payments related to net settlements of equity awards     (26,454 )     (9,036 ) Cash flows from financing activities     (48,875 )     (93,731 ) Net increase (decrease) in cash, cash equivalents and restricted cash     99,619       (30,431 ) Cash, cash equivalents and restricted cash, beginning of the period     80,213       83,433   Cash, cash equivalents and restricted cash, end of the period   $ 179,832     $ 53,002     View source version on businesswire.com: https://www.businesswire.com/news/home/20260806708746/en/

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