Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH)
Aurinia Pharmaceuticals Inc. (AUPH), a clinical stage pharmaceutical company yesterday announced that its extended treatment for lupus nephritis has led to more patients showing complete remission without any additional deaths.
Experts and Aurinia Pharmaceuticals Inc. CMO’s Comments
“Lupus nephritis (LN) is one of the most severe complications of systemic lupus erythematosus. The current treatments of LN are toxic and the complete renal response rates are unacceptably low. For the last several years the community of lupus researchers in collaboration with the pharmaceutical industry have been engaged in finding more effective therapies for LN, but success has been difficult to achieve,” said Brad Rovin, MD, FASN, Director of Nephrology and Vice Chairman of Research for the Department of Internal Medicine at the Ohio State University Wexner Medical Center. “The AURA trial’s long-term results convincingly demonstrate that the addition of voclosporin to standard of care treatment is superior to standard of care alone. These data are not only statistically significant, but clinically important. Twice as many patients given 23.7mg voclosporin twice daily achieved a complete renal response compared to those treated with placebo. This is an impressive renal response rate and these results may shift the treatment paradigm of LN. Based on these encouraging data, I am looking forward to the Phase III trial of voclosporin in LN.”
“We are grateful to both the patients and investigators who have worked with us on this groundbreaking program. Voclosporin is the first and only treatment candidate that has demonstrated such a clear treatment effect for LN patients,” said Neil Solomons, MD, Aurinia’s Chief Medical Officer. “These data provide us with tremendous confidence that we can execute a successful Phase III program and make a meaningful impact on patients’ lives.”
“Lupus nephritis carries with it life-threatening complications, including kidney failure. The treatment of the disease is challenging, and steroid side-effects are often difficult for patients to endure. The National Kidney Foundation supports the development of steroid-sparing treatment options, and we look forward to following the results of the Phase III trial,” said Joseph Vassalotti, MD, Chief Medical Officer, National Kidney Foundation.
AUPH Technical Analysis
AUPH opened trading yesterday at $3.65 which was up from the previous day’s trading close of $3.56. Shares closed trading yesterday at $3.71 and spiked down after market to $5.69, equivalent to a 53% increase from the closing price. Taking a look at the daily chart we can see that the last time AUPH traded above these levels we have to go all the way back to October 6th 2016, when it traded at highs of $5.69.
Taking a closer look at the daily chart we can see that before the spike up AUPH had already been in an overall upward trend dating back to December 28th, 2016 when it traded at $2.06. AUPH has a float of 22.51 million shares and traded below the normal daily trading volume on Wednesday.
For trading purposes, I would like to see AUPH open trading on Thursday above $5.00 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.20 from my entry position fearing anything more than that and the stock would start to fill in the gap up. You can find more information on this stocks technicals at finviz.
Aurinia Pharmaceuticals Inc., a clinical stage pharmaceutical company, engages in the development of a therapeutic drug to treat autoimmune diseases in Canada. The companys lead drug candidate is Voclosporin, a calcineurin inhibitor, which is in Phase IIb clinical trial for the treatment of lupus nephritis.
It has a collaboration agreement with Paladin Labs Inc. to maintain the patent portfolio for Voclosporin in Canada, South Africa, and Israel; and development, distribution, and license agreement with 3SBio, Inc. for Voclosporin in China, Hong Kong, and Taiwan.
The company was formerly known as Isotechnika Pharma Inc. and changed its name to Aurinia Pharmaceuticals Inc. in October 2013. Aurinia Pharmaceuticals Inc. was founded in 1993 and is headquartered in Victoria, Canada. Yahoo Finance