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Investing.com -- Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) reported second quarter earnings on Thursday that exceeded analyst expectations, driven by strong sales of its lupus nephritis treatment LUPKYNIS.
The company also raised its full-year revenue guidance, signaling continued growth momentum.
The biopharmaceutical company posted adjusted earnings per share of $0.16 for the second quarter, beating analyst estimates of $0.14.
Revenue reached $70 million, surpassing the consensus estimate of $64.27 million and representing a 22% increase YoY from $57.2 million in the same quarter last year.
Net product sales of LUPKYNIS, the first FDA-approved oral therapy for treating adult patients with active lupus nephritis, grew 21% YoY to $66.6 million.
The company also reported $3.4 million in license, collaboration and royalty revenue, up 55% from the prior year.
"We continue to see solid growth for LUPKYNIS, partially driven by the new 2024 American College of Rheumatology lupus nephritis treatment guidelines, which recommend the incorporation of drugs like LUPKYNIS into first-line therapy in order to preserve kidney function," stated Peter Greenleaf, President and CEO of Aurinia.
Following these strong results, Aurinia raised its full-year 2025 guidance, now expecting total revenue between $260 million and $270 million, up from its previous forecast of $250 million to $260 million. This new guidance exceeds the analyst consensus of $258.2 million.
The company reported a net income of $21.5 million for the quarter, a significant improvement from $0.7 million in the same period last year. As of June 30, Aurinia had $315.1 million in cash, cash equivalents, restricted cash and investments.
The company’s board also approved an additional $150 million for its share repurchase program, which has already bought back 18.3 million common shares for $138.4 million since February 2024.
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