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Joseph M. Miller, the Chief Financial Officer of Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH), a $1.1 billion market cap pharmaceutical company with strong financial health according to InvestingPro, recently executed several transactions involving the company’s common stock, according to a recent SEC filing. On March 3rd and 4th, Miller sold a total of 118,013 shares, generating approximately $939,611. The shares were sold at prices ranging between $7.92 and $8.00, near the current trading price of $8.08.
In addition to the stock sales, Miller acquired shares through two separate transactions on February 28th and March 3rd, where a total of 196,168 shares were granted at no cost. These acquisitions were part of performance awards and stock option grants, which are common forms of compensation for executives. InvestingPro analysis reveals that management has been actively engaged in share buybacks, with the company showing impressive revenue growth of 34% over the last twelve months.
Following these transactions, Miller holds 577,361 shares of Aurinia Pharmaceuticals. The sales were primarily conducted to cover tax withholding obligations related to the vesting of restricted stock units. The company maintains a strong liquidity position with a current ratio of 4.57, indicating robust financial stability.
In other recent news, Aurinia Pharmaceuticals reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.01, which missed analysts’ expectations of $0.03. The company’s revenue also came in below forecasts, reaching $59.9 million against a projected $61.7 million. Despite these shortfalls, Aurinia Pharmaceuticals demonstrated significant revenue growth for the year, with total revenue increasing by 34% to $235.1 million. The company’s flagship product, LUKINIS, reported net product sales of $216.2 million for the year, marking a 36% increase from 2023. Aurinia Pharmaceuticals has set a total revenue guidance of $250 million to $260 million for 2025, with net product sales expected to range from $240 million to $250 million. The company is also advancing its pipeline, particularly with AUR200, and is preparing for potential generic competition. Notably, Aurinia Pharmaceuticals is focused on defending its intellectual property rights for LUKINIS. These developments reflect the company’s ongoing efforts to expand its market presence and product offerings.
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