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

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Postmedia has not reviewed the content. by Business Wire Aurinia Pharmaceuticals Reports Financial Results for the Three and Nine Months Ended September 30, 2026 and Provides Update on Recent Business ProgressAuthor of the article:EDMONTON, Alberta — Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) today announced financial results for the three and nine months ended September 30, 2026 and provided an update on recent business progress.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountTotal Revenue: For the three and nine months ended September 30, 2026, total revenue was $83.7 million and $244.6 million, up 14% and 19%, respectively, from $73.5 million and $205.9 million, respectively, in the same periods of 2025. Net Product Sales: For the three and nine months ended September 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 $232.4 million, up 12% and 18%, respectively, from $70.6 million and $197.2 million, respectively, in the same periods of 2025.License, Collaboration and Royalty Revenue: For the three and nine months ended September 30, 2026, license, collaboration and royalty revenue was $4.3 million and $12.2 million, up 54% and 39%, respectively, from $2.8 million and $8.8 million, respectively, in the same periods of 2025.Net Income: For the three and nine months ended September 30, 2026, net income before taxes was $38.7 million and $131.4 million, up 21% and 67%, respectively, from $32.0 million and $78.5 million, respectively, in the same periods of 2025. For the three and nine months ended September 30, 2026, net income was $31.7 million and $103.5 million, flat and up 35%, respectively, from $31.6 million and $76.4 million, respectively, in the same periods of 2025.Diluted Earnings per Share: For the three and nine months ended September 30, 2026, diluted earnings per share was $0.23 and $0.76, flat and up 38%, respectively, from $0.23 and $0.55, respectively, in the same periods of 2025.Cash Flows from Operating Activities: For the three and nine months ended September 30, 2026, cash flows from operating activities were $46.4 million and $131.5 million, up 4% and 46%, respectively, from $44.5 million and $90.0 million, respectively, in the same periods of 2025.This advertisement has not loaded yet, but your article continues below.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againAs of September 30, 2026, Aurinia had cash, cash equivalents, restricted cash and investments of $486.9 million, compared to $398.0 million at December 31, 2025. For the nine months ended September 30, 2026, cash outflows from financing activities were $53.2 million, which primarily 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 $35.9 million.2026 Total Revenue and Net Product Sales GuidanceAurinia is increasing its total revenue guidance for 2026 from a range of $315 million to $325 million to a range of $325 million to $330 million. Aurinia is narrowing its net product sales guidance for 2026 from a range of $305 million to $315 million to a range of $310 million to $315 million.Recent Development ProgressAurinia 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 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.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.This advertisement has not loaded yet, but your article continues below.Forward-Looking StatementsThis 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)September 30, 2026December 31, 2025(Unaudited)ASSETSCurrent assets:Cash, cash equivalents and restricted cash$46,145$80,213Short-term investments440,735317,784Accounts receivable, net47,41441,454Inventory43,72845,690Prepaid expenses and deposits5,9155,746Other current assets3,9491,080Total current assets587,886491,967Deferred tax assets, net170,652176,194Finance right-of-use lease assets60,79573,865Intangible assets, net3,1693,761Property and equipment, net1,7372,111Operating right-of-use lease assets1,3723,596Other noncurrent assets9393Total assets$825,704$751,587LIABILITIES AND SHAREHOLDERS’ EQUITYCurrent liabilities:Accounts payable$3,014$3,313Accrued expenses63,29966,621Finance lease liabilities, current portion16,15016,523Deferred revenue10,4133,720Operating lease liabilities, current portion1,8081,067Other current liabilities1,3212,480Total current liabilities96,00593,724Finance lease liabilities, less current portion39,02852,322Deferred tax benefits23,128—Deferred revenue, less current portion7,15712,648Operating lease liabilities, less current portion1,6774,900Other noncurrent liabilities1,1906,662Total liabilities168,185170,256Shareholders’ equityCommon shares — no par value, unlimited shares authorized, 133,995 and 132,323 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively1,127,5031,120,035Additional paid-in capital77,044111,263Accumulated other comprehensive loss(1,132)(599)Accumulated deficit(545,896)(649,368)Total shareholders’ equity657,519581,331Total liabilities and shareholders’ equity$825,704$751,587This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.AURINIA PHARMACEUTICALS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in thousands, except per share data)Three Months EndedNine Months EndedSeptember 30,September 30,2026202520262025RevenueNet product sales$79,418$70,627$232,393$197,172License, collaboration and royalty revenue4,2812,84112,2318,769Total revenue83,69973,468244,624205,941Operating expensesCost of revenue8,3068,17721,36623,866Selling, general and administrative24,68426,18270,22172,539Research and development16,6138,43537,13321,610Restructuring———1,647Other (income) expense, net(1,267)929(7,222)14,604Total operating expenses48,33643,723121,498134,266Income from operations35,36329,745123,12671,675Interest income4,2193,31611,12710,075Interest expense(867)(1,099)(2,827)(3,283)Net income before income taxes38,71531,962131,42678,467Income tax expense7,01241127,9542,059Net income$31,703$31,551$103,472$76,408Earnings per shareBasic$0.24$0.24$0.78$0.57Diluted$0.23$0.23$0.76$0.55Shares used in computing earnings per shareBasic133,434131,808131,967135,163Diluted135,173136,008135,346138,959AURINIA PHARMACEUTICALS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in thousands)Nine Months Ended September 30,20262025Cash flows from operating activities:Net income$103,472$76,408Adjustments to reconcile net income to cash flows from operating activities:Deferred income tax28,670—Share-based compensation8,0977,950Amortization and depreciation14,49114,585Foreign exchange (gain) loss on revaluation of Monoplant finance lease liability(2,605)9,318Net amortization of premiums and discounts on investments(6,141)(7,844)Other, net(1,498)4,852Net changes in operating assets and liabilities:Accounts receivable, net(5,960)5,816Inventory1,962(5,565)Prepaid expenses and other current assets(2,983)940Other noncurrent operating assets—730Accounts payable(2,172)(2,973)Accrued expenses and other liabilities(4,372)(17,777)Deferred revenue1,2024,150Operating lease liabilities(670)(600)Cash flows from operating activities131,49389,990Cash flows from investing activities:Proceeds from the sale and maturities of investments297,650348,785Purchases of investments(415,164)(344,618)Net cash and cash equivalents acquired in acquisition of Kezar5,212—Purchases of property, equipment and intangible assets(63)(180)Cash flows from investing activities(112,365)3,987Cash flows from financing activities:Purchase of common shares under Share Repurchase Plan(74,880)(98,156)Payments of principal portion of Monoplant finance lease liability(10,902)(9,649)Proceeds from issuance of common shares for equity awards69,55912,583Payment of Net Cash Excess CVR to legacy Kezar shareholders(3,696)—Proceeds from issuance of common shares under ESPP363401Tax withholding payments related to net settlements of equity awards(33,640)(9,400)Cash flows from financing activities(53,196)(104,221)Net decrease in cash, cash equivalents and restricted cash(34,068)(10,244)Cash, cash equivalents and restricted cash, beginning of the period80,21383,433Cash, cash equivalents and restricted cash, end of the period$46,145$73,189View source version on businesswire.com: This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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