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

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeBusiness Wire News ReleasesPMN Press ReleasesThis section is The content in this section is supplied by Business Wire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by Business Wire Aurinia Pharmaceuticals Reports Financial Results for the Three and Six Months Ended June 30, 2026 and Provides Update on Recent Business ProgressAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.ROCKVILLE, Md. & EDMONTON, Alberta — 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.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 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.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 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 GuidanceAurinia 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 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.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)June 30, 2026December 31, 2025(Unaudited)ASSETSCurrent assets:Cash, cash equivalents and restricted cash$179,832$80,213Short-term investments263,291317,784Accounts receivable, net41,13841,454Inventory45,15145,690Prepaid expenses and deposits10,5315,746Other current assets1,3811,080Total current assets541,324491,967Deferred tax assets, net178,935176,194Finance right-of-use lease assets65,15273,865Intangible assets, net3,3783,761Operating right-of-use lease assets1,5183,596Property and equipment, net1,8622,111Other noncurrent assets9393Total assets$792,262$751,587LIABILITIES AND SHAREHOLDERS’ EQUITYCurrent liabilities:Accounts payable$1,735$3,313Accrued expenses64,11266,621Finance lease liabilities, current portion16,47916,523Deferred revenue10,5933,720Operating lease liabilities, current portion1,7051,067Other current liabilities5,2692,480Total current liabilities99,89393,724Finance lease liabilities, less current portion43,94352,322Deferred tax benefits23,128—Deferred revenue, less current portion7,48012,648Operating lease liabilities, less current portion2,0094,900Other noncurrent liabilities9456,662Total liabilities177,398170,256Shareholders’ equityCommon shares — no par value, unlimited shares authorized, 132,907 and 132,323 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively1,117,2481,120,035Additional paid-in capital76,192111,263Accumulated other comprehensive loss(977)(599)Accumulated deficit(577,599)(649,368)Total shareholders’ equity614,864581,331Total liabilities and shareholders’ equity$792,262$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 EndedSix Months EndedJune 30,June 30,2026202520262025RevenueNet product sales$79,412$66,574$152,975$126,545License, collaboration and royalty revenue3,8083,4347,9505,928Total revenue83,22070,008160,925132,473Operating expensesCost of revenue6,5557,11513,06015,689Selling, general and administrative23,50826,01845,53746,357Research and development13,0507,43220,52013,175Restructuring—114—1,647Other (income) expense, net(6,234)9,246(5,955)13,675Total operating expenses36,87949,92573,16290,543Income from operations46,34120,08387,76341,930Interest income3,3933,1906,9086,759Interest expense(948)(1,117)(1,960)(2,184)Net income before income taxes48,78622,15692,71146,505Income tax expense11,37264320,9421,648Net income$37,414$21,513$71,769$44,857Earnings per shareBasic$0.29$0.16$0.55$0.33Diluted$0.28$0.16$0.53$0.32Shares used in computing earnings per shareBasic130,081134,873131,221136,878Diluted133,530137,526135,518140,193AURINIA PHARMACEUTICALS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in thousands)Six Months Ended June 30,20262025Cash flows from operating activities:Net income$71,769$44,857Adjustments to reconcile net income to cash flows from operating activities:Deferred income tax20,387—Share-based compensation1,9732,031Amortization and depreciation9,6509,720Foreign exchange (gain) loss on revaluation of Monoplant finance lease liability(977)9,265Net amortization of premiums and discounts on investments(4,200)(5,219)Other, net(2,082)4,132Net changes in operating assets and liabilities:Accounts receivable, net316(3,547)Inventory539(7,275)Prepaid expenses and other current assets(5,031)5,106Other noncurrent operating assets—730Accounts payable(3,451)(1,875)Accrued expenses and other liabilities(5,031)(17,136)Deferred revenue1,7055,147Operating lease liabilities(441)(395)Cash flows from operating activities85,12645,541Cash flows from investing activities:Proceeds from the sale and maturities of investments209,000255,285Purchases of investments(150,805)(237,411)Net cash and cash equivalents acquired in acquisition of Kezar5,212—Purchases of property, equipment and intangible assets(39)(115)Cash flows from investing activities63,36817,759Cash 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 awards59,15410,590Proceeds from issuance of common shares under ESPP363401Tax 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 cash99,619(30,431)Cash, cash equivalents and restricted cash, beginning of the period80,21383,433Cash, cash equivalents and restricted cash, end of the period$179,832$53,002View source version on businesswire.com: Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.