Aurinia Pharmaceuticals Inc. (AUPH) declined in the pre-market after announcing its fourth quarter and fiscal 2021 results. AUPH values at $13.10, losing more than 20% compared to yesterday’s closing price. The stock closed at $15.98 at the end of the last trading session. The stock volume traded in the last trading session was around 3.01 million shares. The current market cap of the company is around $2.11 billion.
AUPH: Q4 and Fiscal 2021 Key Financials
- Aurinia Pharmaceuticals Inc.’s revenue in Q4 2021 was $23.4 million. It is a decrease of more than half compared to the revenue of $50 million in Q4 2020.
- Fiscal 2021 revenue was $45.6 million, which is slightly less than the revenue of $50 million in fiscal 2020. Otsuka’s $50.0 million advance payment mostly accounted for the company’s total revenue for the quarter and year ending December 31, 2020.
- The company’s net loss in Q4 2021 was around $33.3 million, compared to the net loss of $8.1 million in Q4 2020.
- AUPH’s net loss in fiscal 2021 was around $181 million, compared to the net loss of $102.7 million in fiscal 2020.
- The Q4 2021 loss per share was $0.0.25, less than $0.6 of Q4 2020.
- For fiscal 2021, the loss per share was $1.40, compared to $0.87 in fiscal 2020.
AUPH CEO’s Remarks
According to Aurinia’s President and CEO, Peter Greenleaf, the company’s revenue doubled in the fourth quarter of 2021 because of increased LUPKYNIS patient start forms, conversion rates, and payor coverage. Our success in raising awareness, acceptance, and access to LUPKYNIS has been quite positive despite the unexpected COVID challenges that differ by geographic location.
AUPH 2022 Guidelines
According to its guidance, the Company expects a net revenue range of $115 to $135 million from LUPKYNIS sales for the fiscal year 2022. This range is based on assumptions about the influence of COVID-19 on the existing business, and it implies an increase in net revenue from sales of LUPKYNIS of more than 150-200% compared to fiscal 2021.
Conclusion
The success of AURORA 2 gave the company momentum to enter 2022. The company focused on the sale of the LUPKYNIS and aimed to gain maximum revenue from the product. 2022 could be an incredible year to roll out a new product.
