Aurinia Pharmaceuticals (AUPH) 2024 Cantor Fitzgerald Global Healthcare Conference summary

Financial and operational highlights

• On track to achieve $210–$220 million in revenue for the year, with cash flow positive in Q1 and $330 million in cash, no debt.

• Global expansion progressing, with European pricing/reimbursement advancing and anticipated PMDA approval in Japan, which would trigger a $10 million milestone.

• Label expansion supports long-term dosing, and first patient dosed in AUR-200 single-ascending dose study.

• Revenue growth driven by stable patient start forms, increased hospital orders, higher patient restarts, and improved therapy persistency (up to 56%).

• Guidance range for the year remains unchanged and was recently tightened.

Market and clinical landscape

• Lupus nephritis market awareness and diagnosis rates remain low; efforts focus on aligning physician practices with updated treatment guidelines.

• Prescriber base is evenly split between nephrology and rheumatology, with new ACR guidelines expected to encourage more aggressive and chronic management.

• Initiatives target increased urine screening and earlier intervention by rheumatologists, aiming to shift market dynamics.

• Persistency and patient re-engagement are key revenue drivers alongside new patient starts.

Pipeline and strategic direction

• AUR-200, a BCMA-based BAFF/APRIL inhibitor, is in phase I single-ascending dose studies, with first data expected in H1 next year and multiple potential indications under consideration.

• The molecule is distinct from competitors due to its platform and reversible, flexible mechanism, making it attractive for B-cell-mediated diseases.

• Not pursuing IgAN initially due to market crowding, but open to other rare proteinuria kidney diseases and autoimmune indications.

• Preclinical data show promising PK/PD profiles and biological activity in relevant models.

• Portfolio diversification is considered, but current priorities are growing the main commercial product, strengthening the balance sheet, and advancing AUR-200.