Aurinia Pharmaceuticals (AUPH) has released an update.
Aurinia Pharmaceuticals has reported significant growth with a 46% increase in net revenue, reaching $50.3 million in Q1 of 2024, largely driven by sales of its LUPKYNIS product. Following a swift corporate restructuring, the company is set to be cash flow positive in Q2, anticipating annual cost savings of $50-$55 million. The company’s strengthened financial position is underlined by a projected $200-$220 million in net product revenue for 2024, alongside strategic efforts to expand market reach for LUPKYNIS.
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