Aurinia Pharmaceuticals, Inc. AUPH shares are trending on social media Friday. The company provided its preliminary, unaudited fourth-quarter and fiscal year 2023 financial results.
What To Know:
Aurinia Pharmaceuticals reported preliminary, unaudited total net revenue of $45 million in the fourth quarter compared to the estimate of $44.2 million and full year 2023 preliminary revenue of $176 million, surpassing the $174.71 million estimate and representing growth of 31% year-over-year.
The company reported unaudited cash, cash equivalents, restricted cash and investments of approximately $351 million as of Dec. 31 and said it expects to become cash flow positive in the second half of 2024.
"At the end of the year, we also advanced our pipeline with the submission of an Investigational New Drug application to the FDA for AUR200, a potential next generation therapy for B-cell mediated autoimmune diseases. We are looking forward to continuing our momentum throughout 2024," said Peter Greenleaf, CEO of Aurinia.
According to data from Benzinga Pro, Aurinia shares are moving on heavy trading volume Friday, and 11.4% of shares are being sold short.
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AUPH Price Action: According to Benzinga Pro, Aurinia Pharmaceutical shares are up 4.39% at $8.57 at the time of publication.
Image: Jan from Pixabay
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