Aurinia Pharmaceuticals Inc.

Aurinia is a biopharmaceutical company focused on delivering therapies for people with autoimmune diseases. In January 2021, the company introduced LUPKYNIS (voclosporin), the first FDA-approved oral therapy for treating adult patients with active lupus nephritis ("LN"). Aurinia is also developing aritinercept, which is a dual inhibitor of B cell-activating factor ("BAFF") and a proliferation-inducing ligand ("APRIL"), for potential treatment of autoimmune diseases. Aurinia sells LUPKYNIS to two specialty pharmacies and a specialty distributor in the United States. The company also sells LUPKYNIS inventory to its collaboration partner, Otsuka Pharmaceutical Co., Ltd. ("Otsuka"), for the European and Japanese markets. For the year ended December 31, 2025, net product sales were $271.3 million, a 25% increase compared to $216.2 million in 2024. Cash flows from operating activities for the year ended December 31, 2025, were $135.7 million, up 206% compared to $44.4 million in 2024. As of December 31, 2025, Aurinia had cash, cash equivalents, restricted cash, and investments of $398.0 million, compared to $358.5 million at December 31, 2024. For the year ended December 31, 2025, the company repurchased 12.2 million of its common shares for $98.2 million. In December 2020, Aurinia entered into a collaboration and licensing agreement with Otsuka to develop and commercialize oral voclosporin in Japan, the European Union, the United Kingdom, Switzerland, Russia, Norway, Belarus, Iceland, Liechtenstein, and Ukraine. This agreement included a $50 million upfront cash payment, regulatory and commercial milestone payments, and royalties ranging from 10% to 20% on net sales in these territories. In August 2022, Aurinia also entered into a commercial supply agreement with Otsuka to supply LUPKYNIS inventory at cost plus a margin, and to provide manufacturing and other services, including sharing the capacity of a dedicated manufacturing facility at Lonza Ltd., Aurinia's contract manufacturing partner for voclosporin.