Aurinia Pharmaceuticals Inc (NASDAQ: AUPH) is surging in pre-market trading. At the moment, it is up by over 100% to trade at $18. This follows news that, the company had recorded positive usage and safety results from phase 3 of its treatment for Lupus.
The company’s Chief Medical Officer, Neil Solomons stated that, the results confirm the treatment’s ability to achieve significant improvements in clinically important goals for a complex disease, and with a standard of safety that compares favorably to available care standards. He added that, this breakthrough was good news for people with LN, a problem that carries the risk of kidney damage and eventual death from kidney failure.
In the worldwide study on 357 patients with LN, the company noted that its treatment, named Voclosporin, had a renal response rate of 40.9% as compared to the response rate of 22.5% on the controls. On top of that, all secondary goals were achieved with the statistics in favor of Voclosporin over the controls when observed at 24 weeks and 52 weeks. The data was positive in all subgroups that took part irrespective of age, race, prior MMF use, and region among others.
Medical experts have also weighed in on this development. Commenting on the deal, Brad Rovin, the Chief Division of Nephrology and Medical Director of the clinical trials management organization at the Ohio State University stated that, the results were a great step forward in the treatment of Lupus Nephritis.
The company stated that if it gets regulatory approval, its patent protection will be extended in the United States, Europe and globally until 2027.
From the charts, AUPH was trading between a low of $7.95 and a high of $8.54 before closing the day at $8.39 in Wednesday’s session. Volumes in the day stood at 10.56 million.
About Aurinia Pharmaceuticals Inc
Aurinia Pharmaceuticals is a clinical-stage biopharma that researches, develops, and sells treatments for multiple diseases. The company’s lead product is Voclosporin, a treatment for Lupus Nephritis. It is headquartered in Victoria Canada.