AUPH · Aurinia Pharmaceuticals Inc.

Aurinia Pharmaceuticals delivered strong Q1 2026 results, driven by robust LUPKYNIS demand with net product sales reaching $73.6 million, a 23% increase from $60.0 million in Q1 2025, reflecting its positioning as the first FDA-approved oral therapy for active lupus nephritis. License, collaboration, and royalty revenue from Otsuka surged 64% to $4.1 million, contributing to total revenue growth of 24% to $77.7 million. Operating expenses declined to $36.3 million from $40.6 million, primarily due to lower cost of revenue and absence of prior-year restructuring charges, yielding operating income of $41.4 million, up from $21.8 million. Net income rose 48% to $34.4 million, with diluted EPS at $0.25, bolstered by interest income and moderated tax expense. Cash generation improved dramatically, with operating cash flows at $32.6 million versus $1.3 million last year, supporting a $378.8 million cash position despite $53.7 million in financing outflows, including a $36.2 million share repurchase of 2.5 million common shares. The company reiterated 2026 guidance for total revenue of $315-$325 million (11-15% growth) and net product sales of $305-$315 million (12-16% growth), signaling confidence in LUPKYNIS momentum and aritinercept development across autoimmune indications. CEO Kevin Tang emphasized LUPKYNIS as an emerging standard-of-care and aritinercept's broad potential, underscoring Aurinia's focus on high-unmet-need autoimmune therapies.