Aurinia Pharmaceuticals Inc AUPH shares are trading higher, adding to gains of more than 17% over the last week. The stock has been trending higher since the company announced that its collaboration partner Otsuka Pharmaceutical filed a new drug application (NDA) at the beginning of last week.
What Happened: Otsuka Pharmaceutical, which Aurinia entered into a collaboration and licensing agreement with in 2020, filed an NDA for voclosporin for the treatment of lupus nephritis (LN) with the Japanese Ministry of Health, Labour, and Welfare on Nov. 13.
Aurinia is eligible to receive a payment of $10 million, as well as royalties of sales upon approval in Japan as part of the agreement between Aurinia and Otsuka.
“We look forward to continuing to work with Otsuka to expand availability to voclosporin and provide patients and physicians access to this new therapy that addresses a significant unmet need in lupus nephritis,” said Peter Greenleaf, president and CEO of Aurinia Pharmaceuticals.
In early 2021, the FDA approved voclosporin in combination with a background immunosuppressive therapy regimen. It’s currently available in the U.S. under the brand name LUPKYNIS.
Aurinia Pharmaceuticals is trending on social platforms to start the week. It was the top trending ticker on Stocktwits at publication time.
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AUPH Price Action: Aurinia shares were up 6.55% at $9.16 at the time of writing, according to Benzinga Pro.
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