Why Aurinia Pharmaceuticals Stock Is Skyrocketing Today
Aurinia Pharmaceuticals (NASDAQ:AUPH), a late-stage developmental biotech, saw its shares rocket higher in after-hours trading Wednesday by a whopping 125%. The biotech's shares took flight in response to positive late-stage trial results for the experimental lupus nephritis drug candidate voclosporin. Lupus nephritis, in layman's terms, is a swelling of the kidneys caused by systemic lupus erythematosus.
The big-ticket item is that voclosporin reportedly produced significantly higher kidney response rates than placebo when used in combination with mycophenolate and low-dose corticosteroids in this pivota ...