Aurinia Pharmaceuticals: New Management, Continued Lupkynis Performance

Aurinia Pharmaceuticals has undergone a major management overhaul, with fund manager and activist investor Kevin Tang appointed as the CEO. AUPH's COO and CFO have also been replaced. Lupkynis's net product sales reached $271.3M in 2025, up 25.5% YoY, with 2026 guidance for $305M–$315M, possibly conservative given the company's previous beat of initial 2025 guidance. Aritinercept will be evaluated in two autoimmune diseases, with one clinical study already underway and another set to commence in H1 2026, although the exact indications have not been disclosed.