Here's Why Aurinia Pharmaceuticals Is Falling Today
Aurinia Pharmaceuticals (NASDAQ: AUPH) stock has fallen sharply in response to a recent regulatory filing. Investors feeling queasy about the unlimited shelf registration statement that the company filed on Friday had pulled its share price down by 26.8% as of 10:49 a.m. ET Monday.
In January, the Food and Drug Administration approved Aurinia's first drug, Lupkynis, for the treatment of lupus nephritis. As is often the case when an independent drugmaker launches its first drug, sales of Lupkynis haven't lived up to expectations.
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