Why Aurinia Pharmaceuticals Stock Is Flying Today
Shares of Aurinia Pharmaceuticals (NASDAQ: AUPH), a mid-cap biotech company, closed trading Monday up by a healthy 26%. The stock raced higher in response to the FDA's approval of the company's oral lupus nephritis drug, Lupkynis (aka voclosporin).
Lupkynis is indicated for patients with active lupus nephritis who are already receiving background immunosuppressive therapy. Lupus nephritis is an advanced form of systemic lupus erythematosus, an autoimmune disorder that can lead to irreversible kidney damage, dialysis, and even death. Lupkynis is the first oral therapy approved for this condition.
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Source Fool.com
