Aurinia bounces on latest lupus nephritis readout
Aurinia Pharmaceuticals Inc. (TSX:AUP; NASDAQ:AUPH) shares jumped after the company said both doses of voclosporin (LX211) met the 48-week secondary efficacy endpoints in the Phase IIb AURA-LV trial to treat active lupus nephritis, with no new deaths or unexpected safety signals. On Aug. 15, 2016, Aurinia lost more than half its value after reporting 24-week data that showed an imbalance in mortality among the study's arms (see BioCentury Extra, Aug. 15, 2016).
Aurinia announced the new readout after market hours Wednesday, and gained C$1.15 (23%) to C$6.08 in Toronto and $0.82 (22%) to $4.53 on NASDAQ in afternoon trading on Thursday. On both exchanges, Aurinia is trading above its close on Aug. 12, before the 24-week data were announced...
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