Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) has announced that it would be presenting at the 2016 BIO Investor Forum, scheduled to be held on October 18-19, in San Francisco. The company stated that it would be represented by its CEO, Charles Rowland, who will provide a corporate overview of the company. The presentation is scheduled to begin at 4:30 pm PT and can be viewed via webcast, at www.veracast.com.
AUPH has been making a significant amount of progress with its pipeline products, in recent days. The company recently released data from its AURION study, aimed at the treatment of Lupus, using a combination of voclosporin, oral croticosteroids and mycophenolate mofetil. The study had been conducted over a period of 24-weeks, with a patient population of 10. The results from the open-label study revealed a surge in remission rates over time. The data from the study was presented by the VP of clinical affairs at AUPH, Robert Huizinga, at the 10th Annual European Lupus Meeting.
Neil Solomons, M.D., the CMO of AUPH, claimed that these results provide credible evidence for Aurinia to advance with its phase-3 trials. He was of the view that their ability to predict remission rates in patients can potentially help clinicians in optimizing long-term outcomes and patient care. The announcement helped the company surge in the stock market, by approximately 30%. Over the last month, AUPH has gained more than 150% in terms of its share value, with analysts pointing out that the company has not made significant news, for such a big move.
The remission results came a few days after the company had announced that voclosporin had reached its primary and secondary endpoints. The endpoints also included partial remission of the disease, which was measured by greater than or equal to 50% reduction in UPCR levels. Mr. Rowland had expressed his pleasure on these results, stating that the drug has show the potential to shift the treatment paradigm, towards active Lupus.
Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) closed at a share price of $4.36, after having a trade volume of 3.87 million, at the end of the October 17 trading session. The stock gained 4.81% in terms of its share value.