Aurinia Reiterates 2026 Sales Outlook After Growth Cools

The Tip Desk · August 7, 2026 · 3 min read

Second-quarter revenue reached $83.2 million, up 19%, as LUPKYNIS sales were $79.4 million.

Aurinia Pharmaceuticals Inc. (AUPH) reported second-quarter total revenue of $83.2 million, up 19% from a year earlier, as year-over-year growth cooled from the 24% pace recorded in the first quarter.

The biopharmaceutical company focused on autoimmune diseases reported net product sales of LUPKYNIS, the first FDA-approved oral therapy for adult patients with active lupus nephritis, of $79.4 million, up 19% from $66.6 million in the year-ago quarter. That product line accounted for the large majority of the quarter’s revenue.

License, collaboration and royalty revenue was $3.8 million.

Net income was $37.4 million, or $0.28 a share on a diluted basis, compared with $21.5 million, or $0.16 a share, a year earlier.

Cash flows from operating activities were $52.5 million in the three months ended June 30, 2026.

The company reiterated 2026 total revenue guidance of $315 million to $325 million, up 11% to 15% compared with 2025, and 2026 net product sales of $305 million to $315 million, up 12% to 16% compared with 2025.

Operating expenses in the quarter included $23.5 million of selling, general and administrative costs and $13.1 million of research and development. Cost of revenue was $6.6 million. Other income, net, was $6.2 million. Income from operations was $46.3 million. Interest income was $3.4 million and interest expense was $0.9 million. Income tax expense was $11.4 million.

As of June 30, 2026, Aurinia had cash, cash equivalents, restricted cash and investments of $443.1 million, compared with $378.8 million at March 31, 2026. For the six months ended June 30, 2026, cash outflows from financing activities were $48.9 million, which included the repurchase of 5.0 million common shares for $74.9 million, partially offset by proceeds from issuance of common shares for equity awards, net of tax withholding payments, of $32.7 million.

The company recently initiated PRESERVE, a Phase 4, multicenter study investigating the combination of LUPKYNIS and belimumab, obinutuzumab or anifrolumab in patients with lupus nephritis. Planned enrollment is approximately 150 patients across approximately 50 sites in the United States. The study’s primary endpoint is the proportion of patients achieving complete renal response at 6 months.

Aurinia has now initiated clinical development of aritinercept, a dual inhibitor of B cell-activating factor (BAFF) and a proliferation-inducing ligand (APRIL), in four potential indications.

For the six months ended June 30, 2026, total revenue was $160.9 million, up 21% from $132.5 million in the same period of 2025. Net product sales of LUPKYNIS were $153.0 million. License, collaboration and royalty revenue was $8.0 million. Net income was $71.8 million, or $0.53 a share on a diluted basis. Cash flows from operating activities were $85.1 million.

The company remains focused on LUPKYNIS as its commercial product and on aritinercept as a later-stage pipeline asset across autoimmune indications. Management reiterated the existing 2026 sales ranges rather than raising them after the second-quarter results.

Cash and investments of $443.1 million at June 30, 2026, sit against a share count of 132.9 million shares issued and outstanding, down from 132.3 million at December 31, 2025.

The PRESERVE study is designed to test whether combining LUPKYNIS with existing biologic agents improves renal outcomes in lupus nephritis. Enrollment is planned at about 150 patients across about 50 U.S. sites, with complete renal response at six months as the primary endpoint.

Aurinia’s 2026 outlook remains $315 million to $325 million of total revenue and $305 million to $315 million of LUPKYNIS net product sales, the same ranges it restated after the first quarter.