Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) shares skyrocketed over 65% this morning, after the drug maker announced top-line results from its AURA-LV Phase IIb study with voclosporin (VCS) in patients with lupus nephritis (LN) that showed at 48 weeks, the study met its complete remission (CR) and partial remission (PR) endpoints. FBR analyst Vernon T. Bernardino commented, We are impressed with the results, as CRs and PRs at 48 weeks exceeded CRs and PRs at 24 weeks, with one exception. As a reminder, each study arm included standard of care mycophenolate mofetil (MMF) as background therapy and a forced steroid taper. There were no unexpected safety signals or deaths observed in VCS-treated patients. Thus, in addition to strong efficacy, VCS appears to allow safe steroid sparing. We think the results are robust and bode well for a successful Phase III trial, which could make VCS the first approved therapy for LN. As of this writing,the 4 analysts polled by TipRanks (in the past 6months) rate Aurinia stock a Buy. With a return potential of 39%, the stocks consensus target price stands at $8.50. Puma Biotechnology Inc (NASDAQ:PBYI) shares lost one-quarter of their value today, after competitor Roche announced positive top-line results from … Continue reading
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