Aurinia Pharmaceuticals Inc (NASDAQ: AUPH) is a biopharmaceutical company that commercializes LUPKYNIS (voclosporin), the first FDA-approved oral therapy for lupus nephritis (LN). Revenue comes primarily from net product sales of LUPKYNIS in the U.S., supplemented by royalties ranging from 10% to 20% on net sales in Japan, the E.U., the U.K., and Switzerland under a collaboration and licensing agreement with Otsuka Pharmaceutical Co., Ltd, plus supply revenue from manufacturing LUPKYNIS inventory for Otsuka at cost plus a margin. Aurinia is incorporated in Alberta, Canada, and operates as a single-product commercial-stage company with a second asset, aritinercept (a dual BAFF/APRIL inhibitor), in early clinical development for autoimmune diseases. As of December 31, 2025, the company held $398.0 million in cash, cash equivalents, restricted cash, and investments, and repurchased 12.2 million common shares for $98.2 million during FY2025.

Revenue model

Transactional net product sales of LUPKYNIS in the U.S. market; royalties of 10% to 20% on Otsuka net sales in licensed territories (Japan, E.U., U.K., Switzerland, and others); and supply revenue from selling LUPKYNIS inventory to Otsuka at cost plus a margin under a commercial supply agreement signed August 2022.

Products and services

LUPKYNIS (voclosporin): FDA-approved oral calcineurin inhibitor for lupus nephritis, first approved January 2021 with a supplemental NDA approved in 2024; manufactured by Lonza as sole drug substance supplier. Aritinercept: investigational dual BAFF/APRIL inhibitor in single ascending dose clinical study as of the 10-K filed 2026-02-26, with a second autoimmune disease study planned for the first half of 2026.

Customers and end markets

Adult patients with active lupus nephritis in the U.S. and Otsuka-licensed territories. End market is immunology/nephrology. Otsuka Pharmaceutical Co., Ltd is the commercial partner and a material revenue counterparty for royalties and supply payments.

Value-chain role

Commercial-stage specialty pharma. Aurinia owns LUPKYNIS IP, manages U.S. sales and marketing directly through an in-house commercial team, and outsources drug substance manufacturing to Lonza. For ex-U.S. licensed territories, Aurinia acts as licensor and contract manufacturer supplying inventory to Otsuka.

Geographic exposure

Primary commercial revenue from U.S. net product sales. Royalty and supply revenue from Otsuka covering Japan, E.U., U.K., Switzerland, Russia, Norway, Belarus, Iceland, Liechtenstein, and Ukraine. Corporate incorporation in Alberta, Canada.

Source: SEC 10-K, filed 2026-02-26

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