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Markets Lupkynis, an oral therapy for lupus nephritis, a kidney complication of lupus.
Markets Lupkynis, an oral therapy for lupus nephritis, a kidney complication of lupus.
Sells Lupkynis in the US itself, mainly through specialty pharmacies, so one product carries nearly all its revenue. Otsuka sells it in Europe and Japan and pays Aurinia royalties and supply revenue. It is prescribed alongside standard immune-suppressing treatment for lupus nephritis.
Moat: narrow (regulatory licence, IP / patents). First oral approved therapy for lupus nephritis with commercial exclusivity, though a niche market.
Headquarters: Edmonton, Canada · Founded: 1998 · Employees: 128
Size Aurinia Pharmaceuticals (AUPH) is a United States Health Care company (Biotechnology) with a market value of $2.21B, the 1728th largest of 3,117 United States companies the cockpit tracks. Shares closed at $16.46 on 6 Nov 2026.
Performance Over six months the shares gained 8.1%, against +10.2% for the median peer and -1.1% for the United States market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 21.0% over the last twelve months (peer median +15.6%); the operating margin is 44.8% (peer median -13.6%).
Valuation It trades at 19.7× forward earnings against a peer median of 76.4× (2nd cheapest of 7).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +41%, so the hurdle is -36 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 37.9 points above its cost of capital (11.7% WACC).
Short interest Short interest is 5.8% of the free float (15 Oct 2026).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $322M | $283M | $235M | $176M | $134M |
| Revenue growth | — | +20% | +34% | +31% | — |
| Gross profit | $292M | $250M | $207M | $161M | $128M |
| EBITDA | $163M | $136M | $33.5M | -$71.7M | -$110M |
| Net income | $314M | $287M | $5.75M | -$78.0M | -$108M |
| Free cash flow | $175M | $135M | $44.1M | -$34.2M | -$79.8M |
| Capital expenditure | $132,110 | $252,000 | $281,000 | $718,000 | $292,000 |
| Total debt | $58.7M | $74.8M | $79.4M | $97.6M | $8.09M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Aurinia Pharmaceuticals AUPH | $2.21B | +8% | +21% | 45% | 19.7× | 5.1% |
| Novartis NOVN.SW | $298B | +15% | -4% | 30% | 18.4× | 1.7% |
| Vera Therapeutics VERA | $2.15B | -18% | n/a | n/a | n/a | n/a |
| GSK GSK.L | $102B | 0% | +4% | 25% | 10.6× | -0.1% |
| Roche RO.SW | $385B | +22% | -1% | 31% | 19.6× | 0.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AUPH | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.5% | +1.5% | 11th highest of 21 |
| 6-month return | +8.1% | +10.2% | 11th highest of 21 |
| Distance from 52-week high | -14.5% | -27.0% | 8th highest of 21 |
| Revenue growth (TTM) | +21.0% | +15.6% | 8th highest of 15 |
| Operating margin | 44.8% | -13.6% | 3rd highest of 14 |
| Forward P/E | 19.7× | 76.4× | 2nd cheapest of 7 |
| Growth the price implies (Req g, 7 yrs) | 5.1% | 25.3% | least demanding of 6 |
| Growth delivered (Del g) | +41.4% | +20.8% | 2nd highest of 5 |
| Hurdle (Req g minus delivered) | -36.2 pp | +16.4 pp | least demanding of 5 |
| ROIC minus cost of capital | +37.9 pp | -8.7 pp | 2nd highest of 13 |
| EV / EBITDA | 10.9× | n/a | — |
| Net debt / EBITDA | -2.6× | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aurinia Pharmaceuticals AUPH | United States | $2.21B | +8% | +21% | 45% | 19.7× | 5.1% | +41.4% |
| Immunome IMNM | United States | $2.21B | -17% | -100% | n/a | n/a | n/a | n/a |
| Recursion Pharmaceuticals RXRX | United States | $2.19B | +6% | +56% | -725% | n/a | n/a | n/a |
| SKBS 302440.KS | South Korea | $2.22B | -11% | +23% | -25% | n/a | n/a | n/a |
| Lakefront Biotherapeutics LKFT.AS | Netherlands | $2.19B | +25% | +259% | 60% | n/a | n/a | n/a |
| Sinocelltech 688520.SS | China | $2.25B | -23% | -40% | -75% | n/a | n/a | n/a |
| Vimian VIMIAN.ST | Sweden | $2.26B | +41% | +8% | 19% | 37.5× | 12.5% | +44.5% |
| Vera Therapeutics VERA | United States | $2.15B | -18% | n/a | n/a | n/a | n/a | n/a |
| Septerna SEPN | United States | $2.28B | +105% | +13,520% | -57% | n/a | 18.7% | n/a |
| Hemab Therapeutics COAG | United States | $2.29B | +95% | n/a | n/a | n/a | n/a | n/a |
| Hitgen 688222.SS | China | $2.12B | +23% | +42% | 27% | 94.1× | 38.7% | +16.8% |
| Shenzhen Kangtai Biological Products 300601.SZ | China | $2.11B | -9% | -9% | 6% | 119.7× | 25.3% | +3.4% |
| Zealand Pharma A/S ZEAL.CO | Denmark | $2.32B | -32% | -49% | 51% | 8.8× | n/a | n/a |
| Celldex Therapeutics CLDX | United States | $2.35B | -12% | -97% | -206,220% | n/a | n/a | n/a |
| Vir Biotechnology VIR | United States | $2.07B | +34% | +1,496% | -92% | n/a | n/a | n/a |
| Replimune REPL | United States | $2.05B | +547% | n/a | n/a | n/a | n/a | n/a |
| Trevi Therapeutics TRVI | United States | $2.04B | -1% | n/a | n/a | n/a | n/a | n/a |
| BGI Genomics 300676.SZ | China | $2.39B | -4% | 0% | -14% | 142.2× | n/a | n/a |
| Pharvaris PHVS | United States | $2.41B | +14% | n/a | n/a | n/a | n/a | n/a |
| First Tracks Biotherapeutics TRAX | United States | $2.01B | +145% | n/a | n/a | n/a | n/a | n/a |
| GemPharmatech 688046.SS | China | $2.01B | +59% | +25% | 22% | 58.7× | 35.7% | +24.8% |