Aurinia Pharmaceuticals Inc (AUPH) Quote

after multiple millions of dollars into his own bank account and no ROI for shareholders even a blind person can see pete has no management skills and should be kicked to the curb. a vote for pete is "NOT" a vote for shareholder value.
and why are there so many bod's sucking off the company, real companies don't have bod's this overweighted.

This has turned into another Ariad…..

What Selce said !!!!

ttubular: Re Annual Meeting:

2024 ANNUAL GENERAL MEETING
Jun 14, 2024 • 12:00 pm EDT

https://www.auriniapharma.com/investors-and-media/news-events/ir-calendar/detail/20240614-2024-annual-general-meeting

https://www.auriniapharma.com/investors-and-media/news-events/2024-agm

Here is the text:

May 7, 2024, 9:00 AM EDT
GENEVA--(BUSINESS WIRE)--Lucien Selce, who owns approximately 2.2% of the outstanding shares of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (“Aurinia” or the “Company”), today issued the following letter to Aurinia shareholders:
May 7, 2024
Fellow Shareholders,
As a shareholder of Aurinia since 2020, I have grown increasingly worried about the Company’s trajectory and am disappointed in the Board of Directors’ (the “Board”) actions. This is why I now feel dutybound to publicly share my concerns and ideas for improving the Company.
In recent years, Aurinia has faced challenges in effectively penetrating the market with its flagship drug, Lupkynis. With CEO and director Peter Greenleaf at the helm, the Board has struggled to implement successful strategies to enhance market penetration and shareholder value. I believe that the composition of the Board and the excessive number of directors sitting on it are holding Aurinia back from achieving its full potential. In my view, the Board’s size should be reduced to ensure efficiency and cost-effectiveness. All directors with merger and acquisition-related or research experience should be removed. Shareholders have clearly lost faith in the ability of this Board to deliver results.
The Company’s recent Q1 2024 earnings release and accompanying call did little to appease our concerns. Although we noted the small “beat” in revenues and management’s forecast that Aurinia will be cash flow positive in Q2 2024 instead of H2 2024, we also note that most of the revenue growth stems from pre-existing clients re-enrolling for treatment instead of new clients’ enrollment.
Key failures of the current Board include:
1. The Board severely mishandled the communication of its dead-end strategic review, which resulted in investors fleeing the stock. The Board’s communication in this regard seemed designed to destroy Aurinia’s share price. The message was essentially that the Company has no desirability for any industry actor as a potential buyer. The Company’s February 15, 2024 press release alluded, unnecessarily, to a failed 2018 sale process. There is no rational explanation for this inept communication other than possibly allowing management to grant itself Restricted Stock Units (“RSUs”) on the cheap.
2. The Board currently has an excessive number of directors who lack relevant skills and much-needed objectivity, compromising its efficiency and effectiveness.
Dr. Robert Foster was appointed to the Board at the urging of MKT Capital to ensure a comprehensive and fair strategic review. Dr. Foster was not meant to stay on after the conclusion of the strategic review. It appears to me that Mr. Greenleaf’s motivation for keeping him on the Board is exclusively linked to the cooperation agreement between Aurinia and MKT Capital. Under this agreement, MKT Capital is not allowed to disparage or otherwise publicly dissent with the Company’s management. By remaining on the Board, Dr. Foster has betrayed MKT Capital – and is being financially rewarded by Aurinia for doing so.???
The two latest additions to the Board, Jeffrey Bailey and Dr. Karen Smith, who were originally praised by Mr. Greenleaf for their M&A experience and achievements, no longer possess relevant skillsets now that the strategic review has ended.???
Chair Daniel Billen’s close ties with Mr. Greenleaf raise concerns about his impartiality and increase the risk of repetition of past failures.
3. The Board has failed to effectively oversee Mr. Greenleaf and a value-enhancing strategy for Aurinia. Mr. Greenleaf's five-year tenure as CEO has been marked by repeated drug failures. After failing to deliver substantial market penetration for Lupkynis, he purchased Aur200 and Aur300, touting them as transformational for Aurinia. As a result, the Board granted Mr. Greenleaf options and RSUs for building a pipeline, only for him to kill this pipeline after Aur200 and Aur300 received Investigational New Drug applications from the U.S. Food and Drug Administration. With a single stroke, the Board transformed Aurinia into a one-trick pony. The Board then shifted the Company’s focus to potential future pipeline acquisitions while simultaneously announcing a $150 million share buyback.
4. The Board has rewarded Mr. Greenleaf with RSUs despite lackluster performance. I believe it is imperative that Mr. Greenleaf be removed from the Board to ensure boardroom independence, while remaining as CEO. Clear objectives for market penetration must be set, with no more options or RSUs granted unless targets are achieved.
Clearly, Aurinia’s Board is mired in contradictions and conflict of interest. In my view, the Board should immediately take the following actions to improve its independence and enable it to oversee management more effectively for the benefit of all Aurinia shareholders:
Restructure the Board and reduce its size from nine directors to five directors. The ideal Board should comprise an independent Chair, one large shareholder representative (in this respect, it is logical that long-standing, top investor ILJIN SNT Co., Ltd. (“ILJIN”) nominate someone), one small shareholder representative and another independent director.???
Link management’s compensation to fulfilling quantitative revenue goals set by an independent Board. Clear objectives for market penetration must be set, with no more options or RSUs granted unless targets are achieved. The current management “entrenchment” package recently issued in the amended annual report should be rejected.???
Develop accretive strategic partnerships. A strategy for accelerating Lupkynis’ commercial development should be developed and implemented. This could potentially take the form of a royalty or co-promotion deal with a middle or major pharmaceutical company.
Aurinia must undergo significant changes to realize its potential. The upcoming Annual General Meeting of Shareholders (the “Annual Meeting”) will serve as an opportunity for shareholders to vote for a reduced Board that is committed to effective market penetration strategies and shareholder value enhancement.
We urge the Board to embrace the solutions we have proposed to improve Aurinia’s performance, governance and go-forward strategy. Further, ILJIN – as a preeminent shareholder owning more than 5% of the Company’s common stock – can also request the inclusion of resolutions to address these improvements at the upcoming Annual Meeting.
Sincerely,
Lucien Selce
***
View source version on businesswire.com: https://www.businesswire.com/news/home/20240507993484/en/
Contacts
Lucien Selce?Lucienselce@gmail.com

Tuesday, May 07, 2024
Aurinia Pharmaceuticals Shareholder Urges Board Of Directors To Take Action To Enhance Shareholder Value; Outlines Concerns Regarding The Company's Current Strategy And Board Composition And Offers Superior Paths To Improving Performance And Market Penetration
Benzinga Newsdesk - 25 minutes ago

When did they announce the meeting?

I'm guessing/betting AUPH rises before Annual Meeting June 14.

My wager is based on P Greedleaf's request for more shares.''

So I think short term they goose the stock.
Just a hunch.

BTW, an off topic thought: Revance (RVNC) has some similarities to Auphy in that:
They have a great product; maybe the best.
They appear to have poorly performing management also as they are having difficulty selling their excellent product.
RVNC used to sell for $30+ and is now around $4

cheers

Not enough volume, shorts can hammer this down anytime they want.

ARDX holding up pretty good today but our gains have evaporated.

pretty positive ER but know one believes them anymoreI do! The numbers are real, superstition is not a good guide to investing.

I'm starting to think even if this company sold for $2 billion the share price will still be $5 lol. That was a pretty positive ER but know one believes them anymore. ARDX revs caught up to AUPH already...

https://finance.yahoo.com/news/aurinia-pharmaceuticals-reports-first-quarter-100000881.html

FDA Approves Label Update For Aurinia Pharmaceuticals' LUPKYNIS

https://finance.yahoo.com/news/u-food-drug-administration-fda-100000873.html

https://www.nasdaq.com/articles/fda-approves-label-update-for-aurinia-pharmaceuticals-lupkynis

Especially if enough institutional investors tell him they ain’t voting for him.

This is at the point where the CEO announces he is leaving the company

I see petie is posting under his own name now.
great job pete, you put the company in such a dismal rut it cannot climb out of.
5 years as ceo millions of shareholder dollars in your pocket and yet you found away too drop the share price 1.50 lower than when you where given the golden ticket.
pete deserves a cabinet position in the biden administration

My name says it all. How can SEC not see the BS co and do something. Insidwr selling at top on fake rumor?? So much more.

Well so much for yesterday. Following market today.

Well, Auphie up today whilst most bios are down. If news, of course we are last to know. Is it anticipation of something or just shorts getting fatigued?

You're only late by about 8 months buddy. See where you are spamming other boards as well telling them what price the stock is under.

AUPH under $10

Yea, Pete’s not the wonder boy we all hoped he would be, I would agree that his negotiation skills are pretty thin, after all the excitement around AUPH , he let the water get cool down. I brought up your family because you post about them often, so you may want to post with a little less emotion and more forethought. I just can’t believe your still here and holding, remember, always believe in a stock or you’ll get flushed everytime you hear news, or a tip.Id say now is a great time to double down

$2’s almost inevitable now. Only death and taxes.

thanks for keeping track of my family. with a useless ceo that takes a huge check without working for it and sells off stock he didn't pay for.
even with easter coming up, even God cannot resurrect this stock after what pete has done to it. only people worth less than pete is those who keep voting him in. a win for pete is a loss of shareholders and patients. you know where you can roll your easter egg.

Cervelo, damn, you’re still here just holding your cards to your chest??
Are you going to start a fight with your brother at the Easter ?

The "2s", given increasing revenues and a stock buy-back, is a bit of lunge at this point. I can remember a few years ago when the stock traded at this level without an FDA approval.

Possible but unlikely. That would put market cap at 1.5x revenue which would be atomically undervalued.

As predicted $4’s
$2’s almost inevitable now.

Note- I only mentioned "trump" to keep cervelo calmer
cheers.

BEST POST OF THE MONTH, LOL!

Organs from genetically engineered pigs one day may make dialysis obsolete.
I would bet Lupkynis will get there ($1B) first! Note the probability qualifier, I'd say it "may" not get there
in the near term or ever, as a practical, routine procedure. Aurinia's drug will be needed for the foreseeable future. In any case, taking a drug
to keep your own kidney seems preferable to an inter-species transplant.

Obviously FDA approval means nothing....
As long as pete is at the helm.
pettie better unload the other 2/3's of his holdings before the stock price becomes more worthless than he is. Amazing people voted to keep him in and give him a raise, almost 1.75 million a year for doing nothing, based on his incompetence if he is voted to stay on his salary will easily be elevated to over 5 million a year.
Where are the pettiepumpers hiding that always posted that we will not be around by next financials because this pig will be already bought out.
I would say we may not be around by next financials because pete may have destroyed this company to the point of no rteturn.
I understand his playbook has come from joe and barry

Great story!
Maybe no more dialysis in the future.
First heart valves now kidneys.
We must be closely related.
Guessing Greenleaf even more so.
cheers

What do you think will happen faster - Lupy becoming 1b dollar drug or dialysis obsolete?
https://www.nytimes.com/2024/03/21/health/pig-kidney-organ-transplant.html

Moose. its the FDA that matters ...not some PR from AUPH .
Prescribers will follow the FDA PDF ...if they don't they become liable

Kiwi

Doesn't this proof trump the black box?

LONG TERM PHASE 3 DATA PUBLISHED IN ARTHRITIS & RHEUMATOLOGY SHOWS LUPKYNIS® (VOCLOSPORIN) PRESERVED KIDNEY FUNCTION UP TO THREE YEARS IN LUPUS NEPHRITIS PATIENTS WITH NO NEW OR UNEXPECTED ADVERSE EVENTS

https://www.auriniapharma.com/investors-and-media/news-events/press-releases/detail/299/long-term-phase-3-data-published-in-arthritis

*Note- I only mentioned "trump" to keep cervelo calmer
cheers

What is the evidence it should be SOC ( standard of care ) ?
Prescribing PDF limits it use ...read the PDF .
Its a huge risk for the prescriber to prescribe this drug outside of the parameters ..including the monitoring requirements ,,,set forth in the PDF .
They won't do it .
Chk risk of hyperkalemia ...thats how many CKD patients die ...it sets of wild heart arrhythmias

EG
Hyperkalemia: Risk may be increased with other agents associated
with hyperkalemia; monitor serum potassium levels. (5.6)
• QT Prolongation: Consider obtaining electrocardiograms and
monitoring electrolytes in patients at high risk. (5.7)

The time consuming steps a prescriber has to comply with . If patient has an adverse event and files a claim ...first thing the lawyers will ask for is ECG records , records of monitoring electrolytes , serum K levels etc ...its a paper work / time consuming drug to prescribe
Kiwi

Whatalane- why hasn't there been a label change?
You said "It has a boxed warning ...."
True enough.....but the evidence seems overwhelming that Lupkynis deserves to be SOC
Why hasn't this happened?

TIA
cheers

RMB Lupkynis can be a difficult drug to use . https://www.accessdata.fda.gov/drugsatfda_docs/label/2021/213716s000lbl.pdf
It has a boxed warning , not recommended for eGFR < 45 , some time demanding monitoring requirements plus warnings .
Because its an expensive Brand drug the push back from the insurers via prior authorization requisitions ( did your patient try and fail Benylsta ...please document etc or the generics ...etc ) creates huge paper work for Nephrologists and their PA's
The Nephrologist and their PA's are under an intense work load already and to fight thru all the paper work / prior authorization document , monitor the drugs affect etc is more then what most want to deal with unless its almost the last chance for their LN patient to prevent decline into need for dialysis.

My wife knows of only 2 patients on Lupkynis ...largely because of the issues mentioned above .

The Ceo , from an earlier post , seems to be bailing .
I doubt any BP is interested .
JMO
Good luck
Kiwi

Obviously Pete will be gone after this AGM

seems I have support in stating what a lousy manager pete is. and now hw starts selling all the fre stock he awarded himself making MILLIONS off the backs of shareholders. The stock is lower than when he became ceo and yet has stolen millions upon millions. I have always stated pete is only here for pete. so go ahead a slam me ye naysayers. admit you have been the fools and we have all lost money in what should have been a guaranteed winner for shareholders and the people who need the drug.

https://www.sec.gov/Archives/edgar/data/1600620/000110465924036780/tm249351d1_ex99-1.htm?clientlang=2

Moose, your last question is excellent and on point.

Your earlier commentary in the post can be explained by recognizing how our healthcare is strangled by monied interests, like insurers, PBM, etc. The other side that coin is that while Aurinia has enormous margins for Lupy, they apparently are not interested in dropping the price to entice more usage and/or better insurance coverage.

Those huge margins though, should entice BP no?

Hi RMB,

I have to admit I'm mystified by this situation with AUPH.
Last year was a seeming 'no-brainer' opportunity by buying at $5 and change and letting go between $10-12. I'm not sure what to think at the moment.
Here's why it makes no sense to me:
The experts claim:
There are currently between 160K - 1.5M LN sufferers
The incidence rate of LN among SLE patients is between 50-60%
We know that the average cost to get an FDA approved drug takes years and costs $2B plus
There's a financial graveyard of LN drugs that have failed to succeed and have never made it out of the clinic.
Aurinia has probably spent $2B in total costs themselves over many years to achieve the best LN drug ever.

I find it very strange that the uptake for Lupkynis is truly pathetic as they have failed to gain any real sales traction for the best hope for patients with LN ever.
Curiouser and curiouser.

Despite the discouraging track record to date, I still can't resist continuing to nibble away on this.
Why would any Pharma take huge risks on their likely future failure LN candidate when they could simply buy this and use their marketing muscle to make it a winner?

cheers

Moose, kind of explains why Auphie made the oversold list of your previous post. Maybe PG sees the writing on the wall as far as his tenure goes.

Aurinia Pharmaceuticals President Peter Greenleaf Sells 29% Of Holding

https://simplywall.st/stocks/us/pharmaceuticals-biotech/nasdaq-auph/aurinia-pharmaceuticals/news/aurinia-pharmaceuticals-president-peter-greenleaf-sells-29-o

Really surprising that this is here now:

https://stocktwits.com/Big_Red2/message/566327711

11 Oversold Biotech Stocks To Buy Right Now

AUPH is #7
https://finance.yahoo.com/news/11-oversold-biotech-stocks-buy-212004324.html

Pretty sure the date has not yet been set nor announced.

When and where is this month's annual meeting of shareholders?