Aurinia Pharmaceuticals Inc. Q3 FY2025 earnings call

• LUPKYNIS sales experienced 27% YOY growth in Q3 2025, with continued momentum post ACR lupus nephritis treatment guidelines inclusion. New LUPKYNIS data analyses reinforce its robust clinical profile. - Aritinercept is advancing toward clinical studies in 2 autoimmune diseases following positive Phase I results. Aritinercept is a dual BAFF/APRIL inhibitor with favorable safety profile in Phase I study. - Total revenue for Q3 2025 was $73.5 million, up 8% YOY. Net income for Q3 2025 was $31.6 million, up 119% YOY. Cash flows from operating activities were $44.5 million for Q3 and $90 million for 9 months ended September 30, 2025. The company repurchased 12.2 million shares for $98.2 million in the 9 months ended September 30, 2025.

For the third quarter of 2025, total revenue was $73.5 million, up 8% from $67.8 million in the same period of 2024. Excluding the 2024 milestone payment, total revenue increased by 27%. Net product sales of LUPKYNIS were $70.6 million in Q3 2025, up 27% YOY. For the 9 months ended September 30, 2025, total revenue was $205.9 million, up 17% from $175.3 million in the same period of 2024. Excluding the 2024 milestone, total revenue increased by 25%. Net product sales of LUPKYNIS were $197.2 million for the 9 months ended September 30, 2025, up 24% YOY. LUPKYNIS sales for 2025 are raised to a range of $265 million to $270 million.

• Increased 2025 total revenue guidance from $260 million - $270 million to $275 million - $280 million. - Increased 2025 net product sales guidance from $250 million - $260 million to $265 million - $270 million. - Raised 2025 LUPKYNIS sales guidance to $265 million - $270 million, the second time this year.

• Received an information request from the FDA, but data disclosed is favorable for LUPKYNIS. - Pending complaint against Dr. George Tidmarsh regarding statements about voclosporin, with no further comment on this matter.

Q: Put LUPKYNIS regulatory questions to the side, provide metrics on prescriber habits and comparison to Gazyva A: Focus on high target, high-volume prescribers in rheumatology. ACR guidelines have been a boost. LUPKYNIS is T cell-mediated and helps protect podocytes, complementary to B-cell-mediated treatments like Gazyva Q: FDA information request trigger A: Can't speak specifically to why FDA requested info, but data is favorable Q: Aritinercept dosing in clinical trials A: 150 mg dosing is a starting dose, with higher doses to be explored, details to be disclosed in early 2026 Q: Holdbacks or risks for Q4 performance; impact of ACR guidance A: Physician treatment behaviors take time to change, but positive momentum expected to continue. ACR guidelines positive for patients and treatment Q: Persistency of LUPKYNIS users A: Upward trend in persistency due to favorable safety and efficacy data from extension trials and biopsy sub-study Q: Aritinercept dosing in clinical trials A: 150 mg is viable, with higher doses in multi-ascending dose studies, details to be shared in future