Aurinia Pharmaceuticals Inc. (AUPH) stock plunged 17.46% in the after-market trading session at the price of $23.50 despite no fundamental reason. The last published news was its financial results for the third quarter and nine months ended 30th September 2021.
AUPH is a fully integrated biopharmaceutical firm that provides therapies to treat targeted patients dealing with serious diseases.
AUPH Third Quarter & Nine Months 2021 Financial Results
On 3rd November 2021, AUPH reported its financial results for the third quarter and nine months ended 30th September 2021. The company has also presented its corporate updates.
Third Quarter Earnings Report
For the third quarter ended 30th September 2021, AUPH calculated $14.7 million in revenue. Total revenue was $29 thousand for the quarters ended 30th September 2020. For the third quarter of 2021, net loss totaled $50.3 million, or per common share of $0.39. Net loss was $42.1 million, or per common share of $0.34, for the third quarter of 2020.
For the third quarter ended 30th September 2021, research and development costs were $20.1 million. R&D expenses totaled $12.2 million for the third quarter ended 30th September 2020. Selling, general, and administrative expenses totaled $44.1 million for the third quarter of 2021. For the quarter 30th September 2020, AUPH reported SG&A expenses of $30.7 million.
Nine Months Financial Highlights
For the nine months ended 30th September 2021, AUPH reported revenue of $22.2 million. Total revenue was $88 thousand for the nine months ended 30th September 2020. For the nine months ended 30th September 2021, net loss totaled $147.6 million, or per common share of $1.15. Net loss was $94.6 million, or per common share of $0.82, for the same nine months of 2020.
Net cash from operating activities totaled $131.8 million for the nine months ended on 30th September 2021 compared to $73.1 million for the same nine months of 2020. As of 30th September 2021, AUPH had $286.4 million in cash, cash equivalents, and investments. The cash, cash equivalents, and investments totaled $422.7 million on 31st December 2020. For the nine months ended 30th September 2021, research and development expenses were approximately $40.0 million.
