Aurinia Pharmaceuticals jumps after Tang Capital reports 5.1% stake in co

AGM group

13/09/2024 16:52

** U.S.-listed shares of drugmaker Aurinia Pharmaceuticals
 AUPH.O  up 6.6% at $7.01
    ** Tang Capital Management reports 5.1% stake in AUPH as of
Sept. 6
    ** Separately, AUPH said on Thursday it has restructured its
board and has allowed CEO Peter Greenleaf to continue as a
director
    ** AUPH says Greenleaf had conditionally resigned as a
director because he received less-than-majority support at the
2024 AGM
    ** Company's board says it has considered all relevant
factors and determined there are exceptional circumstances that
warrant the rejection of Greenleaf's conditional resignation
    ** AUPH says its board has appointed Kevin Tang, president
of Tang Capital Management as a director 
    ** Shareholder Lucien Selce, co-founder of Vista Capital
Management, has been urging other investors in AUPH to remove
the CEO 
    ** Stock was down nearly 27% YTD

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam))