Aurinia Pharma declines as company fails to find buyer

Aurinia Pharmaceuticals

15/02/2024 12:00

**  U.S.-listed shares of drugmaker Aurinia Pharmaceuticals
 AUPH.O  drop 25% to $6 premarket 
    ** Co says concluded its strategic review that began in June
2023, but failed to attract any formal offers, confirming a
Reuters report on Thursday
    ** AUPH to halt development of its immunotherapies, AUR200
and AUR300, to focus on its kidney disease drug Lupkynis
    ** Co also plans to cut employee headcount by at least 25%
by the end of Q1 2024 
     ** AUPH has now initiated a share repurchase program of up
to $150 mln
    ** Stock has risen 1.7% in the last 12 months 
    

 (Reporting by Sneha  S K)
 ((Sneha.SK@thomsonreuters.com;))