U.S.-listed shares of Aurinia Pharmaceuticals (AUPH.O) witnessed a significant downturn, plummeting 25% to $6 in pre-market trading. The pharmaceutical company announced the conclusion of its strategic review, initiated in June 2023, but failed to attract any formal offers, a report by Reuters said.
Aurinia Pharmaceuticals will stop research and development on its immunotherapies to focus on its kidney disease drug Lupkynis after failing to attract a formal buyout offer, the company said on Thursday.
ROCKVILLE, Maryland & EDMONTON, Alberta--(BUSINESS WIRE)--Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (Aurinia or the Company) today provided an update on its 2023 fourth quarter and full year business performance, as well as a corporate update regarding the Company's strategic review. This includes corporate actions designed to enhance shareholder value, including an exclusive focus on driving...
Aurinia Pharmaceuticals , the kidney therapies developer that was pushed by activist hedge fund MKT Capital to sell itself, failed to attract binding offers and will embark on share buybacks and cost cuts instead, people familiar with the matter said.
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