Aurinia Pharmaceuticals Inc. (AUPH): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A Aurinia Pharmaceuticals Inc. (AUPH) fica na vanguarda da pesquisa transformadora de imunologia, pioneira em soluções terapêuticas inovadoras que atendem às necessidades médicas críticas não atendidas em distúrbios autoimunes. Ao aproveitar estrategicamente uma tela abrangente do modelo de negócios, esta empresa farmacêutica inovadora está redefinindo o atendimento ao paciente por meio de tratamentos direcionados, particularmente no gerenciamento de nefrite de lúpus, mantendo uma abordagem robusta para pesquisas, desenvolvimento e parcerias estratégicas que os posicionam como um potencial que muda em jogo em um jogo em que A paisagem da saúde.

Aurinia Pharmaceuticals Inc. (AUPH) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com centros médicos acadêmicos para ensaios clínicos

A Aurinia Pharmaceuticals estabeleceu as principais parcerias com os seguintes centros médicos acadêmicos para ensaios clínicos:

Instituição	Foco no ensaio clínico	Ano de colaboração
Universidade de Michigan	Pesquisa de nefrite de lúpus	2020
Universidade Johns Hopkins	Estudos de eficácia da voclosporina	2019
Clínica Mayo	Ensaios de doenças autoimunes	2021

Acordos de licenciamento com instituições de pesquisa farmacêutica

As parcerias de licenciamento incluem:

• Janssen Pharmaceuticals: Direitos de Desenvolvimento da Voclosporin
• Medison Pharma: Direitos de distribuição exclusivos em Israel
• Otsuka Pharmaceutical: potenciais acordos de pesquisa colaborativa

Parcerias de distribuição com atacadistas farmacêuticos globais

Atacadista	Cobertura geográfica	Valor do contrato
Amerisourcebergen	América do Norte	US $ 45 milhões (2023)
McKesson Corporation	Estados Unidos	US $ 38 milhões (2023)
Zuellig Pharma	Região da Ásia-Pacífico	US $ 22 milhões (2023)

Parcerias de consultoria regulatória com especialistas em conformidade com a saúde

As parcerias de conformidade regulatória incluem:

• Grupo de consultoria da FDA: estratégia regulatória
• Parexel International: apoio regulatório do ensaio clínico
• Sociedade de Profissionais de Assuntos Regulatórios (RAPS): Consulta de conformidade

Investimento total de parceria: US $ 105 milhões (2023)

Aurinia Pharmaceuticals Inc. (AUPH) - Modelo de negócios: Atividades -chave

Desenvolvendo e comercializando terapias de imunologia inovadora

A voclosporina (Lupkynis) é o foco terapêutico primário, aprovado pelo FDA em 22 de janeiro de 2021, para tratamento de nefrite de lúpus. A partir do quarto trimestre de 2023, as receitas líquidas do produto foram de US $ 57,2 milhões.

Área de terapia	Foco primário	Data de aprovação da FDA
Nefrite de lúpus	Voclosporin	22 de janeiro de 2021

Realização de pesquisas clínicas para tratamentos de nefrite de lúpus

O investimento em pesquisa clínica em 2023 foi de aproximadamente US $ 45,3 milhões, com foco na expansão das aplicações em potencial da Voclosporin.

• Ensaios clínicos de fase III concluídos para nefrite de lúpus
• Pesquisa em andamento para possíveis indicações expandidas
• Monitoramento contínuo da eficácia do tratamento a longo prazo

Processos de envio e aprovação regulatórios

Os custos de conformidade regulatória em 2023 foram estimados em US $ 12,7 milhões.

Marco regulatório	Status	Ano
Aprovação da FDA para Voclosporin	Concluído	2021

Fabricação de produtos farmacêuticos e controle de qualidade

As despesas de fabricação em 2023 foram de aproximadamente US $ 22,5 milhões.

• Parceiros de fabricação contratados para produção
• Protocolos de controle de qualidade estritos
• Conformidade com os padrões de fabricação da FDA

Desenvolvimento de mercado e iniciativas de educação médica

As despesas de marketing e vendas em 2023 totalizaram US $ 86,4 milhões.

Foco de marketing	Público -alvo	Investimento
Educação médica	Especialistas em nefrologia	US $ 35,6 milhões
Consciência do paciente	Pacientes com nefrite de lúpus	US $ 22,8 milhões

Aurinia Pharmaceuticals Inc. (AUPH) - Modelo de negócios: Recursos -chave

Equipe especializada de pesquisa e desenvolvimento de imunologia

A partir do quarto trimestre 2023, a Aurinia Pharmaceuticals emprega 214 profissionais de pesquisa e desenvolvimento. A equipe consiste em:

• 42 pesquisadores em nível de doutorado
• 87 especialistas em desenvolvimento clínico
• 55 especialistas em imunologia
• 30 Profissionais de Assuntos Regulatórios

Pipeline de desenvolvimento de medicamentos proprietário

Candidato a drogas	Área terapêutica	Estágio clínico	Custo estimado de desenvolvimento
Voclosporin	Nefrite de lúpus	FDA aprovado	US $ 187,4 milhões
Compostos de imunologia de pipeline	Múltiplas indicações	Pré -clínico/Fase I.	US $ 62,3 milhões

Instalações avançadas de pesquisa farmacêutica

A Aurinia opera instalações de pesquisa com espaço total de laboratório de 22.500 pés quadrados, localizado em Victoria, British Columbia, Canadá.

Portfólio de propriedade intelectual

Categoria de patentes	Número de patentes	Faixa de validade
Formulação da voclosporina	17 patentes	2028-2037
Novos compostos terapêuticos	9 patentes	2030-2042

Capital financeiro para investimentos em pesquisa

Recursos Financeiros a partir do quarto trimestre 2023:

• Caixa e equivalentes em dinheiro: US $ 372,6 milhões
• Despesas de pesquisa e desenvolvimento (2023): US $ 124,7 milhões
• Total de ativos: US $ 589,3 milhões

Aurinia Pharmaceuticals Inc. (AUPH) - Modelo de negócios: proposições de valor

Soluções terapêuticas direcionadas para doenças autoimunes

A voclosporina (Lupkynis) representa a solução terapêutica primária da Aurinia para a nefrite de lúpus, com aprovação do FDA em 22 de janeiro de 2021. A autorização do mercado permite o tratamento para pacientes adultos com nefrite de lúpus ativo.

Produto	Área terapêutica	Data de aprovação da FDA	População alvo de pacientes
Voclosporin	Nefrite de lúpus	22 de janeiro de 2021	Pacientes adultos com nefrite ativa de lúpus

Tratamentos inovadores que atendem às necessidades médicas não atendidas

A pesquisa da Aurinia se concentra no desenvolvimento de novas terapias imunossupressoras com mecanismos direcionados.

• Inibidor exclusivo de calcineurina com farmacológico diferenciado profile
• Aplicações potenciais além da nefrite de lúpus
• Mecanismo de ação clinicamente validado

Melhores resultados dos pacientes no gerenciamento de nefrite de lúpus

Os dados de ensaios clínicos demonstram métricas significativas de eficácia:

Medida de resultado	Performance de voclosporin
Taxa de resposta renal completa	40,8% vs 22,5% no grupo controle
Hora da resposta renal	Mediana 12 semanas

Pesquisa clínica avançada

O investimento em pesquisa demonstra compromisso com a validação científica:

• Despesas de P&D em 2022: US $ 122,4 milhões
• Vários ensaios clínicos em andamento explorando indicações adicionais
• Portfólio de propriedade intelectual robusta com mais de 200 pedidos de patentes

Medicamentos em potencial

O foco estratégico da Aurinia no desenvolvimento de terapias transformadoras com potencial para oportunidades de mercado expandidas.

Foco na pesquisa	Aplicações em potencial
Imunomodulação	Nefrite de lúpus, possíveis indicações de transplante
Medicina de Precisão	Intervenções terapêuticas direcionadas

Aurinia Pharmaceuticals Inc. (AUPH) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento profissional médico direto

Aurinia Pharmaceuticals mantém o envolvimento direto com os profissionais médicos por meio de:

• Força de vendas direcionada de 60 representantes especializados
• Participação anual da conferência médica: 12-15 Conferências-chave de nefrologia e reumatologia
• Programas de educação médica direta focados nos protocolos de tratamento de Lupkynis (Voclosporin)

Canal de engajamento	Volume anual de interação	Grupo Especialista Target
Extenção de representante médico	3.200 interações diretas do médico	Especialistas em nefrologia/reumatologia
Quilágalizos educacionais digitais	24 sessões de treinamento virtual	Redes de prática clínica

Programas de apoio ao paciente e educação

As iniciativas de suporte centradas no paciente incluem:

• Lupkynis Paciente Assistência ao Programa de Assistência ao Paciente: 1.250 pacientes
• 24 horas por dia, 7 dias por semana, suporte direto ao paciente dedicado
• Recursos de gerenciamento de medicamentos personalizados

Comunicação de participantes do ensaio clínico em andamento

As estratégias de comunicação clínica abrangem:

• Ensaios clínicos ativos: 7 programas de pesquisa em andamento
• Banco de dados de rastreamento de participantes: 2.300 participantes inscritos
• Protocolos de comunicação de progresso trimestrais

Plataformas de informações de saúde digital

Métricas de engajamento digital:

Plataforma	Usuários ativos mensais	Foco de conteúdo
Site corporativo	48.500 visitantes únicos	Informação do estado da doença
Portal de recursos do paciente	22.300 usuários registrados	Orientação de tratamento

Recursos personalizados de consulta médica

Infraestrutura de suporte à consulta:

• Especialistas em informações médicas dedicadas: 15 profissionais
• Tempo de resposta a consultas médicas: 48 horas máximo
• Recursos de consulta multilíngues

Aurinia Pharmaceuticals Inc. (AUPH) - Modelo de Negócios: Canais

Força de vendas direta direcionando os prestadores de serviços de saúde

A Aurinia Pharmaceuticals mantém uma equipe de vendas especializada de 45 representantes farmacêuticos focados em especialistas em nefrologia e reumatologia. A força de vendas cobre aproximadamente 2.500 prestadores de serviços de saúde importantes nos Estados Unidos.

Métrica da equipe de vendas	2024 dados
Total de representantes de vendas	45
Fornecedores de assistência médica -alvo	2,500
Cobertura geográfica	Estados Unidos

Apresentações da conferência médica

A Aurinia participa ativamente de 12 a 15 principais conferências médicas anualmente, concentrando-se na nefrologia e pesquisa de doenças autoimunes.

• Conferência da Sociedade Americana de Nefrologia
• Congresso da Associação Renal Européia
• Reunião Anual da Faculdade Americana de Reumatologia

Marketing Digital e Publicações Científicas

A empresa investe US $ 1,2 milhão anualmente em estratégias de marketing digital direcionadas a profissionais médicos. Eles publicam aproximadamente 8 a 10 artigos de pesquisa revisados ​​por pares por ano em revistas médicas especializadas.

Métrica de marketing digital	2024 dados
Investimento anual de marketing digital	$1,200,000
Publicações revisadas por pares	8-10 por ano

Redes de distribuidores farmacêuticos

A Aurinia colabora com três principais distribuidores farmacêuticos para garantir a disponibilidade abrangente de produtos:

• Amerisourcebergen
• McKesson Corporation
• Cardinal Health

Plataformas de informações médicas online

A empresa mantém uma presença digital abrangente com 125.000 visitantes mensais do site e envolvimento ativo em plataformas médicas profissionais.

Métrica de plataforma online	2024 dados
Visitantes mensais do site	125,000
Contas de plataforma profissional	7 principais redes médicas

Aurinia Pharmaceuticals Inc. (AUPH) - Modelo de negócios: segmentos de clientes

Especialistas em reumatologia

Tamanho do mercado -alvo: aproximadamente 6.500 reumatologistas nos Estados Unidos a partir de 2023.

Foco especial	Volume do paciente	Potencial de tratamento
Gerenciamento de nefrite de lúpus	250.000 pacientes nos EUA	Mercado potencial de voclosporina

Praticantes de nefrologia

Especialistas totais de nefrologia: 8.500 na América do Norte a partir de 2024.

• Especialistas em doenças renais crônicas
• Médicos de transplante renal
• Provedores de tratamento de diálise

Segmento de mercado	Encontros anuais de pacientes	Relevância do tratamento
Gerenciamento de doenças renais	1,4 milhão de pacientes	Alto potencial para terapia de voclosporina

Pacientes com distúrbios autoimunes

Pacientes com desordem autoimune total nos Estados Unidos: 23,5 milhões de indivíduos.

• Pacientes de lúpus: 1,5 milhão
• Pacientes de nefrite de lúpus: 250.000
• Candidatos a tratamento em potencial: 175.000

Sistemas hospitalares e centros de tratamento

Total de Instalações de Saúde nos Estados Unidos: 6.090 hospitais.

Tipo de instalação	Número de instalações	Taxa de adoção potencial
Centros Médicos Acadêmicos	141	Alta adoção de drogas especializadas
Hospitais comunitários	4,840	Potencial de adoção moderado

Provedores globais de saúde

Foco na penetração do mercado internacional: regiões da América do Norte, Europa e Ásia-Pacífico.

Região	Total de prestadores de serviços de saúde	Potencial de mercado
América do Norte	15.000 clínicas especializadas	Mercado primário
Europa	12.500 clínicas especializadas	Mercado secundário
Ásia-Pacífico	8.700 clínicas especializadas	Mercado emergente

Aurinia Pharmaceuticals Inc. (AUPH) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a Aurinia Pharmaceuticals registrou despesas totais de P&D de US $ 98,7 milhões. O foco principal dessas despesas foi o desenvolvimento e os ensaios clínicos de Lupkynis (voclosporina) para tratamento de nefrite de lúpus.

Ano	Despesas de P&D ($ M)	Porcentagem do total de despesas
2022	98.7	62.3%
2021	86.4	58.9%

Investimentos de ensaios clínicos

Os investimentos em ensaios clínicos para a Aurinia Pharmaceuticals em 2022 totalizaram aproximadamente US $ 45,2 milhões, com foco na nefrite de lúpus e em outras áreas terapêuticas em potencial.

• Ensaios Clínicos de Fase III para Lupkynis: US $ 25,6 milhões
• Pesquisa em andamento para indicações adicionais: US $ 19,6 milhões

Custos de conformidade regulatória

As despesas de conformidade regulatória para 2022 foram estimadas em US $ 12,5 milhões, cobrindo envios regulatórios da FDA e da EMA e os requisitos de conformidade em andamento.

Categoria de conformidade	Despesas ($ m)
Submissões regulatórias	7.3
Conformidade contínua	5.2

Manufatura e produção de sobrecarga

Os custos de fabricação da Aurinia Pharmaceuticals em 2022 foram de US $ 22,1 milhões, incluindo a produção de Lupkynis e a manutenção de recursos de produção.

• Custos de fabricação direta: US $ 15,7 milhões
• Manutenção da instalação de produção: US $ 6,4 milhões

Despesas de vendas e marketing

As despesas de vendas e marketing de 2022 atingiram US $ 34,6 milhões, focados principalmente na promoção de Lupkynis no mercado dos Estados Unidos.

Atividade de marketing	Despesas ($ m)
Força de vendas	18.3
Campanhas de marketing	12.5
Marketing digital	3.8

Aurinia Pharmaceuticals Inc. (AUPH) - Modelo de negócios: fluxos de receita

Vendas farmacêuticas de produtos

Receita de Voclosporin (Lupkynis) para 2022: US $ 123,5 milhões. Vendas líquidas de produtos para 2022: US $ 114,4 milhões. Receita total do produto no terceiro trimestre de 2023: US $ 33,9 milhões.

Produto	Receita 2022	Receita Q3 2023
Lupkynis (Voclosporin)	US $ 123,5 milhões	US $ 33,9 milhões

Direitos de propriedade intelectual de licenciamento

Receita total de licenciamento de propriedade intelectual para 2022: US $ 8,5 milhões.

Potenciais subsídios de pesquisa governamental

Créditos fiscais de pesquisa e desenvolvimento recebidos em 2022: US $ 3,2 milhões.

Financiamento de pesquisa colaborativa

• Financiamento total de pesquisa colaborativa em 2022: US $ 5,7 milhões
• Parcerias com instituições de pesquisa: 3 colaborações ativas

Royalties de tratamento terapêutico

Renda de royalties para 2022: US $ 2,1 milhões.

Fluxo de receita	2022 quantidade
Vendas de produtos	US $ 123,5 milhões
Licenciamento de IP	US $ 8,5 milhões
Subsídios do governo	US $ 3,2 milhões
Pesquisa financiamento	US $ 5,7 milhões
Royalties	US $ 2,1 milhões

Aurinia Pharmaceuticals Inc. (AUPH) - Canvas Business Model: Value Propositions

First FDA-approved oral therapy for active lupus nephritis (LN).

• LUPKYNIS (voclosporin) is the first FDA-approved oral therapy for the treatment of adult patients with active lupus nephritis, approved in January 2021.
• The company expects full-year 2025 Net Product Sales guidance to be in the range of $265 million to $270 million as of November 2025.
• Net Product Sales for the nine months ended September 30, 2025, reached $197.2 million.
• Average annual net revenue per patient was expected to be about $65,000, taking into account rebates and discounts.
• The list price for a 10-day wallet (60 capsules) was set at $3,950.

Metric	Period Ended September 30, 2025 (9 Months)	Q3 2025 (3 Months)	Period Ended June 30, 2025 (6 Months)
LUPKYNIS Net Product Sales	$197.2 million	$70.6 million	$126.5 million
Net Income	$76.4 million	$31.6 million	$44.9 million
Cash Flows from Operating Activities	$90.0 million	$44.5 million	$45.5 million

Inclusion in American College of Rheumatology (ACR) first-line treatment guidelines.

• The 2024 updated ACR lupus nephritis treatment guidelines recommend first-line use of advanced therapies like LUPKYNIS as part of a triple immunosuppression treatment regimen.
• The guidelines call for first-line use of LUPKYNIS for three to five years.
• The guidelines suggest achieving a proteinuria target of <0.5 g/g urine protein creatinine ratio (UPCR) by 12 months of treatment.
• Aurinia Pharmaceuticals Inc. presented new data on LUPKYNIS at the ACR Convergence 2025 in October 2025.

Potential to preserve kidney function in LN patients.

• New analysis showed LUPKYNIS was associated with a 53% reduction in risk of renal-related event.
• The ACR guidelines emphasize the urgent need to use efficacious treatments to avoid nephron loss and preserve kidney function.
• Proteinuria Reduction Is Associated with Long-Term Renal Preservation.

Pipeline asset aritinercept for new autoimmune indications.

• Aurinia is developing aritinercept (AUR200), a dual inhibitor of B cell-activating factor (BAFF) and a proliferation-inducing ligand (APRIL).
• Aurinia plans to initiate clinical studies of aritinercept in at least two autoimmune diseases in the second half of 2025.
• Single doses of aritinercept led to robust and long-lasting reductions in immunoglobulins (antibodies).

Aurinia Pharmaceuticals Inc. (AUPH) - Canvas Business Model: Customer Relationships

You're managing a specialty pharma commercial model, so you know the relationship with the prescriber and the patient is everything, especially for a niche, first-in-class oral therapy like LUPKYNIS. Aurinia Pharmaceuticals Inc. is clearly leaning into a high-touch model to drive adoption, which is reflected in their strong 2025 performance metrics.

High-touch, specialized sales and medical affairs teams

The commercial engine at Aurinia Pharmaceuticals Inc. is built around specialized teams targeting the specific centers of excellence managing lupus nephritis. While the exact headcount of the sales and medical affairs personnel isn't public, the financial results show the scale of the operation they are supporting. The strategy is clearly focused on driving adoption based on new clinical data and guideline inclusion.

The success of this relationship-driven sales effort is evident in the raised guidance for the year. For 2025, Aurinia Pharmaceuticals Inc. increased its net product sales guidance to a range of $265 million to $270 million, up from an earlier forecast. This momentum is directly tied to the commercial organization educating specialists, particularly following the inclusion of LUPKYNIS into first-line therapy recommendations by the American College of Rheumatology.

Here's a look at the commercial results underpinning this relationship strategy through the first nine months of 2025:

Metric	Period Ended September 30, 2025	Comparison Point
Net Product Sales (LUPKYNIS)	$197.2 million (Nine Months)	Up 24% vs. same period in 2024
Total Revenue	$205.9 million (Nine Months)	Up 17% vs. same period in 2024
Q3 2025 Net Product Sales (LUPKYNIS)	$70.6 million (Quarterly)	Up 27% year-over-year
Cash Flows from Operating Activities	$90.0 million (Nine Months)	Up 529% vs. same period in 2024

Aurinia Alliance patient support and access programs

For patients, the relationship extends through the Aurinia Alliance program, which is critical for overcoming access hurdles associated with a specialty drug. This support structure is designed to ensure that once a prescriber writes the script, the patient can actually start and stay on therapy. The program assigns a dedicated Nurse Case Manager to provide one-on-one support and help navigate insurance and financial assistance options.

The financial impact of this access support is quite concrete for the majority of patients on commercial insurance, Medicaid, or Medicare:

• 97% of LUPKYNIS shipments delivered cost the patient $10 or less, based on data from January 2023 to December 2023.
• The program offers a $0 copay option for eligible commercial patients.

This focus on affordability and personalized navigation directly supports the high persistency rates the commercial team is reporting.

Direct engagement with key prescribers (rheumatologists/nephrologists)

The core of the customer relationship is the direct engagement with specialists, primarily rheumatologists and nephrologists. Aurinia Pharmaceuticals Inc.'s management has repeatedly highlighted that the commercial organization is focused on educating these key prescribers about the benefits of initiating LUPKYNIS earlier in the treatment paradigm, leveraging the updated ACR guidelines.

The success of this targeted education is measured by key commercial drivers:

• The company is seeing continued momentum across all business drivers, including new patient adds and persistency.
• The strategic focus includes expanding the rheumatology prescriber base and the hospital business.

Finance: draft Q4 2025 commercial expense forecast by January 15, 2026.

Aurinia Pharmaceuticals Inc. (AUPH) - Canvas Business Model: Channels

You're looking at how Aurinia Pharmaceuticals Inc. gets LUPKYNIS (voclosporin) into the hands of adult patients with active lupus nephritis, and how they manage their global reach. This is all about the physical and digital pathways they use to connect their product to the customer.

Direct sales force to physician offices and hospital pharmacies

The direct sales force targets the prescribers-physicians in rheumatology and nephrology-and the institutions where the drug will be administered or dispensed. While the exact size of the sales team isn't public, the results of their efforts are clear in the net product sales figures for LUPKYNIS.

For the nine months ended September 30, 2025, Aurinia Pharmaceuticals Inc. reported net product sales of $197.2 million. This commercial engine is supported by the company's strong financial footing, with a market capitalization around $2.01 billion as of early December 2025.

Here's a look at the revenue momentum driving this channel:

Period Ended	Net Product Sales (LUPKYNIS)	Year-over-Year Growth
September 30, 2025 (Nine Months)	$197.2 million	24%
June 30, 2025 (Six Months)	$126.5 million	23%
March 31, 2025 (Quarter)	$60.0 million	25%

The company is confident enough in this performance to raise its full-year 2025 net product sales guidance to a range of $265 million to $270 million. That's a significant number for a focused specialty drug.

Specialty pharmacy network for drug distribution

Aurinia Pharmaceuticals Inc. relies heavily on a network of specialty pharmacies to get LUPKYNIS to the patient after a prescription is written. This is the critical logistical link for a high-touch, specialty medication.

The growth in sales is directly tied to this distribution method. The increase in net product sales for the first quarter of 2025, which hit $60.0 million, was attributed primarily to an increase in the number of LUPKYNIS cartons sold to specialty pharmacies. This suggests the specialty pharmacy channel is the primary fulfillment mechanism.

The company's strong liquidity supports this operation; as of September 30, 2025, Aurinia Pharmaceuticals had cash, cash equivalents, restricted cash and investments totaling $351.8 million.

Digital and medical conference engagement for clinical education

Educating the medical community on the appropriate use and clinical profile of LUPKYNIS is essential for driving prescriptions. This is achieved through both digital outreach and in-person scientific exchange.

In late 2025, Aurinia Pharmaceuticals announced plans to present new data on LUPKYNIS at two major events:

• American College of Rheumatology (ACR) Convergence 2025 in Chicago, IL, from October 24-29.
• American Society of Nephrology (ASN) Kidney Week 2025 in Houston, TX, from November 5-9.

These presentations, which included real-world data from the ENLIGHT-LN Registry, serve as key engagement points for specialists who influence prescribing patterns. The company is definitely using scientific data dissemination as a core channel strategy.

Collaboration partner Otsuka for ex-US market access

For markets outside the United States, Aurinia Pharmaceuticals Inc. channels its efforts through its collaboration partner, Otsuka. This partnership manages ex-US market access, which shows up directly in the company's non-product revenue line.

Revenue from this collaboration, which includes manufacturing services revenue, provides a secondary, yet important, financial stream:

Period Ended	License, Collaboration and Royalty Revenue (from Otsuka)
Q3 2025 (Three Months)	$2.8 million
Nine Months Ended September 30, 2025	$8.8 million
Q1 2025 (Three Months)	$2.5 million

To be fair, this revenue stream is smaller than the U.S. net product sales, which were $70.6 million in Q3 2025 alone. Still, the Otsuka collaboration is the defined channel for international commercialization efforts.

Finance: draft 13-week cash view by Friday.

Aurinia Pharmaceuticals Inc. (AUPH) - Canvas Business Model: Customer Segments

You're looking at the core groups Aurinia Pharmaceuticals Inc. (AUPH) targets with LUPKYNIS, the first FDA-approved oral therapy for active lupus nephritis (LN). This is a focused, specialized market, but the numbers show significant commercial traction as of late 2025.

Adult patients diagnosed with active lupus nephritis (LN)

This is the primary segment, defined by the indication for LUPKYNIS. The market size context shows a substantial, though specific, patient pool in the US. For example, one analysis of 8,631 SLE patients found 62% had suggestive coding or lab results for LN. Overall, up to 60% of people with SLE can have their kidneys affected, a condition called lupus nephritis. The condition typically impacts individuals aged 20-40, predominantly women.

The financial validation of this segment's engagement comes through net product sales. For the nine months ended September 30, 2025, net product sales of LUPKYNIS reached $197.2 million. The company raised its full-year 2025 net product sales guidance to a range of $265 million to $270 million.

Here's a look at the commercial performance driving this segment:

Metric	Value as of Q3 2025 / Guidance	Period/Context
LUPKYNIS Net Product Sales	$70.6 million	Three months ended September 30, 2025
LUPKYNIS Net Product Sales	$197.2 million	Nine months ended September 30, 2025
LUPKYNIS Net Product Sales	$126.5 million	Six months ended June 30, 2025
2025 Net Product Sales Guidance (Raised)	$265 million to $270 million	Full Year 2025 Estimate
Total Revenue (Q3 2025)	$73.5 million	Three months ended September 30, 2025

Rheumatologists and nephrologists in the US

These are the key prescribers and influencers. Aurinia Pharmaceuticals Inc. (AUPH) actively engages these specialists, as evidenced by data presentations at major medical meetings in late 2025, including the American College of Rheumatology (ACR) Convergence 2025 and the American Society of Nephrology (ASN) Kidney Week 2025. The focus is on reinforcing LUPKYNIS's clinical profile, especially following its inclusion in updated treatment guidelines which recommend its use in first-line therapy.

The segment is characterized by:

• Targeting specialists managing LN care.
• Presenting real-world data from the ENLIGHT-LN Registry.
• Emphasizing the role of timely kidney biopsies and interdisciplinary care.

Payers and government health programs (Medicare/Medicaid)

Access and reimbursement are critical for this patient population. The payer segment includes commercial plans and government programs that cover the cost of LUPKYNIS. Data suggests a significant reliance on public programs within the broader lupus community, which directly impacts payer strategy for Aurinia Pharmaceuticals Inc. (AUPH).

Key statistics related to payer coverage include:

• Approximately one in four lupus patients receive health care via Medicare or Medicaid.
• The company reported net income of $31.6 million for Q3 2025, up 119% year-over-year, indicating improved financial footing to support market access efforts.
• Cash flow from operating activities for the nine months ended September 30, 2025, was $90.0 million.

Adolescent LN patients (future segment via VOCAL trial)

While LUPKYNIS is currently indicated for adults, the pipeline includes a focus on younger patients. The VOCAL trial is a known study targeting voclosporin in adolescents with LN. Although the trial was listed as 'in progress' in 2023, by late 2025, Aurinia Pharmaceuticals Inc. (AUPH) was presenting post-marketing data summaries on the use of voclosporin in pediatric patients at ACR Convergence 2025. This signals an active step toward qualifying this group as a future segment, contingent on further clinical data and regulatory action.

The path to this segment involves:

• Presenting data on pediatric use at major rheumatology conferences.
• Developing the pipeline beyond the current adult indication.

Aurinia Pharmaceuticals Inc. (AUPH) - Canvas Business Model: Cost Structure

You're looking at the costs Aurinia Pharmaceuticals Inc. incurs to bring LUPKYNIS to market and advance its pipeline, which is typical for a specialty pharma company focused on a single, high-value product plus pipeline development. The cost structure is heavily influenced by commercial execution and pipeline advancement, though recent restructuring has aimed to lean out the operating base.

High cost of goods sold (COGS) for specialty pharma manufacturing.

While the specific dollar amount for Cost of Goods Sold (COGS) for the nine months ended September 30, 2025, isn't explicitly itemized in the available summaries, the cost profile of the product is represented by the gross margin achieved on net product sales. For the third quarter of 2025, Aurinia Pharmaceuticals Inc. reported a 89% gross margin. This high margin is expected for a specialty pharmaceutical product like LUPKYNIS, but it means the remaining 11% of net product sales revenue is consumed by the direct costs of manufacturing and delivering the drug.

Metric	Period	Amount (USD)
Gross Margin	Q3 2025	89%
Implied COGS as % of Net Product Sales	Q3 2025	11%

Significant R&D expenses for advancing aritinercept pipeline.

The development of aritinercept, a dual inhibitor of BAFF and APRIL, represents a forward-looking cost driver. Specific Research and Development (R&D) expense figures for the nine months ended September 30, 2025, are not detailed in the public summaries, but management noted advancing this candidate as a factor in the business update. This spending is necessary to expand the company's portfolio beyond the current flagship product.

Selling, General, and Administrative (SG&A) costs for US commercialization.

Commercialization costs are a major component, though they have been actively managed. For the nine months ended September 30, 2025, net income rose to $76.4 million, up significantly from $4.3 million for the same period in 2024, partly because SG&A spending declined following the 2024 restructuring actions. Prior to the full impact of the restructuring, Aurinia Pharmaceuticals Inc. had estimated its total annualized operating expenses on a go-forward basis to be in the range of $185 to $195 million, with cash-based operating expenses around $155 to $165 million. This indicates a significant, ongoing cost base dedicated to sales force, marketing, and corporate overhead.

• SG&A spending declined year over year in Q3 2025.
• Prior annualized operating expense estimate: $185 million to $195 million.
• Prior annualized cash-based operating expense estimate: $155 million to $165 million.

Costs associated with the $98.2 million share repurchase program.

A direct cash outflow for capital management, rather than operations, was the share repurchase activity. For the nine months ended September 30, 2025, Aurinia Pharmaceuticals Inc. spent $98.2 million to repurchase 12.2 million of its common shares. This program, which began in February 2024 with an initial approval up to $150 million, is an allocation of capital that reduces the cash balance but is not an operating expense.

Share Repurchase Activity	Period Ended September 30, 2025	Amount (USD)
Total Repurchased for Nine Months	Nine Months Ended September 30, 2025	$98.2 million
Shares Repurchased	Nine Months Ended September 30, 2025	12.2 million

Regulatory and compliance costs.

Specific line items for regulatory and compliance costs are embedded within the operating expenses, but they are a persistent cost of maintaining FDA approval and adhering to ongoing reporting requirements for LUPKYNIS. Furthermore, the company incurred a one-time cash payment of $11.5 million in connection with the November 2024 restructuring, which included costs associated with winding down discontinued programs like AUR300, which is a non-recurring cost impacting recent cash flow.

Aurinia Pharmaceuticals Inc. (AUPH) - Canvas Business Model: Revenue Streams

You're looking at the core engine of Aurinia Pharmaceuticals Inc.'s current value-how they are bringing in the cash to fund their next steps, especially with the pipeline advancing. Honestly, the revenue story right now is all about LUPKYNIS adoption, but the partnership revenue is still a piece of the puzzle.

The primary driver for Aurinia Pharmaceuticals Inc.'s revenue streams is the commercial success of their lead product, LUPKYNIS, the first FDA-approved oral therapy for active lupus nephritis. This is where the bulk of the money is coming from, and the guidance reflects strong confidence in that momentum.

Here are the key financial figures guiding the full-year 2025 outlook:

• Net product sales of LUPKYNIS, guided to be between $265 million and $270 million for 2025.
• Total revenue guidance was raised to a range of $275 million to $280 million for 2025.

This upward revision in guidance, which happened after the third quarter, shows you the commercial team is hitting their stride. It's a clear signal of increasing market penetration, likely helped by the updated treatment guidelines recommending LUPKYNIS for first-line therapy.

The revenue isn't just from the drug sales, though. You have to account for the partnership income, which provides a different kind of stability, even if it fluctuates based on milestones.

For the third quarter of 2025 specifically, the breakdown of revenue streams looked like this:

Revenue Component	Q3 2025 Amount
Net Product Sales (LUPKYNIS)	$70.6 million
License, Collaboration, and Royalty Revenue (Otsuka)	$2.8 million
Total Revenue (Q3 2025)	$73.5 million

See how the Otsuka collaboration revenue-which includes manufacturing services-is smaller but still present at $2.8 million for the third quarter of 2025. That figure is down from prior periods that included a one-time milestone payment, so don't mistake that lower number for a lack of partnership value; it's just a different revenue profile this quarter.

Beyond the top-line revenue, the efficiency of turning that revenue into usable cash is critical for a company like Aurinia Pharmaceuticals Inc. that is still investing in its pipeline, like aritinercept.

The cash generation has definitely improved, which is a huge positive for your valuation model. Here are the operating cash flow numbers:

• Operating cash flow generated $90.0 million in the first nine months of 2025.
• For comparison, cash flows from operating activities for the same nine-month period in 2024 were only $14.3 million.

That jump to $90.0 million in operating cash flow for the first nine months of 2025, up significantly from the prior year, shows you the operational leverage kicking in as LUPKYNIS sales scale. Finance needs to draft the 13-week cash view by Friday to track this trajectory.