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2021-11-22

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Why Aurinia Pharmaceuticals Stock Crashed in After-Hours Trading on Friday

A $250 mixed shelf offering isn't sitting well with the biotech's shareholders.

Why Aurinia Pharmaceuticals Stock Crashed in After-Hours Trading on Friday

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The drugmaker's stock tanked in response to a $250 million mixed shelf offering.</p>\n<p>The accompanying prospectus filed with the Securities and Exchange Commission noted that the proceeds of any stock sales under this offering would be used for clinical development and commercial production of the company's Food and Drug Administration approved lupus nephritis (LN) medication Lupkynis. It would advance its pipeline, business development opportunities, capital expenditures, and working capital.</p>\n<p>At the end of the third quarter, Aurinia had a cash runway of approximately six to perhaps eight quarters, depending on the commercial trajectory of Lupkynis, as well as the company's clinical development plans.</p>\n<h2>So what</h2>\n<p>Shareholders are hitting the exits on this biotech stock for one clear reason: This mixed shelf offering may spell the end of buyout talks. 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While Lupkynis' sales might be slow to ramp up with Aurinia at the helm, the drug is starting to turn heads among prescribers, according to a recent survey. As such, Aurinia's top line should eventually grow by leaps and bounds. Savvy investors, therefore, shouldn't hesitate to take advantage of this unwarranted pullback in this undervalued biotech stock.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Aurinia Pharmaceuticals Stock Crashed in After-Hours Trading on Friday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Aurinia Pharmaceuticals Stock Crashed in After-Hours Trading on Friday\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-21 11:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/11/20/why-aurinia-pharmaceuticals-stock-crashed-in-after/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What happened\nShares of Aurinia Pharmaceuticals (NASDAQ:AUPH) fell by 18.1% in after-hours trading Friday. The drugmaker's stock tanked in response to a $250 million mixed shelf offering.\nThe ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/11/20/why-aurinia-pharmaceuticals-stock-crashed-in-after/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AUPH":"Aurinia Pharmaceuticals Inc","BK4139":"生物科技"},"source_url":"https://www.fool.com/investing/2021/11/20/why-aurinia-pharmaceuticals-stock-crashed-in-after/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2184828149","content_text":"What happened\nShares of Aurinia Pharmaceuticals (NASDAQ:AUPH) fell by 18.1% in after-hours trading Friday. The drugmaker's stock tanked in response to a $250 million mixed shelf offering.\nThe accompanying prospectus filed with the Securities and Exchange Commission noted that the proceeds of any stock sales under this offering would be used for clinical development and commercial production of the company's Food and Drug Administration approved lupus nephritis (LN) medication Lupkynis. It would advance its pipeline, business development opportunities, capital expenditures, and working capital.\nAt the end of the third quarter, Aurinia had a cash runway of approximately six to perhaps eight quarters, depending on the commercial trajectory of Lupkynis, as well as the company's clinical development plans.\nSo what\nShareholders are hitting the exits on this biotech stock for one clear reason: This mixed shelf offering may spell the end of buyout talks. Last month, Aurinia's shares blasted higher on rumors that Bristol Myers Squibb (NYSE:BMY) was contemplating a bid for the company. Soon thereafter, additional rumors surfaced claiming that Aurinia had multiple suitors. To date, however, a formal tender offer has yet to materialize from any party.\nAnd while neither Bristol nor Aurinia have publicly denied these rumors, there are some obvious problems with this hypothetical tie-up. Specifically, Bristol has multiple holes to fill to keep its top line headed in the right direction, and only about $16 billion in cash to achieve this goal. Aurinia, for its part, probably won't accept an offer under $6 billion. What's more, the biotech might be holding out for an offer in excess of $8 billion.\nNow what\nIs Aurinia's stock a screaming buy after this after-hours drop? The answer is most definitely yes. While Lupkynis' sales might be slow to ramp up with Aurinia at the helm, the drug is starting to turn heads among prescribers, according to a recent survey. As such, Aurinia's top line should eventually grow by leaps and bounds. 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Why Aurinia Pharmaceuticals Stock Crashed in After-Hours Trading on Friday

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