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Why Aurinia Pharmaceuticals Inc (AUPH) Shares Are Popping Higher

Aurinia Pharmaceuticals Inc (NASDAQ:AUPHshares have popped more than 6% in the pre-market after the company released additional 48-week data from the AURA-LV study at the National Kidney Foundation 2017 Spring Clinical Meetings. The data showed continued improvements in renal and extra-renal outcomes, with renal function remaining stable across both voclosporin groups. In addition, 100% of patients in complete remission at week 24 stayed in complete remission at week 48 while on low dose voclosporin.

Chief Medical Officer Neil Solomons, MD said, ‘We are pleased by the recognition of the medical and scientific communities of the AURA study results. Beyond the remission rates we’ve shown with voclosporin, the significant improvement in SLEDAI scores points towards a durable, immunological effect on a broad range of clinically meaningful lupus outcomes. This data provides us with tremendous confidence that we can execute a successful Phase III program and make a meaningful impact on patients’ lives’.

Here is a link to more complete data for those of you interested.

What Does The Smart Money Sentiment Say?

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

Given that it’s a small company, none of the 742 elite funds in our database owned Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) at the end of Q4. That metric might change going forward, however.

The Bottom Line

 Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) shares are higher after the biotech released additional 48-week data from the AURA-LV study. For more reading, check out ‘Best Hospitals in the World‘.

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