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Traders Are Watching Aurinia Pharmaceuticals Inc (AUPH) After This Deal

Traders are watching Aurinia Pharmaceuticals Inc (NASDAQ:AUPHafter the company completed a licensing deal with Merck Animal Health. Specifically, Aurinia has granted Merk Animal Health the worldwide rights to commercialize and develop Aurinia’s patented nanomicellar voclosporin ophthalmic solution for the treatment of dry eye syndrome in dogs. Although Aurinia will receive an upfront payment and royalties, it is unclear exactly what the financial details are as they were not disclosed in the initial press release. The lack of details could explain why Aurinia shares are relatively unchanged Tuesday morning.

Aurinia CEO Richard Glickman said, ‘This partnership with Merck Animal Health underscores our long-standing belief that voclosporin has the potential to be effectively used across a range of therapeutic areas, in addition to its primary potential indication for the treatment of lupus nephritis. In addition to enhancing dry eye treatment options in the animal health field, VOS has a differentiated product profile with long patent life that has the potential to compete in the multi-billion dollar human prescription dry eye market. While this ophthalmology project will continue to be advanced by Merck Animal Health, the Aurinia clinical team will remain focused on our lupus nephritis program, which is on track to begin enrollment for the AURORA Phase III trial this quarter’.

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

Traders are watching Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) due to a deal announcement with Merk Animal Health. For more reading, check out ‘Most Addictive Drugs In the World‘.

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