Aurinia is a commercial-stage biopharmaceutical company focused on autoimmune diseases, built around one marketed product: LUPKYNIS (voclosporin), the first FDA-approved oral therapy for adult patients with active lupus nephritis (LN), a severe kidney complication of systemic lupus erythematosus. LUPKYNIS works as a calcineurin inhibitor immunosuppressant, prescribed alongside MMF and corticosteroids, and is differentiated by its speed of proteinuria reduction and its steroid-sparing profile. Aurinia sells LUPKYNIS in the U.S. directly through its own sales force, targeting rheumatologists and nephrologists, while Otsuka Pharmaceutical markets the drug in Japan, the EU, the UK, and Switzerland under a collaboration agreement. Revenue is driven primarily by U.S. net product sales to specialty pharmacies and a specialty distributor, with a smaller contribution from Otsuka inventory sales and milestones. LUPKYNIS carries very high gross margins, and a 2024 restructuring reduced the operating cost base meaningfully. Aurinia's pipeline centers on aritinercept (AUR200), an early-stage biologic that dually inhibits BAFF and APRIL cytokines to deplete pathogenic B cells, with Phase 1 data showing strong reductions in immunoglobulins and a clean tolerability profile. Aurinia is advancing aritinercept into multi-ascending dose studies across undisclosed autoimmune indications in rheumatology and nephrology. On capital allocation, Aurinia holds a substantial cash position and has been returning cash to shareholders through aggressive share repurchases while funding aritinercept's clinical advancement.