Aurina stock (NASDAQ:AUPH) is moving with gusto today. However, we can expect the volatility to continue. In the present column we highlight a few key points to keep in mind when considering an investment in Aurina stock.

We know that the Phase II proof of concept clinical trial for voclosporin in FSGS and MCD will see patients will be initiated in the first half of 2018. FSGS and MCD affect nearly 150,000 patients globally, accounting for almost 50% of patients with Nephrotic Syndrome (NS). The prevalence of FSGS and MCD is increasing through improved diagnosis, and it has been shown that the control of proteinuria is important for long-term survival of these patients. Interim data readouts are anticipated in the second half of 2018.

Aurina is also planning to begin a Phase IIa tolerability study of VOS versus the standard of care for the treatment of DES by the second quarter of 2018, with data available in the second half of 2018. Calcineurin inhibitors (CNIs) are a mainstay in the treatment for DES, and the goal of this program is to develop a best-in-class treatment option.

Aurina’s Phase III clinical trial (AURORA) for the treatment of LN is on track to complete enrollment in the second half of 2018, with 138 clinical trial sites active around the globe. Additionally, under voclosporin’s fast-track designation, and Aurina intends to utilize a rolling New Drug Application (NDA) process, with the first module being submitted in the second half of 2018.

What about the money? Well cash, cash equivalents and short term investments were $182.4 million as at September 30, 2017 compared to $189.8 million as of June 30, 2017, and $39.6 million as at December 31, 2016. Based on projected activity the company should have sufficient financial resources to fund the existing LN program, including the AURORA trial, conduct work on the new indications and fund operations into 2020.

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