B.C. pharmaceutical company’s stocks double in value after successful lupus drug trial

More than 40 per cent of patients using voclosporin saw improvements in kidney function

Saanich-based pharmaceutical company, Aurinia Pharmaceuticals, saw share values soar on Thursday after success with clinical trials for a new lupus drug.

On Dec. 4, the company announced that results from the AURORA Phase 3 drug trials for voclosporin had been successful in treating kidney inflammation in patients with lupus nephritis – an autoimmune disease.

Aurinia’s chief medical officer Neil Solomons explained that patients with lupus can experience “irreversible kidney damage” that can lead to kidney failure and death.

READ ALSO: Saanich biotech company secures $52M US for global drug study

The study included 357 patients from around the world with lupus and the results showed that participants using voclosporin experienced a “renal response rate” of 40.8 per cent while just 22.5 per cent of participants in the control group – those who didn’t receive the drug – saw improvements.

Data also indicated that the group taking voclosporin saw no more adverse events than the group receiving standard lupus treatment, noted Brad Rovin, chief of the nephrology division at the Ohio State University Wexner Medical Centre.

Following the announcement of the drug’s successful Phase 3 trial, the company’s share price exploded on Thursday, rising from Wednesday’s close of $11.13 per share to touch a 52-week high of $23.04 before closing at $19.75. Its shares have risen from a 52-week low of $4.70 to close Friday at $20.48 – a gain of 336 per cent, driving the company’s market cap to $1.93 billion.

READ ALSO: Mental health call temporarily shuts down Trans Canada Highway in View Royal

Lupus has historically been difficult to treat and new treatment options were needed, said Stevan Gibson, president and CEO of the Lupus Foundation of America. Voclosporin is the first effective therapeutic treatment option and the successful trial marks a step forward in treating the potentially deadly disease, he noted.

Chief executive Peter Greenleaf noted that staff were “thrilled with the outcomes” of the trial and that the drug’s success is significant for people living with lupus – close to 3 million people worldwide. The company is planning to put the drug on the market as early as 2021, but first it must pass though the U.S. Food and Drug Administration (FDA) process. The drug was given a fast track by the FDA in 2016 and the company plans to submit to the FDA in early 2020.

With files from Paul Bucci.


@devonscarlett
Like us on Facebook and follow us on Twitter.

devon.bidal@saanichnews.com

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

COVID-19 test tube. (Contributed)
test tube with the blood test is on the table next to the documents. Positive test for coronavirus covid-19. The concept of fighting a dangerous Chinese disease.
Interior Health launches online booking for COVID-19 tests

Testing is available to anyone with cold, influenza or COVID-19-like symptoms

A health-care worker prepares to swab a man at a walk-in COVID-19 test clinic in Montreal North, Sunday, May 10, 2020, as the COVID-19 pandemic continues in Canada and around the world. (THE CANADIAN PRESS/Graham Hughes)
Interior Health records 21 new COVID-19 cases over the weekend

Thirty-six cases remain active; two people are in the hospital, one of whom is in intensive care

STA members and non-members alike are encouraged to send in photos of their trail adventures. (Photo contributed by Scott Tibballs)
Sparwood Trails Alliance fundraises for Lunch Loop

Trail adventurers are invited to submit photos of their adventures for an STA calendar

BC ELECTION
Voters hit the polls early

17 per cent of Kootenay East voters have already voted, with four days to go until the election

File photo
Main Roads warns of snow over weekend

It’s expected to snow in most areas covered by the East Kootenay Service Area

FILE – People wait in line at a COVID-19 testing facility in Burnaby, B.C., on Thursday, August 13, 2020. THE CANADIAN PRESS/Darryl Dyck
167 new COVID-19 cases, 1 death recorded as B.C. enters 2nd wave

Three new healthcare outbreaks also announced

Volunteer registered nurse Stephanie Hamilton recieves a swab from a driver as she works at a Covid-19 testing site in the parking lot at Everett Memorial Stadium on Tuesday, Oct. 20, 2020 in Everett, Washington. (Andy Bronson / The Herald)
13 more COVID-19 cases in Interior Health region

There are 624 cases in the region since the start of the pandemic

This 2020 electron microscope image made available by the National Institute of Allergy and Infectious Diseases shows a Novel Coronavirus SARS-CoV-2 particle isolated from a patient, in a laboratory in Fort Detrick, Md. THE CANADIAN PRESS/AP-NIAID/NIH via AP
At least 49 cases of COVID-19 linked to wedding in Calgary: Alberta Health

McMillan says the city of Calgary has recently seen several outbreaks linked to social gatherings

UBC geoscientists discovered the wreckage of a decades-old crash during an expedition on a mountain near Harrison Lake. (Submitted photo)
Wreckage of decades-old plane crash discovered on mountain near Harrison Lake

A team of Sts’ailes Community School students helped discover the twisted metal embedded in a glacier

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

The official search to locate Jordan Naterer was suspended Saturday Oct. 17. Photo courtesy of VPD.
‘I am not leaving without my son,’ says mother of missing Manning Park hiker

Family and friends continue to search for Jordan Naterer, after official efforts suspended

Touchstones Museum has opened up Nelson’s Cold War bunker to the public. The unique exhibit includes artifacts from the 1950s and 60s. Photo: Tyler Harper
Take cover! Cold War bunker opens to public in Nelson

The shelter was built in 1964 in case of nuclear fallout

A bear similar to this black bear is believed responsible for killing a llama in Saanich on Oct. 19. (Black Press Media file photo)
Bear kills llama on Vancouver Island, prompting concerns over livestock

Officers could not track the bear they feel may not fear humans

Bernard Trest and his son Max, 10, are concerned about B.C.’s plan for students in the classroom. He was one of two fathers who filed a court application in August to prevent schools from reopening if stricter COVID-19 protections weren’t in place. That application was dismissed last week. (Contributed photo)
B.C. dad pledges to appeal quashed call for mandatory masks, distancing in schools

Bernard Trest and Gary Shuster challenged health, education ministries’ return-to-school plan

Most Read