Exhibit 99.1
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Aurinia Pharmaceuticals Reports Financial Results for the Three Months Ended March 31, 2026 and Provides Update on Recent Business Progress
ROCKVILLE, Maryland and EDMONTON, Alberta – May 7, 2026 – Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) today announced financial results for the three months ended March 31, 2026 and provided an update on recent business progress.
Financial Results
•Total Revenue: For the three months ended March 31, 2026, total revenue was $77.7 million, up 24% from $62.5 million in the same period of 2025.
–Net Product Sales: For the three months ended March 31, 2026, net product sales of LUPKYNIS, the first FDA-approved oral therapy for the treatment of adult patients with active lupus nephritis, were $73.6 million, up 23% from $60.0 million in the same period of 2025.
–License, Collaboration and Royalty Revenue: For the three months ended March 31, 2026, license, collaboration and royalty revenue from Aurinia’s collaboration partner, Otsuka, was $4.1 million, up 64% from $2.5 million in the same period of 2025.
•Net Income: For the three months ended March 31, 2026, net income was $34.4 million, up 48% from $23.3 million in the same period of 2025.
•Diluted Earnings per Share: For the three months ended March 31, 2026, diluted earnings per share was $0.25, up 56% from $0.16 in the same period of 2025.
•Cash Flows from Operating Activities: For the three months ended March 31, 2026, cash flows from operating activities were $32.6 million, up 2408% from $1.3 million in the same period of 2025.
Cash Position
As of March 31, 2026, Aurinia had cash, cash equivalents, restricted cash and investments of $378.8 million, compared to $398.0 million at December 31, 2025. For the three months ended March 31, 2026, cash outflows from financing activities were $53.7 million, which included the repurchase of 2.5 million of the Company’s common shares for $36.2 million and tax withholding payments related to net settlements of equity awards of $14.6 million.
2026 Total Revenue and Net Product Sales Guidance
Aurinia reiterates its guidance for 2026 total revenue of $315 million to $325 million, up 11% to 15% compared to 2025, and 2026 net product sales of $305 million to $315 million, up 12% to 16% compared to 2025.
“Aurinia remains steadfast in its mission to become a leading company that benefits patients suffering from autoimmune diseases,” stated Kevin Tang, Chief Executive Officer. “LUPKYNIS is emerging as a standard-of-care treatment for lupus nephritis, and aritinercept, now in clinical development for three potential indications, has therapeutic potential across a wide range of autoimmune disorders.”
About Aurinia
Aurinia is a biopharmaceutical company focused on delivering therapies to people living with autoimmune diseases with high unmet medical needs. In January 2021, the Company introduced LUPKYNIS® (voclosporin), the first FDA-approved oral therapy for the treatment of adult patients with active lupus nephritis. Aurinia is also developing aritinercept, a dual inhibitor of B cell-activating factor (BAFF) and a proliferation-inducing ligand (APRIL) for the potential treatment of autoimmune diseases.
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Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities law and forward-looking statements within the meaning of applicable U.S. securities law. We caution investors that forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and involve substantial risks and uncertainties that could cause the actual outcomes to differ materially from what we currently expect. These risks and uncertainties include, but are not limited to, those associated with: LUPKYNIS net product sales, the timing of clinical study results and other risks and uncertainties identified in our filings with the U.S. Securities and Exchange Commission. Forward-looking statements in this press release apply only as of the date made, and we undertake no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances. Additional information related to Aurinia, including a detailed list of the risks and uncertainties affecting Aurinia and its business, can be found in Aurinia’s most recent Annual Report on Form 10-K and its other public available filings available by accessing the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedarplus.ca or the U.S. Securities and Exchange Commission’s Electronic Document Gathering and Retrieval System (EDGAR) website at www.sec.gov/edgar, and on Aurinia’s website at www.auriniapharma.com.
General Investor Inquiries
ir@auriniapharma.com
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AURINIA PHARMACEUTICALS INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)

March 31, 2026December 31, 2025
(Unaudited)
ASSETS
Current assets:
Cash, cash equivalents and restricted cash$41,008 $80,213 
Short-term investments337,775 317,784 
Accounts receivable, net49,175 41,454 
Inventory46,410 45,690 
Prepaid expenses and deposits
4,119 5,746 
Other current assets1,757 1,080 
Total current assets480,244 491,967 
Deferred tax assets, net
166,917 176,194 
Finance right-of-use lease assets69,508 73,865 
Intangible assets, net3,590 3,761 
Operating right-of-use lease assets1,659 3,596 
Property and equipment, net1,986 2,111 
Other noncurrent assets93 93 
Total assets$723,997 $751,587 
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable$2,661 $3,313 
Accrued expenses58,196 66,621 
Finance lease liabilities, current portion16,519 16,523 
Deferred revenue5,036 3,720 
Operating lease liabilities, current portion1,622 1,067 
Other current liabilities2,522 2,480 
Total current liabilities86,556 93,724 
Finance lease liabilities, less current portion48,181 52,322 
Deferred revenue, less current portion12,413 12,648 
Deferred compensation and other noncurrent liabilities6,903 6,662 
Operating lease liabilities, less current portion2,318 4,900 
Total liabilities156,371 170,256 
Shareholders' equity
Common shares — no par value, unlimited shares authorized, 130,771 and 132,323 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively1,086,650 1,120,035 
Additional paid-in capital96,869 111,263 
Accumulated other comprehensive loss(880)(599)
Accumulated deficit(615,013)(649,368)
Total shareholders' equity567,626 581,331 
Total liabilities and shareholders' equity$723,997 $751,587 
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AURINIA PHARMACEUTICALS INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except per share data)
Three Months Ended
March 31,
20262025
Revenue
Net product sales
$73,563 $59,971 
License, collaboration and royalty revenue
4,142 2,494 
Total revenue
77,705 62,465 
Operating expenses
Cost of revenue6,505 8,574 
Selling, general and administrative22,029 20,339 
Research and development7,470 5,743 
Restructuring— 1,533 
Other expense, net279 4,429 
Total operating expenses36,283 40,618 
Income from operations41,422 21,847 
Interest income3,515 3,569 
Interest expense(1,012)(1,067)
Net income before income taxes43,925 24,349 
Income tax expense9,570 1,005 
Net income$34,355 $23,344 
Earnings per share
Basic$0.26 $0.17 
Diluted$0.25 $0.16 
Shares used in computing earnings per share
Basic132,375 138,917 
Diluted137,639 143,199 
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AURINIA PHARMACEUTICALS INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(in thousands)
Three Months Ended
March 31,
20262025
Cash flows from operating activities:
Net income
$34,355 $23,344 
Adjustments to reconcile net income to cash flows from operating activities:
Deferred income tax
9,277 — 
Share-based compensation(866)(3,409)
Amortization and depreciation4,816 4,856 
Foreign exchange (gain) loss on revaluation of Monoplant finance lease liability(416)1,812 
Net amortization of premiums and discounts on investments(2,319)(2,656)
Other, net581 2,325 
Net changes in operating assets and liabilities:
Accounts receivable, net(7,721)(3,806)
Inventory
(720)(6,967)
Prepaid expenses and other current assets950 6,033 
Accounts payable(652)(974)
Accrued expenses and other liabilities(5,592)(23,405)
Deferred revenue1,081 4,342 
Operating lease liabilities(214)(195)
Cash flows from operating activities 32,560 1,300 
Cash flows from investing activities:
Proceeds from the sale and maturities of investments109,000 123,035 
Purchases of investments(127,041)(91,986)
Purchases of property, equipment and intangible assets(39)(17)
Cash flows from investing activities (18,080)31,032 
Cash flows from financing activities:
Purchase of common shares under Share Repurchase Plan(36,165)(46,921)
Payments of principal portion of Monoplant finance lease liability
(3,653)(2,771)
Proceeds from issuance of common shares for equity awards
713 9,288 
Tax withholding payments related to net settlements of equity awards(14,580)(8,933)
Cash flows from financing activities (53,685)(49,337)
Net decrease in cash, cash equivalents and restricted cash(39,205)(17,005)
Cash, cash equivalents and restricted cash, beginning of the period80,213 83,433 
Cash, cash equivalents and restricted cash, end of the period$41,008 $66,428 
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