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

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

A man sustained burns to his body near this spot around 3:30 a.m. Tuesday, April 13 in Courtenay. The fire was left of the pathway. The Station youth housing facility and city public works yard are to the right of the trail. Photo by Terry Farrell
Emergency personnel respond to man on fire in wooded area of Courtenay

A man was badly burned in the early morning hours Tuesday in… Continue reading

This 2013 Dodge Ram 1500 was stolen from Black Creek Motors at approximately 2 a.m. Sunday, April 11. Photos via blackcreekmotors.com
VIDEO: Thieves steal truck from Black Creek car lot by towing it away

Have you seen a 2013 Dodge Ram 1500 in your neighbourhood in… Continue reading

Teresa Hedley and a copy of her book, “What’s Not Allowed? A Family Journey with Autism.” Photo supplied
Comox Library recognizes Autism Awareness Month with presentation by local author

April is World Autism Awareness Month, an annual opportunity to increase understanding… Continue reading

Comox council will further look at a troublesome traffic area in the Point Holmes area of the town. Photo submitted
Comox council to look at speed calming measures at Point Holmes

“…We are waiting for a problem to happen if we don’t act.”

A 41-person air task force, including 12 members from 407 Long Range Patrol Squadron at 19 Wing Comox, seized more than $3 million CND worth of cocaine as part of Op Caribbe. Photo by Canadian Armed Forces Operations/Facebook
19 Wing Comox crew involved in three-tonne cocaine seizure worth more than $293 million

12 members from 407 Long Range Patrol Squadron involved in Op Caribbe

Restaurant patrons enjoy the weather on a patio in Vancouver, B.C., Monday, April 5, 2021. The province has restricted indoor dining at all restaurants in B.C. due to a spike in COVID-19 numbers. THE CANADIAN PRESS/Jonathan Hayward
B.C.’s COVID-19 indoor dining, drinking ban extending into May

Restaurant association says patio rules to be clarified

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
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

Two men were seen removing red dresses alongside the Island Highway in Oyster Bay. (Submitted photo)
Two men filmed removing red dresses from trees on highway near Ladysmith

Activists hung the dresses to raise awareness for Vancouver Island’s Murdered/Missing Women & Girls

Comox Lake is the drinking water source for the CVRD. Photo supplied
Comox Valley Water Treatment Project nears completion

The Comox Valley Water Treatment Project is more than 85 per cent… Continue reading

B.C. Premier John Horgan speaks at the B.C. legislature. (B.C. government)
Tougher COVID-19 restrictions in B.C., including travel, still ‘on the table’: Horgan

John Horgan says travel restrictions will be discussed Wednesday by the provincial cabinet

RCMP on scene yesterday at the altercation at the trailer park. (Submitted photo)
Violent altercation at Port Hardy trailer park sends one to hospital

Police say man confronted another over airsoft shooting, then was attacked with a weapon

Comox council approved a change in fees for using the Comox Municipal Marina, extending the collection of fees from March 1 to Oct. 31 each year. Black Press file photo
Fee changes, increased costs coming to Comox Municipal Marina

The town will be extending the collection of fees from March 1 to Oct. 31

John Albert Buchanan was found guilty of manslaughter in the 2017 death of Richard Sitar. Pictured here, Buchanan walking to the court in Nanaimo last year. (Karl Yu/News Bulletin)
Six years including time served for Nanaimo man in bludgeoning death

John Albert Buchanan sentenced in B.C. Supreme Court in Nanaimo for death of Richard Sitar

Protesters occupied a road leading to Fairy Creek Watershed near Port Renfrew. (Submitted photo)
B.C. First Nation says logging activist interference not welcome at Fairy Creek

Vancouver Island’s Pacheedaht concerned about increasing polarization over forestry activities

Most Read