Aurinia Prices Public Offering Of 22.30 Mln Common Shares At $6.75/Shr

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( - Aurinia Pharmaceuticals Inc. ( AUPH ) priced the public offering of 22.30 million common shares at $6.75 per share. The company expects gross offering proceeds from this offering to be $150.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

This offering is expected to close on or about March 20, 2017. The company has granted the underwriters an option to purchase 3.35 million additional shares.

Aurinia intends to use this offering net proceeds for research and development activities, including Phase 3 clinical trial activities for lupus nephritis, and working capital purposes.

The totality of data from both the AURORA and AURA trials will serve as the basis for a NDA submission following completion of the Phase III trial. Lupus nephritis is one of the most severe complications of systemic lupus erythematosus.

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Referenced Symbols: AUPH

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