Sold to close AUPH
Sold 3,000 shares of AUPH at $3.02. This closes the position originally entered on 6/1 at $2.88. Total return less commission was $404.10. Return per share after commission was 13¢.
Aurinia Pharmaceuticals (AUPH) is a small development stage biotech company that is both unprofitable and dangerously low on cash. To turn around its fortunes, the company will need a successful conclusion of the current Phase 2b Trial of its lupus nephritis drug voclosporin. Top line data from this trial is expected in Q3, which is why I expected the stock to show some more positive response going into the readout.
Given that the stock seems at best range-bound, I have to conclude that the expectations for it are very muted. A negative readout would almost certainly spell the end of this company, and since my track record with predicting binary events is not great, I am going to throw in the towel, here.