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

Just Posted

Conductor Willi Zwozdesky and pianist Nico Rhodes led 66 local vocalists in song for the Nanaimo Sings video project Keeping Calm and Singing On. (YouTube screen shot)
Nanaimo Sings virtual performance features 66 vocalists

Fifth Nanaimo Sings festival was to have taken place this year

The bow-legged bear was seen roaming 2nd Avenue on Friday, May 7 and again in Brown Drive Park on May 13. (Submitted photo)
Bow-legged Ladysmith bear euthanized after vet examination

CO Stuart Bates said the bear had obvious health issues

Playwrights Scott Rivers (left) and Ray Appel (right) play contestants on a Gabriola Island-themed quiz show hosted by Lesley Hazeldine (centre) in ‘Gabriola Squares.’ (Video still courtesy Ray Appel)
Gabriola Players theatre group presents virtual one-act play festival

Three local productions will be debuted during online event starting this week

Queen Elizabeth II and Clive Holland, deputy commonwealth president of the Royal Life Saving Society, top left, virtually present Dr. Steve Beerman, top right, with the King Edward VII Cup for his drowning-prevention work. Tanner Gorille and Sarah Downs were honoured with Russell Medals for their life-saving resuscitation. (Buckingham Palace photo)
UPDATE: Queen presents Nanaimo doctor with award for global drowning prevention

Dr. Steve Beerman receives Royal Life Saving Society’s King Edward VII Cup

Nanaimo Clippers goaltender Jordan Naylor gets into position as Alberni Valley Bulldogs player Ethan Bono takes a shot on net during a game at the Alberni Valley Multiplex on April 28. (Elena Rardon/Black Press)
Nanaimo Clippers’ passion for the game carries them through pandemic season

Coach looks back on season following third-place finish in the BCHL’s Island pod

Queen Elizabeth II and Clive Holland, deputy commonwealth president of the Royal Life Saving Society, top left, virtually present Dr. Steve Beerman, top right, with the King Edward VII Cup for his drowning-prevention work. Tanner Gorille and Sarah Downs were honoured with Russell Medals for their life-saving resuscitation. (Buckingham Palace photo)
UPDATE: Queen presents Nanaimo doctor with award for global drowning prevention

Dr. Steve Beerman receives Royal Life Saving Society’s King Edward VII Cup

Sinikka Gay Elliott was reported missing on Salt Spring Island on Wednesday, May 12. (Courtesty Salt Spring RCMP)
Body of UBC professor found on Salt Spring Island, no foul play suspected

Sinikka Elliott taught sociology at the university

A driver was taken to hospital after crashing a pickup truck into a tree on Rutherford Road near Bradbury Road on Friday, May 14. (Chris Bush/News Bulletin)
Driver taken to hospital after crashing truck into tree on Rutherford hill in Nanaimo

RCMP investigating incident at Rutherford and Bradbury roads on Friday, May 14

Tamara Cameron, Uplands Park Elementary School music teacher and librarian, students Ben Leduc, second from left, Avery Kojima and Kinley Robson, as well as other music students from the school, will benefit from $8,000 from MusiCounts, for instruments and recording equipment. (Karl Yu/News Bulletin)
Money for new instruments music to ears of Uplands Park school staff and students

Grant from music education charity MusiCounts means students will have more ways to be creative

Sarah Boileau in her home studio on Monday, May 10. Boileau’s work will be on display at the McMillan Arts Centre in Parksville through May 30. (Submitted photo)
RCMP arrested a man in north Nanaimo who wound up empty-handed after allegedly failing at shoplifting, bank robbery and robbery at ATM machine. (File photo)
Man arrested in Nanaimo after failed attempts at bank robbery, ATM mugging, shoplifting

RCMP arrest suspect in office-supply store after ‘short-lived crime spree’

On Friday, May 14 at Meadow Gardens Golf Club in Pitt Meadows, Michael Caan joined a very elite club of golfers who have shot under 60 (Instagram)
Crowds at English Bay were blasted with a large beam of light from an RCMP Air-1 helicopter on Friday, May 14. THE CANADIAN PRESS/Marc Grandmaison
Police enlist RCMP helicopter to disperse thousands crowded on Vancouver beach

On Friday night, police were witness to ‘several thousand people staying well into the evening’

The first Black judge named to the BC Supreme Court, Selwyn Romilly, was handcuffed at 9:15 a.m. May 14 while walking along the seawall. (YouTube/Screen grab)
Police apologize after wrongly arresting B.C.’s first Black Supreme Court Justice

At 81 years old, the retired judge was handcuffed in public while out for a walk Friday morning

Most Read