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

5 to 10 cm of snow still coming to Fraser Valley: Environment Canada

Hard to say when the freezing rain will turn to regular rainfall, Environment Canada says

Chilliwack man who sexually assaulted young boys released from prison

Statutory release for Don Putt who Parole Board calls an ‘untreated sex offender’

From the Chilliwack Progress Archives: Is that Bill on that car?

Bringing you highlights from 128 years of Chilliwack Progress news coverage.

Abbotsford bank ATM robbery thwarted by woman standing her ground

Police arrest alleged known robber running down South Fraser wearing balaclava

From the Chilliwack Progress Archives: Young hurt by flu bug

Past mirrors present as Chilliwack wrestles with a flu bug in January of 1979.

Kids across Canada more at risk of hospitalization from flu this season: doctor

Dr. Theresa Tam said influenza B does not usually peak until February or later

Closed mills, housing surge support a positive forecast for lumber industries

B.C. lumber producers have closed mills accounting for 18% of province’s capacity, RBC report says

Good Samaritan pays part of rent for B.C. woman facing eviction in can-collecting dispute

Zora Hlevnjak, 76, supplements her pension by collecting cans and receiving public donations

Should winter tires be mandatory in the Lower Mainland?

ICBC dial-a-claims go up as winter storm takes toll

Canada Post driver in hospital after ice smashes windshield at Massey Tunnel

Incident happened on Richmond side of the Massey Tunnel

Kelowna’s ‘Baby Mary’ finds biological parents after more than 30 years

Geneologist and DNA test helped her connect with her biological parents

Fire truck, police car hit in chain of crashes on Hwy. 99

‘People weren’t paying attention,’ says Surrey assistant fire chief

Kelowna hotel to award couples for baby-making with Nooner deal

The deal includes a free stay every Valentine’s Day for the next 18 years

‘Scariest boat ride of my life’: Passengers trapped by ice on rocky B.C. ferry sailing

The Nimpkish docked in Bella Coola on Jan.12 coated in a thick layer of ice

Most Read