Aurinia Pharmaceuticals Inc (AUPH) Quote

Looks like it

Probably just EOQ window dressing.

So surely not. Just jerking our chain.

Seems that volume Friday was almost 3x avg. Wonder if some developments are afoot?

Look in the mirror and say “you talkin to me”. You’re the one who yak a lot with the same narrative the last 24 months.

you yak a lot.
pete becomes more worthless each day to the company, all he has done is pilfer shareholder funds for his own personal gain
the company is worse off than when he was put in as ceo
stock price sits right where it did when he showed up
shareholders would have made more money in a 1/4percent savings account, some had bernie madoff we got stuck with a limp peter

The vote was for BoD only. The CEO is not elected, or voted out of office, by shareholders and never will be.

Your rant would be more persuasive if it was based on facts.

The CEO will be elected by the Board of Directors,…

His position as CEO was not up for a vote. His position as director was and he did not get a majority of votes to remain. Up to the BOD to can his ass

obviously rigged voting, no one with a living brain cell would have voted for pete to remain and destroy the company. i guess the more free shares they give themselves the more votes they can cast to keep stuffing money into their pockets.
I guess pete learned how to harvest votes from the dems

ho hum…

Agreed

so we will still be paying him 1.7 million a year to continue to do nothing?
what a waste of flesh

Greenleaf is out as a director, he still is CEO.

Hopefully the remaining BoD members got the message that investors, including enough institutional investors to carry the vote, believe that PG has failed and the compensation is excessive.

That should have been a given, so thankfully it happened.

Greenleaf is out!

It was all manipulation. Back to normal now

CRUSHED THIS MORNING

So that sounds like Iljin won’t be voting for PG. But my memory is poor - was it Iljin or MKT that saved his ass last year?

ILJIN: ‘Given the significant number of free shares involved, and vesting period running through 2027 we doubt whether Mr. Greenleaf had a genuine motivation to successfully conclude the Company's Strategic Review in 2023-2024.’

if you have ever seen a leech suck blood then you have seen pete

the only thing the bod and management
pete in particular are doing do position anything is lining their own pocketbooks with shareholder funds.
sales and patient numbers are not what I or any intellectual person would call "strong momentum"
now free shares over the years to petre and friends could easily be classified as "strong momentum" sucking the company dry.
quality management would cut management payroll in half until the company is truly profitable.
petes almost 2million salary plus millions in free shares each year is more criminal than bidens salary plus under the table deals for doing nothing but destroy the country.
are we sure pete really is not hunter?
pete is just blah blah blah same old with nothing to show for it other than a 29 dollar loss per share price.

Where you been Zzatty Boy. Over here screaming WE GOT ZZIENTISTS too. I see you’re saying the same gibberish over here that you did for a decade all while getting pummeled by 2 reverse splits. Buy in here at their peak too. LMAO

Interesting though that this was written in response to the Selce letter. Up until now the last thing we heard from the company was that they were stopping all drug programs. I don’t recall them ever talking about this since then.

That is great news Pablo!

The best news, if true, ((Advancing autoimmune pipeline with Phase 1 clinical program for AUR200,))

Dear Fellow Shareholders:

Aurinia’s Board of Directors and management team have been taking a range of actions to position the Company for sustainable success and build value for shareholders, while staying true to our core focus of delivering therapies to treat targeted patient populations with high unmet medical needs. We believe we have established strong momentum in the business based on recent actions to support our strategy in three key areas:

Focus on commercial execution after restructuring operations
Maximizing free cash flows, moving towards profitability, currently debt free with excess of $320M in cash, cash equivalents, restricted cash and investments
Advancing autoimmune pipeline with Phase 1 clinical program for AUR200, a potential next generation therapy for B-cell mediated autoimmune diseases that targets both BAFF (B-cell Activating Factor) and APRIL (A Proliferation-Inducing Ligand)

I like Aurinias post today, shows a little fire, gumption, heavos. It’s been a long time coming, but we’re back on track

Have you seen anything from Iljin or Armistice concerning their intentions on this vote?

They tallying it up and everyone is probably against lol. CEO is lucky ILJIN and Armistice will be keeping him in place for another year. Keep an eye out for Armistice exit... He has to get his buddy out in profits. I think they are up to 12 million shares now.

https://www.auriniapharma.com/investors-and-media/news-events/press-releases/detail/327/aurinia-provides-update-on-proxy-statement

they are embarrassed at what their hero has done to them.
I have always stuck to the fact that pete is the worst ceo we could possibly have.

then again they are probably voting early and voting often to keep pete and his friends of the bod.
millions a year in salaries and benefits and only a loss in shareholder value to show for it.

Where are all the blue eye defenders??

At one month highs today. Only a bit more than average volume so far. If based anything specific we are last to know.

well pablo if you look you would notice that the BOD and management is far to heavy based on the money coming in , actually it is to heavy for a real company swimming in wealth. I doubt musk wastes this much money on management and bod that are not carrying their own weight.. pete just continues to bleed the company for his own bank account.
a vote for pete is a waste of a vote, unless you are getting free shares for pumping him here.

I don't think their feelings have changed in the last two months. The good thing about the company is it's financially healthy with $300M+ cash/equivalents and revenue is going up slowly but surely. It's looking like next year it will finally hit the quarter billion revenue mark. Market cap sitting at $739M is undervalued. Investor fatigue is definitely not helping the share price. I don't have the data but I think ILJIN, Armistice, and MKT are all underwater here with the rest of us.

Thanks Pablo. I was aware of that release but that is almost 2 months old and was wondering if there was anything more recent

ILJIN SNT Delivers a Letter to Aurinia Pharmaceuticals
March 20, 2024 at 05:24 pm EDT
Share
On March 20, 2024, ILJIN SNT Co., Ltd delivered a letter to Aurinia Pharmaceuticals Inc.?s management team and Board of Directors to express its concerns regarding the composition of the Company?s management team and the Company?s continued poor performance. In the letter, ILJIN SNT urged the Board of Directors to revamp the Company?s management team and to rationalize the Company?s spending. ILJIN SNT stated that it is now time for a change.

ILJIN SNT added that the Company management has consistently failed to demonstrate its ability to turn around the Company?s performance. ILJIN SNT stated that the Company is in need of a management team that can increase Lupkynis? sales significantly over the coming years and at the same time, formulate and implement a new growth plan and strategy.

ILJIN SNT added that the Company has no choice but to undertake a radical restructuring so that spending going forward can be rationalized. In addition, ILJIN SNT stated that given the Company?s extended lack of performance, the Company?s compensation program should be reformed such that a substantial portion of the compensation for management and board members is based on the Company?s performance, in order to ensure that management and board members? interests are sufficiently aligned with those of shareholders.

ILJIN SNT expressed its view that the changes to the Company?s management and board are long overdue, so that the Company?s value in the market may be restored and begin to grow. ILJIN SNT stated that in this regard, it called on the Company management and the board to take immediate action to implement ILJIN SNT?s strategy set forth in the letter.

I know we have heard from Selce but has there been any commentary from Iljin or MKT? Proxies are out. Got mine 2 days ago.

Let's see if his buddy at Armistice got enough shares to keep the CEO in place. I think they had a little over 9 million. Will be close if ILJIN and MKT are against.

proxy coming up, my idea only, don't anyone do as I do,
but vote for only those that have bought shares on their own, out right, not giving to them,
no one earned them, as we can see from the share price.
we need a board shake up like we have never seen before.
Good luck and good riddance..

Another question for management to answer

I scratch my head over the part of the commentary related to safety profiles. Three years into Aurora, there is supposedly no change in the safety profiles while the efficacy profiles have proven to be solid. So shouldn't the safety profiles be amended so the base treatment can be expanded?

after multiple millions of dollars into his own bank account and no ROI for shareholders even a blind person can see pete has no management skills and should be kicked to the curb. a vote for pete is "NOT" a vote for shareholder value.
and why are there so many bod's sucking off the company, real companies don't have bod's this overweighted.

This has turned into another Ariad…..

What Selce said !!!!

ttubular: Re Annual Meeting:

2024 ANNUAL GENERAL MEETING
Jun 14, 2024 • 12:00 pm EDT

https://www.auriniapharma.com/investors-and-media/news-events/ir-calendar/detail/20240614-2024-annual-general-meeting

https://www.auriniapharma.com/investors-and-media/news-events/2024-agm

Here is the text:

May 7, 2024, 9:00 AM EDT
GENEVA--(BUSINESS WIRE)--Lucien Selce, who owns approximately 2.2% of the outstanding shares of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (“Aurinia” or the “Company”), today issued the following letter to Aurinia shareholders:
May 7, 2024
Fellow Shareholders,
As a shareholder of Aurinia since 2020, I have grown increasingly worried about the Company’s trajectory and am disappointed in the Board of Directors’ (the “Board”) actions. This is why I now feel dutybound to publicly share my concerns and ideas for improving the Company.
In recent years, Aurinia has faced challenges in effectively penetrating the market with its flagship drug, Lupkynis. With CEO and director Peter Greenleaf at the helm, the Board has struggled to implement successful strategies to enhance market penetration and shareholder value. I believe that the composition of the Board and the excessive number of directors sitting on it are holding Aurinia back from achieving its full potential. In my view, the Board’s size should be reduced to ensure efficiency and cost-effectiveness. All directors with merger and acquisition-related or research experience should be removed. Shareholders have clearly lost faith in the ability of this Board to deliver results.
The Company’s recent Q1 2024 earnings release and accompanying call did little to appease our concerns. Although we noted the small “beat” in revenues and management’s forecast that Aurinia will be cash flow positive in Q2 2024 instead of H2 2024, we also note that most of the revenue growth stems from pre-existing clients re-enrolling for treatment instead of new clients’ enrollment.
Key failures of the current Board include:
1. The Board severely mishandled the communication of its dead-end strategic review, which resulted in investors fleeing the stock. The Board’s communication in this regard seemed designed to destroy Aurinia’s share price. The message was essentially that the Company has no desirability for any industry actor as a potential buyer. The Company’s February 15, 2024 press release alluded, unnecessarily, to a failed 2018 sale process. There is no rational explanation for this inept communication other than possibly allowing management to grant itself Restricted Stock Units (“RSUs”) on the cheap.
2. The Board currently has an excessive number of directors who lack relevant skills and much-needed objectivity, compromising its efficiency and effectiveness.
Dr. Robert Foster was appointed to the Board at the urging of MKT Capital to ensure a comprehensive and fair strategic review. Dr. Foster was not meant to stay on after the conclusion of the strategic review. It appears to me that Mr. Greenleaf’s motivation for keeping him on the Board is exclusively linked to the cooperation agreement between Aurinia and MKT Capital. Under this agreement, MKT Capital is not allowed to disparage or otherwise publicly dissent with the Company’s management. By remaining on the Board, Dr. Foster has betrayed MKT Capital – and is being financially rewarded by Aurinia for doing so.???
The two latest additions to the Board, Jeffrey Bailey and Dr. Karen Smith, who were originally praised by Mr. Greenleaf for their M&A experience and achievements, no longer possess relevant skillsets now that the strategic review has ended.???
Chair Daniel Billen’s close ties with Mr. Greenleaf raise concerns about his impartiality and increase the risk of repetition of past failures.
3. The Board has failed to effectively oversee Mr. Greenleaf and a value-enhancing strategy for Aurinia. Mr. Greenleaf's five-year tenure as CEO has been marked by repeated drug failures. After failing to deliver substantial market penetration for Lupkynis, he purchased Aur200 and Aur300, touting them as transformational for Aurinia. As a result, the Board granted Mr. Greenleaf options and RSUs for building a pipeline, only for him to kill this pipeline after Aur200 and Aur300 received Investigational New Drug applications from the U.S. Food and Drug Administration. With a single stroke, the Board transformed Aurinia into a one-trick pony. The Board then shifted the Company’s focus to potential future pipeline acquisitions while simultaneously announcing a $150 million share buyback.
4. The Board has rewarded Mr. Greenleaf with RSUs despite lackluster performance. I believe it is imperative that Mr. Greenleaf be removed from the Board to ensure boardroom independence, while remaining as CEO. Clear objectives for market penetration must be set, with no more options or RSUs granted unless targets are achieved.
Clearly, Aurinia’s Board is mired in contradictions and conflict of interest. In my view, the Board should immediately take the following actions to improve its independence and enable it to oversee management more effectively for the benefit of all Aurinia shareholders:
Restructure the Board and reduce its size from nine directors to five directors. The ideal Board should comprise an independent Chair, one large shareholder representative (in this respect, it is logical that long-standing, top investor ILJIN SNT Co., Ltd. (“ILJIN”) nominate someone), one small shareholder representative and another independent director.???
Link management’s compensation to fulfilling quantitative revenue goals set by an independent Board. Clear objectives for market penetration must be set, with no more options or RSUs granted unless targets are achieved. The current management “entrenchment” package recently issued in the amended annual report should be rejected.???
Develop accretive strategic partnerships. A strategy for accelerating Lupkynis’ commercial development should be developed and implemented. This could potentially take the form of a royalty or co-promotion deal with a middle or major pharmaceutical company.
Aurinia must undergo significant changes to realize its potential. The upcoming Annual General Meeting of Shareholders (the “Annual Meeting”) will serve as an opportunity for shareholders to vote for a reduced Board that is committed to effective market penetration strategies and shareholder value enhancement.
We urge the Board to embrace the solutions we have proposed to improve Aurinia’s performance, governance and go-forward strategy. Further, ILJIN – as a preeminent shareholder owning more than 5% of the Company’s common stock – can also request the inclusion of resolutions to address these improvements at the upcoming Annual Meeting.
Sincerely,
Lucien Selce
***
View source version on businesswire.com: https://www.businesswire.com/news/home/20240507993484/en/
Contacts
Lucien Selce?Lucienselce@gmail.com

Tuesday, May 07, 2024
Aurinia Pharmaceuticals Shareholder Urges Board Of Directors To Take Action To Enhance Shareholder Value; Outlines Concerns Regarding The Company's Current Strategy And Board Composition And Offers Superior Paths To Improving Performance And Market Penetration
Benzinga Newsdesk - 25 minutes ago

When did they announce the meeting?

I'm guessing/betting AUPH rises before Annual Meeting June 14.

My wager is based on P Greedleaf's request for more shares.''

So I think short term they goose the stock.
Just a hunch.

BTW, an off topic thought: Revance (RVNC) has some similarities to Auphy in that:
They have a great product; maybe the best.
They appear to have poorly performing management also as they are having difficulty selling their excellent product.
RVNC used to sell for $30+ and is now around $4

cheers

Not enough volume, shorts can hammer this down anytime they want.