As of June 30, 2025, Aurinia had cash, cash equivalents, restricted cash and investments of $315.1 million, compared to $358.5 million at December 31, 2024.
Cash flow generated from operations was $45.5 million for the 6 months ended June 30, 2025, compared to a negative $2.8 million in the same period of 2024.
Cost of revenue decreased to $7.1 million and $15.7 million for the 3 and 6 months ended June 30, 2025, compared to $8.9 million and $16.7 million in the same periods of 2024.
Excluding $11.5 million in cash payments related to the November 2024 restructuring, cash flow from operations was $57 million for the 6 months ended June 30, 2025.
For the 3 and 6 months ended June 30, 2025, total revenue was $70 million and $132.5 million, up 22% and 23%, respectively, from $57.2 million and $107.5 million in the same periods of 2024.
Gross margin improved to 90% and 88% for the 3 and 6 months ended June 30, 2025, compared to 84% and 85% in the same periods of 2024.
Net income was $21.5 million or $0.16 per share for the 3 months ended June 30, 2025, compared to $722,000 or $0.01 per share in the same period of 2024.
Net income was $44.9 million or $0.33 per share for the 6 months ended June 30, 2025, compared to a net loss of $10 million or $0.07 loss per share in the same period of 2024.
Net product sales of LUPKYNIS were $66.6 million and $126.5 million for the 3 and 6 months ended June 30, 2025, up 21% and 23%, respectively, from $55 million and $103.1 million in the same periods of 2024.
The company repurchased $11.2 million of its common shares for $90.8 million during the 6 months ended June 30, 2025.
Total operating expenses decreased to $49.9 million and $90.5 million for the 3 and 6 months ended June 30, 2025, compared to $58.7 million and $122.3 million in the same periods of 2024.
Adjusted EBITDA was positive $12.5 million, improving by nearly $13 million compared to the prior year.
Gross margin was 82% for the quarter, slightly below Q1 due to nonroutine expenses related to Gvoke capacity expansion.
Gvoke revenue increased 17% to $23.5 million, supported by a 5% growth in total prescriptions and favorable gross-to-net adjustments.
Keveyis revenue rose modestly to $11.5 million, with a slight increase in patient numbers and new patient starts.
R&D expenses increased by $2.2 million to $8.1 million, reflecting investments in pipeline products including XP-8121.
Recorlev revenue surged 136% year-over-year to $31.4 million, with a 122% increase in the average number of patients on therapy.
SG&A expenses rose 11% year-over-year to $44.4 million, mainly due to Recorlev commercial expansion and personnel costs.
Xeris Biopharma reported a 49% year-over-year increase in total revenue to $71.5 million in Q2 2025, driven by a 46% increase in net product revenue to $67.7 million.
Dafinchi