10-Q Filing

AURINIA PHARMACEUTICALS INC. CIK: 1600620 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001628280-21-009306`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	auph-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 34 Cash Flow Statement 60 Stockholders Equity 21

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Due to related party, current	`DueToRelatedPartiesCurrent`	$6.00M	USD	Point-in-time
Due to related party, current	`DueToRelatedPartiesCurrent`	$2.00M	USD	Point-in-time
Common stock, issued (shares)	`CommonStockSharesIssued`	126.72M	shares	Point-in-time
Common stock, issued (shares)	`CommonStockSharesIssued`	128.12M	shares	Point-in-time
Common stock, outstanding (shares)	`CommonStockSharesOutstanding`	126.72M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$156.59M	USD	Point-in-time
Common stock, outstanding (shares)	`CommonStockSharesOutstanding`	128.12M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$272.35M	USD	Point-in-time
Short-term investments	`DebtSecuritiesCurrent`	$125.98M	USD	Point-in-time
Short-term investments	`DebtSecuritiesCurrent`	$191.67M	USD	Point-in-time
Accounts receivable, net	`AccountsAndOtherReceivablesNetCurrent`	-	USD	Point-in-time
Accounts receivable, net	`AccountsAndOtherReceivablesNetCurrent`	$1.19M	USD	Point-in-time
Inventories, net	`InventoryNet`	$13.93M	USD	Point-in-time
Inventories, net	`InventoryNet`	$15.94M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$6.86M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$7.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$372.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$419.43M	USD	Point-in-time
Long-term investments	`DebtSecuritiesNoncurrent`	$12.60M	USD	Point-in-time
Long-term investments	`DebtSecuritiesNoncurrent`	$24.38M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$247.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$11.86M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.79M	USD	Point-in-time
Acquired intellectual property and other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$9.33M	USD	Point-in-time
Acquired intellectual property and other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$9.85M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$5.76M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$5.49M	USD	Point-in-time
Total assets	`Assets`	$417.08M	USD	Point-in-time
Total assets	`Assets`	$463.66M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$24.80M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$17.69M	USD	Point-in-time
Other current liabilities (of which $2,000 and $6,000, due to related party in 2021 and 2020, respectively)	`OtherLiabilitiesCurrent`	$2.38M	USD	Point-in-time
Other current liabilities (of which $2,000 and $6,000, due to related party in 2021 and 2020, respectively)	`OtherLiabilitiesCurrent`	$6.41M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$788.00K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$1.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.15M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$17.89M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$16.30M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$7.81M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$7.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$46.85M	USD	Point-in-time
Total liabilities	`Liabilities`	$55.91M	USD	Point-in-time
Commitments and contingencies (Note 18)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 18)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common shares - no par value, unlimited shares authorized, 128,121 and 126,725 shares issued and outstanding as at March 31, 2021 and December 31, 2020, respectively	`CommonStockValueOutstanding`	$952.67M	USD	Point-in-time
Common shares - no par value, unlimited shares authorized, 128,121 and 126,725 shares issued and outstanding as at March 31, 2021 and December 31, 2020, respectively	`CommonStockValueOutstanding`	$944.33M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$39.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$43.89M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-799.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-805.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-575.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-625.53M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$407.75M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$279.09M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$298.60M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$370.23M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$463.66M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$417.08M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Unrealized gain on available-for-sale securities, tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	-	USD	1 Quarter
Unrealized gain on available-for-sale securities, tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	-	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$914.00K	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$30.00K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	-	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$48.00K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$39.28M	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$11.05M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$9.83M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$13.84M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$523.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$286.00K	USD	1 Quarter
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-1.92M	USD	1 Quarter
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-1.77M	USD	1 Quarter
Total cost and operating expenses	`CostsAndExpenses`	$27.09M	USD	1 Quarter
Total cost and operating expenses	`CostsAndExpenses`	$51.46M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-50.54M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-27.06M	USD	1 Quarter
Interest income	`InterestIncomeOther`	$172.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$890.00K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-26.17M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-50.37M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-238.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-25.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-50.38M	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of tax of $nil	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of tax of $nil	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$6.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-25.93M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-50.37M	USD	1 Quarter
Net loss per common share (expressed in $ per share)	`EarningsPerShareBasicAndDiluted`	$-0.23	USD	1 Quarter
Net loss per common share (expressed in $ per share)	`EarningsPerShareBasicAndDiluted`	$-0.40	USD	1 Quarter
Weighted-average common shares outstanding used in computation of basic and diluted loss per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	127.40M	shares	1 Quarter
Weighted-average common shares outstanding used in computation of basic and diluted loss per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	112.21M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss and comprehensive loss for the period	`NetIncomeLoss`	$-25.93M	USD	1 Quarter
Net loss and comprehensive loss for the period	`NetIncomeLoss`	$-50.38M	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$12.00K	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$165.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$523.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$286.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$7.82M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$3.50M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$2.11M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-870.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$1.19M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.01M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$2.66M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-308.00K	USD	1 Quarter
Non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-229.00K	USD	1 Quarter
Right of use assets	`IncreaseDecreaseInOperatingLeaseRightOfUseAssets`	$5.76M	USD	1 Quarter
Right of use assets	`IncreaseDecreaseInOperatingLeaseRightOfUseAssets`	$272.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.23M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.10M	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$474.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$5.85M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-22.61M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-53.54M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireMarketableSecurities`	$11.91M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireMarketableSecurities`	$115.17M	USD	1 Quarter
Proceeds from maturities of short-investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Proceeds from maturities of short-investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$60.94M	USD	1 Quarter
Purchases of equipment	`PaymentsToAcquireOtherProductiveAssets`	$79.00K	USD	1 Quarter
Purchases of equipment	`PaymentsToAcquireOtherProductiveAssets`	$136.00K	USD	1 Quarter
Upfront lease payment	`PaymentsToAcquireLeaseReceivables`	-	USD	1 Quarter
Upfront lease payment	`PaymentsToAcquireLeaseReceivables`	$11.84M	USD	1 Quarter
Internal use-software implementation costs	`PaymentsForSoftware`	$86.00K	USD	1 Quarter
Internal use-software implementation costs	`PaymentsForSoftware`	$1.04M	USD	1 Quarter
Capitalized patent costs	`PaymentsToAcquireIntangibleAssets`	$48.00K	USD	1 Quarter
Capitalized patent costs	`PaymentsToAcquireIntangibleAssets`	$6.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.13M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.25M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$5.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.92M	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$2.00K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$30.00K	USD	1 Quarter
Net proceeds from issuance of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net proceeds from issuance of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.92M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.03M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents during the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-115.76M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents during the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-31.81M	USD	1 Quarter
Cash and cash equivalents, beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$156.59M	USD	Point-in-time
Cash and cash equivalents, beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$274.21M	USD	Point-in-time
Cash and cash equivalents, beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$272.35M	USD	Point-in-time
Cash and cash equivalents, beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$306.02M	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$156.59M	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$274.21M	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$272.35M	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$306.02M	USD	Point-in-time
Cash received for interest	`ProceedsFromInterestReceived`	$425.00K	USD	1 Quarter
Cash received for interest	`ProceedsFromInterestReceived`	$891.00K	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	126.72M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	128.12M	shares	Point-in-time
Balance	`StockholdersEquity`	$407.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$279.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$298.60M	USD	Point-in-time
Balance	`StockholdersEquity`	$370.23M	USD	Point-in-time
Shares issued on exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.92M	USD	1 Quarter
Shares issued on exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$5.00M	USD	1 Quarter
Exercise of warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$31.00K	USD	1 Quarter
Exercise of warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$2.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$7.82M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.50M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$6.00K	USD	1 Quarter
Net loss and comprehensive loss for the period	`NetIncomeLoss`	$-25.93M	USD	1 Quarter
Net loss and comprehensive loss for the period	`NetIncomeLoss`	$-50.38M	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	126.72M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	128.12M	shares	Point-in-time
Balance	`StockholdersEquity`	$407.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$279.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$298.60M	USD	Point-in-time
Balance	`StockholdersEquity`	$370.23M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.