Benzinga | Nov 3, 2020 04:58PM EST

Why Aurinia Pharmaceuticals Stock Is Trading Lower Today

Aurinia Pharmaceuticals (NASDAQ:AUPH) shares are trading lower on Tuesday after the company reported its AUDREY trial in dry eye syndrome did not achieve statistical significance on its primary endpoint.

Aurinia Pharmaceuticals is a biopharmaceutical company. It provides products for patients suffering from serious diseases with a high unmet medical need. The firm is developing voclosporin, an investigational drug, for the treatment of lupus nephritis (LN), focal segmental glomerulosclerosis (FSGS), and Dry Eye Syndrome (DES). Geographically, it derives maximum revenue from the United States followed by China.

Aurinia Pharmaceuticals shares were trading down 9.87% at $13.97 on Tuesday. The stock has a 52-week high of $21.93 and a 52-week low of $4.90.