AcquisitionsMay 7, 2026, 08:32 AM
Aurinia to Acquire Kezar Life Sciences; Q1 Net Income $34.4M
AI Summary
Aurinia Pharmaceuticals announced a definitive merger agreement to acquire Kezar Life Sciences for $6.955 per share in cash plus a contingent value right, with the transaction expected to close in Q2 2026. The company also reported strong first-quarter 2026 financial results, with net product sales of LUPKYNIS increasing 23% to $73.6 million and total revenue growing 24.4% to $77.7 million. Net income significantly improved to $34.4 million, and cash flows from operating activities saw a substantial increase.
Key Highlights
- Aurinia to acquire Kezar Life Sciences for $6.955 per share in cash plus CVR.
- Net product sales of LUPKYNIS increased 23% to $73.6 million for Q1 2026.
- Total revenue rose 24.4% to $77.7 million for the three months ended March 31, 2026.
- Net income increased 47.2% to $34.4 million for Q1 2026.
- Cash flows from operating activities surged to $32.6 million, up 2408% YoY.
- Cash, cash equivalents, restricted cash and investments totaled $378.8 million as of March 31, 2026.
- Repurchased 2.5 million common shares for $36.8 million under the Share Repurchase Plan in Q1 2026.