Strong Revenue Growth
Total revenue for Q1 2025 was $62.5 million, up 24% from $50.3 million in Q1 2024. Net product sales of LUPKYNIS were $60 million, up 25% from $48.1 million in the same period of 2024.
Improved Cash Flow
Cash flow generated from operations was $1.3 million in Q1 2025, compared to a negative $18.6 million in Q1 2024. Excluding restructuring payments, cash flow was $12.4 million.
Positive Net Income
Net income for Q1 2025 was $23.3 million or $0.17 per share, compared to a net loss of $10.7 million or $0.07 per share in Q1 2024.
Efficient Operations
Total operating expenses decreased to $40.6 million in Q1 2025 from $63.6 million in Q1 2024, primarily due to strategic restructuring efforts.
Rheumatology Market Growth
The company is focusing on educating rheumatologists about LUPKYNIS, seeing improvements in rheumatology prescribing.
Pipeline Progress
The company remains on track to report initial results from the Phase 1 study of AUR200, a dual BAFF/APRIL inhibitor, later in the quarter.