Aurinia Pharmaceuticals Inc (AUPH)

[Zeppo]

We have to bear in mind that just about anything can and has happened in a Phase III scenario within the biotech industry. Historically, it has been tough for companies to get a foothold in the Lupus area, especially where the kidneys are involved. Go into your favorite search engine, and you can see the biotech industry carnage related to Lupus development. LaJolla is one of the most famous failures. A drug called Benlysta is approved and is claimed to be the first lupus treatment in over 50 years. A 26 year old cancer drug, Il-2, that isn't used much for cancer treatment anymore, is being touted as a potential lupus treatment in the form of an overall immune system builder. So Aurinia seems to have great promise in the area of nephritis. What are the possible negatives related to the upcoming Phase III enrollment?