Thursday, July 06, 2023 9:23:46 AM
CAYMAN ISLANDS--(BUSINESS WIRE)--MKT Capital Ltd. (together with its affiliates, “MKT Capital” or “we”), the beneficial owner of approximately 4.2% of the outstanding common shares of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (“Aurinia” or the “Company”), today commented on the Company’s decision to initiate a review of strategic alternatives, including a potential value-maximizing sale, following MKT Capital’s successful withhold campaign at the Company’s 2023 Annual General Meeting of Shareholders.
Antoine Khalife, founder of MKT Capital, commented:
“We are pleased Aurinia has embraced our feedback and initiated a review of strategic alternatives. As previously noted, we believe a critical mass of shareholders share our view that Aurinia should pursue a value-maximizing sale, especially given the Company’s strong intrinsic value and seemingly robust interest from potential acquirers. We are supportive of a reconstituted Board running a comprehensive process, which considers the long-term potential of the LUPKYNIS drug, to maximize value for all shareholders.
Now that the Board has finally accepted the resignations of two influential directors following our successful withhold campaign, Aurinia should invite investor input on who will fill the vacancies. MKT Capital has identified a highly qualified director candidate to fill one of the vacancies and we look forward to privately engaging with the Board regarding the candidacy as part of the director search process. From our perspective, it is imperative there are shareholder-designated directors in the boardroom to help oversee a credible, comprehensive strategic review to maximize shareholder value.
After seeing the Board respect the will of shareholders, we are confident that meaningful value creation is on the horizon. As a long-term, significant investor in Aurinia, we plan to continue to monitor the situation closely. That said, given these recent positive developments, we intend to give the reconstituted Board an opportunity to deliver value for shareholders and will lend our support however possible.”
Recent AUPH News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/14/2024 09:25:28 PM
- Aurinia Announces 2024 Annual General Meeting Results • Business Wire • 06/14/2024 04:16:00 PM
- Aurinia Presents Safety and Efficacy Profile of LUPKYNIS® for People with Lupus Nephritis at European Alliance of Associations for Rheumatology (EULAR) Congress 2024 • Business Wire • 06/05/2024 10:00:00 AM
- Aurinia Addresses Dubious Proposals Put Forth by Lucien Selce • Business Wire • 06/04/2024 09:30:00 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 06/04/2024 09:25:39 PM
- Aurinia Provides Update on Proxy Statement • Business Wire • 06/03/2024 10:30:00 PM
- Aurinia Will Attend 2024 Jefferies Global Healthcare Conference • Business Wire • 05/30/2024 10:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:16:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:14:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:11:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:09:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:07:15 PM
- Analysis Showing LUPKYNIS® is a Cost-Effective Treatment for Lupus Nephritis Presented at National Kidney Foundation’s Spring Clinical Meeting 2024 • Business Wire • 05/14/2024 10:00:00 AM
- Aurinia Presents Data Reinforcing LUPKYNIS® Safety and Efficacy for People with Lupus Nephritis at Congress of Clinical Rheumatology East 2024 • Business Wire • 05/09/2024 10:00:00 AM
- Aurinia Will Attend 2024 RBC Capital Markets Global Healthcare Conference • Business Wire • 05/07/2024 10:00:00 AM
- Aurinia Pharmaceuticals Reports First Quarter 2024 Financial and Operational Results • Business Wire • 05/02/2024 10:00:00 AM
- Aurinia Underscores Enduring Commitment to People Living with Lupus Nephritis Through Innovative Advocacy and Education Initiatives for Lupus Awareness Month • Business Wire • 05/01/2024 10:00:00 AM
- The U.S. Food & Drug Administration (FDA) Approves Updated LUPKYNIS® (voclosporin) Label to include Long-Term Data from the AURORA Clinical Program • Business Wire • 04/30/2024 10:00:00 AM
- New Aurinia Presentation Details at the 2024 Bloom Burton & Co. Healthcare Investor Conference • Business Wire • 04/16/2024 02:48:00 PM
- Aurinia Pharmaceuticals to Release First Quarter Financial and Operational Results on May 2, 2024 • Business Wire • 04/15/2024 10:00:00 AM
- Aurinia Will Attend 2024 Bloom Burton & Co. Healthcare Investor Conference • Business Wire • 04/09/2024 10:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 09:44:49 PM
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