Aurinia Pharmaceuticals (NASDAQ:AUPH) saw its shares surge 5.03% in Friday's intraday trading, following the company's release of its full-year 2024 financial results that exceeded analysts' earnings expectations.
The biotechnology firm reported revenue of $235.1 million for 2024, up 34% year-over-year and in line with estimates. However, Aurinia delivered a notable earnings beat, with earnings per share (EPS) of $0.04 surpassing analyst projections by 54%.
The strong earnings performance marked a significant turnaround for Aurinia, as the company reported a net income of $5.75 million in 2024, compared to a net loss of $78 million in the previous year. The company's profit margin also improved to 2.4%, up from a net loss position in 2023.
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