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Only a day after a ~13% rise, Canadian biotech Aurinia Prescribed drugs (NASDAQ:AUPH) is again within the purple at the same time as H.C. Wainwright moved to handle questions surrounding the departures of the corporate’s Chief Medical Officer and Govt Vice President of Analysis.
The resignation of medical chief Neil Solomons and analysis EVP Robert Huizinga was not resulting from any disagreement with the corporate administration, the analyst Ed Arce remarked, citing AUPH’s Chief Govt Peter Greenleaf.
“After talking with CEO Peter Greenleaf, we’re assured that their leaving doesn’t contain any disagreements with the corporate or administration,” the analyst wrote, reiterating the Purchase ranking and $26 per share goal on the inventory.
Noting “their terribly lengthy improvement stewardship of voclosporin from discovery to approvals,” Arce guidelines out considerations over the timing of the resignation, which got here after the European approval for the lupus nephritis remedy.
Citing its “long-tenured professionals, in addition to plenty of current hires during the last couple of years,” the analyst additionally pointed to the corporate’s bench power.
On Thursday, Aurinia (AUPH) shares spiked as traders highlighted the purported takeover method made by pharma large Bristol Myers (BMY) precisely a 12 months in the past.
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