Why Are Aurinia Pharmaceuticals Shares Trading Higher Today
Portfolio Pulse from Vandana Singh
Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) is exploring strategic alternatives, including a potential sale, merger, or other strategic transaction. The company has retained JP Morgan as its financial advisor and Korn Ferry to assist in the search for two new directors following the resignations of George Milne and Joseph Hagan. MKT Capital Ltd, a shareholder with a 4.2% stake, has suggested a sale of the entire business could yield up to $28 per share.
June 30, 2023 | 12:42 pm
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Aurinia Pharmaceuticals is exploring strategic alternatives, including a potential sale or merger. This news, along with the resignation of two directors, has led to a 14.30% increase in the company's premarket share price.
The exploration of strategic alternatives, including a potential sale or merger, is a significant event for any company. This news, coupled with the resignation of two directors, has likely led to increased investor interest and a subsequent rise in Aurinia's share price. The company's future direction and potential for a sale or merger could continue to impact the stock's performance in the short term.
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