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Aurinia Completes Final Patient Treatment in Dry Eye Study

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Aurinia Pharmaceuticals Inc. (AUPH - Free Report) announced that it has completed the last patient study visit in the phase II/III AUDREY study evaluating voclosporin ophthalmic solution (VOS) for the potential treatment of dry eye syndrome (DES). Dry eye syndrome is a chronic autoimmune disorder affecting the quality of life for millions in the United States.

The primary outcome measure for the study is the proportion of subjects with a 10mm improvement in Schirmer’s Tear Test (STT) at four weeks. Secondary outcome measures include STT at 12 weeks and other time points, Fluorescein Corneal Staining (FCS) at multiple time points, change in eye dryness, burning/stinging, itching, photophobia, eye pain and foreign body sensation at multiple time points, change in Symptom Assessment in Dry Eye (SANDE) score at multiple time points, and additional safety endpoints.

Shares of the company have lost 29.1% compared with the industry’s decline of 7.6%.

In January 2019, Aurinia reported that although VOS (voclosporin 0.2%) administered twice daily did not meet the primary endpoint of drop discomfort at oneminute, it was superior to Allergan’s Restasis (0.05% cyclosporine A) administered twice daily in all objective endpoints, including FCS and STT. The statistical superiority was seen as quickly as two weeks. Thus, the company believes that VOS represents a potential best-in-class calcineurin inhibitor in ophthalmic indications.

Top-line results from the AUDREY clinical study are expected to be reported during the fourth quarter of 2020.

Zacks Rank &Stocks to Consider

Aurinia currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the healthcare sector include Emergent Biosolutions Inc. (EBS - Free Report) and Bio Techne Corp (TECH - Free Report) . While Emergent Biosolutions sports a Zacks Rank #1 (Strong Buy), Bio Techne carries a Zacks Rank #2 (Buy) . You can see the complete list of today’s Zacks #1 Rank stocks here.

Emergent’s earnings estimates have increased from $4.23 to $6.58 for 2020 and from $5.55 to $7.62 for 2021 over the past 60 days. Shares of the company have increased 92.1% year to date.

Bio Techne’s earnings estimates have increased from $5.33 to $5.48 for 2020 and from $6.41 to $6.50 for 2021 over the past 60 days. Shares of the company have increased 11.0% year to date.

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