BUZZ-Aurinia Pharmaceuticals jumps after Tang Capital reports 5.1% stake in co

Reuters09-13

** U.S.-listed shares of drugmaker Aurinia Pharmaceuticals

up 6.6% at $7.01

** Tang Capital Management reports 5.1% stake in AUPH as of Sept. 6

** Separately, AUPH said on Thursday it has restructured its board and has allowed CEO Peter Greenleaf to continue as a director

** AUPH says Greenleaf had conditionally resigned as a director because he received less-than-majority support at the 2024 AGM

** Company's board says it has considered all relevant factors and determined there are exceptional circumstances that warrant the rejection of Greenleaf's conditional resignation

** AUPH says its board has appointed Kevin Tang, president of Tang Capital Management as a director

** Shareholder Lucien Selce, co-founder of Vista Capital Management, has been urging other investors in AUPH to remove the CEO

** Stock was down nearly 27% YTD

(Reporting by Ananya Mariam Rajesh in Bengaluru)

((AnanyaMariam.Rajesh@thomsonreuters.com ; X: ))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment