Small Cap Biotech Name Sees Unusual Call Buyers into Breakout
Aurinia Pharma (AUPH) odd buyers of 1150 May $11 calls for $1.56 offers. Higher the past few days M&A speculation making the rounds. Breaking out to 6 month highs here +6%. AUPH is a $1.5B small cap clinical stage pharmaceutical company focused on the global nephrology market. It is currently enrolling patients in its Phase 2b clinical trial to evaluate the efficacy of its drug, voclosporin, as a treatment for LN. LN is an inflammation of the kidneys, that if inadequately treated can lead to endstage renal disease, making LN a serious and potentially life-threatening condition. High short float of 12.3%. AUPH has alot of space to run above 10 as it rallies through an old VPOC and next resistance up at 13 being the 2022 yearly value area high and the 200 week MA.