Aurinia Pharmaceuticals (AUPH) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

COVER

COVER - shares	9 Months Ended
	Sep. 30, 2022	Nov. 02, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-36421
Entity Registrant Name	Aurinia Pharmaceuticals Inc.
Entity Incorporation, State or Country Code	Z4
Entity Address, Address Line One	#1203-4464 Markham Street
Entity Tax Identification Number	98-1231763
Entity Address, City or Town	Victoria
Entity Address, State or Province	BC
Entity Address, Postal Zip Code	V8Z 7X8
City Area Code	(250)
Local Phone Number	744-2487
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		142,109,703
Title of 12(b) Security	Common shares, no par value
Trading Symbol	AUPH
Security Exchange Name	NASDAQ
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001600620
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash, cash equivalents and restricted cash	$ 86,052	$ 231,900
Short-term investments	290,592	234,178
Accounts receivable, net	41,771	15,414
Inventories, net	25,320	19,326
Prepaid expenses	12,159	11,710
Other current assets	3,808	796
Total current assets	459,702	513,324
Non-current assets
Other non-current assets	13,049	11,838
Property and equipment, net	3,758	4,418
Acquired intellectual property and other intangible assets, net	6,839	8,404
Right-of-use assets, net	4,945	5,383
Total assets	488,293	543,367
Current liabilities
Accounts payable and accrued liabilities	40,123	34,947
Other current liabilities	724	4,640
Operating lease liabilities	918	1,059
Total current liabilities	41,765	40,646
Non-current liabilities
Deferred compensation and other non-current liabilities	15,833	15,950
Operating lease liabilities	7,270	7,680
Total liabilities	64,868	64,276
Commitments and contingencies (Note 17)
SHAREHOLDER’S EQUITY
Common shares - no par value, unlimited shares authorized, 142,110 and 141,600 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	1,184,020	1,177,051
Additional paid-in capital	79,188	59,014
Accumulated other comprehensive loss	(1,527)	(852)
Accumulated deficit	(838,256)	(756,122)
Total shareholders' equity	423,425	479,091
Total liabilities and shareholders’ equity	$ 488,293	$ 543,367

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value ($ per share)	$ 0	$ 0
Common stock, issued (shares)	142,110,000	141,600,000
Common stock, outstanding (shares)	142,110,000	141,600,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue
Total revenue, net	$ 55,779	$ 14,667	$ 105,595	$ 22,201
Operating expenses
Cost of sales	2,447	254	4,302	610
Selling, general and administrative	52,169	44,645	148,898	128,772
Research and development	10,973	20,066	35,118	39,990
Other (income) expense, net	(311)	55	647	859
Total cost of sales and operating expenses	65,278	65,020	188,965	170,231
Loss from operations	(9,499)	(50,353)	(83,370)	(148,030)
Interest income	1,464	106	2,209	420
Net loss before income taxes	(8,035)	(50,247)	(81,161)	(147,610)
Income tax expense	954	8	973	34
Net loss	(8,989)	(50,255)	(82,134)	(147,644)
Other comprehensive loss:
Unrealized gain (loss) on available-for-sale securities, net of tax of nil	326	(2)	(675)	11
Comprehensive loss	$ (8,663)	$ (50,257)	$ (82,809)	$ (147,633)
Basic loss per share ($ per share)	$ (0.06)	$ (0.39)	$ (0.58)	$ (1.15)
Diluted loss per share ($ per share)	$ (0.06)	$ (0.39)	$ (0.58)	$ (1.15)
Weighted-average common shares outstanding used in computation of basic loss per share (in shares)	141,856	128,443	141,831	128,084
Weighted-average common shares outstanding used in computation of diluted loss per share (in shares)	141,856	128,443	141,831	128,084
Product revenue, net
Revenue
Total revenue, net	$ 25,502	$ 14,638	$ 75,142	$ 22,113
License and collaboration revenue
Revenue
Total revenue, net	$ 30,277	$ 29	$ 30,453	$ 88

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Unrealized gain on available-for-sale securities, tax	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Shares	Additional paid in capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit
Balance (in shares) at Dec. 31, 2020		126,725,000
Balance at Dec. 31, 2020	$ 407,750	$ 944,328	$ 39,383	$ (805)	$ (575,156)
Increase (Decrease) in Stockholders' Equity
Shares issued on exercise of stock options and vesting of performance awards and restricted stock units (in shares)		2,324,000
Shares issued on exercise of stock options and vesting of performance awards and restricted stock units	15,352	$ 22,097	(6,745)
Exercise of warrants (in shares)		521,000
Exercise of warrants	37	$ 734	(697)
Shared-based compensation	22,666		22,666
Unrealized gain (loss) on available-for-sale securities	11			11
Net loss	(147,644)				(147,644)
Balance (in shares) at Sep. 30, 2021		129,570,000
Balance at Sep. 30, 2021	298,172	$ 967,159	54,607	(794)	(722,800)
Balance (in shares) at Jun. 30, 2021		128,396,000
Balance at Jun. 30, 2021	332,257	$ 954,572	51,022	(792)	(672,545)
Increase (Decrease) in Stockholders' Equity
Shares issued on exercise of stock options and vesting of performance awards and restricted stock units (in shares)		1,172,000
Shares issued on exercise of stock options and vesting of performance awards and restricted stock units	9,074	$ 12,579	(3,505)
Exercise of warrants (in shares)		2,000
Exercise of warrants	6	$ 8	(2)
Shared-based compensation	7,092		7,092
Unrealized gain (loss) on available-for-sale securities	(2)			(2)
Net loss	(50,255)				(50,255)
Balance (in shares) at Sep. 30, 2021		129,570,000
Balance at Sep. 30, 2021	$ 298,172	$ 967,159	54,607	(794)	(722,800)
Balance (in shares) at Dec. 31, 2021	141,600,000	141,600,000
Balance at Dec. 31, 2021	$ 479,091	$ 1,177,051	59,014	(852)	(756,122)
Increase (Decrease) in Stockholders' Equity
Shares issued on exercise of stock options and vesting of performance awards and restricted stock units (in shares)	77,000	383,000
Shares issued on exercise of stock options and vesting of performance awards and restricted stock units	$ 522	$ 5,064	(4,542)
Issuance of common shares in conjunction with ESPP program (in shares)		127,000
Issuance of common shares in conjunction with ESPP program	1,223	$ 1,905	(682)
Shared-based compensation	25,398		25,398
Unrealized gain (loss) on available-for-sale securities	(675)			(675)
Net loss	$ (82,134)				(82,134)
Balance (in shares) at Sep. 30, 2022	142,110,000	142,110,000
Balance at Sep. 30, 2022	$ 423,425	$ 1,184,020	79,188	(1,527)	(838,256)
Balance (in shares) at Jun. 30, 2022		141,892,000
Balance at Jun. 30, 2022	423,768	$ 1,180,884	74,004	(1,853)	(829,267)
Increase (Decrease) in Stockholders' Equity
Shares issued on exercise of stock options and vesting of performance awards and restricted stock units (in shares)		218,000
Shares issued on exercise of stock options and vesting of performance awards and restricted stock units	0	$ 3,136	(3,136)
Shared-based compensation	8,320		8,320
Unrealized gain (loss) on available-for-sale securities	326			326
Net loss	$ (8,989)				(8,989)
Balance (in shares) at Sep. 30, 2022	142,110,000	142,110,000
Balance at Sep. 30, 2022	$ 423,425	$ 1,184,020	$ 79,188	$ (1,527)	$ (838,256)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows used in operating activities:
Net loss	$ (82,134)	$ (147,644)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	2,487	2,030
Upfront license and milestone expense	0	10,000
Share-based compensation expense	25,398	22,666
Inventory write-down	2,464	0
Other, net	587	1,005
Net changes in operating assets and liabilities
Accounts receivable	(26,356)	(9,815)
Inventories, net	(8,458)	(5,366)
Prepaid expenses and other current assets	(3,461)	(6,541)
Non-current assets	(830)	247
Accounts payable, accrued and other liabilities	875	1,149
Lease liabilities	(551)	499
Net cash used in operating activities	(89,979)	(131,770)
Cash flows used in investing activities:
Purchase of investments	(403,184)	(342,831)
Proceeds from investments	346,109	263,752
Upfront lease payment	(381)	(11,838)
Upfront license payment	0	(6,000)
Purchase of non-current assets	(158)	(268)
Additions to internal use-software implementation costs	0	(1,198)
Net cash used in investing activities	(57,614)	(98,383)
Cash flows from financing activities
Proceeds from exercise of stock options and employee share purchase plan	1,745	15,353
Proceeds from exercise of warrants	0	37
Cash provided by financing activities	1,745	15,390
Net decrease in cash, cash equivalents and restricted cash	(145,848)	(214,763)
Cash, cash equivalents and restricted cash, beginning of period	231,900	272,350
Cash, cash equivalents and restricted cash, end of period	86,052	57,587
Supplemental cash flow information
Cash received for interest	1,705	671
Cash paid for taxes	(779)	(236)
Cash paid for amounts included in the measurement of lease liabilities	(897)	(195)
Supplemental disclosure of noncash transactions
Initial recognition of operating lease right-of-use asset	0	419
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets
Cash, cash equivalents	85,341	57,587
Restricted cash	711	0
Total cash, cash equivalents and restricted cash	$ 86,052	$ 57,587

Organization and Description of

Organization and Description of Business	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Aurinia Pharmaceuticals Inc. (Aurinia or the Company) is a fully integrated biopharmaceutical company focused on delivering therapies to treat targeted patient populations that are impacted by serious diseases with a high unmet medical need. In January 2021, the Company introduced LUPKYNIS ® (voclosporin), the first U.S. Food and Drug Administration (FDA) approved oral therapy for the treatment of adult patients with active lupus nephritis (LN) and continues to conduct pre-clinical, clinical, and regulatory activities to support the voclosporin development program as well as our other assets. On August 17, 2021, the Company announced the addition of two novel assets AUR200 and AUR300. AUR200 and AUR300 are currently undergoing pre-clinical development with projected submission of Investigational New Drug Applications (INDs) to the FDA in 2023. On September 15, 2022, the European Commission (EC) granted marketing authorization of LUPKYNIS to Otsuka Pharmaceutical Co., Ltd. (Otsuka). The centralized marketing authorization is valid in all European (EU) member states as well as in Iceland, Liechtenstein, Norway and Northern Ireland. Aurinia's head office is located at #1203-4464 Markham Street, Victoria, British Columbia, Canada and its registered office is located at #201, 17873-106 A Avenue, Edmonton, Alberta. Aurinia also has a U.S. commercial office located at 77 Upper Rock Circle Suite 700, Rockville, Maryland, 20850 United States. Aurinia is incorporated pursuant to the Business Corporations Act (Alberta). The Company’s common shares are traded on the Nasdaq Global Market (Nasdaq) under the symbol AUPH.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments considered necessary for fair presentation in accordance with U.S. GAAP. The condensed consolidated balance sheet as of December 31, 2021 was derived from audited annual consolidated financial statements but does not include all annual disclosures required by U.S. GAAP. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. The results of operations for the nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the full year or any other future periods. These unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Aurinia Pharma U.S., Inc. (Delaware incorporated) and Aurinia Pharma Limited (UK incorporated). All intercompany balances and transactions have been eliminated in consolidation and operate in one segment. These unaudited condensed consolidated financial statements are presented in U.S. dollars which is the Company's functional currency, therefore, there is no currency translation adjustment upon consolidation as the remeasurement of gains or losses are recorded in the condensed consolidated statements of operations. All assets and liabilities denominated in a foreign currency are remeasured into U.S. dollars at the exchange rate on the balance sheet date. Revenues and expenses are remeasured at the average exchange rate during the period. Foreign exchange gains and losses arising on translation or settlement of a foreign currency denominated monetary item are included in the condensed consolidated statements of operations. Significant Accounting Policies Other than as described below, the Company's significant accounting policies have not changed from those previously described in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. Restricted cash : Restricted cash consists of the 2021 Employee Share Purchase Plan (2021 ESPP) deposits of $0.7 million and $0.3 million as of September 30, 2022 and December 31, 2021, respectively. Major Customers: The Company currently has two main customers for U.S. commercial sales of LUPKYNIS and a collaboration partner for sales of LUPKYNIS in the EU, Japan, as well as the United Kingdom, Russia, Switzerland, Norway, Belarus, Iceland, Liechtenstein and Ukraine (collectively, the "Otsuka Territories"). Revenues from the two main customers in the U.S. accounted in total of approximately 48% for the three months ended September 30, 2022 and 74% for the nine months ended September 30, 2022 of the Company's total revenues. Our collaboration partner for sales outside the U.S. accounted for approximately 52% and 26% for the three and nine months ended September 30, 2022 of the Company's total revenues. In late March 2022, we provided a nominal additional discount to both of our two main U.S. customers, applicable for the remainder of the 2022 calendar year, in connection with holding additional amounts of LUPKYNIS on hand due to supply chain concerns. Such discounts, or any future discounts, may result in reduced sales to these customers in subsequent periods and substantial fluctuations in our revenues from period to period. The Company monitors economic conditions, the creditworthiness of customers and government regulations and funding, both domestically and abroad. The Company regularly communicates with its customers regarding the status of receivable balances. Global economic conditions and customer specific factors may require the Company to periodically re-evaluate the collectability of its receivables and based on this evaluation the Company could potentially incur credit losses. Product Revenues In the United States (and territories), the Company sells LUPKYNIS primarily to specialty pharmacies and specialty distributors. These customers subsequently resell the Company's products to health care providers and patients. Revenues from product sales are recognized when the customer obtains control of our product, which typically occurs upon delivery to the customer. Reserves for discounts and allowances: Product sales are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established. These reserves are based on estimates of the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable (if the amount is payable to our customer) or a liability (if the amount is payable to a party other than our customer). The Company's estimates of reserves established for variable consideration are calculated based upon utilizing the expected value method. The transaction price, which includes variable consideration reflecting the impact of discounts and allowances, may be subject to constraint and is included in the net sales price only to the extent that it is probable that a significant reversal of the amount of the cumulative revenues recognized will not occur in a future period. Amounts related to such items are estimated at contract inception and updated at the end of each reporting period as additional information becomes available. Significant judgment is required in estimating variable consideration. In making these estimates, we consider historical data, including patient mix and inventory sold to our customers that has not yet been dispensed. We use a data aggregator and historical claims to estimate variable consideration for inventory sold to our customers, including specialty pharmacies and specialty distributors, that has not yet been dispensed. Actual amounts may ultimately differ from the Company's estimates. If actual results vary, the Company adjust these estimates, which could have an effect on earnings in the period of adjustment. As of September 30, 2022, we did not have any material adjustments to estimates based on actual results. These specific adjustments are detailed further in our Annual Report on Form 10-K for the year ended December 31, 2021. Milestone Payments: At the inception of each arrangement that includes development or commercial sales milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. The transaction price is then allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, the Company re-evaluates the probability of achievement of such development milestones and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect license, collaboration and other revenues and earnings in the period of adjustment. Any consideration related to sales-based royalties (and sales-based milestones) will be recognized when the related sales occur. As of September 30, 2022, we recognized $30.0 million for the regulatory milestone related to the EC marketing authorization of LUPKYNIS. Accounts receivable, net: Accounts receivable are stated at their net realizable value. The Company's accounts receivable represents amounts due to the Company from product sales and from its Otsuka collaboration agreement (Note 12). Milestone payments that have not been invoiced as of the balance sheet date are recorded as unbilled accounts receivable. As of September 30, 2022 and December 31, 2021, accounts receivable, net are $41.8 million and $15.4 million. The accounts receivable, net as of September 30, 2022 includes $28.8 million due from Otsuka related to the achievement of a regulatory milestone in September 2022, for which payment was received on October 31, 2022. The timing between the recognition of revenue for product sales and the receipt of payment is not significant. Our standard credit terms range from 30 to 45 days. We do not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between the transfer of the promised good to the customer and receipt of payment will be one year or less. We estimate the allowance for doubtful accounts using the current expected credit loss, or CECL, model. Under the CECL model, the allowance for doubtful accounts reflects the net amount expected to be collected from the account receivables. We evaluate the collectability of these cash flows based on the asset’s amortized cost, the risk of loss even when that risk is remote, losses over an asset’s contractual life, and other relevant information available to us. Accounts receivable balances are written off against the allowance when it is probable that the receivable will not be collected. The allowance for doubtful accounts was $nil as of September 30, 2022 and as of December 31, 2021. Share-Based Compensation: The Company follows ASC Topic 718, Compensation - Stock Compensation (ASC 718), which requires the measurement and recognition of compensation expense, based on estimated fair values, for all share-based awards made to employees and directors. The Company records compensation expense based on the fair value on the grant date using the graded accelerated vesting method for all share-based payments related to stock options, performance awards (PAs), restricted stock units (RSUs) and purchases under the Company's 2021 ESPP. For stock options, forfeitures are estimated based on historical experience at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates. For RSUs and PAs, forfeitures are accounted for as they occur. Recently adopted accounting pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which clarifies and simplifies certain aspects of the accounting for income taxes such as eliminating the exception to the general intraperiod tax allocation principle. The standard is effective for years beginning after December 15, 2020, and interim periods within annual periods beginning after December 15, 2020. The Company adopted the ASU effective January 1, 2021, with no material impact on the condensed consolidated financial statements. In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance, which requires business entities to make annual disclosures about transactions with a government (including government assistance) by analogizing to a grant or contribution accounting model. The required disclosures include the nature of the transaction, the entity's related accounting policy, the financial statement line items affected and the amounts reflected in the current period financial statements, as well as any significant terms and conditions. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2021. The Company adopted the ASU effective January 1, 2022, with no material impact on the condensed consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company's financial instruments consist primarily of cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued liabilities. The carrying value of accounts receivable, accounts payable and accrued liabilities approximate their fair value because of their short-term nature. Estimated fair value of available-for-sale securities are generally based on prices obtained from commercial pricing services. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from sources independent from the Company) and to minimize the use of unobservable inputs (the Company’s assumptions about how market participants would price assets and liabilities). As a basis for considering such assumptions, a three-tier fair value hierarchy has been established, which prioritizes the inputs used in measuring fair value as follows: • Level 1 - Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 - Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. • Level 3 - Unobservable inputs that reflect the reporting entity’s own assumptions. The following table summarizes the financial assets (cash, cash equivalents, restricted cash and short-term investments) measured at fair value on a recurring basis: September 30, 2022 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Cash, cash equivalents and restricted cash $ 86,052 $ — $ — $ 86,052 U.S. agency security — 4,904 — 4,904 Corporate bond — 98,068 — 98,068 Commercial paper 112,633 — — 112,633 Treasury bill — 26,704 — 26,704 Treasury bond — 44,553 — 44,553 Yankee bond — 3,730 — 3,730 Total financial assets $ 198,685 $ 177,959 $ — $ 376,644 December 31, 2021 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Cash, cash equivalents and restricted cash $ 231,900 $ — $ — $ 231,900 Certificates of deposit — 3,140 — 3,140 Corporate bond — 21,820 — 21,820 Commercial paper 206,724 — — 206,724 Treasury bill — 2,494 — 2,494 Total financial assets $ 438,624 $ 27,454 $ — $ 466,078 The Company's Level 1 instruments include cash, cash equivalents, restricted cash and commercial paper that are valued using quoted market prices. We estimate the fair values of our investments in corporate debt securities, government and government related securities and certificates of deposits by taking into consideration valuations obtained from third-party pricing services. The fair value of our short-term investments classified within Level 2 is based upon observable inputs that may include benchmark yield curves, reported trades, issuer spreads, benchmark securities and reference data including market research publications. At September 30, 2022, and December 31, 2021, the weighted average remaining contractual maturities of our Level 1 and 2 investments were approximately for 7 months and 8 months, respectively. These investments have an overall rating of A-1, or higher, by Moody’s, Standard & Poor’s and Fitch. No credit loss allowance was recorded as of September 30, 2022, as we do not believe the unrealized loss is a result of a credit loss due to the nature of our investments. We also considered the current and expected future economic and market conditions and determined that the estimate of credit losses was not significantly impacted. Refer to Note 4, “Cash, Cash Equivalents, Restricted Cash and Short-Term Investments,” for the carrying amount and related unrealized gains (losses) by type of investment.

Cash, Cash Equivalents, Restric

Cash, Cash Equivalents, Restricted Cash and Short-Term Investments	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Cash, Cash Equivalents, Restricted Cash and Short-Term Investments	Cash, Cash Equivalents, Restricted Cash and Short-Term Investments As of September 30, 2022 and December 31, 2021, the Company had $376.6 million and $466.1 million, respectively of cash, cash equivalents, restricted cash and short-term investments summarized below. As of September 30, 2022, $376.6 million were available-for-sale debt securities which are carried at fair market value. As of December 31, 2021, $446.9 million were classified as available-for-sale and $19.2 million were held-to-maturity. September 30, 2022 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Cash, cash equivalents and restricted cash $ 86,052 $ — $ — $ 86,052 U.S. agency security 4,900 4 — 4,904 Corporate bond 98,448 — (380) 98,068 Commercial paper 112,833 — (200) 112,633 Treasury bill 26,721 — (17) 26,704 Treasury bond 44,670 — (117) 44,553 Yankee bond 3,742 — (12) 3,730 Total cash, cash equivalents, restricted cash and short-term investments $ 377,366 $ 4 $ (726) $ 376,644 December 31, 2021 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Cash, cash equivalents and restricted cash $ 231,900 $ — $ — $ 231,900 Certificates of deposit 3,144 — (4) 3,140 Corporate bond 2,592 — (1) 2,591 Commercial paper 206,764 — (40) 206,724 Treasury bill 2,497 — (2) 2,495 Total $ 446,897 $ — $ (47) $ 446,850 Total held to maturity securities at amortized cost 19,228 Total cash, cash equivalents, restricted cash and short-term investments $ 466,078 As of September 30, 2022 and December 31, 2021, accrued interest receivable from the investments were $0.7 million and $0.1 million, respectively. During the three and nine months ended September 30, 2022, the Company had $0.3 million and $0.7 million unrealized gains and losses on available-for-sale securities, net of tax, respectively, which are included as a component of comprehensive loss on the consolidated statements of operations. Currently, the Company does not intend to sell investments that are in an unrealized loss position, and it is unlikely we will be required to sell the investments before recovery of their amortized cost basis, which may be at maturity. We have determined that the gross unrealized losses on our investments at September 30, 2022, were temporary in nature. Realized gains or losses were immaterial during the three and nine months ended September 30, 2022 and 2021.

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventories, net	Inventories, netInventories are valued under a standard costing methodology on a first-in, first-out basis and are stated at the lower of cost or net realizable value. The Company capitalizes inventory costs related to products to be sold in the ordinary course of business. The Company makes a determination of capitalizing inventory costs for a product based on, among other factors, status of regulatory approval, information regarding safety, efficacy and expectations relating to commercial sales and recoverability of costs. Capitalized costs of inventories for LUPKYNIS mainly include third party manufacturing costs, transportation, storage, insurance, and allocated internal labor. The Company assesses recoverability of inventory each reporting period to determine any write-down to net realizable value resulting from excess or obsolete inventories. As of September 30, 2022, we have recorded reserves of finished goods inventories of approximately $2.7 million which were primarily related to process validation batches used for FDA approval. The components of inventory, net are as follows: (in thousands) September 30, 2022 December 31, 2021 Raw materials $ 2,217 $ 2,217 Work in process 20,150 12,566 Finished goods 2,953 4,543 Total inventories $ 25,320 $ 19,326

Prepaid Expenses

Prepaid Expenses	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses	Prepaid Expenses Prepaid expenses are as follows: (in thousands) September 30, 2022 December 31, 2021 Prepaid assets $ 5,725 $ 5,316 Prepaid deposits 3,582 4,762 Prepaid insurance 2,852 1,632 Total prepaid expenses $ 12,159 $ 11,710

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The following table summarizes the carrying amount of intangible assets, net of accumulated amortization. September 30, 2022 (in thousands) Gross Carrying Accumulated Net Carrying Patents $ 1,473 $ (1,249) $ 224 Acquired intellectual property and reacquired rights 15,126 (9,580) 5,546 Internal-use software implementation costs 2,873 (1,804) 1,069 $ 19,472 $ (12,633) $ 6,839 December 31, 2021 (in thousands) Gross Carrying Accumulated Net Carrying Patents $ 1,471 $ (1,176) $ 295 Acquired intellectual property and reacquired rights 15,126 (8,804) 6,322 Internal-use software implementation costs 2,873 (1,086) 1,787 $ 19,470 $ (11,066) $ 8,404 Amortization expense for the three months ended September 30, 2022 and 2021 was $0.5 million for both periods and for the nine months ended September 30, 2022 and 2021 was $1.6 million for both periods.

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net Property and equipment, net are as follows: (in thousands) September 30, 2022 December 31, 2021 Construction in progress $ 217 $ 393 Leasehold improvements 2,978 2,978 Office equipment 645 645 Furniture 976 976 Computer equipment 251 262 5,067 5,254 Less accumulated depreciation (1,309) (836) Property and equipment, net $ 3,758 $ 4,418

Lease Obligations

Lease Obligations	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Lease Obligations	Lease Obligations The Company has the following lease obligations: Victoria, British Columbia During August 2020, the Company signed a lease for commercial office space in Victoria, British Columbia for a new corporate headquarters that was expected to commence in April 2022. During the fourth quarter of 2020, the Company entered into 18-month facility and furniture leases for its existing corporate head office located in Victoria, British Columbia. The lease terms commenced on January 1, 2021 with an end date of August 31, 2022. On August 3, 2022, we provided notice of termination for the lease of the intended new corporate headquarters space in Victoria on the basis that the landlord's work was not completed by the time required under the lease. As a result of the termination, the company expensed $0.3 million of CIP cost that was related to the new corporate headquarters. On September 1, 2022, the fixed lease term ended for Aurinia's existing corporate headquarters and the Company exercised its right to enter into a month to month lease, of which expenses are incurred in SG&A. Rockville, Maryland During March 2020, the Company entered into a lease for its U.S. commercial office in Rockville, Maryland for a total of 30,531 square feet of office space. The lease has a remaining term of approximately 9 years and has an option to extend for two five-year periods after the initial term of 11 years has elapsed and has an option to terminate after seven years. As of September 30, 2022, the Company had a right-of-use asset of $4.9 million and lease liability of $8.2 million included in the condensed consolidated balance sheets. As of December 31, 2021, the Company had a right of use asset of $5.2 million and lease liability of $8.6 million included in the condensed consolidated balance sheets. The Company recorded leasehold improvement incentives in the amount of $2.3 million as additions to the lease liability. The lease term commenced on March 12, 2020. When measuring the lease liability, the Company discounted lease payments using its incremental borrowing rate at March 12, 2020. The incremental borrowing rate applied to the lease liability on March 12, 2020 was 5.2% based on the financial position of the Company, geographical region and term of lease. Edmonton, Alberta As of September 30, 2022, the Company has a short term lease in Edmonton, Alberta in which expenses are recognized in SG&A. The lease is not material to the Company's financial position. The Company incurs variable lease costs under the existing Victoria and Rockville leases. These costs include operation and maintenance costs included in SG&A and are expensed as incurred. The variable lease costs are not material to the Company's financial position. The operating lease costs for the three and nine months ended September 30, 2022 and September 30, 2021 are $0.2 million and $0.8 million for both periods respectively. The following table represents the weighted-average remaining lease term and discount rate as of September 30, 2022: As of September 30, 2022 Weighted Average Remaining Lease Term (years) Weighted Average Discount Rate Operating leases 8.9 5.22% The following table provides a summary of operating lease liabilities payments for the next five years and thereafter: (in thousands) Operating Lease Payments Remainder of 2022 $ 263 2023 1,061 2024 1,085 2025 1,110 2026 1,135 Thereafter 5,638 Total future minimum lease payments 10,292 Less: lease imputed interest (2,104) Total future minimum lease payments $ 8,188 On December 15, 2020, the Company entered into a collaborative agreement with Lonza to build a dedicated manufacturing facility within Lonza’s existing small molecule facility in Visp, Switzerland. The dedicated facility (also referred to as "monoplant") will be equipped with state-of-the-art manufacturing equipment to provide cost and production efficiency for the manufacture of voclosporin, while expanding existing capacity and providing supply security to meet future commercial demand. Following U.S. regulatory approval of LUPKYNIS in January 2021, the Company has commenced a capital expenditure payment program for the monoplant totaling approximately CHF 21.0 million. The first capital expenditure payment was made in February 2021 of $11.8 million (CHF 10.5 million) and was treated as an upfront lease payment and recorded under other non-current assets on the condensed consolidated balance sheets. The second payment is not due until the facility fulfills the required operational qualifications which is estimated to be during the first half of 2023. Upon completion of the monoplant, the Company will have the right to maintain sole dedicated use of the monoplant by paying a quarterly fixed facility fee. The Company expects to account for the arrangement as a finance lease under ASC 842. The present value of the minimum lease payments total approximately $73.0 million, beginning April 2023 and expiring in 2030, and are not included in the above table.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities are as follows: (in thousands) September 30, 2022 December 31, 2021 Employee accruals $ 16,511 $ 18,278 Commercial accruals 9,140 5,916 Accrued R&D projects 8,995 6,412 Other accrued liabilities 5,411 3,527 Income taxes payable 66 814 Total accounts payable and accrued liabilities $ 40,123 $ 34,947

Deferred Compensation and Other

Deferred Compensation and Other Non-current Liabilities	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Deferred Compensation and Other Non-current Liabilities	Deferred Compensation and Other Non-current LiabilitiesThe Company recorded other non-current liabilities of $15.8 million and $16.0 million as of September 30, 2022 and December 31, 2021, respectively. The balance as of September 30, 2022 and December 31, 2021 primarily included deferred compensation arrangements whereby certain executive officers as of March 8, 2012 were provided with future potential employee benefit obligations for remaining with the Company, for a certain period of time. These obligations were also contingent on the occurrence of uncertain future events. Other non-current liabilities also include milestone payments deemed probable to be paid in the future.

License and Collaboration Agree

License and Collaboration Agreement	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
License and Collaboration Agreement	License and Collaboration Agreements Otsuka Contract On December 17, 2020, the Company entered into a collaboration and license agreement with Otsuka for the development and commercialization of oral LUPKYNIS in the Otsuka Territories. As part of the agreement, the Company received an upfront cash payment of $50.0 million for the license agreement and has the potential to receive up to $50.0 million in regulatory related milestones. The Company will provide semi-finished product of LUPKYNIS to Otsuka on a cost-plus basis, and will receive tiered royalties on future sales ranging from 10 to 20 percent (dependent on territory and achievement of sale thresholds) on net product sales by Otsuka, along with additional milestone payments based on the attainment of certain annual sales. In addition, certain collaboration services are to be provided to Otsuka on agreed upon rates. In furtherance of the collaboration and license agreement with Otsuka mentioned above, on August 1, 2022, the Company entered into a commercial supply agreement with Otsuka, formalizing the terms to supply semi-finished goods of LUPKYNIS to Otsuka in the Otsuka Territories, including capacity sharing of the monoplant. On September 15, 2022, the European Commission (EC) granted marketing authorization of LUPKYNIS. The centralized marketing authorization is valid in all EU member states as well as in Iceland, Liechtenstein, Norway and Northern Ireland. The approval triggered a $30.0 million milestone to the Company, which was recognized as collaboration revenue in the three and nine months period ended September 30, 2022 and was subsequently received on October 31, 2022. For the three and nine months ended September 30, 2022, the Company recognized $0.2 million and $0.4 million, respectively, of collaboration service revenue from Otsuka. Riptide License On August 17, 2021, AUR300 (M2 macrophage modulation via CD206 binding) was secured through a global licensing and research agreement with Riptide Bioscience, Inc. (Riptide), a private company. As part of the agreement, in 2021 the Company paid Riptide an upfront license fee of $6.0 million which was expensed as research and development on the condensed consolidated statements of operations. During the first quarter of 2022, Aurinia paid $4.0 million for the achievement of a one-time milestone. Additional payments are due upon certain development, clinical and regulatory milestones, and royalties will be payable upon commercialization.

Net Loss per Common Share

Net Loss per Common Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Loss per Common Share	Net Loss per Common Share Basic and diluted net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding. Since the Company was in a loss position for all periods presented, diluted net loss per share is the same as basic net loss per share. The numerator and denominator used in the calculation of basic and diluted net loss per common share are as follows: Three months ended Nine Months Ended (in thousands, except per share data) 2022 2021 2022 2021 Net loss $ (8,989) $ (50,255) $ (82,134) $ (147,644) Weighted average common shares outstanding 141,856 128,443 141,831 128,084 Net loss per common share (expressed in $ per share) $ (0.06) $ (0.39) (0.58) (1.15) The Company did not include the securities in the following table in the computation of the net loss per common share because the effect would have been anti-dilutive during each period: Nine months ended (in thousands) 2022 2021 Stock options 14,299 12,837 Unvested performance awards — 857 Unvested restricted units 2,098 201 Warrants — 1,012 16,397 14,907

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation The Company's Amended and Restated Equity Incentive Plan (the Plan), which was adopted and approved by the Company's shareholders in June 2021, allows for an issuance of up to an aggregate of 23.8 million shares (inclusive of then outstanding awards) and provides for grants of stock options, performance awards, and restricted stock units (RSUs) that may be settled in cash and common shares. Also in June 2021, the Company's shareholders adopted and approved the Company's 2021 ESPP, which allows for the issuance of up to 2.5 million shares. The 2021 ESPP is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code (the Code) but also permits the Company to include the employees, including non-United States employees, in offerings not intended to qualify under Section 423. The purpose of the 2021 ESPP is to provide eligible employees with opportunities to purchase the Company’s common shares at a discounted price. During the second quarter of 2022, the Company modified the 2021 ESPP for the current and future offerings. The new ESPP terms shortened the plan from four (4) purchases over a 24 month Offering Period to two (2) purchases over a 12 month offering period. Additionally, the ESPP now contains a rollover mechanism; that is, if the stock price on the purchase date is less than the offering price (as that is determined under the 2021 ESPP), that offering is then canceled and any participants are rolled into the new 12 month offering period at the lower price. As a result of the modification, $475 thousand of incremental expense was added to the estimated expense for the November 2022 and May 2023 purchase dates (to be amortized over the new 12 month offering period). Additionally, the originally scheduled purchase date in November 2023 is no longer planned given the new 12 month offering period; therefore, the modification also resulted in a “repurchase for no consideration” under ASC 718. The Company recognized an additional $651 thousand of unamortized expense for the cancelled November 2023 purchase, which was recorded during the second quarter of 2022. In addition to stock options, performance awards and RSUs granted under the Plan, the Company has granted certain stock options and RSUs as inducements material to new employees entering employment in accordance with Nasdaq Listing Rule 5635(c)(4). The inducements were granted outside of the Plan during 2022. Stock Options The Plan requires the exercise price of each option not to be less than the closing market price of the Company’s common shares on the day immediately prior to the date of grant. The board of directors approves the vesting criteria and periods at its discretion. The options issued under the plan are accounted for as equity-settled share-based payments. The Company used the Black-Scholes option pricing model to estimate the fair value of the options granted. The Company considers historical volatility of its common shares in estimating its future stock price volatility. The risk-free interest rate for the expected life of the options was based on the yield available on government benchmark bonds with an approximate equivalent remaining term at the time of the grant. The expected life is based upon the contractual term, taking into account expected employee exercise and expected post-vesting employment termination behavior. The following weighted average assumptions were used to estimate the fair value of the options granted during the nine months ended September 30, 2022 and September 30, 2021: 2022 2021 Annualized volatility 70 % 66 % Risk-free interest rate 2.01 % 0.38 % Expected life of options in years 5.0 years 4.0 years Estimated forfeiture rate 12.1 % 8.9 % Dividend rate 0.0 % 0.0% Fair value per common share option $ 6.60 $ 6.64 The following table summarizes the option award activity for the nine months ended September 30, 2022: September 30, 2022 Number of shares (in thousands) Weighted average exercise price $ Outstanding - December 31, 2021 12,074 $ 12.84 Granted 3,809 11.25 Exercised (77) 6.47 Forfeited (1,507) 14.63 Outstanding - September 30, 2022 14,299 $ 12.26 Performance Awards and Restricted Stock Units On October 23, 2020, the Company issued 439,000 PAs to executive management of the Company whose vesting was contingent upon meeting specific performance metrics based on the results for the year ended December 31, 2021. Each PA which vested entitled the participant to receive common shares on the basis of the performance metrics set. On March 18, 2021 performance metrics were set and formally communicated. Therefore, March 18, 2021 was the grant date and the fair value on the grant date was $13.56. The PAs vested in 2022 and the participant was required to achieve at least one of the performance metrics to obtain the portion of the award associated with the metric. On August 6, 2021, the Company granted approximately 619,000 PAs and RSUs. The grant date for the PAs and RSUs was August 6, 2021 and the fair value on the grant date was $14.42 as this was the date performance measures were set and communicated to employees. The PAs vested on the employee's first anniversary of the grant date and the employee was required to achieve at least one of the performance metrics to obtain the portion of the award associated with the metric. The RSUs had no performance metrics and vested on the one year anniversary of the grant. During the 2022, the Company has granted RSUs and intends to grant RSUs throughout the year under the Plan, as well as inducements for certain new hires as discussed above. The RSUs are fair valued based on the market price of our common shares on the date of the grant. The following table summarizes the PA and RSU activity for the nine months ended September 30, 2022: September 30, 2022 Number of shares (in thousands) Weighted average exercise price $ Outstanding - December 31, 2021 347 $ 13.33 Granted 2,311 11.26 Vested (305) 14.17 Forfeited (255) 12.39 Outstanding - September 30, 2022 2,098 $ 11.04 Compensation Expense The Company recognized share-based compensation expense for the three and nine month periods ended September 30, 2022 and September 30, 2021 as follows: Three months ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Research and development $ 1,489 $ 1,038 $ 3,531 $ 3,201 Selling, general and administrative 6,625 6,000 21,480 19,189 Capitalized under inventories 206 54 387 276 Share-based compensation expense $ 8,320 $ 7,092 $ 25,398 $ 22,666 As of September 30, 2022, there was $33.6 million of unrecognized share-based compensation expense related to unvested awards granted which is expected to be recognized over a weighted-average period of approximately 1.4 years.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rates for the three and nine months ended September 30, 2022 and September 30, 2021 differed from the federal statutory rate applied to losses before income taxes primarily as a result of the mix of income, losses and valuation allowances. The Company recognized an income tax expense of approximately $1.0 million for the three and nine months ended September 30, 2022. The Company recognized an income tax expense of approximately $8 thousand and $34 thousand for the three and nine months ended September 30, 2021, respectively. The expense recognized for these periods is a result of income in certain jurisdictions and withholding taxes on foreign income. The Company currently has tax expense in certain jurisdictions that are not offset by tax benefits. The increase from prior periods was due to withholding taxes. Uncertain Tax Positions The Company was under examination by the Canadian Revenue Agency for years 2017 and 2018. In March 2022, the Company was notified by the Canadian Revenue Agency that the examination is now complete and there were no findings and as a result, there is no additional tax expense or benefit recognized in regards to the audit. There are no outstanding tax audits ongoing at September 30, 2022.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related-Party Transactions	Related Party TransactionsILJIN SNT Co., Ltd (ILJIN) was considered to be a related party due to their equity ownership of over 5% as per their public filing. The outstanding related party amount payable to ILJIN was the result of a settlement completed on September 20, 2013 between ILJIN and the Company. During 2021, Aurinia paid ILJIN $6.0 million upon achievement of specific milestones. The amount payable to ILJIN is nil as of September 30, 2022 and December 31, 2021.

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThe Company may, from time to time, be subject to claims and legal proceedings brought against it in the normal course of business. Such matters are subject to many uncertainties. Management believes the ultimate resolution of such contingencies will not have a material adverse effect on the consolidated financial position of the Company. The Company's material commitments and contingencies have not changed in any material manner from those previously described in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and the quarterly report for the quarter ended September 30, 2022. Other Funding Commitments In the normal course of business, the Company enters into agreements with contract research organizations, contract manufacturing organizations and other third parties for services to be provided to the Company. Generally, these agreements provide for termination upon notice, with specified amounts due upon termination based on the timing of termination and the terms of the agreement. The actual amounts and timing of payments under these agreements are uncertain and contingent upon the initiation and completion of services to be provided to the Company.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company’s Compensation Committee granted 4 new employees an aggregate of 20,800 inducement stock options and an aggregate of 12,500 inducement RSUs. The options have a per share exercise price of $7.52, the closing price of Aurinia's common stock on September 30 , 2022. The stock options and RSUs have a grant date of October 3, 2022. The stock options and RSUs were granted as inducements material to the new employees entering employment with Aurinia in accordance with Nasdaq Listing Rule 5635(c)(4). On October 17, 2022, Aurinia mutually agreed with Robert Huizinga, PhD RN, CNeph(C), Executive Vice President, Research and Neil Solomons, M.D., Chief Medical Officer, to cease their employment with Aurinia, each effective October 31, 2022. Aurnia has entered into separation agreements with Dr. Huizinga and Dr. Solomons which will supersede and replace all the severance arrangements between Aurinia and Dr. Huizinga and Dr. Solomons, set forth in their respective employment agreements with Aurinia, dated October 1, 2018 and September 12, 2012, respectively (together, as amended, the Employment Agreements). The terms of the separation agreements are expected to be consistent with the terms of the Employment Agreements, respectively.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments considered necessary for fair presentation in accordance with U.S. GAAP. The condensed consolidated balance sheet as of December 31, 2021 was derived from audited annual consolidated financial statements but does not include all annual disclosures required by U.S. GAAP. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. The results of operations for the nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the full year or any other future periods.
Restricted cash	Restricted cash : Restricted cash consists of the 2021 Employee Share Purchase Plan (2021 ESPP) deposits of $0.7 million and $0.3 million as of September 30, 2022 and December 31, 2021, respectively.
Major Customers	Major Customers: The Company currently has two main customers for U.S. commercial sales of LUPKYNIS and a collaboration partner for sales of LUPKYNIS in the EU, Japan, as well as the United Kingdom, Russia, Switzerland, Norway, Belarus, Iceland, Liechtenstein and Ukraine (collectively, the "Otsuka Territories"). Revenues from the two main customers in the U.S. accounted in total of approximately 48% for the three months ended September 30, 2022 and 74% for the nine months ended September 30, 2022 of the Company's total revenues. Our collaboration partner for sales outside the U.S. accounted for approximately 52% and 26% for the three and nine months ended September 30, 2022 of the Company's total revenues.
Product Revenues	Product Revenues In the United States (and territories), the Company sells LUPKYNIS primarily to specialty pharmacies and specialty distributors. These customers subsequently resell the Company's products to health care providers and patients. Revenues from product sales are recognized when the customer obtains control of our product, which typically occurs upon delivery to the customer. Reserves for discounts and allowances: Product sales are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established. These reserves are based on estimates of the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable (if the amount is payable to our customer) or a liability (if the amount is payable to a party other than our customer). The Company's estimates of reserves established for variable consideration are calculated based upon utilizing the expected value method. The transaction price, which includes variable consideration reflecting the impact of discounts and allowances, may be subject to constraint and is included in the net sales price only to the extent that it is probable that a significant reversal of the amount of the cumulative revenues recognized will not occur in a future period. Amounts related to such items are estimated at contract inception and updated at the end of each reporting period as additional information becomes available. Significant judgment is required in estimating variable consideration. In making these estimates, we consider historical data, including patient mix and inventory sold to our customers that has not yet been dispensed. We use a data aggregator and historical claims to estimate variable consideration for inventory sold to our customers, including specialty pharmacies and specialty distributors, that has not yet been dispensed. Actual amounts may ultimately differ from the Company's estimates. If actual results vary, the Company adjust these estimates, which could have an effect on earnings in the period of adjustment. As of September 30, 2022, we did not have any material adjustments to estimates based on actual results. These specific adjustments are detailed further in our Annual Report on Form 10-K for the year ended December 31, 2021. Milestone Payments: At the inception of each arrangement that includes development or commercial sales milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be
Accounts receivable, net	Accounts receivable, net: Accounts receivable are stated at their net realizable value. The Company's accounts receivable represents amounts due to the Company from product sales and from its Otsuka collaboration agreement (Note 12). Milestone payments that have not been invoiced as of the balance sheet date are recorded as unbilled accounts receivable. As of September 30, 2022 and December 31, 2021, accounts receivable, net are $41.8 million and $15.4 million. The accounts receivable, net as of September 30, 2022 includes $28.8 million due from Otsuka related to the achievement of a regulatory milestone in September 2022, for which payment was received on October 31, 2022. The timing between the recognition of revenue for product sales and the receipt of payment is not significant. Our standard credit terms range from 30 to 45 days. We do not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between the transfer of the promised good to the customer and receipt of payment will be one year or less.
Share-based Compensation	Share-Based Compensation: The Company follows ASC Topic 718, Compensation - Stock Compensation (ASC 718), which requires the measurement and recognition of compensation expense, based on estimated fair values, for all share-based awards made to employees and directors. The Company records compensation expense based on the fair value on the grant date using the graded accelerated vesting method for all share-based payments related to stock options, performance awards (PAs), restricted stock units (RSUs) and purchases under the Company's 2021 ESPP. For stock options, forfeitures are estimated based on historical experience at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates. For RSUs and PAs, forfeitures are accounted for as they occur.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which clarifies and simplifies certain aspects of the accounting for income taxes such as eliminating the exception to the general intraperiod tax allocation principle. The standard is effective for years beginning after December 15, 2020, and interim periods within annual periods beginning after December 15, 2020. The Company adopted the ASU effective January 1, 2021, with no material impact on the condensed consolidated financial statements. In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance, which requires business entities to make annual disclosures about transactions with a government (including government assistance) by analogizing to a grant or contribution accounting model. The required disclosures include the nature of the transaction, the entity's related accounting policy, the financial statement line items affected and the amounts reflected in the current period financial statements, as well as any significant terms and conditions. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2021. The Company adopted the ASU effective January 1, 2022, with no material impact on the condensed consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table summarizes the financial assets (cash, cash equivalents, restricted cash and short-term investments) measured at fair value on a recurring basis: September 30, 2022 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Cash, cash equivalents and restricted cash $ 86,052 $ — $ — $ 86,052 U.S. agency security — 4,904 — 4,904 Corporate bond — 98,068 — 98,068 Commercial paper 112,633 — — 112,633 Treasury bill — 26,704 — 26,704 Treasury bond — 44,553 — 44,553 Yankee bond — 3,730 — 3,730 Total financial assets $ 198,685 $ 177,959 $ — $ 376,644 December 31, 2021 (in thousands) Level 1 Level 2 Level 3 Total Financial assets: Cash, cash equivalents and restricted cash $ 231,900 $ — $ — $ 231,900 Certificates of deposit — 3,140 — 3,140 Corporate bond — 21,820 — 21,820 Commercial paper 206,724 — — 206,724 Treasury bill — 2,494 — 2,494 Total financial assets $ 438,624 $ 27,454 $ — $ 466,078

Cash, Cash Equivalents, Restr_2

Cash, Cash Equivalents, Restricted Cash and Short-Term Investments (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	September 30, 2022 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Cash, cash equivalents and restricted cash $ 86,052 $ — $ — $ 86,052 U.S. agency security 4,900 4 — 4,904 Corporate bond 98,448 — (380) 98,068 Commercial paper 112,833 — (200) 112,633 Treasury bill 26,721 — (17) 26,704 Treasury bond 44,670 — (117) 44,553 Yankee bond 3,742 — (12) 3,730 Total cash, cash equivalents, restricted cash and short-term investments $ 377,366 $ 4 $ (726) $ 376,644 December 31, 2021 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Cash, cash equivalents and restricted cash $ 231,900 $ — $ — $ 231,900 Certificates of deposit 3,144 — (4) 3,140 Corporate bond 2,592 — (1) 2,591 Commercial paper 206,764 — (40) 206,724 Treasury bill 2,497 — (2) 2,495 Total $ 446,897 $ — $ (47) $ 446,850 Total held to maturity securities at amortized cost 19,228 Total cash, cash equivalents, restricted cash and short-term investments $ 466,078

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories, net	The components of inventory, net are as follows: (in thousands) September 30, 2022 December 31, 2021 Raw materials $ 2,217 $ 2,217 Work in process 20,150 12,566 Finished goods 2,953 4,543 Total inventories $ 25,320 $ 19,326

Prepaid Expenses (Tables)

Prepaid Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule Of Prepaid Expenses And Other Current Assets	Prepaid expenses are as follows: (in thousands) September 30, 2022 December 31, 2021 Prepaid assets $ 5,725 $ 5,316 Prepaid deposits 3,582 4,762 Prepaid insurance 2,852 1,632 Total prepaid expenses $ 12,159 $ 11,710

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	The following table summarizes the carrying amount of intangible assets, net of accumulated amortization. September 30, 2022 (in thousands) Gross Carrying Accumulated Net Carrying Patents $ 1,473 $ (1,249) $ 224 Acquired intellectual property and reacquired rights 15,126 (9,580) 5,546 Internal-use software implementation costs 2,873 (1,804) 1,069 $ 19,472 $ (12,633) $ 6,839 December 31, 2021 (in thousands) Gross Carrying Accumulated Net Carrying Patents $ 1,471 $ (1,176) $ 295 Acquired intellectual property and reacquired rights 15,126 (8,804) 6,322 Internal-use software implementation costs 2,873 (1,086) 1,787 $ 19,470 $ (11,066) $ 8,404

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and equipment, net are as follows: (in thousands) September 30, 2022 December 31, 2021 Construction in progress $ 217 $ 393 Leasehold improvements 2,978 2,978 Office equipment 645 645 Furniture 976 976 Computer equipment 251 262 5,067 5,254 Less accumulated depreciation (1,309) (836) Property and equipment, net $ 3,758 $ 4,418

Lease Obligations (Tables)

Lease Obligations (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Lease, Cost	The following table represents the weighted-average remaining lease term and discount rate as of September 30, 2022: As of September 30, 2022 Weighted Average Remaining Lease Term (years) Weighted Average Discount Rate Operating leases 8.9 5.22%
Lessee, Operating Lease, Liability, Maturity	The following table provides a summary of operating lease liabilities payments for the next five years and thereafter: (in thousands) Operating Lease Payments Remainder of 2022 $ 263 2023 1,061 2024 1,085 2025 1,110 2026 1,135 Thereafter 5,638 Total future minimum lease payments 10,292 Less: lease imputed interest (2,104) Total future minimum lease payments $ 8,188

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accounts payable and accrued liabilities are as follows: (in thousands) September 30, 2022 December 31, 2021 Employee accruals $ 16,511 $ 18,278 Commercial accruals 9,140 5,916 Accrued R&D projects 8,995 6,412 Other accrued liabilities 5,411 3,527 Income taxes payable 66 814 Total accounts payable and accrued liabilities $ 40,123 $ 34,947

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Loss Per Share, Basic and Diluted	The numerator and denominator used in the calculation of basic and diluted net loss per common share are as follows: Three months ended Nine Months Ended (in thousands, except per share data) 2022 2021 2022 2021 Net loss $ (8,989) $ (50,255) $ (82,134) $ (147,644) Weighted average common shares outstanding 141,856 128,443 141,831 128,084 Net loss per common share (expressed in $ per share) $ (0.06) $ (0.39) (0.58) (1.15)
Schedule of Antidilutive Securities Excluded from Computation of Loss Per Share	The Company did not include the securities in the following table in the computation of the net loss per common share because the effect would have been anti-dilutive during each period: Nine months ended (in thousands) 2022 2021 Stock options 14,299 12,837 Unvested performance awards — 857 Unvested restricted units 2,098 201 Warrants — 1,012 16,397 14,907

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award Valuation Assumptions	The following weighted average assumptions were used to estimate the fair value of the options granted during the nine months ended September 30, 2022 and September 30, 2021: 2022 2021 Annualized volatility 70 % 66 % Risk-free interest rate 2.01 % 0.38 % Expected life of options in years 5.0 years 4.0 years Estimated forfeiture rate 12.1 % 8.9 % Dividend rate 0.0 % 0.0% Fair value per common share option $ 6.60 $ 6.64
Schedule of Option Activity	The following table summarizes the option award activity for the nine months ended September 30, 2022: September 30, 2022 Number of shares (in thousands) Weighted average exercise price $ Outstanding - December 31, 2021 12,074 $ 12.84 Granted 3,809 11.25 Exercised (77) 6.47 Forfeited (1,507) 14.63 Outstanding - September 30, 2022 14,299 $ 12.26
Schedule of Performance Shares Activity	The following table summarizes the PA and RSU activity for the nine months ended September 30, 2022: September 30, 2022 Number of shares (in thousands) Weighted average exercise price $ Outstanding - December 31, 2021 347 $ 13.33 Granted 2,311 11.26 Vested (305) 14.17 Forfeited (255) 12.39 Outstanding - September 30, 2022 2,098 $ 11.04
Allocation of Share-Based Payments	The Company recognized share-based compensation expense for the three and nine month periods ended September 30, 2022 and September 30, 2021 as follows: Three months ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Research and development $ 1,489 $ 1,038 $ 3,531 $ 3,201 Selling, general and administrative 6,625 6,000 21,480 19,189 Capitalized under inventories 206 54 387 276 Share-based compensation expense $ 8,320 $ 7,092 $ 25,398 $ 22,666

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Number of operating segments | segment			1
Cash and cash equivalents and investments	$ 376,600,000		$ 376,600,000
Restricted cash	700,000		700,000		$ 300,000
Revenues	55,779,000	$ 14,667,000	105,595,000	$ 22,201,000
Accounts receivable, net	41,771,000		41,771,000		15,414,000
Allowance for doubtful accounts	0		0		$ 0
Upfront license and milestone expense			0	10,000,000
Upfront license payment			0	$ (6,000,000)
Otuska
Property, Plant and Equipment [Line Items]
Accounts receivable, net	$ 28,800,000		28,800,000
Milestone Achievement
Property, Plant and Equipment [Line Items]
Revenues			$ 30,000,000
Minimum
Property, Plant and Equipment [Line Items]
Receivable standard credit terms (in days)			30 days
Maximum
Property, Plant and Equipment [Line Items]
Receivable standard credit terms (in days)			45 days
Customer Concentration Risk | Revenue Benchmark | Specialty Pharmacy One | United States
Property, Plant and Equipment [Line Items]
Concentration risk (as percent)	48%		74%
Customer Concentration Risk | Revenue Benchmark | Specialty Pharmacy One | Outside United States
Property, Plant and Equipment [Line Items]
Concentration risk (as percent)	52%		26%

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Financial assets:
Total financial assets	$ 376,644	$ 466,078
Cash, cash equivalents and restricted cash
Financial assets:
Total financial assets	86,052	231,900
U.S. agency security
Financial assets:
Total financial assets	4,904
Certificates of deposit
Financial assets:
Total financial assets		3,140
Corporate bond
Financial assets:
Total financial assets	98,068	21,820
Commercial paper
Financial assets:
Total financial assets	112,633	206,724
Treasury bill
Financial assets:
Total financial assets	26,704	2,494
Treasury bond
Financial assets:
Total financial assets	44,553
Yankee bond
Financial assets:
Total financial assets	3,730
Level 1
Financial assets:
Total financial assets	$ 198,685	$ 438,624
Derivative, average remaining maturity	7 months	8 months
Level 1 | Cash, cash equivalents and restricted cash
Financial assets:
Total financial assets	$ 86,052	$ 231,900
Level 1 | U.S. agency security
Financial assets:
Total financial assets	0
Level 1 | Certificates of deposit
Financial assets:
Total financial assets		0
Level 1 | Corporate bond
Financial assets:
Total financial assets	0	0
Level 1 | Commercial paper
Financial assets:
Total financial assets	112,633	206,724
Level 1 | Treasury bill
Financial assets:
Total financial assets	0	0
Level 1 | Treasury bond
Financial assets:
Total financial assets	0
Level 1 | Yankee bond
Financial assets:
Total financial assets	0
Level 2
Financial assets:
Total financial assets	$ 177,959	$ 27,454
Derivative, average remaining maturity	7 months	8 months
Level 2 | Cash, cash equivalents and restricted cash
Financial assets:
Total financial assets	$ 0	$ 0
Level 2 | U.S. agency security
Financial assets:
Total financial assets	4,904
Level 2 | Certificates of deposit
Financial assets:
Total financial assets		3,140
Level 2 | Corporate bond
Financial assets:
Total financial assets	98,068	21,820
Level 2 | Commercial paper
Financial assets:
Total financial assets	0	0
Level 2 | Treasury bill
Financial assets:
Total financial assets	26,704	2,494
Level 2 | Treasury bond
Financial assets:
Total financial assets	44,553
Level 2 | Yankee bond
Financial assets:
Total financial assets	3,730
Level 3
Financial assets:
Total financial assets	0	0
Level 3 | Cash, cash equivalents and restricted cash
Financial assets:
Total financial assets	0	0
Level 3 | U.S. agency security
Financial assets:
Total financial assets	0
Level 3 | Certificates of deposit
Financial assets:
Total financial assets		0
Level 3 | Corporate bond
Financial assets:
Total financial assets	0	0
Level 3 | Commercial paper
Financial assets:
Total financial assets	0	0
Level 3 | Treasury bill
Financial assets:
Total financial assets	0	$ 0
Level 3 | Treasury bond
Financial assets:
Total financial assets	0
Level 3 | Yankee bond
Financial assets:
Total financial assets	$ 0

Cash, Cash Equivalents, Restr_3

Cash, Cash Equivalents, Restricted Cash and Short-Term Investments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Total cash, cash equivalents, restricted cash and short-term investments	$ 376,600	$ 376,600	$ 466,078
Available-for-sale debt securities	376,600	376,600	446,900
Total held to maturity securities at amortized cost			19,228
Interest receivable	700	700	$ 100
Unrealized gains on available-for-sale securities	$ 300	$ (700)

Cash, Cash Equivalents, Restr_4

Cash, Cash Equivalents, Restricted Cash and Short-Term Investments - Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
Amortized Cost	$ 377,366	$ 446,897
Unrealized Gains	4	0
Unrealized Losses	(726)	(47)
Estimated Fair Value	376,644	446,850
Total held to maturity securities at amortized cost		19,228
Total cash, cash equivalents, restricted cash and short-term investments	376,600	466,078
Cash, cash equivalents and restricted cash
Marketable Securities [Line Items]
Amortized Cost	86,052	231,900
Unrealized Gains	0	0
Unrealized Losses	0	0
Estimated Fair Value	86,052	231,900
Certificates of deposit
Marketable Securities [Line Items]
Amortized Cost	4,900	3,144
Unrealized Gains	4	0
Unrealized Losses	0	(4)
Estimated Fair Value	4,904	3,140
Corporate bond
Marketable Securities [Line Items]
Amortized Cost	98,448	2,592
Unrealized Gains	0	0
Unrealized Losses	(380)	(1)
Estimated Fair Value	98,068	2,591
Commercial paper
Marketable Securities [Line Items]
Amortized Cost	112,833	206,764
Unrealized Gains	0	0
Unrealized Losses	(200)	(40)
Estimated Fair Value	112,633	206,724
Treasury bill
Marketable Securities [Line Items]
Amortized Cost	26,721	2,497
Unrealized Gains	0	0
Unrealized Losses	(17)	(2)
Estimated Fair Value	26,704	$ 2,495
Treasury bond
Marketable Securities [Line Items]
Amortized Cost	44,670
Unrealized Gains	0
Unrealized Losses	(117)
Estimated Fair Value	44,553
Yankee bond
Marketable Securities [Line Items]
Amortized Cost	3,742
Unrealized Gains	0
Unrealized Losses	(12)
Estimated Fair Value	$ 3,730

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods inventories	$ 2,700
Raw materials	2,217	$ 2,217
Work in process	20,150	12,566
Finished goods	2,953	4,543
Total inventories	$ 25,320	$ 19,326

Prepaid Expenses (Details)

Prepaid Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid assets	$ 5,725	$ 5,316
Prepaid deposits	3,582	4,762
Prepaid insurance	2,852	1,632
Prepaid expenses	$ 12,159	$ 11,710

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 19,472	$ 19,470
Accumulated Amortization	(12,633)	(11,066)
Net Carrying Amount	6,839	8,404
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,473	1,471
Accumulated Amortization	(1,249)	(1,176)
Net Carrying Amount	224	295
Acquired intellectual property and reacquired rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	15,126	15,126
Accumulated Amortization	(9,580)	(8,804)
Net Carrying Amount	5,546	6,322
Internal-use software implementation costs
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	2,873	2,873
Accumulated Amortization	(1,804)	(1,086)
Net Carrying Amount	$ 1,069	$ 1,787

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 0.5	$ 0.5	$ 1.6	$ 1.6

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 5,067	$ 5,254
Less accumulated depreciation	(1,309)	(836)
Property and equipment, net	3,758	4,418
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	217	393
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,978	2,978
Office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	645	645
Furniture
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	976	976
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 251	$ 262

Lease Obligations - Narrative (

Lease Obligations - Narrative (Details) $ in Thousands, SFr in Millions

1 Months Ended

3 Months Ended

9 Months Ended

Aug. 03, 2022 USD ($)

Dec. 31, 2021 USD ($)

Feb. 28, 2021 USD ($)

Feb. 28, 2021 CHF (SFr)

Jan. 31, 2021 CHF (SFr)

Mar. 31, 2020 ft² extension_option

Sep. 30, 2022 USD ($)

Sep. 30, 2021 USD ($)

Sep. 30, 2022 USD ($)

Sep. 30, 2021 USD ($)

Dec. 31, 2020

Mar. 12, 2020

Lessee, Lease, Description [Line Items]

Capital expenditure payments

$ 11,800

SFr 10.5

Right-of-use assets, net

$ 5,383

$ 4,945

$ 4,945

Total lease liabilities

$ 8,188

$ 8,188

Incremental borrowing rate

5.22%

5.22%

Operating lease costs

$ 200

$ 200

$ 800

$ 800

Payments for capital improvements | SFr

SFr 21

Minimum finance lease liability payments due

73,000

73,000

Expected payments prior to commencement of lease

900

900

Future value of minimum lease payments of leases not yet commenced

100

100

Victoria, British Columbia

Lessee, Lease, Description [Line Items]

Lease term

18 months

Capital expenditure payments

$ 300

Rockville, Maryland

Lessee, Lease, Description [Line Items]

Lease term

11 years

Area of property (in sqft) | ft²

30,531

Remaining lease term

9 years

Number of extension options | extension_option

2

Lease extension term

5 years

Lease termination option term

7 years

Right-of-use assets, net

5,200

4,900

4,900

Total lease liabilities

8,600

$ 8,200

$ 8,200

Proceeds from tenant improvements

$ 2,300

Incremental borrowing rate

5.20%

Lease Obligations - Summary of

Lease Obligations - Summary of Components of Leasing Costs and Rent (Details)	Sep. 30, 2022
Leases [Abstract]
Weighted average remaining lease term - operating leases (in years)	8 years 10 months 24 days
Weighted average discount rate - operating leases	5.22%

Lease Obligations - Schedule of

Lease Obligations - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Leases [Abstract]
Remainder of 2022	$ 263
2023	1,061
2024	1,085
2025	1,110
2026	1,135
Thereafter	5,638
Total future minimum lease payments	10,292
Less: lease imputed interest	(2,104)
Total future minimum lease payments	$ 8,188

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Employee accruals	$ 16,511	$ 18,278
Commercial accruals	9,140	5,916
Accrued R&D projects	8,995	6,412
Other accrued liabilities	5,411	3,527
Income taxes payable	66	814
Accounts payable and accrued liabilities	$ 40,123	$ 34,947

Deferred Compensation and Oth_2

Deferred Compensation and Other Non-current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Other non-current liabilities	$ 15,833	$ 15,950

License and Collaboration Agr_2

License and Collaboration Agreement (Details) - USD ($) $ in Thousands			3 Months Ended			9 Months Ended
	Aug. 17, 2021	Dec. 17, 2020	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 15, 2022
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues			$ 55,779		$ 14,667	$ 105,595	$ 22,201
Research and development			10,973		20,066	35,118	39,990
Product Sales
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues			25,502		$ 14,638	75,142	$ 22,113
License Agreement Terms | Otuska
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Upfront payments received		$ 50,000
Potential regulatory milestone revenue		$ 50,000
Triggered milestone, payments								$ 30,000
License Agreement Terms | Otuska | Service Revenue
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues			$ 200			$ 400
License Agreement Terms | Otuska | Minimum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Tiered royalty percentages on future sales		10%
License Agreement Terms | Otuska | Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Tiered royalty percentages on future sales		20%
License Agreement Terms | Riptide Bioscience, Inc.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Upfront license fee	$ 6,000
Research and development				$ 4,000

Net Loss per Common Share - Sch

Net Loss per Common Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net loss	$ (8,989)	$ (50,255)	$ (82,134)	$ (147,644)
Weighted-average common shares outstanding used in computation of basic loss per share (in shares)	141,856	128,443	141,831	128,084
Weighted-average common shares outstanding used in computation of diluted loss per share (in shares)	141,856	128,443	141,831	128,084
Basic loss per share ($ per share)	$ (0.06)	$ (0.39)	$ (0.58)	$ (1.15)
Diluted loss per share ($ per share)	$ (0.06)	$ (0.39)	$ (0.58)	$ (1.15)

Net Loss per Common Share - Ant

Net Loss per Common Share - Anti-Dilutive Securities (Details) - shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	16,397,000	14,907,000
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	14,299,000	12,837,000
Unvested performance awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	857,000
Unvested restricted units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,098,000	201,000
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	1,012,000

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands				1 Months Ended	3 Months Ended			9 Months Ended		12 Months Ended
	Aug. 06, 2021 $ / shares shares	Mar. 18, 2021 $ / shares	Oct. 23, 2020 shares	Jun. 30, 2021 shares	Sep. 30, 2022 USD ($)	Jun. 30, 2022 purchase_period	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 purchase_period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $					$ 8,320		$ 7,092	$ 25,398	$ 22,666
Unrecognized share-based compensation expense | $					$ 33,600			$ 33,600
Unrecognized share-based compensation expense weighted average recognition period								1 year 4 months 24 days
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized				2,500,000
Number of purchase periods | purchase_period						2				4
Purchase period						12 months				24 months
Offering period						12 months		12 months
Share-based compensation expense | $								$ 475
Unamortized expense | $								$ 651
Unvested performance awards | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			439,000
Granted, weighted average exercise price (in usd per share) | $ / shares		$ 13.56
Performance Share sand Restricted Stock Units (RSUs) | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	619,000							2,311,000
Granted, weighted average exercise price (in usd per share) | $ / shares	$ 14.42							$ 11.26
Performance shares vested (in shares)								305,000
Shares forfeited/canceled (in shares)								255,000
Unvested restricted units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period								1 year
Amended and Restated Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized				23,800,000

Share-Based Compensation - Weig

Share-Based Compensation - Weighted Average Assumptions (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement [Abstract]
Annualized volatility(as percent)	70%	66%
Risk-free interest rate (as percent)	2.01%	0.38%
Expected life of options in years	5 years	4 years
Estimated forfeiture rate (as percent)	12.10%	8.90%
Dividend rate	$ 0	$ 0
Fair value per common share option (in usd per share)	$ 6.60	$ 6.64

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) - $ / shares shares in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Number of shares (in thousands)
Beginning balance (in shares)	12,074
Granted (in shares)	3,809
Exercised (in shares)	(77)
Forfeited (in shares)	(1,507)
Ending balance (in shares)	14,299
Weighted average exercise price $
Beginning balance (in usd per share)	$ 12.26	$ 12.84
Granted (in usd per share)	11.25
Exercised (in usd per share)	6.47
Forfeited (in usd per share)	14.63
Ending balance (in usd per share)	$ 12.26

Share-Based Compensation - Perf

Share-Based Compensation - Performance Awards and Restricted Stock Units Activity (Details) - Performance Share sand Restricted Stock Units (RSUs) - Officer - $ / shares shares in Thousands		9 Months Ended
	Aug. 06, 2021	Sep. 30, 2022
Number of shares (in thousands)
Outstanding - Beginning of Period (in shares)		347
Granted (in shares)	619	2,311
Performance shares vested (in shares)		(305)
Performance shares forfeited (in shares)		(255)
Outstanding - End of Period (in shares)		2,098
Weighted average exercise price $
Outstanding, Weighted average exercise price - Beginning of Period (in usd per share)		$ 13.33
Performance shares awards, weighted average grant date fair value (in usd per share)	$ 14.42	11.26
Performance shares vested, Weighted average grant date fair value (in usd per share)		14.17
Performance share forfeited, Weighted average exercise price (in usd per share)		12.39
Outstanding, Weighted average exercise price - End of Period (in usd per share)		$ 11.04

Share-Based Compensation - Allo

Share-Based Compensation - Allocated Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 8,320	$ 7,092	$ 25,398	$ 22,666
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,489	1,038	3,531	3,201
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	6,625	6,000	21,480	19,189
Capitalized under inventories
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 206	$ 54	$ 387	$ 276

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ 954	$ 8	$ 973	$ 34

Related-Party Transactions (Det

Related-Party Transactions (Details) - ILJIN - USD ($)	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2022
Other Current Liabilities
Related Party Transaction [Line Items]
Due to related parties	$ 0	$ 0
Milestone Payment | Affiliated Shareholder
Related Party Transaction [Line Items]
Payments to related party	$ 6,000,000

Subsequent Events (Details)

Subsequent Events (Details)		9 Months Ended
	Sep. 30, 2022 employee $ / shares shares	Sep. 30, 2022 $ / shares shares
Subsequent Event [Line Items]
Granted (in shares)		3,809,000
Granted (in usd per share) | $ / shares		$ 11.25
New Employees
Subsequent Event [Line Items]
Number of new employees | employee	4
New Employees | Inducement Stock Option
Subsequent Event [Line Items]
Granted (in shares)	20,800
Granted (in usd per share) | $ / shares	$ 7.52
New Employees | Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Granted (in shares)	12,500