Aurinia Pharmaceuticals (NASDAQ:AUPH) is up 4% after hours on robust volume in response to its announcement that it has inked a license agreement with Merck Animal Health granting it global rights to develop and commercialize voclosporin ophthalmic solution (VOS) for the treatment of dogs with dry eye syndrome.
Under the terms of the agreement, Aurinia will receive an upfront payment, milestones and royalties on net sales. Merck Animal will be responsible for all remaining clinical development related to VOS in animal health. Aurinia retains all rights for human uses. Specific financial terms are not disclosed.