Is this the next big Biotech play? A company that everyone is currently overlooking. $AUPH

**Is anyone else looking at Aurinia Pharmaceuticals (AUPH)? What am I missing?**
I’ve been digging into Aurinia over the past week, and honestly, I’m surprised it isn’t discussed more often.
Here’s why it caught my attention:
The company is already profitable, which is pretty rare for a biotech of this size.
Revenue is still growing at a healthy pace, and they continue to generate positive cash flow.
They have around **$379M in cash**, so they don’t seem to be in a position where they’ll need to dilute shareholders anytime soon.
They’re even buying back shares.
The thing that really stood out to me, though, is CEO Kevin Tang.
He doesn’t take a salary or bonus and already owns an enormous amount of stock. Instead of getting paid like most CEOs, he’s continued buying more shares. That level of alignment with shareholders is something you don’t see very often.
The obvious downside is that the company is still heavily dependent on **LUPKYNIS**. If sales disappoint or competition becomes an issue, that would clearly hurt the investment case.
Still, at around **15–16 USD** per share and a **P/E of roughly 7**, the valuation looks surprisingly low to me for a profitable company with revenue growth and a strong balance sheet.
So I’m wondering…
**What am I missing?**
Is there a major risk the market is pricing in that I’m overlooking?
I’d really appreciate hearing the bear case just as much as the bull case before I decide whether to make this a larger position.