Aurinia Pharmaceuticals (NASDAQ: AUPH), a company focused on developing treatments for autoimmune diseases, saw its share price fall by more than 5% in early trading on Monday. Aurinia Pharmaceuticals has been the subject of takeover speculation since it got the green light from the Food and Drug Administration (FDA) for its lupus nephritis drug, Lupkynis, in January 2021. In a market that seems to be growing increasingly more cautious toward pure-play growth stocks, it's not entirely surprising to see Aurinia Pharmaceuticals shed some of its premium valuation — especially with a lack of additional buyout rumors recently.
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