Oruka Therapeutics (ORKA) Company Report

Oruka Therapeutics is focused on advancing the standard of care in psoriatic disease with two co-lead extended half-life monoclonal antibodies, ORCA-001 and ORCA-002, aiming for improved product profiles including longer dose intervals.
ORCA-001, which targets IL-23p19, is in Phase 2 development, with Phase 1 data demonstrating a 100-day half-life in humans. Data from the Phase 2A study (Everlast A) is anticipated in the second half of 2026.
ORCA-002, which targets IL-17A/F, is in Phase 1, with a readout expected around year-end 2025. The company aims for a 75-day half-life to enable twice-yearly dosing.
The company is well-capitalized with over $500 million in cash on the balance sheet, providing runway through multiple significant inflection points, including upcoming Phase 2 readouts.

Nov 11, 2025, 9:40 PM

Oruka Therapeutics Announces $180 Million Private Placement

ORKA

Convertible Preferred Issuance

New Projects/Investments

Oruka Therapeutics announced a $180 million private placement (PIPE financing) led by Viking Global Investors.
The financing involved the sale of 10,933,405 shares of common stock at a purchase price of $15.00 per share and pre-funded warrants to purchase 1,066,666 shares at a price of $14.999 per pre-funded warrant. The closing of the Private Placement occurred on September 19, 2025.
The company intends to use the net proceeds for research and development, general corporate expenses, and working capital needs. Oruka expects its cash to fund operations for at least one year following ORKA-002 Phase 2 and ORKA-001 EVERLAST-B Phase 2b data readouts in 2027.
Following the transaction, approximately 67.1 million shares of the Company’s Common Stock and Common Stock equivalents will be issued and outstanding.

Sep 22, 2025, 8:26 PM

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