Oruka Therapeutics (ORKA) Company Report

Oruka Therapeutics is developing two extended half-life monoclonal antibodies, ORKA-001 (IL-23p19) and ORKA-002 (IL-17A/F), to address the approximately $30 billion psoriatic disease market.
ORKA-001 is in Phase II studies (EVERLAST A and B) for plaque psoriasis, with data from the EVERLAST A portion expected in the second half of 2026, aiming for potential once-yearly dosing and off-treatment remission.
ORKA-002 recently read out Phase I data (published 2026-01-15) showing a 75-80-day half-life, with plans to initiate Phase II studies in psoriasis in the first half of 2026 and in hidradenitis suppurativa (HS) in the second half of 2026, targeting twice-yearly dosing in psoriasis and quarterly dosing in HS.
The company is well-funded with over $500 million in cash, providing runway through readouts from all current and planned studies plus an additional year beyond.

10 hours ago

Oruka Therapeutics Outlines 2026 Clinical Milestones and Pipeline Progress

ORKA

New Projects/Investments

Guidance Update

Oruka Therapeutics is advancing two co-lead programs, Orka One (IL-23 inhibitor) and Orka Two (IL-17A/F inhibitor), focused on psoriatic disease, which is an approximately $30 billion market.
Orka One has demonstrated a 100-day half-life and is currently in Phase 2 studies for plaque psoriasis, with data from the EVERLAST A portion expected in the second half of 2026.
Orka Two recently reported Phase 1 data showing a 75-80-day half-life, and the company plans to initiate Phase 2 studies in plaque psoriasis and hidradenitis suppurativa (HS).
Both programs aim for ultra-long dosing intervals, with Orka One potentially enabling once-yearly dosing and Orka Two twice-yearly dosing in psoriasis.
Oruka Therapeutics is well-funded, having disclosed over $500 million in cash at its last disclosure, which provides runway beyond upcoming study readouts.

11 hours ago

Oruka Therapeutics Provides Update on Psoriatic Disease Pipeline and 2026 Milestones

ORKA

New Projects/Investments

Oruka Therapeutics is advancing two co-lead programs, Orka One (IL23P19) and Orka Two (IL17AF), for psoriatic disease and associated inflammatory conditions.
Orka One is in Phase 2 studies for plaque psoriasis, with data from EVERLAST A expected in the second half of 2026. It has a 100-day half-life and aims for once-yearly dosing and potential off-treatment remission.
Orka Two recently read out Phase 1 data (January 2026) showing a 75-80-day half-life, supporting twice-a-year dosing in psoriasis and quarterly dosing in HS. Phase 2 studies are planned for 2026.
The company is well-funded with over $500 million in cash, providing runway through all upcoming study readouts and an additional year beyond.
Oruka believes its ultra-long dosing intervals and potential for improved efficacy could lead to multi-billion-dollar potential for each product in the $30 billion psoriatic disease market.

12 hours ago

Oruka Provides Update on Clinical Pipeline and Financial Runway

ORKA

New Projects/Investments

Guidance Update

Oruka is advancing two co-lead programs, ORKA-001 (IL-23p19) and ORKA-002 (IL-17A/F), designed for extended half-lives to enable less frequent dosing for chronic skin conditions.
ORKA-001 demonstrated a ~100-day half-life in Phase 1, with Phase 2a (EVERLAST-A) efficacy data expected in 2H 2026, and Phase 2b (EVERLAST-B) initiated in December 2025 with data expected in 2027.
ORKA-002 showed a 75-80 day half-life in Phase 1, with Phase 2 initiation (ORCA-SURGE) in PsO expected in 1H 2026 and in HS in 2H 2026.
The company maintains a strong cash position, providing a runway for over one year beyond the three major readouts for EVERLAST-A (2H 2026), EVERLAST-B (2027), and ORCA-SURGE (2027).
As of September 30, 2025, Oruka's total outstanding shares and equivalents were 67.1 million.

4 days ago

Oruka Therapeutics Provides Update on Psoriatic Disease Pipeline and Financial Position

ORKA

New Projects/Investments

Guidance Update

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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