ORKA Oruka Therapeutics, Inc.
Financings ·
TD Cowen is the sales agent for up to $500,000,000 of common stock under a sales agreement that sits inside a $1,000,000,000 shelf. The filing puts the outstanding count at 61,069,887 shares on June 30, 2026.
SILV Fund Ltd. replaces Point72 Associates, LLC for 531,670 shares. The resale prospectus still covers up to 39,425,806 shares, against 49,542,691 outstanding on February 28, 2026.
The company is selling 10,933,405 shares at $15.00 and pre-funded warrants for 1,066,666 more. Closing was expected on or about September 19, 2025.
A separate exhibit carries an audited balance sheet dated February 6, 2024, the company's inception. The auditor's report on it raises going-concern doubt.
Oruka Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel monoclonal antibody therapeutics for psoriasis (PsO) and other inflammatory and immunology (I&I) indications. Its strategy is to apply antibody engineering and format innovations to validated modes of action, with the aim of improving on the efficacy and dosing regimens of standard-of-care medicines. Its lead program, ORKA-001, is a high affinity, extended half-life antibody designed to target IL-23p19 for PsO. A Phase 1 trial showed a human half-life of approximately 100 days, and the Phase 2a EVERLAST-A trial in moderate-to-severe PsO enrolled 84 patients, with Week 16 data expected in the second quarter of 2026. The Phase 2b EVERLAST-B trial, designed to enroll approximately 160 patients, began dosing in December 2025, with data anticipated in 2027. Its co-lead program, ORKA-002, targets IL-17A and IL-17F for PsO, hidradenitis suppurativa (HS), psoriatic arthritis (PsA) and other conditions. Interim Phase 1 findings in healthy volunteers showed a half-life of approximately 75-80 days, and the Phase 2 ORCA-SURGE trial in moderate-to-severe PsO was initiated in February 2026. The company is the former ARCA biopharma, Inc., which changed its name to Oruka Therapeutics on August 29, 2024.
| Product or program | What it is | Stage |
|---|---|---|
| ORKA-001 | Extended half-life monoclonal antibody targeting IL-23p19 for psoriasis | Phase 2a (EVERLAST-A); Phase 2b EVERLAST-B dosing began December 2025 |
| ORKA-002 | Extended half-life antibody targeting IL-17A/F for PsO, HS, PsA and other conditions | Phase 2 (ORCA-SURGE) initiated; Phase 1 interim results reported |
| Line | FY2025 | FY2023 |
|---|---|---|
| Revenue | $0 | |
| Research and development | $100.6 million | $1.0 million |
| Net income (loss) | -$105.4 million | -$5.3 million |
| Cash from operations | -$88.2 million | -$5.0 million |
| Cash and equivalents | $46.9 million | $37.4 million |
| Short-term investments | $290.1 million |
Our latest story on this, dated Nov 13, 2024: "Oruka reports $410,875 thousand in cash at September 30, 2024". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Sep 22, 2025: "Oruka Therapeutics announces $180 million private placement led by Viking Global". The story links the filing or release it is based on. Read the story.
Oruka Therapeutics, Inc. trades under the ticker ORKA on NASDAQ.
Oruka Therapeutics, Inc. is listed on NASDAQ. Our directory also records these other listings: DUS:HQ1; FWB:HQ1; GETTEX:HQ1; HAM:HQ1; HAN:HQ1; LS:A3DPH3; LSX:A3DPH3; MUN:HQ1; SWB:HQ1; TRADEGATE:HQ1; XETR:HQ1.
The SEC Central Index Key (CIK) for Oruka Therapeutics, Inc. is 907654. Its filings are on SEC EDGAR.
66,209,699 shares as of 2026-07-31, per the cover page of its 10-Q filed 2026-08-10.
Our directory records Oruka Therapeutics, Inc. under United States.
Our directory classifies Oruka Therapeutics, Inc. as: Pharmaceuticals: Major. This is a directory classification, not a description of the pipeline.
The ISIN recorded for Oruka Therapeutics, Inc. is US6876041087.
aibio.space lists Oruka Therapeutics, Inc. among 2,820 public biotech companies and publishes its news here as stories appear.
SEC records list its state or country of incorporation as DE.
Oruka Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel monoclonal antibody therapeutics for psoriasis (PsO) and other inflammatory and immunology (I&I) indications. Its strategy is to apply antibody engineering and format innovations to validated modes of action, with the aim of improving on the efficacy and dosing regimens of standard-of-care medicines.
ORKA-001: Extended half-life monoclonal antibody targeting IL-23p19 for psoriasis Stage: Phase 2a (EVERLAST-A); Phase 2b EVERLAST-B dosing began December 2025.
ORKA-002: Extended half-life antibody targeting IL-17A/F for PsO, HS, PsA and other conditions Stage: Phase 2 (ORCA-SURGE) initiated; Phase 1 interim results reported.
Oruka Therapeutics, Inc. reported a net loss of $105.4 million for the fiscal year ended Dec 31, 2025, and used $88.2 million of cash in operations, per its annual report to the SEC.
Set up an at-the-market program to sell shares over time. SEC Form S-3. Source
Filed a final prospectus for a securities offering. SEC Form 424B7. Source
Set up an at-the-market program to sell shares over time. SEC Form S-3. Source
Set up an at-the-market program to sell shares over time. SEC Form 424B5. Source
Set up an at-the-market program to sell shares over time. SEC Form S-3. Source
Reported a financing. SEC Form 8-K (Items 1.01,3.02,7.01,9.01). Source
Reported substantial doubt about its ability to continue as a going concern. SEC Form 10-Q. Source
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