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Oruka Therapeutics, Inc.

Oruka Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing novel monoclonal antibody therapeutics for psoriasis (PsO), and other inflammatory and immunology (I&I) indications. Its lead products include ORKA-001 that targets p19 subunit of interleukin-23, which is in phase 2a trial for the treatment of PsO; and ORKA-002 that targets interleukin-17A and interleukin-17F, which is in phase 2 trial for the treatment of PsO, psoriatic arthritis, and other conditions. The company also develops ORKA-003 for targeting an undisclosed pathway; and ORKA-021, a sequential combination regimen of ORKA-002 and ORKA-001. Oruka Therapeutics, Inc. is headquartered in Menlo Park, California.

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Oruka Q2 Net Loss Widens to $41.21 Million, Phase 2 EVERLAST-A Data Expected End of Q3 2026

Oruka Therapeutics reported a second-quarter 2026 net loss of $41.21 million, widening from $24.57 million a year earlier. The clinical-stage biotech, which is developing biologics for chronic skin diseases, held $1.1 billion in cash, cash equivalents, and marketable securities as of June 30, 2026, a sum it expects will fund operations through an anticipated BLA filing for lead candidate ORKA-001 and continued development of ORKA-002. The company said 28-week data from the Phase 2 EVERLAST-A trial of ORKA-001 in psoriasis is expected at the end of the third quarter of 2026, with 52-week data due in December 2026, while 16-week data from the Phase 2b EVERLAST-B dose-ranging trial is expected in the fourth quarter of 2026. For ORKA-002, week 16 data from the Phase 2 ORCA-SURGE trial in moderate-to-severe psoriasis is now anticipated in the first quarter of 2027, and the company plans to advance ORKA-004 into the clinic in the fourth quarter of 2026 with Phase 2 combination studies beginning in 2027.
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H.C. Wainwright Reaffirms Buy Rating on Oruka Therapeutics After AbbVie's Apogee Acquisition

H.C. Wainwright has reaffirmed its Buy rating on Oruka Therapeutics with a price target of $120. The update follows AbbVie's announcement that it has entered into a definitive agreement to acquire Apogee Therapeutics and its pipeline of clinical-stage candidates for inflammatory and immunological diseases. H.C. Wainwright noted that both Apogee and Oruka were created by privately-held Paragon Therapeutics and share a focus on developing treatments for inflammatory skin conditions.
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Oruka Therapeutics SVP Finance Arjun Agarwal Sold $687K in Stock After 450% Rally

Arjun Agarwal, Senior Vice President of Finance at Oruka Therapeutics, sold 9,854 shares of common stock for approximately $687,000 across June 12 and June 15, 2026, according to an SEC filing. The sales reduced his direct holdings by 36.83% to 16,899 shares, and were executed alongside the exercise of 9,459 options. At the time of the transactions, the stock had already surged roughly 450% over the prior year, and the rally later extended to nearly 700%. The company recently reported positive Phase 2 data for its lead candidate ORKA-001, with 63.5% of patients achieving complete skin clearance, and advanced ORKA-002 into a Phase 2 psoriasis trial.
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