From GlobeNewswire: 2025-03-06 16:09:00

Oruka Therapeutics, Inc. reported successful financial results for 2024, raising over $475 million and maintaining $394 million in cash, cash equivalents, and securities by year-end. ORKA-001, targeting IL-23p19, is in Phase 1 with PK data expected in 2H 2025, while Phase 2a initiation is anticipated in 2H 2025. ORKA-002, targeting IL-17A/F, will present preclinical data at the 2025 AAD Meeting with Phase 1 initiation expected in Q3 2025.

ORKA-001’s Phase 1 trial began early in December 2024, with a Phase 2a proof-of-concept study planned for 2H 2025. The study aims to enroll 80 patients with moderate-to-severe psoriasis, with efficacy readout in 2H 2026. ORKA-002 is set to start Phase 1 in Q3 2025, with preclinical data to be presented at the AAD Meeting.

Oruka’s go-public transaction raised over $475 million in 2024, securing funding through 2027. The company has disclosed a new program, ORKA-021, and plans to reveal more details on ORKA-003 in 1H 2025. Oruka is advancing a proprietary portfolio of antibodies engineered by Paragon Therapeutics to target chronic skin diseases.

Financially, Oruka reported $393.7 million in cash, cash equivalents, and marketable securities by December 31, 2024. R&D expenses totaled $25.5 million for Q4 2024, with G&A expenses at $4.8 million. Net loss was $25.8 million in Q4 2024, with approximately 55.1 million shares outstanding.

Oruka Therapeutics aims to set a new standard in treating chronic skin diseases like plaque psoriasis. With a focus on developing best-in-class antibodies, the company is dedicated to offering patients high rates of disease clearance with infrequent dosing. Oruka’s pipeline includes ORKA-001 and ORKA-002, designed to target the core mechanisms underlying psoriasis and other dermatologic diseases.



Read more at GlobeNewswire:: Oruka Therapeutics Reports Fourth Quarter and Full Year