Oruka Therapeutics Inc

Latest Results (14.11.2025):

Oruka Therapeutics Inc reported its Third Quarter 2025 financial results, highlighting robust liquidity with over $500 million in cash and cash equivalents and continued progress across its clinical pipeline. The company updated investors on key milestones, including promising interim Phase 1 results for ORKA-001 and ongoing trials for ORKA-002, while also noting increases in research and development and general administrative expenses.

Financial Strength

For Q3 2025, Oruka Therapeutics Inc reported available cash, cash equivalents, and marketable securities of $500.9 million. Net cash used in operating activities was $21.6 million, reflecting solid liquidity to support further clinical advancements and corporate initiatives.

Operating Expenses and Net Loss

R&D expenses increased to $29.0 million compared to $25.7 million in Q3 2024, largely due to employee and stock-based compensation costs. General and administrative expenses also rose to $5.1 million from $3.8 million year-over-year. The net loss for the quarter was $30.3 million, inclusive of significant non-cash stock-based compensation expenses.

Clinical Pipeline Progress

Oruka’s pipeline remains a central focus, with promising Phase 1 data for ORKA-001 demonstrating a favorable half-life and potential for once-yearly dosing. The company is actively enrolling patients for the Phase 2a trial (EVERLAST-A) and preparing for the Phase 2b trial (EVERLAST-B) in 2026. Meanwhile, the ORKA-002 program is advancing through Phase 1, with interim data expected by year-end 2025 and plans for Phase 2 initiation in early 2026.

Strategic Developments and Funding

The company successfully completed a $180M PIPE financing, further extending its cash runway beyond anticipated Phase 2 readouts. This infusion of funds underlines Oruka Therapeutics Inc’s commitment to its innovative biologics and long-term growth in treating chronic skin diseases such as plaque psoriasis.