Business
Oruka Therapeutics Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate Update
ORKA-001, targeting IL-23p19, Phase 1 trial ongoing, with pharmacokinetic (PK) data expected in 2H 2025 ORKA-001 Phase 2a initiation expected in 2H 2025, with
About this update from Oruka Therapeutics, Inc.
[{"type":"text","content":"ORKA-001, targeting IL-23p19, Phase 1 trial ongoing, with pharmacokinetic (PK) data expected in 2H 2025 ORKA-001 Phase 2a initiation expected in 2H 2025, with efficacy readout in 2H 2026 that provides multiple opportunities to show differentiation over standard of care ORKA-002, targeting IL-17A/F, preclinical data to be presented at the 2025 AAD Annual Meeting; Phase 1 initiation expected in Q3 2025, with PK data in 1H 2026 Successful go-public transaction and over $475 million raised in 2024 $394 million of cash, cash equivalents, and marketable securities at year-end 2024, projected to fund company through 2027, over one year past anticipated ORKA-001 Phase 2a data in psoriasis MENLO PARK, Calif.,, March 06, 2025 (GLOBE NEWSWIRE) -- Oruka Therapeutics, Inc. (“Oruka”) (Nasdaq: ORKA), a clinical-stage biotechnology company developing novel biologics designed to set a new standard for the treatment of chronic skin diseases including plaque psoriasis, today reported fourth quarter and full year 2024 financial results and provided a corporate update. “We made tremendous progress in our first year as a company, including our successful public debut, raising over $475 million to fund the company through 2027, and advancing ORKA-001 into the clinic,” said Lawrence Klein, PhD, Chief Executive Officer of Oruka. “As we move into 2025, we are excited about the momentum ahead, with our first clinical data readout anticipated later this year as well as our plans to advance ORKA-002 into the clinic and ORKA-001 into Phase 2 development. Looking forward, we expect to deliver a clinical catalyst every six months, which could progressively establish ORKA-001 and ORKA-002 as the best treatment options in the incredibly important therapeutic area of psoriatic disease.” Fourth Quarter and Full Year Business and Pipeline Updates ORKA-001: a novel half-life extended IL-23p19 monoclonal antibody Oruka initiated a Phase 1 trial of ORKA-001 in December 2024, ahead of schedule. The trial is a double-blind, placebo-controlled, single ascending dose study evaluating the safety, tolerability, and pharmacokinetics (PK) of ORKA-001 in approximately 24 healthy volunteers. The Company expects to share interim data from this trial, including initial PK data, in the second half of 2025.Oruka plans to initiate a Phase 2a proof-of-concept study of ORKA-001 in the...