**Oruka Therapeutics Reports Financial Results and Operational Progress in Latest 10-K Filing**
Oruka Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on developing novel monoclonal antibody therapeutics for psoriasis and other inflammatory and immunology indications, filed its 10-K report, detailing its financial performance and operational developments. The company reported a net loss of $105.4 million for the year ended December 31, 2025, compared to a net loss of $83.7 million for the period from February 6, 2024 (inception) to December 31, 2024. Research and development expenses totaled $100.6 million in 2025, up from $75.1 million in the prior period, reflecting increased investment in its lead programs, ORKA-001 and ORKA-002. General and administrative expenses also increased, reaching $21.4 million in 2025 compared to $13.1 million in the prior period, driven by higher personnel-related costs and professional fees.
The company's strategic focus remains on advancing its two lead programs. ORKA-001, targeting IL-23p19 for psoriasis treatment, is currently in Phase 2a and Phase 2b clinical trials, with data expected in 2026 and 2027, respectively. ORKA-002, targeting IL-17A/F for psoriasis and other indications, is in Phase 2 trials, with data anticipated in 2027. The company also plans to initiate a Phase 2 trial of ORKA-002 in patients with hidradenitis suppurativa in the second half of 2026. These programs leverage antibody engineering and half-life extension technology to improve efficacy and dosing convenience.
Key operational developments included the initiation of Phase 2a and Phase 2b clinical trials for ORKA-001 and a Phase 2 trial for ORKA-002. Interim results from the Phase 1 trial of ORKA-001 showed a human half-life of approximately 100 days, while Phase 1 data for ORKA-002 indicated a half-life of 75-80 days. These findings support the potential for less frequent dosing regimens. As of December 31, 2025, Oruka Therapeutics had 68 full-time employees, with 51 dedicated to research and development.
Looking ahead, Oruka Therapeutics anticipates continued investment in research and development, particularly in clinical trials and manufacturing. The company expects its existing cash, cash equivalents, and marketable securities of $479.6 million as of December 31, 2025, will be sufficient to fund its operating plans for at least the next twelve months. The company's strategy involves pursuing opportunities with strong prospects of yielding meaningful new medicines and building a preeminent biopharmaceutical company focused on chronic skin disease and other I&I indications.
About Oruka Therapeutics, Inc.
Oruka Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative monoclonal antibody therapies for psoriasis and other inflammatory conditions. Its lead products, ORKA-001 and ORKA-002, target IL-23 and IL-17 cytokines, respectively, aiming to improve efficacy and reduce dosing frequency. With a significant market opportunity in the $25 billion psoriasis market, Oruka is positioned to address unmet needs through advanced antibody engineering and strategic partnerships.
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