Every 10-Q that Oruka Therapeutics, Inc. (ORKA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow ORKA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ORKA filings page.
Oruka Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing novel monoclonal antibody therapies for psoriasis and other inflammatory and immunology diseases. It reported a net loss of $41.2 million for the quarter and $73.0 million for the six months ended June 30, 2026, driven by rising research and development spending as multiple programs advance.
Quarterly research and development expense was $43.3 million, with general and administrative expense of $6.9 million. The company strengthened its balance sheet via an April 2026 underwritten offering raising $658.3 million net and ATM sales adding $38.9 million, boosting cash, cash equivalents and marketable securities to about $1.1 billion and total assets to $1.14 billion
Management expects these resources to fund operations for at least twelve months. Oruka’s lead IL‑23p19 antibody ORKA‑001 is in Phase 2a and 2b psoriasis trials, with Week 16 data from EVERLAST‑A showing 63.5% PASI 100 responders. IL‑17A/F antibody ORKA‑002 completed a Phase 1 trial and entered Phase 2 psoriasis and hidradenitis suppurativa studies, while TL1A antibody ORKA‑004 is planned to enter the clinic in late 2026.
Oruka Therapeutics, Inc. reported a net loss of $31.8 million for the three months ended March 31, 2026, reflecting increased investment in its psoriasis and inflammatory disease pipeline. Research and development expenses rose to $29.1 million and general and administrative expenses to $7.3 million, driven by higher clinical activity, headcount and stock-based compensation.
The company held $496.0 million in cash, cash equivalents and marketable securities as of March 31, 2026 and later strengthened liquidity with $38.9 million of at-the-market share sales and a subsequent underwritten offering raising gross proceeds of $700.4 million. Lead antibodies ORKA-001 and ORKA-002 advanced through Phase 1 and Phase 2 studies, with ORKA-001 showing high rates of complete skin clearance in psoriasis and ORKA-002 moving into mid-stage trials in psoriasis and planned trials in hidradenitis suppurativa.
Oruka Therapeutics reported a third‑quarter net loss of $30.277 million as it advanced clinical programs in psoriasis and other I&I indications. Operating expenses were $34.105 million, driven by $28.988 million in R&D and $5.117 million in G&A. Interest income of $3.832 million partially offset expenses. Basic and diluted net loss per common share was $0.55.
Liquidity strengthened: as of September 30, 2025, cash, cash equivalents, and marketable securities totaled $500.9 million. Management expects this balance to fund operating plans for at least twelve months from issuance of the financial statements.
Financing activity included a 2025 PIPE of 10,933,405 common shares at $15.00 and 1,066,666 pre‑funded warrants at $14.999, for net proceeds of approximately $169.6 million. On October 3, 2025, the company established an ATM program permitting sales of up to $200.0 million of common stock. Program spend included milestone expenses, such as $3.0 million for ORKA‑001 upon first dosing in a Phase 2 trial and earlier‑year milestones for ORKA‑002.
Oruka Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing monoclonal antibodies for psoriasis and inflammatory diseases. As of June 30, 2025 the company reported $65.4 million in cash, $286.1 million in marketable securities (totaling $351.5 million), total assets of $357.4 million and stockholders' equity of $343.6 million. For the three and six months ended June 30, 2025 the company recorded net losses of $24.6 million and $45.6 million, respectively, and used $44.0 million of cash in operating activities during the first half of 2025. Research and development was the primary expense, totaling $44.0 million for six months.
The company advanced its pipeline: ORKA-001 (anti-IL-23p19) completed Phase 1 dosing in healthy volunteers, received FDA IND and Health Canada CTA clearances and commenced Phase 2a dosing with the first patient dosed subsequent to the quarter end; ORKA-002 (anti-IL-17A/F) initiated Phase 1 dosing. Oruka holds exclusive licenses with Paragon that include milestone payments (up to $12.0 million clinical and $10.0 million regulatory per program) and low single-digit royalties; it has expensed $4.0 million for each license. Management expects existing cash, cash equivalents and marketable securities to fund operating plans for at least twelve months from issuance of these financial statements.