Oruka Therapeutics, Inc.
Business
Oruka Therapeutics is a clinical-stage biopharmaceutical company developing monoclonal antibody therapeutics for psoriasis and other inflammatory and immunology indications. The company's lead program, ORKA-001, targets IL-23p19 with extended half-life technology enabling infrequent dosing; its co-lead program, ORKA-002, targets IL-17A/F for psoriasis, hidradenitis suppurativa, and psoriatic arthritis. Oruka operates a focused development strategy in dermatologic and inflammatory diseases, with programs in clinical and preclinical stages. The company licenses its technology from Paragon Therapeutics and relies on contract manufacturers for drug supply.
Summary from 10-K filed 2026-03-12
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Research and development | 101 | 75 | 1 | 5 | 14 | |
| General and administrative | 21 | 13 | 6 | 6 | 6 | |
| Total operating expenses | 122 | 88 | 7 | 11 | 19 | |
| Loss from operations | −122 | −88 | −7 | −11 | −19 | |
| Interest income | 17 | 6 | — | — | — | |
| Interest expense | — | −1 | — | — | — | |
| Other income (expense), net | −12,000 | 4,000 | — | — | — | |
| Total other income, net | 17 | 4 | — | — | — | |
| Net loss | −105 | −84 | −5 | −10 | −19 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-01-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 47 | 62 | — | 37 | 42 | |
| Marketable securities, current | 290 | 314 | — | — | — | |
| Prepaid expenses and other current assets | 7 | 1 | — | — | — | |
| Total current assets | 344 | 377 | 1,000 | 38 | 43 | |
| Marketable securities, long-term | 143 | 18 | — | — | — | |
| Property and equipment, net | 288,000 | 162,000 | — | 10,000 | 25,000 | |
| Operating lease right-of-use assets | 2 | 876,000 | — | 247,000 | 343,000 | |
| Other non-current assets | 103,000 | 43,000 | — | 12,000 | 18,000 | |
| Total assets | 489 | 396 | 1,000 | 38 | 43 | |
| Accounts payable | 4 | 3 | — | — | — | |
| Accrued expenses and other current liabilities | 11 | 3 | — | — | — | |
| Operating lease liability, current | 619,000 | 213,000 | — | — | — | |
| Total current liabilities | 15 | 13 | — | 637,000 | 1 | |
| Operating lease liability, non-current | 1 | 755,000 | — | 204,000 | 280,000 | |
| Total liabilities | 17 | 14 | — | 841,000 | 1 | |
| Commitments and contingencies (Note 15) | — | — | — | — | — | |
| Common stock, $0.001 par value as of December 31, 2025 and 2024; 545,000,000 shares authorized as of December 31, 2025 and 2024, 48,722,309 and 37,440,510 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 49,000 | 37,000 | — | 14,000 | 14,000 | |
| Additional paid-in capital | 658 | 463 | 1,000 | — | — | |
| Accumulated other comprehensive income (loss) | 546,000 | −41,000 | — | — | — | |
| Accumulated deficit | −189 | −84 | — | −189 | −183 | |
| Total stockholders equity | 472 | 382 | 1,000 | 37 | 42 | |
| Total liabilities and stockholders equity | 489 | 396 | 1,000 | 38 | 43 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation expense | 24 | 15 | 686,000 | 556,000 | 497,000 | |
| Net accretion of premiums and discounts on marketable securities | −5 | −2 | — | — | — | |
| Non-cash interest expense | — | 1 | — | — | — | |
| Non-cash lease expense | 458,000 | 127,000 | — | — | — | |
| Depreciation expense | 83,000 | 27,000 | — | — | — | |
| Prepaid expenses and other current assets | −4 | −1 | — | — | — | |
| Other non-current assets | −60,000 | −43,000 | 6,000 | 0 | −6,000 | |
| Accounts payable | 693,000 | 3 | — | — | — | |
| Accrued expenses and other current liabilities | 7 | 3 | −526,000 | −934,000 | 435,000 | |
| Operating lease liability | −448,000 | −14,000 | — | — | — | |
| Related party accounts payable and other current liabilities | −6 | 6 | — | — | — | |
| Net cash used in operating activities | −88 | −58 | −5 | −11 | −19 | |
| Purchases of property and equipment | −209,000 | −189,000 | 0 | −2,000 | −43,000 | |
| Purchases of marketable securities | −521 | −330 | — | — | — | |
| Proceeds from maturities of marketable securities | 424 | — | — | — | — | |
| Net cash used in investing activities | −97 | −330 | 0 | −2,000 | −43,000 | |
| Proceeds from issuance of Pre-Merger Oruka Series A Preferred Stock, net of issuance costs paid | — | 3 | — | — | — | |
| Proceeds from issuance of notes payable to related party, net of issuance costs paid | — | 25 | — | — | — | |
| Proceeds from the Pre-Closing Financing, net | — | 228 | — | — | — | |
| Proceeds from the PIPE Financings, net | 170 | 189 | — | — | — | |
| Cash acquired in connection with the reverse recapitalization | — | 5 | — | — | — | |
| Proceeds from issuance of common stock upon exercise of stock options and employee warrants and purchases under employee stock purchase plan | 671,000 | 54,000 | — | — | 24 | |
| Net cash provided by financing activities | 170 | 450 | 0 | 0 | 23 | |
| Net (decrease) increase in cash and cash equivalents | −15 | 62 | — | — | — | |
| Operating lease liability arising from obtaining operating right-of-use asset | 1 | 982,000 | — | — | 84,000 | |
| Assets acquired in connection with the reverse recapitalization | — | 114,000 | — | — | — | |
| Other liabilities assumed in connection with the reverse recapitalization | — | −54,000 | — | — | — | |
| Non-cash accrued interest on convertible note converted to common stock | — | 1 | — | — | — | |
| Non-cash exchange of Pre-Merger Oruka Series A Preferred Stock for Company Series B Convertible Preferred Stock | — | 3 | — | — | — | |
| Conversion of Series A non-voting convertible preferred stock to common stock | — | 53 | — | — | — | |
| Reclassification of the Paruka warrant from liability to equity | 10 | 10 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Oruka Therapeutics, Inc.'s CIK number?
Oruka Therapeutics, Inc.'s SEC CIK number is 0000907654 (907654). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Oruka Therapeutics, Inc.'s SEC filings?
All of Oruka Therapeutics, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Oruka Therapeutics, Inc. last report earnings?
Oruka Therapeutics, Inc. (ORKA) most recently filed an earnings 8-K with the SEC on Apr 30, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001213900-26-050249). This is Oruka Therapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Oruka Therapeutics, Inc.'s most recent earnings 8-K?
Oruka Therapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed Apr 30, 2026 under accession 0001213900-26-050249. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Oruka Therapeutics, Inc.'s latest earnings 8-K →
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