(RTTNews) - Oruka Therapeutics, Inc. (ORKA), a clinical-stage biotechnology company that develops biologics for the treatment of chronic skin diseases, reported second-quarter 2026 financial results reflecting a wider net loss and provided a corporate update for its investigational pipeline.

Oruka Therapeutics focuses on chronic skin diseases including plaque psoriasis (PsO) and hidradenitis suppurativa (HS).

The company's lead investigational programs in Phase 2 trials are ORKA-001, a monoclonal antibody designed to inhibit IL-23p19 for the treatment of psoriasis, and ORKA-002, a monoclonal antibody designed to inhibit IL-17A/F for the treatment of psoriasis, psoriatic arthritis, and other conditions.

The company's development pipeline also includes ORKA-004, designed to inhibit TL1A, to be pursued in combination with ORKA-001 and ORKA-002 for evaluation.

For the second quarter of 2026, Oruka's net loss expanded to $41.21 million from $24.57 million in the prior year.

As of June 30, 2026, Oruka had cash, cash equivalents, and marketable securities of $1.1 billion and expects that to be sufficient to fund operations through an anticipated BLA filing for ORKA-001 and continued development of ORKA-002.

For ORKA-001 in evaluation for psoriasis, phase 2 EVERLAST-A 28-week data is expected at the end of the third quarter of 2026, and 52-week data is expected in December 2026.

For Phase 2b EVERLAST-B, a dose-ranging trial in moderate-to-severe PsO, enrolment is complete and 16-week data is expected in the fourth quarter of 2026.

If everything goes well in Phase 2 trials of ORKA-001, the company expects to begin a phase 3 program for ORKA-001 in the first half of 2027.

For ORKA-002, the company now expects to report week 16 data from ORCA-SURGE, a phase 2 trial in moderate-to-severe PsO, in the first quarter of 2027.

For ORKA-004, the company plans to pursue ORKA-004 in combination with ORKA-001 and ORKA-002, and expects to enter the clinic in the fourth quarter of 2026, with phase 2 combination studies planned to begin in 2027.

Wedbush analysts recently reiterated Oruka at an Outperform rating with a 12-month Price Target of $165

We alerted readers to ORKA on May 15 2025, when it was at $63.90.

ORKA has traded between $13.06 and $105.31 over the last year. The stock closed Monday's trade at $105.14, up 6.40%.

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