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Oruka Therapeutics (ORKA) investor relations material
Oruka Therapeutics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary12 Nov, 2025
Executive summary
Clinical-stage biopharma focused on monoclonal antibody therapeutics for psoriasis and other inflammatory diseases, with lead programs ORKA-001 (IL-23p19) and ORKA-002 (IL-17A/F) advancing through clinical trials.
Released first clinical data for ORKA-001, showing potential for once-yearly dosing and higher efficacy in plaque psoriasis.
No product revenue to date; operations funded by equity, convertible notes, and PIPE financings, with significant R&D and G&A investments.
Net losses of $30.3M for Q3 2025 and $75.9M for the nine months ended September 30, 2025; cash, cash equivalents, and marketable securities of $500.9M as of September 30, 2025.
Completed $180M PIPE financing, extending cash runway over one year past three major Phase 2 readouts.
Financial highlights
Q3 2025 operating expenses: $34.1M (R&D $29.0M, G&A $5.1M), up 16% year-over-year.
Net loss for Q3 2025: $30.3M, up 6% year-over-year; net loss for nine months: $75.9M, up 31% from prior period.
Interest income for Q3 2025: $3.8M; no interest expense in Q3 2025.
Cash used in operations for nine months: $65.6M; net cash provided by financing activities: $170.0M.
Non-cash stock-based compensation was $10.2M in Q3 2025, up from $9.0M in Q3 2024.
Outlook and guidance
Cash position expected to fund operations for at least twelve months from the reporting date, extending over one year past three key Phase 2 clinical readouts.
Anticipates continued substantial losses as R&D and G&A expenses increase with clinical development and pipeline expansion.
Plans to initiate Phase 2b trial for ORKA-001 and Phase 2 trial for ORKA-002 in 2026; interim data for ORKA-002 expected around year-end 2025.
What ORKA-001 half-life data means for pipeline?
Future capital raise strategy given R&D spend?
WuXi Biologics/BIOSECURE Act mitigation plans?
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Next Oruka Therapeutics earnings date
Q4 20256 Mar, 2026
Next Oruka Therapeutics earnings date
Q4 20256 Mar, 2026
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Oruka Therapeutics Inc. is a biopharmaceutical company focused on developing innovative treatments for various medical conditions. The company specializes in research and development activities, aiming to address unmet medical needs through advanced therapeutic solutions. Oruka Therapeutics operates within the healthcare sector, leveraging cutting-edge technologies to create potential treatments for patients worldwide. The company is headquartered in Westminster, Colorado, and its shares are listed on the Nasdaq.
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