{"filings":[{"id":2438716,"accession_number":"0001213900-26-093021","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2026-08-24T20:06:13+00:00","items":["5.02","9.01"],"status":"ready","headline":"Oruka names Todd Edwards Chief Commercial Officer, eff. Aug 24 2026","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Todd Edwards, ex-CCO of Arcutis Biotech, starts as Oruka's Chief Commercial Officer on Aug 24, 2026, reporting to CEO.","Annual base salary $525,000; target bonus 40% of base; $200,000 signing bonus repayable prorated if resignation within 1 year.","Equity grant: 20,000 options + 100,000 RSUs; options vest 25% at 1yr then monthly over 36mo, RSUs quarterly.","Severance: 12 months base salary outside CIC; within CIC 1.0x (base+target) plus full acceleration of time-based equity."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":2144202,"accession_number":"0001213900-26-086933","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2026-08-10T11:00:41+00:00","items":["2.02","9.01"],"status":"ready","headline":"Oruka Q2 net loss $41.2M; EVERLAST-A 63.5% PASI 100; cash $1.1B","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q2 2026 net loss $41.2M vs $24.6M in Q2 2025; R&D spend $43.3M; cash $1.1B funds through BLA filing.","EVERLAST-A Phase 2a: 40/63 (63.5%) achieved PASI 100 at Week 16; PASI 90 83%; IGA 0/1 84%.","EVERLAST-B fully enrolled (187 subjects); Week 16 data expected Q4 2026; Phase 3 for ORKA-001 in 1H 2027.","ORCA-SPLASH Phase 2 in HS initiated (~160 patients); ORKA-004 TL1A antibody enters clinic Q4 2026.","May 2026: IL-23 license with Paragon amended to include all therapeutic areas incl. IBD."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":861324,"accession_number":"0001213900-26-065294","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2026-06-04T20:15:32+00:00","items":["5.07"],"status":"ready","headline":"Oruka Therapeutics stockholders elect directors, ratify auditor, approve say-on-pay at annual meeting","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Lawrence Klein (43.9M votes for) and Chris Martin (43.9M for) elected as Class II directors; 1.3M broker non-votes.","Ratification of PricewaterhouseCoopers as auditor for FY2026 passed: 45.2M for, 39,637 against, 3,432 abstain.","Non-binding advisory vote on named executive officer compensation approved: 43.0M for, 875,114 against, 73,091 abstain; 1.3M broker non-votes."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":777719,"accession_number":"0001213900-26-063481","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2026-06-01T20:01:27+00:00","items":["8.01","9.01"],"status":"ready","headline":"Oruka Therapeutics expands ORKA-001 license to include IBD; clinical dosing restrictions until 2028-2030","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Oruka amended IL-23 license with Paragon to expand field to include inflammatory bowel disease (IBD).","Cannot dose ORKA-001 in combination IBD trial before June 1, 2028, or monotherapy before June 1, 2030.","If material transaction occurs (e.g., change of control), monotherapy restriction ends June 1, 2028.","Paragon's exclusivity for monospecific antibodies in IBD extended to October 11, 2029."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":99635,"accession_number":"0001213900-26-050249","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2026-04-30T23:59:59+00:00","items":["2.02","8.01","9.01"],"status":"ready","headline":"Oruka Therapeutics closes 9.66M-share offering at $72.50; prelim cash $496M","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Oruka completed underwritten public offering of 9,660,000 shares of common stock at $72.50 per share, raising gross proceeds of approximately $700 million.","Underwriters have a 30-day option to purchase up to an additional 1,449,000 shares at the public offering price.","Preliminary estimate of cash, cash equivalents, and investments as of March 31, 2026 is approximately $496 million.","Offering closed April 30, 2026; underwriting agreement dated April 28, 2026 with Leerink, TD, Goldman Sachs, Stifel, Guggenheim."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":99634,"accession_number":"0001213900-26-047743","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2026-04-27T23:59:59+00:00","items":["7.01","8.01","9.01"],"status":"ready","headline":"Oruka Phase 2a EVERLAST-A meets primary endpoint: 63.5% PASI 100 at Week 16 in psoriasis","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["ORKA-001 achieved 63.5% (40/63) PASI 100 at Week 16 vs 4.8% placebo (p<0.0001), exceeding primary endpoint.","Secondary endpoints: PASI 90 82.5%, IGA 0 63.5%, IGA 0/1 84.1% vs 4.8% placebo.","Safety: well-tolerated; no serious TEAEs, no discontinuations; URI 19% vs 14% placebo.","Updated Phase 1 PK/PD data support once-yearly dosing; concentrations above effective trough for 52 weeks.","Longer-term EVERLAST-A data (Week 28, 52-wk) expected 2H 2026; EVERLAST-B Phase 2b data expected 2027."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":132177,"accession_number":"0001213900-25-120676","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2025-12-11T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Oruka Therapeutics appoints Christopher Martin to board; Cameron Turtle resigns","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Cameron Turtle resigned as director on Dec 11, 2025; not due to disagreement with the company.","Christopher Martin appointed as Class II director, Chair of Compensation Committee, and Audit Committee member.","Martin previously Chief Commercial Officer at Verona Pharma, acquired by Merck for ~$10B in Oct 2025.","He received an option to buy 35,000 shares vesting over 3 years; annual cash retainers: $40K (board), $12K (Comp Chair), $7.5K (Audit).","Martin also serves on the board of Edgewise Therapeutics (EWTX)."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":148751,"accession_number":"0001213900-25-090129","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2025-09-22T23:59:59+00:00","items":["1.01","3.02","7.01","9.01"],"status":"ready","headline":"Oruka raises $180M; ORKA-001 Phase 1 shows ~100-day half-life, supports annual dosing","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Private placement gross proceeds ~$180M; issued 10.9M shares at $15.00 and pre-funded warrants for 1.07M shares.","ORKA-001 half-life ~100 days (>3x risankizumab), PK supports potential once-yearly maintenance dosing.","Phase 1 showed complete STAT3 inhibition through 24 weeks; no severe TEAEs; safety consistent with IL-23 class.","EVERLAST-A Phase 2a enrollment ongoing, data expected 2H 2026; EVERLAST-B Phase 2b to start 1H 2026.","Pro forma shares outstanding ~67.1M; cash expected to fund into 2027 after key data readouts."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":148750,"accession_number":"0001213900-25-060352","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2025-07-01T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Oruka Therapeutics appoints Laura Sandler as COO, effective July 1, 2025","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Base salary of $460,000 per year; eligible for annual bonus targeted at 40% of base.","Granted option to purchase 25,000 shares of common stock; vests 25% on first anniversary, then monthly over 36 months.","Severance: 12 months base salary if terminated without cause or for good reason outside change-in-control period.","Within change-in-control period: severance of 1x base salary plus target bonus, plus full equity acceleration.","Sandler previously served as SVP of Operations at Oruka since March 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":167628,"accession_number":"0001213900-25-050756","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2025-06-03T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Oruka Therapeutics shareholders elect directors, ratify auditor, approve say-on-pay","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Elected Carl Dambkowski (26,047,914 for) and Peter Harwin (25,935,823 for) as Class I directors.","Ratified PricewaterhouseCoopers as independent auditor for FY 2025 (26,781,030 for, 1,848 against).","Non-binding advisory vote approved named executive officer compensation (25,824,834 for, 88,740 against).","Non-binding vote favored annual frequency for future say-on-pay; board adopted annual frequency.","All proposals passed; broker non-votes of 732,854 on director and compensation proposals."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":184913,"accession_number":"0001213900-25-010525","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2025-02-05T23:59:59+00:00","items":["1.01"],"status":"ready","headline":"Oruka Therapeutics licenses IL-17A/F antibodies from Paragon; up to $22M in milestones","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Exclusive worldwide license to develop and commercialize Paragon's anti-IL-17A/F antibodies.","Milestone payments up to $22M, including $1.5M for candidate nomination and $2.5M for first Phase 1 dosing.","Low single-digit royalty on antibody products; royalty term up to 12 years after first sale.","Paragon agrees not to conduct new anti-IL-17A/F campaigns in the field for at least 5 years.","Company may terminate agreement on 60 days' notice; termination for breach or insolvency."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":201506,"accession_number":"0001213900-24-110303","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-12-19T23:59:59+00:00","items":["1.01"],"status":"ready","headline":"Oruka Therapeutics enters exclusive IL-23 license with Paragon; up to $22M milestones","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Oruka grants exclusive worldwide license for anti-IL-23 antibodies (ORKA-001) from Paragon, excluding inflammatory bowel disease.","Milestone payments up to $22M including $1.5M for development candidate nomination and $2.5M for first Phase 1 dosing.","Low single-digit royalty on antibody products; royalty term ends 12 years after first sale or last-to-expire patent.","Paragon will not conduct new anti-IL-23 monospecific antibody campaigns in Field for at least 5 years.","Company may terminate on 60 days notice; agreement also subject to material breach and insolvency provisions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":201505,"accession_number":"0001213900-24-099645","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-11-18T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Oruka shareholders approve Series A conversion and adjournment proposals","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["30,598,476 shares voted for Series A conversion; 6,026 against; 1,089 abstaining; no broker non-votes.","29,294,720 shares voted for adjournment proposal; 1,309,805 against; 1,066 abstaining.","Both proposals approved at special meeting held November 14, 2024.","Conversion involves Series A Non-Voting Convertible Preferred Stock issued September 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.15,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":201504,"accession_number":"0001213900-24-098530","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-11-14T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Oruka files retroactively adjusted pre-merger audited financials as of Feb 6, 2024","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Balance sheet shows $1K subscription receivable, zero cash; total stockholders' equity $1K.","Auditor's report includes going concern qualification due to no revenue and operating losses.","Adjustments reflect 1-for-12 reverse stock split and 6.8569 exchange ratio from August 2024 merger.","No new operational or financial information beyond the previously closed business combination."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":201503,"accession_number":"0001213900-24-085543","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-10-04T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Oruka Therapeutics amends CEO & SVP employment agreements, revising severance terms","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["CEO Klein: outside CIC, severance = 12 months base salary + 30% time-based equity vesting. Within CIC, 1.5x base+bonus + full equity acceleration.","SVP Agarwal: outside CIC, 9 months base salary. Within CIC, 0.75x base+bonus + full equity acceleration and 9 months COBRA.","Agreements also provide full time-based equity acceleration upon death/disability for Klein.","Base salary ($600K for CEO) and target bonus (50% of base) remain unchanged."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":217510,"accession_number":"0001213900-24-078549","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-09-13T23:59:59+00:00","items":["1.01","5.03","3.02","7.01","9.01"],"status":"ready","headline":"Oruka raises $200M via PIPE; accelerates ORKA-001/002 clinical timelines","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Gross proceeds of ~$200M from sale of common stock, preferred stock, and pre-funded warrants at $23.00 per common share.","Cash runway extended through 2027; closing expected September 13, 2024.","First-in-human dosing of ORKA-001 (IL-23p19 mAb) now expected Q1 2025; ORKA-002 (IL-17A/F mAb) expected Q3 2025.","Preclinical data show ORKA-001 half-life >30 days in NHPs; data to be presented at EADV September 25-28.","Pro forma shares outstanding expected to be ~55.1 million including all conversions and warrants."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":217509,"accession_number":"0001213900-24-076184","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-09-05T23:59:59+00:00","items":["5.07","1.01","2.01","5.02","9.01","2.02","3.03","4.01","5.01","5.03","5.05","5.06","7.01"],"status":"ready","headline":"ARCA completes reverse merger with Oruka; combined entity renamed Oruka Therapeutics (ORKA)","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Merger closed: ARCA (shell) merges with private Oruka; Oruka shareholders own ~97.6% of combined company.","Pre-closing financing raised ~$275M gross from new & existing investors; includes $25M convertible note.","Special cash dividend of ~$23.4M ($1.613/share) paid to ARCA stockholders on Aug 28, 2024.","Reverse stock split (1-for-12) effective Sept 3, 2024; post-split common shares outstanding: ~29.4M.","Combined company changes name to Oruka Therapeutics, Inc. 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outstanding shares to drop from ~14.5M to ~1.21M.","Post-merger combined company expected to have ~29.5M common shares, plus ~5.4M pre-funded warrants and ~11.4M Series B convertible shares.","Merger expected to close Aug 29; shares to trade as Oruka Therapeutics under ticker 'ORKA' on Nasdaq Global Market starting Sept 3.","New CUSIP 687604108 and ISIN US6876041087 assigned after reverse split; cash in lieu of fractional shares at Sept 3 closing price."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.9,"calibrated_materiality_score":0.9,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":217506,"accession_number":"0001213900-24-070263","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-08-16T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"ARCA biopharma declares special dividend of $1.59/share in connection with proposed Oruka merger","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Special dividend estimated at $1.59 per share, payable to stockholders of record as of August 26, 2024.","Dividend payment date scheduled for August 28, 2024, subject to stockholder approval of the Oruka merger.","Merger vote at special meeting on August 22, 2024; merger close expected August 29, 2024.","Dividend amount based on ARCA's net cash exceeding $5M; actual amount may vary."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":217505,"accession_number":"0001213900-24-069662","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-08-15T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"ARCA biopharma sells legacy Gencaro and rNAPc2 assets to Genvara for $300K","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["ARCA entered Asset Purchase Agreement with Genvara Biopharma to sell all rights in Gencaro (bucindolol) for atrial fibrillation and rNAPc2 (AB201) for COVID-19.","Total cash consideration is $300,000, payable pre-closing and held in escrow until the Closing.","Closing of asset sale is automatic immediately following the First Merger (Oruka merger).","Buyer Genvara is controlled by Dr. Michael Bristow, ARCA's former President/CEO.","The asset sale is a condition to the broader reverse merger with Oruka Therapeutics."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.45,"calibrated_materiality_score":0.45,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":217504,"accession_number":"0000950170-24-089329","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-08-01T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"ARCA biopharma Q2 net loss widens to $2.7M, cash $33.3M; merger with Oruka ongoing","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss $2.7M ($0.18/sh) vs $1.5M ($0.10) in Q2 2023, driven by $1.3M increase in G&A expenses.","Cash $33.3M as of June 30, 2024, down from $37.4M at Dec 31, 2023; expects to fund ops through end of 2025.","G&A expenses rose to $3.0M from $1.7M due to $0.9M merger-related professional fees and $0.4M CEO termination benefits (Dr. Bristow resigned April 3, 2024).","Merger with Oruka Therapeutics remains pending; if not completed, company may pursue dissolution/liquidation.","R&D expenses fell to $0.1M from $0.3M due to reduced headcount and end of grants."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.32,"consensus_revenue_estimate":null,"consensus_revenue_actual":0.0,"consensus_period":"2024-Q2","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":217503,"accession_number":"0001213900-24-060156","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-07-09T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Oruka Therapeutics fixes purchase price error, adds employee warrants in merger with ARCA","summary_kind":"llm","event_type":"other_material","confidence":"medium","bullets":["July 3, 2024: Oruka and parties signed Letter Agreement correcting a scrivener's error in the Purchase Price definition.","Same day: Oruka entered an Amended and Restated Subscription Agreement adding warrants for certain employees and service providers.","Both actions relate to the pending merger with ARCA biopharma (ABIO) under the April 3, 2024 Merger Agreement.","No changes to the $275M aggregate subscription amount or other key deal terms; corrections are procedural."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":237386,"accession_number":"0000950170-24-048364","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-04-25T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"ARCA biopharma Q1 net loss $2.0M, cash $35.9M; Oruka merger and CEO change detailed","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Net loss for Q1 2024 was $2.0M ($0.14 per share) vs $1.3M ($0.09) in Q1 2023.","Cash and equivalents $35.9M at March 31, 2024, down from $37.4M at Dec. 31, 2023; funds operations through mid-2025.","G&A expenses rose to $2.3M from $1.4M due to $1.1M in professional fees related to the Oruka merger.","CEO Michael Bristow separated effective April 3, 2024; Thomas Keuer appointed President and principal executive officer.","Merger with Oruka Therapeutics is subject to conditions; failure could lead to dissolution or alternative strategic transaction."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":237385,"accession_number":"0000950170-24-046918","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-04-23T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"ARCA biopharma boosts CEO and CFO retention bonuses to $200K each","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Board approved 33.33% increase in retention bonuses for Thomas A. Keuer and C. Jeffrey Dekker to $200,000 each.","Remaining $165,000 per executive payable on a corporate transaction or clinical development decision approval.","Amendments effective April 22, 2024; original retention letter terms otherwise unchanged."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":237384,"accession_number":"0000950170-24-041846","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-04-04T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"CEO Michael Bristow departs ARCA biopharma; COO Thomas Keuer named President","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Dr. Bristow's employment and board membership ended April 3, 2024 by mutual agreement, not due to any disagreement.","Bristow receives lump sum of $370,000 (12 months salary plus $25K) and equity continues vesting under consulting agreement.","Thomas Keuer, COO since 2015, appointed President and principal executive officer effective April 3, 2024.","Keuer's appointment will end upon closing of the previously announced merger with Oruka Therapeutics.","Separation agreement includes standard release, confidentiality, non-disparagement, and arbitration clauses."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":237383,"accession_number":"0001193125-24-085437","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-04-03T23:59:59+00:00","items":["1.01","3.02","5.01","5.02","7.01","9.01"],"status":"ready","headline":"ARCA biopharma to merge with Oruka; Oruka holders to own ~97.6% of combined company","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Oruka stockholders to own ~97.62% of the combined company; ARCA stockholders ~2.38%.","Combined company to be renamed Oruka Therapeutics, led by Oruka's CEO.","PIPE financing of ~$275M from accredited investors to close immediately before the merger.","Oruka holders (~90%) and ARCA holders (~28.5%) entered support agreements to vote in favor.","Closing conditions include ARCA stockholder approval, Nasdaq listing, and HSR clearance."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.9,"calibrated_materiality_score":0.9,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":254921,"accession_number":"0000950170-24-035373","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-03-22T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"ARCA biopharma extends headquarters lease through September 2024 at increased rent","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Lease extended 6 months to Sept 30, 2024; base rent raised to $8,206.42/month from April 1.","After extension, month-to-month tenancy at 125% of Sept 2024 base rent if tenant remains.","Company must provide 60-day vacate notice; landlord may market space during extension period."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":254920,"accession_number":"0000950170-24-011737","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-02-06T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Two ARCA biopharma directors resign; board reduced from eight to six","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Raymond L. 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cash $37.4M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss improved to $5.3M from $9.9M in 2022; basic EPS loss $0.37 vs $0.69.","Cash and equivalents $37.4M at Dec 31, 2023, down from $42.4M; runway through mid-2025.","G&A expenses rose to $6.3M (2023) from $5.8M (2022) on higher professional and strategic review fees.","R&D expenses fell to $1.0M from $4.7M due to lower clinical costs and headcount reduction.","Strategic review ongoing with no defined timeline; potential merger, asset sale, or other alternatives."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.37,"consensus_revenue_estimate":null,"consensus_revenue_actual":0.0,"consensus_period":"2023-FY","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":254918,"accession_number":"0000950170-24-009397","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2024-01-31T23:59:59+00:00","items":["5.02","5.07","9.01"],"status":"ready","headline":"ARCA biopharma grants options to 7 non-employee directors; stockholders re-elect two directors at annual meeting","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Board granted options to purchase 6,000 shares each to 7 non-employee directors at $1.64 per share, vesting monthly over 12 months.","Stockholders re-elected Michael Bristow (6,952,545 for) and Robert Conway (6,758,409 for) as directors for three-year terms.","Ratified KPMG LLP as independent auditor for FY2023 with 10,286,650 for, 263,929 against, 68,141 abstain.","Advisory say-on-pay resolution approved: 6,548,473 for, 1,472,454 against, 19,941 abstain."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.25,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":272405,"accession_number":"0000950170-23-068189","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2023-12-05T23:59:59+00:00","items":["5.08","9.01"],"status":"ready","headline":"ARCA biopharma sets Jan 30, 2024 annual meeting, Dec 6 record date, Dec 11 proposal deadline","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Annual meeting scheduled for January 30, 2024; record date for voting is December 6, 2023.","Shareholder proposals or director nominations must be received by December 11, 2023.","Proxy materials expected to be available beginning on or about December 19, 2023."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":272404,"accession_number":"0000950170-23-067790","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2023-12-04T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"ARCA biopharma increases retention bonuses for two execs by 50% to $150,000 each","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Retention bonus for Thomas Keuer and C. 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cash $42.4M; strategic review ongoing","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss $9.9M ($0.69/share) vs $19.3M ($1.39/share) in 2021; operating expenses down to $10.6M from $19.3M.","Cash and equivalents $42.4M at year-end; expected to fund operations through mid-2024.","R&D expenses fell to $4.7M from $13.8M due to completion of rNAPc2 Phase 2b trial; restructuring charges of $0.8M in Q3 2022.","Company engaged Ladenburg Thalmann to explore strategic alternatives including M&A; no timetable set."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.69,"consensus_revenue_estimate":null,"consensus_revenue_actual":0.0,"consensus_period":"2022-FY","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":328696,"accession_number":"0000950170-23-002622","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2023-02-13T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"ARCA biopharma General Counsel Christopher Ozeroff to depart effective March 31, 2023","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Christopher D. 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Jeffrey Dekker each receive $100,000 cash retention bonus and 40,000 RSUs.","RSUs vest one year from December 8, 2022, subject to continued employment.","Cash bonus payable upon earlier of a change in control or certain clinical development decisions by the Board.","Unvested RSUs accelerate upon change in control or involuntary termination without cause or for good reason.","Retention incentives designed to retain executives through key corporate milestones."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.35,"calibrated_materiality_score":0.35,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":346358,"accession_number":"0001564590-22-035701","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2022-10-28T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"ARCA biopharma Q3 net loss narrows to $2.3M; strategic review with workforce reduction","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss of $2.3M ($0.16/sh) narrowed from $4.7M ($0.33/sh) in Q3 2021.","Cash $43.9M as of Sep 30, 2022; sufficient to fund operations through end of 2023.","Workforce reduction with ~$0.8M restructuring charges recorded in Q3 2022.","Strategic review with Ladenburg Thalmann; evaluating acquisition, merger, or other options.","R&D expenses fell to $1.0M from $3.4M due to completion of rNAPc2 Phase 2b trial enrollment."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.61,"consensus_revenue_estimate":null,"consensus_revenue_actual":0.0,"consensus_period":"2022-Q3","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":346357,"accession_number":"0001564590-22-034773","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2022-10-20T23:59:59+00:00","items":["5.08","9.01"],"status":"ready","headline":"ARCA biopharma sets 2022 annual meeting for Dec 15, record date Oct 25","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Shareholder proposals/nominations due by Oct 24, 2022 due to meeting being >30 days from prior year.","Proxy materials expected to be available on or about Nov 4, 2022.","Record date for voting set as Oct 25, 2022."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":362754,"accession_number":"0001564590-22-027494","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2022-08-02T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"ARCA biopharma Q2 net loss narrows to $3.1M; strategic review ongoing","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss $3.1M ($0.22/sh) vs $4.8M ($0.34/sh) year ago.","Cash and equivalents $46.4M as of June 30, 2022, sufficient through end of 2023.","R&D expenses fell to $1.5M from $3.6M due to completion of rNAPc2 trial enrollment.","Strategic review with advisor Ladenburg Thalmann; exploring acquisition, merger, or other options.","G&A expenses $1.7M, up $0.5M on higher professional fees and consulting costs."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.45,"consensus_revenue_estimate":null,"consensus_revenue_actual":0.0,"consensus_period":"2022-Q2","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":382365,"accession_number":"0001564590-22-023734","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2022-06-21T23:59:59+00:00","items":["1.01","5.02","9.01"],"status":"ready","headline":"ARCA biopharma appoints Jacob Ma-Weaver, from largest shareholder, to board; explores strategic alternatives","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Jacob Ma-Weaver appointed as Class III director effective June 15, 2022, term through 2024 annual meeting.","Ma-Weaver is managing member of Cable Car Capital, ARCA's largest shareholder.","Cooperation agreement includes standstill until 180 days after Ma-Weaver leaves board or 90 days before 2023 annual meeting.","Company to explore and evaluate strategic options to maximize stockholder value.","Ma-Weaver granted option to purchase 12,000 shares at $2.27 per share, vesting over 36 months."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":382364,"accession_number":"0001564590-22-018272","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2022-05-05T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"ARCA biopharma retains Ladenburg Thalmann for strategic options review","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Retained Ladenburg Thalmann & Co. Inc. as financial advisor for strategic review.","Board formed Special Committee in April 2022 to explore value-maximizing alternatives.","Potential alternatives include acquisition, merger, business combination, or other transaction.","No timetable set for review; no assurance that any transaction will result."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":382363,"accession_number":"0001564590-22-017065","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2022-05-02T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"ARCA biopharma Q1 net loss narrows to $3.3M; initiates strategic review","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss of $3.3M ($0.23/share) vs $4.1M ($0.33/share) in Q1 2021, narrowing on lower R&D spend.","Cash $49.1M as of March 31, 2022, expected to fund operations through mid-2023.","R&D expenses fell to $2.2M from $2.9M due to completion of rNAPc2 Phase 2b enrollment in Q4 2021.","Board established Special Committee in April to evaluate strategic options including partnering or other alternatives.","No revenue reported; clinical-stage biotech focused on genetically targeted cardiovascular therapies."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.23,"consensus_revenue_estimate":null,"consensus_revenue_actual":0.0,"consensus_period":"2023-Q1","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":382362,"accession_number":"0001564590-22-014649","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2022-04-18T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"ARCA biopharma establishes Special Committee to evaluate strategic options","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Special Committee formed to explore options for maximizing stockholder value.","Committee includes Board Chairman Robert E. Conway (chair), Linda Grais, and Anders Hove.","Company believes multiple opportunities exist to enhance value, but no specific deal disclosed.","No timeline given for completion of strategic review."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":400290,"accession_number":"0001564590-22-013022","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2022-03-31T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"ARCA biopharma's rNAPc2 fails to meet primary endpoint in Phase 2b COVID-19 trial","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Pooled rNAPc2 reduced D-dimer 16.8% vs heparin 11.2% (P=0.47), missing statistical significance.","Per-protocol analysis: rNAPc2 reduced D-dimer 28.7% vs heparin increase 1.1% (P=0.33).","In WHO Severe patients, heparin D-dimer increased 29.0% (P=0.022); rNAPc2 changed 25.9% (P=0.16).","Thrombotic events: 9 in heparin group vs 6 in rNAPc2; hazard ratio for recovery 0.88, neither significant.","Company will not pursue direct superiority trial vs heparin for COVID-19; evaluating partnering and strategic options."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":400289,"accession_number":"0001564590-22-010094","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2022-03-14T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"ARCA biopharma reports FY2021 net loss $19.3M, cash $53.4M; rNAPc2 data due late March 2022","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss $19.3M ($1.39/share) vs $9.7M ($2.07/share) in FY2020; total operating expenses $19.3M.","Cash and equivalents $53.4M at Dec 31, 2021, up from $49.1M; runway through mid-2023.","R&D expenses $13.8M (up from $5.0M) driven by rNAPc2 trial; FY2022 R&D expected similar.","Topline data from Phase 2b ASPEN-COVID-19 trial for rNAPc2 anticipated last week of March 2022.","Gencaro paper published in Heart Rhythm O2; company evaluating PRECISION-AF trial feasibility."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":419245,"accession_number":"0001564590-21-060582","cik":907654,"company_name":"Oruka Therapeutics, Inc.","ticker":"ORKA","form_type":"8-K","filed_at":"2021-12-16T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"ARCA biopharma awards incentive stock options to four executives","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["CEO Michael Bristow received 95,000 options; COO Keuer 35,000; GC Ozeroff 27,500; CFO Dekker 17,700.","Exercise price $2.29 per share, closing price on December 14, 2021; vesting in 36 equal monthly installments.","In a change of control, 50% of unvested options accelerate; remainder vest on earlier of one year or involuntary termination."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":3497498949.999661,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null}],"next_cursor":"2021-12-16T23:59:59+00:00|419245"}