Oruka raises $200M via PIPE; accelerates ORKA-001/002 clinical timelines

Oruka Therapeutics, Inc.

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.

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