---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-090129"
form_type: "8-K"
ticker: "ORKA"
cik: "0000907654"
company_name: "Oruka Therapeutics, Inc."
filed_at: "2025-09-22T23:59:59+00:00"
generated_at: "2026-05-17T06:03:46.992122+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Oruka raises $180M; ORKA-001 Phase 1 shows ~100-day half-life, supports annual dosing

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-25-090129
- form_type: 8-K
- ticker: ORKA
- cik: 0000907654
- company_name: Oruka Therapeutics, Inc.
- filed_at: 2025-09-22T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/907654/000121390025090129/0001213900-25-090129-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/907654/000121390025090129/ea0257865-8k_oruka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-090129
- JSON: https://secwatch.observer/filing/0001213900-25-090129.json
- Plain text: https://secwatch.observer/filing/0001213900-25-090129.txt

## Key facts
- Equity Issuances
  Oruka Therapeutics, Inc. issued 10,933,405 shares of common stock to certain institutional and accredited investors for price per share of $15.00.
  - Security: common stock
  - Shares: 10,933,405 shares
  - Purchaser: certain institutional and accredited investors
  - Consideration: price per share of $15.00
  source text: an aggregate of 10,933,405 shares (the “Common Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a price per share of $15.00
  evidence_url: https://www.sec.gov/Archives/edgar/data/907654/000121390025090129/0001213900-25-090129-index.htm
- Equity Issuances
  Oruka Therapeutics, Inc. issued 1,066,666 shares of Common Stock of warrant to certain institutional and accredited investors for purchase price of $14.999 per Pre-Funded Warrant.
  - Security: warrant
  - Shares: 1,066,666 shares of Common Stock
  - Purchaser: certain institutional and accredited investors
  - Consideration: purchase price of $14.999 per Pre-Funded Warrant
  source text: pre-funded warrants (the “Pre-Funded Warrants”) to purchase an aggregate of 1,066,666 shares of Common Stock (the “Pre-Funded Warrant Shares”) at a purchase price of $14.999 per Pre-Funded Warrant
  evidence_url: https://www.sec.gov/Archives/edgar/data/907654/000121390025090129/0001213900-25-090129-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.