secwatch.observer — SEC 8-K summary
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Issuer:     Oruka Therapeutics, Inc. (ORKA)
CIK:        0000907654
Form:       8-K
Filed at:   2025-09-22T23:59:59+00:00
Accession:  0001213900-25-090129
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/907654/000121390025090129/0001213900-25-090129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/907654/000121390025090129/ea0257865-8k_oruka.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-090129

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer