Oruka Therapeutics stock surges after positive Phase 1 results

Investing.com -- Oruka Therapeutics (NASDAQ:ORKA) stock jumped 20% on Tuesday after the company announced positive interim results from its Phase 1 trial of ORKA-001, its long-acting IL-23p19 antibody for plaque psoriasis treatment.

The clinical-stage biotechnology company reported that ORKA-001 demonstrated a half-life of approximately 100 days, which is more than three times longer than risankizumab, a competing treatment. This extended half-life increases the likelihood that the drug could be administered just once per year, potentially offering a significant advantage over current treatments that require more frequent dosing.

According to the data presented at the European Academy of Dermatology and Venerology Congress in Paris, the drug was well-tolerated across all tested dose levels with a safety profile consistent with the IL-23p19 class. The pharmacokinetic profile suggests ORKA-001 could achieve exposures that might lead to higher efficacy and extended periods of remission without treatment.

"ORKA-001’s approximately 100-day half-life exceeded our expectations and has the potential to enable multiple ’upside’ scenarios for the program," said Lawrence Klein, PhD, CEO of Oruka. "We are increasingly confident that ORKA-001 can redefine the standard of care in this important disease."

The company is currently enrolling patients in its EVERLAST-A Phase 2a trial, with initial data expected in the second half of 2026. Oruka also plans to initiate EVERLAST-B, a dose-ranging Phase 2b trial, in the first half of 2026.

In a separate announcement, Oruka disclosed it has secured approximately $180 million in a private investment in public equity financing led by Viking Global Investors, with participation from both new and existing investors. The company intends to use the proceeds to fund research and development activities and general corporate expenses.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.