Oruka dips on equity raise plans following promising psoriasis study

Oruka Therapeutics

27/04/2026 21:56

** Shares of Oruka Therapeutics ORKA.O dip 0.9% to $75.74 in after-hours trading as it seeks equity on heels of promising psoriasis treatment study

** ORKA shares closed up 10.7% at $76.39 on Mon after co said its monoclonal antibody ORKA-001 showed complete skin clearance in 63.5% of patients at 16 weeks, meeting main goal in mid-stage clinical trial

** ORKA-001 being studied in patients with moderate-to-severe plaque psoriasis, a chronic autoimmune condition causing itchy scaly patches on skin

** After market close, co commences $500 mln stock offering

** Leerink, TD Cowen, Goldman Sachs, Stifel and Guggenheim joint bookrunners

** With ~50.2 mln shares outstanding, Menlo Park, California-based ORKA has about $3.8 bln market cap

** At Mon close, stock up 152% YTD

** Half of the 14 analysts covering ORKA rate the stock "strong buy", the rest rate "buy"; median PT of $125 up from $60 a month ago, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))