Oruka Therapeutics rises after upsized $700 mln stock offering

Oruka Therapeutics

29/04/2026 12:11

** Oruka Therapeutics' ORKA.O shares up 1.7% to $75.27 before the bell following above-target $700 mln equity raise

** Biopharma firm late Tues sold 9.66 mln shares at $72.50, a 2% discount to last sale

** ORKA shares closed up nearly 11% at $76.39 on Mon after co's psoriasis treatment, monoclonal antibody ORKA-001, met main goal in mid-stage study

** After market close on Mon, co commenced $500 mln offering for general purposes, including R&D and working capital, according to the prospectus

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

** Prior to the offering, Menlo Park, California-based ORKA had ~50.2 mln shares outstanding

** ORKA shares slipped 3% on Tues, leaving them up 144% YTD

** 7 of 14 analysts rate the stock "strong buy", 7 rate "buy"; median PT of $131 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))