Oruka Therapeutics, Inc. (ORKA) SEC Filings & Earnings Calls
EquiReason read 15 Oruka Therapeutics, Inc. SEC filings in the last 12 months. Latest: 8-K on 2026-08-24 — Annualized base salary $525,000.00; target bonus percentage 40; stock option shares 20,000.
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 5.3B
- P/E TTM
- —
- Dividend yield
- —
- 52-week
- —
- Next earnings
- 18 Nov, in 25 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
24 Aug 20268-K · 5.02Annualized base salary $525,000.00; target bonus percentage 40; stock option shares 20,000open
Figures in the filing · each found in the filing text
| annualized base salary · FY2026 | $525000.00 | |
| target bonus percentage · FY2026 | 40.0% | |
| stock option shares · FY2026 | 20,000 | |
| RSU shares · FY2026 | 100,000 | |
| signing bonus · FY2026 | $200000.00 |
10 Aug 20268-K · 2.02Cash, cash equivalents and marketable securities $1.10B; Net loss $-41M (+68% y/y); R&D expenses $43M (+80% y/y)earningsopen
Figures in the filing · each found in the filing text
| Cash, cash equivalents and marketable securities · Q2-2026 | $1.10B | |
| Net loss · Q2-2026 | $-41M | +68% y/y |
| R&D expenses · Q2-2026 | $43M | +80% y/y |
| G&A expenses · Q2-2026 | $7M | +61% y/y |
| Other income, net · Q2-2026 | $9M | +128% y/y |
Risks flagged
Clinical trial failure risk; no approved products.
“Clinical-stage company with no approved products; multiple Phase 2 trials ongoing.”
High cash burn rate may require future financing.
“Net loss $41.2M in Q2; cash $1.1B provides runway through BLA filing.”
10 Aug 202610-QOrka reported no revenue, significant capital raises totaling over $989M, and ongoing clinical trials for ORKA-001 and ORKA-002.earningsopen
Figures in the filing · each found in the filing text
| Net proceeds from April 2026 equity offering · Q2-2026 | $658M | |
| Net proceeds from ATM program · 2026-07-31 | $161M | |
| Net proceeds from September 2025 private placement · 2025-09 | $170M |
Risks flagged
Pre-revenue clinical-stage company with no approved products
“We are a clinical stage biopharmaceutical company with a limited operating history on which to assess our business; our clinical trials are ongoing, we have no products approved for commercial sale, we have historically incurred losses, and we anticipate that we will continue to incur significant losses for the foreseeable future.” · word for word
Dependence on two most advanced programs ORKA-001 and ORKA-002
“We are substantially dependent on the success of our two most advanced programs, ORKA-001 and ORKA-002, and our clinical trials of such programs may not be successful.” · word for word
Unproven half-life extension technology
“There is limited clinical data available on product candidates utilizing half-life extension technologies, especially in I&I indications, demonstrating whether they are safe or effective for long-term treatment in humans.” · word for word
1 Jul 2026SC 13D/AFairmount Funds filed Amendment No. 6 to Schedule 13D, reporting 19.47% beneficial ownership, conversion of Series B Preferred shares, and a block trade sale of 3,553,410 shares at $84.43 per share.open
Figures in the filing · each found in the filing text
| Beneficial Ownership Percentage · 2026-07-01 | 19.5% |
Risks flagged
Large block trade by activist holder
“Fund II sold in a block trade a total of 3,553,410 shares of Common Stock at a price of $84.43 per share.” · word for word
1 Jul 2026SC 13D/AFairmount Funds filed Amendment No. 6 to Schedule 13D, reporting 19.47% beneficial ownership, conversion of Series B Preferred shares, and a block trade sale of 3,553,410 shares at $84.43 per share.open
Figures in the filing · each found in the filing text
| Beneficial Ownership Percentage · 2026-07-01 | 19.5% |
Risks flagged
Large block trade by activist holder
“Fund II sold in a block trade a total of 3,553,410 shares of Common Stock at a price of $84.43 per share.” · word for word
13 May 202610-QGross proceeds from April 2026 offering $700M; Net proceeds from private placement $170Mopen
Figures in the filing · each found in the filing text
| Gross proceeds from April 2026 offering · 2026-04 | $700M | |
| Net proceeds from private placement · 2025-09 | $170M |
Risks flagged
No approved products or revenue
“We have never generated revenue from product sales and may never be profitable.” · word for word
Dependence on ORKA-001 and ORKA-002
“We are substantially dependent on the success of our two most advanced programs, ORKA-001 and ORKA-002.” · word for word
Clinical trial failure risk
“Our clinical trials may fail to show safety or efficacy, show meaningful improvement in efficacy or convenience compared to competitors, produce negative or inconclusive results.” · word for word
Need for additional capital
“We will need to raise substantial additional capital to continue to fund our operations in the future.” · word for word
Half-life extension technology unproven
“There is limited clinical data available on product candidates utilizing half-life extension technologies, especially in I&I indications, demonstrating whether they are safe or effective for long-term treatment in humans.” · word for word
17 Apr 2026DEF 14AAnnual proxy statement for 2026 annual meeting, including say-on-pay vote and director elections.open
Figures in the filing · each found in the filing text
| Net Income (Loss) · FY2025 | $-105M |
Risks flagged
Pre-revenue clinical stage with no approved products
“Oruka is a reasonably newly public, pre-revenue clinical stage biotechnology company” · word for word
Concentrated ownership by Fairmount (19.99%) with significant influence
“Entities affiliated with Fairmount Funds Management LLC ... 11,162,741 ... 19.99%” · word for word
Governance provisions limit shareholder rights (classified board, supermajority voting)
“Classified board ... Supermajority voting ... Plurality voting for directors ... Stockholders cannot call special meetings or act by written consent”
12 Mar 202610-KCash, cash equivalents, and marketable securities $480M; Accumulated deficit $189M; Net loss $-105Mopen
Figures in the filing · each found in the filing text
| Cash, cash equivalents, and marketable securities · FY2025 | $480M | |
| Accumulated deficit · FY2025 | $189M | |
| Net loss · FY2025 | $-105M | |
| Net cash used in operating activities · FY2025 | $-88M | |
| ORKA-001 half-life · FY2025 | $100.00 |
Risks flagged
Clinical trial failure risk
“If the number of our addressable patients is not as significant as we estimate... we may not generate significant revenue from sales of such products, even if approved.” · word for word
Financing risk
“If the equity and credit markets deteriorate... it may make any necessary debt or equity financing more costly, more dilutive, or more difficult to obtain in a timely manner or on favorable terms, if at all.” · word for word
Product liability risk
“We are exposed to potential product liability and professional indemnity risks that are inherent in the research, development, manufacturing, marketing, and use of pharmaceutical products.” · word for word
11 Dec 20258-K · 5.02Reported the departure of a director or principal officer (CEO/CFO change); filed financial statements and exhibits with this reportopen
Risks flagged
Insufficient information to assess risk.
12 Nov 202510-QOruka Therapeutics reported Q3 2025 results: net loss $30.3M, R&D spend $29.0M, cash $500.9M; Phase 2a for ORKA-001 initiated.earningsopen
Figures in the filing · each found in the filing text
| Cash, cash equivalents, and marketable securities · Q3-2025 | $501M | |
| Net loss · Q3-2025 | $-30M | +6% y/y |
| Research and development expenses · Q3-2025 | $29M | +13% y/y |
| Net cash used in operating activities · 9M-2025 | $-66M | +68% y/y |
| Stock-based compensation expense · 9M-2025 | $20M | +106% y/y |
Guidance
Existing cash sufficient for at least 12 months
Management expects existing cash to fund operations for at least 12 months; no formal revenue or EPS guidance provided.
Risks flagged
Clinical development risk
“We are substantially dependent on the success of our two most advanced programs, ORKA-001 and ORKA-002, and our clinical trials of such programs may not be successful.” · word for word
Capital requirement risk
“We will need to secure additional financing in the future to fund additional research and development, and before a commercial drug can be produced, marketed, and sold.” · word for word
Dilution risk
“the investors purchased an aggregate of 10,933,405 shares of Company Common Stock at a purchase price of $15.00 per share” · word for word
Oruka Therapeutics, Inc. — questions
- What did Oruka Therapeutics, Inc. file recently?
- 15 SEC filings in the last 12 months. Latest: 8-K on 2026-08-24 — Annualized base salary $525,000.00; target bonus percentage 40; stock option shares 20,000
Every figure on this page comes from Oruka Therapeutics, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.