Oruka Reports 63.5% PASI 100 Rate and Raises $700M Cash
Oruka’s EVERLAST-A trial in plaque psoriasis reported a 63.5% PASI 100 rate at Week 16 and sustained IL-23 pathway inhibition with single 600 mg dosing maintaining therapeutic levels for a year. A $700 million upsized offering boosts its cash to $496 million, funding operations through the program’s BLA filing.
1. EVERLAST-A Trial Results
Oruka’s EVERLAST-A Phase 2 trial of ORKA-001 in moderate-to-severe plaque psoriasis achieved a 63.5% PASI 100 rate, 83% PASI 90 and 84% IGA 0/1 at Week 16, with safety comparable to placebo and single 600 mg dosing sustaining effective trough levels for one year.
2. Financial Position and Upsized Offering
As of March 31, the company held $496 million in cash, cash equivalents and marketable securities and closed a $700 million upsized public offering, expected to fund operations through the BLA filing for its IL-23p19 antibody program.
3. ORKA-002 Development Progress
The ORCA-SURGE Phase 2 trial of ORKA-002 in moderate-to-severe psoriasis is underway with data due in 2027, supported by Phase 1 data showing a 75–80 day half-life; a Phase 2 hidradenitis suppurativa trial (ORCA-SPLASH) is slated for second half 2026.
4. Collaboration and Upcoming Milestones
In May 2026, the company entered a collaboration with Halozyme for Hypercon™ technology integration, and plans to share longer-term Week 28 and 52-week follow-up data in 2H 2026, with Phase 3 initiation targeted based on 2027 EVERLAST-B results.