06:16 AM EDT, 09/17/2025 (MT Newswires) -- Oruka Therapeutics ( ORKA ) said Wednesday that interim data from an early-stage trial of its long-acting antibody ORKA-001 showed a half-life of about 100 days, which could increase the likelihood of dosing once annually in plaque psoriasis.

The company said pharmacokinetic data indicated exposures that could support higher efficacy and extended off-treatment remissions, while single doses demonstrated sustained inhibition of IL-23 activity markers through 24 weeks.

ORKA-001 was well tolerated, with no severe adverse events were reported, the company said.

The company said enrollment for phase 2a trial is ongoing, with initial data expected in H2 of next year.

Separately, Oruka said it has agreed to sell 10.9 million shares at $15 per share and 1.07 million pre-funded warrants at $14.999 each, for $180 million.

The private placement is expected to close around Friday and the company plans to use net proceeds along with existing cash to fund research and development, general corporate expenses and working capital needs.

Shares of Oruka were up 20% in recent Wednesday premarket activity.