Oruka Therapeutics expands drug development into inflammatory bowel disease

Oruka Therapeutics has expanded the development rights for its lead IL-23 program, ORKA-001, to include inflammatory bowel disease (IBD). This follows an amended license agreement with Paragon Therapeutics that now covers all therapeutic areas. The company is currently developing ORKA-001 for moderate-to-severe plaque psoriasis, with Phase 2b trials fully enrolled and a Phase 3 program planned for the first half of 2027.

Oruka Therapeutics maintains a $1.1 billion cash position, which management expects will fund operations through the anticipated Biologics License Application (BLA) filing for ORKA-001. The company is also advancing its pipeline with ORKA-004, a monoclonal antibody targeting TL1A, which is expected to enter clinical development in late 2026.

In market activity, Oruka Therapeutics (NASDAQ: ORKA) recently reached a 52-week high, trading as high as $105.31. Several analysts have issued positive outlooks, including BTIG Research and UBS Group, with price targets ranging from $120 to $165. The company reported a quarterly loss of $0.55 per share, missing the consensus estimate of $0.51.