ORKA

MKT CAP:$3B

Oruka Therapeutics, Inc.

Market Cap

$3B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$69.68+$41.41 (+146.48%)

Apr 22, 2026

Company Details

Oruka Therapeutics, Inc. is a biotechnology company, which focuses on developing novel monoclonal antibody therapeutics for PsO and other I&I indications. Its pipeline includes ORKA-001 and ORKA-002. The company is headquartered in Menlo Pa...

CEO

Lawrence Otto Klein

IPO Date

Aug 8, 1997

Website

www.orukatx.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$105M

EPS (Diluted)

-$2.31

Free Cash Flow

-$88M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Dec 30, 2025

$0EPS -$2.31

Q4 2025

Dec 30, 2025

$0EPS -$0.54

Q3 2025

Sep 30, 2025

$0EPS -$0.69

Q2 2025

Jun 30, 2025

$0EPS -$0.58

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$0	-$19.0K	-$5M
Q3 21	$0	-$27.0K	-$5M
Q4 21	$0	-$28.0K	-$6M
Q1 22	$0	-$28.0K	-$3M
Q2 22	$0	-$29.0K	-$2M
Q3 22	$0	-$28.0K	-$2M
Q4 22	$0	-$29.0K	-$2M
Q1 23	$0	-$29.0K	-$2M
Q2 23	$0	-$29.0K	-$2M
Q3 23	$0	-$30.0K	-$2M
Q4 23	$0	-$23.0K	-$2M
Q3 24	$0	$0	-$29M
Q1 25	$0	$0	-$25M
Q2 25	$0	$0	-$28M
Q3 25	$0	$0	-$34M
Q4 25	$0	-$28.0K	-$34M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 19	-$887.0K	-$889.0K
Q4 19	-$1M	-$1M
Q1 20	-$2M	-$2M
Q2 20	-$1M	-$1M
Q3 20	-$2M	-$2M
Q4 20	-$3M	-$3M
Q1 21	-$5M	-$5M
Q2 21	-$4M	-$4M
Q3 21	-$5M	-$5M
Q4 21	-$5M	-$5M
Q1 22	-$4M	-$4M
Q3 24	-$35M	-$35M
Q1 25	-$21M	-$21M
Q2 25	-$23M	-$23M
Q3 25	-$22M	-$22M
Q4 25	-$23M	-$23M

Capital Expenditures

Quarter	CapEx
Q3 19	$2.0K
Q4 19	$2.0K
Q1 20	$3.0K
Q2 20	$3.0K
Q3 20	$0
Q4 20	$13.0K
Q1 21	$6.0K
Q2 21	$16.0K
Q3 21	$14.0K
Q4 21	$7.0K
Q1 22	$2.0K
Q3 24	$171.0K
Q1 25	$13.0K
Q2 25	$34.0K
Q3 25	$99.0K
Q4 25	$63.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	—	+269.2%
Q3 21	—	+137.0%
Q4 21	—	+10.8%
Q1 22	—	-20.1%
Q2 22	—	-49.8%
Q3 22	—	-62.6%
Q4 22	—	-72.1%
Q1 23	—	-45.2%
Q2 23	—	-18.8%
Q3 23	—	+9.9%
Q4 23	—	+0.4%
Q3 24	—	+1539.7%
Q1 25	—	+1171.5%
Q2 25	—	+1367.7%
Q3 25	—	+2045.0%
Q4 25	—	+16.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 19	$0	—
Q4 19	$0	—
Q1 20	$0	—
Q2 20	$0	—
Q3 20	$0	—
Q4 20	$0	—
Q1 21	$0	—
Q2 21	$0	—
Q3 21	$0	—
Q4 21	$0	—
Q1 22	$0	—
Q3 24	$0	—
Q1 25	$5M	—
Q2 25	$5M	—
Q3 25	$0	—
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q2 21	$4M	—	$1M
Q3 21	$3M	—	$1M
Q4 21	$4M	—	$2M
Q1 22	$2M	—	$1M
Q2 22	$995.0K	—	$1M
Q3 22	$534.0K	—	$1M
Q4 22	$266.0K	—	$1M
Q1 23	$390.0K	—	$1M
Q2 23	$254.0K	—	$2M
Q3 23	$322.0K	—	$2M
Q4 23	$47.0K	—	$2M
Q3 24	$26M	$4M	—
Q1 25	$20M	$5M	—
Q2 25	$24M	$4M	—
Q3 25	$29M	$5M	—
Q4 25	$28M	—	$7M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$49M	$0	$49M
Q2 22	$46M	$0	$46M
Q3 22	$44M	$0	$44M
Q4 22	$42M	$0	$42M
Q1 23	$41M	$0	$41M
Q2 23	$40M	$0	$40M
Q3 23	$38M	$0	$38M
Q4 23	$37M	$0	$37M
Q1 24	$36M	$0	$36M
Q2 24	$33M	$0	$33M
Q3 24	$411M	$0	$411M
Q4 24	$62M	$314M	$376M
Q1 25	$84M	$266M	$349M
Q2 25	$65M	$263M	$328M
Q3 25	$91M	$258M	$349M
Q4 25	$47M	$290M	$337M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	1M	+16.6%	+703.3%
Q3 21	1M	0.0%	+138.4%
Q4 21	1M	0.0%	+50.9%
Q1 22	1M	0.0%	+16.6%
Q2 22	1M	0.0%	0.0%
Q3 22	1M	0.0%	0.0%
Q4 22	1M	0.0%	0.0%
Q1 23	14M	+1100.0%	+1100.0%
Q2 23	14M	0.0%	+1100.0%
Q3 23	14M	0.0%	+1100.0%
Q4 23	14M	+0.0%	+1100.5%
Q3 24	15M	+4.1%	+4.2%
Q1 25	42M	+177.6%	+189.2%
Q2 25	42M	+1.3%	+193.1%
Q3 25	44M	+4.3%	+205.7%
Q4 25	54M	+23.5%	+262.5%

Shares Outstanding