ORKA News & Events

Oruka Therapeutics is down -8.1%, or -$7.60 to $85.69.

BTIG analyst Julian Harrison says AbbVie (ABBV) can leverage its existing dermatology channels and compete in atopic dermatitis beyond JAK inhibitors with an acquisition of Apogee Therapeutics (APGE). Johnson & Johnson (JNJ), Pfizer (PFE), and Novartis (NVS) have strong dermatology channels but no prominent commercial presence in atopic dermatitis yet, and therefore could also be interested in acquiring Apogee, the analyst tells investors in a research note. BTIG views the Financial Times' report of AbbVie's potential buyout of Apogee as positive for other spinouts from Paragon Therapeutics, including Jade Biosciences (JBIO), Oruka Therapeutics (ORKA), Spyre Therapeutics (SYRE), and Crescent Biopharma (CBIO). The firm has a Buy rating on Apogee Therapeutics with a $137 price target. The stock in premarket trading is up 54%, or $49.10, to $139.48.

"This was an important period for our company as we saw interim data for ORKA-001 that hit the upper end of our expectations on all aspects," said Lawrence Klein, Chief Executive Officer of Oruka. "Based on this data we were able to strengthen our balance sheet and provide runway through completion of late-stage development for that program. We're looking forward to multiple readouts coming in 2026 and 2027, including additional data from ORKA-001 and the beginning of our readouts for ORKA-002 as well."