Oruka Therapeutics Closes $700 Million Public Offering of Common Stock

On April 28, 2026, Oruka Therapeutics, Inc. (Nasdaq: ORKA) entered into an underwriting agreement for a public offering of 9,660,000 shares of common stock at a price of $72.50 per share. The offering closed on April 30, 2026, resulting in the issuance of the firm shares. Additionally, the company granted underwriters a 30-day option to purchase up to an additional 1,449,000 shares. In connection with the offering, Oruka disclosed preliminary financial estimates, reporting approximately $496 million in cash, cash equivalents, and investments as of March 31, 2026. The offering was conducted under a shelf registration statement on Form S-3 that became effective on April 10, 2026. The underwriting syndicate was led by Leerink Partners, TD Securities, Goldman Sachs, Stifel, and Guggenheim Securities. Proceeds are intended for general corporate purposes as described in the prospectus supplement. The company also reaffirmed its compliance with various regulatory, health care, and data privacy laws in its representations.