M&A - Oruka Therapeutics, Inc.

Form Type: 10-Q

Filing Date: 2025-05-14

Corporate Action: Merger

Type: Update

Accession Number: 000121390025043279

Filing Summary: Oruka Therapeutics, Inc., formerly ARCA biopharma, completed a reverse recapitalization through a merger with Pre-Merger Oruka on August 29, 2024. Following the merger, the company rebranded and executed a 1-for-12 reverse stock split effective September 3, 2024. As of March 31, 2025, the company reported total assets of $377.1 million and a net loss of $20.999 million for the quarter. The financial statements reflect significant operating expenses primarily in research and development. As of the reporting date, Oruka had 37.4 million shares of common stock outstanding and expects that its current cash and securities will meet operational needs for at least 12 months. Management continues to evaluate future financing needs to support research and development activities.

Form Type: 10-K

Filing Date: 2025-03-06

Corporate Action: Merger

Type: Update

Accession Number: 000121390025021165

Filing Summary: On March 6, 2025, Oruka Therapeutics, Inc. reported on its recent activities including the completion of its acquisition of Pre-Merger Oruka on August 29, 2024. This acquisition involved a merger under an Agreement and Plan of Merger, where Pre-Merger Oruka merged with Atlas Merger Sub Corp. Subsequently, it merged into Atlas Merger Sub II, LLC, which became the surviving entity and was renamed Oruka Therapeutics Operating Company, LLC. The company is focused on developing therapeutic antibodies, with pipeline products including ORKA-001 targeting IL-23p19 for psoriasis and ORKA-002 targeting IL-17A/F for a range of inflammatory and immunology conditions. The report outlines their strategic approach to address unmet needs in the clinical landscape, leveraging advanced antibody engineering and validated targets for improved outcomes.