ORKA at a glance
Oruka Therapeutics, Inc. (ORKA, SEC CIK 907654) filed its latest 10-K annual report on March 12, 2026, a 10-Q quarterly report on August 10, 2026, an 8-K current report on August 24, 2026 and Form 4 insider filings as recently as October 2, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- As of June 30, 2026, 28 institutional investment managers tracked by SignalX reported holding Oruka Therapeutics, Inc. (ORKA) shares worth $2.6 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Klein Lawrence Otto on October 1, 2026 of 8,554 shares at $84.03 per share.
- In the last 90 days, ORKA insiders reported 0 open-market purchases ($0) and 49 open-market sales ($21.4M) on Form 4, a net sale of $21.4M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Insiders · 90 days
- 0 buys · 49 sells
- Net −$21.4M
- 13F holders
- 28 funds
- $2.6B · +3 vs prior quarter
- Latest 8-K
- Aug 24, 2026
- Item 5.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Clinical-stage biopharma developing novel monoclonal antibodies for psoriasis and inflammatory/immunology indications
- New emphasis: Acquisition and rebranding of Pre-Merger Oruka in 2024, launching dual lead programs ORKA-001 and ORKA-002 targeting IL-23p19 and IL-17A/F
- Strategic shift: Leveraging advanced antibody engineering for extended half-life, aiming for reduced dosing frequency (up to twice yearly) and improved efficacy vs standard-of-care
- Quantitative highlight: Initiated multiple Phase 2 trials; ORKA-001 Phase 2a enrolled 84 patients, Phase 2b expected to enroll 160 patients; ORKA-002 Phase 2 planned to enroll 160 patients
- Noteworthy fact: ORKA-001 demonstrated ~100-day half-life in Phase 1; ORKA-002 showed ~75-80 day half-life, supporting potential twice-yearly dosing schedules
Risk Factors
- FDA regulatory delays risk impacting approval timeline for product candidates ORKA-001 and ORKA-002 amid ongoing Phase 1 and Phase 2 trials
- Geopolitical tensions and elevated interest rates contributing to market volatility that may hinder timely capital raises for ongoing clinical development
- Dependency on third-party manufacturers and single-source suppliers for drug delivery devices poses risk of supply interruptions or delayed regulatory approvals
- Competitive pressure from larger biopharma firms with greater resources and existing immunology programs threatens market penetration for Oruka’s candidates
- High dilution risk from recent equity raises totaling over 16 million shares and $38.9 million net proceeds under at-the-market offering through March 2026
Management Discussion & Analysis
- No revenue generated; net loss $105.4M for 2025; accumulated deficit $189.2M as of December 31, 2025
- Operating cash flow negative $88.2M; cash, equivalents, and marketable securities $479.6M at year-end
- No segments reporting revenue; focus on clinical-stage pipeline with lead programs ORKA-001 and ORKA-002 in Phase 1/2 trials
- Capital raised $275M in Pre-Closing Financing; $20.5M transaction costs reduce equity; no dividends or buybacks disclosed
- Management expects losses to continue; Phase 2 data releases anticipated in 2026-2027; FDA timelines uncertain, key risk regulatory review duration
AI summary of the ORKA 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Risk Factors
- Newly triggered operational risk: ORKA-002 Phase 2 trials commenced in psoriasis and hidradenitis suppurativa during February 2026 and recently
- Most material financial update: April 2026 offering issued 9,660,000 shares for $658.3 million net proceeds
- Regulatory risk: FDA or other authorities may require additional data, delaying approval timelines and increasing development costs
- Competitive risk: Increased competition for I&I trial enrollment could delay development and weaken competitive positioning
- Financial risk: At-the-market offering generated $161.4 million net proceeds as of July 31, 2026, with further dilution potential
AI summary of the ORKA 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Todd Edwards appointed Chief Commercial Officer effective August 24, 2026, adding commercialization leadership from Arcutis, Incyte, and UCB
- Annual base salary $525,000, with discretionary bonus targeted at 40% of salary
Item 2.02: Results of Operations and Financial Condition
- Item 2.02 text contains only incorporation-by-reference and liability disclaimers
- No earnings figures, reporting period, or operating results provided; investor-relevant details likely reside in the referenced exhibit
Item EX-99.1: Item EX-99.1
- Q2 net loss widened to $41.2M from $24.6M as R&D rose to $43.3M from $24.1M
- $1.1B cash, equivalents and securities expected to fund operations through ORKA-001’s anticipated BLA filing
Item 5.07: Submission of Matters to a Vote of Security Holders
- Stockholders elected Lawrence Klein and Chris Martin as Class II directors through the 2029 annual meeting
- Director elections received 43.9 million votes each, with 1.27 million broker non-votes
AI summaries of ORKA 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for ORKA
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- Fund moves. Which tracked funds opened, added or cut ORKA, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Klein Lawrence Otto | Sell | Oct 1, 2026 | 8,554 | $84.03 |
| Klein Lawrence Otto | M | Oct 1, 2026 | 25,000 | $7.80 |
| Klein Lawrence Otto | M | Oct 1, 2026 | 25,000 | - |
| Klein Lawrence Otto | Sell | Oct 1, 2026 | 200 | $84.78 |
| Klein Lawrence Otto | Sell | Oct 1, 2026 | 16,246 | $83.40 |
| Agarwal Arjun | Sell | Sep 21, 2026 | 533 | $95.75 |
| Quinlan Paul T | Sell | Sep 21, 2026 | 2,667 | $95.31 |
| Quinlan Paul T | Sell | Sep 21, 2026 | 2,900 | $92.37 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Operating Income | -$7.3M | -$88.1M | -$122.1M |
| Net Income | -$5.3M | -$83.7M | -$105.4M |
| Balance Sheet | |||
| Total Assets | $37.9M | $396.0M | $488.6M |
| Equity | $37.0M | $382.2M | $471.9M |
| ROE | -14.4% | -21.9% | -22.3% |
| Per Share | |||
| EPS | $-0.37 | $-3.87 | - |
| Cash Flow | |||
| Operating CF | -$5.0M | -$57.8M | -$88.2M |
| CapEx | $0 | $189K | $209K |
Source: XBRL data in Oruka Therapeutics, Inc. (ORKA)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate ORKA share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 28 | $2.61B |
| Q1 2026 | 25 | $1.05B |
| Q4 2025 | 22 | $635.9M |
| Q3 2025 | 22 | $349.0M |
| Q2 2025 | 20 | $143.7M |
| Q1 2025 | 13 | $99.9M |
| Q4 2024 | 7 | $159.1M |
| Q3 2024 | 1 | $20.0M |
- FMR LLC (Fidelity)+1.63M (+22%)
- BlackRock+1.46M (+41%)
- State Street Corp+1.06M (+66%)
- JPMorgan Chase & Co+632.4K (+2796%)
- Franklin Resources+617.4K (+61%)
- Viking Global Investors−1.16M (-44%)
- Morgan Stanley−99.1K (-56%)
- Goldman Sachs Group−67.3K (-27%)
- U.S. Bancorp−671 (-14%)
- Blackstone Group+237.1K
- Ameriprise Financial+72.7K
- Principal Financial Group+39.8K
- Millennium Management+32.9K
- Two Sigma Investments−19.4K
Source: 13F-HR filings on SEC EDGAR (aggregated from 138 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
ORKA filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Sep 21, 2026 | - | - | - |
| 4 | Sep 21, 2026 | - | - | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Aug 25, 2026 | - | - | - |
| 8-K | Aug 24, 2026 | - | Analysis | - |
| 4 | Aug 17, 2026 | - | - | - |
| 4 | Aug 14, 2026 | - | - | - |
| SC 13G | Aug 14, 2026 | - | - | |
| 4 | Aug 14, 2026 | - | - | - |
| SC 13G | Aug 12, 2026 | - | - | |
| 10-Q | Aug 10, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 10, 2026 | - | Analysis | - |
| 4 | Jul 15, 2026 | - | - | - |
| 4 | Jul 13, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 15, 2026 | - | - | - |
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ORKA SEC filings: frequently asked questions
Are ORKA insiders buying or selling?
In the last 90 days, Oruka Therapeutics, Inc. (ORKA) officers, directors and 10% owners reported no open-market purchases and 49 open-market sales worth $21.4 million by 5 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold ORKA stock?
As of June 30, 2026, the largest Oruka Therapeutics, Inc. (ORKA) holders among the 13F filers tracked by SignalX were FMR LLC (Fidelity) ($862.0 million), BlackRock ($474.9 million), State Street Corp ($254.4 million), Vanguard Capital Management LLC ($224.7 million), Franklin Resources ($154.3 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What are the main risks in ORKA's latest 10-K?
In the 10-K filed March 12, 2026, Oruka Therapeutics, Inc. (ORKA) flagged: FDA regulatory delays risk impacting approval timeline for product candidates ORKA-001 and ORKA-002 amid ongoing Phase 1 and Phase 2 trials. Geopolitical tensions and elevated interest rates contributing to market volatility that may hinder timely capital raises for ongoing clinical development. (AI summary of the Risk Factors section.)
What did ORKA report in its latest 8-K?
Oruka Therapeutics, Inc. (ORKA) filed an 8-K on August 24, 2026 reporting Item 5.02 (Departure/Appointment of Directors or Principal Officers). Todd Edwards appointed Chief Commercial Officer effective August 24, 2026, adding commercialization leadership from Arcutis, Incyte, and UCB.
What are the latest ORKA SEC filings?
Oruka Therapeutics, Inc. (ORKA) filed its latest 10-K annual report on March 12, 2026, a 10-Q quarterly report on August 10, 2026, an 8-K current report on August 24, 2026 and a Form 4 insider filing on October 2, 2026.
What is ORKA's SEC CIK number?
Oruka Therapeutics, Inc. (ORKA)'s SEC Central Index Key (CIK) is 907654. EDGAR lists every ORKA filing under that number.
Ask anything about ORKA
The research agent reads ORKA's filings, financials, insider trades and 13F holders, then answers with sources.