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Friday 6 November 2026
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Oruka Therapeutics, Inc.
ORKA Healthcare Biotechnology
- EPS
- −19.6%
- Free cash flow
- −43.0%
Quarter to June 2026, against a year earlier
102.68
6.66
+6.94%
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Target Price Range
Analyst price targets
Free accountTen years at a glance
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Gross margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | 0.00 | 0.0 pt | ||||||
| EBT | (16) | (19) | (8) | (6) | (10) | (19) | (10) | (5) | (84) | (105) | (133) | +22.9% | ||||||
| EBT margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| Net income | (16) | (18) | (8) | (5) | (10) | (19) | (10) | (5) | (84) | (105) | (133) | +22.9% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | n/m | |||||
| Earnings | (390.80) | (382.17) | (123.07) | (49.82) | (24.85) | (16.69) | (8.28) | (4.44) | (3.87) | (1.85) | (2.12) | (44.8%) | ||||||
| Cash flow | (356.83) | (361.74) | (128.61) | (43.65) | (19.69) | (16.20) | (9.09) | (4.18) | (3.44) | (1.93) | (1.61) | (44.0%) | ||||||
| Capex | (0.29) | (0.06) | (0.06) | (0.04) | (0.05) | (0.04) | 0.00 | 0.00 | (0.01) | 0.00 | 0.00 | (36.8%) | ||||||
| Free cash flow | (357.12) | (361.80) | (128.67) | (43.68) | (19.74) | (16.24) | (9.09) | (4.18) | (3.46) | (1.94) | (1.61) | (44.0%) | ||||||
| Book value | 528.43 | 212.73 | 94.10 | 69.18 | 118.59 | 44.07 | 34.72 | 30.83 | 22.77 | 10.35 | 17.73 | (35.4%) | ||||||
| Shares, m | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 17 | 46 | 52 | +117.4% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | — | — | 0 | — | |||||
| P/S | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| P/B | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| EV/Sales | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| EV/FCF | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (15) | (17) | (8) | (5) | (8) | (19) | (11) | (5) | (58) | (88) | (101) | +21.8% | |||||
| Capex | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — | 0 | 0 | 0 | +37.4% | ||||||
| Free cash flow | (15) | (17) | (8) | (5) | (8) | (19) | (11) | (5) | (58) | (88) | (101) | +21.8% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 19 | 10 | 6 | 8 | 46 | 51 | 42 | 37 | 364 | 328 | 862 | +37.2% | |||||
| Net debt | (21) | (12) | (7) | (8) | (49) | (53) | (42) | (37) | (376) | (337) | (874) | +36.0% | ||||||
| Shareholders’ equity | 22 | 10 | 6 | 8 | 47 | 51 | 42 | 37 | 382 | 472 | 1,115 | +40.4% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (51.23) | (99.96) | (82.68) | (71.38) | (33.03) | (36.68) | (20.26) | (13.19) | (38.59) | (23.84) | (17.76) | +27.4 pt | |||||
| ROIC | (1,007.09) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (837.93) | (56.55) | (40.22) | +950.5 pt | ||||||
| ROE | (54.57) | (113.89) | (97.30) | (80.37) | (35.98) | (39.61) | (21.41) | (13.57) | (40.22) | (24.86) | (18.30) | +29.7 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 20 | 20 | 15 | 13 | 14 | 19 | 12 | 5 | 36 | 68 | — | +14.6% | |||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fundamentals updated 26 Oct 2026
Business profile
Oruka Therapeutics, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| AXSM Axsome Therapeutics, Inc. | $6.8B | — (loss-making) | — (loss-making) | +51.87% (above 0%: growing) | n/m | −1,078.34% (below 0%: shrinking) | 93.14% | (4.26%) | Compare |
| IONS Ionis Pharmaceuticals, Inc. | $6.5B | — (loss-making) | — (loss-making) | −40.73% (below 0%: shrinking) | n/m | +299.29% (above 0%: growing) | 98.98% | (38.18%) | Compare |
| ORKA Oruka Therapeutics, Inc. | $6.4B | — (loss-making) | — | — | n/m | −43.00% (below 0%: shrinking) | 0.00% | 0.00% | |
| MIRM Mirum Pharmaceuticals, Inc. | $6.1B | — (loss-making) | — (loss-making) | +39.63% (above 0%: growing) | n/m | −114.22% (below 0%: shrinking) | 81.06% | (32.17%) | Compare |
| LGND Ligand Pharmaceuticals Incorporated | $6.0B | 116× | 88.3× | −31.80% (below 0%: shrinking) | n/m | −268.45% (below 0%: shrinking) | 96.63% | (20.01%) | Compare |
| IMVT Immunovant, Inc. | $5.9B | — (loss-making) | — | — | n/m | −5.96% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| BLTE Belite Bio, Inc. Sponsored ADR | $5.8B | — (loss-making) | — | — | n/m | +64.67% (above 0%: growing) | — | 0.00% | Compare |
| CGON CG Oncology, Inc. | $5.7B | — (loss-making) | — (loss-making) | +2,125.00% (above 0%: growing) | n/m | −67.60% (below 0%: shrinking) | (239.24%) | (7,467.68%) | Compare |
| KOD Kodiak Sciences Inc. | $5.7B | — (loss-making) | — | — | n/m | −33.86% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| Median of peers | $5.9B | — | — | +39.63% | — | −50.73% | 81.06% | (12.13%) |
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
121.35%
Held by the ten largest
63.16%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Fidelity (FMR) | 9.06m | 14.83% | +1.63m |
| BlackRock | 4.99m | 8.17% | +1.46m |
| Venrock Adviser, LLC | 4.15m | 6.79% | 0.00 |
| Fairmount Funds Management LLC | 3.71m | 6.07% | 0.00 |
| Capital Group | 3.40m | 5.57% | +3.40m |
| Vanguard | 3.37m | 5.51% | +857.48k |
| RTW INVESTMENTS, LP | 3.14m | 5.14% | +1.08m |
| State Street | 2.67m | 4.38% | +1.06m |
| Paradigm Biocapital Advisors LP | 2.14m | 3.51% | −175.79k |
| T. Rowe Price | 1.94m | 3.18% | +1.21m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 17 April 2026
Ownership
Directors and executive officers, together
23.49%
Entities affiliated with Fairmount Funds Management LLC
19.99%
Peter Harwin
19.99%
FMR LLC
14.79%
Entities affiliated with Venrock Healthcare Capital Partners
9.99%
Entities affiliated with BlackRock, Inc.
6.47%
Entities affiliated with Viking Global Investors LP
5.43%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Oruka Therapeutics is a clinical-stage biotechnology company developing antibody medicines for psoriasis and other inflammatory diseases. Its predecessor was founded in 2024. Oruka has no products approved for commercial sale, so it is developing potential treatments rather than selling medicines today.
Its lead candidate, ORKA-001, is designed for psoriasis, a chronic autoimmune disease that can cause inflamed skin plaques. It targets IL-23p19, part of a signaling protein involved in inflammation. Oruka has engineered the antibody to remain in the body longer, with the aim of reducing how often patients need injections.