Oruka Stock Jumps 12.7% on Positive Week 16 Psoriasis Trial Data for ORKA-001

Oruka Therapeutics (Nasdaq: ORKA) rose 12.7% on Monday, Oct. 26, 2026, closing at $90.33 from a previous close of $80.15, while the S&P 500 ETF (SPY) gained 0.71%. Trading volume ran at about 2.2 times its usual level. The move followed the company's announcement of Week 16 results from its Phase 2b EVERLAST-B trial of ORKA-001, an investigational half-life extended IL-23p19 antibody for moderate-to-severe plaque psoriasis, disclosed in an 8-K and the press release and presentation filed with it.

High-dose group reached 61% clear skin

In the trial, 61% of patients in the 600 mg group achieved PASI 100 at Week 16, compared with 0% on placebo (p<0.0001). Another 86% reached PASI 90 and 86% reached IGA 0/1 in the same group. The company said these efficacy results were generally consistent with those from EVERLAST-A.

Safety profile

At least one treatment-emergent adverse event was reported in 39% of patients in the 600 mg group and 43% of placebo patients. No serious treatment-emergent adverse events occurred in the 600 mg group, and no injection site reactions were reported among patients receiving ORKA-001.

Next steps

Oruka plans to start Phase 3 trials with the 600 mg dose in the first half of 2027, subject to regulatory interactions, and expects 52-week EVERLAST-A results in December 2026. The company also expects Week 16 results from its ORKA-002 Phase 2 psoriasis trial in the first quarter of 2027. As of June 30, 2026, Oruka had $1.1 billion in cash, cash equivalents and marketable securities, which it said should fund operations through an anticipated BLA filing for ORKA-001.