Q1 Financials; EVERLAST Has the Strength. How About the Endurance?

研报英文原文证据摘录

Q1 Financials; EVERLAST Has the Strength. How About the Endurance?

Company Report

May 14, 2026 Oruka Therapeutics, Inc. (ORKA)

Rating: Q1 Financials; EVERLAST Has the Strength. How About theOUTPERFORM Endurance?Price:

$63.18

12-Month Price Target: The Wedbush View

$165.00

ORKA reported earnings and reiterated timeline guidance including follow-up

Analysts results for EVERLAST-A (ORKA-001 for psoriasis) in 2H26. All patients will have at

Martin Fan, Ph.D. least 28 weeks of follow-up, and a subset will have 52 weeks of follow-up. We look

(213) 688-3404 for whether responses will deepen through 28 weeks, consistent with other late-Martin.Fan@wedbush.com stage candidates and approved drugs in psoriasis, and whether maintenance ofDavid Nierengarten, Ph.D.

(415) 274-6862 responses could support once-yearly or as-needed dosing. EADV on Sep. 30 to Oct.

David.Nierengarten@wedbush.com 3 is a likely venue in our opinion.

Dennis Pak Additional data catalysts are planned for 2027 including first results from Ph 2b(415) 263-6647

Dennis.Pak@wedbush.com EVERLAST-B, a dose-ranging trial of ORKA-001 in psoriasis, and Ph 2 ORCA-SURGE,

which will provide initial validation of ORKA-002 (IL-17A/F HLE mAb) in psoriasis.

With validation of additional ORKA-001 differentiators later this year, ORKA shares

Company Information could have room to run following maintenance data.

Market Cap (M) $4,208

Enterprise Value (M) $3,079 ORKA ended the quarter with $496.0MM of cash, cash equivalents, and

Shares Outst (M) 66.6 investments. With a $700MM follow-on, the company expects runway through an

52-Week Range $8.91 - $91.00 anticipated BLA filing, which we interpret as into 2030.Cash/sh $16.95

Tangible Book Value/sh $9.63

Net Debt (M) $(337.04) Upcoming Milestones: