Core Viewpoint - Oruka Therapeutics has announced a PIPE financing agreement expected to generate approximately $180 million in gross proceeds to support its development of novel biologics for chronic skin diseases, particularly plaque psoriasis [1][3]. Financing Details - The PIPE financing involves the sale of 10,933,405 shares of common stock at $15.00 per share and pre-funded warrants for 1,066,666 shares at $14.999 each, with an exercise price of $0.001 per share [2]. - The transaction is anticipated to close around September 19, 2025, pending customary closing conditions [2]. Use of Proceeds - The net proceeds from the PIPE financing will be utilized for research and development, general corporate expenses, and working capital needs, with expectations that current cash will fund operations for at least one year following key clinical data readouts in 2027 [3]. Investor Participation - The PIPE financing was led by Viking Global Investors and included participation from various notable investors such as Affinity Healthcare Fund, Blackstone Multi-Asset Investing, and others [1][4]. Company Overview - Oruka Therapeutics focuses on developing biologics aimed at setting new treatment standards for chronic skin diseases, with a mission to provide significant relief to patients suffering from conditions like plaque psoriasis [7].
Oruka Therapeutics Announces $180 Million Private Placement