ARCA biopharma, Inc. ( (ORKA) ) has released its Q4 earnings. Here is a breakdown of the information ARCA biopharma, Inc. presented to its investors.
Oruka Therapeutics, Inc., a clinical-stage biotechnology company, is focused on developing novel biologics for the treatment of chronic skin diseases, particularly plaque psoriasis. The company recently reported its fourth quarter and full year 2024 financial results, highlighting significant progress in its clinical pipeline and financial standing.
In 2024, Oruka successfully went public and raised over $475 million, ensuring a cash runway through 2027. The company is advancing its lead candidate, ORKA-001, with a Phase 1 trial initiated ahead of schedule and plans for a Phase 2a trial in 2025. ORKA-002 is also progressing, with a Phase 1 trial expected to start in the third quarter of 2025.
Financially, Oruka ended 2024 with $394 million in cash and marketable securities. The company reported a net loss of $25.8 million for the fourth quarter and $83.7 million for the full year, reflecting its investment in research and development. Despite these losses, Oruka’s financial position remains strong due to its successful fundraising efforts.
Looking ahead, Oruka aims to deliver clinical catalysts every six months, potentially establishing ORKA-001 and ORKA-002 as leading treatments for psoriatic disease. The company’s management remains optimistic about its pipeline’s potential to redefine treatment standards in dermatology.