Leerink expects Oruka Therapeutics (ORKA) shares to trade higher following MoonLake Immunotherapeutics’ (MLTX) disclosure of mixed Phase 3 results for sonelokimab in hidradenitis suppurativa. Oruka is developing ORKA-002, which unlike sonelokimab has a highly similar mechanism of action to Bimzelx, says the analyst, who continues to see the potential for ORKA-002 to offer the greatest dosing convenience among IL-17/F drugs. The firm keeps an Outperform rating on Oruka shares, which are up $4.41, or 29%, to $19.61 in Monday afternoon trading.
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