Oruka Therapeutics (ORKA) announced that it has entered into a securities purchase agreement for a private investment in public equity financing that is expected to result in gross proceeds of approximately $180M to the company. The PIPE financing was led by Viking Global Investors, and included participation from both new and existing investors. Oruka is selling 10,933,405 shares of its common stock at a purchase price of $15.00 per share. The company expects that its cash will fund its operations for at least one year following the ORKA-002 Phase 2 and ORKA-001 EVERLAST-B Phase 2b data readouts in 2027. Jefferies, TD Cowen, Guggenheim Securities and LifeSci Capital are acting as joint placement agents for the PIPE financing.
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