Oruka Therapeutics, Inc.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
ORKA$109.50+4.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share data)
| Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2025 | Period from February 6, 2024 (inception) to September 30, 2024 | |
|---|---|---|---|---|
| Operating expenses: | ||||
| Research and development(1) | $28,988 | $25,691 | $73,000 | $49,557 |
| General and administrative(2) | 5,117 | 3,758 | 14,620 | 8,248 |
| Total operating expenses | 34,105 | 29,449 | 87,620 | 57,805 |
| Loss from operations | (34,105) | (29,449) | (87,620) | (57,805) |
| Other income (expense): | ||||
| Interest income | 3,832 | 1,330 | 11,781 | 1,330 |
| Interest expense(3) | — | (504) | — | (1,468) |
| Other expense, net | (4) | — | (11) | — |
| Total other income (expense), net | 3,828 | 826 | 11,770 | (138) |
| Net loss | (30,277) | (28,623) | (75,850) | (57,943) |
| Net change in unrealized gains (losses) on marketable securities | 212 | — | 226 | — |
| Comprehensive loss | $(30,065) | $(28,623) | $(75,624) | $(57,943) |
| Net loss per share attributable to common stockholders, basic and diluted | $(0.55) | $(1.46) | $(1.40) | $(6.08) |
| Net loss per share attributable to Series A non-voting convertible preferred stockholders, basic and diluted | $— | $(1,461.10) | $— | $(6,077.25) |
| Net loss per share attributable to Series B non-voting convertible preferred stockholders, basic and diluted | $(45.46) | $(121.76) | $(116.94) | $(506.44) |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 44,067,059 | 15,013,655 | 42,622,935 | 7,765,381 |
| Weighted-average shares used in computing net loss per share attributable to Series A non-voting convertible preferred stockholders, basic and diluted | — | 477 | — | 184 |
| Weighted-average shares used in computing net loss per share attributable to Series B non-voting convertible preferred stockholders, basic and diluted | 137,138 | 49,191 | 137,138 | 19,015 |
| (1) | Includes related party amounts of $9,595 and $13,537 for the three months ended September 30, 2025 and September 30, 2024, respectively, and $15,998 and $33,967 for the nine months ended September 30, 2025 and the period from February 6, 2024 (inception) to September 30, 2024, respectively |
| (2) | Includes related party amounts of $8 and $71 for the three months ended September 30, 2025 and September 30, 2024, respectively, and $130 and $1,339 for the nine months ended September 30, 2025 and the period from February 6, 2024 (inception) to September 30, 2024, respectively |
| (3) | Includes related party amounts of nil and $504 for the three months ended September 30, 2025 and September 30, 2024, respectively, and nil and $1,468 for the nine months ended September 30, 2025 and the period from February 6, 2024 (inception) to September 30, 2024, respectively |
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