Oruka shares rose 11.69% to $89.52 in intraday trading on October 26, 2026, following positive Week 16 results from its EVERLAST-B Phase 2b trial in moderate-to-severe plaque psoriasis. The study met its primary endpoint, and the company expects to begin Phase 3 trials in the first half of 2027, subject to discussions with regulators.

Oruka shares advance as trial meets primary endpoint

The Nasdaq-listed stock gained $9.37 from its previous close of $80.15. Shares opened at $81.98 and traded between $81.98 and $91.58 during the session. The quoted gain was an intraday snapshot, not a closing result.

At Week 16, 61% of patients receiving the high 600 mg dose of ORKA-001 achieved complete skin clearance, measured as PASI 100, compared with none receiving placebo.

The high-dose group also recorded response rates of 86% on both PASI 90 and IGA 0/1. These results provide additional measures of skin improvement alongside the complete-clearance finding.

Phase 3 timing depends on regulatory discussions

Oruka’s ORKA-001 program description identifies the experimental antibody as targeting the p19 subunit of interleukin-23, a cytokine involved in inflammatory disease. The company has engineered the program for extended circulation, with the aim of reducing dosing frequency; that design objective is separate from the latest trial’s reported efficacy results.

ORKA-001 was generally well tolerated in EVERLAST-B, with no serious treatment-emergent adverse events reported in the high-dose group. That finding applies to the specified treatment group and does not establish an absence of all adverse events.

Oruka plans to discuss Phase 3 development with regulators. Pending those discussions, it expects to start Phase 3 trials using the 600 mg dose in the first half of 2027. The timetable remains a company expectation rather than a confirmed trial start.

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