MENLO PARK, Calif., April 27, 2026 (GLOBE NEWSWIRE) -- Oruka Therapeutics, Inc. (NASDAQ:ORKA), a clinical-stage biopharmaceutical company focused on developing novel monoclonal antibody therapeutics for psoriasis and other inflammatory and immunology indications, today announced that it has commenced an underwritten public offering of $500 million of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock. In addition, Oruka expects to grant the underwriters a 30-day option to purchase up to an additional $75 million of shares of its common stock at the public offering price, less underwriting discounts and commissions. The proposed public offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. All of the shares of common stock and pre-funded warrants are being offered by Oruka.

Leerink Partners, TD Cowen, Goldman Sachs & Co. LLC, Stifel and Guggenheim Securities are acting as joint bookrunning managers for the proposed offering. LifeSci Capital is acting as passive bookrunning manager for the proposed offering.

A shelf registration statement on Form S-3 (File No. 333-294852) relating to these securities has been filed with the Securities and Exchange Commission (the "SEC") and became effective on April 10, 2026.  This offering is being made solely by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. A copy of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from: Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, ...