Quarterly ResultMay 13, 2026, 04:08 PM
Oruka Therapeutics Q1 Net Loss $31.8M; R&D Expenses Up 46%
AI Summary
Oruka Therapeutics reported a net loss of $31.8 million for the first quarter of 2026, widening from $21.0 million in the prior year. This was primarily driven by a 46% increase in research and development expenses to $29.1 million and a 41% rise in general and administrative expenses to $7.3 million. The company strengthened its liquidity with $38.9 million in net proceeds from an at-the-market offering, bringing total cash, cash equivalents, and marketable securities to $496.0 million as of March 31, 2026.
Key Highlights
- Q1 2026 net loss widened to $31.8 million from $21.0 million YoY.
- Net loss per common share was $(0.48) in Q1 2026, up from $(0.40).
- Research and development expenses increased 46% to $29.1 million.
- General and administrative expenses rose 41% to $7.3 million.
- Net proceeds of $38.9 million from at-the-market offering.
- Cash, equivalents, marketable securities totaled $496.0 million.
- Accumulated deficit reached $221.0 million as of March 31, 2026.
- Net cash used in operating activities was $23.6 million.