Oruka Therapeutics

Q2 FY2026 EarningsQ2 FY26 net loss of $41.2M was wider than the $35.2M consensus, primarily driven by accelerated R&D investment for core programs ORKA-001 and ORKA-002. GAAP EPS of -$0.55 was slightly below the -$0.5353 consensus mean, though it landed exactly on the analyst median. The company maintains a fortress balance sheet with $1.1B in cash, bolstered by a $700M upsized offering, providing a clear runway through the BLA filing for ORKA-001.