Oruka Therapeutics Inc（ABIO）資訊與事件ABIOOruka Therapeutics Inc

Oruka announces closing of merger with ARCA Biopharma

Oruka Therapeutics (ORKA) announced the completion of its previously announced merger with ARCA biopharma (ABIO). The combined company will operate under the name Oruka Therapeutics, Inc., and its shares are expected to begin trading on the Nasdaq Global Market today, September 3, 2024, under the ticker symbol "ORKA". In addition, Oruka announced the appointment of Samarth Kulkarni, PhD, current Chairman and CEO of CRISPR Therapeutics (CRSP), as Chairman of Oruka's Board of Directors. Concurrent with the merger, Oruka completed a previously announced $275 million private placement with a syndicate of new and existing investors including Fairmount, Venrock Healthcare Capital Partners, RTW Investments, Access Biotechnology, Commodore Capital, Deep Track Capital, Perceptive Advisors, Blackstone Multi-Asset Investing, Avidity Partners, Great Point Partners LLC, Paradigm BioCapital, Braidwell LP and Redmile Group, along with multiple large investment management firms. Following the merger, private placement, and reverse stock split, there are approximately 46.3 million shares of the combined company's common stock and common stock equivalents outstanding, including shares of common stock underlying pre-funded warrants and Series B non-voting convertible preferred stock, and excluding employee and director equity. ORKA-001 is a novel, subcutaneously administered, half-life extended monoclonal antibody targeting IL-23p19. Inhibitors of IL-23p19 have become the preferred first-line therapy for patients with moderate-to-severe plaque psoriasis given their strong efficacy and safety profile. Currently approved therapies are dosed four to six times per year and deliver PASI 100, or fully clear skin, for less than half of patients after four months. ORKA-001 has the potential to be dosed just once or twice a year and is designed to achieve higher exposures than currently marketed IL-23p19 antibodies, which could lead to higher rates of disease clearance. ORKA-002 is a novel, SQ administered, half-life extended monoclonal antibody targeting IL-17A/F. Dual inhibition of IL-17A and F has resulted in high PASI 100 rates in psoriasis and is ideally suited to patients with concurrent psoriatic arthritis or recalcitrant skin disease. IL-17A/F inhibition has also shown promising efficacy in other diseases such as hidradenitis suppurativa and axial spondyloarthritis. ORKA-002 is designed to provide patients an option with substantially less frequent dosing, while offering similar levels of disease clearance compared to currently marketed agents.

ARCA Biopharma updates on special dividend related to Oruka merger

ARCA biopharma "announced an update to the previously announced final amount of the special cash dividend, which will now equal $1.613 per share of ARCA's common stock, payable on August 28, 2024, to ARCA's stockholders of record as of August 26, 2024. The Special Dividend was declared by ARCA's Board of Directors on August 16, 2024, in connection with the previously announced merger with Oruka Therapeutics, Inc., pursuant to the Agreement and Plan of Merger and Reorganization, dated April 3, 2024. The exact amount of the Special Dividend was calculated in accordance with the Merger Agreement and based on ARCA's reasonable, good faith approximation of the amount by which ARCA's net cash, as determined prior to the closing of the Merger, will exceed $5,000,000."

ARCA Biopharma announces 1-for-12 reverse stock split

ARCA Biopharma announced that its board of directors has approved a reverse stock split of ARCA's common stock at a ratio of 1-for-12. ARCA's common stock is expected to begin trading on a post-reverse stock split basis on Nasdaq on September 3, under the new name Oruka Therapeutics and under the new symbol (ORKA) following the anticipated closing of the merger with Oruka Therapeutics. The reverse stock split was approved by ARCA's stockholders at ARCA's special meeting of stockholders held on August 22, to be effected in the board's discretion of not less than 1-for-6 and not more than 1-for-12. The final reverse stock split ratio of 1-for-12 was approved by the board on August 22.