Biotech stock Oruka Therapeutics (ORKA) skyrocketed Wednesday on promising test results for what could be a once-annual shot to treat plaque psoriasis.
In Phase 1 testing, Oruka’s ORKA-001 showed a half-life of roughly 100 days. Half-life is how long it takes for the drug’s concentration in the body to decrease by 50%. According to Oruka, that’s more than three times longer than the half-life of AbbVie’s (ABBV) blockbuster psoriasis treatment, Skyrizi. A longer half-life means a drug requires fewer doses.
The half-life exceeded even Oruka Therapeutics’ own expectations, Chief Executive Lawrence Klein said in a written statement.
“We are increasingly confident that ORKA-001 can redefine the standard of care in this important disease,” he said. “I’m very pleased with how quickly our team has progressed this program and by the enthusiasm we are hearing from investigators and patients.”
In premarket trading on today’s stock market, Oruka shares surged nearly 20% to 17.80. The biotech stock closed Tuesday sitting on a floor at its 50-day line.
More to follow.
Follow Allison Gatlin on X/Twitter at @AGatlin_IBD.
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