BUZZ-Oruka shares drop after mid-stage trial data on psoriasis drug

September 23 - ** Shares of pharmaceutical research company Oruka Therapeutics (ORKA.O) fell 3.8% in premarket trading to $91

** The company said its experimental drug ORKA-001 showed continued improvement in skin clearance rates during a mid-stage clinical trial in patients with moderate to severe plaque psoriasis, a chronic disease that causes raised, scaly patches on the skin

** Approximately 71% of patients achieved complete skin clearance at week 28, up from about 64% at week 16; meanwhile, about 87% of patients experienced at least a 90% reduction in disease severity

** Stifel said that while it may be “slightly disappointing” that the data was not presented at the European Academy of Dermatology and Venereology (EADV) medical conference, the company believes these results confirm the drug’s efficacy and suggest it has the potential to reduce dosing frequency

** The brokerage noted that the complete clearance rate exceeded the approximately 50% to 55% observed for AbbVie’s (ABBV.N) Skyrizi in studies at the same stage

** ORKA is expected to announce complete 52-week study results in December and data from another mid-stage trial in the fourth quarter of 2026

** As of the close of the previous trading day, ORKA had gained 211.9% so far this year

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