Oruka Therapeutics reported strong Phase 2 psoriasis results for ORKA-001, including total skin clearance in 40 of 63 patients (63.5%) at 16 weeks. The company said 83% of patients achieved PASI 90, and it characterized the safety profile as consistent with IL-23–targeting antibodies. Oruka also presented updated blood-exposure analysis supporting a potential once-yearly dosing schedule, aiming to compete with established IL-23 drugs that require more frequent injections. Analysts and investors responded positively to the topline, with company shares rising on the readout. While Oruka did not run direct head-to-head comparisons, the company said its PASI outcomes compare favorably to previously reported results for market leaders. Late-stage programs will be critical for confirming durability and tolerability at scale.