Oruka Therapeutics reported Phase 2 results for ORKA-001 in plaque psoriasis, showing complete skin clearance (PASI 100) in 40 of 63 treated patients (63.5%) at 16 weeks versus 1 of 21 placebo recipients. Oruka also reported that 83% of patients achieved PASI 90 by the same time point, with safety signals consistent with IL-23-targeting monoclonal antibodies. The company said updated pharmacokinetic and exposure analyses support once-yearly dosing potential, while it prepares for late-stage studies. Analysts highlighted the data’s commercial implications, with Oruka framed as a potential challenger to blockbuster IL-23 therapies such as AbbVie’s Skyrizi and UCB’s Bimzelx. Shares rose on the news, underscoring how quickly competitive differentiation in autoimmune dermatology can reprice the pipeline.