On Monday, Oruka Therapeutics (NASDAQ:ORKA) received a positive outlook from H.C. Wainwright, as the firm initiated coverage on the biotech company with a Buy rating and a 12-month price target of $45 per share. The coverage is buoyed by the company's development of next-generation biologics for inflammation and immunology (I&I).
Oruka Therapeutics is currently progressing with its lead program, ORKA-001, a half-life extended IL-23p19 inhibitor designed for the treatment of psoriasis (PsO). IL-23p19 inhibitors have been established as an effective class of medicines, with AbbVie (NYSE:ABBV)'s Skyrizi leading the market and generating significant sales.
The company's pipeline also includes ORKA-002, a half-life extended IL-17A/F inhibitor for psoriatic arthritis (PsA) and PsO. This class of drugs is gaining recognition as the emerging standard for IL-17 inhibition, with competitors like UCB's bimekizumab and MoonLake's sonelokimab (SLK) expected to become dominant in this segment.
H.C. Wainwright's commentary highlighted the potential of IL-17A/F-targeted drugs to replicate the success of existing multi-blockbuster franchises such as Skyrizi, Johnson & Johnson (NYSE:JNJ)'s Tremfya, and Novartis (SIX:NOVN)' Cosentyx. These drugs have already proven their worth in the market, paving the way for Oruka Therapeutics' candidates to make a significant impact in the field of I&I.
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