What Oruka Therapeutics, Inc. told the SEC could break it.

Oruka has a sole-source supply relationship (via contract manufacturers it does not control) for its lead ORKA-001 and ORKA-002 antibody programs; any disruption or adverse event at the sole supplier could negatively affect clinical development while it works to qualify an alternate source.

“We currently have a sole source relationship for our supply of the ORKA-001 and ORKA-002 programs. If there should be any disruption in such supply arrangement, including any adverse events affecting our sole supplier, it could have a negative effect on the clinical development of our programs and other operations while we work to identify and qualify an alternate supply source.”

Oruka relies in part on collaborators/suppliers in China; U.S. tariffs imposed in April 2025 on imports from China (potentially extending to biologically-derived substances) and related geopolitical instability could increase costs and introduce delays into its development programs.

“For example, in April 2025, the United States government imposed significant tariffs on imports from China and other countries and may impose more restrictions on goods, including biologically derived substances, manufactured in or imported from China or other countries, or impose other restrictions on companies' ability to work with Chinese or other foreign counterparties.”