Oruka announces closing of merger with ARCA Biopharma
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 03 2024
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Merger Announcement: Oruka Therapeutics has completed its merger with ARCA biopharma, now operating as Oruka Therapeutics, Inc., and will begin trading on Nasdaq under the ticker symbol "ORKA". The company also secured a $275 million private placement from various investors.
New Therapeutic Developments: Oruka is advancing two novel monoclonal antibodies, ORKA-001 targeting IL-23p19 for psoriasis with potential for less frequent dosing, and ORKA-002 targeting IL-17A/F, aimed at providing effective treatment options for patients with psoriasis and related conditions.
Analyst Views on CRSP
Wall Street analysts forecast CRSP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CRSP is 73.41 USD with a low forecast of 40.00 USD and a high forecast of 105.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
13 Buy
7 Hold
0 Sell
Moderate Buy
Current: 54.210
Low
40.00
Averages
73.41
High
105.00
Current: 54.210
Low
40.00
Averages
73.41
High
105.00
About CRSP
CRISPR Therapeutics AG is a Switzerland-based gene editing company focused on the development of CRISPR/Cas9-based therapeutics. CRISPR/Cas9 stands for Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)/CRISPR-associated protein 9 (Cas9) and is a technology for gene editing, the process of precisely altering specific sequences of genomic DNA. The Company aims to apply this technology to disrupt, delete, correct and insert genes to treat genetically-defined diseases and to engineer advanced cellular therapies. The Company has acquired the rights to the intellectual property (IP) encompassing CRISPR/Cas9 and related technologies and is also involved in its own IP research and additional in-licensing efforts. The Company product development and partnership strategies are designed to exploit the full potential of the CRISPR/Cas9 platform while maximizing the probability of successfully developing their product candidates.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
