SCHEDULE: Venrock Entities Hold 7.4% Stake in Oruka Therapeutics

Several Venrock-affiliated entities and individuals have reported a combined beneficial ownership of 7.4% in Oruka Therapeutics, Inc. common stock as of June 30, 2026.

Summary

• The filing indicates that Venrock Healthcare Capital Partners III, L.P., VHCP Co-Investment Holdings III, LLC, and Venrock Healthcare Capital Partners EG, L.P., along with VHCP Management III, LLC, VHCP Management EG, LLC, Nimish Shah, and Bong Koh, collectively hold a 7.4% stake in Oruka Therapeutics, Inc.
• This ownership, as of June 30, 2026, amounts to 4,556,952 shares of common stock and pre-funded warrants.
• The reporting persons are considered a group for the purposes of this Schedule 13G/A filing.
• The total shares outstanding used for percentage calculation includes shares outstanding as of April 30, 2026, plus shares issued upon warrant exercise and shares issuable upon pre-funded warrant exercise.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as neutral to slightly positive, reflecting a significant but stable ownership stake without immediate indications of aggressive action or distress.

Positives

• Significant ownership stake (7.4%) by established investment entities suggests continued confidence or strategic interest in Oruka Therapeutics.
• The reporting persons are organized and have clearly defined roles within the group, indicating a structured investment approach.

Negatives

• The filing does not provide specific details on the investment strategy or the rationale behind the current ownership level.
• The ownership percentage is based on a calculation that includes outstanding shares and shares issuable from warrants, which could fluctuate.

Risks

• Potential for future changes in ownership percentage if the reporting persons decide to increase or decrease their stake.
• The reliance on pre-funded warrants and other warrants introduces a layer of complexity to the exact beneficial ownership calculation.

Future Outlook

The filing itself does not contain forward-looking statements or specific guidance from Oruka Therapeutics. It is a disclosure of beneficial ownership.

Management Comments

• The reporting persons certify that the securities were not acquired or held for the purpose of or with the effect of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than in connection with a nomination under Rule 240.14a-11.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors accumulating significant stakes in public companies. The healthcare sector, where Oruka Therapeutics operates, often sees such strategic investments from specialized funds like Venrock.

Stakeholder Impact

• Shareholders: The significant stake held by Venrock entities may influence corporate governance and strategic decisions, potentially impacting shareholder value.
• Management: The reporting persons' certification suggests they are not seeking to control the company, which could be viewed positively by current management.

Next Steps

• The reporting persons will continue to monitor their beneficial ownership in Oruka Therapeutics.
• Future filings will be made if ownership levels change significantly or as required by regulations.

Key Dates

Keywords

Oruka Therapeutics, Schedule 13G, Venrock, Beneficial Ownership, Common Stock, Pre-funded Warrants, Investment Group