<SEC-DOCUMENT>0001213900-25-098802.txt : 20251014
<SEC-HEADER>0001213900-25-098802.hdr.sgml : 20251014
<ACCEPTANCE-DATETIME>20251014164345
ACCESSION NUMBER:		0001213900-25-098802
CONFORMED SUBMISSION TYPE:	S-3/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20251014
DATE AS OF CHANGE:		20251014

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Oruka Therapeutics, Inc.
		CENTRAL INDEX KEY:			0000907654
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				363855489
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-290718
		FILM NUMBER:		251392310

	BUSINESS ADDRESS:	
		STREET 1:		855 OAK GROVE AVE.
		STREET 2:		SUITE 100
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025
		BUSINESS PHONE:		650-606-7910

	MAIL ADDRESS:	
		STREET 1:		855 OAK GROVE AVE.
		STREET 2:		SUITE 100
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARCA biopharma, Inc.
		DATE OF NAME CHANGE:	20090128

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUVELO INC
		DATE OF NAME CHANGE:	20030203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HYSEQ INC
		DATE OF NAME CHANGE:	19970610
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3/A
<SEQUENCE>1
<FILENAME>ea026112601-s3a1_oruka.htm
<DESCRIPTION>AMENDMENT NO. 1 TO FORM S-3
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>As
filed with the Securities and Exchange Commission on October 14, 2025</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Registration
No. 333-290718</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Amendment No. 1 to</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FORM
S-3</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>REGISTRATION
STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B></FONT></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ORUKA
THERAPEUTICS, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Exact
Name of Registrant as Specified in Its Charter)</FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; border-bottom: Black 1.5pt solid; width: 49%; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Delaware</B></FONT></TD>
    <TD STYLE="padding: 0pt; width: 2%; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; border-bottom: Black 1.5pt solid; width: 49%; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>36-3855489</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(State or
    Other Jurisdiction of<BR>
    Incorporation or Organization)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(I.R.S. Employer<BR>
    Identification Number)</FONT></TD></TR>
</TABLE>

<P STYLE="font: 5pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>855
Oak Grove Avenue</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Suite
100</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Menlo
Park, CA 94025</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(650)
606-7910</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Address,
Including Zip Code, and Telephone Number, Including Area Code, of Registrant&rsquo;s Principal Executive Offices)</FONT></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 4pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Paul
Quinlan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>General
Counsel and Corporate Secretary</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Oruka
Therapeutics, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>855
Oak Grove Avenue</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Suite
100</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Menlo
Park, CA 94025</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(650)
606-7910</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Name,
Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)</FONT></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 4pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Copies
to:</I></B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Alan
F. Denenberg</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Elizabeth
W. LeBow</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Davis
Polk &amp; Wardwell LLP</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>900
Middlefield Road</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Redwood
City, CA 94063</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(650)
752-2000</B></FONT></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Approximate
date of commencement of proposed sale to the public</B>: From time to time after this Registration Statement becomes effective.</FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check
the following box. &#9744;</FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following
box. &#9746;</FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the
following box and list the Securities Act registration statement number of the earlier effective registration statement for the same
offering &#9744;</FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective
upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. &#9744;</FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional
securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. &#9744;</FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo;
in Rule 12b-2 of the Exchange Act.</FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Large accelerated filer &#9744;</FONT></TD><TD STYLE="width: 25%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accelerated
                                            filer &#9744;</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-accelerated filer &#9746;</FONT></TD><TD STYLE="text-align: justify; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Smaller
                                            reporting company &#9746;</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: justify">Emerging
growth company &#9744;</TD></TR>
     </TABLE>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. &#9744;</FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>This registration statement shall hereafter become effective
in accordance with the provisions of section 8(a) of the Securities Act of 1933.</B> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">EXPLANATORY
NOTE&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> This Amendment No. 1 (&ldquo;Amendment No.
1&rdquo;) to the Registration Statement on Form S-3 (Registration No. 333-290718) of Oruka Therapeutics, Inc. is being filed solely for
the purpose of including language provided by Rule 473(b) of the Securities Act of 1933 for the automatic effectiveness of this registration
statement 20 days following the filing of Amendment No. 1. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
registration statement contains two prospectuses:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">a
                                            base prospectus, which covers the offering, issuance and sale by the Company of shares of
                                            its common stock, preferred stock, depositary shares and/or warrants from time to time in
                                            one or more offerings, which together shall have an aggregate offering price not to exceed
                                            $500,000,000; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">a
                                            sales agreement prospectus covering the offering, issuance and sale by the Company of up
                                            to a maximum aggregate offering price of $200,000,000 of its common stock that may be issued
                                            and sold from time to time under a sales agreement or the &ldquo;Sales Agreement&rdquo;,
                                            with TD Securities (USA) LLC, as sales agent.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
base prospectus immediately follows this explanatory note. The specific terms of any securities to be offered pursuant to the base prospectus
will be specified in one or more prospectus supplements to the base prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
prospectus relating to the Sales Agreement immediately follows the base prospectus. The $200,000,000 of shares of the Company&rsquo;s
common stock that may be offered, issued and sold pursuant to the Sales Agreement and under the sales agreement prospectus is included
in the $500,000,000 of securities that may be offered, issued and sold by the Company under the base prospectus. Upon termination of
the Sales Agreement, any portion of the $200,000,000 included in the sales agreement prospectus that is not sold pursuant to the Sales
Agreement will be available for sale in other offerings pursuant to the base prospectus and corresponding prospectus supplements, and
if no shares are sold under the Sales Agreement, the full $500,000,000 of securities may be sold in other offerings pursuant to the base
prospectus and corresponding prospectus supplements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Red"><B>The
information in this preliminary prospectus is not complete and may be changed. We may not sell these securities or accept an offer to
buy these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary
prospectus is not an offer to sell these securities and it is not soliciting offers to buy these securities in any state where such offer
or sale is not permitted.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; color: Red"><B>SUBJECT
TO COMPLETION, DATED OCTOBER 14, 2025</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">PROSPECTUS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$500,000,000</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Common Stock</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Preferred Stock</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Depositary Shares</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Warrants</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">From
time to time, Oruka Therapeutics, Inc. may offer and sell up to an aggregate amount of $500,000,000 of any combination of the securities
described in this prospectus, either individually or in combination with other securities in one or more offerings. We may also offer
common stock upon conversion of preferred stock or common stock or preferred stock upon the exercise of warrants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
common stock is listed on the Nasdaq Global Market under the symbol &ldquo;ORKA.&rdquo; On October 2, 2025, the last reported sale price
of our common stock was $19.18 per share. If we decide to seek a listing of any securities offered by this prospectus, the applicable
prospectus supplement will disclose the exchange or market on which such securities will be listed, if any, or where we have made an
application for listing, if any.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
securities may be sold directly by us to investors, through agents designated from time to time or to or through underwriters or dealers
or through a combination of methods, on a continuous or delayed basis. For additional information on the methods of sale, you should
refer to the section entitled &ldquo;Plan of Distribution&rdquo; in this prospectus. If any agents or underwriters are involved in the
sale of any securities with respect to which this prospectus is being delivered, the names of such agents or underwriters and any applicable
fees, commissions, discounts and over-allotment options will be set forth in a prospectus supplement. The price to the public of such
securities and the net proceeds we expect to receive from such sale will also be set forth in a prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
prospectus describes some of the general terms that may apply to the offered securities. The specific terms of any securities to be offered
will be described in supplements to this prospectus, which may also add, update or change information contained in this prospectus. You
should read this prospectus and the applicable prospectus supplement carefully before you make an investment decision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Investing
in our securities involves a high degree of risk. See &ldquo;Risk Factors&rdquo;  on page 2 of this prospectus and in the
documents incorporated by reference into this prospectus or any applicable prospectus supplement.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>We
are a &ldquo;smaller reporting company&rdquo; as defined by Rule 12b-2 of the Exchange Act and are subject to reduced public company
reporting requirements.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>This
prospectus may not be used to sell securities unless accompanied by a prospectus supplement.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined
if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>The
date of this prospectus is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2025.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>table
of contents</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 90%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U></U></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 10%; text-align: center"><B>Page</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_001">About This Prospectus</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_002">Oruka Therapeutics, Inc.</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_003">Risk Factors</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_004">Use of Proceeds</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><A HREF="#a_005">Description of Capital Stock</A></P></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_006">Description of Depositary Shares</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_007">Description of Warrants</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_008">Plan of Distribution</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_009">Legal Matters</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_010">Experts</A></FONT></TD>
    <TD STYLE="text-align: center">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_011">Where You Can Find More Information</A></FONT></TD>
    <TD STYLE="text-align: center">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_012">Incorporation of Certain Information by Reference</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_013">Special Note Regarding Forward-Looking Statements</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_001"></A>About
This Prospectus</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
prospectus is part of a registration statement that we filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) using
a &ldquo;shelf&rdquo; registration process. Under this shelf process, we may, from time to time, sell any combination of the securities
described in this prospectus in one or more offerings.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
prospectus provides you with a general description of the securities that we may offer. Each time we sell securities, we will provide
a prospectus supplement that contains specific information about the terms of that offering, including the specific amounts, prices and
terms of the securities offered. The prospectus supplement may also add information to this prospectus or update or change information
in this prospectus. If there is any inconsistency between the information in this prospectus and any prospectus supplement, you should
rely on the information in the prospectus supplement. You should read carefully this prospectus and any prospectus supplement together
with the additional information described under the heading &ldquo;Where You Can Find More Information and &ldquo;Incorporation of Certain
Information by Reference.&rdquo; We have not authorized anyone to provide you with different or additional information. We are not making
an offer to sell these securities in any jurisdiction where the offer or sale of these securities is not permitted. You should assume
that the information in this prospectus or any prospectus supplement, as well as the information incorporated by reference herein or
therein, is accurate only as of the date of the documents containing the information. Our business, financial condition, results of operations
and prospects may have changed since those dates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unless
the context indicates otherwise, as used in this prospectus and the documents incorporated by reference herein, the terms &ldquo;Oruka,&rdquo;
&ldquo;ARCA biopharma, Inc.,&rdquo; &ldquo;the Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo; and &ldquo;our&rdquo; refer to Oruka
Therapeutics, Inc., a Delaware corporation, and its consolidated subsidiaries taken as a whole.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
prospectus contains trade names, trademarks and service marks of others, which are the property of their respective owners. Solely for
convenience, trademarks and trade names referred to in this prospectus may appear without the &reg; or TM symbols.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
references to &ldquo;our product candidates,&rdquo; &ldquo;our programs&rdquo; and &ldquo;our pipeline&rdquo; in this prospectus refer
to the research programs with respect to which we have exercised the option to acquire intellectual property license rights to pursuant
to those certain antibody discovery and option agreements by and among the Company, Paragon Therapeutics, Inc. and Paruka Holding LLC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.3pt 0pt 8pt; text-indent: 30.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_002"></A>Oruka
Therapeutics, Inc.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are a clinical-stage biopharmaceutical company focused on developing novel monoclonal antibody therapeutics for psoriasis (&ldquo;PsO&rdquo;)
and other inflammatory and immunology (&ldquo;I&amp;I&rdquo;) indications. Our name is derived from <I>or</I>, for &ldquo;skin,&rdquo;
and <I>arukah</I>, for &ldquo;restoration,&rdquo; and reflects our mission to deliver therapies for chronic skin diseases that provide
patients the most possible freedom from their condition. Our strategy is to apply antibody engineering and format innovations to validated
modes of action, which we believe will enable us to improve meaningfully upon the efficacy and dosing regimens of standard-of-care medicines
while significantly reducing technical and biological risk. Our programs aim to treat and potentially modify disease by targeting mechanisms
with proven efficacy and safety involved in disease pathology and the activity of pathogenic tissue-resident memory T cells.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
lead program, ORKA-001, is designed to target the p19 subunit of interleukin-23 for the treatment of PsO. Our co-lead program, ORKA-002,
is designed to target interleukin-17A and interleukin-17F for the treatment of PsO, psoriatic arthritis, and other conditions. These
programs each bind their respective targets at high affinity and incorporate half-life extension technology with the aim to increase
exposure and decrease dosing frequency. We believe that our focused strategy, differentiated portfolio, and deep expertise position us
to set a new treatment standard in large I&amp;I markets with continued unmet need.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
principal executive offices are located at 855 Oak Grove Avenue, Suite 100, Menlo Park, California 94025. The telephone number of our
principal executive offices is (650) 606-7910. Our website address is www.orukatx.com. Information contained on, or accessible through,
our website is not incorporated by reference into this prospectus. We file our annual, quarterly and current reports, proxy statements
and other information with the SEC. We make our periodic and current reports available on our website, free of charge, as soon as reasonably
practicable after such material is electronically filed with, or furnished to, the SEC. Our filings with the SEC are also available to
the public on the SEC&rsquo;s website at www.sec.gov. Our common stock is traded on The Nasdaq Global Market under the symbol &ldquo;ORKA.&rdquo;</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_003"></A>Risk
Factors</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Investing
in our securities involves a high degree of risk. Before acquiring any offered securities pursuant to this prospectus, you should carefully
consider the information contained or incorporated by reference in this prospectus or in any accompanying prospectus supplement, including,
without limitation, the risk factors described under &ldquo;Risk Factors&rdquo; in our most recent Annual Report on Form 10-K for the
year ended December 31, 2024 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025, which are
incorporated herein by reference (as such risk factors may be updated in our other filings with the SEC pursuant to Sections 13(a), 13(c),
14, or 15(d) of the Exchange Act), and the risk factors described in any applicable prospectus supplement before making an investment
decision. The occurrence of any of these risks might cause you to lose all or a part of your investment in the offered securities. See
&ldquo;Where You Can Find More Information&rdquo; and &ldquo;Special Note Regarding Forward-Looking Statements&rdquo; included elsewhere in
this prospectus.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="text-transform: uppercase"></FONT></FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_004"></A>Use
of Proceeds</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will set forth in the prospectus supplement our intended use for the net proceeds received from the sale of any securities. We will retain
broad discretion over the use of the net proceeds from the sale of the securities offered by this prospectus.</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_005"></A><FONT STYLE="font-family: Times New Roman, Times, Serif">Description
of Capital Stock</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">General</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following description summarizes the material terms of our capital stock, as well as other material terms of certain provisions of the
Delaware General Corporation Law (the &ldquo;DGCL&rdquo;), our second amended and restated certificate of incorporation (&ldquo;Certificate
of Incorporation&rdquo;) and amended and restated bylaws (&ldquo;Bylaws&rdquo;), both of which have been filed with the SEC, and are
incorporated by reference herein. See &ldquo;Where You Can Find More Information&rdquo; for information on how to obtain copies. This
summary does not purport to be complete and is qualified in its entirety by the provisions of our Certificate of Incorporation and Bylaws.
We encourage you to read our Certificate of Incorporation, our Bylaws, and the applicable provisions of the DGCL for more information.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
authorized capital stock consists of 545,000,000 shares of common stock, $0.001 par value per share, and 5,000,000 shares of preferred
stock, $0.001 par value per share (&ldquo;Preferred Stock&rdquo;), of which 251,504 shares have been designated as Series B Preferred
Stock, $0.001 par value per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of June 30, 2025, there were 37,450,745 shares of our common stock and 137,138 shares of Series B Preferred Stock outstanding, and no
shares of Series A preferred stock outstanding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
September 19, 2025, we issued an aggregate of 10,933,405 shares of common stock at a price of $15.00 per share and pre-funded warrants
to purchase an aggregate of 1,066,666 shares of common stock at a price of $14.999 per pre-funded warrant in a private placement to certain
investors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Common
Stock</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Certificate of Incorporation authorizes the issuance of up to 545,000,000 shares of common stock. All outstanding shares of common stock
are validly issued, fully paid and nonassessable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dividend
rights</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Subject
to preferences that may apply to any shares of Preferred Stock outstanding at the time, the holders of our common stock are entitled
to receive dividends out of funds legally available if our board of directors (&ldquo;Board&rdquo;), in its discretion, determines to
issue dividends and then only at the times and in the amounts that our Board may determine.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Voting
rights</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to our Bylaws, holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders.
We have not provided for cumulative voting for the election of directors in our Certificate of Incorporation. Accordingly, pursuant to
our Certificate of Incorporation, holders of a majority of the shares of our common stock are able to elect all of our directors. Our
Certificate of Incorporation establishes a classified Board, divided into three classes with staggered three-year terms. Only one class
of directors will be elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their
respective three-year terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
preemptive or similar rights</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
common stock is not entitled to preemptive rights, and is not subject to conversion, redemption or sinking fund provisions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Right
to receive liquidation distributions</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
our liquidation, dissolution or winding-up, the assets legally available for distribution to our stockholders would be distributable
ratably among the holders of our common stock and any participating Preferred Stock outstanding at that time, subject to prior satisfaction
of all outstanding debt and liabilities and the preferential rights of and the payment of liquidation preferences, if any, on any outstanding
shares of Preferred Stock.</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Preferred
Stock</FONT></P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Under
the terms of our Certificate of Incorporation, our Board is authorized, subject to limitations prescribed by Delaware law, to issue up
to 5,000,000 shares of Preferred Stock in one or more series, to establish from time to time the number of shares to be included in each
series and to fix the designation, powers, preferences and rights of the shares of each series and any of their qualifications, limitations
or restrictions, in each case without further vote or action by our stockholders. Subject to any certificates of designation, the Board
can also increase or decrease the number of shares of any series of Preferred Stock, but not below the number of shares of that series
then outstanding, without any further vote or action by our stockholders. Our Board may authorize the issuance of Preferred Stock with
voting or conversion rights that could adversely affect the voting power or other rights of the holders of our common stock. The issuance
of Preferred Stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other
things, have the effect of delaying, deferring or preventing a change in control of our company and might adversely affect the market
price of our common stock and the voting and other rights of the holders of our common stock. We issued shares of our Series A Preferred
Stock and shares of our Series B Preferred Stock in connection with the Private Placement and the Merger, respectively, and have no current
plan to issue any additional shares of Preferred Stock. The terms &ldquo;Private Placement&rdquo; and &ldquo;Merger,&rdquo; as used in
this section, have the meanings ascribed to them in our Annual Report on Form 10-K for the year ended December 31, 2024, which is incorporated
herein by reference. In November 2024, all outstanding shares of Series A Preferred Stock automatically converted into shares of common
stock, at which point there were no shares of Series A Preferred Stock left outstanding.</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Series
B Preferred Stock</FONT></P>

<P STYLE="text-align: left; font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Holders
of our Series B Preferred Stock are entitled to receive dividends on shares of Series B Preferred Stock equal to, on an as-if-converted-to-common-stock
basis, and in the same form as dividends actually paid on shares of our common stock. Except as provided in the Series B Certificate
of Designation or as otherwise required by law, the Series B Preferred Stock does not have voting rights. However, as long as any shares
of Series B Preferred Stock are outstanding, we will not, without the affirmative vote of the holders of a majority of the then outstanding
shares of the Series B Preferred Stock: (a) (i) alter or change adversely the powers, preferences or rights given to the Series B Preferred
Stock, (ii) alter or amend the Series B Certificate of Designation, or (iii) amend or repeal any provision of, or add any provision to,
our Certificate of Incorporation or Bylaws in a manner that adversely affects any rights of the holders of the Series B Preferred Stock,
or file any articles of amendment, certificate of designations, preferences, limitations and relative rights of any series of Preferred
Stock, if such action would adversely alter or change the preferences, rights, privileges or powers of, or restrictions provided for
the benefit of the Series B Preferred Stock, regardless of whether any of the foregoing actions will be by means of amendment to the
Certificate of Incorporation or by merger, consolidation, recapitalization, reclassification, conversion or otherwise, (b) issue further
shares of Series B Preferred Stock beyond those issued pursuant to the Merger Agreement or increase or decrease (other than by conversion)
the number of authorized shares of Series B Preferred Stock, (c) at any time while at least 30% of the originally issued Series B Preferred
Stock remains issued and outstanding, consummate either: (x) any Fundamental Transaction (as defined in the Series B Certificate of Designation)
or (y) any merger or consolidation of the Company with or into another entity or any stock sale to, or other business combination in
which the stockholders of the Company immediately before such transaction do not hold at least a majority of our capital stock immediately
after such transaction, or (d) enter into any agreement with respect to any of the foregoing. The Series B Preferred Stock ranks on parity
with the common stock as to the distribution of assets upon any liquidation, dissolution, or winding-up of the Company. Each share of
Series B Preferred Stock is convertible at the option of the holder, at any time, and without the payment of additional consideration
by the holder. As of June 30, 2025, each outstanding share of Series B Preferred Stock was convertible into common stock at a ratio of
approximately 83.3332:1.</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Anti-Takeover
Provisions</FONT></P>

<P STYLE="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
provisions of Delaware law, our Certificate of Incorporation and our Bylaws could have the effect of delaying, deferring or discouraging
another person from acquiring control of our company. These provisions, which are summarized below, may have the effect of discouraging
takeover bids. They are also designed, in part, to encourage persons seeking to acquire control of us to negotiate first with our Board.
We believe that the benefits of increased protection of our potential ability to negotiate with an unfriendly or unsolicited acquirer
outweigh the disadvantages of discouraging a proposal to acquire us because negotiation of these proposals could result in an improvement
of their terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Delaware
law</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0 0pt 9.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are subject to the provisions of Section 203 of the DGCL regulating corporate takeovers. In general, Section 203 prohibits a publicly-held
Delaware corporation from engaging in a business combination with an interested stockholder for a period of three years following the
date on which the person became an interested stockholder unless:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">prior
                                            to the date of the transaction, the board of directors of the corporation approved either
                                            the business combination or the transaction that resulted in the stockholder becoming an
                                            interested stockholder&#894;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">upon
                                            completion of the transaction that resulted in the stockholder becoming an interested stockholder,
                                            the interested stockholder owned at least 85% of the voting stock of the corporation outstanding
                                            upon consummation of the transaction, excluding for purposes of determining the voting stock
                                            outstanding, but not the outstanding voting stock owned by the interested stockholder, (1)
                                            shares owned by persons who are directors and also officers and (2) shares owned by employee
                                            stock plans in which employee participants do not have the right to determine confidentially
                                            whether shares held subject to the plan will be tendered in a tender or exchange offer&#894;
                                            or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">at
                                            or subsequent to the date of the transaction, the business combination is approved by the
                                            board of directors of the corporation and authorized at an annual or special meeting of stockholders,
                                            and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding
                                            voting stock that is not owned by the interested stockholder.</FONT></TD></TR></TABLE>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Section
203 defines a &ldquo;business combination&rdquo; to include:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                            merger or consolidation involving the corporation and the interested stockholder&#894;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                            sale, transfer, pledge or other disposition involving the interested stockholder of 10% or
                                            more of the assets of the corporation&#894;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">subject
                                            to exceptions, any transaction that results in the issuance or transfer by the corporation
                                            of any stock of the corporation to the interested stockholder&#894;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                            transaction involving the corporation that has the effect of increasing the proportionate
                                            share of the stock of any class or series of the corporation beneficially owned by the interested
                                            stockholder&#894; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            receipt by the interested stockholder of the benefit of any loans, advances, guarantees,
                                            pledges or other financial benefits provided by or through the corporation.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
general, Section 203 defines an &ldquo;interested stockholder&rdquo; as an entity or person who, together with the person&rsquo;s affiliates
and associates, beneficially owns, or within three years prior to the time of determination of interested stockholder status did own,
15% or more of the outstanding voting stock of the corporation.</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Certificate
of Incorporation and Bylaw Provisions</FONT></P>

<P STYLE="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Certificate of Incorporation and our Bylaws include a number of provisions that could deter hostile takeovers or delay or prevent changes
in control of our company, including the following:</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Board
                                            of Directors vacancies</I></B>. Our Certificate of Incorporation and Bylaws require that
                                            the Board, and not stockholders, fill any directorships that become vacant or are created
                                            by an increase in the authorized number of directors by the affirmative vote of a majority
                                            of the remaining directors or by the sole remaining director. In addition, pursuant to our
                                            Bylaws, the number of directors constituting our Board is permitted to be set only by a resolution
                                            adopted by a majority vote of the entire Board. These provisions prevent a stockholder from
                                            increasing the size of our Board and then gaining control of the Board by filling the resulting
                                            vacancies with its own nominees. This makes it more difficult to change the composition of
                                            the Board but promotes continuity of management.</FONT></TD></TR></TABLE>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Classified
                                            board</I></B>. Our Certificate of Incorporation provides that our Board is classified into
                                            three classes of directors, each with staggered three-year terms. A third party may be discouraged
                                            from making a tender offer or otherwise attempting to obtain control of us as it is more
                                            difficult and time consuming for stockholders to replace a majority of the directors on a
                                            classified board of directors.</FONT></TD></TR></TABLE>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Stockholder
                                            action&#894; special meetings of stockholders</I></B>. Our Certificate of Incorporation and
                                            Bylaws provide that our stockholders may not take action by written consent, but may only
                                            take action at annual or special meetings of our stockholders. As a result, a holder controlling
                                            a majority of our capital stock would not be able to amend our Bylaws or remove directors
                                            without holding a meeting of our stockholders called in accordance with our Bylaws. Further,
                                            our Bylaws provide that special meetings of stockholders may be called only by the Board,
                                            thus prohibiting a stockholder from calling a special meeting. These provisions might delay
                                            the ability of our stockholders to force consideration of a proposal or for stockholders
                                            controlling a majority of our capital stock to take any action, including the removal of
                                            directors.</FONT></TD></TR></TABLE>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Advance
                                            notice requirements for stockholder proposals and director nominations</I></B>. Our Bylaws
                                            provide advance notice procedures for stockholders seeking to bring business before our annual
                                            meeting of stockholders or to nominate candidates for election as directors at our annual
                                            meeting of stockholders. Our Bylaws also specify certain requirements regarding the form
                                            and content of a stockholder&rsquo;s notice. These provisions might preclude our stockholders
                                            from bringing matters before our annual meeting of stockholders or from making nominations
                                            for directors at our annual meeting of stockholders if the proper procedures are not followed.
                                            We expect that these provisions might also discourage or deter a potential acquirer from
                                            conducting a solicitation of proxies to elect the acquirer&rsquo;s own slate of directors
                                            or otherwise attempting to obtain control of our company.</FONT></TD></TR></TABLE>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>No
                                            cumulative voting</I></B>. The DGCL provides that stockholders are not entitled to the right
                                            to cumulate votes in the election of directors unless a corporation&rsquo;s certificate of
                                            incorporation provides otherwise. Our Certificate of Incorporation and Bylaws do not provide
                                            for cumulative voting.</FONT></TD></TR></TABLE>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Directors
                                            removed only for cause</I></B>. Our Bylaws provide that stockholders may remove directors
                                            only for cause, and only by the affirmative vote of the holders of at least 66 2/3% of the
                                            voting power of the stock outstanding and entitled to vote generally in the election of directors.</FONT></TD></TR></TABLE>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Amendment
                                            of charter provisions</I></B>. Any amendment of the above provisions in our Certificate of
                                            Incorporation requires approval by holders of at least two-thirds of our outstanding common
                                            stock.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Issuance
                                            of Preferred Stock</I></B>. Our Board has the authority, without further action by the stockholders,
                                            to issue up to 5,000,000 shares of Preferred Stock with rights and preferences, including
                                            voting rights, designated from time to time by our Board. The existence of authorized but
                                            unissued shares of Preferred Stock enables our Board to render more difficult or to discourage
                                            an attempt to obtain control of us by merger, tender offer, proxy contest or other means.</FONT></TD></TR></TABLE>

<P STYLE="text-align: left; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Choice
                                            of forum</I></B>. Our Certificate of Incorporation and Bylaws provide that the Court of Chancery
                                            of the State of Delaware is the sole and exclusive forum for any complaint asserting any
                                            internal corporate claims. In addition, our Bylaws also provide that the federal district
                                            courts of the United States are the exclusive forum for the resolution of any complaint asserting
                                            a cause of action arising under the Securities Act. These choice of forum provisions would
                                            not apply to suits brought to enforce any liability or duty created by the Securities Act
                                            or the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction.
                                            To the extent that any such claims may be based upon federal law claims, Section 27 of the
                                            Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any
                                            duty or liability created by the Exchange Act or the rules and regulations thereunder. Furthermore,
                                            Section 22 of the Securities Act creates concurrent jurisdiction for federal and state courts
                                            over all suits brought to enforce any duty or liability created by the Securities Act or
                                            the rules and regulations thereunder. Although our Certificate of Incorporation and Bylaws
                                            contains the choice of forum provision described above, it is possible that a court could
                                            rule that such a provision is inapplicable for a particular claim or action or that such
                                            provision is unenforceable.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Transfer
Agent and Registrar</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
transfer agent and registrar for our common stock and Series B Preferred Stock is Computershare Trust Company, N.A. The transfer agent&rsquo;s
address is 150 Royall Street, Suite 101, Canton, MA 02021, and its telephone number is (800) 344-5128.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exchange
Listing</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
common stock is listed on The Nasdaq Global Market under the symbol &ldquo;ORKA.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_006"></A>Description
of Depositary Shares</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may issue depositary shares representing fractional interests in shares of our preferred stock of any series. The following description
sets forth certain general terms and provisions of the depositary shares to which any prospectus supplement may relate. The particular
terms of the depositary shares to which any prospectus supplement may relate and the extent, if any, to which the general terms and provisions
may apply to the depositary shares so offered will be described in the applicable prospectus supplement. To the extent that any particular
terms of the depositary shares, depositary agreements and depositary receipts described in a prospectus supplement differ from any of
the terms described below, then the terms described below will be deemed to have been superseded by that prospectus supplement. We encourage
you to read the applicable depositary agreement and depositary receipts for additional information before you decide whether to purchase
any of our depositary shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
connection with the issuance of any depositary shares, we will enter into a depositary agreement with a bank or trust company, as depositary,
which will be named in the applicable prospectus supplement. Depositary shares will be evidenced by depositary receipts issued pursuant
to the related depositary agreement. Immediately following our issuance of the security related to the depositary shares, we will deposit
the shares of our preferred stock with the relevant depositary and will cause the depositary to issue, on our behalf, the related depositary
receipts. Subject to the terms of the depositary agreement, each owner of a depositary receipt will be entitled, in proportion to the
fractional interest in the share of preferred stock represented by the related depositary share, to all the rights, preferences and privileges
of, and will be subject to all of the limitations and restrictions on, the preferred stock represented by the depositary receipt (including,
if applicable, dividend, voting, conversion, exchange, redemption, sinking fund, subscription and liquidation rights).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_007"></A>Description
of Warrants</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may issue warrants to purchase preferred stock or common stock. We may issue warrants independently or together with other securities.
Warrants sold with other securities may be attached to or separate from the other securities. We will issue warrants under one or more
warrant agreements between us and a bank or trust company, as warrant agent, that we will name in the prospectus supplement. The warrant
agent will act solely as our agent in connection with the warrants and will not assume any obligation or relationship of agency or trust
for or with any holders or beneficial owners of warrants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
prospectus supplement relating to any warrants we offer will include specific terms relating to the offering. These terms may include
some or all of the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            title of such warrants&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            aggregate number of such warrants&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            price or prices at which such warrants will be issued&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            currency or currencies, including composite currencies, in which the price of such warrants
                                            may be payable&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            designation and terms of the securities purchasable upon exercise of such warrants and the
                                            number of such securities issuable upon exercise of such warrants&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            price at which and the currency or currencies, including composite currencies, in which the
                                            securities purchasable upon exercise of such warrants may be purchased&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            date on which the right to exercise such warrants shall commence and the date on which such
                                            right will expire&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">whether
                                            such warrants will be issued in registered form or bearer form&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">if
                                            applicable, the minimum or maximum amount of such warrants which may be exercised at any
                                            one time&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">if
                                            applicable, the designation and terms of the securities with which such warrants are issued
                                            and the number of such warrants issued with each such security&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">if
                                            applicable, the date on and after which such warrants and the related securities will be
                                            separately transferable&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">information
                                            with respect to book-entry procedures, if any&#894; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                            other terms of such warrants, including terms, procedures and limitations relating to the
                                            exchange and exercise of such warrants.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
description in the prospectus supplement will not necessarily be complete and will be qualified in its entirety by reference to the applicable
warrant agreement, which will be filed with the SEC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_008"></A>Plan
of Distribution</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may offer and sell the securities being offered hereby in one or more of the following ways from time to time:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">to
                                            underwriters or dealers for resale to the public or to institutional investors&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">directly
                                            to institutional investors&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">directly
                                            to a limited number of purchasers or to a single purchaser&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">through
                                            agents to the public or to institutional investors&#894; or</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">through
                                            a combination of any of these methods of sale.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
prospectus supplement with respect to each series of securities will state the terms of the offering of the securities, including:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            offering terms, including the name or names of any underwriters, dealers or agents&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            purchase price of the securities and the net proceeds to be received by us from the sale&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                            underwriting discounts or agency fees and other items constituting underwriters&rsquo; or
                                            agents&rsquo; compensation&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                            public offering price&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                            discounts or concessions allowed or reallowed or paid to dealers&#894; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                            securities exchange on which the securities may be listed.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we use underwriters or dealers in the sale, the securities will be acquired by the underwriters or dealers for their own account and
may be resold from time to time in one or more transactions, including:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">privately
                                            negotiated transactions&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">at
                                            a fixed public offering price or prices, which may be changed&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">in
                                            &ldquo;at the market offerings&rdquo; within the meaning of Rule 415(a)(4) of the Securities
                                            Act&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">at
                                            prices related to prevailing market prices&#894; or</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">at
                                            negotiated prices.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
initial public offering price and any discounts or concessions allowed or reallowed or paid to dealers may be changed from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
underwriters are used in the sale of any securities, the securities may be offered either to the public through underwriting syndicates
represented by managing underwriters, or directly by underwriters. Generally, the underwriters&rsquo; obligations to purchase the securities
will be subject to certain conditions precedent. The underwriters will be obligated to purchase all of the securities if they purchase
any of the securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may enter into derivative transactions with third parties, or sell securities not covered by this prospectus to third parties in privately
negotiated transactions. If the applicable prospectus supplement indicates, in connection with those derivatives, the third parties may
sell securities covered by this prospectus and the applicable prospectus supplement, including short sale transactions. If so, the third
party may use securities pledged by us or borrowed from us or others to settle those sales or to close out any related open borrowings
of common shares, and may use securities received from us in settlement of those derivatives to close out any related open borrowings
of common shares. The third party in such sale transactions will be an underwriter and, if not identified in this prospectus, will be
identified in the applicable prospectus supplement or a post-effective amendment to this registration statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
indicated in an applicable prospectus supplement, we may sell the securities through agents from time to time. The applicable prospectus
supplement will name any agent involved in the offer or sale of the securities and any commissions we pay to them. Generally, any agent
will be acting on a best efforts basis for the period of its appointment. We may authorize underwriters, dealers or agents to solicit
offers by certain purchasers to purchase the securities from us at the public offering price set forth in the applicable prospectus supplement
pursuant to delayed delivery contracts providing for payment and delivery on a specified date in the future. The delayed delivery contracts
will be subject only to those conditions set forth in the applicable prospectus supplement, and the applicable prospectus supplement
will set forth any commissions we pay for solicitation of these delayed delivery contracts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Offered
securities may also be offered and sold, if so indicated in the applicable prospectus supplement, in connection with a remarketing upon
their purchase, in accordance with a redemption or repayment pursuant to their terms, or otherwise, by one or more remarketing firms,
acting as principals for their own accounts or as agents for us. Any remarketing firm will be identified and the terms of its agreements,
if any, with us and its compensation will be described in the applicable prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Agents,
underwriters and other third parties described above may be entitled to indemnification by us against certain civil liabilities under
the Securities Act, or to contribution with respect to payments which the agents or underwriters may be required to make in respect thereof.
Agents, underwriters and such other third parties may be customers of, engage in transactions with, or perform services for us in the
ordinary course of business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
series of securities will be a new issue of securities and will have no established trading market, other than our common stock, which
is listed on the Nasdaq Global Market. Any common stock sold will be listed on the Nasdaq Global Market, upon official notice of issuance.
The securities other than the common stock may or may not be listed on a national securities exchange and no assurance can be given that
there will be a secondary market for any such securities or liquidity in the secondary market if one develops. Any underwriters to whom
securities are sold by us for public offering and sale may make a market in the securities, but such underwriters will not be obligated
to do so and may discontinue any market making at any time without notice.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_009"></A>Legal
Matters</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
connection with particular offerings of the securities in the future, unless otherwise stated in the applicable prospectus supplement,
the validity of those securities will be passed upon for us by Davis Polk &amp; Wardwell LLP, Redwood City, California. Any underwriters,
agents, or dealers will also be advised about legal matters by their own counsel, which will be named in the applicable prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_010"></A>Experts</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The financial statements incorporated in this
prospectus by reference to the Annual Report on Form 10-K for the year ended December 31, 2024 have been so incorporated in reliance
on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as
experts in auditing and accounting.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_011"></A>Where
You Can Find More Information</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
prospectus and any prospectus supplement is part of the registration statement that we filed with the SEC under the Securities Act and
does not contain all the information set forth or incorporated by reference in the registration statement. You should review the information
and exhibits in the registration statement for further information on us and the securities that we are offering. We file annual, quarterly
and current reports, proxy statements and other information with the SEC. The SEC maintains a website at www.sec.gov that contains reports,
proxy and information statements and other information we have filed electronically with the SEC. These reports, proxy statements and
other information can also be read on our website at www.orukatx.com. Information contained on, or accessible through, our website is
not incorporated by reference into this prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_012"></A>incorporation
of certain information by reference</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
SEC allows us to &ldquo;incorporate by reference&rdquo; information into this prospectus and any accompanying prospectus supplement,
which means that we can disclose important information to you by referring you to another document filed separately with the SEC. The
information incorporated by reference is deemed to be part of this prospectus and any accompanying prospectus supplement, except for
any information superseded by information contained directly in this prospectus, any accompanying prospectus supplement or any subsequently
filed document deemed incorporated by reference. This prospectus and any accompanying prospectus supplement incorporate by reference
the documents set forth below that we have previously filed with the SEC:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                            Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025021165/ea0230445-10k_orukathe.htm">Form 10-K</A> for the year ended December 31, 2024, filed with the SEC on March
                                            6, 2025&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                            Quarterly Reports on Form 10-Q for the quarters ended <A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025043279/ea0239898-10q_oruka.htm">March 31, 2025</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025074281/ea0250224-10q_oruka.htm">June 30, 2025</A>, filed
                                            with the SEC on May 14, 2025 and August 11, 2025, respectively&#894;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                            Current Reports on Form 8-K, filed with the SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025010525/ea0229970-8k_oruka.htm">February 5, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025050756/ea0244429-8k_oruka.htm">June 3, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025060352/ea0247670-8k_oruka.htm">July 1, 2025</A>, and <A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025090129/ea0257865-8k_oruka.htm">September 22, 2025</A>&#894; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                            description of our capital stock which is contained in <A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025021165/ea023044501ex4-1_orukathe.htm">Exhibit 4.1</A> to our Annual Report on
                                            <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/907654/000121390025021165/ea0230445-10k_orukathe.htm">Form 10-K</A> for the year ended December 31, 2024, filed with the SEC on March 6, 2025, including
                                            any amendments or reports filed for the purposes of updating such description.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are not, however, incorporating by reference any documents or portions thereof, whether specifically listed above or filed in the future,
that are not deemed &ldquo;filed&rdquo; with the SEC, including any information furnished pursuant to Items 2.02 or 7.01 of Form 8-K
or certain exhibits furnished pursuant to Item 9.01 of Form 8-K. All documents filed by us pursuant to Sections 13(a), 13(c), 14 or 15(d)
of the Exchange Act on or after the date of the registration statement of which this prospectus forms a part and prior to its effectiveness
and before the termination of the offering of all securities under this prospectus and any prospectus supplement shall also be deemed
to be incorporated herein by reference. The most recent information that we file with the SEC automatically updates and supersedes older
information. The information contained in any such filing will be deemed to be a part of this prospectus, commencing on the date on which
the document is filed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will furnish without charge to each person, including any beneficial owner, to whom a prospectus is delivered, upon written or oral request,
a copy of any or all of the reports or documents incorporated by reference, including exhibits to these documents. You should direct
any requests for documents to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Oruka
Therapeutics, Inc.,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Attention:
Corporate Secretary</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">855
Oak Grove Avenue, Suite 100</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Menlo
Park, CA 94025</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(650)
606-7910.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The documents outlined above are also available
on our website at www.orukatx.com. Information contained on, or accessible through, our website is not incorporated by reference in this
prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_013"></A>Special
Note regarding Forward-Looking sTatements</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">This prospectus and any accompanying prospectus
supplement, as well as the documents we have filed with the SEC incorporated by reference herein contain &ldquo;forward-looking statements&rdquo;
within the meaning of Section 27A of the&nbsp;Securities Act of 1933, as amended, (the &ldquo;Securities Act&rdquo;) and Section 21E
of the&nbsp;Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;). These forward-looking statements reflect our
current views with respect to future events and are based on assumptions and subject to known and unknown risks and uncertainties and
other factors that may cause our actual results, performance, time frames or achievements to be materially different from any future
results, performance, time frames or achievements expressed or implied by the forward-looking statements. We discuss in greater detail,
and incorporate by reference into this prospectus in their entirety, many of these risks and uncertainties under the section titled &ldquo;Risk
Factors&rdquo; contained in the applicable prospectus supplement, in any free writing prospectus we may authorize for use in connection
with a specific offering, and in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as any amendments
thereto reflected in subsequent filings with the SEC. We caution readers that any forward-looking statement is not a guarantee of future
performance and that actual results could differ materially from those contained in the forward-looking statement. These statements are
based on current expectations of future events. You should evaluate all forward-looking statements made in this prospectus, the applicable
prospectus supplement and the documents incorporated by reference herein in the context of these risks and uncertainties. We caution
you that the risks, uncertainties and other factors referred to in this prospectus, the applicable prospectus supplement and the documents
incorporated by reference herein may not contain all of the risks, uncertainties and other factors that may affect our future results
and operations. Moreover, we operate in a very competitive and rapidly changing environment, and new risks and uncertainties emerge from
time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
statements, other than statements of historical facts contained in this prospectus, the applicable prospectus supplement and the documents
incorporated by reference herein, including, without limitation, statements regarding: our future results of operations and financial
position, business strategy, the length of time that we believe our existing cash resources will fund our operations, our market size,
our competition, our potential growth opportunities, our clinical development activities and timeline, the efficacy and safety profile
of our product candidates, the potential therapeutic benefits and economic value of our product candidates, the timing and results of
preclinical studies and clinical trials, the expected impact of macroeconomic conditions, including inflation, increasing interest rates
and volatile market conditions, current or potential bank failures, as well as global events, including military conflicts and geopolitical
tensions on our operations, and the receipt and timing of potential regulatory designations, approvals and commercialization of product
candidates, are forward-looking statements. The words &ldquo;believe,&rdquo; &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;potentially,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;continue,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;predict,&rdquo; &ldquo;target,&rdquo; &ldquo;intend,&rdquo;
&ldquo;could,&rdquo; &ldquo;would,&rdquo; &ldquo;should,&rdquo; &ldquo;project,&rdquo; &ldquo;plan,&rdquo; &ldquo;expect,&rdquo; and
similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, although
not all forward-looking statements contain these identifying words. These forward-looking statements are based on information available
to us as of only the date of the document containing the applicable statement and are subject to a number of risks, uncertainties and
assumptions. Moreover, we operate in a very competitive and rapidly changing environment, and new risks emerge from time to time. It
is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to
which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking
statements we may make. In light of these risks, uncertainties, and assumptions, the forward-looking events and circumstances discussed
in this prospectus and the documents incorporated by reference herein may not occur and actual results could differ materially and adversely
from those anticipated or implied in the forward-looking statements. While we believe that such information provides a reasonable basis
for these statements, such information may be limited or incomplete. Our statements should not be read to indicate that we have conducted
an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned
not to unduly rely on these statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
subsequent written or oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in
their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly
any revisions to these forward-looking statements to reflect events or circumstances after the date of this prospectus herein or to reflect
the occurrence of unanticipated events, except as may be required under applicable U.S. securities laws. You should read this prospectus,
and the applicable prospectus supplement, together with the documents we have filed with the SEC that are incorporated by reference herein,
with the understanding that our actual future results, levels of activity, performance and events and circumstances may be materially
different from what we expect. If we do update one or more forward-looking statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Red"><B>The information in this preliminary prospectus
is not complete and may be changed. We may not sell these securities or accept an offer to buy these securities until the registration
statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities
and it is not soliciting offers to buy these securities in any state where such offer or sale is not permitted.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="color: Red; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Subject to Completion, Dated
October 14, 2025</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PROSPECTUS</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">$200,000,000</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Common Stock</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have entered into a sales agreement (the &ldquo;Sales
Agreement&rdquo;) with TD Securities (USA) LLC (&ldquo;TD Cowen&rdquo;), dated October 3, 2025, relating to the sale of shares of our
common stock, $0.001 par value per share, offered by this prospectus. In accordance with the terms of the Sales Agreement, under this
prospectus, we may offer and sell shares of our common stock having an aggregate offering price of up to $200,000,000 from time to time
through TD Cowen, acting as our agent or principal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Sales of shares of our common stock, if any, under
this prospectus will be made in negotiated transactions, including block trades or block sales, or by any method permitted by law deemed
to be an &ldquo;at the market offering&rdquo; as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, (the &ldquo;Securities
Act&rdquo;), including, without limitation, sales made through The Nasdaq Global Market (&ldquo;Nasdaq&rdquo;), or any other existing
trading market for our common stock or by any other method permitted by law. TD Cowen is not required to sell any specific number or dollar
amount of shares of our common stock, but will act as our sales agent using commercially reasonable efforts consistent with its normal
trading and sales practices.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There is no arrangement for funds to be received
in any escrow, trust or similar arrangement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">TD Cowen will be entitled to compensation at a
commission rate of up to 3.0% of the gross sales price per share sold under the Sales Agreement. See &ldquo;Plan of Distribution&rdquo;
beginning on page 9 for additional information regarding the compensation to be paid to TD Cowen.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with the sale of shares of our common
stock on our behalf, TD Cowen will be deemed to be an &ldquo;underwriter&rdquo; within the meaning of the Securities Act and the compensation
of TD Cowen will be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution
to TD Cowen with respect to certain liabilities, including liabilities under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Shares of our common stock trade on the Nasdaq
Global Market under the symbol &ldquo;ORKA.&rdquo; On October 2, 2025, the last sale price of our common stock as reported on the Nasdaq
Global Market was $19.18 per share.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Investing in our common stock involves a high
degree of risk. See &ldquo;Risk Factors&rdquo; beginning on page 4 of this prospectus and in the documents incorporated by reference
into this prospectus.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>We are a &ldquo;smaller reporting company&rdquo;
as defined by Rule 12b-2 of the Exchange Act and are subject to reduced public company reporting requirements.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of the securities being offered by this prospectus, or determined if this
prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TD Cowen</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The date of this prospectus is&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: center; text-indent: -0.25in"><B>Table of Contents
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt; width: 90%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 9%; text-align: center">Page</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_001">About This Prospectus</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">ii</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_002">Special Note Regarding Forward-Looking Statements</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">iii</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_003">Prospectus Summary</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">1</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_004">Risk Factors</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">4</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_005">Use Of Proceeds</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">6</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_006">Dilution</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">7</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_007">Dividend Policy</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">8</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_008">Plan of Distribution</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_009">Legal Matters</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_010">Experts</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_011">Where You Can Find More Information</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#v_012">Incorporation of Certain Documents by Reference</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">11</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="v_001"></A>About This Prospectus</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus is part of a registration statement
on Form S-3 that we filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) using a &ldquo;shelf&rdquo; registration
process. Under this prospectus, we may offer and sell shares of our common stock having an aggregate offering price of up to $200,000,000
from time to time through TD Cowen acting as our agent or principal at prices and on terms to be determined by market conditions at the
time of the offering. The $200,000,000 of shares of our common stock that may be sold under this prospectus are included in the $500,000,000
of shares of common stock that may be sold under the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We provide information to you about this offering
of shares of our common stock in two separate documents that are bound together: (1) this prospectus, which describes the specific details
regarding this offering; and (2) the accompanying base prospectus, which provides general information, some of which may not apply to
this offering. Generally, when we refer to this &ldquo;prospectus,&rdquo; we are referring to both documents combined.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Before buying any of the common stock that we
are offering, we urge you to carefully read both this prospectus together with all of the information incorporated by reference herein,
as well as the additional information described under the headings &ldquo;Where You Can Find More Information&rdquo; and &ldquo;Incorporation
of Certain Documents by Reference.&rdquo; These documents contain important information that you should consider when making your investment
decision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To the extent there is a conflict between the
information contained in this prospectus, on the one hand, and the information contained in any document incorporated by reference in
this prospectus, on the other hand, you should rely on the information in this prospectus, provided that if any statement in one of these
documents is inconsistent with a statement in another document having a later date &mdash;&#8239;for example, a document filed after the
date of this prospectus incorporated by reference in this prospectus&#8239;&mdash;&#8239;the statement in the document having the later
date modifies or supersedes the earlier statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have not, and TD Cowen has not, authorized
anyone to provide any information other than that contained in or incorporated by reference in this prospectus supplement and any related
free writing prospectus filed by us with the SEC. We and TD Cowen take no responsibility for, and can provide no assurance as to, the
reliability of any other information that others may give you. This prospectus does not constitute an offer to sell or the solicitation
of an offer to buy any securities other than the securities described in this prospectus or an offer to sell or the solicitation of an
offer to buy such securities in any circumstances in which such offer or solicitation is unlawful. You should assume that the information
in this prospectus or any prospectus supplement and any free writing prospectus that we have authorized for use in connection with this
offering as well as the information incorporated by reference herein or therein is accurate only as of its date. Our business, financial
condition, results of operations and prospects may have changed since those dates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We further note that the representations, warranties
and covenants made by us in any agreement that is filed as an exhibit to any document that is incorporated by reference herein were made
solely for the benefit of the parties to such agreement, including, in some cases, for the purpose of allocating risk among the parties
to such agreement, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations, warranties
or covenants were accurate only as of the date when made. Accordingly, such representations, warranties and covenants should not be relied
on as accurately representing the current state of our affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless the context indicates otherwise, as used
in this prospectus and the documents incorporated by reference herein, the terms &ldquo;Oruka,&rdquo; &ldquo;ARCA biopharma, Inc.,&rdquo;
&ldquo;the Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo; and &ldquo;our&rdquo; refer to Oruka Therapeutics, Inc., a Delaware corporation,
and its consolidated subsidiaries taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus and the documents incorporated
by reference herein contain additional trade names, trademarks and service marks of other companies, which are the property of their respective
owners. We do not intend our use or display of other companies&rsquo; trade names, trademarks or service marks to imply a relationship
with, or endorsement or sponsorship of us by, these other companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All references to &ldquo;our product candidates,&rdquo;
&ldquo;our programs&rdquo; and &ldquo;our pipeline&rdquo; in this prospectus refer to the research programs with respect to which we have
exercised the option to acquire intellectual property license rights to pursuant to those certain antibody discovery and option agreements
by and among the Company, Paragon Therapeutics, Inc. and Paruka Holding LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="v_002"></A>Special Note REGARDING
Forward-Looking Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; color: Red"><B></B></FONT>This prospectus and the documents we have filed with the SEC incorporated by reference herein contain &ldquo;forward-looking
statements&rdquo; within the meaning of Section 27A of the&nbsp;Securities Act of 1933, as amended, and Section 21E of the&nbsp;Securities
Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;). These forward-looking statements reflect our current views with respect
to future events and are based on assumptions and subject to known and unknown risks and uncertainties and other factors that may cause
our actual results, performance, time frames or achievements to be materially different from any future results, performance, time frames
or achievements expressed or implied by the forward-looking statements. We discuss in greater detail, and incorporate by reference into
this prospectus in their entirety, many of these risks and uncertainties under the section titled &ldquo;Risk Factors&rdquo; contained
in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as any amendments thereto reflected in subsequent
filings with the SEC. We caution readers that any forward-looking statement is not a guarantee of future performance and that actual results
could differ materially from those contained in the forward-looking statement. These statements are based on current expectations of future
events. You should evaluate all forward-looking statements made in this prospectus and the documents incorporated by reference herein
in the context of these risks and uncertainties. We caution you that the risks, uncertainties and other factors referred to in this prospectus
and the documents incorporated by reference herein may not contain all of the risks, uncertainties and other factors that may affect our
future results and operations. Moreover, we operate in a very competitive and rapidly changing environment, and new risks and uncertainties
emerge from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All statements, other than statements
of historical facts contained in this prospectus and the documents incorporated by reference herein, including, without limitation, statements
regarding: our future results of operations and financial position, business strategy, the length of time that we believe our existing
cash resources will fund our operations, our market size, our competition, our potential growth opportunities, our clinical development
activities and timeline, the efficacy and safety profile of our product candidates, the potential therapeutic benefits and economic value
of our product candidates, the timing and results of preclinical studies and clinical trials, the expected impact of macroeconomic conditions,
including inflation, increasing interest rates and volatile market conditions, current or potential bank failures, as well as global events,
including military conflicts and geopolitical tensions on our operations, and the receipt and timing of potential regulatory designations,
approvals and commercialization of product candidates, are forward-looking statements. The words &ldquo;believe,&rdquo; &ldquo;may,&rdquo;
&ldquo;will,&rdquo; &ldquo;potentially,&rdquo; &ldquo;estimate,&rdquo; &ldquo;continue,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;predict,&rdquo;
&ldquo;target,&rdquo; &ldquo;intend,&rdquo; &ldquo;could,&rdquo; &ldquo;would,&rdquo; &ldquo;should,&rdquo; &ldquo;project,&rdquo; &ldquo;plan,&rdquo;
&ldquo;expect,&rdquo; and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking
statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are based on
information available to us as of only the date of the document containing the applicable statement and are subject to a number of risks,
uncertainties and assumptions. Moreover, we operate in a very competitive and rapidly changing environment, and new risks emerge from
time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business
or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any
forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the forward-looking events and circumstances
discussed in this prospectus and the documents incorporated by reference herein may not occur and actual results could differ materially
and adversely from those anticipated or implied in the forward-looking statements. While we believe that such information provides a reasonable
basis for these statements, such information may be limited or incomplete. Our statements should not be read to indicate that we have
conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors
are cautioned not to unduly rely on these statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All subsequent written or oral forward-looking
statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements
contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to these forward-looking
statements to reflect events or circumstances after the date of this prospectus herein or to reflect the occurrence of unanticipated events,
except as may be required under applicable U.S. securities laws. You should read this prospectus, together with the documents we have
filed with the SEC that are incorporated by reference herein, with the understanding that our actual future results, levels of activity,
performance and events and circumstances may be materially different from what we expect. If we do update one or more forward-looking
statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="v_003"></A>Prospectus Summary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>This summary highlights selected information
contained elsewhere in this prospectus and in the documents we incorporate by reference. This summary does not contain all of the information
you should consider before making an investment decision. You should read this entire prospectus carefully, especially the risks related
to this offering discussed under &ldquo;Risk Factors&rdquo; beginning on page 4 of this prospectus, along with the other risk factors,
our consolidated financial statements and notes to those consolidated financial statements and the other information incorporated by reference
in this prospectus.</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Acquisition of Pre-Merger Oruka</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On August 29, 2024 (the &ldquo;Merger Closing&rdquo;),
we completed our acquisition (the &ldquo;Merger&rdquo;) of Oruka Therapeutics, Inc. (&ldquo;Pre-Merger Oruka&rdquo;) pursuant to an Agreement
and Plan of Merger and Reorganization, dated as of April 3, 2024 (the &ldquo;Merger Agreement&rdquo;). Following the transactions contemplated
by the Merger Agreement, Pre-Merger Oruka merged with and into Atlas Merger Sub Corp., a wholly owned subsidiary of ARCA biopharma, Inc.
(&ldquo;ARCA&rdquo;) and following that, Pre-Merger Oruka then merged with and into Atlas Merger Sub II, LLC (&ldquo;Second Merger Sub&rdquo;),
with Second Merger Sub being the surviving entity. Second Merger Sub changed its corporate name to &ldquo;Oruka Therapeutics Operating
Company, LLC.&rdquo; Pre-Merger Oruka was a pre-clinical stage biotechnology company that was incorporated on February 6, 2024 under the
direction of Peter Harwin, a Managing Member of Fairmount Funds Management LLC (&ldquo;Fairmount&rdquo;), for the purposes of holding
rights to certain intellectual property being developed by Paragon Therapeutics, Inc. On August 29, 2024, we changed our name from &ldquo;ARCA
biopharma, Inc.&rdquo; (&ldquo;ARCA&rdquo;) to &ldquo;Oruka Therapeutics, Inc.&rdquo; and our Nasdaq ticker symbol from &ldquo;ABIO&rdquo;
to &ldquo;ORKA&rdquo;.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Company Overview</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a clinical-stage biopharmaceutical company
focused on developing novel monoclonal antibody therapeutics for psoriasis (&ldquo;PsO&rdquo;) and other inflammatory and immunology (&ldquo;I&amp;I&rdquo;)
indications. Our name is derived from <I>or</I>, for &ldquo;skin,&rdquo; and <I>arukah</I>, for &ldquo;restoration,&rdquo; and reflects
our mission to deliver therapies for chronic skin diseases that provide patients the most possible freedom from their condition. Our strategy
is to apply antibody engineering and format innovations to validated modes of action, which we believe will enable us to improve meaningfully
upon the efficacy and dosing regimens of standard-of-care medicines while significantly reducing technical and biological risk. Our programs
aim to treat and potentially modify disease by targeting mechanisms with proven efficacy and safety involved in disease pathology and
the activity of pathogenic tissue-resident memory T cells.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our lead program, ORKA-001, is designed to target
the p19 subunit of interleukin-23 for the treatment of PsO. Our co-lead program, ORKA-002, is designed to target interleukin-17A and interleukin-17F
for the treatment of PsO, psoriatic arthritis, and other conditions. These programs each bind their respective targets at high affinity
and incorporate half-life extension technology with the aim to increase exposure and decrease dosing frequency. We believe that our focused
strategy, differentiated portfolio, and deep expertise position us to set a new treatment standard in large I&amp;I markets with continued
unmet need.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Recent Developments </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Interim Phase 1 Results for ORKA-001</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> In September 2025, we announced interim Phase
1 results from a first-in-human, randomized, double-blind, placebo-controlled trial of ORKA-001 in healthy volunteers. The study enrolled
24 healthy adult participants into three single ascending subcutaneous dose cohorts of 300 mg, 600 mg, and 1200 mg. ORKA-001 showed a
half-life of approximately 100 days, greater than three times that of risankizumab, and a Cmax that exceeded risankizumab at an equivalent
dose, based on previously reported risankizumab data. We believe these properties increase the likelihood of achieving once-yearly maintenance
dosing and demonstrate comparable exposures to the KNOCKOUT study. Single doses of ORKA-001 demonstrated complete and sustained inhibition
of STAT3 signaling, a downstream marker of IL-23 activity, in an <I>ex vivo</I> assay through 24 weeks (the longest follow-up available).
ORKA-001 was well tolerated at all dose levels, with a favorable safety profile consistent with the anti-IL-23 class. There were no severe
treatment-emergent adverse events (&ldquo;TEAEs&rdquo;) or serious adverse events. The only TEAEs to occur in more than two subjects
were headache, upper respiratory tract infections, and transient erythema at the injection site. The study remains blinded, and as of
August 6, 2025, which was the data cutoff date, all subjects remained on study. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>EVERLAST Phase 2 Trials of ORKA-001 in Plaque
Psoriasis</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the third quarter of 2025, we commenced
dosing in a Phase 2a clinical trial of ORKA-001 in patients with moderate-to-severe PsO (&ldquo;EVERLAST-A&rdquo;). We expect to share
efficacy and response duration data from this study in the second half of 2026. EVERLAST-A is expected to enroll approximately 80 patients
randomized 3:1 to receive 600 mg ORKA-001 at Week 0 and 4 or matching placebo. The primary endpoint is PASI 100 at Week 16. ORKA-001 exposures
are expected to match or exceed exposures in the KNOCKOUT study, testing whether higher antibody exposures can lead to greater efficacy.
At Week 28, patients who have achieved PASI 100, or completely clear skin, will be randomized 2:1 to an arm where either (i) they do not
receive another dose until disease recurrence or (ii) they receive 300 mg ORKA-001 every six months. The &ldquo;no-dose&rdquo; arm will
evaluate the possibility of both yearly dosing and extended off-treatment remissions (defined in the literature as clear skin over one
year from last administration of a therapeutic). Patients who have not achieved PASI 100 at Week 28 will receive 300 mg ORKA-001 every
six months. At Week 16, patients receiving placebo will cross over to 600 mg ORKA-001 at Week 16 and 20, followed by once-yearly dosing
of ORKA-001 in an open label extension, providing additional data on the efficacy of yearly dosing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Additionally, we expect to initiate a dose-ranging
Phase 2b trial of ORKA-001 in moderate-to-severe PsO patients (&ldquo;EVERLAST-B&rdquo;) in the first half of 2026. EVERLAST-B will evaluate
three dose levels of ORKA-001: 37.5 mg at Week 0, 300 mg at Weeks 0 and 4, and 600 mg at Weeks 0 and 4, versus placebo. The primary endpoint
is PASI 100 at Week 16. To expedite development, EVERLAST-B is expected to begin enrolling before the completion of EVERLAST-A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><I>2025 PIPE Financing</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On September 17, 2025, we entered into a Securities
Purchase Agreement for a private placement (the &ldquo;2025 PIPE Financing&rdquo;) with certain institutional and accredited investors.
The closing of the 2025 PIPE Financing occurred on September 19, 2025. In connection with the 2025 PIPE Financing, certain investors purchased
an aggregate of 10,933,405 shares of common stock at a price of $15.00 per share and pre-funded warrants to purchase an aggregate of 1,066,666
shares of common stock at a price of $14.999 per pre-funded warrant.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Corporate Information</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our principal executive offices are located at
855 Oak Grove Avenue, Suite 100, Menlo Park, California 94025. The telephone number of our principal executive offices is (650) 606-7910.
Our website address is www.orukatx.com. Information contained on, or accessible through, our website is not incorporated by reference
into this prospectus. We file our annual, quarterly and current reports, proxy statements and other information with the SEC. We make
our periodic and current reports available on our website, free of charge, as soon as reasonably practicable after such material is electronically
filed with, or furnished to, the SEC. Our filings with the SEC are also available to the public on the SEC&rsquo;s website at www.sec.gov.
Our common stock is traded on The Nasdaq Global Market under the symbol &ldquo;ORKA.&rdquo;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus contains trade names, trademarks
and service marks of others, which are the property of their respective owners. Solely for convenience, trademarks and trade names referred
to in this prospectus may appear without the &reg; or TM symbols.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Implications of Being a Smaller Reporting Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a &ldquo;smaller reporting company&rdquo;
as defined in the Exchange Act. Smaller reporting companies may take advantage of certain scaled disclosures, including, among other things,
providing only two years of audited financial statements in their Annual Report on Form 10-K, not being required to comply with the auditor
attestation requirements of Section 404 of the Sarbanes-Oxley Act and having reduced disclosure obligations regarding executive compensation.
We will be able to take advantage of these reduced disclosures for so long as our voting and non-voting common stock held by non-affiliates
is less than $250.0 million measured on the last business day of our second fiscal quarter, or our annual revenue is less than $100.0
million during the most recently completed fiscal year and our voting and non-voting common stock held by non-affiliates is less than
$700.0 million measured on the last business day of our second fiscal quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>&nbsp;</B></P>

</DIV>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>The Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">Common Stock Offered by Us</TD>
    <TD STYLE="width: 55%">Shares of common stock having an aggregate offering price of up to $200,000,000.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Common Stock to be Outstanding After this Offering</TD>
    <TD>Up to 47,878,273 shares of common stock, assuming sales of 10,427,528
shares of our common stock in this offering at an offering price of $19.18 per share, which was the last reported sale price of our common
stock on Nasdaq on October 2, 2025. The actual number of shares issued will vary depending on the actual sales price of shares sold pursuant
to this offering.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Plan of Distribution</TD>
    <TD>&ldquo;At the market offering&rdquo; that may be made from time to time through TD Cowen. TD Cowen is not required to sell any specific number or dollar amount of shares of our common stock, but TD Cowen will act as our sales agent using commercially reasonable efforts consistent with its normal trading and sales practices. See &ldquo;Plan of Distribution.&rdquo;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Use of Proceeds</TD>
    <TD>We currently intend to use the net proceeds from this offering for general corporate purposes, including research and development and working capital. See &ldquo;Use of Proceeds&rdquo; for a more complete description of the intended use of proceeds from this offering.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Nasdaq Global Market Symbol</TD>
    <TD>&ldquo;ORKA.&rdquo;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Risk Factors</TD>
    <TD>Investing in our common stock involves significant risks. You should read the &ldquo;Risk Factors&rdquo; section of this prospectus, as well as those risks and uncertainties identified in the documents incorporated by reference in this prospectus, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, for a discussion of factors to consider carefully before deciding to purchase our common stock.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The number of issued and outstanding shares of common stock to be outstanding
after this offering is based on 37,450,745 shares of our common stock outstanding as of June 30, 2025, and excludes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>11,428,149 shares of common stock issuable upon the conversion of 137,138 shares of Series B Preferred Stock outstanding as of June
30, 2025&#894;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>6,202,207 shares of common stock issuable upon the exercise of pre-funded warrants outstanding as of June 30, 2025;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>3,668,560 shares of common stock issuable upon the exercise of stock options outstanding as of June 30, 2025 under the 2024 Equity
Incentive Plan and the 2024 Stock Incentive Plan with a weighted-average exercise price of 11.72 per share&#894;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>596,930 shares of common stock issuable upon the exercise of warrants
outstanding as of June 30, 2025 with an exercise price of $19.39 per share issued in connection with the Paruka Warrant Obligation (as
defined in our Annual Report on Form 10-K);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,054,358 shares of common stock issuable upon the exercise of employee warrants outstanding as of June 30, 2025 with a weighted-average exercise price of $7.80 per share&#894;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>10,933,405 shares of common stock issued subsequent to June 30, 2025 in connection with the 2025 PIPE Financing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>1,066,666 shares of common stock issuable upon the exercise of pre-funded warrants with an exercise price of $0.001 per warrant issued
subsequent to June 30, 2025 in connection with the 2025 PIPE Financing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>4,899,067 shares of common stock reserved for issuance under our 2024 Stock Incentive Plan as of June 30, 2025&#894; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>1,001,003 shares of common stock reserved for issuance under the Employee Stock Purchase Plan as of June 30, 2025.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</DIV>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="v_004"></A>Risk Factors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>An investment in our common stock involves
a high degree of risk. Before deciding whether to invest in our common stock, you should consider carefully the risks described below
and discussed under the sections captioned &ldquo;Risk Factors&rdquo; contained in our most recent Annual Report on Form 10-K, as well
as in any of our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are incorporated
by reference in this prospectus in their entirety, together with other information in this prospectus, the information and documents incorporated
by reference in this prospectus, and in any free writing prospectus that we have authorized for use in connection with this offering.
Each of the risk factors could adversely affect our business, operating results and financial condition, as well as adversely affect the
value of an investment in our securities, and the occurrence of any of these risks might cause you to lose all or part of your investment.
There may be additional risks that we do not presently know of or that we currently believe are immaterial which could also impair our
business and financial position. Please also read carefully the section titled &ldquo;Special Note Regarding Forward-Looking Statements.&rdquo;</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Risks Related to This Offering</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">We will have broad discretion in the use of
the net proceeds from this offering and may not use them effectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our management will have broad discretion in the
application of the net proceeds from this offering, if any, and could spend the net proceeds in ways that do not improve our business,
financial condition or results of operations or enhance the value of our common stock. You may not agree with our decisions, and our use
of the proceeds may not yield any return on your investment. We currently intend to use the net proceeds from this offering for general
corporate purposes, including research and development and working capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Because of the number and variability of factors
that will determine our use of the net proceeds from this offering, their ultimate use may vary substantially from their currently intended
use. You will not have the opportunity to influence our decisions on how to use the net proceeds from this offering. The failure by our
management to apply these funds effectively could result in financial losses that could harm our business, cause the price of our common
stock to decline and delay the development of our product candidates. Pending their use, we may invest the net proceeds from this offering
in a manner that does not produce income or that loses value. See &ldquo;Use of Proceeds.&rdquo;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">If you purchase shares of common stock in this
offering, you may suffer immediate and substantial dilution of your investment.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The shares sold in this offering will be sold from time to time at
various prices. The price per share of our common stock sold in this offering may, at the time of sale, exceed the net tangible book value
per share of our common stock outstanding prior to this offering. Therefore, if you purchase shares of our common stock in this offering,
you may pay a price per share that substantially exceeds our net tangible book value per share after this offering. To the extent that
shares of Series B Preferred Stock are converted into shares of common stock, warrants are exercised, options are exercised, new options
or restricted stock units are issued under our equity incentive plans, or we issue additional shares of common stock in the future, there
will be further dilution to investors participating in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">You may experience future dilution as a result
of future equity offerings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To raise additional capital, we may in the future
offer additional shares of our common stock or other securities convertible into or exchangeable for our common stock at prices that may
not be the same as the price per share in this offering. We may sell shares or other securities in any other offering at a price per share
that is less than the price per share paid by investors in this offering, and investors purchasing shares or other securities in the future
could have rights superior to existing stockholders. The price per share at which we sell additional shares of our common stock, or securities
convertible or exchangeable into common stock, in future transactions may be higher or lower than the price per share paid by investors
in this offering.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">The actual number of any shares we may issue
and gross proceeds resulting from those sales, at any one time or in total, is uncertain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to certain limitations in the Sales Agreement
and compliance with applicable law, we have the discretion to deliver a sale order to TD Cowen at any time throughout the term of the
Sales Agreement. The number of shares that are sold by TD Cowen after the delivery of any sale order will fluctuate based on the market
price of our common stock during the same period and limits we set with TD Cowen in any order to sell shares, and the demand for our common
stock during the sale period. Because the price per share of each share sold will fluctuate based on the market price of our common stock
during the sale period, it is not possible at this stage to predict the gross proceeds to be raised in connection with those sales or
the number of shares, if any, that will be ultimately issued.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">The common stock offered hereby will be sold
in &ldquo;at the market offerings,&rdquo; and investors who buy shares at different times will likely pay different prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Investors who purchase shares in this offering
at different times will likely pay different prices, and so may experience different outcomes in their investment results. We will have
discretion, subject to market demand, to vary the timing, prices and numbers of shares sold, and subject to the final determination by
our board of directors or any restrictions we may place in any applicable sale order, there is no minimum or maximum sales price. Investors
may experience a decline in the value of their shares as a result of sales made at prices lower than the prices they paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in"><B><I>We do not anticipate that we will pay any
cash dividends in the foreseeable future.</I></B></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-style: normal; font-weight: normal">We
do&nbsp;not anticipate that we will pay any cash dividends in the foreseeable future. The current expectation is that we will retain our
future earnings, if any, to fund the development and growth of our business. As a result, capital appreciation, if any, of our common
stock will be your sole source of gain, if any, for the foreseeable future.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0in">Sales of a significant number of shares of our
common stock in the public markets, or the perception that such sales could occur, could depress the market price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Sales of a substantial number of shares of our
common stock in the public markets, or the perception that such sales could occur, could depress the market price of our common stock
and impair our ability to raise capital through the sale of additional equity securities. In addition, certain entities beneficially own
a significant percentage of our Company. As of September 19, 2025, entities affiliated with Fairmount Funds Management LLC beneficially
own 20,431,075 shares of our common stock, or approximately 42.2% of our common stock, assuming the exercise of all pre-funded warrants
held by such entities, and the conversion of all outstanding shares of Series B Preferred Stock held by such entities into shares of common
stock, without giving effect to contractual limitations contained in such securities that restrict the holder (together with its affiliates)
from beneficially owning in excess of a specified percentage of our common stock, and without giving effect to the exercise or conversion
of any securities exercisable or convertible into common stock owned by other stockholders. It is possible that we could issue and sell
additional shares of our common stock in the public markets. We cannot predict the effect that future sales of our common stock, or the
perception that such sales might occur, would have on the market price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Shares of our common stock that are subject to
our outstanding options or warrants will become eligible for sale in the public market to the extent permitted by the provisions of various
vesting agreements and Rules 144 and 701 under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Moreover, certain holders of our common stock
have rights, subject to conditions, to require us to file registration statements covering their shares. Registration of these shares
under the Securities Act would result in the shares becoming freely tradeable in the public market, subject to the restriction of Rule
144 in the case of our affiliates. If any of these additional shares are sold, or if it is perceived that they will be sold, in the public
market, the market price of our common stock could decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="v_005"></A>Use Of Proceeds</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may issue and sell shares of our common stock
having aggregate sales proceeds of up to $200,000,000 from time to time. Because there is no minimum offering amount required as a condition
to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this
time. There can be no assurance that we will sell any shares under or fully utilize the Sales Agreement as a source of financing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We currently intend to use the net proceeds from
this offering for general corporate purposes, including research and development and working capital. Pending these uses, we intend to
invest the net proceeds in short- and intermediate-term, investment grade interest-bearing securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="v_006"></A>DILUTION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Dilution is the amount by which the price paid
by the purchasers of the shares of common stock sold in this offering exceeds the net tangible book value per share of common stock after
the offering. Net tangible book value per share is determined by subtracting our total liabilities from the total book value of our tangible
assets and dividing the difference by the number of shares of common stock deemed to be outstanding at that date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our historical net tangible book value as of June 30, 2025 was $343.6
million, or $9.18 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After giving effect to the issuance and sale of 10,427,528 shares of
common stock in this offering based on an assumed public offering price of $19.18 per share, which is the last reported sale price of
our common stock on the Nasdaq Global Market on October 2, 2025, after deducting offering commissions and estimated offering expenses
payable by us, our as adjusted net tangible book value as of June 30, 2025 would have been $537.2 million, or $11.22 per share. This represents
an immediate increase in as adjusted net tangible book value of $2.04 per share to our existing stockholders and immediate dilution of
$7.96 per share to new investors purchasing common stock in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table illustrates this dilution on a per share basis:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-indent: -10pt; padding-left: 10pt">Assumed public offering price per share</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">19.18</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 0.25in">Historical net tangible book value per share as of June 30, 2025</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9.18</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 0.25in">Increase per share attributable to new investors</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">2.04</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt">As adjusted net tangible book value per share after giving effect to this offering</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">11.22</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -10pt; padding-left: 10pt">Dilution in adjusted net tangible book value per share to new investors</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">7.96</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The table above assumes for illustrative purposes
that an aggregate of 10,427,528 shares of our common stock are sold during the term of the Sales Agreement at a price of $19.18 per share,
the last reported sale price of our common stock on the Nasdaq Global Market on October 2, 2025, for aggregate gross proceeds of $200.0
million. The shares subject to the Sales Agreement with TD Cowen are being sold from time to time at various prices. An increase of $1.00
per share in the price at which the shares are sold from the assumed offering price of $19.18 per share shown in the table above, assuming
all of our common stock in the aggregate amount of $200.0 million during the term of the Sales Agreement with TD Cowen is sold at that
price, would increase our adjusted net tangible book value per share after the offering to $11.34 per share and would increase the dilution
in net tangible book value per share to new investors in this offering to $8.84 per share, after deducting commissions and estimated aggregate
offering expenses payable by us. A decrease of $1.00 per share in the price at which the shares are sold from the assumed offering price
of $19.18 per share shown in the table above, assuming all of our common stock in the aggregate amount of $200.0 million during the term
of the Sales Agreement with TD Cowen is sold at that price, would decrease our adjusted net tangible book value per share after the offering
to $11.09 per share and would decrease the dilution in net tangible book value per share to new investors in this offering to $7.09 per
share, after deducting commissions and estimated aggregate offering expenses payable by us. This information is supplied for illustrative
purposes only and will adjust based on the actual public offering price, the actual number of shares that we offer in this offering, and
other terms of this offering determined at the time of each offer and sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To the extent that shares of Series B Preferred Stock are converted
into shares of common stock, warrants are exercised, options are exercised, new options or restricted stock units are issued under our
equity incentive plans, or we issue additional shares of common stock in the future, there will be further dilution to investors participating
in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The number of issued and outstanding shares of common stock to be outstanding
after this offering is based on 37,450,745 shares of our common stock outstanding as of June 30, 2025, and excludes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>11,428,149 shares of common stock issuable upon the conversion of 137,138 shares of Series B Preferred Stock outstanding as of June
30, 2025&#894;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>6,202,207 shares of common stock issuable upon the exercise of pre-funded warrants outstanding as of June 30, 2025;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>3,668,560 shares of common stock issuable upon the exercise of stock options outstanding as of June 30, 2025 under the 2024 Equity
Incentive Plan and the 2024 Stock Incentive Plan with a weighted-average exercise price of 11.72 per share&#894;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>596,930 shares of common stock issuable upon the exercise of warrants
outstanding as of June 30, 2025 with an exercise price of $19.39 per share issued in connection with the Paruka Warrant Obligation (as
defined in our Annual Report on Form 10-K);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,054,358 shares of common stock issuable upon the exercise of employee warrants outstanding as of June 30, 2025 with a weighted-average exercise price of $7.80 per share&#894;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>10,933,405 shares of common stock issued subsequent to June 30, 2025 in connection with the 2025 PIPE Financing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>1,066,666 shares of common stock issuable upon the exercise of pre-funded warrants with an exercise price of $0.001 per warrant issued
subsequent to June 30, 2025 in connection with the 2025 PIPE Financing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>4,899,067 shares of common stock reserved for issuance under our 2024 Stock Incentive Plan as of June 30, 2025&#894; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD>1,001,003 shares of common stock reserved for issuance under the Employee Stock Purchase Plan as of June 30, 2025.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><A NAME="v_007"></A>Dividend
Policy</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have never declared or paid any cash dividends
on our capital stock. We currently intend to retain all available funds and future earnings, if any, to support our operations and finance
the growth and development of our business. We do not intend to pay cash dividends on our common stock for the foreseeable future. Any
future determination to pay cash dividends will be at the discretion of our board of directors, subject to applicable limitations under
Delaware law, and will be dependent upon our results of operations, financial condition, contractual restrictions and other factors deemed
relevant by our board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><A NAME="v_008"></A>Plan of Distribution</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have entered into a Sales Agreement with TD
Cowen, under which we may issue and sell from time to time up to $200,000,000 of our common stock through or to TD Cowen as our sales
agent or principal. Sales of our common stock, if any, will be made in negotiated transactions, including block trades or block sales,
or by any method permitted by law deemed to be an &ldquo;at the market offering&rdquo; as defined in Rule 415(a)(4) under the Securities
Act, including without limitation sales made through Nasdaq or on any other existing trading market for our common stock, or by any other
method permitted by law. Sales pursuant to the Sales Agreement may be made through an affiliate of TD Cowen.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">TD Cowen will offer our common stock subject to
the terms and conditions of the Sales Agreement on a daily basis or as otherwise agreed upon by us and TD Cowen. We will designate the
maximum amount of common stock to be sold through TD Cowen on a daily basis or otherwise determine such maximum amount together with TD
Cowen. Subject to the terms and conditions of the Sales Agreement, TD Cowen will use its commercially reasonable efforts to sell on our
behalf all of the shares of common stock requested to be sold by us. We may instruct TD Cowen not to sell common stock if the sales cannot
be effected at or above the price designated by us in any such instruction. TD Cowen or we may suspend the offering of our common stock
being made through TD Cowen under the Sales Agreement upon proper notice to the other party. TD Cowen and we each have the right, by giving
written notice as specified in the Sales Agreement, to terminate the Sales Agreement in each party&rsquo;s sole discretion at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The aggregate compensation payable to TD Cowen
as sales agent equals up to 3.0% of the gross sales price of the shares sold through it pursuant to the sales agreement. We have also
agreed to reimburse TD Cowen up to $75,000 of TD Cowen&rsquo;s actual outside legal expenses incurred by TD Cowen in connection with the
execution of the sales agreement, in addition to certain ongoing disbursements of its legal counsel. We estimate that the total expenses
of the offering payable by us, excluding commissions payable to TD Cowen under the Sales Agreement, will be approximately $450,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The remaining sales proceeds, after deducting any
expenses payable by us and any transaction fees imposed by any governmental, regulatory, or self-regulatory organization in connection
with the sales, will equal our net proceeds for the sale of such common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">TD Cowen will provide written confirmation to us
following the close of trading on The Nasdaq Global Market on each day in which common stock is sold through it as sales agent under the
Sales Agreement. Each confirmation will include the number of shares of common stock sold through it as sales agent on that day, the volume
weighted average price of the shares sold, the percentage of the daily trading volume and the net proceeds to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will report at least quarterly the number of
shares of common stock sold through TD Cowen under the Sales Agreement and the net proceeds to us in connection with the sales of common
stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Settlement for sales of common stock will occur,
unless the parties agree otherwise, on the first business day that is also a trading day following the date on which any sales were made
in return for payment of the net proceeds to us. There is no arrangement for funds to be received in an escrow, trust or similar arrangement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with the sales of our common stock
on our behalf, TD Cowen will be deemed to be an &ldquo;underwriter&rdquo; within the meaning of the Securities Act, and the compensation
paid to TD Cowen will be deemed to be underwriting commissions or discounts. We have agreed in the Sales Agreement to provide indemnification
and contribution to TD Cowen against certain liabilities, including liabilities under the Securities Act. As sales agent, TD Cowen will
not engage in any transactions that stabilizes our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our common stock is listed on The Nasdaq Global
Market and trades under the symbol &ldquo;ORKA.&rdquo; The transfer agent of our common stock is Computershare Trust Company, N.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">TD Cowen and/or its affiliates have provided, and
may in the future provide, various investment banking and other financial services for us for which services they have received and, may
in the future receive, customary fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="v_009"></A>Legal Matters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The validity of the common stock being offered
by this prospectus will be passed upon for us by Davis Polk &amp; Wardwell LLP, Redwood City, California. TD Cowen is being represented
in connection with this offering by Cooley LLP, New York, New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="v_010"></A>Experts</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; text-transform: none">The
financial statements incorporated in this Prospectus by reference to the Annual Report on Form 10-K for the year ended December 31, 2024
have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given
on the authority of said firm as experts in auditing and accounting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: left; text-indent: 0.25in"><FONT STYLE="font-weight: normal; text-transform: none">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="v_011"></A>Where You Can Find
More Information</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We file annual, quarterly and current reports,
proxy statements and other information with the SEC. Our SEC filings are available to the public over the Internet at the SEC&rsquo;s
website at www.sec.gov. Copies of certain information filed by us with the SEC are also available on our website at www.orukatx.com. Information
contained on, or accessible through, our website is not incorporated by reference into this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus is part of a registration statement
on Form S-3 we filed with the SEC under the Securities Act and does not contain all of the information set forth or incorporated by reference
in the registration statement. You should review the information and exhibits in the registration statement for further information on
us and our consolidated subsidiaries and the securities we are offering. Statements in this prospectus concerning any document we filed
as an exhibit to the registration statement or that we otherwise filed with the SEC are not intended to be comprehensive and are qualified
by reference to these filings. You should review the complete document to evaluate these statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="v_012"></A>Incorporation of
Certain Documents by Reference</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The SEC allows us to &ldquo;incorporate by reference&rdquo;
information into this prospectus, which means that we can disclose important information to you by referring you to another document filed
separately with the SEC. The information incorporated by reference is deemed to be part of this prospectus, except for any information
superseded by information contained directly in this prospectus, or any subsequently filed document deemed incorporated by reference.
This prospectus supplement incorporate by reference the documents set forth below that we have previously filed with the SEC:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal">&#9679;</FONT></TD><TD STYLE="text-align: left">our Annual Report on Form 10-K for the year ended <A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025021165/ea0230445-10k_orukathe.htm">December
31, 2024</A>, filed with the SEC on March 6, 2025&#894;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: left">our Quarterly Reports on Form 10-Q for the quarters ended
<A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025043279/ea0239898-10q_oruka.htm">March 31, 2025</A> and <A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025074281/ea0250224-10q_oruka.htm">June
30, 2025</A>, filed with the SEC on May 14, 2025 and August 11, 2025, respectively&#894;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: left">our Current Reports on Form 8-K, filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025010525/ea0229970-8k_oruka.htm">February
5, 2025</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025050756/ea0244429-8k_oruka.htm">June 3, 2025</A> and
<A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025060352/ea0247670-8k_oruka.htm">July 1, 2025</A>, and <A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025090129/ea0257865-8k_oruka.htm">September
22, 2025</A>&#894; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: left">the description of our capital stock, which is contained in
<A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025021165/ea023044501ex4-1_orukathe.htm">Exhibit 4.1</A> to our Annual
Report on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/907654/000121390025021165/ea0230445-10k_orukathe.htm">Form 10-K</A>
for the year ended December 31, 2024, filed with the SEC on March 6, 2025, including any amendments or reports filed for the purposes
of updating such description.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are not, however, incorporating by reference
any documents or portions thereof, whether specifically listed above or filed in the future, that are not deemed &ldquo;filed&rdquo; with
the SEC, including any information furnished pursuant to Items 2.02 or 7.01 of Form 8-K or certain exhibits furnished pursuant to Item
9.01 of Form 8-K. All documents filed by us pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this
prospectus before the termination of the offering shall also be deemed to be incorporated herein by reference. The most recent information
that we file with the SEC automatically updates and supersedes older information. The information contained in any such filing will be
deemed to be a part of this prospectus, commencing on the date on which the document is filed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will furnish without charge to each person,
including any beneficial owner, to whom a prospectus is delivered, upon written or oral request, a copy of any or all of the reports or
documents incorporated by reference, including exhibits to these documents. You should direct any requests for documents to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">Oruka Therapeutics, Inc.,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">Attention: Corporate Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">855 Oak Grove Avenue, Suite
100</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">Menlo Park, CA 94025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">(650) 606-7910.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The documents outlined above are also available
on our website at www.orukatx.com. Information contained on, or accessible through, our website is not incorporated by reference into
this prospectus.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt">$200,000,000</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt">Common Stock</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt"><B>TD
Cowen</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-weight: normal">, 2025</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">PART
II</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">INFORMATION
NOT REQUIRED IN PROSPECTUS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item
14. Other Expenses of Issuance and Distribution</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The following
table sets forth the estimated costs and expenses, other than the underwriting discounts and commissions, payable by the registrant in
connection with the issuance and distribution of the securities being registered. All the amounts shown are estimates, except for the
SEC registration fee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center"><B>Amount&nbsp;to&nbsp;be<BR>
Paid</B></TD><TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-align: left">SEC registration fee</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">69,050</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Stock exchange listing fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Accounting fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Legal fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Transfer agent and registrar fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">Printing and miscellaneous expenses</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 4pt">Total</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">These
fees cannot be estimated at this time, as they are calculated based on the securities offered and the number of issuances. An estimate
of the aggregate expenses in connection with the sale and distribution of the securities being offered will be included in the applicable
prospectus supplement.</FONT></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item
15. Indemnification of Directors and Officers</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">Section
145 of the Delaware General Corporation Law provides that a corporation may indemnify directors and officers as well as other employees
and individuals against expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred by such person in connection with any threatened, pending or completed actions, suits or proceedings in which such person is
made a party by reason of such person being or having been a director, officer, employee or agent to the Registrant. The Delaware General
Corporation Law provides that Section 145 is not exclusive of other rights to which those seeking indemnification may be entitled under
any bylaw, agreement, vote of stockholders or disinterested directors or otherwise. Article VI of the Registrant&rsquo;s Bylaws provides for
indemnification by the Registrant of its directors, officers and employees to the fullest extent permitted by the Delaware General Corporation
Law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Section
102(b)(7) of the Delaware General Corporation Law permits a corporation to provide in its certificate of incorporation that a director
or officer of the corporation shall not be personally liable to the corporation or its stockholders for monetary damages for breach of
fiduciary duty as a director or officer, except for liability (i) for any breach of the director&rsquo;s or officer&rsquo;s duty of loyalty to the
corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation
of law, (iii) for a director for unlawful payments of dividends or unlawful stock repurchases, redemptions or other distributions, (iv)
for any transaction from which the director or officer derived an improper personal benefit or (v) for an officer in any action by or
in the right of the corporation. The Registrant&rsquo;s Certificate of Incorporation provides for such limitation of liability.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Registrant maintains standard policies of insurance under which coverage is provided (a) to its directors and officers against loss rising
from claims made by reason of breach of duty or other wrongful act, and (b) to the Registrant with respect to payments which may be made
by the Registrant to such officers and directors pursuant to the above indemnification provision or otherwise as a matter of law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Registrant has entered into indemnification agreements with each of its executive officers and directors that provide indemnification
under certain circumstances for acts and omissions that may not be covered by any directors&rsquo; and officers&rsquo; liability insurance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item
16. Exhibits</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
list of exhibits filed herewith is contained in the exhibit index that immediately precedes such exhibits and is incorporated herein
by reference.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item
17. Undertakings</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
undersigned Registrant hereby undertakes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
include any prospectus required by Section 10(a)(3) of the Securities Act;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
reflect in the prospectus any facts or events arising after the effective date of this registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this registration
statement. Notwithstanding the foregoing, any increase or decrease in the volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering
range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes
in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the &ldquo;Calculation
of Registration Fee&rdquo; table in the effective registration statement; and</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iii)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
include any material information with respect to the plan of distribution not previously disclosed in this registration statement or
any material change to such information in this registration statement;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>provided,
however</I>, that paragraphs (1)(i), (1)(ii) and (1)(iii) do not apply if the information required to be included in a post-effective
amendment by those paragraphs is contained in reports filed with or furnished to the Securities and Exchange Commission by the Registrant
pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this registration statement, or is
contained in a form of prospectus filed pursuant to Rule 424(b) that is a part of the registration statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">That,
for purposes of determining liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to
be the initial <I>bona fide</I> offering thereof.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination
of this offering.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">That
for purposes of determining any liability under the Securities Act of 1933 to any purchaser:</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date
the filed prospectus was deemed part of and included in the registration statement; and</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule
430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii) or (x), for the purpose of providing the information required
by Section 10(a) of the Securities Act shall be deemed to be part of and included in the registration statement as of the earlier of
the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering
described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter,
such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement
to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement
or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of
the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify
any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such
document immediately prior to such effective date.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">That,
for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution
of the securities:</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this registration
statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold
to such purchaser by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will
be considered to offer or sell such securities to such purchaser:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule 424;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to by the
undersigned Registrant;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iii)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
portion of any other free writing prospectus relating to the offering containing material information about the undersigned Registrant
or its securities provided by or on behalf of the undersigned Registrant; and</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
other communication that is an offer in the offering made by the undersigned Registrant to the purchaser.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(6)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">That,
for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&rsquo;s annual report pursuant
to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&rsquo;s
annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(7)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons
of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC
such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by
a director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication
of such issue.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item
6. Exhibits</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; width: 9%; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; width: 45%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 10%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Form</B></FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 10%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 10%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Filing Date</B></FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; width: 10%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Filed Herewith</B></FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; width: 1%; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Underwriting Agreement</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2**</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025096198/ea026007301ex1-2_oruka.htm">Sales Agreement between Oruka Therapeutics, Inc. and TD Securities (USA) LLC, dated October 3, 2025</A></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> S-3&nbsp; </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> 1.2 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> 10/3/2025 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"></TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/907654/000119312524085437/d794675dex21.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agreement and Plan of Merger and Reorganization, dated as of April 3, 2024, by and among ARCA biopharma, Inc., Atlas Merger Sub Corp., Atlas Merger Sub II, LLC and Oruka Therapeutics, Inc.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4/3/2024</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390024076184/ea021319301ex3-5_oruka.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second Amended and Restated Certificate of Incorporation</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9/5/2024</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390024076184/ea021319301ex3-6_oruka.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amended and Restated Bylaws</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.6</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9/5/2024</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390024076184/ea021319301ex3-8_oruka.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Elimination of Series A Convertible Preferred Stock, dated August 29, 2024</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.8</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9/5/2024</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.4</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390024076184/ea021319301ex3-9_oruka.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation of Preferences, Rights and Limitations of Series B Non-Voting Convertible Preferred Stock</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.9</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9/5/2024</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390024078549/ea021443901ex3-1_oruka.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation of Preferences, Rights and Limitations of Series A Non-Voting Convertible Preferred Stock</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9/13/2024</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025021165/ea023044501ex4-1_orukathe.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description of Securities</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3/6/2025</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025021165/ea023044501ex4-3_orukathe.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Pre-Funded Warrant, dated August 29, 2024</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3/6/2025</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390024078549/ea021443901ex4-1_oruka.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Pre-Funded Warrant, dated September 13, 2024</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9/13/2024</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025090129/ea025786501ex4-1_oruka.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Pre-Funded Warrant, dated September 19, 2025</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9/22/2025</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/907654/000121390025043279/ea023989801ex4-5_oruka.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paruka Warrant, dated December 31, 2024</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10-Q</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/14/2025</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.6*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen Preferred Stock Certificate and Form of Certificate of Designation of Preferred Stock</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.7*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Warrant Agreement</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.8*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Depositary Agreement</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1**</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025096198/ea026007301ex5-1_oruka.htm">Opinion of Davis Polk &amp; Wardwell LLP relating to the base prospectus</A></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> S-3 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> 5.1&nbsp; </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> 10/3/2025 </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"></TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2**</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025096198/ea026007301ex5-2_oruka.htm">Opinion of Davis Polk &amp; Wardwell LLP relating to the sales agreement prospectus</A></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> S-3 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> &nbsp;5.2 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> &nbsp;10/3/2025 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"></TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea026112601ex23-1_oruka.htm">Consent of PricewaterhouseCoopers LLP, independent registered public accounting firm</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">X</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2**</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025096198/ea026007301ex5-1_oruka.htm">Consent of Davis Polk &amp; Wardwell LLP (included in Exhibit 5.1)</A></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> &nbsp;S-3 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> &nbsp;23.2 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> 10/3/2025 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"></TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.3**</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025096198/ea026007301ex5-2_oruka.htm">Consent of Davis Polk &amp; Wardwell LLP (included in Exhibit 5.2)</A></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> &nbsp;S-3 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> &nbsp;23.3 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> 10/3/2025 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"></TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1**</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025096198/ea0260073-s3_oruka.htm#poa_001">Power of Attorney (incorporated by reference to the signature page of the original filing of this registration statement)</A></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="text-align: center; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt"> S-3 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"> &nbsp;24.1 </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> &nbsp;10/3/2025 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"></TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107**</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/907654/000121390025096198/ea026007301ex-fee_oruka.htm">Filing Fee Table (incorporated by reference from Exhibit 107 of the original filing of this registration statement)</A></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="text-align: center; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt"> &nbsp;S-3 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> &nbsp;107 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> 10/3/2025 </P></TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"></TD>
    <TD> &nbsp; </TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: bold 1pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">To be filed by
                                            amendment or as an exhibit to a Current Report on Form 8-K and incorporated herein by reference,
                                            if applicable.</FONT></TD></TR><TR STYLE="vertical-align: top">
<TD> &nbsp; </TD><TD> ** </TD><TD> Previously filed with the initial filing of this registration statement on October 3, 2025. </TD></TR>
                                                                           </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="poa_001"></A>SIGNATURES</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Pursuant to the requirements of the Securities
Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all the requirements for filing on Form
S-3 and has duly caused this Amendment No. 1 to this registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Menlo Park, State of California, on October 14, 2025. <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif">ORUKA THERAPEUTICS, INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Lawrence Klein</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name:&nbsp;</FONT></TD>
    <TD STYLE="width: 31%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lawrence
    Klein</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Executive
    Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities
and on the dates indicated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 25%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature
    </FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 2%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 45%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title
    </FONT> </TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 2%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; width: 26%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
    &nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Lawrence Klein </FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer
    &amp; Director</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    14, 2025</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lawrence Klein</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive
    Officer)</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Arjun Agarwal </FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior Vice President,
    Finance and Treasurer</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    14, 2025</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arjun Agarwal</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Financial
    Officer &amp; Principal Accounting Officer)</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT> </P></TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    14, 2025</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Samarth Kulkarni</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT> </P></TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    14, 2025</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kristine Ball</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT> </P></TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    14, 2025</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Carl Dambkowski</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*
    </FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    14, 2025</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Peter Harwin</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    14, 2025</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cameron Turtle</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*By:</FONT> </TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Arjun Agarwal</FONT> </TD>
    <TD STYLE="width: 60%"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT>&nbsp; </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arjun Agarwal</FONT> </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attorney-in-Fact</FONT> </TD>
    <TD> &nbsp; </TD></TR>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>ea026112601ex23-1_oruka.htm
<DESCRIPTION>CONSENT OF PRICEWATERHOUSECOOPERS LLP, INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">We hereby consent to the incorporation by reference in this Registration
Statement on Form<B>&nbsp;</B>S-3 of Oruka Therapeutics, Inc. of our report dated March 6, 2025 relating to the financial statements,
which appears in Oruka Therapeutics, Inc.&rsquo;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2024. We also consent to the
reference to us under the heading &ldquo;Experts&rdquo; in such Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ PricewaterhouseCoopers LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">Boston, Massachusetts</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 14, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<SEQUENCE>3
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
