Oruka Therapeutics, Inc. Price & Performance (ORKA)

ARCA biopharma has completed its merger with Oruka Therapeutics, with the combined company now operating as Oruka Therapeutics, Inc. and trading on Nasdaq under the symbol ORKA from September 3, 2024. A 1-for-12 reverse stock split also took effect, reducing ARCA's outstanding shares and reclassifying them under the new entity.12

ARCA biopharma shareholders received a special cash dividend of $1.613 per share on August 28, 2024, as part of the merger with Oruka Therapeutics. The dividend was payable to those on record as of August 26, 2024, and was contingent on the successful completion of the merger, providing a notable return for existing investors.34

ARCA biopharma’s 1-for-12 reverse stock split, approved by shareholders, reduced outstanding shares from 14.5 million to approximately 1.2 million. Simultaneously, authorized shares increased from 100 million to 545 million, positioning the combined company for future growth and aligning equity with the newly merged entity’s expanded ambitions.54