CMO Joana Goncalves sells 7,947 shares for $550,606.92 via 10b5-1 plan; holds 32,718 shares post-sale plus 379,555 derivative holdings
Joana Goncalves, Chief Medical Officer at Oruka Therapeutics, executed four separate sales totaling 7,947 shares for $550,606.92 on 2026-06-15, with transaction prices ranging from $68.38 to $70.62 and a blended average of $69.28. This sale was conducted under a pre-arranged 10b5-1 trading plan, meaning it was scheduled rather than discretionary. Post-transaction, Goncalves retains 32,718 non-derivative shares and substantial derivative holdings comprising 204,063 stock options and 175,492 warrants for a total of 379,555 derivative securities. The company context is material: ORKA reported zero revenue in its latest quarter and net income of $-31,820,000.00, operating at significant losses in its most recent full fiscal year. The stock has risen 11.2% over 30 days and 66.7% over 90 days from depressed levels (currently $68.86, down 24.3% from its 52-week high of $91.00). The combination of scheduled selling by a CMO at a clinical-stage biotech, substantial remaining derivative optionality, and ongoing cash burn warrants attention to the company's near-term financing runway and clinical milestones.