10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-014091`
Period End Date	20230331
Filing Date	20230424
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	abio-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 26 Cash Flow Statement 34 Stockholders Equity 26

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Due to related parties	`DueToRelatedPartiesCurrentAndNoncurrent`	$216.00K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrentAndNoncurrent`	$324.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.85M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.45M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$852.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.41M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$254.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.41M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$41.70M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$42.70M	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$343.00K	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$318.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$21.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Total assets	`Assets`	$42.06M	USD	Point-in-time
Total assets	`Assets`	$43.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$334.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$366.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$173.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$235.00K	USD	Point-in-time
Accrued expenses and other liabilities (related party - $324 and $216 at March 31, 2023 and December 31, 2022, respectively)	`OtherAccruedLiabilitiesCurrent`	$665.00K	USD	Point-in-time
Accrued expenses and other liabilities (related party - $324 and $216 at March 31, 2023 and December 31, 2022, respectively)	`OtherAccruedLiabilitiesCurrent`	$625.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.13M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$262.00K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$280.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.41M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.53M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at March 31, 2023 and December 31, 2022; 14,410,143 shares issued and outstanding at March 31, 2023 and December 31, 2022	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at March 31, 2023 and December 31, 2022; 14,410,143 shares issued and outstanding at March 31, 2023 and December 31, 2022	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$225.06M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$225.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-183.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-184.75M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$44.96M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$42.73M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$40.53M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$47.94M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$51.04M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$41.67M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$43.09M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$42.06M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Related party expense	`RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty`	$108.00K	USD	1 Quarter
Related party expense	`RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty`	$108.00K	USD	1 Quarter
Research and development (related party - $108 at both March 31, 2023 and 2022)	`ResearchAndDevelopmentExpense`	$390.00K	USD	1 Quarter
Research and development (related party - $108 at both March 31, 2023 and 2022)	`ResearchAndDevelopmentExpense`	$2.18M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.41M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.10M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$1.80M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$3.28M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.80M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.28M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$7.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$450.00K	USD	1 Quarter
Other loss	`OtherNonoperatingExpense`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.35M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.09	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.23	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.09	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.23	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	1 Quarter

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.35M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$5.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$4.00K	USD	1 Quarter
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$23.00K	USD	1 Quarter
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$25.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$204.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$167.00K	USD	1 Quarter
Loss from disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$598.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$414.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-103.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$32.00K	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$62.00K	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-757.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$51.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$22.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.30M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.59M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.30M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.59M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.85M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.06M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$53.36M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.45M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.85M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.06M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$53.36M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.45M	USD	Point-in-time

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$44.96M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$42.73M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$40.53M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$47.94M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$51.04M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$41.67M	USD	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$97.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$167.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$172.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$204.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$120.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.35M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$44.96M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$42.73M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$40.53M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$47.94M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$51.04M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$41.67M	USD	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.