10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-033834`
Period End Date	20230630
Filing Date	20230721
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	abio-20230630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 49 Cash Flow Statement 37 Stockholders Equity 32

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.16M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$599.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$254.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.76M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$1.17M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$625.00K	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$293.00K	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$343.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$17.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total assets	`Assets`	$41.08M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total assets	`Assets`	$43.09M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.41M	shares	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$241.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$334.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$190.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$173.00K	USD	Point-in-time
Accrued expenses and other liabilities (related party - $432 and $216 at June 30, 2023 and December 31, 2022, respectively)	`OtherAccruedLiabilitiesCurrent`	$1.17M	USD	Point-in-time
Accrued expenses and other liabilities (related party - $432 and $216 at June 30, 2023 and December 31, 2022, respectively)	`OtherAccruedLiabilitiesCurrent`	$625.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.60M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$280.00K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$243.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.41M	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 June 30, 2023 and December 31, 2022; 14,410,143 shares issued and outstanding at June 30, 2023 and December 31, 2022	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at June 30, 2023 and December 31, 2022; 14,410,143 shares issued and outstanding at June 30, 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`	$225.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-183.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-186.23M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$42.73M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$44.96M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$47.94M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$40.53M	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 stockholders equity	`StockholdersEquity`	$39.24M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$41.08M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$43.09M	USD	Point-in-time

Income Statement 49 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`GeneralAndAdministrativeExpense`	$1.72M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.73M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.83M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.12M	USD	2 Qtrs
Research and development (related party - $108 and $216 at both three and six months ended June 30, 2023 and 2022, respectively)	`ResearchAndDevelopmentExpense`	$254.00K	USD	1 Quarter
Research and development (related party - $108 and $216 at both three and six months ended June 30, 2023 and 2022, respectively)	`ResearchAndDevelopmentExpense`	$3.66M	USD	2 Qtrs
Research and development (related party - $108 and $216 at both three and six months ended June 30, 2023 and 2022, respectively)	`ResearchAndDevelopmentExpense`	$644.00K	USD	2 Qtrs
Research and development (related party - $108 and $216 at both three and six months ended June 30, 2023 and 2022, respectively)	`ResearchAndDevelopmentExpense`	$1.49M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$1.97M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$6.50M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$3.77M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$3.22M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.50M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.77M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.22M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.97M	USD	1 Quarter
Related party expense	`ResearchAndDevelopmentExpense`	$254.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$79.00K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$72.00K	USD	1 Quarter
Related party expense	`ResearchAndDevelopmentExpense`	$3.66M	USD	2 Qtrs
Related party expense	`ResearchAndDevelopmentExpense`	$644.00K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$493.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$943.00K	USD	2 Qtrs
Related party expense	`ResearchAndDevelopmentExpense`	$1.49M	USD	1 Quarter
Other loss	`OtherNonoperatingExpense`	$2.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.83M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.35M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.42M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.20	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.45	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.22	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.10	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.22	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.45	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.10	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.20	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	2 Qtrs

Cash Flow Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.83M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.35M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.42M	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$11.00K	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$8.00K	USD	2 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$46.00K	USD	2 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$50.00K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$339.00K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$391.00K	USD	2 Qtrs
Loss from disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$345.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$156.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-93.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.00K	USD	2 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-601.00K	USD	2 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$17.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-135.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$509.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.92M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.29M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-6.92M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.29M	USD	2 Qtrs
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$53.36M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.44M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.45M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.16M	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`	$46.44M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.45M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.16M	USD	Point-in-time

Stockholders Equity 32 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$42.73M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$44.96M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$47.94M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$40.53M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$51.04M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$41.67M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$39.24M	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`	$172.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$187.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$97.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$167.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$120.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$204.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.83M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.35M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.42M	USD	2 Qtrs
Ending Balance	`StockholdersEquity`	$42.73M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$44.96M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$47.94M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$40.53M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$51.04M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$41.67M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$39.24M	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.