10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q3 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-053972`
Period End Date	20230930
Filing Date	20231018
Fiscal Year	2023
Fiscal Period	Q3
XBRL Instance	abio-20230930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 51 Cash Flow Statement 38 Stockholders Equity 36

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.49M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$254.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$405.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.70M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$582.00K	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$343.00K	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$267.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$625.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.41M	shares	Point-in-time
Total assets	`Assets`	$39.18M	USD	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 outstanding	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$322.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$334.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$88.00K	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 September 30, 2023 and December 31, 2022, respectively)	`OtherAccruedLiabilitiesCurrent`	$582.00K	USD	Point-in-time
Accrued expenses and other liabilities (related party - $432 and $216 at September 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`	$992.00K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$224.00K	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`	$1.22M	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 September 30, 2023 and December 31, 2022; 14,410,143 shares issued and outstanding at September 30, 2023 and December 31, 2022	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at September 30, 2023 and December 31, 2022; 14,410,143 shares issued and outstanding at September 30, 2023 and December 31, 2022	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$225.61M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$225.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-183.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-187.65M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$44.96M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$39.24M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$37.97M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$41.67M	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`	$51.04M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$47.94M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$39.18M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$43.09M	USD	Point-in-time

Income Statement 51 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`GeneralAndAdministrativeExpense`	$1.53M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.36M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.74M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.61M	USD	1 Quarter
Research and development (related party - $0 and $108 as of the three months ended September 30, 2023 and 2022, respectively) (related party - $216 and $324 as of the nine months ended September 30, 2023 and 2022, respectively)	`ResearchAndDevelopmentExpense`	$4.69M	USD	3 Qtrs
Research and development (related party - $0 and $108 as of the three months ended September 30, 2023 and 2022, respectively) (related party - $216 and $324 as of the nine months ended September 30, 2023 and 2022, respectively)	`ResearchAndDevelopmentExpense`	$1.02M	USD	1 Quarter
Research and development (related party - $0 and $108 as of the three months ended September 30, 2023 and 2022, respectively) (related party - $216 and $324 as of the nine months ended September 30, 2023 and 2022, respectively)	`ResearchAndDevelopmentExpense`	$966.00K	USD	3 Qtrs
Research and development (related party - $0 and $108 as of the three months ended September 30, 2023 and 2022, respectively) (related party - $216 and $324 as of the nine months ended September 30, 2023 and 2022, respectively)	`ResearchAndDevelopmentExpense`	$322.00K	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$5.71M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$9.05M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$1.94M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$2.55M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.71M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.55M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.05M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.94M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$222.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$1.46M	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$513.00K	USD	1 Quarter
Related party expense	`ResearchAndDevelopmentExpense`	$4.69M	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$301.00K	USD	3 Qtrs
Related party expense	`ResearchAndDevelopmentExpense`	$1.02M	USD	1 Quarter
Related party expense	`ResearchAndDevelopmentExpense`	$966.00K	USD	3 Qtrs
Related party expense	`ResearchAndDevelopmentExpense`	$322.00K	USD	1 Quarter
Other loss	`OtherNonoperatingExpense`	$5.00K	USD	3 Qtrs
Other loss	`OtherNonoperatingExpense`	$3.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.75M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.35M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.25M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.29	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$-0.61	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$-0.16	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.10	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.16	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.29	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.61	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.10	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	3 Qtrs

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.75M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.35M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.25M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$15.00K	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$12.00K	USD	3 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$70.00K	USD	3 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$76.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$545.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$436.00K	USD	3 Qtrs
Loss from disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-5.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$145.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-451.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-12.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-524.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-592.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-85.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-527.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-99.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.42M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.96M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.96M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.42M	USD	3 Qtrs
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$53.36M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$38.49M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.94M	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`	$53.36M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$38.49M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.94M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.45M	USD	Point-in-time

Stockholders Equity 36 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$44.96M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$39.24M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$37.97M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$41.67M	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`	$51.04M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$47.94M	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`	$120.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$204.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$154.00K	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
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.75M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.35M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.25M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$44.96M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$39.24M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$37.97M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$41.67M	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`	$51.04M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$47.94M	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.