10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001564590-14-003628`
Period End Date	20140630
Filing Date	20140813
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	abio-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 52 Cash Flow Statement 46 Stockholders Equity 23

Balance Sheet 47 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.01M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.38M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.69M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.69M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$169.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$303.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.01M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$19.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.93M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$29.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$29.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$130.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$831.00K	USD	Point-in-time
Total assets	`Assets`	$17.08M	USD	Point-in-time
Total assets	`Assets`	$20.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$725.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$597.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$141.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$459.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$446.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$351.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.22M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$2.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$1.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.50M	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, 2014 and December 31, 2013; 21,010,815 and 15,685,562 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	`CommonStockValue`	$21.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at June 30, 2014 and December 31, 2013; 21,010,815 and 15,685,562 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	`CommonStockValue`	$16.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$99.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$90.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-74.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-79.73M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.91M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.32M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$15.58M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$17.08M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$20.54M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.40M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.71M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$427.00K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$246.00K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.01M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.84M	USD	2 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$952.00K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$2.09M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$2.41M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$2.27M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$4.80M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$1.20M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.41M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.27M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.80M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.20M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$1.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$1.00K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$2.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$4.00K	USD	2 Qtrs
Interest and other expense	`InterestExpenseDebt`	$3.00K	USD	2 Qtrs
Interest and other expense	`InterestExpenseDebt`	$2.00K	USD	2 Qtrs
Interest and other expense	`InterestExpenseDebt`	$1.00K	USD	1 Quarter
Interest and other expense	`InterestExpenseDebt`	$2.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.79M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.40M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.27M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.20M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Benefit from income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$-6.94M	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-2.40M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-4.79M	USD	2 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$-1.20M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-2.27M	USD	2 Qtrs
Less: Deemed preferred stock dividend	`PreferredStockDividendsAndOtherAdjustments`	$2.03M	USD	2 Qtrs
Less: Deemed preferred stock dividend	`PreferredStockDividendsAndOtherAdjustments`	$2.03M	USD	1 Quarter
Less: Deemed preferred stock dividend	`PreferredStockDividendsAndOtherAdjustments`	$-2.03M	USD	Annual
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.30M	USD	2 Qtrs
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.40M	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.79M	USD	2 Qtrs
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.23M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.08	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.65	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.90M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.94M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.01M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.00M	shares	2 Qtrs

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.94M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.79M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.20M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.27M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$5.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$19.00K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$330.00K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$76.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-45.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-15.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$701.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-40.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$322.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$128.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$71.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-464.00K	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$-1.00K	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$13.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.74M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.45M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-17.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.00K	USD	2 Qtrs
Proceeds from the issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$20.00M	USD	2 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$9.04M	USD	2 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.74M	USD	2 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentOfPrincipalOnVendorFinanceAgreement`	$128.00K	USD	2 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentOfPrincipalOnVendorFinanceAgreement`	$109.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$8.08M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$19.21M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$17.45M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.62M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.37M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.76M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.92M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.38M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.37M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.76M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.92M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.38M	USD	Point-in-time
Interest paid	`InterestPaid`	$3.00K	USD	2 Qtrs
Interest paid	`InterestPaid`	$2.00K	USD	2 Qtrs
Vendor finance agreement	`VendorFinanceAgreement`	$65.00K	USD	2 Qtrs
Vendor finance agreement	`VendorFinanceAgreement`	$128.00K	USD	2 Qtrs

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, value	`StockholdersEquity`	$2.91M	USD	Point-in-time
Beginning Balance, value	`StockholdersEquity`	$19.32M	USD	Point-in-time
Beginning Balance, value	`StockholdersEquity`	$15.58M	USD	Point-in-time
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$1.42M	USD	Annual
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$7.87M	USD	2 Qtrs
Issuance of common stock upon exercise of warrants for cash, value	`IssuanceOfCommonStockUponExerciseOfWarrantsForCashValue`	$338.00K	USD	2 Qtrs
Issuance of common stock upon exercise of warrants for cash, value	`IssuanceOfCommonStockUponExerciseOfWarrantsForCashValue`	$12.00K	USD	Annual
Issuance of Series A convertible preferred stock, net of offering costs	`PreferredStockIssuedDuringPeriodValueNewIssues`	$17.92M	USD	Annual
Deemed preferred stock dividend for beneficial conversion feature	`DeemedDividendBeneficialConversionPreferredStock`	$2.03M	USD	Annual
Impact of deemed preferred stock dividend for beneficial conversion feature on common stockholders	`PreferredStockDividendsAndOtherAdjustments`	$2.03M	USD	2 Qtrs
Impact of deemed preferred stock dividend for beneficial conversion feature on common stockholders	`PreferredStockDividendsAndOtherAdjustments`	$2.03M	USD	1 Quarter
Impact of deemed preferred stock dividend for beneficial conversion feature on common stockholders	`PreferredStockDividendsAndOtherAdjustments`	$-2.03M	USD	Annual
Conversion of preferred stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$-20.00K	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$330.00K	USD	2 Qtrs
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$283.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-6.94M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.79M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.20M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.27M	USD	2 Qtrs
Ending Balance, value	`StockholdersEquity`	$2.91M	USD	Point-in-time
Ending Balance, value	`StockholdersEquity`	$19.32M	USD	Point-in-time
Ending Balance, value	`StockholdersEquity`	$15.58M	USD	Point-in-time

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