10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-023718`
Period End Date	20160630
Filing Date	20160809
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	abio-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 41 Cash Flow Statement 52 Stockholders Equity 23

Balance Sheet 49 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.09M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.05M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.07M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.35M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$11.98M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.05M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$114.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$377.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.73M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$5.01M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$76.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$28.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$630.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$816.00K	USD	Point-in-time
Total assets	`Assets`	$39.57M	USD	Point-in-time
Total assets	`Assets`	$32.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$760.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$364.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$100.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$669.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$837.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$471.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.70M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$47.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.74M	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, 2016 and December 31, 2015; 9,066,348 and 9,051,217 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at June 30, 2016 and December 31, 2015; 9,066,348 and 9,051,217 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$134.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$134.48M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$13.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-96.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-103.61M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$30.89M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$38.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.74M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$32.63M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$39.57M	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$2.91M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.45M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$5.51M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.75M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.01M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.03M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$972.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.10M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$7.61M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$5.46M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$3.94M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$2.72M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.72M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.46M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-7.61M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.94M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$2.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$68.00K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$47.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$3.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.45M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.46M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.72M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.54M	USD	2 Qtrs
Change in unrealized gain on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$13.00K	USD	2 Qtrs
Change in unrealized gain on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$7.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.72M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-5.46M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.89M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-7.53M	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.69	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.57	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.83	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.43	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.95M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.06M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.49M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.07M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.45M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.46M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.72M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.54M	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$9.00K	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$9.00K	USD	2 Qtrs
Amortization of other assets	`AdjustmentForAmortization`	$117.00K	USD	2 Qtrs
Amortization of other assets	`AdjustmentForAmortization`	$78.00K	USD	2 Qtrs
Amortization of premiums and discounts on marketable securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-38.00K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$338.00K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$305.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$263.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-86.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$303.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$224.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$391.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-198.00K	USD	2 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-127.00K	USD	2 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-569.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$375.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$24.00K	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-2.00K	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.51M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.41M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$17.46M	USD	2 Qtrs
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$450.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-17.01M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.00K	USD	2 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$37.00M	USD	2 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$2.61M	USD	2 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$138.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$34.25M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-24.42M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$28.73M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.38M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$44.09M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.80M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.35M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.38M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$44.09M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.35M	USD	Point-in-time
Interest paid	`InterestPaid`	$3.00K	USD	2 Qtrs
Vendor finance agreement	`VendorFinanceAgreement`	$55.00K	USD	2 Qtrs
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$-11.00K	USD	2 Qtrs
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$214.00K	USD	2 Qtrs
Change in unrealized gain on marketable securities	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$13.00K	USD	2 Qtrs
Leasehold improvement lease incentive	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$48.00K	USD	2 Qtrs

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, shares	`CommonStockSharesOutstanding`	9.07M	shares	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	9.05M	shares	Point-in-time
Beginning Balance	`StockholdersEquity`	$30.89M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$38.07M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$14.74M	USD	Point-in-time
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$34.17M	USD	Annual
Issuance of common stock upon vesting of Restricted Stock Units, value	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	2 Qtrs
Issuance of common stock upon vesting of Restricted Stock Units, value	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$599.00K	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$338.00K	USD	2 Qtrs
Change in unrealized gain on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$13.00K	USD	2 Qtrs
Change in unrealized gain on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$7.00K	USD	1 Quarter
Other	`AdjustmentsToAdditionalPaidInCapitalOther`	$11.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.45M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.46M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.72M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.54M	USD	2 Qtrs
Ending Balance, shares	`CommonStockSharesOutstanding`	9.07M	shares	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	9.05M	shares	Point-in-time
Ending Balance	`StockholdersEquity`	$30.89M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$38.07M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$14.74M	USD	Point-in-time

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