10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-029259`
Period End Date	20160930
Filing Date	20161114
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	abio-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 41 Cash Flow Statement 51 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`	$38.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.48M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.05M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.35M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.05M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$15.37M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$114.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$320.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.79M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.92M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$3.97M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$28.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$69.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$855.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$630.00K	USD	Point-in-time
Total assets	`Assets`	$28.68M	USD	Point-in-time
Total assets	`Assets`	$39.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$364.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.14M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$669.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$162.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$471.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$853.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.50M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$43.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.20M	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 September 30, 2016 and December 31, 2015; 9,080,703 and 9,051,217 shares issued and outstanding at September 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 September 30, 2016 and December 31, 2015; 9,080,703 and 9,051,217 shares issued and outstanding at September 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`	$134.74M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-96.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-108.27M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.74M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$26.48M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$38.07M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$39.57M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$28.68M	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$5.17M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$9.23M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.72M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.72M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$992.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.09M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.11M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.10M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$8.28M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$4.71M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$12.32M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$2.82M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.71M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.28M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-12.32M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.82M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$4.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$121.00K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$7.00K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$53.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-8.28M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-11.45M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.81M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.20M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.66M	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-6.00K	USD	3 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-19.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.81M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.68M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-12.21M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.28M	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.51	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.35	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.54	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.03M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.06M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.07M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.36M	shares	3 Qtrs

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.28M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-11.45M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.81M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.20M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.66M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$14.00K	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$17.00K	USD	3 Qtrs
Amortization of other assets	`AdjustmentForAmortization`	$133.00K	USD	3 Qtrs
Amortization of other assets	`AdjustmentForAmortization`	$207.00K	USD	3 Qtrs
Amortization of premiums and discounts on marketable securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-100.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$605.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$454.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-147.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$98.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$303.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$229.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$648.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-167.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-215.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-507.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$391.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$229.00K	USD	3 Qtrs
Other	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-5.00K	USD	3 Qtrs
Other	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-3.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-11.14M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.91M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.00K	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$20.50M	USD	3 Qtrs
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$950.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-9.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-19.56M	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$37.00M	USD	3 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$2.76M	USD	3 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$193.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$34.05M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$26.13M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-30.71M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.80M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.10M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$41.48M	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`	$38.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$41.48M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.35M	USD	Point-in-time
Interest paid	`InterestPaid`	$4.00K	USD	3 Qtrs
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$-11.00K	USD	3 Qtrs
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$69.00K	USD	3 Qtrs
Change in unrealized loss on marketable securities	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$-6.00K	USD	3 Qtrs
Leasehold improvement lease incentive	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$48.00K	USD	3 Qtrs

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, shares	`CommonStockSharesOutstanding`	9.05M	shares	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Beginning Balance	`StockholdersEquity`	$14.74M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$26.48M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$38.07M	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	3 Qtrs
Issuance of common stock upon vesting of Restricted Stock Units, value	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$605.00K	USD	3 Qtrs
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$599.00K	USD	Annual
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-6.00K	USD	3 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-19.00K	USD	1 Quarter
Other	`AdjustmentsToAdditionalPaidInCapitalOther`	$11.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-8.28M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-11.45M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.81M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.20M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.66M	USD	1 Quarter
Ending Balance, shares	`CommonStockSharesOutstanding`	9.05M	shares	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Ending Balance	`StockholdersEquity`	$14.74M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$26.48M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$38.07M	USD	Point-in-time

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