10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-010898`
Period End Date	20170331
Filing Date	20170515
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	abio-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 23 Cash Flow Statement 46 Stockholders Equity 22

Balance Sheet 52 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`	9.08M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.80M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.17M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.72M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$13.04M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$13.76M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.17M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$643.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$282.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.85M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.45M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$2.35M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$66.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$59.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$676.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$766.00K	USD	Point-in-time
Total assets	`Assets`	$24.63M	USD	Point-in-time
Total assets	`Assets`	$20.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$980.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.21M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$241.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$719.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$472.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$1.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.52M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$35.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$39.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.55M	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 March 31, 2017 and December 31, 2016; 9,172,868 and 9,082,366 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at March 31, 2017 and December 31, 2016; 9,172,868 and 9,082,366 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$134.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$134.88M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-116.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-112.51M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$38.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$18.04M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$20.59M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$24.63M	USD	Point-in-time

Income Statement 23 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$2.59M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.25M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.14M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$3.67M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$4.38M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.38M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.67M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$45.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$21.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.34M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.44M	USD	Annual
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$10.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$6.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-19.00K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.33M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.64M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.48	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.40	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.09M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.05M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.34M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.44M	USD	Annual
Depreciation	`DepreciationAndAmortization`	$7.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$5.00K	USD	1 Quarter
Amortization of other assets	`AdjustmentForAmortization`	$57.00K	USD	1 Quarter
Amortization of other assets	`AdjustmentForAmortization`	$90.00K	USD	1 Quarter
Amortization of premiums and discounts on marketable securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-55.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$101.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$155.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$74.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$277.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$7.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-234.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$380.00K	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-478.00K	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-517.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-32.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$527.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.34M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.88M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$5.20M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$1.54M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$4.55M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.20M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$3.01M	USD	1 Quarter
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$210.00K	USD	1 Quarter
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$105.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$105.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-9.09M	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-1.23M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.40M	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`	$6.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$29.72M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.40M	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`	$6.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$29.72M	USD	Point-in-time
Vendor finance agreement	`VendorFinanceAgreement`	$256.00K	USD	1 Quarter
Proceeds receivable from the issuance of common stock	`ProceedsReceivableUponIssuanceOfCommonStock`	$11.00K	USD	1 Quarter
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$47.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$10.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$6.00K	USD	1 Quarter
Payable for purchases of marketable securities	`MarketableSecuritiesPurchasedAndPayableToBroker`	$1.01M	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, shares	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	9.17M	shares	Point-in-time
Beginning Balance	`StockholdersEquity`	$22.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$38.07M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$18.04M	USD	Point-in-time
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$69.00K	USD	1 Quarter
Issuance of common stock upon vesting of Restricted Stock Units, value	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Issuance of common stock upon vesting of Restricted Stock Units, value	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$101.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$576.00K	USD	Annual
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$10.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$6.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-19.00K	USD	Annual
Other	`AdjustmentsToAdditionalPaidInCapitalOther`	$11.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-4.34M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.44M	USD	Annual
Ending Balance, shares	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	9.17M	shares	Point-in-time
Ending Balance	`StockholdersEquity`	$22.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$38.07M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$18.04M	USD	Point-in-time

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