10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-023278`
Period End Date	20170930
Filing Date	20171109
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	abio-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 44 Cash Flow Statement 52 Stockholders Equity 26

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`	11.75M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.80M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$13.76M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$7.81M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.75M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$282.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$425.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.38M	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`	$48.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$66.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$766.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$497.00K	USD	Point-in-time
Total assets	`Assets`	$24.63M	USD	Point-in-time
Total assets	`Assets`	$16.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.24M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$719.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$193.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$1.11M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$472.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.54M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$39.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$25.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.44M	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, 2017 and December 31, 2016; 11,750,744 and 9,082,366 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at September 30, 2017 and December 31, 2016; 11,750,744 and 9,082,366 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$12.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$134.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$141.15M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-126.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-112.51M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.35M	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 liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$16.92M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$24.63M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$3.49M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$11.24M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$9.23M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.72M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$992.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$987.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.17M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.09M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$14.41M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$4.47M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$12.32M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$4.71M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.47M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-12.32M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-14.41M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.71M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$121.00K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$44.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$53.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$128.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$6.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.20M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-14.29M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.44M	USD	Annual
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-19.00K	USD	Annual
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-6.00K	USD	3 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$16.00K	USD	3 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-19.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-12.21M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.43M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-14.28M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.68M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.39	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.51	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.43	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.35	USD	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.06M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.07M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.98M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.50M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.20M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-14.29M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.44M	USD	Annual
Depreciation	`DepreciationAndAmortization`	$21.00K	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$17.00K	USD	3 Qtrs
Amortization of other assets	`AdjustmentForAmortization`	$207.00K	USD	3 Qtrs
Amortization of other assets	`AdjustmentForAmortization`	$269.00K	USD	3 Qtrs
Amortization of premiums and discounts on marketable securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-100.00K	USD	3 Qtrs
Amortization of premiums and discounts on marketable securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-109.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$605.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$339.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$98.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-186.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$303.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$29.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$648.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-526.00K	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`	$590.00K	USD	3 Qtrs
Other	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-5.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-11.14M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-13.28M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.00K	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$5.47M	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
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$13.65M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$8.18M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-19.56M	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$6.51M	USD	3 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$419.00K	USD	3 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$256.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.84M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$741.00K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-30.71M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.40M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.14M	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`	$38.80M	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`	$8.14M	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`	$38.80M	USD	Point-in-time
Interest paid	`InterestPaid`	$6.00K	USD	3 Qtrs
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$-11.00K	USD	3 Qtrs
Change in unrealized loss on marketable securities	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$16.00K	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 26 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$14.35M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$22.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$38.07M	USD	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	11.75M	shares	Point-in-time
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$6.10M	USD	3 Qtrs
Issuance of common stock upon vesting of Restricted Stock Units, value	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Issuance of common stock upon vesting of Restricted Stock Units, value	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	3 Qtrs
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$339.00K	USD	3 Qtrs
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$576.00K	USD	Annual
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-19.00K	USD	Annual
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-6.00K	USD	3 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$16.00K	USD	3 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-19.00K	USD	1 Quarter
Other	`AdjustmentsToAdditionalPaidInCapitalOther`	$11.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.20M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-14.29M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.44M	USD	Annual
Ending Balance	`StockholdersEquity`	$14.35M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$22.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$38.07M	USD	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	11.75M	shares	Point-in-time

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