10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-011830`
Period End Date	20180331
Filing Date	20180508
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	abio-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 24 Cash Flow Statement 49 Stockholders Equity 22

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
Common stock, shares issued	`CommonStockSharesIssued`	11.78M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.91M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$3.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.91M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.78M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$631.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$547.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.73M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$37.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$42.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$24.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$24.00K	USD	Point-in-time
Total assets	`Assets`	$12.37M	USD	Point-in-time
Total assets	`Assets`	$12.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$772.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$622.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$757.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$239.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$691.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$708.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.07M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$20.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$15.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.73M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.09M	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, 2018 and December 31, 2017; 13,914,320 and 11,775,062 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$12.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at March 31, 2018 and December 31, 2017; 13,914,320 and 11,775,062 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$141.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$144.78M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-131.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-133.74M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$11.05M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$10.28M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.79M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.37M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.72M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.25M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.14M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.05M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$2.77M	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`	$-2.77M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$45.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$41.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.34M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.73M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-18.49M	USD	Annual
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$10.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$17.00K	USD	Annual
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.33M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.73M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.48	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.20	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.09M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.62M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.34M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.73M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-18.49M	USD	Annual
Depreciation	`DepreciationAndAmortization`	$7.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$6.00K	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
Amortization of premiums and discounts on marketable securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-2.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$97.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$101.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$74.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-287.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-234.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-14.00K	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-478.00K	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-518.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-196.00K	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`	$-3.07M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$1.54M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$3.05M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$4.55M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$3.05M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$3.01M	USD	1 Quarter
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$210.00K	USD	1 Quarter
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.53M	USD	1 Quarter
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$116.00K	USD	1 Quarter
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$105.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.42M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$105.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-1.23M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$3.39M	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`	$8.70M	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`	$12.10M	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`	$8.70M	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`	$12.10M	USD	Point-in-time
Vendor finance agreement	`VendorFinanceAgreement`	$311.00K	USD	1 Quarter
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
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$1.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$2.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$10.00K	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$22.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.05M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$10.28M	USD	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	13.91M	shares	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	11.78M	shares	Point-in-time
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$3.42M	USD	1 Quarter
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$6.10M	USD	Annual
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	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$97.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$458.00K	USD	Annual
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$10.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$17.00K	USD	Annual
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.34M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.73M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-18.49M	USD	Annual
Ending Balance	`StockholdersEquity`	$22.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.05M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$10.28M	USD	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	13.91M	shares	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	11.78M	shares	Point-in-time

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