10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-021065`
Period End Date	20180630
Filing Date	20180809
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	abio-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 45 Cash Flow Statement 56 Stockholders Equity 25

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`	$8.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.63M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.92M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$3.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.92M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.78M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$375.00K	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`	$10.01M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$42.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$33.00K	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`	$10.07M	USD	Point-in-time
Total assets	`Assets`	$12.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$622.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$406.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$134.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$757.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$520.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$691.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.06M	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`	$9.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.07M	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 June 30, 2018 and December 31, 2017; 13,923,825 and 11,775,062 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$12.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at June 30, 2018 and December 31, 2017; 13,923,825 and 11,775,062 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$144.84M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$141.27M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-135.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-131.00M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$9.00M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$10.28M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.37M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$10.07M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$4.51M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.87M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$7.75M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.15M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.05M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.06M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.19M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$5.56M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$2.16M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$4.93M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$9.94M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.93M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.56M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.16M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.94M	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$39.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$84.00K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$84.00K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$43.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$6.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$4.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-9.86M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-18.49M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.85M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$14.00K	USD	2 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	2 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$4.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$17.00K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.85M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-5.52M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.12M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-9.85M	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.59	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.35	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.07	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.92M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.32M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.21M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.77M	shares	2 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.86M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-18.49M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.85M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$14.00K	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$11.00K	USD	2 Qtrs
Amortization of other assets	`AdjustmentForAmortization`	$179.00K	USD	2 Qtrs
Amortization of premiums and discounts on marketable securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-2.00K	USD	2 Qtrs
Amortization of premiums and discounts on marketable securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-91.00K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$220.00K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$157.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-483.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-102.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-141.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-217.00K	USD	2 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-623.00K	USD	2 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-578.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-287.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$671.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.30M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.33M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$2.04M	USD	2 Qtrs
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$3.05M	USD	2 Qtrs
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$11.15M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.05M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$9.11M	USD	2 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.28M	USD	2 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.53M	USD	2 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$117.00K	USD	2 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$221.00K	USD	2 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$170.00K	USD	2 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$206.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.89M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.21M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$933.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.70M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.70M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.40M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.10M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.63M	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`	$7.40M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.63M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$6.00K	USD	2 Qtrs
Interest paid	`InterestPaidNet`	$4.00K	USD	2 Qtrs
Vendor finance agreement	`VendorFinanceAgreement`	$105.00K	USD	2 Qtrs
Vendor finance agreement	`VendorFinanceAgreement`	$86.00K	USD	2 Qtrs
Purchases of property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$1.00K	USD	2 Qtrs
Proceeds receivable from the issuance of common stock	`ProceedsReceivableUponIssuanceOfCommonStock`	$-198.00K	USD	2 Qtrs
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$82.00K	USD	2 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$2.00K	USD	2 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$14.00K	USD	2 Qtrs

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$9.00M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$22.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$10.28M	USD	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	13.92M	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`	$6.10M	USD	Annual
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$3.42M	USD	2 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	2 Qtrs
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$458.00K	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$157.00K	USD	2 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$14.00K	USD	2 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	2 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$4.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$17.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-9.86M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-18.49M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.85M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$9.00M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$22.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$10.28M	USD	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	13.92M	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.