10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-041051`
Period End Date	20190930
Filing Date	20191106
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	abio-20190930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 55 Cash Flow Statement 57 Stockholders Equity 45

Balance Sheet 47 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`	1.59M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.61M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	773,558.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$259.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	773,558.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.59M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$169.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.90M	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$11.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$10.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.00K	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`	$6.83M	USD	Point-in-time
Total assets	`Assets`	$9.95M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$135.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$230.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$158.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$150.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$857.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$413.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$793.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.15M	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, 2019 and December 31, 2018; 1,594,070 and 773,558 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at September 30, 2019 and December 31, 2018; 1,594,070 and 773,558 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$144.97M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-138.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-143.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$9.00M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.32M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.03M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$8.80M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$9.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.46M	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`	$6.83M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$9.95M	USD	Point-in-time

Income Statement 55 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$740.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$347.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.45M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.61M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$922.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$900.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.09M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.98M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$1.25M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$6.59M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$1.66M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$4.54M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.54M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.25M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.66M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.59M	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$40.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$50.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$124.00K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$136.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$8.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.47M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.41M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.62M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.20M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-42.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-151.00K	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-31.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-31.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.73M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.59M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.44M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.26M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.49M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	3 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.59M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.26M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.16M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.44M	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-8.39	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-2.06	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.76	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-3.46	USD	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	773,545.00	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	767,989.00	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.23M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.52M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.73M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.59M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.44M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.26M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.49M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$17.00K	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$16.00K	USD	3 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortization`	$49.00K	USD	3 Qtrs
Amortization of premiums and discounts on marketable securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-2.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$215.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$124.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-259.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-522.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-95.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-405.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-573.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$8.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$252.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-235.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.64M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.90M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	3 Qtrs
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$3.05M	USD	3 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.05M	USD	3 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00K	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$7.28M	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.53M	USD	3 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$368.00K	USD	3 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$117.00K	USD	3 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$231.00K	USD	3 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$206.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.21M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.68M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-646.00K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.04M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.64M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.70M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.06M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.61M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.64M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.70M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.06M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.61M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$6.00K	USD	3 Qtrs
Interest paid	`InterestPaidNet`	$6.00K	USD	3 Qtrs
Income tax refund received	`ProceedsFromIncomeTaxRefunds`	$31.00K	USD	3 Qtrs
Income tax refund received	`ProceedsFromIncomeTaxRefunds`	$151.00K	USD	3 Qtrs
Vendor finance agreement	`VendorFinanceAgreement`	$105.00K	USD	3 Qtrs
Vendor finance agreement	`VendorFinanceAgreement`	$118.00K	USD	3 Qtrs
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$14.00K	USD	3 Qtrs
Leased assets obtained in exchange for operating lease liabilities, upon adoption	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$60.00K	USD	3 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$2.00K	USD	3 Qtrs

Stockholders Equity 45 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$9.00M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$7.32M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$6.03M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$8.80M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$9.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$7.46M	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`	773,558.00	shares	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	1.59M	shares	Point-in-time
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$2.90M	USD	1 Quarter
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$3.26M	USD	1 Quarter
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`	$737.00K	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	1 Quarter
Issuance of common stock upon vesting of Restricted Stock Units, value	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$50.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$97.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$58.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$58.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$45.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$60.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$29.00K	USD	1 Quarter
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	3 Qtrs
Change in unrealized loss on marketable securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.73M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.59M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.44M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.26M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.49M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$9.00M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$7.32M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$6.03M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$8.80M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$9.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$7.46M	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`	773,558.00	shares	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	1.59M	shares	Point-in-time

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