10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-021946`
Period End Date	20200331
Filing Date	20200506
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	abio-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 24 Cash Flow Statement 42 Stockholders Equity 30

Balance Sheet 46 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`	$8.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.67M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.59M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.59M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$704.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.59M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$117.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.48M	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$49.00K	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$22.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$10.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$10.00K	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`	$8.54M	USD	Point-in-time
Total assets	`Assets`	$7.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$167.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$418.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$189.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$129.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$799.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$379.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$926.00K	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, 2020 and December 31, 2019; 1,594,070 and 1,594,070 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at March 31, 2020 and December 31, 2019; 1,594,070 and 1,594,070 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$152.02M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$152.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-144.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-145.74M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$9.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.61M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.32M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.31M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$8.80M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.03M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$7.46M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$8.54M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$662.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$365.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.12M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$975.00K	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$1.78M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$1.34M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.34M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.78M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$38.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$24.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.32M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.75M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-82.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.23M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.83	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.86	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	895,970.00	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.59M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.23M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$3.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$5.00K	USD	1 Quarter
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortization`	$16.00K	USD	1 Quarter
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortization`	$22.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$50.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$16.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$75.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-5.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-293.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.00K	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$60.00K	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$56.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-32.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-99.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.57M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.69M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.00K	USD	1 Quarter
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.08M	USD	1 Quarter
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$117.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.96M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.40M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.69M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.67M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.61M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.36M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.67M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.61M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.36M	USD	Point-in-time
Income tax refund received	`ProceedsFromIncomeTaxRefunds`	$82.00K	USD	1 Quarter
Vendor finance agreement	`VendorFinanceAgreement`	$408.00K	USD	1 Quarter
Vendor finance agreement	`VendorFinanceAgreement`	$349.00K	USD	1 Quarter
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$64.00K	USD	1 Quarter
Leased assets obtained in exchange for operating lease liabilities, upon adoption and extension	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$60.00K	USD	1 Quarter
Leased assets obtained in exchange for operating lease liabilities, upon adoption and extension	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$49.00K	USD	1 Quarter

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$9.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$7.61M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$7.32M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$6.31M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$8.80M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$6.03M	USD	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	1.59M	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`	$3.26M	USD	1 Quarter
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$737.00K	USD	1 Quarter
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$2.90M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$29.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$45.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$50.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$16.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$27.00K	USD	1 Quarter
Other	`StockholdersEquityOther`	$10.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.23M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$9.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$7.61M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$7.32M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$6.31M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$8.80M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$6.03M	USD	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	1.59M	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.