10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-049656`
Period End Date	20200930
Filing Date	20201102
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	abio-20200930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 48 Cash Flow Statement 59 Stockholders Equity 42

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.36M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.29M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.59M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.09M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$841.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.29M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$117.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.59M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$51.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.48M	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`	$36.00K	USD	Point-in-time
Total assets	`Assets`	$8.54M	USD	Point-in-time
Total assets	`Assets`	$51.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$418.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$761.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$129.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$221.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$379.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$545.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$926.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.53M	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, 2020 and December 31, 2019; 9,285,624 and 1,594,070 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at September 30, 2020 and December 31, 2019; 9,285,624 and 1,594,070 shares issued and outstanding at September 30, 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`	$199.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-144.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-149.03M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.31M	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`	$9.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$10.30M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$50.45M	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 liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$51.98M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$8.54M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.45M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.05M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.79M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$347.00K	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`	$2.85M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$939.00K	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$4.64M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$4.54M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$1.25M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$1.99M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.25M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.54M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.64M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.99M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$50.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$27.00K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$1.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$136.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$9.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.41M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.99M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.20M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.62M	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-42.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-9.00K	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-151.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.30M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.23M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.26M	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.46	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-3.46	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.76	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.15M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.04M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.52M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.23M	shares	3 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.30M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.23M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.26M	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$6.00K	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$16.00K	USD	3 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$49.00K	USD	3 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$71.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$25.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$124.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$281.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-259.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$12.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$83.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-95.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$92.00K	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`	$-101.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.64M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.73M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.00K	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$49.64M	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$7.28M	USD	3 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$1.91M	USD	3 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$368.00K	USD	3 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$271.00K	USD	3 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$231.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.68M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$47.47M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.04M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$42.73M	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`	$51.09M	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`	$9.64M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.09M	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
Interest paid	`InterestPaidNet`	$6.00K	USD	3 Qtrs
Interest paid	`InterestPaidNet`	$7.00K	USD	3 Qtrs
Income tax refund received	`ProceedsFromIncomeTaxRefunds`	$9.00K	USD	3 Qtrs
Income tax refund received	`ProceedsFromIncomeTaxRefunds`	$151.00K	USD	3 Qtrs
Vendor finance agreement	`VendorFinanceAgreement`	$137.00K	USD	3 Qtrs
Vendor finance agreement	`VendorFinanceAgreement`	$118.00K	USD	3 Qtrs
Proceeds receivable from the issuance of common stock	`ProceedsReceivableUponIssuanceOfCommonStock`	$30.00K	USD	3 Qtrs
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$336.00K	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 extension and adoption	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$60.00K	USD	3 Qtrs
Leased assets obtained in exchange for operating lease liabilities, upon extension and adoption	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$49.00K	USD	3 Qtrs

Stockholders Equity 42 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$6.31M	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`	$9.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$10.30M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$50.45M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$6.03M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$8.80M	USD	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	9.29M	shares	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	1.59M	shares	Point-in-time
Issuance of common stock and exercise of prefunded warrants for cash,net of offering costs	`IssuanceOfCommonStockAndExerciseOfPrefundedWarrants`	$5.30M	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`	$2.90M	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`	$42.14M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$16.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$29.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$27.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$50.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$45.00K	USD	1 Quarter
Other	`StockholdersEquityOther`	$10.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.30M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.23M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.26M	USD	3 Qtrs
Ending Balance	`StockholdersEquity`	$6.31M	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`	$9.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$10.30M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$50.45M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$6.03M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$8.80M	USD	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	9.29M	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.