10-K Filing

Oruka Therapeutics, Inc. CIK: 907654 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001564590-21-014148`
Period End Date	20201231
Filing Date	20210318
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	abio-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 22 Cash Flow Statement 46 Stockholders Equity 16

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.36M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$117.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$897.00K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$49.97M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$428.00K	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
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$22.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.55M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.59M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$21.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$10.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.55M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$24.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.59M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.00K	USD	Point-in-time
Total assets	`Assets`	$50.43M	USD	Point-in-time
Total assets	`Assets`	$8.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$418.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$129.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$815.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$911.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$379.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$926.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.50M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$409.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$926.00K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5 million shares authorized; no shares issued or outstanding at December 31, 2020 and 2019	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5 million shares authorized; no shares issued or outstanding at December 31, 2020 and 2019	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at December 31, 2020 and 2019; 9,548,150 and 1,594,070 shares issued and outstanding at December 31, 2020 and 2019, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at December 31, 2020 and 2019; 9,548,150 and 1,594,070 shares issued and outstanding at December 31, 2020 and 2019, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$200.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$152.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-154.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-144.42M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.03M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.61M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$46.52M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$8.54M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$50.43M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.83M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.99M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.77M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.98M	USD	Annual
Total costs and expenses	`OperatingExpenses`	$5.81M	USD	Annual
Total costs and expenses	`OperatingExpenses`	$9.77M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-9.77M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-5.81M	USD	Annual
Interest and other income	`InterestAndOtherIncome`	$172.00K	USD	Annual
Interest and other income	`InterestAndOtherIncome`	$28.00K	USD	Annual
Interest expense	`InterestExpense`	$7.00K	USD	Annual
Interest expense	`InterestExpense`	$9.00K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.65M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.75M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-167.00K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-9.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-5.48M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.74M	USD	Annual
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-4.15	USD	Annual
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-2.07	USD	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.71M	shares	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.32M	shares	Annual

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.48M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.74M	USD	Annual
Depreciation	`DepreciationAndAmortization`	$18.00K	USD	Annual
Depreciation	`DepreciationAndAmortization`	$8.00K	USD	Annual
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$85.00K	USD	Annual
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$71.00K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$151.00K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$43.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$348.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-401.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$12.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$188.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.10M	USD	Annual
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-21.00K	USD	Annual
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$686.00K	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-127.00K	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$450.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.80M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.72M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.00K	USD	Annual
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$50.89M	USD	Annual
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$7.28M	USD	Annual
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$372.00K	USD	Annual
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$2.03M	USD	Annual
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$349.00K	USD	Annual
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$408.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$48.45M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.56M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$40.71M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.75M	USD	Annual
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.07M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.36M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.61M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.07M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.36M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.61M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$7.00K	USD	Annual
Interest paid	`InterestPaidNet`	$9.00K	USD	Annual
Income tax refund received	`ProceedsFromIncomeTaxRefunds`	$167.00K	USD	Annual
Income tax refund received	`ProceedsFromIncomeTaxRefunds`	$9.00K	USD	Annual
Leased assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$491.00K	USD	Annual
Leased assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$93.00K	USD	Annual
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$254.00K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$6.03M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$7.61M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$46.52M	USD	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	9.55M	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`	$6.91M	USD	Annual
Issuance of common stock and exercise of prefunded warrants for cash, net of offering costs	`IssuanceOfCommonStockAndExerciseOfPrefundedWarrants`	$48.61M	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$151.00K	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$43.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-5.48M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.74M	USD	Annual
Ending Balance	`StockholdersEquity`	$6.03M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$7.61M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$46.52M	USD	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	9.55M	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.