10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-026534`
Period End Date	20210331
Filing Date	20210511
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	abio-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 20 Cash Flow Statement 41 Stockholders Equity 30

Balance Sheet 50 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`	14.41M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.07M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.55M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$897.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.80M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.55M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$68.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$49.97M	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$428.00K	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$414.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$21.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.00K	USD	Point-in-time
Total assets	`Assets`	$69.18M	USD	Point-in-time
Total assets	`Assets`	$50.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.58M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.77M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$255.00K	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`	$1.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.88M	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
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$394.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.91M	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, 2021 and December 31, 2020; 14,410,143 and 9,548,150 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at March 31, 2021 and December 31, 2020; 14,410,143 and 9,548,150 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$200.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$224.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-154.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-158.25M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$65.91M	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 stockholders equity	`StockholdersEquity`	$50.45M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$10.30M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.31M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$69.18M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$50.43M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$365.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.88M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$975.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.23M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$1.34M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$4.10M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.34M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.10M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$24.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.30M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.83	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.36M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.59M	shares	1 Quarter

Cash Flow Statement 41 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.30M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$3.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$3.00K	USD	1 Quarter
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$22.00K	USD	1 Quarter
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$14.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$141.00K	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`	$840.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$56.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-293.00K	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-560.00K	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$60.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-99.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$61.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.22M	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
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.00K	USD	1 Quarter
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$24.07M	USD	1 Quarter
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$977.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$23.09M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$17.86M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.69M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.36M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.07M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$66.93M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.67M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.36M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$66.93M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.67M	USD	Point-in-time
Purchases of property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$3.00K	USD	1 Quarter
Vendor finance agreement	`VendorFinanceAgreement`	$408.00K	USD	1 Quarter
Leased assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$49.00K	USD	1 Quarter

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$65.91M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$7.61M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$46.52M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$50.45M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$10.30M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$6.31M	USD	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	9.55M	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`	$23.35M	USD	1 Quarter
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$42.14M	USD	1 Quarter
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$1.17M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$16.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$141.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.30M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$65.91M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$7.61M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$46.52M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$50.45M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$10.30M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$6.31M	USD	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	9.55M	shares	Point-in-time

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