10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-053546`
Period End Date	20210930
Filing Date	20211102
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	abio-10q_20210930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 44 Cash Flow Statement 56 Stockholders Equity 40

Balance Sheet 52 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`	$49.07M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.55M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.31M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.41M	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`	$1.35M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.55M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$49.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$59.67M	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$460.00K	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$428.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$48.00K	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`	$18.00K	USD	Point-in-time
Total assets	`Assets`	$60.19M	USD	Point-in-time
Total assets	`Assets`	$50.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.77M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$815.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$146.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$911.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$1.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.18M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$410.00K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$409.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.59M	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 September 30, 2021 and December 31, 2020; 14,410,143 and 9,548,150 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at September 30, 2021 and December 31, 2020; 14,410,143 and 9,548,150 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$200.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$224.39M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-167.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-154.15M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$56.60M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.61M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.31M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$46.52M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$65.91M	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`	$61.21M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$60.19M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$50.43M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$9.89M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.79M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.05M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.44M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.85M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.76M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$939.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.28M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$4.64M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$13.65M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$4.72M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$1.99M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-13.65M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.99M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.72M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.64M	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$1.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$27.00K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$9.00K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$4.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$9.00K	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.62M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-13.65M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.99M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.71M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-9.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.65M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.30M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.99	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.46	USD	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.15M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.41M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.73M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.04M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.65M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.30M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$6.00K	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$11.00K	USD	3 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$52.00K	USD	3 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$71.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$378.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$25.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$281.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$439.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$12.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$6.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$83.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-405.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-670.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$92.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$910.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-101.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.73M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.81M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$36.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-36.00K	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$24.07M	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$49.64M	USD	3 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$1.91M	USD	3 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$977.00K	USD	3 Qtrs
Repayment of principal on vendor finance agreement	`RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths`	$271.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$23.09M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$47.47M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.24M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$42.73M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$58.31M	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`	$51.09M	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`	$58.31M	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`	$51.09M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.36M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$7.00K	USD	3 Qtrs
Income tax refund received	`ProceedsFromIncomeTaxRefunds`	$9.00K	USD	3 Qtrs
Leased assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$49.00K	USD	3 Qtrs
Leased assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$84.00K	USD	3 Qtrs
Purchases of property and equipment in accrued liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$2.00K	USD	3 Qtrs
Vendor finance agreement	`VendorFinanceAgreement`	$137.00K	USD	3 Qtrs
Common stock offering costs accrued but not yet paid	`CommonStockOfferingCostsAccruedReversalButNotYetPaid`	$336.00K	USD	3 Qtrs
Proceeds receivable from the issuance of common stock	`ProceedsReceivableUponIssuanceOfCommonStock`	$30.00K	USD	3 Qtrs

Stockholders Equity 40 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$56.60M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$7.61M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$6.31M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$46.52M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$65.91M	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`	$61.21M	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`	$42.14M	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`	$1.17M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$141.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$104.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$133.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$16.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.65M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.30M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$56.60M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$7.61M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$6.31M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$46.52M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$65.91M	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`	$61.21M	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.