10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001564590-22-027468`
Period End Date	20220630
Filing Date	20220802
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	abio-10q_20220630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 45 Cash Flow Statement 45 Stockholders Equity 33

Balance Sheet 51 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`	$46.44M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.41M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.41M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.36M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.06M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$54.42M	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$437.00K	USD	Point-in-time
Right-of-use asset - operating	`OperatingLeaseRightOfUseAsset`	$391.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$48.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$37.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Total assets	`Assets`	$48.10M	USD	Point-in-time
Total assets	`Assets`	$54.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.11M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.12M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$925.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$324.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$1.46M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$1.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.81M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$383.00K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$329.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.88M	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 June 30, 2022 and December 31, 2021; 14,410,143 shares issued and outstanding at June 30, 2022 and December 31, 2021	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at June 30, 2022 and December 31, 2021; 14,410,143 shares issued and outstanding at June 30, 2022 and December 31, 2021	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$224.84M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$224.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-173.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-179.90M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$65.91M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$47.94M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$61.21M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$56.60M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$51.04M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$46.52M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$44.96M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$48.10M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$54.92M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$3.58M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.49M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.66M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$6.45M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.49M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.26M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.73M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.83M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$8.94M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$6.50M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$4.84M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$3.22M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.84M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.94M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.50M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.22M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$3.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$79.00K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$72.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$5.00K	USD	2 Qtrs
Other loss	`OtherNonoperatingExpense`	$2.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-8.93M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.42M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.67	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.34	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.22	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.45	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.67	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.34	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.22	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.45	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	13.39M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.39M	shares	2 Qtrs

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.93M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.42M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$6.00K	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$11.00K	USD	2 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$46.00K	USD	2 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$30.00K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$274.00K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$339.00K	USD	2 Qtrs
Loss from disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$697.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$156.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$6.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$661.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.00K	USD	2 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-609.00K	USD	2 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-601.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-135.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$330.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.95M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.92M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.00K	USD	2 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$24.07M	USD	2 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$977.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$23.09M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-6.92M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$14.13M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.07M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$63.20M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$53.36M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.44M	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`	$63.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$53.36M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.44M	USD	Point-in-time
Leased assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$84.00K	USD	2 Qtrs
Purchases of property and equipment in accrued liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$8.00K	USD	2 Qtrs

Stockholders Equity 33 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$65.91M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$47.94M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$61.21M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$56.60M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$51.04M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$46.52M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$44.96M	USD	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Beginning Balance, shares	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Issuance of common stock for cash, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$23.35M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$141.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$172.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$133.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$167.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$104.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$119.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.93M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.42M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$65.91M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$47.94M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$61.21M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$56.60M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$51.04M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$46.52M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$44.96M	USD	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Ending Balance, shares	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time

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