10-Q Filing

Oruka Therapeutics, Inc. CIK: 907654 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001564590-22-035668`
Period End Date	20220930
Filing Date	20221028
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	abio-10q_20220930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 47 Cash Flow Statement 46 Stockholders Equity 37

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`	$43.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.36M	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.41M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$611.00K	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
Total current assets	`AssetsCurrent`	$44.55M	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`	$367.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$48.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$30.00K	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`	$54.92M	USD	Point-in-time
Total assets	`Assets`	$44.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$593.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.12M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$333.00K	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$925.00K	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$1.01M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherAccruedLiabilitiesCurrent`	$1.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.94M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$301.00K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$383.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.24M	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 September 30, 2022 and December 31, 2021; 14,410,143 shares issued and outstanding at September 30, 2022 and December 31, 2021	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock, $0.001 par value; 100 million shares authorized at September 30, 2022 and December 31, 2021; 14,410,143 shares issued and outstanding at September 30, 2022 and December 31, 2021	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$224.94M	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`	$-182.23M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$42.73M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$47.94M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$56.60M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$44.96M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$61.21M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$46.52M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$51.04M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$65.91M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$44.97M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$54.92M	USD	Point-in-time

Income Statement 47 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.02M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.69M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$9.89M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.44M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.28M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.76M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.36M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.53M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$13.65M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$2.55M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$9.05M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$4.72M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.55M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-13.65M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-9.05M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.72M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$301.00K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$9.00K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$4.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$222.00K	USD	1 Quarter
Other loss	`OtherNonoperatingExpense`	$3.00K	USD	1 Quarter
Other loss	`OtherNonoperatingExpense`	$5.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.75M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.65M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.16	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.61	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$-0.99	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$-0.33	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.16	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.33	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.99	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.61	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.41M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	13.73M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.73M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.41M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.75M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.65M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$11.00K	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$15.00K	USD	3 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$52.00K	USD	3 Qtrs
Amortization of right-of-use asset - operating	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$70.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$436.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$378.00K	USD	3 Qtrs
Loss from disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-5.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$439.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-451.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$6.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-405.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-524.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-670.00K	USD	3 Qtrs
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-592.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-527.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$910.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.81M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.42M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$36.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-36.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00K	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$24.07M	USD	3 Qtrs
Common stock offering costs	`PaymentsOfStockIssuanceCosts`	$977.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$23.09M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.42M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.24M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.07M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$58.31M	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`	$43.94M	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`	$58.31M	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`	$43.94M	USD	Point-in-time
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

Stockholders Equity 37 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$42.73M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$47.94M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$56.60M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$44.96M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$61.21M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$46.52M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$51.04M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$65.91M	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`	$133.00K	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`	$119.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$104.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$167.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$97.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.75M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.65M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.15M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$42.73M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$47.94M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$56.60M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$44.96M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$61.21M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$46.52M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$51.04M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$65.91M	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.