$ORKA
Oruka Therapeutics, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024089246 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.992M
YoY Change 74.05%
% of Gross Profit
Research & Development $25.69M $130.0K
YoY Change 7878.57% -48.82%
% of Gross Profit
Depreciation & Amortization $3.000K
YoY Change -25.0%
% of Gross Profit
Operating Expenses $29.45M $3.122M
YoY Change 1420.34% 58.24%
Operating Profit -$29.45M -$3.122M
YoY Change 1420.34% 58.24%
Interest Expense $444.0K
YoY Change -9.94%
% of Operating Profit
Other Income/Expense, Net $13.40M
YoY Change
Pretax Income -$2.678M
YoY Change 80.95%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$28.60M -$2.678M
YoY Change 1908.43% 80.95%
Net Earnings / Revenue
Basic Earnings Per Share -$1.46 -$0.18
Diluted Earnings Per Share -$1.46 -$0.18
COMMON SHARES
Basic Shares Outstanding 14.51M 14.51M
Diluted Shares Outstanding 15.01M shares 14.51M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.28M
YoY Change -17.12%
Cash & Equivalents $410.9M $33.28M
Short-Term Investments
Other Short-Term Assets $537.0K
YoY Change -10.35%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $412.9M $33.82M
YoY Change 961.78% -17.02%
LONG-TERM ASSETS
Property, Plant & Equipment $160.0K $4.000K
YoY Change 1130.77% -98.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $43.00K $12.00K
YoY Change 258.33% -33.33%
Total Long-Term Assets $1.141M $24.00K
YoY Change 290.75% -92.68%
TOTAL ASSETS
Total Short-Term Assets $412.9M $33.82M
Total Long-Term Assets $1.141M $24.00K
Total Assets $414.1M $33.84M
YoY Change 956.78% -17.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $571.0K
YoY Change 136.93%
Accrued Expenses $700.0K
YoY Change -48.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.04M $1.271M
YoY Change 1718.45% -20.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.04M $1.271M
Total Long-Term Liabilities $0.00
Total Liabilities $18.88M $1.271M
YoY Change 1452.71% -31.11%
SHAREHOLDERS EQUITY
Retained Earnings -$57.94M -$193.4M
YoY Change -69.12% 3.87%
Common Stock $35.00K $226.0M
YoY Change -99.98% 0.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $342.4M $32.57M
YoY Change
Total Liabilities & Shareholders Equity $414.1M $33.84M
YoY Change 956.78% -17.62%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$28.60M -$2.678M
YoY Change 1908.43% 80.95%
Depreciation, Depletion And Amortization $3.000K
YoY Change -25.0%
Cash From Operating Activities -$2.634M
YoY Change 279.54%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.00K
YoY Change
NET CHANGE
Cash From Operating Activities -2.634M
Cash From Investing Activities 0.000
Cash From Financing Activities 14.00K
Net Change In Cash -2.620M
YoY Change 277.52%
FREE CASH FLOW
Cash From Operating Activities -$2.634M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company has </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> off-balance-sheet concentrations of credit risk, such as foreign exchange contracts, option contracts, or foreign currency hedging arrangements. The Company maintains cash and cash equivalent balances in the form of bank demand deposits and money market fund accounts with financial institutions that management believes are creditworthy. Such balances may at times exceed the insured amount.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
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3000
CY2021Q2 abio Lessee Operating Sublease Term Of Contract
LesseeOperatingSubleaseTermOfContract
P29M
us-gaap Lessee Operating Lease Assumptions And Judgments Allocation Of Lease And Nonlease Component
LesseeOperatingLeaseAssumptionsAndJudgmentsAllocationOfLeaseAndNonleaseComponent
The leases include real estate taxes and insurance, which is not a lease component and is not included in the lease obligation. In addition, common area maintenance charges are based on actual costs incurred and are a non-lease component that is not included in the lease obligation.
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
25000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
25000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1000
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
24000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
24000
us-gaap Operating Lease Payments
OperatingLeasePayments
47000
us-gaap Operating Lease Payments
OperatingLeasePayments
67000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y3M18D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
112000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
187000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
226000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
391000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
616707
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.76
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
42000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.64
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
6000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.32
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
45652
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
10.05
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
607055
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.17
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
506540
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.44
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y10M24D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
607039
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.17
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y
CY2024Q2 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2024Q2 abio Threshold Amount Of Declared Cash Dividend
ThresholdAmountOfDeclaredCashDividend
5000000
CY2024Q2 abio Threshold Amount Of Declared Cash Dividend
ThresholdAmountOfDeclaredCashDividend
5000000
CY2024Q2 abio Threshold Amount After Cash Dividend Declared
ThresholdAmountAfterCashDividendDeclared
20000000
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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