2024 Q4 Form 10-Q Financial Statement

#000121390024097443 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $25.69M
YoY Change 7878.57%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $29.45M
YoY Change 1420.34%
Operating Profit -$29.45M
YoY Change 1420.34%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $13.40M
YoY Change
Pretax Income
YoY Change
Income Tax $0.00
% Of Pretax Income
Net Earnings -$28.60M
YoY Change 1908.43%
Net Earnings / Revenue
Basic Earnings Per Share -$1.46
Diluted Earnings Per Share -$1.46
COMMON SHARES
Basic Shares Outstanding 35.00M shares 14.51M
Diluted Shares Outstanding 15.01M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $410.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $412.9M
YoY Change 961.78%
LONG-TERM ASSETS
Property, Plant & Equipment $160.0K
YoY Change 1130.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $43.00K
YoY Change 258.33%
Total Long-Term Assets $1.141M
YoY Change 290.75%
TOTAL ASSETS
Total Short-Term Assets $412.9M
Total Long-Term Assets $1.141M
Total Assets $414.1M
YoY Change 956.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.04M
YoY Change 1718.45%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $18.04M
Total Long-Term Liabilities
Total Liabilities $18.88M
YoY Change 1452.71%
SHAREHOLDERS EQUITY
Retained Earnings -$57.94M
YoY Change -69.12%
Common Stock $35.00K
YoY Change -99.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $342.4M
YoY Change
Total Liabilities & Shareholders Equity $414.1M
YoY Change 956.78%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$28.60M
YoY Change 1908.43%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
000-22873
dei Entity Registrant Name
EntityRegistrantName
Oruka Therapeutics, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
36-3855489
dei Entity Address Address Line1
EntityAddressAddressLine1
855 Oak Grove Avenue
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 100
dei Entity Address City Or Town
EntityAddressCityOrTown
Menlo Park
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94025
dei City Area Code
CityAreaCode
(650)
dei Local Phone Number
LocalPhoneNumber
606-7910
dei Security12b Title
Security12bTitle
Common stock, par value $0.001 per share
dei Trading Symbol
TradingSymbol
ORKA
dei Security Exchange Name
SecurityExchangeName
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EntityCurrentReportingStatus
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dei Entity Interactive Data Current
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dei Entity Filer Category
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b><i>Use of Estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in">The preparation of the Company’s condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, assumptions, and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of income and expenses during the reporting periods. Significant estimates and assumptions reflected within these condensed consolidated financial statements include but are not limited to research and development expenses and related prepaid or accrued costs and the valuation of stock-based compensation awards and related expenses. The Company bases its estimates on known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts, and experience. Actual results could differ materially from those estimates or assumptions.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b><i>Concentrations of Credit Risk and Other Risks and Uncertainties</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif">The Company’s cash and cash equivalents are maintained with financial institutions in the United States of America. Cash balances are held at financial institutions and account balances may exceed federally insured limits. To date, the Company has not experienced any losses on its cash and cash equivalents and periodically evaluates the creditworthiness of its financial institutions.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in">The Company manages credit risk associated with its investment portfolio through its investment policy, which limits investments to high-quality issuers and limits the amount of its portfolio that can be invested in a single issuer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Company is dependent on third-party organizations to research, develop, manufacture, and process its product candidates for its development programs, including its two most advanced programs, ORKA-001 and ORKA-002. The Company expects to continue to be dependent on a small number of manufacturers to supply it with its requirements for all products. The Company’s research and development programs could be adversely affected by a significant interruption in the supply of the necessary materials. A significant amount of the Company’s research and development activities are performed under its agreements with Paragon Therapeutics, Inc. (“Paragon”) (see Note 10).</p>
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orka Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term3
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orka Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term Expected To Vest
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P9Y9M18D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
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CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y1M6D
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P6Y1M6D
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.042 pure
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
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CY2024Q3 orka Paruka Warrant Obligation
ParukaWarrantObligation
7251000 usd
orka Paruka Warrant Obligation
ParukaWarrantObligation
7681000 usd
CY2024Q3 orka Employee Warrants
EmployeeWarrants
1314000 usd
orka Employee Warrants
EmployeeWarrants
1314000 usd
CY2024Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2024Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
9000 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
9000 usd
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
9001000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
9769000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Payments For Fees
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800000 usd
orka Development Costs Percentage
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0.50 pure
CY2023Q4 orka Other Development Cost
OtherDevelopmentCost
3300000 usd
CY2024Q3 us-gaap Other Notes Payable
OtherNotesPayable
800000 usd
CY2024Q3 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
3800000 usd
us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
6600000 usd
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3800000 usd
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OtherExpenses
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us-gaap Other Expenses
OtherExpenses
33800000 usd
CY2024Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P39M15D
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OperatingLeaseLiabilityCurrent
100000 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
800000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P36M
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LesseeOperatingLeaseDiscountRate
0.1795 pure
CY2024Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
100000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
200000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
74000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
63000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
369000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
494000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
380000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1306000 usd
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LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
318000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
988000 usd
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OperatingLeaseLiabilityCurrent
146000 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
842000 usd
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6549671 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6549671 shares
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2024Q3 orka Subscription Receivables
SubscriptionReceivables
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CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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CY2024Q1 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
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CY2024Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
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CY2024Q1 us-gaap Operating Lease Liability Current
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CY2024Q1 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2024Q1 us-gaap Liabilities
Liabilities
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CY2024Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2024Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2024Q1 us-gaap Common Stock Value
CommonStockValue
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CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2024Q1 orka Adjustment For Change In Common Stock Par Value In Connection With The Reverse Merger
AdjustmentForChangeInCommonStockParValueInConnectionWithTheReverseMerger
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CY2024Q1 us-gaap Stock Issued During Period Value Other
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
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shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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orka Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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orka Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Exercisable Period Weighted Average Grant Date Fair Value
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0001213900-24-097443.txt Edgar Link pending
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