$ORKA
Oruka Therapeutics, Inc.

2013 Q4 Form 10-Q Financial Statement

#000156459014005554 Filed on November 12, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.160M $1.011M $4.010M
YoY Change 78.46% 30.96% 24.15%
% of Gross Profit
Research & Development $1.790M $714.0K $2.930M
YoY Change 842.11% 357.69% 168.81%
% of Gross Profit
Depreciation & Amortization $10.00K $0.00 $26.00K
YoY Change 0.0% -100.0% -39.53%
% of Gross Profit
Operating Expenses $2.950M $1.725M $6.940M
YoY Change 251.19% 85.88% 60.65%
Operating Profit -$1.725M
YoY Change 85.88%
Interest Expense $0.00 $0.00 $4.000K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.950M -$1.723M -$6.939M
YoY Change 251.19% 85.87% 60.63%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.950M -$1.723M -$6.939M
YoY Change 251.19% 85.87% 60.63%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$24.58M -$19.11M -$99.14M
COMMON SHARES
Basic Shares Outstanding 15.68M 10.84M 8.632M
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2013
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.80M $18.60M $16.80M
YoY Change 479.31% 500.0% 479.31%
Cash & Equivalents $16.76M $18.63M $16.80M
Short-Term Investments
Other Short-Term Assets $200.0K $379.0K $200.0K
YoY Change 60.0% 89.5% 100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $16.90M $19.01M $16.90M
YoY Change 455.01% 476.09% 463.33%
LONG-TERM ASSETS
Property, Plant & Equipment $29.00K $27.00K $0.00
YoY Change 26.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $130.0K $100.0K $100.0K
YoY Change -9.72% -50.0% 0.0%
Total Long-Term Assets $184.0K $127.0K $200.0K
YoY Change 10.18% -36.5% 0.0%
TOTAL ASSETS
Total Short-Term Assets $16.90M $19.01M $16.90M
Total Long-Term Assets $184.0K $127.0K $200.0K
Total Assets $17.08M $19.14M $17.10M
YoY Change 431.88% 446.8% 434.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $597.0K $447.0K $600.0K
YoY Change 818.46% 347.0% 500.0%
Accrued Expenses $900.0K $300.0K $900.0K
YoY Change 350.0% 200.0% 350.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.500M $769.0K $1.500M
YoY Change 391.8% 156.33% 400.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.500M $769.0K $1.500M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.503M $769.0K $1.500M
YoY Change 392.79% 156.33% 400.0%
SHAREHOLDERS EQUITY
Retained Earnings -$74.93M -$71.99M
YoY Change 10.21%
Common Stock $16.00K $13.00K
YoY Change 433.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.58M $18.37M $15.60M
YoY Change
Total Liabilities & Shareholders Equity $17.08M $19.14M $17.10M
YoY Change 431.88% 446.8% 434.38%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013
OPERATING ACTIVITIES
Net Income -$2.950M -$1.723M -$6.939M
YoY Change 251.19% 85.87% 60.63%
Depreciation, Depletion And Amortization $10.00K $0.00 $26.00K
YoY Change 0.0% -100.0% -39.53%
Cash From Operating Activities -$1.870M -$1.680M -$5.288M
YoY Change 179.1% 115.38% 29.67%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$10.00K $32.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 -$10.00K -$32.00K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.741M
YoY Change 13.94%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -50.00K 19.16M
YoY Change -100.0% -107.35% 1715.73%
NET CHANGE
Cash From Operating Activities -1.870M -1.680M -5.288M
Cash From Investing Activities 0.000 -10.00K -32.00K
Cash From Financing Activities 0.000 -50.00K 19.16M
Net Change In Cash -1.870M -1.740M 13.84M
YoY Change 1068.75% 1640.0% -557.69%
FREE CASH FLOW
Cash From Operating Activities -$1.870M -$1.680M -$5.288M
Capital Expenditures $0.00 -$10.00K $32.00K
Free Cash Flow -$1.870M -$1.670M -$5.320M
YoY Change 179.1% 114.1% 30.46%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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ShareBasedCompensation
125000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
80000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1741000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28000
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.11
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21029138
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1421000
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Concentration Risk Credit Risk
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<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentrations of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company has no off-balance-sheet concentrations of credit risk, such as foreign exchange contracts, option contracts, or foreign currency hedging arrangements.&nbsp;&nbsp;The Company maintains cash and cash equivalent balances in the form of bank demand deposits, money market fund accounts and debt securities with financial institutions that management believes are creditworthy. Such balances may at times exceed the insured amount. </p></div>
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EmployeeRelatedLiabilitiesCurrent
459000
CY2013Q4 us-gaap Property Plant And Equipment Net
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CY2013Q4 us-gaap Other Assets Noncurrent
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CY2013Q4 us-gaap Assets
Assets
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CY2013Q4 us-gaap Accounts Payable Current
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597000
CY2013Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
446000
us-gaap Selling General And Administrative Expense
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2852000
CY2013 abio Issuance Of Common Stock Upon Exercise Of Warrants For Cash Value
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CY2013 abio Preferred Stock Issued During Period Value New Issues
PreferredStockIssuedDuringPeriodValueNewIssues
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CY2013 abio Deemed Dividend Beneficial Conversion Preferred Stock
DeemedDividendBeneficialConversionPreferredStock
2026000
CY2013 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
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CY2013 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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abio Issuance Of Common Stock Upon Exercise Of Warrants For Cash Value
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338000
us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
34000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-44000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
98000
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
16000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-3416000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-28000
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
20000000
abio Payments Of Preferred Stock Issuance Costs
PaymentsOfPreferredStockIssuanceCosts
2083000
abio Payments Of Common Stock Issuance Costs
PaymentsOfCommonStockIssuanceCosts
834000
abio Payments Of Common Stock Issuance Costs
PaymentsOfCommonStockIssuanceCosts
328000
abio Repayment Of Principal On Vendor Finance Agreement
RepaymentOfPrincipalOnVendorFinanceAgreement
174000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
19156000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
15712000
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18632000
us-gaap Interest Paid
InterestPaid
3000
abio Vendor Finance Agreement
VendorFinanceAgreement
0
abio Number Of Patients Company Plans To Enroll
NumberOfPatientsCompanyPlansToEnroll
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CY2013 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2783
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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abio Fair Value Assets Between Hierarchy Levels Transfers Amount
FairValueAssetsBetweenHierarchyLevelsTransfersAmount
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CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due Current
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CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due
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abio Agreement Termination Notice Period
AgreementTerminationNoticePeriod
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CY2014Q3 abio Expected Milestone Payments Upon Approval
ExpectedMilestonePaymentsUponApproval
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CY2014Q3 abio Another Expected Milestone Payments Upon Approval
AnotherExpectedMilestonePaymentsUponApproval
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abio Minimum Percentage Of Royalty Obligation
MinimumPercentageOfRoyaltyObligation
0.125
abio Maximum Percentage Of Royalty Obligation
MaximumPercentageOfRoyaltyObligation
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abio Percentage Of Royalty Obligated To Pay Under Its Original License Agreement
PercentageOfRoyaltyObligatedToPayUnderItsOriginalLicenseAgreement
0.05
abio Minimum Percentage Of Range Of Royalties That Can Be Buy Down
MinimumPercentageOfRangeOfRoyaltiesThatCanBeBuyDown
0.125
abio Maximum Percentage Of Range Of Royalties That Can Be Buy Down
MaximumPercentageOfRangeOfRoyaltiesThatCanBeBuyDown
0.17
abio Milestone Payment Due Period
MilestonePaymentDuePeriod
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CY2014Q3 us-gaap Class Of Warrant Or Right Outstanding
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abio Class Of Warrant Or Rights Expiration Date Earliest
ClassOfWarrantOrRightsExpirationDateEarliest
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abio Class Of Warrant Or Rights Expiration Date Latest
ClassOfWarrantOrRightsExpirationDateLatest
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CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
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CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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1.95

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