$ORKA
Oruka Therapeutics, Inc.

2015 Q2 Form 10-Q Financial Statement

#000156459015007020 Filed on August 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $970.0K $1.006M
YoY Change -3.58% 5.67%
% of Gross Profit
Research & Development $1.750M $1.400M
YoY Change 25.0% 469.11%
% of Gross Profit
Depreciation & Amortization $10.00K $10.00K
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $2.720M $2.406M
YoY Change 13.05% 100.83%
Operating Profit -$2.406M
YoY Change 100.83%
Interest Expense $2.000K $1.000K
YoY Change 100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.720M -$2.405M
YoY Change 13.1% 100.58%
Income Tax
% Of Pretax Income
Net Earnings -$2.720M -$2.405M
YoY Change 13.1% 100.58%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$12.36M -$14.18M
COMMON SHARES
Basic Shares Outstanding 21.01M
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.10M $19.40M
YoY Change 127.32% -4.9%
Cash & Equivalents $44.10M $19.38M
Short-Term Investments
Other Short-Term Assets $200.0K $300.0K
YoY Change -33.33% 0.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $44.30M $19.70M
YoY Change 124.87% -4.83%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $800.0K $800.0K
YoY Change 0.0% 700.0%
Total Long-Term Assets $800.0K $800.0K
YoY Change 0.0% 700.0%
TOTAL ASSETS
Total Short-Term Assets $44.30M $19.70M
Total Long-Term Assets $800.0K $800.0K
Total Assets $45.10M $20.50M
YoY Change 120.0% -1.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $700.0K $700.0K
YoY Change 0.0% 75.0%
Accrued Expenses $600.0K $500.0K
YoY Change 20.0% 25.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.400M $1.217M
YoY Change 15.04% 52.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.400M $1.217M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.400M $1.200M
YoY Change 16.67% 50.0%
SHAREHOLDERS EQUITY
Retained Earnings -$79.73M
YoY Change
Common Stock $21.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $43.80M $19.32M
YoY Change
Total Liabilities & Shareholders Equity $45.10M $20.54M
YoY Change 119.57% -1.25%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$2.720M -$2.405M
YoY Change 13.1% 100.58%
Depreciation, Depletion And Amortization $10.00K $10.00K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$2.400M -$1.760M
YoY Change 36.36% 79.59%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$10.00K
YoY Change 0.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$10.00K -$10.00K
YoY Change 0.0% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 34.31M -50.00K
YoY Change -68720.0% -100.28%
NET CHANGE
Cash From Operating Activities -2.400M -1.760M
Cash From Investing Activities -10.00K -10.00K
Cash From Financing Activities 34.31M -50.00K
Net Change In Cash 31.90M -1.820M
YoY Change -1852.75% -110.81%
FREE CASH FLOW
Cash From Operating Activities -$2.400M -$1.760M
Capital Expenditures -$10.00K -$10.00K
Free Cash Flow -$2.390M -$1.750M
YoY Change 36.57% 80.41%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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172000
us-gaap Allocated Share Based Compensation Expense
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Stock Issued During Period Value New Issues
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CY2014Q2 us-gaap Interest Expense
InterestExpense
1000
CY2015Q2 us-gaap Interest Expense
InterestExpense
2000
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Earnings Per Share Basic And Diluted
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CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2015Q2 us-gaap Class Of Warrant Or Right Outstanding
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CY2015Q2 us-gaap General And Administrative Expense
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CY2014Q2 us-gaap General And Administrative Expense
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CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
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CY2014Q2 us-gaap Costs And Expenses
CostsAndExpenses
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us-gaap Costs And Expenses
CostsAndExpenses
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us-gaap Costs And Expenses
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us-gaap Earnings Per Share Basic And Diluted
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Depreciation And Amortization
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5000
us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Other Current Assets And Liabilities Net
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us-gaap Increase Decrease In Other Current Assets And Liabilities Net
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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2621000
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Interest Paid
InterestPaid
2000
abio Common Stock Offering Costs Accrued But Not Yet Paid
CommonStockOfferingCostsAccruedButNotYetPaid
214000
abio Vendor Finance Agreement
VendorFinanceAgreement
55000
abio Vendor Finance Agreement
VendorFinanceAgreement
51000
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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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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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period 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 Forfeitures Weighted Average Grant Date Fair Value
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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. 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. </p></div>
us-gaap Revenues
Revenues
0
abio Notification For Delisting Of Shares Description
NotificationForDelistingOfSharesDescription
On February 18, 2015, the Company received notification from Nasdaq of potential delisting of its shares from the Nasdaq Capital Market because the closing bid price of its common stock had not met the minimum closing bid price of $1.00 per share during the preceding 30 days. On July 15, 2015, Nasdaq notified the Company that it had regained compliance with the applicable minimum bid price rule. Accordingly, the matter related to the notice received by the Company on February 18, 2015 was closed.
CY2015Q1 abio Closing Bid Price Of Common Stock
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us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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abio Agreement Termination Notice Period
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P90D
CY2015Q2 abio Expected Milestone Payments Upon Approval
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CY2015Q2 abio Another Expected Milestone Payments Upon Approval
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abio Minimum Percentage Of Royalty Obligation
MinimumPercentageOfRoyaltyObligation
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abio Maximum Percentage Of Royalty Obligation
MaximumPercentageOfRoyaltyObligation
0.25
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
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0.125
abio Maximum Percentage Of Range Of Royalties That Can Be Buy Down
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0.17
abio Royalty Buy Down Due Period
RoyaltyBuyDownDuePeriod
P6M
CY2015Q2 abio Weighted Average Exercise Price Of Warrants Or Rights
WeightedAverageExercisePriceOfWarrantsOrRights
1.39

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