$ORKA
Oruka Therapeutics, Inc.

2015 Q3 Form 10-Q Financial Statement

#000156459015010627 Filed on November 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.100M $950.0K
YoY Change 15.79% -6.03%
% of Gross Profit
Research & Development $1.716M $1.340M
YoY Change 28.06% 87.68%
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $2.817M $2.290M
YoY Change 23.01% 32.75%
Operating Profit -$2.817M
YoY Change
Interest Expense $1.000K $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.810M -$2.280M
YoY Change 23.25% 32.33%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.814M -$2.280M
YoY Change 23.42% 32.33%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$5.620M -$13.41M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.50M $17.20M
YoY Change 141.28% -7.53%
Cash & Equivalents $41.48M $17.25M
Short-Term Investments
Other Short-Term Assets $200.0K $200.0K
YoY Change 0.0% -47.23%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $41.70M $17.50M
YoY Change 138.29% -7.95%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00
YoY Change -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $700.0K $500.0K
YoY Change 40.0% 400.0%
Total Long-Term Assets $700.0K $500.0K
YoY Change 40.0% 293.7%
TOTAL ASSETS
Total Short-Term Assets $41.70M $17.50M
Total Long-Term Assets $700.0K $500.0K
Total Assets $42.40M $18.00M
YoY Change 135.56% -5.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $600.0K $400.0K
YoY Change 50.0% -10.51%
Accrued Expenses $700.0K $500.0K
YoY Change 40.0% 66.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.300M $800.0K
YoY Change 62.5% 4.03%
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 $1.300M $800.0K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.300M $800.0K
YoY Change 62.5% 4.03%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $41.10M $17.20M
YoY Change
Total Liabilities & Shareholders Equity $42.40M $18.00M
YoY Change 135.56% -5.95%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$2.814M -$2.280M
YoY Change 23.42% 32.33%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change
Cash From Operating Activities -$2.400M -$2.080M
YoY Change 15.38% 23.81%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -200.0K -50.00K
YoY Change 300.0% 0.0%
NET CHANGE
Cash From Operating Activities -2.400M -2.080M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -200.0K -50.00K
Net Change In Cash -2.600M -2.130M
YoY Change 22.07% 22.41%
FREE CASH FLOW
Cash From Operating Activities -$2.400M -$2.080M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$2.400M -$2.080M
YoY Change 15.38% 24.55%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1555931
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
382000
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
418000
CY2015Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
543000
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
264000
CY2015Q3 us-gaap Interest Expense
InterestExpense
1000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-2814000
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9034016
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
15581000
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
7866000
CY2014 abio Issuance Of Common Stock Upon Exercise Of Warrants For Cash Value
IssuanceOfCommonStockUponExerciseOfWarrantsForCashValue
338000
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
454000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
14000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
8000
us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
133000
us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
34000
us-gaap Share Based Compensation
ShareBasedCompensation
454000
us-gaap Share Based Compensation
ShareBasedCompensation
491000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-147000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-132000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
229000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
452000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-167000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-232000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-215000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-360000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
229000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-72000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-3000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
2000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-7914000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-7527000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-9000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-5000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
37000000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
9038000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2756000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
834000
us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
193000
us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
179000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
34051000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
8025000
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
26128000
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
493000
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16756000
CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17249000
us-gaap Interest Paid
InterestPaid
4000
us-gaap Interest Paid
InterestPaid
3000
abio Common Stock Offering Costs Accrued But Not Yet Paid
CommonStockOfferingCostsAccruedButNotYetPaid
69000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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>
CY2015Q3 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
FairValueDisclosureOffbalanceSheetRisksAmountAsset
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3982273
abio Fair Value Assets Between Hierarchy Levels Transfers Amount
FairValueAssetsBetweenHierarchyLevelsTransfersAmount
0
CY2015Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
415000
CY2015Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
384000
CY2013Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
5300
us-gaap Lessee Leasing Arrangements Operating Leases Term Of Contract
LesseeLeasingArrangementsOperatingLeasesTermOfContract
P3Y
us-gaap Lease Expiration Date1
LeaseExpirationDate1
2016-09-30
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
21000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
62000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
83000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
60000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
58000
us-gaap Revenues
Revenues
0
us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.143
abio Royalty Buy Down Due Period
RoyaltyBuyDownDuePeriod
P6M

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