$ORKA
Oruka Therapeutics, Inc.

2016 Q2 Form 10-Q Financial Statement

#000156459016023718 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.030M $970.0K
YoY Change 6.19% -3.58%
% of Gross Profit
Research & Development $2.910M $1.750M
YoY Change 66.29% 25.0%
% of Gross Profit
Depreciation & Amortization $0.00 $10.00K
YoY Change -100.0% 0.0%
% of Gross Profit
Operating Expenses $3.940M $2.720M
YoY Change 44.85% 13.05%
Operating Profit
YoY Change
Interest Expense $50.00K $2.000K
YoY Change 2400.0% 100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$3.890M -$2.720M
YoY Change 43.01% 13.1%
Income Tax
% Of Pretax Income
Net Earnings -$3.890M -$2.720M
YoY Change 43.01% 13.1%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$7.780M -$12.36M
COMMON SHARES
Basic Shares Outstanding 9.066M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.40M $44.10M
YoY Change -40.14% 127.32%
Cash & Equivalents $14.40M $44.10M
Short-Term Investments $12.00M
Other Short-Term Assets $400.0K $200.0K
YoY Change 100.0% -33.33%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $26.70M $44.30M
YoY Change -39.73% 124.87%
LONG-TERM ASSETS
Property, Plant & Equipment $100.0K $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.000M
YoY Change
Other Assets $800.0K $800.0K
YoY Change 0.0% 0.0%
Total Long-Term Assets $5.900M $800.0K
YoY Change 637.5% 0.0%
TOTAL ASSETS
Total Short-Term Assets $26.70M $44.30M
Total Long-Term Assets $5.900M $800.0K
Total Assets $32.60M $45.10M
YoY Change -27.72% 120.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $800.0K $700.0K
YoY Change 14.29% 0.0%
Accrued Expenses $900.0K $600.0K
YoY Change 50.0% 20.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.700M $1.400M
YoY Change 21.43% 15.04%
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 $1.700M $1.400M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.700M $1.400M
YoY Change 21.43% 16.67%
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 $30.90M $43.80M
YoY Change
Total Liabilities & Shareholders Equity $32.60M $45.10M
YoY Change -27.72% 119.57%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$3.890M -$2.720M
YoY Change 43.01% 13.1%
Depreciation, Depletion And Amortization $0.00 $10.00K
YoY Change -100.0% 0.0%
Cash From Operating Activities -$3.530M -$2.400M
YoY Change 47.08% 36.36%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$10.00K
YoY Change -100.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$11.81M
YoY Change
Cash From Investing Activities -$11.81M -$10.00K
YoY Change 118000.0% 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 0.000 34.31M
YoY Change -100.0% -68720.0%
NET CHANGE
Cash From Operating Activities -3.530M -2.400M
Cash From Investing Activities -11.81M -10.00K
Cash From Financing Activities 0.000 34.31M
Net Change In Cash -15.34M 31.90M
YoY Change -148.09% -1852.75%
FREE CASH FLOW
Cash From Operating Activities -$3.530M -$2.400M
Capital Expenditures $0.00 -$10.00K
Free Cash Flow -$3.530M -$2.390M
YoY Change 47.7% 36.57%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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>
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0
us-gaap Revenues
Revenues
0
CY2016Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
100000
CY2016Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
837000
CY2016Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
13000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
450000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-7409000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
17462000
abio Fair Value Assets Between Hierarchy Levels Transfers Amount
FairValueAssetsBetweenHierarchyLevelsTransfersAmount
0
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
40000
abio Royalty Buy Down Due Period
RoyaltyBuyDownDuePeriod
P6M
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
37000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
9000
us-gaap Share Based Compensation
ShareBasedCompensation
338000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
263000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
-11445000
CY2015Q2 us-gaap Interest Expense
InterestExpense
2000
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.43
CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
599000
CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9066348
CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
9066348
CY2016Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
7000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3887000
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9065922
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
34175000
CY2015 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
11000
us-gaap Adjustment For Amortization
AdjustmentForAmortization
117000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-38000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
303000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
391000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-569000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
375000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-17014000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2611000
us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
138000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
34251000
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-24423000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15354000
us-gaap Interest Paid
InterestPaid
3000
abio Vendor Finance Agreement
VendorFinanceAgreement
55000
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1028000
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-7 reverse stock split
us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.143
CY2016Q2 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
4349644
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4001069
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
11976000
CY2016Q2 abio Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCost
4998000
CY2016Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
16974000
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
11979000
CY2016Q2 abio Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
5008000
CY2016Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
16987000
CY2016Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
31289000
CY2015Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
38728000
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
415000
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
387000
CY2013Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
5300
CY2016Q1 us-gaap Lessee Leasing Arrangements Operating Leases Renewal Term
LesseeLeasingArrangementsOperatingLeasesRenewalTerm
P38M
CY2016Q1 abio Lease Renewal Start Date
LeaseRenewalStartDate
2016-10-01
CY2016Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2019-11-30
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
28000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
83000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
88000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
83000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
282000
CY2016Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3718022
CY2016Q2 abio Weighted Average Exercise Price Of Warrants Or Rights
WeightedAverageExercisePriceOfWarrantsOrRights
9.67
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
305000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
442300
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
18713
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
584865
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
131876
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
583632
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.31
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
28.39
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.64
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
16.50
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.65
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y3M7D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y5M5D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y3M7D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
471
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
46757
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
8.36
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
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
7.95
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
4.69
CY2016Q2 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0

Files In Submission

Name View Source Status
R35.htm Edgar Link pending
0001564590-16-023718-index-headers.html Edgar Link pending
0001564590-16-023718-index.html Edgar Link pending
0001564590-16-023718.txt Edgar Link pending
0001564590-16-023718-xbrl.zip Edgar Link pending
abio-10q_20160630.htm Edgar Link pending
abio-20160630.xml Edgar Link completed
abio-20160630.xsd Edgar Link pending
abio-20160630_cal.xml Edgar Link unprocessable
abio-20160630_def.xml Edgar Link unprocessable
abio-20160630_lab.xml Edgar Link unprocessable
abio-20160630_pre.xml Edgar Link unprocessable
abio-ex311_8.htm Edgar Link pending
abio-ex312_6.htm Edgar Link pending
abio-ex321_7.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending