$ORKA
Oruka Therapeutics, Inc.

2020 Q1 Form 10-Q Financial Statement

#000156459020021946 Filed on May 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $980.0K $1.120M
YoY Change -12.5% 6.67%
% of Gross Profit
Research & Development $370.0K $660.0K
YoY Change -43.94% -61.63%
% of Gross Profit
Depreciation & Amortization $0.00 $10.00K
YoY Change -100.0% 0.0%
% of Gross Profit
Operating Expenses $1.340M $1.781M
YoY Change -24.76% -35.77%
Operating Profit -$1.781M
YoY Change -35.77%
Interest Expense $20.00K $3.000K
YoY Change 566.67% 0.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.320M -$1.746M
YoY Change -24.4% -36.16%
Income Tax $0.00 -$82.00K
% Of Pretax Income
Net Earnings -$1.320M -$1.664M
YoY Change -20.67% -39.16%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$830.2K -$1.844M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.700M $8.000M
YoY Change -16.25% -33.88%
Cash & Equivalents $6.674M $8.006M
Short-Term Investments
Other Short-Term Assets $700.0K $500.0K
YoY Change 40.0% -16.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $7.400M $8.500M
YoY Change -12.94% -33.07%
LONG-TERM ASSETS
Property, Plant & Equipment $100.0K $100.0K
YoY Change 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change
Total Long-Term Assets $100.0K $100.0K
YoY Change 0.0% 0.0%
TOTAL ASSETS
Total Short-Term Assets $7.400M $8.500M
Total Long-Term Assets $100.0K $100.0K
Total Assets $7.500M $8.600M
YoY Change -12.79% -32.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0K $300.0K
YoY Change -33.33% -62.5%
Accrued Expenses $1.000M $1.000M
YoY Change 0.0% 11.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.200M $1.300M
YoY Change -7.69% -23.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.200M $1.300M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.200M $1.300M
YoY Change -7.69% -23.53%
SHAREHOLDERS EQUITY
Retained Earnings -$145.7M
YoY Change
Common Stock $152.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.306M $7.318M
YoY Change
Total Liabilities & Shareholders Equity $7.461M $8.600M
YoY Change -13.24% -32.81%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$1.320M -$1.664M
YoY Change -20.67% -39.16%
Depreciation, Depletion And Amortization $0.00 $10.00K
YoY Change -100.0% 0.0%
Cash From Operating Activities -$1.686M -$1.566M
YoY Change 7.66% -49.01%
INVESTING ACTIVITIES
Capital Expenditures $3.000K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$3.000K $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 0.000 2.964M
YoY Change -100.0% -13.33%
NET CHANGE
Cash From Operating Activities -1.686M -1.566M
Cash From Investing Activities -3.000K 0.000
Cash From Financing Activities 0.000 2.964M
Net Change In Cash -1.689M 1.398M
YoY Change -220.82% -6454.55%
FREE CASH FLOW
Cash From Operating Activities -$1.686M -$1.566M
Capital Expenditures $3.000K $0.00
Free Cash Flow -$1.689M -$1.566M
YoY Change 7.85% -49.02%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-145736000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
6306000
CY2020Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7461000
CY2020Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q1 us-gaap Common Stock Value
CommonStockValue
2000
CY2019Q4 us-gaap Common Stock Value
CommonStockValue
2000
CY2020Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
152040000
CY2019Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
152024000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-144416000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
7610000
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
8536000
CY2019Q1 us-gaap Interest Expense
InterestExpense
3000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1320000
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1746000
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-82000
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
895970
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
6032000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
7318000
CY2019Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3262000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
-1226000
CY2019Q4 us-gaap Stockholders Equity Other
StockholdersEquityOther
10000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8363000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6608000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6674000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8006000
CY2020Q1 abio Vendor Finance Agreement
VendorFinanceAgreement
408000
CY2019Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5000
CY2020Q1 abio Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
22000
CY2019Q1 abio Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
16000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
50000
CY2019Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-5000
CY2019Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2000
CY2019Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
56000
CY2019Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-32000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1566000
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2964000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1689000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1398000
CY2019Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
82000
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
49000
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
60000
CY2020Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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>
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
25000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
246
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
30890
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
30526
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
30890
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
84.50
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y21D
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
23000
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6M
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.075
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
50000000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
25000000
CY2020Q1 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
us-gaap:OtherAccruedLiabilitiesCurrent
CY2020Q1 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
FairValueDisclosureOffbalanceSheetRisksAmountAsset
0
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
164291
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
169143
CY2020Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
0
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
0
CY2020Q1 abio Fair Value Assets Between Hierarchy Levels Transfers Amount
FairValueAssetsBetweenHierarchyLevelsTransfersAmount
0
CY2020Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
380000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
377000
CY2020Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
370000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
367000
CY2013Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
5300
CY2020Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P6M
CY2020Q1 abio Lease Renewal Start Date
LeaseRenewalStartDate
2020-04-01
CY2020Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2020-09-30
CY2020Q1 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
Under the February 2020 Amendment, the Company has no further rights to extend or renew this lease agreement.
CY2020Q1 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
false
CY2020Q1 us-gaap Lessee Operating Lease Assumptions And Judgments Allocation Of Lease And Nonlease Component
LesseeOperatingLeaseAssumptionsAndJudgmentsAllocationOfLeaseAndNonleaseComponent
The lease includes real estate taxes and insurance, which is not a lease component and is not included in the lease obligation. In addition, common area maintenance charges are based on actual costs incurred and are a non-lease component that is not included in the lease obligation.
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
51000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
51000
CY2019Q4 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
us-gaap:OtherAccruedLiabilitiesCurrent
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
50000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
31136
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
591.88
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
80.46
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
81.38
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
80.46
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y3M3D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y18D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y21D
CY2020Q1 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0

Files In Submission

Name View Source Status
0001564590-20-021946-index-headers.html Edgar Link pending
0001564590-20-021946-index.html Edgar Link pending
0001564590-20-021946.txt Edgar Link pending
0001564590-20-021946-xbrl.zip Edgar Link pending
abio-10q_20200331.htm Edgar Link pending
abio-20200331.xml Edgar Link completed
abio-20200331.xsd Edgar Link pending
abio-20200331_cal.xml Edgar Link unprocessable
abio-20200331_def.xml Edgar Link unprocessable
abio-20200331_lab.xml Edgar Link unprocessable
abio-20200331_pre.xml Edgar Link unprocessable
abio-ex311_9.htm Edgar Link pending
abio-ex312_7.htm Edgar Link pending
abio-ex321_8.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
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