$ORKA
Oruka Therapeutics, Inc.

2022 Q4 Form 10-Q Financial Statement

#000156459022035668 Filed on October 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.487M $1.528M $1.278M
YoY Change -14.49% 19.56% 35.96%
% of Gross Profit
Research & Development $61.00K $1.024M $3.438M
YoY Change -98.45% -70.22% 227.12%
% of Gross Profit
Depreciation & Amortization $5.000K $4.000K $5.000K
YoY Change 0.0% -20.0% -50.0%
% of Gross Profit
Operating Expenses $1.548M $2.552M $4.716M
YoY Change -72.75% -45.89% 348.72%
Operating Profit -$2.552M -$4.716M
YoY Change -45.89%
Interest Expense $374.0K $222.0K $4.000K
YoY Change 9250.0% 5450.0% 100.0%
% of Operating Profit
Other Income/Expense, Net $0.00 -$3.000K
YoY Change
Pretax Income -$1.174M -$2.333M -$4.712M
YoY Change -79.32% -50.49% 136.66%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.174M -$2.333M -$4.712M
YoY Change -79.32% -50.49% 136.66%
Net Earnings / Revenue
Basic Earnings Per Share -$0.16 -$0.33
Diluted Earnings Per Share -$0.08 -$0.16 -$327.0K
COMMON SHARES
Basic Shares Outstanding 14.41M 14.41M 14.41M
Diluted Shares Outstanding 14.41M 14.41M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.45M $43.94M $58.31M
YoY Change -20.45% -24.65% 14.12%
Cash & Equivalents $42.45M $43.94M $58.31M
Short-Term Investments
Other Short-Term Assets $254.0K $611.0K $1.353M
YoY Change -76.08% -54.84% 69.13%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $42.70M $44.55M $59.67M
YoY Change -21.54% -25.33% 14.96%
LONG-TERM ASSETS
Property, Plant & Equipment $25.00K $30.00K $48.00K
YoY Change -47.92% -37.5% 380.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $18.00K $18.00K $18.00K
YoY Change 0.0% 0.0% -50.0%
Total Long-Term Assets $386.0K $415.0K $526.0K
YoY Change -23.26% -21.1% 541.46%
TOTAL ASSETS
Total Short-Term Assets $42.70M $44.55M $59.67M
Total Long-Term Assets $386.0K $415.0K $526.0K
Total Assets $43.09M $44.97M $60.19M
YoY Change -21.56% -25.3% 15.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $334.0K $593.0K $1.131M
YoY Change -70.1% -47.57% 48.62%
Accrued Expenses $798.0K $1.344M $2.051M
YoY Change -66.48% -34.47% 156.38%
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 $1.132M $1.937M $3.182M
YoY Change -67.64% -39.13% 108.38%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $280.0K $301.0K $410.0K
YoY Change -26.89% -26.59%
Total Long-Term Liabilities $280.0K $301.0K $410.0K
YoY Change -26.89% -26.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.132M $1.937M $3.182M
Total Long-Term Liabilities $280.0K $301.0K $410.0K
Total Liabilities $1.412M $2.238M $3.592M
YoY Change -63.62% -37.69% 139.47%
SHAREHOLDERS EQUITY
Retained Earnings -$183.4M -$182.2M
YoY Change 5.72%
Common Stock $225.1M $225.0M
YoY Change 0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $41.67M $42.73M $56.60M
YoY Change
Total Liabilities & Shareholders Equity $43.09M $44.97M $60.19M
YoY Change -21.56% -25.3% 15.79%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$1.174M -$2.333M -$4.712M
YoY Change -79.32% -50.49% 136.66%
Depreciation, Depletion And Amortization $5.000K $4.000K $5.000K
YoY Change 0.0% -20.0% -50.0%
Cash From Operating Activities -$1.494M -$2.498M -$4.870M
YoY Change -69.8% -48.71% 143.5%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$14.00K
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 -$14.00K
YoY Change -100.0% -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 0.000 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -1.494M -2.498M -4.870M
Cash From Investing Activities 0.000 0.000 -14.00K
Cash From Financing Activities 0.000 0.000 0.000
Net Change In Cash -1.494M -2.498M -4.884M
YoY Change -69.84% -48.85% -112.19%
FREE CASH FLOW
Cash From Operating Activities -$1.494M -$2.498M -$4.870M
Capital Expenditures $0.00 $0.00 -$14.00K
Free Cash Flow -$1.494M -$2.498M -$4.856M
YoY Change -69.76% -48.56% 142.8%

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<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>
CY2022Q3 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
FairValueDisclosureOffbalanceSheetRisksAmountAsset
0
CY2022Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.67
CY2022Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
12
CY2020Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
5200
CY2020Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P42M
CY2020Q3 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
option to renew for an additional 36 month term at the then prevailing rental rate.
CY2020Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P36M
CY2021Q2 abio Area Of Real Estate Property Sublease Additional Office Facilities
AreaOfRealEstatePropertySubleaseAdditionalOfficeFacilities
3000
CY2021Q2 abio Lessee Operating Sublease Term Of Contract
LesseeOperatingSubleaseTermOfContract
P29M
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
729232
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
774024
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
0
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
0
abio Fair Value Assets Between Hierarchy Levels Transfers Amount
FairValueAssetsBetweenHierarchyLevelsTransfersAmount
0
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
231000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
243000
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
201000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
195000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
30000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
48000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
15000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
11000
us-gaap Lessee Operating Lease Assumptions And Judgments Allocation Of Lease And Nonlease Component
LesseeOperatingLeaseAssumptionsAndJudgmentsAllocationOfLeaseAndNonleaseComponent
The leases include 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.
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
33000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
127000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
93000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
96000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
100000
CY2022Q3 abio Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
25000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
474000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
65000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
108000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
301000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
409000
us-gaap Operating Lease Payments
OperatingLeasePayments
98000
us-gaap Operating Lease Payments
OperatingLeasePayments
52000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M6D
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
97000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
104000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
436000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
378000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
904123
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.59
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
12000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.27
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
186891
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
3.31
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
729232
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.12
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
335467
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.34
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
729037
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.12
CY2022Q3 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0

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