Oruka Therapeutics Inc

NASDAQ:ORKAUnited States

Nov 13, 2024

Show headlines and story abstract

• Press Release: Oruka Therapeutics Reports Third Quarter 2024 Financial Results and Provides Corporate Update, from 4:25PM ET on Wednesday Nov 13, 2024 by Dow Jones

  4:25PM ET on Wednesday Nov 13, 2024 by Dow Jones
  Companies Mentioned: ORKA

• Oruka Therapeutics Reports Third Quarter 2024 Financial Results and Provides Corporate Update, from 4:25PM ET on Wednesday Nov 13, 2024 by Dow Jones

  4:25PM ET on Wednesday Nov 13, 2024 by Dow Jones
  Companies Mentioned: ORKA
  
  alan.lada@orukatx.com
  ORUKA THERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) September 30, February 6, Assets 2024 2024 --------------- ------------- Current assets: Cash and cash equivalents $ 410,875 $ -- Subscription receivables -- 1 Prepaid expenses and other current assets 2,074 ---------- ------------- Total current assets 412,949 1 Property and equipment, net 160 -- Operating lease right-of-use assets 938 -- Other non-current assets 43 -- Total assets $ 414,090 $ 1 ========== ==== ======= Liabilities, Convertible Preferred Stock and Stockholders' Equity Current liabilities: Accounts payable $ 2,145 $ -- Accrued expenses and other current liabilities 1,710 -- Operating lease liability, current 146 -- Related party common stock warrant liability 7,681 -- Related party accounts payable and current liabilities 6,357 -- ---------- ---- ------- Total current liabilities 18,039 -- Operating lease liability, non-current 842 -- ---- ------- Total liabilities 18,881 -- ---------- ---- ------- Commitments and contingencies Preferred stock 52,841 -- Stockholders' equity: Preferred stock 2,931 -- Common stock 35 -- Additional paid-in capital 397,345 1 Accumulated deficit (57,943) -- ---------- ---- ------- Total stockholders' equity 342,368 1 Total liabilities, convertible preferred stock and stockholders' equity $ 414,090 $ 1 ========== ==== ======= ORUKA THERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands, except share and per share data) (unaudited) Period from February 6, 2024 Three Months Ended (Inception) to September 30, 2024 September 30, 2024 --------------------- ----------------------- Operating expenses Research and development(1) $ 25,691 $ 49,557 General and administrative(1) 3,758 8,248 Total operating expenses 29,449 57,805 ---------------- ---------------- Loss from operations (29,449) (57,805) Other income (expense) Interest income 1,330 1,330 Interest expense (504) (1,468) ---------------- ---------------- Total other income (expense), net 826 (138) ---------------- ---------------- Net loss and comprehensive loss $ (28,623) $ (57,943) ================ ================ Net loss per share attributable to common stockholders, basic and diluted $ 1.46 $ 6.08 ================ ================ Net loss per share attributable to Series A non-voting convertible preferred Stockholders, basic and diluted $ 1,461.10 $ 6,077.25 ================ ================ Net loss per share attributable to Series B non-voting convertible preferred Stockholders, basic and diluted $ 121.76 $ 506.44 ================ ================ Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 15,013,655 7,765,381 ================ ================ Weighted-average shares used in computing net loss per share attributable to Series A non-voting convertible preferred stockholders, basic and diluted 477 184 ================ ================ Weighted-average shares used in computing net loss per share attributable to Series B non-voting convertible preferred stockholders, basic and diluted 49,191 19,015 ================ ================ (1) Amounts include non-cash stock based compensation expense as follows (in thousands): Period from February 6, 2024 Three Months Ended (Inception) to September 30, 2024 September 30, 2024 --------------------- ----------------------- Research and development $ 7,772 $ 8,310 General and administrative 1,229 1,459 Total $ 9,001 $ 9,769 ================ ================