ARCA biopharma reports FY2022 net loss of $9.9M; cash $42.4M; strategic review ongoing

Oruka Therapeutics, Inc.

2022-FY EPS reported -$0.69

Net loss $9.9M ($0.69/share) vs $19.3M ($1.39/share) in 2021; operating expenses down to $10.6M from $19.3M.
Cash and equivalents $42.4M at year-end; expected to fund operations through mid-2024.
R&D expenses fell to $4.7M from $13.8M due to completion of rNAPc2 Phase 2b trial; restructuring charges of $0.8M in Q3 2022.
Company engaged Ladenburg Thalmann to explore strategic alternatives including M&A; no timetable set.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Oruka Therapeutics, Inc. reported the year ended December 31, 2022 results: net income $9.9 million, EPS $0.69 per basic and diluted share.

Period: the year ended December 31, 2022
Net income: $9.9 million
EPS: $0.69 per basic and diluted share
Result: reported results

Exact text from the filing

Net loss for the year ended December 31, 2022 was $9.9 million, or $0.69 per basic and diluted share, compared to $19.3 million, or $1.39 per basic and diluted share in 2021.

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Oruka Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-004387

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