ARCA biopharma Q2 2023 net loss $1.5M; cash $40.2M; strategic review continues

Oruka Therapeutics, Inc.

2023-Q1 EPS reported -$0.20

Net loss $1.5M ($0.10/sh) vs $3.1M ($0.22) in Q2 2022; total operating expenses $2.0M vs $3.2M.
Cash and equivalents $40.2M at June 30, 2023; expected to fund operations through end of 2024.
R&D expenses fell to $0.3M from $1.5M due to rNAPc2 trial closeout and 67% workforce reduction in July 2022.
Strategic review process ongoing with Ladenburg Thalmann; no defined timeline or guarantee of transaction.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Oruka Therapeutics, Inc. reported the quarter ended June 30, 2023 results: net income $1.5 million, EPS $0.10 per basic and diluted share.

Period: the quarter ended June 30, 2023
Net income: $1.5 million
EPS: $0.10 per basic and diluted share
Result: reported results

Exact text from the filing

Net loss for the quarter ended June 30, 2023 was $1.5 million, or $0.10 per basic and diluted share, compared to $3.1 million, or $0.22 per basic and diluted share in the second quarter of 2022.

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Source: SEC EDGAR

accession 0000950170-23-033845

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