ARCA biopharma reports Q3 2023 net loss of $1.4M; cash $38.5M sufficient through end of 2024

Oruka Therapeutics, Inc.

2023-Q3 EPS reported -$0.29

Net loss of $1.4M ($0.10/share) vs $2.3M ($0.16/share) in Q3 2022; operating expenses down to $2.0M from $2.6M.
Cash and equivalents $38.5M at Sep 30, 2023 (down from $42.4M at Dec 31, 2022); funding runway through end of 2024.
R&D expenses fell to $0.3M from $1.0M YoY due to prior 67% workforce reduction (12 employees) in July 2022.
Strategic review process with Ladenburg Thalmann continues; no defined timeline and may not result in a 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 0.95

Oruka Therapeutics, Inc. reported quarter ended September 30, 2023 results: net income $1.4 million, EPS $0.10 per basic and diluted share.

Period: quarter ended September 30, 2023
Net income: $1.4 million
EPS: $0.10 per basic and diluted share
Result: reported results

Exact text from the filing

Net loss for the quarter ended September 30, 2023 was $1.4 million, or $0.10 per basic and diluted share, compared to $2.3 million, or $0.16 per basic and diluted share in the third quarter of 2022.

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Source: SEC EDGAR

accession 0000950170-23-053987

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