ARCA biopharma posts 2023 net loss of $5.3M ($0.37/share); cash $37.4M

Oruka Therapeutics, Inc.

2023-FY EPS reported -$0.37

Net loss improved to $5.3M from $9.9M in 2022; basic EPS loss $0.37 vs $0.69.
Cash and equivalents $37.4M at Dec 31, 2023, down from $42.4M; runway through mid-2025.
G&A expenses rose to $6.3M (2023) from $5.8M (2022) on higher professional and strategic review fees.
R&D expenses fell to $1.0M from $4.7M due to lower clinical costs and headcount reduction.
Strategic review ongoing with no defined timeline; potential merger, asset sale, or other alternatives.

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 year ended December 31, 2023 results: net income Net loss for the year ended December 31, 2023 was $5.3 million, or $0.37 per basic and diluted share, EPS $0.37 per basic and diluted share.

Period: the year ended December 31, 2023
Net income: Net loss for the year ended December 31, 2023 was $5.3 million, or $0.37 per basic and diluted share
EPS: $0.37 per basic and diluted share
Result: reported results

Exact text from the filing

Net loss for the year ended December 31, 2023 was $5.3 million, or $0.37 per basic and diluted share, compared to $9.9 million, or $0.69 per basic and diluted share in 2022.

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Source: SEC EDGAR

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