ARCA biopharma Q2 net loss widens to $2.7M, cash $33.3M; merger with Oruka ongoing

Oruka Therapeutics, Inc.

2024-Q2 EPS reported -$0.32

Net loss $2.7M ($0.18/sh) vs $1.5M ($0.10) in Q2 2023, driven by $1.3M increase in G&A expenses.
Cash $33.3M as of June 30, 2024, down from $37.4M at Dec 31, 2023; expects to fund ops through end of 2025.
G&A expenses rose to $3.0M from $1.7M due to $0.9M merger-related professional fees and $0.4M CEO termination benefits (Dr. Bristow resigned April 3, 2024).
Merger with Oruka Therapeutics remains pending; if not completed, company may pursue dissolution/liquidation.
R&D expenses fell to $0.1M from $0.3M due to reduced headcount and end of grants.

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