ARCA biopharma Q1 net loss narrows to $3.3M; initiates strategic review

Oruka Therapeutics, Inc.

2023-Q1 EPS reported -$0.23

Net loss of $3.3M ($0.23/share) vs $4.1M ($0.33/share) in Q1 2021, narrowing on lower R&D spend.
Cash $49.1M as of March 31, 2022, expected to fund operations through mid-2023.
R&D expenses fell to $2.2M from $2.9M due to completion of rNAPc2 Phase 2b enrollment in Q4 2021.
Board established Special Committee in April to evaluate strategic options including partnering or other alternatives.
No revenue reported; clinical-stage biotech focused on genetically targeted cardiovascular therapies.

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