ARCA biopharma Q2 net loss narrows to $3.1M; strategic review ongoing

Oruka Therapeutics, Inc.

2022-Q2 EPS reported -$0.45

Net loss $3.1M ($0.22/sh) vs $4.8M ($0.34/sh) year ago.
Cash and equivalents $46.4M as of June 30, 2022, sufficient through end of 2023.
R&D expenses fell to $1.5M from $3.6M due to completion of rNAPc2 trial enrollment.
Strategic review with advisor Ladenburg Thalmann; exploring acquisition, merger, or other options.
G&A expenses $1.7M, up $0.5M on higher professional fees and consulting costs.

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