ARCA biopharma Q3 net loss narrows to $2.3M; strategic review with workforce reduction

Oruka Therapeutics, Inc.

2022-Q3 EPS reported -$0.61

Net loss of $2.3M ($0.16/sh) narrowed from $4.7M ($0.33/sh) in Q3 2021.
Cash $43.9M as of Sep 30, 2022; sufficient to fund operations through end of 2023.
Workforce reduction with ~$0.8M restructuring charges recorded in Q3 2022.
Strategic review with Ladenburg Thalmann; evaluating acquisition, merger, or other options.
R&D expenses fell to $1.0M from $3.4M due to completion of rNAPc2 Phase 2b trial enrollment.

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 financial results for the quarter ended September 30, 2022.

Period: the quarter ended September 30, 2022
Result: reported results

Exact text from the filing

Net loss for the quarter ended September 30, 2022 was $2.3 million, or $0.16 per basic and diluted share, compared to $4.7 million, or $0.33 per basic and diluted share in the third quarter of 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Oruka Therapeutics, Inc. reported financial results for the quarter ended September 30, 2022.

Period: the quarter ended September 30, 2022
Result: reported results

Exact text from the filing

On October 28, 2022, ARCA biopharma, Inc., or ARCA, issued a press release reporting financial results for the quarter ended September 30, 2022.

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Oruka Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001564590-22-035701

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