Oruka Therapeutics, Inc. ORKA
Closing"), we completed our acquisition (the "Merger") of Oruka Therapeutics, Inc. ("Pre-Merger Oruka")
pursuant to an Agreement and Plan of Merger and Reorganization, dated as of April 3, 2024 (the "Merger Agreement"). Following
the transactions contemplated by the Merger Agreement, Pre-Merger Oruka merged with and into Atlas Merger Sub Corp., a wholly owned subsidiary
of ARCA biopharma, Inc. ("ARCA") and following that, Pre-Merger Oruka then merged with and into Atlas Merger Sub II, LLC ("Second
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| R&D | $100.6M | — | $1.0M | $4.7M | $13.8M | $5.0M | $1.8M | $4.2M | $14.1M | $12.3M |
| SG&A | $21.4M | — | $6.3M | $5.8M | $5.5M | $4.8M | $4.0M | $3.9M | $4.6M | $4.3M |
| Total operating expenses | $122.1M | — | $7.3M | $10.6M | $19.3M | $9.8M | $5.8M | $8.1M | $18.7M | $16.6M |
| Operating income | -$122.1M | — | -$7.3M | -$10.6M | -$19.3M | -$9.8M | -$5.8M | -$8.1M | -$18.7M | -$16.6M |
| Interest expense | — | — | — | — | — | $9.0K | $7.0K | $8.0K | $6.0K | — |
| Pre-tax income | -$105.4M | — | -$5.3M | -$9.9M | -$19.3M | -$9.7M | -$5.6M | -$8.0M | -$18.6M | -$16.4M |
| Income tax | — | — | $0 | $0 | $0 | $9.0K | $167.0K | $31.0K | $61.0K | $0 |
| Net income | -$105.4M | -$83.7M | -$5.3M | -$9.9M | -$19.3M | -$9.7M | -$5.5M | -$7.9M | -$18.5M | -$16.4M |
| EPS, basic | — | — | -0.37 | -0.69 | -1.39 | — | — | — | — | — |
| EPS, diluted | — | — | -0.37 | -0.69 | -1.39 | -2.07 | -4.15 | -10.31 | -1.77 | -1.81 |
| Shares, diluted (wtd. avg.) | — | — | $14.4M | $14.4M | $13.9M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $46.9M | $61.6M | $37.4M | $42.4M | $53.4M | $49.1M | $8.4M | $6.6M | $8.7M | $7.4M |
| Short-term investments | $290.1M | $314.1M | — | — | — | — | — | — | $3.0M | $13.8M |
| Total current assets | $343.9M | $376.9M | $1.0K | $42.7M | $54.4M | $50.0M | $8.5M | $6.8M | $12.3M | $21.4M |
| Property, plant and equipment | $288.0K | $162.0K | $10.0K | $25.0K | $48.0K | $21.0K | $10.0K | $24.0K | $42.0K | $66.0K |
| Total assets | $488.6M | $396.0M | $1.0K | $43.1M | $54.9M | $50.4M | $8.5M | $6.8M | $12.4M | $24.6M |
| Accounts payable | — | — | $362.0K | $334.0K | $1.1M | $1.8M | $418.0K | $230.0K | $622.0K | $1.2M |
| Total current liabilities | $15.4M | $13.0M | $637.0K | $1.1M | $3.5M | $3.5M | $926.0K | $793.0K | $2.1M | $2.4M |
| Total liabilities | $16.7M | $13.8M | $841.0K | $1.4M | $3.9M | $3.9M | $926.0K | $793.0K | $2.1M | $2.4M |
| Retained earnings | -$189.2M | -$83.7M | -$188.7M | -$183.4M | -$173.5M | -$154.2M | -$144.4M | -$138.9M | -$131.0M | -$112.5M |
| Total equity | $471.9M | $382.2M | $1.0K | $41.7M | $51.0M | $46.5M | $7.6M | $6.0M | $10.3M | $22.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$88.2M | — | -$5.0M | -$10.9M | -$18.8M | -$7.7M | -$4.8M | -$8.2M | -$17.5M | -$15.0M |
| Depreciation and amortisation | $83.0K | — | — | — | — | — | — | — | — | — |
| Stock-based compensation | $24.2M | — | $686.0K | $556.0K | $497.0K | $43.0K | $151.0K | $273.0K | $458.0K | $576.0K |
| Capital expenditure | $209.0K | — | $0 | $2.0K | $43.0K | $19.0K | $4.0K | $4.0K | $3.0K | $12.0K |
| Investing cash flow | -$96.7M | — | $0 | -$2.0K | -$43.0K | -$19.0K | -$4.0K | $3.0M | $12.9M | -$16.4M |
| Financing cash flow | $170.3M | — | $0 | $0 | $23.1M | $48.5M | $6.6M | $3.1M | $5.8M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-045159.
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