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10-Q
PROTEON THERAPEUTICS INC filed this Form 10-Q on 08/07/2017
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 Comparison of the Six Months Ended June 30, 2017 and 2016

 

The following table summarizes our results of operations for the six months ended June 30, 2017 and 2016 (in thousands):

 

   Six Months Ended June 30,   
   2017  2016  Period-to-Period Change
          
Operating expenses:               
Research and development  $8,137   $9,590   $(1,453)
General and administrative   4,329    5,083    (754)
Total operating expenses   12,466    14,673    (2,207)
Loss from operations   (12,466)   (14,673)   2,207 
Other income:               
Investment income   78    109    (31)
Other income, net   282    107    175 
Total other income   360    216    144 
Net Loss  $(12,106)  $(14,457)  $2,351 

 

Research and Development Expenses. The following table identifies research and development expenses on both an external and internal basis for the six months ended June 30, 2017 and 2016 (in thousands):

 

   Six Months Ended June 30,  Period-to-Period
   2017  2016  Change
          
External vonapanitase research and development expenses  $5,578   $6,868   $(1,290)
Internal research and development expenses   2,559    2,722    (163)
Total research and development expenses  $8,137   $9,590   $(1,453)

 

During the six months ended June 30, 2017, our total research and development expenses decreased by $1.5 million primarily due to a decrease of $1.3 million in our manufacturing pre-validation and validation efforts in the six months ended June 30, 2017 as compared to the six months ended June 30, 2016.

 

General and Administrative Expenses. During the six months ended June 30, 2017, our total general and administrative expenses were $0.8 million lower as compared to the six months ended June 30, 2016 primarily due to decreased overhead and personnel expenses of $0.7 million.

 

Investment Income. During the six months ended June 30, 2017, investment income decreased by an immaterial amount.

 

Other Income, Net. During the six months ended June 30, 2017, other income, net changed by $0.2 million primarily due to foreign currency remeasurement gain of $0.3 million for cash denominated in Swiss Francs and the change in the six months ended June 30, 2016 in the fair value associated with the forward foreign currency contracts we entered into in the second quarter of 2015. As of December 31, 2016, all forward foreign currency contracts had been settled and are no longer outstanding.

 

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