Proteon logo     Print Page | Close Window

SEC Filings

PROTEON THERAPEUTICS INC filed this Form 10-Q on 11/07/2017
Entire Document

8. Income Taxes


Deferred taxes are recognized for temporary differences between the basis of assets and liabilities for financial statement and income tax purposes. The Company has evaluated the positive and negative evidence bearing upon the Company’s ability to realize the benefit of its deferred tax assets. Based on the Company’s history of operating losses, the Company has concluded that it is more likely than not that the benefit of its deferred tax assets will not be realized. Due to the uncertainty surrounding the realization of the favorable tax attributes in future tax returns, the Company has provided a full valuation allowance against its deferred tax assets. There were no significant income tax provisions or benefits for the nine months ended September 30, 2017 and 2016.


9. Net Loss per Share Attributable to Common Stockholders


The Company computes basic and diluted loss per share using a methodology that gives effect to the impact of outstanding participating securities (the “two-class method”). As the three and nine months ended September 30, 2017 and 2016 resulted in net losses, there is no income allocation required under the two-class method or dilution attributed to weighted-average shares outstanding in the calculation of diluted loss per share.


The following Common Stock equivalents, presented on an as converted basis, were excluded from the calculation of net loss per share for the periods presented, due to their anti-dilutive effect:


   Three Months Ended September 30,  Nine Months Ended September 30,
   2017  2016  2017  2016
Outstanding stock options   2,683,912    2,169,617    2,683,912    2,169,617 
Outstanding ESPP shares   34,464    10,913    34,464    10,913 
    2,718,376    2,180,530    2,718,376    2,180,530 


10. Subsequent Events


The Company has evaluated all activity that occurred subsequent to quarter end but prior to issuance of the unaudited condensed consolidated financial statements for events or transactions that could require disclosure or that could impact the carrying value of assets or liabilities as of the balance sheet date.