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SEC Filings

10-Q
PROTEON THERAPEUTICS INC filed this Form 10-Q on 11/07/2017
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Research and Development Expenses. The following table identifies research and development expenses on both an external and internal basis for the three months ended September 30, 2017 and 2016 (in thousands):

 

   Three Months Ended September 30,   
   2017  2016  Period-to-Period Change
          
External vonapanitase research and development expenses  $9,264   $3,690   $5,574 
Internal research and development expenses   1,072    1,152    (80)
Total research and development expenses  $10,336   $4,842   $5,494 

 

During the three months ended September 30, 2017, our total research and development expenses increased by $5.5 million primarily due to an increase of $6.0 million in our manufacturing pre-validation and validation efforts offset by a decrease of $0.4 million in clinical expenses related to our ongoing radiocephalic AVF Phase 3 and our PAD clinical trials in the three months ended September 30, 2017 as compared to the three months ended September 30, 2016 and a decrease of $0.1 million in our internal research and development expenses in the three months ended September 30, 2017 as compared to the three months ended September 30, 2017.

 

General and Administrative Expenses. During the three months ended September 30, 2017, our total general and administrative expenses were $0.4 million lower as compared to the three months ended September 30, 2016 primarily due to decreased overhead and personnel expenses of $0.3 million and decreased expenses associated with being a public company of $0.1 million.

 

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

 

Other Income (Expense), Net. During the three months ended September 30, 2017, other (expense) income, net changed by $0.1 million primarily due to foreign currency remeasurement loss for cash denominated in Swiss Francs.

 

 Comparison of the Nine Months Ended September 30, 2017 and 2016

 

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

 

   Nine Months Ended September 30,   
   2017  2016  Period-to-Period Change
          
Operating expenses:               
Research and development  $18,473   $14,432   $4,041 
General and administrative   6,299    7,407    (1,108)
Total operating expenses   24,772    21,839    2,933 
Loss from operations   (24,772)   (21,839)   (2,933)
Other income:               
Investment income   161    155    6 
Other income, net   198    120    78 
Total other income   359    275    84 
Net Loss  $(24,413)  $(21,564)  $(2,849)

 

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

 

   Nine Months Ended September 30,   
   2017  2016  Period-to-Period Change
          
External vonapanitase research and development expenses  $14,859   $10,559   $4,300 
Internal research and development expenses   3,614    3,873    (259)
Total research and development expenses  $18,473   $14,432   $4,041 

 

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