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SEC Filings

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

  · the costs of commercialization activities for vonapanitase in radiocephalic fistulas and other indications if we receive marketing approval, including the costs and timing of establishing product sales, marketing, distribution and manufacturing capabilities;
  · subject to receipt of marketing approval, revenue received from commercial sales of vonapanitase;
  · the terms and timing of any future collaborations, licensing, consulting or other arrangements that we may establish;
  · the amount and timing of any payments we may be required to make, or that we may receive, in connection with the licensing, filing, prosecution, defense and enforcement of any patents or other intellectual property rights, including royalty payments that we are obligated to pay to Johns Hopkins University pursuant to our assignment agreement related to vonapanitase;
  · the costs of preparing, filing and prosecuting patent applications, maintaining and protecting our intellectual property rights and defending against intellectual property related claims; and
  · the extent to which we in-license or acquire other products and technologies.

 

Cash Flows

 

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

 

   Nine Months Ended September 30,
   2017  2016
       
Net cash used in operating activities  $(16,654)  $(18,108)
Net cash (used in) provided by investing activities   (22,546)   4,588 
Net cash provided by financing activities   22,990    161 
Effect of exchange rate changes on cash   (196)   6 
Net decrease in cash and cash equivalents  $(16,406)  $(13,353)

 

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

 

Net cash used in operating activities was $16.7 million for the nine months ended September 30, 2017 compared to $18.1 million for the nine months ended September 30, 2016. The decrease of $1.4 million was primarily driven by an approximate $4.1 million decrease in cash outflows related to changes in the components of working capital, offset by an increase in our net loss of $2.9 million and an increase in non-cash operating expenses of $0.2 million as compared to the nine months ended September 30, 2016.

 

 Net cash used in investing activities was $22.5 million for the nine months ended September 30, 2017 compared to $4.6 million provided by investing activities in the nine months ended September 30, 2016. The change of $27.1 million was primarily driven by a decrease in maturities and sale of investments of $35.7 million and a decrease in capital expenditures of $0.2 million, offset by a decrease in the purchases of available-for-sale investments of $8.3 million as compared to the nine months ended September 30, 2016.

 

Net cash provided by financing activities for the nine months ended September 30, 2017 increased by $22.9 million compared to the nine months ended September 30, 2016 primarily due to net proceeds of $21.5 million from our preferred equity financing in August 2017 and $1.3 million from the sale of common stock under our ATM program.

 

Off-Balance Sheet Arrangements

 

We did not have during the periods presented, and we do not currently have, any off-balance sheet arrangements, as defined under the applicable regulations of the SEC.

 

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