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SEC Filings

S-1/A
PROTEON THERAPEUTICS INC filed this Form S-1/A on 10/07/2014
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Table of Contents

        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, 2013 and 2014:


 
  Six Months Ended June 30,    
 
 
  Period-to-
Period Change
 
 
  2013   2014  
 
  (in thousands)
 

External research and development expenses

  $ 922   $ 1,706   $ 784  

Internal research and development expenses

    1,081     1,709   $ (2 )
               

Total research and development expenses

  $ 2,003   $ 2,785   $ 782  
               
               

        During the six months ended June 30, 2014, our total research and development expenses increased by $0.8 million compared to the six months ended June 30, 2013 due to $0.5 million in increased external manufacturing, process development and quality assurance expenses related to preparation for our upcoming radiocephalic AVF Phase 3 clinical trial and $0.3 million in increased external clinical expenses related to preparation for the radiocephalic AVF Phase 3 clinical trials. Our internal research and development expenses were unchanged in the six months ended June 30, 2014 as compared to the six months ended June 30, 2013.

        General and Administrative Expenses.    During the six months ended June 30, 2014, our total general and administrative expenses were $0.2 million higher as compared to the six months ended June 30, 2013. Changes from the prior period were primarily due to additional overhead and personnel costs in the six months ended June 30, 2014 of $0.2 million to support our on-going corporate activities

        Other Expense.    During the six months ended June 30, 2014, other expenses increased by $0.1 million as compared to the six months ended June 30, 2013 primarily related to the change in fair market value of the derivative liability associated with the convertible promissory notes.

        Interest Expense, Net.    During the six months ended June 30, 2014, interest expense, net increased by $0.9 million as compared to the six months ended June 30, 2013 due to the interest expense on our convertible promissory notes.

Comparison of the Years Ended December 31, 2012 and December 31, 2013

 
  Years Ended December 31,    
 
 
  Period-to-
Period Change
 
 
  2012   2013  
 
  (in thousands)
 

Operating expenses:

                   

Research and development

  $ 5,907   $ 3,994   $ (1,913 )

General and administrative

    2,089     3,128     1,039  
               

Total operating expenses

    7,996     7,122     (874 )
               

Loss from operations

    (7,996 )   (7,122 )   874  
               

Other income (expense):

                   

Interest expense, net

    20     (857 )   (877 )

Other income

    6     67     61  
               

Total other income (expense)

    26     (790 )   (816 )
               

Net loss

  $ (7,970 ) $ (7,912 ) $ 58  
               
               

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