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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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Proteon Therapeutics, Inc.

Balance Sheets

(in thousands, except share and per share data)

 
  December 31,   June 30, 2014  
 
  2012   2013   Actual   Pro forma  
 
   
   
  (unaudited)
 

Assets

                         

Current assets:

                         

Cash and cash equivalents

  $ 2,409   $ 2,793   $ 8,646   $ 8,646  

Available-for-sale investments

    5,062     2,359     16,770     16,770  

Prepaid expenses

    152     61     392     392  

Other current assets

    41     78     16     16  

Short-term deposits

    39     39     39     39  
                   

Total current assets

    7,703     5,330     25,863     25,863  

Property and equipment, net

    79     62     85     85  

Deferred tax asset

          267          

Other non-current assets

            1,194     1,194  
                   

Total assets

  $ 7,782   $ 5,659   $ 27,142   $ 27,142  
                   
                   

Liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)

                         

Current liabilities:

                         

Convertible notes, including accrued interest payable of $0 and $112 as of December 31, 2012 and 2013, $0 as of June 30, 2014, and $0 pro forma

  $   $ 3,727   $   $  

Derivative liability

        1,443          

Accounts payable

    469     399     994     994  

Accrued expenses

    735     984     2,006     2,006  

Deferred tax liability

        267          

Current portion of deferred revenue from sale of option to acquire company

        2,948     2,948     2,948  
                   

Total current liabilities

    1,204     9,768     5,948     5,948  

Non-current liabilities:

                         

Deferred revenue from sale of option to acquire company

    2,948              

Investors' rights/obligations

            6,580      
                   

Total liabilities

    4,152     9,768     12,528     5,948  

Commitments and contingencies (Note 8)

                 

Redeemable convertible preferred stock:

                         

Series A redeemable convertible preferred stock, $0.001 par value, 22,638,465 shares authorized, issued, and outstanding at December 31, 2012, December 31, 2013, and June 30, 2014 (unaudited); no shares issued and outstanding pro forma (unaudited); aggregate liquidation preference of $22,638, $22,638 and $12,288 at December 31, 2012, 2013 and June 30, 2014 (unaudited) and none pro forma (unaudited)

    32,633     34,230     35,015      

Series A-1 redeemable convertible preferred stock, $0.001 par value, 10,909,091 shares authorized, issued, and outstanding at December 31, 2012, December 31, 2013 and June 30, 2014 (unaudited); and no shares issued and outstanding pro forma (unaudited); aggregate liquidation preference of $12,000, $12,000 and $6,514 at December 31, 2012, December 31, 2013, and June 30, 2014 (unaudited) and none pro forma (unaudited)

    16,526     17,374     17,790      

Series B redeemable convertible preferred stock, $0.001 par value, 20,754,461 shares authorized, issued, and outstanding at December 31, 2012, December 31, 2013, and June 30, 2014 (unaudited); no shares issued and outstanding pro forma (unaudited); aggregate liquidation preference of $23,867, $23,867 and $12,955 at December 31, 2012, December 31, 2013, and June 30, 2014 (unaudited) and none pro forma (unaudited)

    24,926     27,401     28,573      

Series C redeemable convertible preferred stock, $0.001 par value, 17,550,758 shares authorized, 13,202,932 issued, and outstanding at December 31, 2012, December 31, 2013, and June 30, 2014 (unaudited); no shares issued and outstanding pro forma (unaudited); aggregate liquidation preference of $15,183, $15,183 and $8,241 at December 31, 2012, December 31, 2013, and June 30, 2014 (unaudited) and none pro forma (unaudited)

    16,201     17,400     17,982      

Series D redeemable convertible preferred stock, $0.001 par value, 0, 0 and 86,789,527 shares authorized, 0, 0 and 52,813,827 issued, and outstanding at December 31, 2012, December 31, 2013, and June 30, 2014 (unaudited); no shares issued and outstanding pro forma (unaudited); aggregate liquidation preference of $0, $0 and $31,089 at December 31, 2012, December 31, 2013, and June 30, 2014 (unaudited) and none pro forma (unaudited)

            24,544      

Stockholders' equity (deficit):

                         

Common stock, $0.001 par value, 100,370,203, 100,370,203 and 205,926,290 shares authorized at December 31, 2012, December 31, 2013, June 30, 2014 (unaudited) and pro forma (unaudited); 230,607, 239,905 and 240,378 issued and outstanding at December 31, 2012, December 31, 2013, and June 30, 2014, respectively, and 8,741,816 shares issued and outstanding pro forma (unaudited)

    0     0     0     9  

Additional paid-in capital

                123,895  

Accumulated deficit

    (86,657 )   (100,514 )   (109,267 )   (102,687 )

Accumulated other comprehensive income (loss)

    1         (23 )   (23 )
                   

Total stockholders' equity (deficit)

    (86,656 )   (100,514 )   (109,290 )   21,194  
                   

Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)

  $ 7,782   $ 5,659   $ 27,142   $ 27,142  
                   
                   

   

See accompanying notes to financial statements.

F-3