Proteon logo     Print Page | Close Window

SEC Filings

S-1/A
PROTEON THERAPEUTICS INC filed this Form S-1/A on 10/07/2014
Entire Document
 


Proteon Therapeutics, Inc.

Notes to Financial Statements (Continued)

3. Financial Instruments (Continued)

        The Company's cash equivalents consist principally of money market funds. Short-term investments, consisting principally of government debt securities and money market funds, are classified as available-for-sale. Cash equivalents and short-term investments are stated at fair value and consist of Level 1 financial instruments in the fair value hierarchy. The Company determines the fair value of its debt security holdings based on pricing from a service provider. The service provider values the securities based on market prices from a variety of industry-standard independent data providers. Such market prices are quoted prices in active markets for identical assets (Level 1 inputs).

        The derivative liability and investors rights and obligations are considered Level 3 inputs because their fair value measurement is based, in part, on significant inputs not observed in the market. The Company determined the fair value of both liabilities as described in Note 5 and Note 9. Any reasonable changes in the assumptions used in the valuation could materially affect the financial results of the Company.

        Available-for-sale securities at December 31, 2012, 2013 and June 30, 2014 (unaudited) consist of the following (in thousands):

 
  Amortized
Cost
  Unrealized
Gains
  Unrealized
Losses
  Fair Value  

December 31, 2012

                         

Government securities

                         

(Due within 1 year)

  $ 5,061   $ 1   $   $ 5,062  
                   

  $ 5,061   $ 1   $   $ 5,062  
                   
                   

December 31, 2013

                         

Government securities

                         

(Due within 1 year)

  $ 2,359   $   $   $ 2,359  
                   

  $ 2,359   $   $   $ 2,359  
                   
                   

June 30, 2014

                         

Government securities

                         

(Due within 1 year)

  $ 16,793   $   $ 23   $ 16,770  
                   

  $ 16,793   $   $ 23   $ 16,770  
                   
                   

F-17