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PROTEON THERAPEUTICS INC filed this Form S-1/A on 10/07/2014
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Proteon Therapeutics, Inc.

Notes to Financial Statements (Continued)

14. Net loss Per Share Attributable to Common Stockholders (Continued)

        The following Common Stock equivalents, presented on an as converted basis, were excluded from the calculation of net loss per share for the periods presented, due to their anti-dilutive effect (in thousands):

  December 31,   June 30,  
  2012   2013   2013   2014  

Convertible preferred stock

    4,254     4,254     4,254     7,581  

Common stock warrants

    660     660     660     660  

Outstanding stock options

    614     607     617     1,134  

Convertible notes


    5,528     5,764     5,531     9,375  

15. Subsequent Events

        On August 4, 2014, the Company entered into an Amendment (the "Lease Amendment") to the existing Lease Agreement dated July 13, 2009 (the "Lease Agreement"), with Boston Properties Limited Partnership ("Lessor") pursuant to which the Company has agreed to extend the lease for approximately 5,000 square feet of property to be used for office space (the "Leased Property") located at 200 West St., Waltham, Massachusetts. The term of the Lease Amendment commences on January 1, 2015 (the "Commencement Date") and expires approximately three years and six months from the Commencement Date. The Company has the option to extend the term for one additional one-year period upon the Company's written notice to the Lessor at least nine months in advance of the extension.

        The total cash obligation for the base rent over the three year and six month term of the Lease Agreement is approximately $0.6 million. In addition to the base rent, the Company is also responsible for its share of operating expenses and real estate taxes, in accordance with the terms of the Lease Agreement. The Company will provide a security deposit in the amount of $14,000 to the Lessor.

        In connection with preparing for its initial public offering, on October 1, 2014, the Board of Directors and, on October 3, 2014, the stockholders approved a 1-for-15.87 reverse stock split of the Company's Common Stock and a proportional adjustment to the existing conversion ratios for each series of Preferred Stock. The stock split became effective on October 6, 2014. The stockholders entitled to fractional shares as a result of the reverse stock split will receive a cash payment in lieu of receiving fractional shares. The Company's historical share and per share information presented in these consolidated financial statements and notes thereto has been retroactively adjusted to give effect to this reverse stock split. The shares of Common Stock underlying outstanding stock options were proportionately reduced and the respective exercise prices were proportionately increased. Shares of Common Stock reserved for future issuance were presented on an as converted basis and the financial statements disclose the adjusted conversion ratios.

        On August 21, 2014, the Board of Directors adopted the Proteon Therapeutics, Inc. 2014 Incentive Plan, the 2014 Employee Stock Purchase Plan and the 2006 Equity Incentive Plan, as amended and restated, and on October 3, 2014, the stockholders approved such plans.

        The 2014 Equity Incentive Plan, which will become effective immediately prior to effectiveness of the Company's initial public offering, provides for the grant of incentive stock option and nonstatutory stock options, stock appreciation rights, restricted stock and stock unit awards, performance units, stock grants