2017 Q2 Form 10-Q Financial Statement
#000156459017015654 Filed on August 04, 2017
Income Statement
| Concept | 2017 Q2 | 2016 Q2 |
|---|---|---|
| Revenue | $1.147M | $1.451M |
| YoY Change | -20.95% | 35.61% |
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $2.900M | $3.120M |
| YoY Change | -7.05% | 82.46% |
| % of Gross Profit | ||
| Research & Development | $15.37M | $7.404M |
| YoY Change | 107.59% | 23.9% |
| % of Gross Profit | ||
| Depreciation & Amortization | $340.0K | $70.00K |
| YoY Change | 385.71% | 0.0% |
| % of Gross Profit | ||
| Operating Expenses | $18.27M | $10.52M |
| YoY Change | 73.7% | 36.88% |
| Operating Profit | -$17.13M | -$9.068M |
| YoY Change | 88.85% | 37.08% |
| Interest Expense | $170.0K | $20.00K |
| YoY Change | 750.0% | -90.43% |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$2.000K | -$5.000K |
| YoY Change | -60.0% | -102.44% |
| Pretax Income | -$16.96M | -$9.050M |
| YoY Change | 87.4% | 36.71% |
| Income Tax | $0.00 | |
| % Of Pretax Income | ||
| Net Earnings | -$16.96M | -$9.053M |
| YoY Change | 87.32% | 36.77% |
| Net Earnings / Revenue | -1478.47% | -623.91% |
| Basic Earnings Per Share | -$0.47 | |
| Diluted Earnings Per Share | -$13.57M | -$0.47 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 25.04M | 19.14M |
| Diluted Shares Outstanding | 19.14M shares |
Balance Sheet
| Concept | 2017 Q2 | 2016 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $57.70M | $42.60M |
| YoY Change | 35.45% | |
| Cash & Equivalents | $23.90M | $42.64M |
| Short-Term Investments | $33.80M | |
| Other Short-Term Assets | $3.100M | $1.119M |
| YoY Change | 177.03% | |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $700.0K | $140.0K |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $61.50M | $43.90M |
| YoY Change | 40.09% | |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $500.0K | $456.0K |
| YoY Change | 9.65% | |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $100.0K | $102.0K |
| YoY Change | -1.96% | |
| Total Long-Term Assets | $600.0K | $852.0K |
| YoY Change | -29.58% | |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $61.50M | $43.90M |
| Total Long-Term Assets | $600.0K | $852.0K |
| Total Assets | $62.10M | $44.75M |
| YoY Change | 38.76% | |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $2.300M | $3.741M |
| YoY Change | -38.52% | |
| Accrued Expenses | $6.100M | $3.057M |
| YoY Change | 99.54% | |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $10.90M | $11.32M |
| YoY Change | -3.67% | |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $0.00 | $2.800M |
| YoY Change | -100.0% | |
| Total Long-Term Liabilities | $0.00 | $2.800M |
| YoY Change | -100.0% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $10.90M | $11.32M |
| Total Long-Term Liabilities | $0.00 | $2.800M |
| Total Liabilities | $10.90M | $14.14M |
| YoY Change | -22.9% | |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$189.5M | -$137.3M |
| YoY Change | 38.06% | |
| Common Stock | $26.00K | $20.00K |
| YoY Change | 30.0% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $51.16M | $30.61M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $62.06M | $44.75M |
| YoY Change | 38.67% |
Cashflow Statement
| Concept | 2017 Q2 | 2016 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$16.96M | -$9.053M |
| YoY Change | 87.32% | 36.77% |
| Depreciation, Depletion And Amortization | $340.0K | $70.00K |
| YoY Change | 385.71% | 0.0% |
| Cash From Operating Activities | -$12.34M | -$6.810M |
| YoY Change | 81.2% | 230.58% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$100.0K | -$10.00K |
| YoY Change | 900.0% | 0.0% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $20.92M | $10.00K |
| YoY Change | 209100.0% | |
| Cash From Investing Activities | $20.83M | $0.00 |
| YoY Change | -100.0% | |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 20.00K | -350.0K |
| YoY Change | -105.71% | -2.78% |
| NET CHANGE | ||
| Cash From Operating Activities | -12.34M | -6.810M |
| Cash From Investing Activities | 20.83M | 0.000 |
| Cash From Financing Activities | 20.00K | -350.0K |
| Net Change In Cash | 8.510M | -7.160M |
| YoY Change | -218.85% | 194.65% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$12.34M | -$6.810M |
| Capital Expenditures | -$100.0K | -$10.00K |
| Free Cash Flow | -$12.24M | -$6.800M |
| YoY Change | 80.0% | 231.71% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2017Q2 | us-gaap |
Liabilities
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10902000 | |
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Commitments And Contingencies
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Preferred Stock Value
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|
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Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
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18000 | |
| CY2016Q4 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
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91000 | |
| CY2016Q4 | us-gaap |
Liabilities
Liabilities
|
9684000 | |
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Commitments And Contingencies
CommitmentsAndContingencies
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Retained Earnings Accumulated Deficit
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Common Stock Shares Outstanding
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Revenues
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1451000 | |
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240661000 | |
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238902000 | |
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Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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-27000 | |
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Preferred Stock Value
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Common Stock Value
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26000 | |
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Common Stock Value
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26000 | |
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Preferred Stock Par Or Stated Value Per Share
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0.001 | |
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Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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Stockholders Equity
StockholdersEquity
|
51156000 | |
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Common Stock Par Or Stated Value Per Share
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Liabilities And Stockholders Equity
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62058000 | |
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Stockholders Equity
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|
81456000 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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| CY2017Q2 | us-gaap |
Retained Earnings Accumulated Deficit
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|
-189504000 | |
| CY2017Q2 | us-gaap |
Operating Income Loss
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Operating Income Loss
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-9068000 | |
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Preferred Stock Shares Authorized
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5000000 | |
| CY2016Q4 | us-gaap |
Common Stock Shares Authorized
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125000000 | |
| CY2017Q2 | us-gaap |
Preferred Stock Shares Authorized
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5000000 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
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Preferred Stock Shares Issued
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Investment Income Interest
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|
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Deferred Rent Credit Noncurrent
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Noncash Rent Expense Income
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|
-87000 | ||
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Share Based Compensation
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|
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Revenues
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|
1147000 | |
| CY2017Q2 | us-gaap |
General And Administrative Expense
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|
2902000 | |
| CY2016Q2 | us-gaap |
General And Administrative Expense
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|
3115000 | |
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Operating Expenses
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| CY2016Q2 | us-gaap |
Operating Expenses
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Net Income Loss Available To Common Stockholders Basic
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Weighted Average Number Of Share Outstanding Basic And Diluted
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Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-5000 | ||
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Comprehensive Income Net Of Tax
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-17044000 | ||
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Premium On Short Term Investments
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Accretion Amortization Of Discounts And Premiums Investments
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Noncash Rent Expense Income
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-97000 | ||
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Fair Value Adjustment Of Warrants
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Gain Loss On Disposition Of Assets
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Increase Decrease In Accounts Receivable
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Increase Decrease In Other Operating Assets
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-18000 | ||
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Increase Decrease In Other Operating Assets
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|
-42000 | ||
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Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
289000 | ||
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Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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1491000 | ||
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Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
1817000 | ||
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Increase Decrease In Accrued Liabilities
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|
1079000 | ||
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Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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|
51813000 | ||
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Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
136000 | ||
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Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
106000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
32000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
24000 | ||
| us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
2515000 | ||
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Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-729000 | ||
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Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-1472000 | ||
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Net Cash Provided By Used In Operating Activities Continuing Operations
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-27691000 | ||
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Net Cash Provided By Used In Operating Activities Continuing Operations
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-15211000 | ||
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Proceeds From Sale Of Property Plant And Equipment
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13000 | ||
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Net Cash Provided By Used In Investing Activities Continuing Operations
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|
32977000 | ||
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Net Cash Provided By Used In Investing Activities Continuing Operations
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-19000 | ||
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Proceeds From Issuance Initial Public Offering
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|
46500000 | ||
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Net Cash Provided By Used In Financing Activities Continuing Operations
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|
24000 | ||
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Net Cash Provided By Used In Financing Activities Continuing Operations
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|
44028000 | ||
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Cash And Cash Equivalents Period Increase Decrease
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|
5310000 | ||
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Cash And Cash Equivalents Period Increase Decrease
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28798000 | ||
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Cash And Cash Equivalents At Carrying Value
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13844000 | |
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Cash And Cash Equivalents At Carrying Value
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|
42642000 | |
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Conversion Of Stock Amount Converted1
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|
112292000 | ||
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Stock Issued For Payment Of Accrued Dividends
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|
3000 | ||
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Stock Issued For Payment Of Accrued Bonus
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|
62000 | ||
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Conversion Of Preferred Stock Warrants Into Common Stock Warrants
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|
28000 | ||
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Capital Expenditures Incurred But Not Yet Paid
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11000 | ||
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Nature Of Operations
NatureOfOperations
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<div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Nature of the Business</p></td></tr></table></div> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Proteostasis Therapeutics, Inc. (the “Company”) was incorporated in Delaware on December 13, 2006. The Company is an innovative biopharmaceutical company committed to the discovery and development of novel therapeutics that treat diseases caused by an imbalance in the proteostasis network, a set of pathways that control protein biosynthesis, folding, trafficking and clearance. The Company’s initial therapeutic focus is on cystic fibrosis, which is caused by defects in the cystic fibrosis transmembrane conductance regulator (“CFTR”) protein and insufficient CFTR protein function. The Company’s lead product candidates, PTI-428 and PTI-801, are in early clinical development, and the Company’s other drug candidates are in the early clinical, preclinical development and discovery phases.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of December 31, 2016, the Company adopted the provisions of Financial Statement Account Standards Board (FASB) Accounting Standard Codification (ASC) Topic 205-40, <font style="font-style:italic;">Presentation of Financial Statements – Going Concern</font> (ASC 205-40), which requires management to assess the Company’s ability to continue as a going concern for twelve months after the date of the financial statements are issued. This standard <font style="color:#000000;">requires management to 1) identify and disclose if there are initial conditions indicating substantial doubt about the Company’s ability to continue as a going concern within twelve months of the issuance date of the financial statements, 2) disclose the principal conditions that gave rise to substantial doubt, 3) disclose management’s evaluation of the significance of those conditions in relation to the Company’s ability to meet its obligations and 4) disclose management’s plans that are intended to mitigate the adverse conditions.  In accordance with the accounting standard, when considering management’s plans to mitigate the conditions giving rise to substantial doubt, management can only consider those plans which are probable to be successfully implemented</font>. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has incurred losses from operations since its inception. As of June 30, 2017, the Company had an accumulated deficit of $189.5 million. During the three and six months ended June 30, 2017, the Company incurred losses of $17.0 million and $32.1 million and during the six months ended June 30, 2017 the Company used $27.7 million of cash in operations. The Company expects to continue to generate operating losses in the foreseeable future. The Company currently expects that its cash, cash equivalents and short-term investments of $57.7 million will be sufficient to fund its operating expenses and capital requirements, based upon its current operating plan, through the second quarter of 2018. <font style="color:#000000;">As of June 30, 2017, management has further assessed this risk and, in accordance with the requirements of ASC 205-40, determined that there are initial conditions indicating that there is substantial doubt about the Company’s ability to continue as a going concern within twelve months of the issuance date of these condensed financial statements.  These indicators are the Company’s accumulated deficit and the forecasted cash expenditures. </font>Although the Company has been successful in raising capital in the past, there is no assurance that it will be successful in obtaining such additional financing on terms acceptable to the Company, if at all, nor is it considered probable under the accounting standards. <font style="color:#000000;">As such, under the requirements of ASC 205-40, management may not consider the potential for future capital raises in their assessment of the Company’s ability to meet its obligations for the next twelve months. If the Company is unable to obtain funding, the Company would be forced to delay, reduce or eliminate its research and development programs, product portfolio expansion or commercialization efforts, which could adversely affect its business prospects, or the Company may be unable to continue operations.</font></p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The ability to reduce spending at a level that mitigates the factors described above, is not considered probable, as defined in the accounting standards; as such, under the requirements of ASC 205-40, the full extent to which management may extend the Company’s funds through these actions may not be considered in management’s assessment of the Company’s ability to continue as a going concern for the next twelve months.  </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thus, in accordance with the requirements of ASC 205-40, management has concluded that it is required to disclose that substantial doubt exists about the Company’s ability to continue as a going concern for twelve months from the date these condensed financial statements are issued.  While management has plans in place to mitigate these actions, they are not considered probable, as defined in the accounting standards, and a failure to raise the additional funding or to effectively implement cost reductions could harm the Company’s business, results of operations and future prospects.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The condensed financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, the realization of assets and the satisfaction of liabilities and commitments in the normal course of business<font style="color:#000000;">.</font></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></div> | ||
| CY2016Q2 | us-gaap |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | |
| us-gaap |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="margin-top:18pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, revenue recognition, the accrual for research and development expenses and the valuation of common stock and the derivative liability. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.</p></div> | ||
| CY2017Q2 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
57700000 | |
| CY2016Q1 | us-gaap |
Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
|
9699600 | |
| CY2017Q2 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
33799000 | |
| CY2016Q4 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
66919000 | |
| CY2017Q2 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
27000 | |
| CY2016Q4 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
22000 | |
| CY2017Q2 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
33772000 | |
| CY2016Q4 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
66897000 | |
| CY2017Q2 | us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | |
| us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | ||
| CY2016Q2 | us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | |
| us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | ||
| CY2017Q2 | us-gaap |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | |
| us-gaap |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | ||
| CY2016Q2 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
0 | |
| CY2017Q2 | us-gaap |
Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
|
0 | |
| CY2016Q4 | us-gaap |
Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
|
0 | |
| CY2017Q2 | us-gaap |
Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
|
0 | |
| CY2016Q4 | us-gaap |
Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
|
0 | |
| CY2017Q2 | us-gaap |
Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
|
0 | |
| CY2016Q4 | us-gaap |
Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
|
0 | |
| CY2017Q2 | us-gaap |
Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
|
0 | |
| CY2016Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
19139183 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
25030291 | ||
| CY2016Q4 | us-gaap |
Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
|
0 | |
| us-gaap |
Fair Value Option Methodology And Assumptions
FairValueOptionMethodologyAndAssumptions
|
Monte-Carlo simulation analysis | ||
| us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P2Y6M | ||
| CY2016 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P2Y6M | |
| us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.800 | ||
| CY2016 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.811 | |
| us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0147 | ||
| CY2016 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0133 | |
| us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
|
-73000 | ||
| CY2017Q2 | pti |
Prepaid Clinical Manufacturing And Scientific Expenses Current
PrepaidClinicalManufacturingAndScientificExpensesCurrent
|
1720000 | |
| CY2016Q4 | pti |
Prepaid Clinical Manufacturing And Scientific Expenses Current
PrepaidClinicalManufacturingAndScientificExpensesCurrent
|
1390000 | |
| CY2017Q2 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
379000 | |
| CY2016Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
104000 | |
| CY2017Q2 | pti |
Other Prepaid Expenses And Other Current Assets
OtherPrepaidExpensesAndOtherCurrentAssets
|
668000 | |
| CY2016Q4 | pti |
Other Prepaid Expenses And Other Current Assets
OtherPrepaidExpensesAndOtherCurrentAssets
|
2565000 | |
| CY2017Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1322000 | |
| CY2016Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1813000 | |
| CY2017Q2 | pti |
Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
|
4428000 | |
| CY2016Q4 | pti |
Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
|
1612000 | |
| CY2017Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
291000 | |
| CY2016Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
383000 | |
| CY2017Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
104000 | |
| CY2016Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
520000 | |
| CY2017Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
991000 | |
| CY2016Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
497000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1735000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
805000 | ||
| CY2017Q2 | us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
| us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | ||
| CY2016Q2 | us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
| us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | ||
| CY2017Q2 | us-gaap |
State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
| us-gaap |
State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
|
0 | ||
| CY2016Q2 | us-gaap |
State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
| us-gaap |
State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
|
0 | ||
| CY2017Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-16958000 | |
| CY2016Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-9053000 | |
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-32054000 | ||
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-18422000 | ||
| CY2017Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
25040131 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14953022 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
2590558 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1766324 | ||
| us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
4349 |
