2018 Q3 Form 10-Q Financial Statement
#000156459018027424 Filed on November 06, 2018
Income Statement
| Concept | 2018 Q3 | 2017 Q3 |
|---|---|---|
| Revenue | $1.055M | $1.551M |
| YoY Change | -31.98% | -9.56% |
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $4.150M | $2.740M |
| YoY Change | 51.46% | -16.21% |
| % of Gross Profit | ||
| Research & Development | $15.59M | $12.89M |
| YoY Change | 20.92% | 39.88% |
| % of Gross Profit | ||
| Depreciation & Amortization | $340.0K | $320.0K |
| YoY Change | 6.25% | 190.91% |
| % of Gross Profit | ||
| Operating Expenses | $19.74M | $15.64M |
| YoY Change | 26.26% | 25.24% |
| Operating Profit | -$18.69M | -$14.08M |
| YoY Change | 32.68% | 30.78% |
| Interest Expense | $170.0K | $160.0K |
| YoY Change | 6.25% | 300.0% |
| % of Operating Profit | ||
| Other Income/Expense, Net | $87.00K | -$25.00K |
| YoY Change | -448.0% | -34.21% |
| Pretax Income | -$18.43M | -$13.95M |
| YoY Change | 32.11% | 29.53% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$18.43M | -$13.95M |
| YoY Change | 32.06% | 29.55% |
| Net Earnings / Revenue | -1746.73% | -899.68% |
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | -$10.07M | -$11.16M |
| COMMON SHARES | ||
| Basic Shares Outstanding | 36.69M | 25.09M |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2018 Q3 | 2017 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $46.40M | $43.20M |
| YoY Change | 7.41% | -56.89% |
| Cash & Equivalents | $19.71M | $20.14M |
| Short-Term Investments | $26.70M | $25.00M |
| Other Short-Term Assets | $1.900M | $2.100M |
| YoY Change | -9.52% | -12.06% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $1.100M | |
| Other Receivables | $0.00 | |
| Total Short-Term Assets | $48.30M | $46.40M |
| YoY Change | 4.09% | -55.0% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $14.80M | $12.60M |
| YoY Change | 17.46% | 4100.0% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $800.0K | $1.700M |
| YoY Change | -52.94% | 325.0% |
| Total Long-Term Assets | $15.70M | $14.30M |
| YoY Change | 9.79% | 1942.86% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $48.30M | $46.40M |
| Total Long-Term Assets | $15.70M | $14.30M |
| Total Assets | $64.00M | $60.70M |
| YoY Change | 5.44% | -41.52% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $2.145M | $2.500M |
| YoY Change | -14.2% | -10.71% |
| Accrued Expenses | $9.400M | $5.900M |
| YoY Change | 59.32% | 40.48% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $11.60M | $11.00M |
| YoY Change | 5.45% | -7.56% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $13.50M | $11.36M |
| YoY Change | 18.89% | 497.63% |
| Total Long-Term Liabilities | $13.50M | $11.36M |
| YoY Change | 18.89% | 497.63% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $11.60M | $11.00M |
| Total Long-Term Liabilities | $13.50M | $11.36M |
| Total Liabilities | $25.10M | $22.40M |
| YoY Change | 12.05% | 62.12% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $38.91M | $38.30M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $64.00M | $60.70M |
| YoY Change | 5.44% | -41.52% |
Cashflow Statement
| Concept | 2018 Q3 | 2017 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$18.43M | -$13.95M |
| YoY Change | 32.06% | 29.55% |
| Depreciation, Depletion And Amortization | $340.0K | $320.0K |
| YoY Change | 6.25% | 190.91% |
| Cash From Operating Activities | -$14.63M | -$12.87M |
| YoY Change | 13.68% | 2.06% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $0.00 | -$10.00K |
| YoY Change | -100.0% | |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $14.28M | $8.760M |
| YoY Change | 63.01% | -115.56% |
| Cash From Investing Activities | $14.28M | $8.740M |
| YoY Change | 63.39% | -115.52% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 140.0K | 50.00K |
| YoY Change | 180.0% | -99.93% |
| NET CHANGE | ||
| Cash From Operating Activities | -14.63M | -12.87M |
| Cash From Investing Activities | 14.28M | 8.740M |
| Cash From Financing Activities | 140.0K | 50.00K |
| Net Change In Cash | -210.0K | -4.080M |
| YoY Change | -94.85% | -445.76% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$14.63M | -$12.87M |
| Capital Expenditures | $0.00 | -$10.00K |
| Free Cash Flow | -$14.63M | -$12.86M |
| YoY Change | 13.76% | 1.98% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
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Operating Lease Liability Current
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Operating Lease Liability Noncurrent
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Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
294000 | |
| CY2017Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1377000 | |
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Assets Current
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|
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Operating Lease Right Of Use Asset
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Accounts Payable Current
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|
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Research And Development Expense
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Investment Income Interest
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|
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|
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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 a clinical stage biopharmaceutical company developing small molecule therapeutics to treat cystic fibrosis (“CF”) and other diseases caused by dysfunctional protein processing. The Company focuses on identifying therapies that restore protein function. CF is a disease 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, an amplifier, PTI-801, a third-generation corrector, and PTI-808, a potentiator, as well as a dual combination consisting of PTI-801 and PTI-808, and a triple combination consisting of PTI-428, PT-801, and PTI-808 are in clinical development. The Company’s other drug candidates are in the 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;">The <font style="color:#000000;">Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations and ability to secure additional capital to fund operations. Product candidates currently under development will require significant additional research and development efforts, including extensive preclinical and clinical testing and regulatory approval prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure and extensive compliance-reporting capabilities. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales</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;">In October 2018, the Company completed a follow-on public offering whereby the Company sold 11,000,000 shares of common stock at a price to the public of $6.75 per share. The aggregate net proceeds received by the Company from the offering were approximately $69.5 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. On November 6, 2018, the Company issued and sold an additional 1,650,000 shares of its common stock at the offering price of $6.75 per share as a result of the full exercise by the underwriters of their option to purchase additional shares. The net proceeds from this issuance were $10.5 million, after deducting underwriting discounts and commissions. </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;">In March 2018, the Company entered into a sales agreement with Leerink Partners LLC (“Leerink”) with respect to an at-the-market (“ATM”) offering program under which the Company may issue and sell, from time to time at its sole discretion, shares of its common stock, having an aggregate offering price of up to $50.0 million. Leerink is not required to sell any specific amount but acts as the Company’s sales agent on a commercially reasonable efforts basis consistent with its normal trading and sales practices. Common stock will be sold at prevailing market prices at the time of the sale; and as a result, prices may vary. The Company will pay Leerink up to 3% of the gross proceeds from any common stock sold through the sales agreement. In October 2018, the Company sold 1,364,348 shares of its common stock for net proceeds of approximately $11.2 million under the ATM program. As of October 19, 2018, the Company had sold an aggregate of 3,475,166 shares of its common stock for total net proceeds of approximately $21.7 million under the ATM program and $27.6 million of common stock remained available for sale. In connection with its follow-on offering in October 2018, the Company has suspended sales under the ATM program.  </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;">In accordance with ASC 205-40, <font style="font-style:italic;">Going Concern</font> (“ASC 205-40”), the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date the financial statements are issued<font style="color:#000000;">. As of September 30, 2018, the Company had an accumulated deficit of $260.6 million. During the nine months ended September 30, 2018, the Company incurred losses of $44.9 million and used $39.5 million of cash in operations. </font>The Company expects to continue to generate operating losses in the foreseeable future. Based upon its current operating plan, the Company expects that its cash, cash equivalents and short-term investments of<font style="color:#000000;"> $46.4 million and the net proceeds from its follow-on offering of approximately $80.0 million, after deducting underwriting discounts and commissions and estimated offering expenses, and net proceeds from the ATM program of approximately $11.2 million during the fourth quarter of 2018 will be sufficient to fund its operating expenses and capital requirements into early 2020. </font> However, additional funding will be necessary to complete the funding of critical path activities anticipated in 2020. In accordance with the requirements of ASC 205-40, the Company determined that there is substantial doubt about the Company’s ability to continue as a going concern within 12 months of the issuance date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company intends to obtain additional funding through public or private financing or collaborative arrangements with strategic partners to increase the funds available to support its operating and capital needs. 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. As such, under the requirements of ASC 205-40, management may not consider the potential for future capital raises or management plans to reduce costs that are not considered probable in its assessment of the Company’s ability to meet its obligations for the next 12 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.</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> | ||
| us-gaap |
Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
|
<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;">Summary of Significant Accounting Policies<font style="font-weight:normal;font-style:normal;"> </font></p> <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;">The Company’s significant accounting policies, which are disclosed in the audited consolidated financial statements for the year ended December 31, 2017 and the notes thereto are included in the Company’s Annual Report on Form 10-K that was filed with the SEC on March 14, 2018. Certain amounts reported in the previous year have been recast as a result of the retrospective adoption of new accounting standards in the first quarter of 2018. Refer to Note 2 - <font style="font-style:italic;">Recently Issued and Adopted Accounting Pronouncements, </font>Note 8 - <font style="font-style:italic;">Collaboration Agreement</font>, and Note 11 - <font style="font-style:italic;">Leases, </font>for further discussion. </p></div> | ||
| 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> | ||
| CY2018Q3 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
46400000 | |
| CY2018Q3 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
26699000 | |
| CY2017Q4 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
44740000 | |
| CY2017Q4 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
1000 | |
| CY2018Q3 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
7000 | |
| CY2017Q4 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
3000 | |
| CY2018Q3 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
26692000 | |
| CY2017Q4 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
44738000 | |
| CY2018Q3 | us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | |
| CY2017Q3 | 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 | ||
| us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | ||
| CY2018Q3 | us-gaap |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | |
| CY2017Q3 | 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 |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | ||
| CY2018Q3 | us-gaap |
Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
|
0 | |
| CY2017Q4 | us-gaap |
Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
|
0 | |
| CY2018Q3 | us-gaap |
Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
|
0 | |
| CY2017Q4 | us-gaap |
Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
|
0 | |
| CY2018Q3 | us-gaap |
Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
|
0 | |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
2946853 | ||
| CY2017Q4 | us-gaap |
Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
|
0 | |
| pti |
Lessee Leasing Arrangements Operating Lease Expiration Date
LesseeLeasingArrangementsOperatingLeaseExpirationDate
|
2018-05 | ||
| CY2018Q1 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P10Y | |
| CY2018Q1 | us-gaap |
Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
|
P7Y | |
| CY2018Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
447000 | |
| CY2017Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
286000 | |
| CY2018Q3 | us-gaap |
Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
|
0 | |
| CY2017Q4 | us-gaap |
Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
|
0 | |
| pti |
Fair Value Option Methodology And Assumption
FairValueOptionMethodologyAndAssumption
|
Monte-Carlo simulation analysis | ||
| us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
|
-22000 | ||
| CY2018Q3 | pti |
Prepaid Clinical Manufacturing And Scientific Expenses Current
PrepaidClinicalManufacturingAndScientificExpensesCurrent
|
911000 | |
| CY2017Q4 | pti |
Prepaid Clinical Manufacturing And Scientific Expenses Current
PrepaidClinicalManufacturingAndScientificExpensesCurrent
|
568000 | |
| CY2018Q3 | pti |
Variable Lease Cost Adjustments To Initial Direct Cost
VariableLeaseCostAdjustmentsToInitialDirectCost
|
154000 | |
| CY2018Q3 | us-gaap |
Lease Cost
LeaseCost
|
601000 | |
| CY2017Q3 | us-gaap |
Lease Cost
LeaseCost
|
286000 | |
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1769000 | ||
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
857000 | ||
| pti |
Variable Lease Cost Adjustments To Initial Direct Cost
VariableLeaseCostAdjustmentsToInitialDirectCost
|
463000 | ||
| CY2018Q3 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
347000 | |
| us-gaap |
Lease Cost
LeaseCost
|
2232000 | ||
| us-gaap |
Lease Cost
LeaseCost
|
857000 | ||
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1220000 | ||
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1006000 | ||
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
14502000 | ||
| CY2018Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P9Y7M2D | |
| CY2017Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P7M2D | |
| CY2018Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0450 | |
| CY2017Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0406 | |
| CY2018Q3 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
414000 | |
| CY2018Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
1686000 | |
| CY2018Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
1733000 | |
| CY2018Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
1780000 | |
| CY2017Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
55000 | |
| CY2018Q3 | pti |
Other Prepaid Expenses And Other Current Assets
OtherPrepaidExpensesAndOtherCurrentAssets
|
672000 | |
| CY2017Q4 | pti |
Other Prepaid Expenses And Other Current Assets
OtherPrepaidExpensesAndOtherCurrentAssets
|
754000 | |
| CY2018Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2003000 | |
| CY2017Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1542000 | |
| CY2018Q3 | pti |
Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
|
5510000 | |
| CY2017Q4 | pti |
Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
|
3930000 | |
| CY2018Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
647000 | |
| CY2018Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
1829000 | |
| CY2017Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
556000 | |
| CY2018Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
246000 | |
| CY2017Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
92000 | |
| CY2018Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1025000 | |
| CY2017Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1048000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
3401000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2783000 | ||
| CY2018Q3 | us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
| CY2017Q3 | us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
| us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | ||
| us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | ||
| CY2018Q3 | us-gaap |
State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
| CY2017Q3 | 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 | ||
| us-gaap |
State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
|
0 | ||
| CY2018Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
36694957 | |
| CY2017Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
25093344 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
35734159 | ||
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
25051536 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3371222 | ||
| CY2018Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
10637000 | |
| CY2018Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
18079000 | |
| CY2018Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
3577000 | |
| CY2018Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
14502000 |
