$PTGX
Protagonist Therapeutics, Inc

2016 Q3 Form 10-Q Financial Statement

#000119312516710986 Filed on September 15, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.580M $1.400M $790.0K
YoY Change 83.72% 77.22%
% of Gross Profit
Research & Development $5.561M $5.696M $2.297M
YoY Change 76.09% 147.98%
% of Gross Profit
Depreciation & Amortization $80.00K $90.00K $50.00K
YoY Change 60.0% 80.0%
% of Gross Profit
Operating Expenses $7.138M $7.091M $3.083M
YoY Change 77.52% 130.0%
Operating Profit -$7.138M -$7.091M -$3.083M
YoY Change 77.52% 130.0%
Interest Expense $50.00K $30.00K -$140.0K
YoY Change -91.23% -121.43%
% of Operating Profit
Other Income/Expense, Net $0.00 -$34.00K $0.00
YoY Change
Pretax Income -$7.080M -$7.100M -$3.220M
YoY Change 105.22% 120.5%
Income Tax
% Of Pretax Income
Net Earnings -$7.084M -$7.098M -$3.219M
YoY Change 105.39% 120.5%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$482.9K -$484.3K -$219.6K
COMMON SHARES
Basic Shares Outstanding 16.46M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $98.50M $20.20M
YoY Change
Cash & Equivalents $96.02M $13.77M $3.399M
Short-Term Investments $2.500M $6.400M
Other Short-Term Assets $1.800M $500.0K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $102.2M $22.42M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $564.0K $599.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $34.00K $34.00K
YoY Change
Total Long-Term Assets $598.0K $2.099M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $102.2M $22.42M
Total Long-Term Assets $598.0K $2.099M
Total Assets $102.8M $24.52M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.335M $1.441M
YoY Change
Accrued Expenses $3.014M $2.669M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.349M $4.110M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.349M $4.110M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $5.349M $4.110M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$53.35M -$46.26M
YoY Change
Common Stock $150.9M $158.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $97.49M -$46.20M
YoY Change
Total Liabilities & Shareholders Equity $102.8M $24.52M
YoY Change

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$7.084M -$7.098M -$3.219M
YoY Change 105.39% 120.5%
Depreciation, Depletion And Amortization $80.00K $90.00K $50.00K
YoY Change 60.0% 80.0%
Cash From Operating Activities -$6.980M -$8.070M -$3.450M
YoY Change 85.15% 133.91%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K -$30.00K -$60.00K
YoY Change -54.55% -50.0%
Acquisitions
YoY Change
Other Investing Activities $3.930M -$6.010M $0.00
YoY Change
Cash From Investing Activities $3.890M -$6.040M -$60.00K
YoY Change -3636.36% 9966.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 85.28M -750.0K 60.00K
YoY Change 391.24% -1350.0%
NET CHANGE
Cash From Operating Activities -6.980M -8.070M -3.450M
Cash From Investing Activities 3.890M -6.040M -60.00K
Cash From Financing Activities 85.28M -750.0K 60.00K
Net Change In Cash 82.19M -14.86M -3.450M
YoY Change 509.72% 330.72%
FREE CASH FLOW
Cash From Operating Activities -$6.980M -$8.070M -$3.450M
Capital Expenditures -$50.00K -$30.00K -$60.00K
Free Cash Flow -$6.930M -$8.040M -$3.390M
YoY Change 89.34% 137.17%

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us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
In July 2016, the Company's board of directors approved an amendment to the Company's amended and restated certificate of incorporation to effect a reverse split of the Company's issued and outstanding common stock at a 1-for-14.5 ratio, which was effected on August 11, 2016.
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
dei Trading Symbol
TradingSymbol
PTGX
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11321000
us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
22508000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
143000
us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
265000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
770000
CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
27000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0127 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.27
us-gaap Share Based Compensation
ShareBasedCompensation
162000
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
265000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.625 pure
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
335855 shares
ptgx Stock Issuance Costs Incurred But Not Yet Paid
StockIssuanceCostsIncurredButNotYetPaid
696000
ptgx Stockholders Equity Reverse Stock Split Effective Date
StockholdersEquityReverseStockSplitEffectiveDate
2016-08-11
ptgx Accretion Of Redeemable Convertible Preferred Stock
AccretionOfRedeemableConvertiblePreferredStock
265000
ptgx Amortization Of Premium On Available For Sale Securities
AmortizationOfPremiumOnAvailableForSaleSecurities
72000
ptgx Reclassification Of Preferred Stock Warrant Liability To Equity
ReclassificationOfPreferredStockWarrantLiabilityToEquity
1005000
ptgx Settlement Of Fair Value Of Redeemable Convertible Preferred Stock Liability
SettlementOfFairValueOfRedeemableConvertiblePreferredStockLiability
5837000
ptgx Increase Decrease In Research And Development Tax Credit Receivable
IncreaseDecreaseInResearchAndDevelopmentTaxCreditReceivable
1030000
ptgx Fair Value Adjustment Of Tranche Liability
FairValueAdjustmentOfTrancheLiability
4194000
ptgx Fair Value Adjustment Of Tranche And Warrants
FairValueAdjustmentOfTrancheAndWarrants
4719000
CY2016Q1 ptgx Settlement Of Fair Value Of Redeemable Convertible Preferred Stock Liability
SettlementOfFairValueOfRedeemableConvertiblePreferredStockLiability
5800000
CY2015 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3643541 shares
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-13.78
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
786000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3245000
CY2015Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
136000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
3083000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-3219000
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-26000
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3219000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-3083000
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2297000
CY2015Q2 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
0
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
233531 shares
CY2015Q2 ptgx Fair Value Adjustment Of Tranche And Warrants
FairValueAdjustmentOfTrancheAndWarrants
136000
CY2016Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9887412 shares
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-19.07
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
106000
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1395000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7103000
CY2016Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
0
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-34000
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
7091000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-7098000
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-4000
CY2016Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-1000
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7323000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-7091000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5696000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.625 pure
CY2016Q2 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
225000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0138 pure
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M17D
CY2016Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
225000
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
383910 shares

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