$PTPI
Petros Pharmaceuticals, Inc.

2024 Q4 Form 10-Q Financial Statement

#000141057824001943 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $1.576M
YoY Change -5.87%
Cost Of Revenue $287.0K
YoY Change -29.74%
Gross Profit $1.289M
YoY Change 1.83%
Gross Profit Margin 81.79%
Selling, General & Admin $2.301M
YoY Change 14.95%
% of Gross Profit 178.48%
Research & Development $588.4K
YoY Change 51.21%
% of Gross Profit 45.63%
Depreciation & Amortization $739.4K
YoY Change -10.56%
% of Gross Profit 57.35%
Operating Expenses $3.629M
YoY Change -40.24%
Operating Profit -$2.340M
YoY Change -51.32%
Interest Expense $119.1K
YoY Change -130.31%
% of Operating Profit
Other Income/Expense, Net $119.1K
YoY Change -81.68%
Pretax Income -$2.221M
YoY Change -51.19%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.221M
YoY Change -51.19%
Net Earnings / Revenue -140.87%
Basic Earnings Per Share -$0.53
Diluted Earnings Per Share -$0.53
COMMON SHARES
Basic Shares Outstanding 10.01M 9.607M
Diluted Shares Outstanding 9.830M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.895M
YoY Change -78.33%
Cash & Equivalents $3.900M
Short-Term Investments
Other Short-Term Assets $4.760K
YoY Change -91.73%
Inventory $1.406M
Prepaid Expenses
Receivables $1.949M
Other Receivables $0.00
Total Short-Term Assets $10.72M
YoY Change -56.11%
LONG-TERM ASSETS
Property, Plant & Equipment $18.82K
YoY Change -40.28%
Goodwill
YoY Change
Intangibles $6.826M
YoY Change -30.15%
Long-Term Investments
YoY Change
Other Assets $3.124M
YoY Change -29.26%
Total Long-Term Assets $9.969M
YoY Change -31.16%
TOTAL ASSETS
Total Short-Term Assets $10.72M
Total Long-Term Assets $9.969M
Total Assets $20.69M
YoY Change -46.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.601M
YoY Change 18.15%
Accrued Expenses $6.539M
YoY Change 69.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $2.326M
YoY Change 104.14%
Total Short-Term Liabilities $12.56M
YoY Change 55.43%
LONG-TERM LIABILITIES
Long-Term Debt $4.923M
YoY Change -32.09%
Other Long-Term Liabilities $91.83K
YoY Change -39.34%
Total Long-Term Liabilities $91.83K
YoY Change -39.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.56M
Total Long-Term Liabilities $91.83K
Total Liabilities $17.58M
YoY Change -44.83%
SHAREHOLDERS EQUITY
Retained Earnings -$103.9M
YoY Change 4.74%
Common Stock $1.002K
YoY Change 374.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.116M
YoY Change
Total Liabilities & Shareholders Equity $20.69M
YoY Change -46.82%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$2.221M
YoY Change -51.19%
Depreciation, Depletion And Amortization $739.4K
YoY Change -10.56%
Cash From Operating Activities -$771.2K
YoY Change -80.94%
INVESTING ACTIVITIES
Capital Expenditures $19.14K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$19.14K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.775M
YoY Change -118.97%
NET CHANGE
Cash From Operating Activities -771.2K
Cash From Investing Activities -19.14K
Cash From Financing Activities -2.775M
Net Change In Cash -3.565M
YoY Change -133.69%
FREE CASH FLOW
Cash From Operating Activities -$771.2K
Capital Expenditures $19.14K
Free Cash Flow -$790.4K
YoY Change

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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
204492
us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
1153846
us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
249701
ptpi Preferred Stock Redemption Including Cash Premium
PreferredStockRedemptionIncludingCashPremium
-89531
us-gaap Net Income Loss
NetIncomeLoss
-8481338
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
6932543
us-gaap Profit Loss
ProfitLoss
-5045350
us-gaap Profit Loss
ProfitLoss
-8481338
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2175126
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2480385
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
16579
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
32516
ptpi Inventory And Sample Inventory Reserve
InventoryAndSampleInventoryReserve
-35055
ptpi Inventory And Sample Inventory Reserve
InventoryAndSampleInventoryReserve
41195
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
101328
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
97622
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3550000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-430000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-11739000
ptpi Loss On Issuance Of Series Preferred Stock
LossOnIssuanceOfSeriesPreferredStock
11088997
ptpi Noncash Warrant Expense
NoncashWarrantExpense
1595000
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
197215
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
204492
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
270000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-260959
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
897289
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-239795
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
63191
ptpi Increase Decrease In Prepaid Inventories
IncreaseDecreaseInPrepaidInventories
466313
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1386593
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-359492
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-112287
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-451338
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1179294
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
234364
ptpi Increase Decrease Of Deferred Revenue
IncreaseDecreaseOfDeferredRevenue
-46895
ptpi Increase Decrease Of Deferred Revenue
IncreaseDecreaseOfDeferredRevenue
-281372
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-93620
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
94113
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-45825
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-111283
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3568456
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5366635
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19138
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-19138
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-765279
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-1089683
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
15000003
us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
5089417
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5854696
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13910320
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-9442290
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8543685
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13336975
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9426264
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3894685
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17969949
us-gaap Interest Paid Net
InterestPaidNet
234721
us-gaap Interest Paid Net
InterestPaidNet
410317
ptpi Non Cash Acquisition Active Pharmaceutical Ingredient Of Purchase Agreement
NonCashAcquisitionActivePharmaceuticalIngredientOfPurchaseAgreement
-663984
ptpi Noncash Decrease In Api Purchase Commitment Related To Vivus Settlement
NoncashDecreaseInApiPurchaseCommitmentRelatedToVivusSettlement
694314
ptpi Noncash Decrease In Other Current Assets Api Purchase Commitment
NoncashDecreaseInOtherCurrentAssetsApiPurchaseCommitment
-30330
ptpi Noncash Issuance Of Common Stock To Non Employee
NoncashIssuanceOfCommonStockToNonEmployee
3
ptpi Noncash Initial Fair Value Of Warrant Liability Pursuant To Private Placement
NoncashInitialFairValueOfWarrantLiabilityPursuantToPrivatePlacement
21544000
ptpi Noncash Initial Fair Value Of Derivative Liability Pursuant To Private Placement
NoncashInitialFairValueOfDerivativeLiabilityPursuantToPrivatePlacement
6140000
ptpi Noncash Redemption Of Series Convertible Preferred Stock
NoncashRedemptionOfSeriesConvertiblePreferredStock
6586033
ptpi Accrued Series Convertible Preferred Payments Payable
AccruedSeriesConvertiblePreferredPaymentsPayable
1742918
ptpi Accrued Series Convertible Preferred Payments Payable
AccruedSeriesConvertiblePreferredPaymentsPayable
1368546
ptpi Accretion Of Series Convertible Preferred Stock To Redemption Value
AccretionOfSeriesConvertiblePreferredStockToRedemptionValue
9099230
ptpi Accretion Of Series Convertible Preferred Stock To Redemption Value
AccretionOfSeriesConvertiblePreferredStockToRedemptionValue
1153846
ptpi Accrual Of Series Convertible Preferred Stock Dividends
AccrualOfSeriesConvertiblePreferredStockDividends
991783
ptpi Accrual Of Series Convertible Preferred Stock Dividends
AccrualOfSeriesConvertiblePreferredStockDividends
339232
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3900000
CY2024Q3 ptpi Working Capital
WorkingCapital
1800000
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-103900000
us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
7200000
CY2023Q3 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
15000000
CY2024Q2 ptpi Consecutive Business Days For Maintaining Bid Price Requirement
ConsecutiveBusinessDaysForMaintainingBidPriceRequirement
30
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting periods. Such estimates include the adequacy of accounts receivable reserves, return reserves, inventory reserves, assessment of long-lived assets, including intangible asset impairment, and the valuation of the derivative liability, among others. Actual results could differ from these estimates and changes in these estimates are recorded when known.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">Concentration of Credit Risk</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">Financial instruments that subject the Company to concentrations of credit risk includes cash. The Company maintains cash on deposit at U.S.-based banks in amounts which, at times, may be in excess of insured limits of $250,000.</p>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2024Q3 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
5300000
CY2023Q4 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
4200000
ptpi Amount Of Returns As Reduction Of Gross Revenue
AmountOfReturnsAsReductionOfGrossRevenue
1200000
ptpi Amount Of Returns As Reduction Of Gross Revenue
AmountOfReturnsAsReductionOfGrossRevenue
1300000
CY2024Q3 ptpi Amount Of Returns As Reduction Of Gross Revenue
AmountOfReturnsAsReductionOfGrossRevenue
400000
CY2023Q3 ptpi Amount Of Returns As Reduction Of Gross Revenue
AmountOfReturnsAsReductionOfGrossRevenue
500000
CY2024Q3 us-gaap Deferred Revenue
DeferredRevenue
100000
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
100000
CY2024Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
2299300
CY2023Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
2887317
CY2024Q3 ptpi Accounts Receivable Distribution Service Fees
AccountsReceivableDistributionServiceFees
114073
CY2023Q4 ptpi Accounts Receivable Distribution Service Fees
AccountsReceivableDistributionServiceFees
398968
CY2024Q3 ptpi Accounts Receivable Chargebacks Accruals
AccountsReceivableChargebacksAccruals
2946
CY2023Q4 ptpi Accounts Receivable Chargebacks Accruals
AccountsReceivableChargebacksAccruals
2462
CY2024Q3 ptpi Accounts Receivable Cash Discount Allowances
AccountsReceivableCashDiscountAllowances
26066
CY2023Q4 ptpi Accounts Receivable Cash Discount Allowances
AccountsReceivableCashDiscountAllowances
24639
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
207602
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
235097
CY2024Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
1948613
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
2226151
CY2024Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1257152
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1430139
CY2024Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
148499
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
180252
CY2024Q3 us-gaap Inventory Net
InventoryNet
1405651
CY2023Q4 us-gaap Inventory Net
InventoryNet
1610391
CY2024Q3 ptpi Inventory Finished Goods Valuation Reserves
InventoryFinishedGoodsValuationReserves
260356
CY2023Q4 ptpi Inventory Finished Goods Valuation Reserves
InventoryFinishedGoodsValuationReserves
295411
CY2024Q3 us-gaap Prepaid Insurance
PrepaidInsurance
94030
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
45664
CY2023Q4 ptpi Prepaid Food And Drug Administration Fee Current
PrepaidFoodAndDrugAdministrationFeeCurrent
937652
CY2024Q3 ptpi Prepaid Research And Development Expenses Current
PrepaidResearchAndDevelopmentExpensesCurrent
208900
CY2023Q4 ptpi Prepaid Research And Development Expenses Current
PrepaidResearchAndDevelopmentExpensesCurrent
115755
CY2024Q3 ptpi Prepaid Purchase Commitment Asset Current
PrepaidPurchaseCommitmentAssetCurrent
1417348
CY2023Q4 ptpi Prepaid Purchase Commitment Asset Current
PrepaidPurchaseCommitmentAssetCurrent
704729
CY2024Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
101281
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
118704
CY2024Q3 us-gaap Other Assets Current
OtherAssetsCurrent
4760
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
111476
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1826319
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2033980
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12244484
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3272747
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8971737
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2145850
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6825887
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
654774
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1754329
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1442186
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1212871
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
996636
CY2024Q3 ptpi Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
765091
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6825887
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2500000
CY2024Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
700000
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
800000
CY2024Q3 ptpi Accrued Product Returns
AccruedProductReturns
5299261
CY2023Q4 ptpi Accrued Product Returns
AccruedProductReturns
4178176
CY2024Q3 ptpi Accrued Contract Rebates
AccruedContractRebates
96465
CY2023Q4 ptpi Accrued Contract Rebates
AccruedContractRebates
128562
CY2024Q3 ptpi Due To Third Party Logistic Provider
DueToThirdPartyLogisticProvider
62284
CY2023Q4 ptpi Due To Third Party Logistic Provider
DueToThirdPartyLogisticProvider
75727
CY2024Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
501988
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
665184
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
15000
CY2024Q3 ptpi Accrued Research And Development Fee Current
AccruedResearchAndDevelopmentFeeCurrent
354908
CY2023Q4 ptpi Accrued Research And Development Fee Current
AccruedResearchAndDevelopmentFeeCurrent
100668
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
224465
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
196760
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6539371
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5360077
CY2024Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
10201758
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
509133
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.75
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y5M15D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
66000
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
509133
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.75
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M15D
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
454600
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.15
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y7M24D
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
197215
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
204492
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
0
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
30840
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
8203839
CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
14.93
CY2023 ptpi Class Of Warrant Or Right Remaining Contractual Term
ClassOfWarrantOrRightRemainingContractualTerm
P4Y3M18D
ptpi Class Of Warrant Or Right Expired
ClassOfWarrantOrRightExpired
-15097
ptpi Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Expired
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsExpired
-252.53
CY2024Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
8188742
CY2024Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
14.49
ptpi Class Of Warrant Or Right Remaining Contractual Term
ClassOfWarrantOrRightRemainingContractualTerm
P3Y6M
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9258046
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15176274
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9258046
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15176274
CY2024Q3 ptpi Percentage Of Project Work Completed Under Research Contract
PercentageOfProjectWorkCompletedUnderResearchContract
0.91
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4386640
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
947946
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7299391
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2513105
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2175126
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3550000
us-gaap Interest Income Operating
InterestIncomeOperating
347028
ptpi Interest Expense On Promissory Notes
InterestExpenseOnPromissoryNotes
393450
us-gaap Net Income Loss
NetIncomeLoss
-5045350
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6186638
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1473073
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6382166
ptpi Warrants Issuance Costs
WarrantsIssuanceCosts
2855000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1574760
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2480385
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-430000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-11739000
us-gaap Interest Income Operating
InterestIncomeOperating
287722
ptpi Interest Expense On Promissory Notes
InterestExpenseOnPromissoryNotes
410317
ptpi Loss On Issuance Of Preferred Stock
LossOnIssuanceOfPreferredStock
-11088997
us-gaap Net Income Loss
NetIncomeLoss
-8481338
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1576366
CY2024Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
287005
CY2024Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2301305
CY2024Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
588355
CY2024Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
739449
CY2024Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
202000
CY2024Q3 us-gaap Interest Income Operating
InterestIncomeOperating
75817
CY2024Q3 ptpi Interest Expense On Promissory Notes
InterestExpenseOnPromissoryNotes
158730
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-2220661
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1674657
CY2023Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
408475
CY2023Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2001935
CY2023Q3 ptpi Warrants Issuance Costs
WarrantsIssuanceCosts
2855000
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
389093
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
826795
CY2023Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-430000
CY2023Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-11739000
CY2023Q3 us-gaap Interest Income Operating
InterestIncomeOperating
168481
CY2023Q3 ptpi Interest Expense On Promissory Notes
InterestExpenseOnPromissoryNotes
131351
CY2023Q3 ptpi Loss On Issuance Of Preferred Stock
LossOnIssuanceOfPreferredStock
-11088997
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-4549508
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1576366
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1674657
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4386640
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6186638
CY2024Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
6825887
CY2024Q3 us-gaap Assets
Assets
20693630
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
8971737
CY2023Q4 us-gaap Assets
Assets
33795795
CY2023Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.25
CY2023Q4 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
348711
CY2023Q4 ptpi Issuance Exceeded Percentage Limit On Common Stock Issued And Outstanding
IssuanceExceededPercentageLimitOnCommonStockIssuedAndOutstanding
0.05
CY2024Q3 us-gaap Embedded Derivative Liability Measurement Input
EmbeddedDerivativeLiabilityMeasurementInput
0.125
CY2024Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
453359
CY2024Q3 ptpi Temporary Equity Dividends At Stated Rate
TemporaryEquityDividendsAtStatedRate
236821
CY2024Q3 ptpi Reversal Of Temporary Equity Dividends At Stated Value
ReversalOfTemporaryEquityDividendsAtStatedValue
216538
us-gaap Dividends Preferred Stock
DividendsPreferredStock
1265662
ptpi Temporary Equity Dividends At Stated Rate
TemporaryEquityDividendsAtStatedRate
991783
ptpi Reversal Of Temporary Equity Dividends At Stated Value
ReversalOfTemporaryEquityDividendsAtStatedValue
273879
CY2023Q3 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
1153846
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6042586
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.85
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.85
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
1153846
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9974416
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.73
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.73
ptpi Accretion Of Series Convertible Preferred Stock To Redemption Value
AccretionOfSeriesConvertiblePreferredStockToRedemptionValue
1153846

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