$TARA
Protara Therapeutics, Inc.

2016 Q3 Form 10-Q Financial Statement

#000117184316012987 Filed on November 07, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.320M $2.000M
YoY Change 16.0% 92.31%
% of Gross Profit
Research & Development $4.842M $3.078M
YoY Change 57.31% 73.6%
% of Gross Profit
Depreciation & Amortization $40.00K $10.00K
YoY Change 300.0% 0.0%
% of Gross Profit
Operating Expenses $7.166M $5.082M
YoY Change 41.01% 80.6%
Operating Profit -$7.166M -$5.082M
YoY Change 41.01% -3892.54%
Interest Expense $50.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net $59.00K -$301.0K
YoY Change -119.6% -94.34%
Pretax Income -$7.110M -$5.380M
YoY Change 32.16% 3.86%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$7.107M -$5.383M
YoY Change 32.03% 3.9%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$17.34M -$13.12M
COMMON SHARES
Basic Shares Outstanding 16.58M 16.46M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $47.00M $70.50M
YoY Change -33.33% 224.88%
Cash & Equivalents $26.68M $35.98M
Short-Term Investments $20.30M $34.60M
Other Short-Term Assets $1.700M $800.0K
YoY Change 112.5% 300.0%
Inventory
Prepaid Expenses $829.0K
Receivables
Other Receivables
Total Short-Term Assets $48.72M $71.38M
YoY Change -31.74% 225.92%
LONG-TERM ASSETS
Property, Plant & Equipment $396.0K $221.0K
YoY Change 79.19% 121.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $276.0K $686.0K
YoY Change -59.77% -68.82%
Total Long-Term Assets $672.0K $907.0K
YoY Change -25.91% -60.57%
TOTAL ASSETS
Total Short-Term Assets $48.72M $71.38M
Total Long-Term Assets $672.0K $907.0K
Total Assets $49.40M $72.28M
YoY Change -31.67% 198.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $591.0K $591.0K
YoY Change 0.0% -40.9%
Accrued Expenses $4.186M $2.235M
YoY Change 87.29% 39.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.942M $3.168M
YoY Change 56.0% 17.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $84.00K
YoY Change -99.29%
Total Long-Term Liabilities $0.00 $84.00K
YoY Change -100.0% -99.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.942M $3.168M
Total Long-Term Liabilities $0.00 $84.00K
Total Liabilities $4.942M $3.252M
YoY Change 51.97% -77.73%
SHAREHOLDERS EQUITY
Retained Earnings -$152.8M -$124.9M
YoY Change 22.34%
Common Stock $17.00K $16.00K
YoY Change 6.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $44.45M $69.03M
YoY Change
Total Liabilities & Shareholders Equity $49.40M $72.28M
YoY Change -31.67% 198.69%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$7.107M -$5.383M
YoY Change 32.03% 3.9%
Depreciation, Depletion And Amortization $40.00K $10.00K
YoY Change 300.0% 0.0%
Cash From Operating Activities -$6.650M -$3.910M
YoY Change 70.08% 5.39%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K -$130.0K
YoY Change -53.85% 1200.0%
Acquisitions
YoY Change
Other Investing Activities -$850.0K $23.19M
YoY Change -103.67% -1480.36%
Cash From Investing Activities -$900.0K $23.06M
YoY Change -103.9% -1472.62%
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 40.00K
YoY Change -50.0% -500.0%
NET CHANGE
Cash From Operating Activities -6.650M -3.910M
Cash From Investing Activities -900.0K 23.06M
Cash From Financing Activities 20.00K 40.00K
Net Change In Cash -7.530M 19.19M
YoY Change -139.24% -455.37%
FREE CASH FLOW
Cash From Operating Activities -$6.650M -$3.910M
Capital Expenditures -$60.00K -$130.0K
Free Cash Flow -$6.590M -$3.780M
YoY Change 74.34% 2.16%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
prto Foreign Currency Remeasurement Gain Loss
ForeignCurrencyRemeasurementGainLoss
6000
CY2016Q3 us-gaap Assets Current
AssetsCurrent
48723000
prto Foreign Currency Remeasurement Gain Loss
ForeignCurrencyRemeasurementGainLoss
-29000
prto Proceeds From Issuance Of Common Stock Under Espp
ProceedsFromIssuanceOfCommonStockUnderESPP
5000
prto Proceeds From Issuance Of Common Stock Under Espp
ProceedsFromIssuanceOfCommonStockUnderESPP
52000
CY2016Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
591000
CY2015Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1020000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-108000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-580000
CY2016Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4186000
CY2015Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2576000
CY2015Q4 us-gaap Assets Current
AssetsCurrent
66608000
CY2016Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
8000
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-11000
CY2016Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
197310000
CY2015Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
194651000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
687000
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
611000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2499000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1494000
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2180530
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1801359
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2180530
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1801359
CY2016Q3 us-gaap Assets
Assets
49395000
CY2015Q4 us-gaap Assets
Assets
67538000
CY2016Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
38414000
CY2015Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
64465000
CY2016Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
20288000
CY2015Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
25243000
CY2016Q3 us-gaap Available For Sale Securities
AvailableForSaleSecurities
20296000
CY2015Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
25232000
CY2016Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
8000
CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2016Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
12000
CY2016Q3 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
20296000
CY2015Q4 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
25232000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26678000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
40031000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68840000
CY2015Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35983000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-13353000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-32857000
CY2016Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
47000000
CY2016Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3295851
CY2015Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2717260
CY2016Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2016Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
16582999
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
16501500
CY2016Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
16582999
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
16501500
CY2016Q3 us-gaap Common Stock Value
CommonStockValue
17000
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
16000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7109000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-5380000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-21545000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15023000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
87000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
139000
CY2015Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
14000
CY2016Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
14000
CY2016Q3 us-gaap Liabilities
Liabilities
4942000
CY2015Q4 us-gaap Liabilities
Liabilities
4133000
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.43
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.33
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.30
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.91
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
6000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-29000
CY2016Q3 us-gaap Foreign Currency Contracts Liability Fair Value Disclosure
ForeignCurrencyContractsLiabilityFairValueDisclosure
98000
CY2015Q4 us-gaap Foreign Currency Contracts Liability Fair Value Disclosure
ForeignCurrencyContractsLiabilityFairValueDisclosure
537000
CY2016Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-2000
CY2015Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-314000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
119000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-440000
CY2016Q3 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-4000
CY2015Q3 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-8000
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-14000
CY2016Q3 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
2000
CY2015Q3 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-314000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
127000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-426000
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2324000
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2004000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7407000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5882000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
869000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
488000
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-46000
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
214000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
20000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
181000
CY2016Q3 us-gaap Investment Income Net
InvestmentIncomeNet
46000
CY2015Q3 us-gaap Investment Income Net
InvestmentIncomeNet
34000
us-gaap Investment Income Net
InvestmentIncomeNet
155000
us-gaap Investment Income Net
InvestmentIncomeNet
111000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
136000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-12380000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-21564000
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
49395000
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
67538000
CY2016Q3 us-gaap Liabilities Current
LiabilitiesCurrent
4942000
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
4133000
CY2016Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
98000
CY2015Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
537000
CY2016Q3 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
14000
CY2015Q4 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
14000
us-gaap Nature Of Operations
NatureOfOperations
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellspacing="0" cellpadding="0" style="; font-size: 10pt; width: 700px;"> <tr style="vertical-align: top"> <td style="width: 24px"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">1.</div></div></td> <td><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Organization and Operations&nbsp;</div></div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">&nbsp;</div></div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">The Company</div></div></div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">&nbsp;</div></div></div> <div style=" font-size: 10pt; text-align: justify; text-indent: 27pt; margin: 0pt 0">Proteon Therapeutics, Inc. (the &#x201c;Company&#x201d;) is a late-stage biopharmaceutical company focused on the development of novel, first-in-class pharmaceuticals to address the medical needs of patients with kidney and vascular disease. The Company was formed in June 2001 and incorporated on March 24, 2006. Since inception, the Company has devoted substantially all of its efforts to product research and development, initial market development and raising capital. The Company has not generated any product revenue related to its primary business purpose to date and is subject to a number of risks similar to those of other development stage companies, including dependence on key individuals, competition from other companies, the need for development of commercially viable products and the need to obtain adequate additional financing to fund the development of its product candidates. The Company is also subject to a number of risks similar to other companies in the biotechnology industry, including regulatory approval of products, uncertainty of market acceptance of products, competition from substitute products and larger companies, the need to obtain additional financing, compliance with government regulations, protection of proprietary technology, dependence on third parties, product liability and dependence on key individuals.</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 27pt; margin: 0pt 0">On April 20, 2016, the Company formed a wholly-owned holding company in Delaware, Proteon International Holdings, Inc. (&#x201c;Proteon International&#x201d;). On May 4, 2016, Proteon International formed a wholly-owned subsidiary company in Bermuda, Proteon Bermuda Limited (&#x201c;Proteon Bermuda&#x201d;). On June 2, 2016, Proteon Bermuda formed a wholly-owned subsidiary company in Ireland, Proteon Ireland Limited.</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 27pt; margin: 0pt 0">As of September 30, 2016, the Company had cash, cash equivalents and available-for-sale investments of $47.0 million. The Company believes that its existing cash, cash equivalents and available-for-sale investments will be sufficient to fund operations and capital expenditures into the fourth quarter of 2017. The Company had an accumulated deficit of $152.8 million as of September 30, 2016.</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 27pt; margin: 0pt 0">On November 12, 2015, the Company filed a shelf registration statement on Form S-3 (the &#x201c;Registration Statement&#x201d;), and entered into a Sales Agreement with Cowen and Company, LLC (the &quot;Sales Agreement&quot;) to establish an at-the-market (&#x201c;ATM&#x201d;) equity offering program pursuant to which they are able, with the Company&#x2019;s authorization, to offer and sell up to $40 million of the Company&#x2019;s Common Stock at prevailing market prices from time to time. The Registration Statement became effective on January 12, 2016. As of September 30, 2016, the Company had not commenced sales under this program.</div></div>
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
161000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
101000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
4588000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-20549000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-18108000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-7107000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-5383000
us-gaap Net Income Loss
NetIncomeLoss
-21564000
us-gaap Net Income Loss
NetIncomeLoss
-15035000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7107000
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5383000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-15035000
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
59000
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-301000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
275000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-352000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
7166000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
5082000
us-gaap Operating Expenses
OperatingExpenses
21839000
us-gaap Operating Expenses
OperatingExpenses
14683000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-7166000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-5082000
us-gaap Operating Income Loss
OperatingIncomeLoss
-21839000
us-gaap Operating Income Loss
OperatingIncomeLoss
-14683000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
294000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
84000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
168000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
42000
CY2016Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
276000
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
706000
CY2016Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-2000
CY2015Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
3000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
19000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
12000
CY2016Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
98000
CY2015Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
537000
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
13000
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-335000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
120000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-463000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
39756000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
66136000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
259000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
171000
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2016Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1749000
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1345000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
44603000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
43752000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
2006000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
156000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
49000
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
396000
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
224000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4842000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3078000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14432000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8801000
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-152815000
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-131251000
CY2016Q3 us-gaap Security Deposit
SecurityDeposit
14000
us-gaap Share Based Compensation
ShareBasedCompensation
2499000
us-gaap Share Based Compensation
ShareBasedCompensation
1494000
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1055385
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.81
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
69089
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
119162
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
15705000
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5814000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2200369
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2169617
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.52
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.50
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
5697000
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2033481
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
8.29
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.91
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
14.12
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.90
CY2016Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4619000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y292D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y292D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y109D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y73D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
80825
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
44453000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
63405000
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16582276
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16466945
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16550483
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16455257

Files In Submission

Name View Source Status
0001171843-16-012987-index-headers.html Edgar Link pending
0001171843-16-012987-index.html Edgar Link pending
0001171843-16-012987.txt Edgar Link pending
0001171843-16-012987-xbrl.zip Edgar Link pending
exh_311.htm Edgar Link pending
exh_312.htm Edgar Link pending
exh_321.htm Edgar Link pending
f10q_110716p.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
prto-20160930.xml Edgar Link completed
prto-20160930.xsd Edgar Link pending
prto-20160930_cal.xml Edgar Link unprocessable
prto-20160930_def.xml Edgar Link unprocessable
prto-20160930_lab.xml Edgar Link unprocessable
prto-20160930_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending