$TARA

PROTEON THERAPEUTICS INC

CIK:0001359931|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 16,955	$ 10,770	$ 30,517	$ 19,918
General and administrative	6,369	5,816	12,436	10,792
Total operating expenses	23,324	16,586	42,953	30,710
Income (Loss) from operations	(23,324)	(16,586)	(42,953)	(30,710)
Other income (expense), net:
Interest and investment income (expense)	1,656	1,626	3,503	3,355
Other income (expense)				481
Other income (expense), net	1,656	1,626	3,503	3,836
Net income (loss)	(21,668)	(14,960)	(39,450)	(26,874)
Other comprehensive income (loss):
Net unrealized gain (loss) on marketable debt securities	1	(12)	(453)	75
Other comprehensive income (loss)	1	(12)	(453)	75
Comprehensive income (loss)	$ (21,667)	$ (14,972)	$ (39,903)	$ (26,799)
Net income (loss) per share attributable to common stockholders, basic (in Dollars per share)	$ (0.36)	$ (0.35)	$ (0.67)	$ (0.65)
Net income (loss) per share attributable to common stockholders, diluted (in Dollars per share)	$ (0.36)	$ (0.35)	$ (0.67)	$ (0.65)
Weighted-average shares outstanding, basic (in Shares)	61,006,766	42,270,855	59,282,380	41,493,714
Weighted-average shares outstanding, diluted (in Shares)	61,006,766	42,270,855	59,282,380	41,493,714

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ (39,450)	$ (26,874)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Stock-based compensation	2,746	1,736
Operating lease right-of-use asset	572	530
Depreciation	162	181
Amortization of premium (Accretion of discount) on marketable debt securities	(359)	(532)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	704	(1,012)
Other assets	(2,970)	204
Accounts payable	1,332	1,484
Accrued expenses and other current liabilities	1,141	(2,145)
Operating lease liabilities	(610)	(535)
Net cash provided by (used in) operating activities	(36,732)	(26,963)
Cash flows from investing activities:
Purchase of marketable debt securities	(63,090)	(117,511)
Proceeds from maturity and redemption of marketable debt securities	66,455	11,500
Purchase of property and equipment	(332)	(66)
Net cash provided by (used in) investing activities	3,033	(106,077)
Cash flows from financing activities:
Proceeds from exercise of Underwriters’ Option in December 2024 Public Offering, net of offering costs of $214		2,528
Offering costs paid in connection with public offerings	(526)	(614)
Taxes paid related to net share settlement of restricted stock units	(298)	(185)
Proceeds from exercise of stock options		8
Net cash provided by (used in) financing activities	1,118	1,738
Net increase (decrease) in cash and cash equivalents and restricted cash	(32,581)	(131,302)
Cash and cash equivalents and restricted cash - beginning of period	50,402	163,543
Cash and cash equivalents and restricted cash - end of period	17,821	32,241
Supplemental disclosure of non-cash investing and financing activities:
Proceeds from exercise of stock options included in other current assets and additional paid-in-capital	412
Purchase of property and equipment included in accounts payable and property and equipment	389
Reconciliation of cash and cash equivalents and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	17,076	31,496
Restricted cash, non-current	745	745
Cash and cash equivalents and restricted cash	17,821	32,241
Pre-funded Warrants
Cash flows from financing activities:
Proceeds from exercise of warrants		1
Common Warrants
Cash flows from financing activities:
Proceeds from exercise of warrants	$ 1,942

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 17,076	$ 49,657
Marketable debt securities	125,418	105,897
Prepaid expenses and other current assets	3,658	3,950
Total current assets	146,152	159,504
Restricted cash, non-current	745	745
Marketable debt securities, non-current	19,356	42,336
Property and equipment, net	1,318	759
Operating lease right-of-use asset	2,602	3,174
Other assets	5,920	2,950
Total assets	176,093	209,468
Current liabilities:
Accounts payable	4,663	3,468
Accrued expenses and other current liabilities	7,370	6,229
Operating lease liability	1,286	1,242
Total current liabilities	13,319	10,939
Operating lease liability, non-current	1,463	2,117
Total liabilities	14,782	13,056
Commitments and contingencies (Note 9)
Stockholders’ Equity:
Series 1 Convertible Preferred Stock, 8,028 shares authorized at June 30, 2026 and December 31, 2025, 872 and 5,615 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
Common stock, 59,083,935 and 53,587,260 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	59	54
Additional paid-in capital	503,484	498,687
Accumulated deficit	(341,869)	(302,419)
Accumulated other comprehensive income (loss)	(363)	90
Total stockholders’ equity	161,311	196,412
Total liabilities and stockholders’ equity	$ 176,093	$ 209,468