Proteon Therapeutics, Inc. (PRTO) files 8-K

Proteon Therapeutics, Inc. (NASDAQ:PRTO) Logo

Proteon Therapeutics, Inc. (PRTO) files 8-K in a filing on Aug 15, 2019.

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On August 12, 2019, Proteon Therapeutics, Inc. (the ‘Company’) received a letter from The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that the Company’s stockholders’ equity as reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 of $9,477,000 does not satisfy the Nasdaq Global Market continued listing requirement set forth in Nasdaq Stock Market Rule 5450(b)(1)(A), which requires companies listed on the Nasdaq Global Market to maintain a minimum of $10,000,000 in stockholders’ equity. The Nasdaq notification letter has no immediate effect on the listing of the Company’s common stock, and its common stock will continue to trade on the Nasdaq Global Market under the symbol ‘PRTO’ at this time.

The Company has 45 calendar days from the date of the Nasdaq notification letter to submit to Nasdaq a plan to regain compliance with the Nasdaq Stock Market Rule 5450(b)(1)(A). The Company currently anticipates timely submitting such a plan to Nasdaq. If the Company’s plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the Nasdaq notification letter for the Company to provide evidence of compliance. If the plan is not accepted or the Company is not granted an extension, the Company will then consider actions appropriate to the circumstances, which may include applicable appeals to a Nasdaq Listing Qualifications Panel.

There can be no assurance that the Company will be able to regain compliance with the Rule.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

The stock increased 0.14% or $0.0004 during the last trading session, reaching $0.2854. About 72,611 shares traded. Proteon Therapeutics, Inc. (NASDAQ:PRTO) has declined 83.18% since August 16, 2018 and is downtrending. It has underperformed by 83.18% the S&P500.

Proteon Therapeutics, Inc., a late-stage biopharmaceutical company, focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. The company has market cap of $5.59 million. The Company’s lead product candidate is vonapanitase, an investigational drug intended to enhance hemodialysis vascular access outcomes. It currently has negative earnings. The firm develops vonapanitase, a recombinant human elastase, which has completed Phase II and Phase III clinical trials for patients with chronic kidney disease.

Investors sentiment decreased to 0.58 in Q1 2019. Its down 0.80, from 1.38 in 2018Q4. It dived, as 11 investors sold Proteon Therapeutics, Inc. shares while 1 reduced holdings. 4 funds opened positions while 3 raised stakes. 4.48 million shares or 47.91% less from 8.59 million shares in 2018Q4 were reported.
Deer Vii & stated it has 0.5% in Proteon Therapeutics, Inc. (NASDAQ:PRTO). Morgan Stanley stated it has 10,037 shares or 0% of all its holdings. Two Sigma Secs Ltd Co has invested 0% in Proteon Therapeutics, Inc. (NASDAQ:PRTO). Northern Tru Corporation owns 0% invested in Proteon Therapeutics, Inc. (NASDAQ:PRTO) for 17,173 shares. Blackrock reported 37,614 shares. 32,340 were accumulated by Geode Cap Lc. 233,953 were accumulated by Vanguard Grp. Raymond James Services holds 11,500 shares. Abingworth Llp has 2.02 million shares for 0.9% of their portfolio. Renaissance Technologies Lc holds 0% or 455,744 shares in its portfolio. 10,000 were reported by Mariner Llc.

Proteon Therapeutics, Inc. (NASDAQ:PRTO) Ratings Coverage

Among 4 analysts covering Proteon (NASDAQ:PRTO), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Proteon has $5 highest and $1 lowest target. $3.50’s average target is 1126.35% above currents $0.2854 stock price. Proteon had 6 analyst reports since March 7, 2019 according to SRatingsIntel. H.C. Wainwright maintained Proteon Therapeutics, Inc. (NASDAQ:PRTO) on Monday, March 18 with “Buy” rating. The rating was maintained by Robert W. Baird on Friday, March 29 with “Neutral”. The firm has “Buy” rating by Maxim Group given on Thursday, March 7. The company was maintained on Thursday, March 14 by Stifel Nicolaus.

More notable recent Proteon Therapeutics, Inc. (NASDAQ:PRTO) news were published by: Globenewswire.com which released: “Proteon Therapeutics Announces Second Quarter 2019 Financial Results – GlobeNewswire” on August 07, 2019, also Finance.Yahoo.com with their article: “Those Who Purchased Proteon Therapeutics (NASDAQ:PRTO) Shares Three Years Ago Have A 95% Loss To Show For It – Yahoo Finance” published on July 11, 2019, Benzinga.com published: “The Daily Biotech Pulse: Glaukos To Buy Avedro, Mixed Adcom Vote For Gilead, Dynavax Offering – Benzinga” on August 08, 2019. More interesting news about Proteon Therapeutics, Inc. (NASDAQ:PRTO) were released by: Benzinga.com and their article: “The Daily Biotech Pulse: Sanofi’s Dupixent Found Effective For Pediatric Itchy Skin, Novavax Gets Nod For Late-Stage Study, Allakos Offering – Benzinga” published on August 06, 2019 as well as Seekingalpha.com‘s news article titled: “Proteon’s vonapanitase flunks second late-stage study – Seeking Alpha” with publication date: March 28, 2019.

Proteon Therapeutics, Inc. (NASDAQ:PRTO) Institutional Positions Chart

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