Business Context and Reporting Period
This Form 8-K Current Report was filed by Proteon Therapeutics, Inc. (PRTO) on October 7, 2019. The company is a Delaware corporation and an emerging growth company. The report addresses a change in the listing status of the company's common stock.
Key Financial Metrics
The filing references specific financial data from the company's most recent Form 10-Q for the quarter ended June 30, 2019:
- Stockholders' Equity: $9,477,000
- Nasdaq Global Market Minimum Equity Requirement: $10,000,000
The filing does not provide current period revenue, profit, cash flow, margins, debt, or liquidity metrics beyond the referenced equity figure.
Material Changes
Effective as of the open of business on October 7, 2019, the company's common stock was transferred from The Nasdaq Global Market to The Nasdaq Capital Market. This transfer occurred because the company's stockholders' equity of $9,477,000 fell below the $10,000,000 minimum required for continued listing on The Nasdaq Global Market under Listing Rule 5450(b)(1)(A). The stock continues to trade under the symbol "PRTO."
Outlook and Risks
The filing notes that companies listed on The Nasdaq Capital Market must meet certain financial requirements and comply with Nasdaq's corporate governance requirements. No specific forward-looking guidance, management commentary on future operations, or new risk factors were disclosed in this specific report beyond the listing transfer.
Investor Verification Checklist
- Verify the current trading status and symbol (PRTO) on The Nasdaq Capital Market.
- Review the Form 10-Q for the quarter ended June 30, 2019, to confirm the $9,477,000 stockholders' equity figure.
- Monitor future filings for updates on the company's ability to meet The Nasdaq Capital Market's financial requirements.
- Check for any subsequent 8-K filings regarding potential delisting or further listing changes.