Proteon Therapeutics Announces Third Quarter 2016 Financial Results

WALTHAM, Mass., Nov. 07, 2016 (GLOBE NEWSWIRE) -- Proteon Therapeutics, Inc. (Nasdaq:PRTO), a company developing novel, first-in-class therapeutics to address the medical needs of patients with kidney and vascular diseases, today announced its financial results for the quarter ended September 30, 2016, and recent business highlights. 

"We are making strong progress in our Phase 3 program for investigational vonapanitase," said Timothy Noyes, President and Chief Executive Officer of Proteon. "PATENCY-1 top-line results are expected in December, and our second Phase 3 trial, PATENCY-2, is on track to complete patient enrollment in the first quarter of 2017."

Recent Highlights for 2016

Overview of Phase 1 clinical program of vonapanitase in peripheral artery disease (PAD) presented at the 28th Transcatheter Cardiovascular Therapeutics (TCT) Conference. Dr. Ehrin J. Armstrong, Associate Professor, Medicine-Cardiology at University of Colorado School of Medicine and Director, Interventional Cardiology VA Eastern Colorado Healthcare System, discussed Proteon's two additional Phase 1 clinical studies evaluating vonapanitase in patients with PAD. These multicenter, dose-escalation studies will evaluate the safety and technical feasibility of a single administration of vonapanitase as a monotherapy and as an adjunct to angioplasty for patients with PAD.

Board of Directors strengthened with additional operating and leadership expertise. Proteon strengthened its Board of Directors with the appointment of Paul J. Hastings as Chairman. Paul brings substantial experience in the board room having been a lead director and/or chairman at multiple biotechnology companies. He also brings significant operational and commercial experience, having successfully led several biotechnology companies as their chief executive officer. 

If you liked this article you might like

Biotech Movers: Depomed Shares Tank After Losses Get Even Worse

These 5 Stocks Under $10 Could Make You a Lot of Money

7 Stocks Under $10 to Trade for Big Post-Brexit Gains