Organization and Business Activities	3 Months Ended
Mar. 31, 2017
Organization and Business Activities
Organization and Business Activities	1. Organization and Business Activities Nabriva Therapeutics AG, together with its 100% owned and consolidated U.S. subsidiary Nabriva Therapeutics US, Inc. and 100% owned and consolidated Irish subsidiary Nabriva Therapeutics Ireland DAC, (“Nabriva”, “the Group” or the “Company”) is a clinical stage biopharmaceutical company engaged in the research and development of novel anti-infective agents to treat serious infections, with a focus on the pleuromutilin class of antibiotics. Nabriva was incorporated in Austria as a spin-off from Sandoz GmbH in October 2005 and commenced operations in February 2006. The Company’s headquarters are at Leberstrasse 20, 1110 Vienna Austria. Nabriva Therapeutics US, Inc. was founded and began operations in the United States in August 2014. In February 2017, the Company purchased all shares issued in the capital of Hyacintho DAC, a designated activity company incorporated by a nominee company in December 2016 and renamed the company to Nabriva Therapeutics Ireland DAC on April 10, 2017. Liquidity Since its inception, the Company incurred net losses and generated negative cash flows from its operations. To date, it has financed its operations through the sale of equity securities, including its initial public offering of ADSs and private placements of its common shares, convertible debt financings and research and development support from governmental grants and loans. As of March 31, 2017, the Company had cash and cash equivalents and short term investments of $68.2 million. On December 19, 2016, the Company completed a rights offering and a related underwritten offering for the sale of an aggregate of 588,127 common shares resulting in aggregate gross proceeds of approximately $24.8 million and net proceeds to the Company of approximately $20.6 million, after deducting underwriting fees and offering expenses. On September 23, 2015 the Company completed its initial public offering on the NASDAQ Global Market issuing 9,000,000 ADSs at a price to the public of $10.25 per ADS, representing 900,000 of its common shares. Each ADS represents one tenth of a common share. On September 30, 2015 the underwriters of its initial public offering exercised in full their over-allotment option to purchase an additional 1,350,000 ADSs, representing 135,000 common shares, at the initial public offering price of $10.25 per ADS, less underwriting discounts. Including the over-allotment ADSs, the Company sold an aggregate of 10,350,000 ADSs representing 1,035,000 common shares, in its initial public offering, which resulted in gross proceeds of approximately $106.1 million and net proceeds to the Company of approximately $92.4 million, after deducting underwriting discounts and offering expenses. The Company believes that its existing cash, cash equivalents and short-term investments will be sufficient to enable it to fund its operating expenses and capital expenditure requirements into the second quarter of 2018.The Company has based this estimate on assumptions that may prove to be wrong, and the Company could use its capital resources sooner than it currently expects. While the Company has raised capital in the past, the ability to raise capital in future periods is not considered probable, as defined under the accounting standards. As such, under the requirements of ASC 205-40, management may not consider the potential for future capital raises in their assessment of the Company’s ability to meet its obligations for the next twelve months. This estimate assumes, among other things, that the Company does not obtain any additional funding through grants and clinical trial support, collaboration agreements or debt financings. As such, in the event necessary, the Company believes it has the ability to elect to forego certain discretionary costs in order to reduce its requirement for cash and to maintain its operations for more than twelve months following the issuance of this report. If the Company is unable to raise capital when needed or on attractive terms, it could be forced to delay, reduce or eliminate its research and development programs or any future commercialization effort. Based on current projections, the company anticipates availability of top-line clinical data from LEAP 1, its first Phase 3 clinical trial of lefamulin for community-acquired bacterial pneumonia (“CABP”), in the third quarter of 2017. In addition, the Company expects to complete patient enrollment for LEAP 2, its second Phase 3 clinical trial of lefamulin for CABP, in the fourth quarter of 2017 and anticipates availability of top-line data for LEAP 2 in the first quarter of 2018.

1. Organization and Business Activities

Nabriva Therapeutics AG, together with its 100% owned and consolidated U.S. subsidiary Nabriva Therapeutics US, Inc. and 100% owned and consolidated Irish subsidiary Nabriva Therapeutics Ireland DAC, (“Nabriva”, “the Group” or the “Company”) is a clinical stage biopharmaceutical company engaged in the research and development of novel anti-infective agents to treat serious infections, with a focus on the pleuromutilin class of antibiotics. Nabriva was incorporated in Austria as a spin-off from Sandoz GmbH in October 2005 and commenced operations in February 2006. The Company’s headquarters are at Leberstrasse 20, 1110 Vienna Austria. Nabriva Therapeutics US, Inc. was founded and began operations in the United States in August 2014. In February 2017, the Company purchased all shares issued in the capital of Hyacintho DAC, a designated activity company incorporated by a nominee company in December 2016 and renamed the company to Nabriva Therapeutics Ireland DAC on April 10, 2017.

Liquidity

Since its inception, the Company incurred net losses and generated negative cash flows from its operations. To date, it has financed its operations through the sale of equity securities, including its initial public offering of ADSs and private placements of its common shares, convertible debt financings and research and development support from governmental grants and loans. As of March 31, 2017, the Company had cash and cash equivalents and short term investments of $68.2 million.

On December 19, 2016, the Company completed a rights offering and a related underwritten offering for the sale of an aggregate of 588,127 common shares resulting in aggregate gross proceeds of approximately $24.8 million and net proceeds to the Company of approximately $20.6 million, after deducting underwriting fees and offering expenses.

On September 23, 2015 the Company completed its initial public offering on the NASDAQ Global Market issuing 9,000,000 ADSs at a price to the public of $10.25 per ADS, representing 900,000 of its common shares. Each ADS represents one tenth of a common share. On September 30, 2015 the underwriters of its initial public offering exercised in full their over-allotment option to purchase an additional 1,350,000 ADSs, representing 135,000 common shares, at the initial public offering price of $10.25 per ADS, less underwriting discounts. Including the over-allotment ADSs, the Company sold an aggregate of 10,350,000 ADSs representing 1,035,000 common shares, in its initial public offering, which resulted in gross proceeds of approximately $106.1 million and net proceeds to the Company of approximately $92.4 million, after deducting underwriting discounts and offering expenses.

The Company believes that its existing cash, cash equivalents and short-term investments will be sufficient to enable it to fund its operating expenses and capital expenditure requirements into the second quarter of 2018.The Company has based this estimate on assumptions that may prove to be wrong, and the Company could use its capital resources sooner than it currently expects. While the Company has raised capital in the past, the ability to raise capital in future periods is not considered probable, as defined under the accounting standards. As such, under the requirements of ASC 205-40, management may not consider the potential for future capital raises in their assessment of the Company’s ability to meet its obligations for the next twelve months.

This estimate assumes, among other things, that the Company does not obtain any additional funding through grants and clinical trial support, collaboration agreements or debt financings.

As such, in the event necessary, the Company believes it has the ability to elect to forego certain discretionary costs in order to reduce its requirement for cash and to maintain its operations for more than twelve months following the issuance of this report.

If the Company is unable to raise capital when needed or on attractive terms, it could be forced to delay, reduce or eliminate its research and development programs or any future commercialization effort.

Based on current projections, the company anticipates availability of top-line clinical data from LEAP 1, its first Phase 3 clinical trial of lefamulin for community-acquired bacterial pneumonia (“CABP”), in the third quarter of 2017. In addition, the Company expects to complete patient enrollment for LEAP 2, its second Phase 3 clinical trial of lefamulin for CABP, in the fourth quarter of 2017 and anticipates availability of top-line data for LEAP 2 in the first quarter of 2018.