2015 Q3 Form 10-Q Financial Statement
#000156459015010330 Filed on November 10, 2015
Income Statement
| Concept | 2015 Q3 | 2014 Q3 |
|---|---|---|
| Revenue | $7.167M | $16.05M |
| YoY Change | -55.35% | 3072.33% |
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $10.20M | $4.000M |
| YoY Change | 155.0% | 66.67% |
| % of Gross Profit | ||
| Research & Development | $68.22M | $18.50M |
| YoY Change | 268.83% | 274.87% |
| % of Gross Profit | ||
| Depreciation & Amortization | $700.0K | $192.0K |
| YoY Change | 264.58% | 90.1% |
| % of Gross Profit | ||
| Operating Expenses | $78.38M | $22.48M |
| YoY Change | 248.76% | 208.34% |
| Operating Profit | -$71.22M | -$6.423M |
| YoY Change | 1008.78% | -5.31% |
| Interest Expense | $33.00K | $1.000K |
| YoY Change | 3200.0% | -99.95% |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$235.0K | -$1.490M |
| YoY Change | -84.23% | -88.27% |
| Pretax Income | -$71.50M | -$7.900M |
| YoY Change | 805.06% | -63.26% |
| Income Tax | $0.00 | |
| % Of Pretax Income | ||
| Net Earnings | -$71.33M | -$7.872M |
| YoY Change | 806.17% | -63.34% |
| Net Earnings / Revenue | -995.31% | -49.04% |
| Basic Earnings Per Share | -$1.86 | |
| Diluted Earnings Per Share | -$1.86 | -$237.2K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 38.43M | 4.624M |
| Diluted Shares Outstanding | 38.43M |
Balance Sheet
| Concept | 2015 Q3 | 2014 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $153.7M | $100.9M |
| YoY Change | 52.33% | |
| Cash & Equivalents | $153.7M | $100.9M |
| Short-Term Investments | ||
| Other Short-Term Assets | $35.10M | $18.10M |
| YoY Change | 93.92% | |
| Inventory | ||
| Prepaid Expenses | $17.95M | |
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $189.3M | $118.9M |
| YoY Change | 59.24% | |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $8.652M | $3.680M |
| YoY Change | 135.11% | |
| Goodwill | $943.0K | $943.0K |
| YoY Change | 0.0% | |
| Intangibles | $2.620M | $2.620M |
| YoY Change | 0.0% | |
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $800.0K | $3.064M |
| YoY Change | -73.89% | |
| Total Long-Term Assets | $13.00M | $10.31M |
| YoY Change | 26.11% | |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $189.3M | $118.9M |
| Total Long-Term Assets | $13.00M | $10.31M |
| Total Assets | $202.3M | $129.2M |
| YoY Change | 56.6% | |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $25.20M | $4.411M |
| YoY Change | 471.3% | |
| Accrued Expenses | $25.20M | $7.700M |
| YoY Change | 227.27% | |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $0.00 | |
| YoY Change | ||
| Total Short-Term Liabilities | $82.50M | $48.08M |
| YoY Change | 71.6% | |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $79.80M | $130.0K |
| YoY Change | 61284.62% | |
| Total Long-Term Liabilities | $79.80M | $130.0K |
| YoY Change | 61284.62% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $82.50M | $48.08M |
| Total Long-Term Liabilities | $79.80M | $130.0K |
| Total Liabilities | $161.7M | $120.0M |
| YoY Change | 34.75% | |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$157.6M | |
| YoY Change | ||
| Common Stock | $1.000K | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $40.60M | -$151.8M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $202.3M | $129.2M |
| YoY Change | 56.6% |
Cashflow Statement
| Concept | 2015 Q3 | 2014 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$71.33M | -$7.872M |
| YoY Change | 806.17% | -63.34% |
| Depreciation, Depletion And Amortization | $700.0K | $192.0K |
| YoY Change | 264.58% | 90.1% |
| Cash From Operating Activities | -$59.70M | -$5.100M |
| YoY Change | 1070.59% | -123.72% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$2.400M | -$800.0K |
| YoY Change | 200.0% | |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$800.0K | $0.00 |
| YoY Change | ||
| Cash From Investing Activities | -$3.200M | -$800.0K |
| YoY Change | 300.0% | |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 10.50M | -1.800M |
| YoY Change | -683.33% | -118.0% |
| NET CHANGE | ||
| Cash From Operating Activities | -59.70M | -5.100M |
| Cash From Investing Activities | -3.200M | -800.0K |
| Cash From Financing Activities | 10.50M | -1.800M |
| Net Change In Cash | -52.40M | -7.700M |
| YoY Change | 580.52% | -124.44% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$59.70M | -$5.100M |
| Capital Expenditures | -$2.400M | -$800.0K |
| Free Cash Flow | -$57.30M | -$4.300M |
| YoY Change | 1232.56% | -120.0% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2015Q3 | us-gaap |
Assets Current
AssetsCurrent
|
189302000 | |
| CY2015Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
8652000 | |
| CY2015Q3 | us-gaap |
Goodwill
Goodwill
|
943000 | |
| CY2015Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
2620000 | |
| CY2015Q3 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
785000 | |
| us-gaap |
Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
|
511000 | ||
| us-gaap |
Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
|
507000 | ||
| chrs |
Related Party Transaction Research And Development Expense
RelatedPartyTransactionResearchAndDevelopmentExpense
|
15698000 | ||
| CY2014Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2015Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | |
| CY2015Q3 | us-gaap |
License And Services Revenue
LicenseAndServicesRevenue
|
7167000 | |
| us-gaap |
License And Services Revenue
LicenseAndServicesRevenue
|
19843000 | ||
| us-gaap |
Interest Expense
InterestExpense
|
33000 | ||
| us-gaap |
Interest Expense
InterestExpense
|
3900000 | ||
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-4465000 | ||
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-13.62 | ||
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
36510756 | ||
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
4258770 | ||
| chrs |
Related Party Transaction Research And Development Expense
RelatedPartyTransactionResearchAndDevelopmentExpense
|
33919000 | ||
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1268000 | ||
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
439000 | ||
| chrs |
Noncash Interest Income Expense And Amortization
NoncashInterestIncomeExpenseAndAmortization
|
38000 | ||
| chrs |
Noncash Interest Income Expense And Amortization
NoncashInterestIncomeExpenseAndAmortization
|
-3897000 | ||
| us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
128000 | ||
| us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
2048000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
7236000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-1877000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
-278000 | ||
| us-gaap |
Increase Decrease In Notes Receivable Related Parties Current
IncreaseDecreaseInNotesReceivableRelatedPartiesCurrent
|
-107000 | ||
| us-gaap |
Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
|
-1853000 | ||
| us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
12157000 | ||
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
2331000 | ||
| us-gaap |
Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
|
-1691000 | ||
| us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-42000 | ||
| us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
476000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
19100000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
552000 | ||
| us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
1072000 | ||
| us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
4580000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
13771000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
498000 | ||
| us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-383000 | ||
| us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
25885000 | ||
| chrs |
Increase Decrease In Advance Payments Under License Agreement
IncreaseDecreaseInAdvancePaymentsUnderLicenseAgreement
|
-1192000 | ||
| chrs |
Increase Decrease In Contingent Liability To Collaborator
IncreaseDecreaseInContingentLiabilityToCollaborator
|
20150000 | ||
| us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
311000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
9358000 | ||
| us-gaap |
Cash Acquired From Acquisition
CashAcquiredFromAcquisition
|
2334000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2360000 | ||
| us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
785000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-5505000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-26000 | ||
| us-gaap |
Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
|
54660000 | ||
| us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
74000 | ||
| chrs |
Proceeds From Issuance Follow On Offering Net Of Underwriters Discounts And Commissions
ProceedsFromIssuanceFollowOnOfferingNetOfUnderwritersDiscountsAndCommissions
|
112800000 | ||
| us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
10000000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1015000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
19000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
2000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
122359000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
52190000 | ||
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
2000 | ||
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
-201000 | ||
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
3299000 | ||
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
61321000 | ||
| CY2013Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
39554000 | |
| CY2014Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
100875000 | |
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Organization and Operations<font style="font-weight:normal;"> </font></p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Description of the Business </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Coherus BioSciences, Inc. (the “Company”, “Coherus”, “we”, “our” or “us”) was incorporated in the state of Delaware as BioGenerics, Inc. in September 2010 and changed its name to Coherus BioSciences, Inc. in April 2012. The Company is a late-stage clinical biologics platform company, focused on the global biosimilar market. The Company’s headquarters and laboratories are located in Redwood City, California and in Camarillo, California, respectively. The Company operates in one segment. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s clinical stage pipeline consists of a long-acting form of granulocyte colony-stimulating factor (“G-CSF”), and two anti-inflammatory agents targeting tumor necrosis factor (“TNF”): </p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:'Symbol';font-size:10pt;">·</p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s long-acting G-CSF product candidate, CHS-1701, is being developed as a pegfilgrastim (Neulasta) biosimilar. In October 2015, the Company completed a pivotal pharmacokinetic (PK) and pharmacodynamics (PD) study for CHS-1701 in the United States (U.S.), which the Company believes will support the planned filing of a biologics license application (“BLA”) in the U.S. An additional immunogenicity study is underway in healthy volunteers pursuant to this BLA, which is projected to be submitted to the U.S. Food and Drug Administration (“FDA”) in the first quarter of 2016.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:'Symbol';font-size:10pt;">·</p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s most clinically advanced anti-TNF product candidate, CHS-0214, is being developed as an etanercept (Enbrel) biosimilar that the Company has partnered with Baxalta Incorporated, Baxalta US Inc., and Baxalta GmbH, (collectively “Baxalta”) and Daiichi Sankyo Company, Limited (“Daiichi Sankyo”) to develop and commercialize in key markets outside of the U.S. In October 2015, the Company completed part 1 of a Phase 3 clinical study in psoriasis comparing CHS-0214 to Enbrel. This study is on-going, but this study met all its primary efficacy endpoints. There were no clinically important safety issues in either treatment group. The Company expects that results from these studies, if positive, combined with data from our Phase 1 studies and Phase 3 study in psoriasis, will support the expected filing of a marketing application in Europe and Japan in 2016. The Company has retained the development and commercial rights to this product in the U.S. However, the therapeutic protein in etanercept is subject to certain originator-controlled U.S. patents expiring in 2028 and 2029. Assuming these patents are valid and enforceable, and that the Company would be unable to obtain a license to them, the Company does not expect to commercialize CHS-0214 in the U.S. prior to their expiration.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:'Symbol';font-size:10pt;">·</p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s second anti-TNF product candidate, CHS-1420, is being developed as an adalimumab (Humira) biosimilar. This product successfully completed a pivotal Phase 1 PK study in August 2014 by meeting the primary study endpoint. The Company initiated a Phase 3 study in psoriasis in August 2015 to support the planned filing of a marketing application in the U.S. in 2016 and the E.U. in 2017. A bridging PK study comparing the Phase 3 CHS-1420 material to adalimumab (Humira) is planned for during the first half of 2016.</p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Need to Raise Additional Capital</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of September 30, 2015, the Company had an accumulated deficit of $357.6 million and cash and cash equivalents of $153.7 million. The Company believes that its current available cash and cash equivalents, together with funding it expects to receive under its license agreements with Daiichi Sankyo and Baxalta, will be sufficient to fund its planned expenditures and meet the Company’s obligations through at least the next twelve months. However, if the anticipated operating results are not achieved in future periods, the planned expenditures may need to be reduced in order to extend the time period over which the then-available resources would be able to fund the operations. The Company will need to raise additional funds in the future, however there can be no assurance that such efforts will be successful or that, in the event that they are successful, the terms and conditions of such financing will be favorable. </p></div> | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="margin-bottom:0pt;margin-top:8pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. Management uses significant judgment when making estimates related to its common stock valuation and related stock-based compensation, the valuations of the convertible preferred stock warrant liability and embedded derivative instruments, valuation of deferred tax assets, impairment of goodwill and long-lived assets, the valuation of acquired intangible assets, clinical trial accruals, revenue recognition period, as well as certain accrued liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. </p></div> | ||
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | ||
| CY2015Q3 | us-gaap |
Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
|
123000 | |
| us-gaap |
Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
|
162000 | ||
| CY2014Q3 | us-gaap |
Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
|
123000 | |
| us-gaap |
Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
|
162000 | ||
| CY2015Q3 | us-gaap |
Foreign Currency Transaction Gain Before Tax
ForeignCurrencyTransactionGainBeforeTax
|
246000 | |
| us-gaap |
Foreign Currency Transaction Gain Before Tax
ForeignCurrencyTransactionGainBeforeTax
|
164000 | ||
| CY2014Q3 | us-gaap |
Foreign Currency Transaction Gain Before Tax
ForeignCurrencyTransactionGainBeforeTax
|
246000 | |
| us-gaap |
Foreign Currency Transaction Gain Before Tax
ForeignCurrencyTransactionGainBeforeTax
|
164000 | ||
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | ||
| us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Into Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3
|
0 | ||
| CY2014 | us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Into Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3
|
0 | |
| us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3
|
0 | ||
| CY2014 | us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3
|
0 | |
| CY2015Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
11318000 | |
| CY2014Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
5764000 | |
| CY2015Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2666000 | |
| CY2014Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1292000 | |
| CY2015Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
636000 | |
| CY2014Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
192000 | |
| CY2015Q3 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
6678000 | |
| CY2014Q4 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
2997000 | |
| CY2015Q3 | chrs |
Accrued Clinical And Manufacturing Liabilities Current
AccruedClinicalAndManufacturingLiabilitiesCurrent
|
12199000 | |
| CY2015Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3108000 | |
| CY2015Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
688000 | |
| CY2015Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
2497000 | |
| chrs |
Lease Initiation Date
LeaseInitiationDate
|
2011-09-26 | ||
| CY2015Q3 | us-gaap |
Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
324000 | |
| CY2015Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
1692000 | |
| CY2015Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
1276000 | |
| CY2015Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
1669000 | |
| CY2015Q3 | chrs |
Operating Leases Future Minimum Payments Due In Five Years And Thereafter
OperatingLeasesFutureMinimumPaymentsDueInFiveYearsAndThereafter
|
7033000 | |
| CY2015Q3 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
11994000 | |
| CY2015Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
38426734 | |
| CY2014Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
4624437 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
36515581 | ||
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
4691201 | ||
| CY2014Q3 | us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
214734 | |
| us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
4825 | ||
| us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
432431 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7924249 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
27421663 |
