2016 Q1 Form 10-K Financial Statement
#000156459016015403 Filed on March 28, 2016
Income Statement
| Concept | 2016 Q1 | 2015 | 2014 Q4 |
|---|---|---|---|
| Revenue | $396.6K | $648.4K | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $1.110M | $3.610M | $690.0K |
| YoY Change | 37.04% | 159.71% | 137.93% |
| % of Gross Profit | |||
| Research & Development | $2.174M | $5.889M | $570.0K |
| YoY Change | 200.5% | 369.02% | |
| % of Gross Profit | |||
| Depreciation & Amortization | $17.29K | $43.94K | $0.00 |
| YoY Change | 221.82% | 322.33% | |
| % of Gross Profit | |||
| Operating Expenses | $3.284M | $9.502M | $1.260M |
| YoY Change | 113.89% | 258.95% | 350.0% |
| Operating Profit | -$2.887M | -$8.854M | |
| YoY Change | 88.06% | 234.46% | |
| Interest Expense | $6.430K | $2.440K | $0.00 |
| YoY Change | 556.79% | -89.84% | -100.0% |
| % of Operating Profit | |||
| Other Income/Expense, Net | -$5.017K | $2.954K | $0.00 |
| YoY Change | 1097.37% | -97.23% | |
| Pretax Income | -$2.890M | -$8.850M | -$1.260M |
| YoY Change | 87.66% | 248.43% | 334.48% |
| Income Tax | $0.00 | ||
| % Of Pretax Income | |||
| Net Earnings | -$2.892M | -$8.851M | -$1.260M |
| YoY Change | 88.33% | 248.39% | 334.48% |
| Net Earnings / Revenue | -729.26% | -1365.05% | |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$76.84K | -$282.3K | -$49.88K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 37.61M | 25.80M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2016 Q1 | 2015 | 2014 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $9.688M | $12.30M | $6.262M |
| YoY Change | 94.87% | 95.24% | 1966.68% |
| Cash & Equivalents | $9.688M | $12.10M | $6.262M |
| Short-Term Investments | $0.00 | $0.00 | |
| Other Short-Term Assets | $500.0K | $400.0K | $300.0K |
| YoY Change | 150.0% | 33.33% | |
| Inventory | |||
| Prepaid Expenses | $474.6K | $270.6K | |
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $10.16M | $12.70M | $6.533M |
| YoY Change | 96.1% | 95.38% | 2038.32% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $296.5K | $100.0K | $54.04K |
| YoY Change | 488.36% | 0.0% | |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Total Long-Term Assets | $332.9K | $200.0K | $67.77K |
| YoY Change | 419.12% | 100.0% | |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $10.16M | $12.70M | $6.533M |
| Total Long-Term Assets | $332.9K | $200.0K | $67.77K |
| Total Assets | $10.50M | $12.90M | $6.601M |
| YoY Change | 100.05% | 95.45% | 2060.5% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $1.230M | $1.300M | $344.2K |
| YoY Change | 553.46% | 333.33% | 89.65% |
| Accrued Expenses | $1.298M | $600.0K | $249.5K |
| YoY Change | 341.51% | 200.0% | 292.97% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $100.0K | $200.0K | $100.0K |
| YoY Change | 0.0% | 100.0% | -66.67% |
| Total Short-Term Liabilities | $4.076M | $3.600M | $738.0K |
| YoY Change | 634.79% | 414.29% | 13.74% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | ||
| Other Long-Term Liabilities | $14.85K | $300.0K | |
| YoY Change | |||
| Total Long-Term Liabilities | $14.85K | $300.0K | $0.00 |
| YoY Change | -100.0% | ||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $4.076M | $3.600M | $738.0K |
| Total Long-Term Liabilities | $14.85K | $300.0K | $0.00 |
| Total Liabilities | $4.091M | $3.900M | $738.0K |
| YoY Change | 637.47% | 457.14% | -24.7% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$16.17M | -$4.427M | |
| YoY Change | 171.18% | 134.66% | |
| Common Stock | $22.57M | $10.29M | |
| YoY Change | 868133.15% | 1478320.69% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $6.404M | $9.000M | $5.863M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $10.50M | $12.90M | $6.601M |
| YoY Change | 100.05% | 95.45% | 2060.5% |
Cashflow Statement
| Concept | 2016 Q1 | 2015 | 2014 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$2.892M | -$8.851M | -$1.260M |
| YoY Change | 88.33% | 248.39% | 334.48% |
| Depreciation, Depletion And Amortization | $17.29K | $43.94K | $0.00 |
| YoY Change | 221.82% | 322.33% | |
| Cash From Operating Activities | -$2.510M | -$4.620M | -$1.320M |
| YoY Change | 96.09% | 95.76% | 915.38% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $65.32K | $114.0K | $0.00 |
| YoY Change | 3682.4% | 76.94% | |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | |||
| YoY Change | |||
| Cash From Investing Activities | -$70.00K | -$110.0K | $0.00 |
| YoY Change | 83.33% | ||
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $11.33M | ||
| YoY Change | 9.93% | ||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -70.00K | 10.84M | 50.00K |
| YoY Change | 600.0% | 29.2% | -50.0% |
| NET CHANGE | |||
| Cash From Operating Activities | -2.510M | -4.620M | -1.320M |
| Cash From Investing Activities | -70.00K | -110.0K | 0.000 |
| Cash From Financing Activities | -70.00K | 10.84M | 50.00K |
| Net Change In Cash | -2.650M | 6.110M | -1.270M |
| YoY Change | 105.43% | 2.35% | 4133.33% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$2.510M | -$4.620M | -$1.320M |
| Capital Expenditures | $65.32K | $114.0K | $0.00 |
| Free Cash Flow | -$2.575M | -$4.734M | -$1.320M |
| YoY Change | 100.93% | 95.26% | 915.38% |
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<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;"><font style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</font></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;">NATURE OF OPERATIONS</p></td></tr></table></div> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Business</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Corbus Pharmaceuticals Holdings, Inc. (“CPHI” or “the Company”) is a clinical stage pharmaceutical company, focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets and raising capital. The Company’s business is subject to significant risks and uncertainties and the Company will be dependent on raising substantial additional capital before it becomes profitable and it may never achieve profitability.</p> <p style="margin-top:18pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Reverse Acquisition</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;letter-spacing:-0.1pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">JB Therapeutics Inc. (“JB Therapeutics”), was incorporated on April 24, 2009 under the laws of the State of Delaware. CPHI was incorporated on December 18, 2013 under the laws of the State of Delaware. On April 11, 2014, JB Therapeutics Inc. completed a reverse acquisition with CPHI. Upon the consummation of the reverse acquisition, JB Therapeutics became a wholly owned subsidiary of CPHI and changed its name to Corbus Pharmaceuticals, Inc. CPHI continues to operate the business of JB Therapeutics. All the references to the “Company” for activities prior to the reverse merger are to JB Therapeutics activities.</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As part of the reverse acquisition, CPHI issued 9,000,000 shares of common stock to holders of JB Therapeutics common and preferred stock in exchange for a total of 5,964,649 common shares outstanding on an as converted basis. In addition, the holders of warrants to purchase common stock of JB Therapeutics received warrants, or the Replacement Warrants, to purchase 377,839 shares of CPHI common stock with an exercise price of ranging from $0.60 to $0.66. In addition, holders of JB Therapeutics Series A preferred stock received warrants to purchase 917,612 shares of common stock of CPHI. Finally, holders of outstanding options of JB Therapeutics received, in substitution for such options, options made pursuant to the Corbus 2014 Equity Incentive Plan to purchase an aggregate of 905,334 shares of CPHI common stock with exercise prices ranging from $0.11 to $0.17 per share. All share and per share amounts presented in these consolidated financial statements for the year ended December 31, 2014 have been retroactively restated to reflect the 1.5089 exchange ratio of JB Therapeutics shares for CPHI shares in the reverse acquisition. Immediately prior to the reverse acquisition, CPHI had 6,000,000 shares outstanding.</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The reverse acquisition was accounted for as a recapitalization since the formation of CPHI was formed solely to effect the reverse acquisition and a private placement of equity, and CPHI had no prior operations or net monetary assets. Thus, JB Therapeutics is deemed to be the accounting acquirer and successor entity and the historical financial statements are those of JB Therapeutics as the accounting acquirer. Following the reverse acquisition, the management of JB Therapeutics became the management of CPHI. At the date of the reverse acquisition, the 6,000,000 outstanding shares of CPHI were reflected as an issuance of common stock to the prior holders of CPHI. CPHI had no net monetary assets as of the reverse acquisition so the issuance was recorded as a reclassification between additional paid-in-capital and par value of common stock. On April 11, 2014 and in three subsequent closings, CPHI completed a private placement of equity, raising net proceeds of approximately $8,402,000 (the “2014 Private Placement”) (See Note 12).</p></div> | |
| CY2015 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
10837344 | |
| CY2014 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
8385109 | |
| CY2015 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
6075830 | |
| CY2014 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
29861 | |
| CY2015 | us-gaap |
Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
|
22647 | |
| CY2014 | us-gaap |
Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
|
13728 | |
| CY2015 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
105959 | |
| CY2014 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
268056 | |
| CY2015 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
972194 | |
| CY2014 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
170239 | |
| CY2015 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
312788 | |
| CY2014 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
186002 | |
| CY2015 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
1851618 | |
| CY2015 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-4647477 | |
| CY2014 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-2361236 | |
| CY2015 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
114037 | |
| CY2014 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
64448 | |
| CY2015 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-114037 | |
| CY2014 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-64448 | |
| CY2015 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
207750 | |
| CY2014 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
192000 | |
| CY2015 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
190120 | |
| CY2014 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
247006 | |
| CY2015 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
11328929 | |
| CY2014 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
10305161 | |
| CY2015 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
509215 | |
| CY2014 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
1865046 | |
| CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
1290500 | |
| CY2015Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
1306093 | |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
1764338 | |
| CY2015 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="margin-top:18pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The process of preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and changes in estimates may occur. The most significant estimates are related to stock based compensation, the value of derivative instruments and the accrual of research and clinical obligations.</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prior to the registration of its common stock and the subsequent public listing of the common stock, the Company had granted stock options at exercise prices not less than the fair value of its common stock as determined by the board of directors, with input from management. The Company’s board of directors determined the estimated fair value of the common stock based on a number of objective and subjective factors, including external market conditions affecting the biotechnology industry sector and the historic prices at which the Company sold shares of preferred stock.</p></div> | |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
|
167127 | |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
453906 | |
| CY2015 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div> <p style="margin-top:18pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentrations of Credit Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has no significant off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other hedging arrangements. The Company may from time to time have cash in banks in excess of Federal Deposit Insurance Corporation insurance limits.</p></div> | |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
5379340 | |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
1764338 | |
| CY2015 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P3Y2M16D | |
| CY2014Q2 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
48380 | |
| CY2013Q2 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
301778 | |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | |
| CY2013Q2 | invest |
Investment Warrants Exercise Price
InvestmentWarrantsExercisePrice
|
0.66 | |
| CY2015Q4 | crbp |
Accrued Product Development Costs
AccruedProductDevelopmentCosts
|
152018 | |
| CY2014Q4 | crbp |
Accrued Product Development Costs
AccruedProductDevelopmentCosts
|
114757 | |
| CY2014 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
8402000 | |
| CY2015Q4 | us-gaap |
Marketable Securities
MarketableSecurities
|
0 | |
| CY2014Q4 | us-gaap |
Marketable Securities
MarketableSecurities
|
0 | |
| CY2015Q4 | us-gaap |
Cash
Cash
|
255943 | |
| CY2014Q4 | us-gaap |
Cash
Cash
|
10974 | |
| CY2015Q4 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
12082332 | |
| CY2014Q4 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
6251471 | |
| CY2015 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
| CY2015 | crbp |
Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
|
1.00 | |
| CY2015Q4 | us-gaap |
Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
|
0 | |
| CY2014Q4 | us-gaap |
Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
|
0 | |
| CY2015 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | |
| CY2014 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | |
| CY2015 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-8850739 | |
| CY2014 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2540485 | |
| CY2015 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
5951315 | |
| CY2014 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
17266668 | |
| us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0125 | ||
| us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0.00 | ||
| us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P3Y11M19D | ||
| us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.66 | ||
| CY2015Q4 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
0 | |
| CY2014Q4 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
0 | |
| CY2015Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
54348 | |
| CY2014Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
10405 | |
| CY2015 | us-gaap |
Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
|
P3Y | |
| CY2015 | crbp |
Operating Lease Terms
OperatingLeaseTerms
|
P3Y | |
| CY2015Q4 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
13728 | |
| CY2015Q4 | crbp |
Area Of Land Expected To Be Occupied
AreaOfLandExpectedToBeOccupied
|
6326 | |
| CY2015 | crbp |
Expected Operating Lease Terms
ExpectedOperatingLeaseTerms
|
P5Y | |
| CY2015 | us-gaap |
Line Of Credit Facility Increase Decrease For Period Net
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
|
36375 | |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
250768 | |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
148397 | |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
151561 | |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
154723 | |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
157887 | |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
13179 | |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
876515 | |
| CY2015 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
55496 | |
| CY2014 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
35550 | |
| CY2015 | us-gaap |
Debt Instrument Term
DebtInstrumentTerm
|
P5Y | |
| CY2015Q4 | us-gaap |
Notes Payable
NotesPayable
|
162019 | |
| CY2014Q4 | us-gaap |
Notes Payable
NotesPayable
|
144389 | |
| CY2015Q4 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
0 | |
| CY2014Q4 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
0 | |
| CY2015Q4 | crbp |
Accrued Clinical Operations And Trials Costs
AccruedClinicalOperationsAndTrialsCosts
|
365188 | |
| CY2015Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
16500 | |
| CY2014Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
50000 | |
| CY2014Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
40734 | |
| CY2015Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
28573 | |
| CY2014Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
44000 | |
| CY2015Q2 | crbp |
Deferred Revenue Gross
DeferredRevenueGross
|
1250000 | |
| CY2015Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
1851618 | |
| CY2015 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
0 | |
| CY2015Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
22416000 | |
| CY2014Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
7164000 | |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
4505965 | |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
1408745 | |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
|
406888 | |
| CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.3400 | |
| CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.3400 | |
| CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.0476 | |
| CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.0503 | |
| CY2013Q2 | crbp |
Additional Shares Warrants Issued Due To Anti Dilution Provision
AdditionalSharesWarrantsIssuedDueToAntiDilutionProvision
|
48222 | |
| CY2014 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.0000 | |
| CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
0.0021 | |
| CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
-0.0062 | |
| CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
-0.0047 | |
| CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
|
0.0267 | |
| CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.4085 | |
| CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
|
0.0337 | |
| CY2015 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
0.0004 | |
| CY2014 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.4214 | |
| CY2015 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.0000 | |
| CY2014Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
541948 | |
| CY2014Q4 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
33333 | |
| CY2014 | crbp |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights Through Cashless Exercise
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRightsThroughCashlessExercise
|
21500 | |
| CY2015 | us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
10819714 | |
| CY2015 | crbp |
Issuance Of Common Stock Upon Exercise Of Options And Warrants
IssuanceOfCommonStockUponExerciseOfOptionsAndWarrants
|
11666802 | |
| CY2015 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
8402000 | |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
597243 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
3047139 | |
| CY2014 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
87691 | |
| CY2014Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3556691 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
600002 | |
| CY2015 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
51128 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
123500 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3982065 | |
| CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
1946810 | |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.13 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.95 | |
| CY2014 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0.11 | |
| CY2014Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.83 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
2.10 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0.11 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
1.00 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
1.03 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
0.87 | |
| CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y1M6D | |
| CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P7Y7M17D | |
| CY2015Q4 | crbp |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercised Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedAggregateIntrinsicValue
|
152531 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
2578843 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
1560372 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.41 | |
| CY2014Q3 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
162539 | |
| CY2014Q3 | invest |
Investment Warrants Exercise Price
InvestmentWarrantsExercisePrice
|
1.00 | |
| CY2014Q3 | crbp |
Warrant Exercisable Term
WarrantExercisableTerm
|
P5Y | |
| CY2015Q4 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
1969250 | |
| CY2015Q4 | crbp |
Warrants Weighted Average Exercise Price
WarrantsWeightedAverageExercisePrice
|
0.97 | |
| CY2015 | crbp |
Warrants Weighted Average Remaining Contractual Term
WarrantsWeightedAverageRemainingContractualTerm
|
P3Y3M29D | |
| CY2015 | crbp |
Warrants Exercised To Purchase Common Stock Shares
WarrantsExercisedToPurchaseCommonStockShares
|
11615674 | |
| CY2015 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
10814125 | |
| CY2015 | crbp |
Class Of Warrant Or Right Issued
ClassOfWarrantOrRightIssued
|
0 | |
| CY2015 | crbp |
Class Of Warrant Or Right Cancelled
ClassOfWarrantOrRightCancelled
|
0 | |
| CY2015 | crbp |
Description Of Phase Two Study Plans In Sle
DescriptionOfPhaseTwoStudyPlansInSLE
|
The Phase 2 trial will test the efficacy, safety, tolerability and biologic effects of Resunab as a novel, non-immunosuppressive oral treatment to improve signs and symptoms of SLE. The study plans to enroll 100 adult SLE patients with active musculoskeletal disease and will be carried out at approximately ten sites in the United States. These patients will receive either placebo or three different doses of Resunab daily for 84 days with 28 days follow-up. |
