2022 Q3 Form 10-Q Financial Statement

#000162828022021044 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $93.00K $91.00K $74.00K
YoY Change 8.14% 33.82% 2.78%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.077M $3.086M $3.940M
YoY Change 5.02% 8.74% 76.29%
% of Gross Profit
Research & Development $6.009M $7.448M $7.208M
YoY Change 44.66% 80.82% 119.82%
% of Gross Profit
Depreciation & Amortization $81.00K $38.00K $31.00K
YoY Change -26.36% -64.81% -73.95%
% of Gross Profit
Operating Expenses $9.086M $10.53M $11.15M
YoY Change 28.26% 51.42% 102.18%
Operating Profit -$8.993M -$10.44M -$11.07M
YoY Change 28.51% 51.59% 103.49%
Interest Expense $458.0K $253.0K $130.0K
YoY Change 458.54% 91.67% -50.0%
% of Operating Profit
Other Income/Expense, Net $422.0K $0.00 $81.00K
YoY Change 13966.67% -100.0% -69.2%
Pretax Income -$8.571M -$10.44M -$10.99M
YoY Change 23.98% 54.55% 112.22%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$8.571M -$10.44M -$10.99M
YoY Change 23.98% 54.55% 112.26%
Net Earnings / Revenue -9216.13% -11475.82% -14855.41%
Basic Earnings Per Share -$0.20 -$0.24 -$0.25
Diluted Earnings Per Share -$0.20 -$0.24 -$0.25
COMMON SHARES
Basic Shares Outstanding 43.33M shares 43.31M shares 43.23M shares
Diluted Shares Outstanding 43.33M shares 43.31M shares 43.23M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $107.2M $115.7M $114.5M
YoY Change -20.02% -17.4% -8.87%
Cash & Equivalents $18.72M $20.97M $20.05M
Short-Term Investments $88.50M $94.72M $94.41M
Other Short-Term Assets $4.802M $4.857M $5.997M
YoY Change 44.33% 93.35% 122.11%
Inventory
Prepaid Expenses $4.802M $4.857M $5.997M
Receivables $650.0K $551.0K $447.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $119.8M $127.4M $135.8M
YoY Change -13.08% -10.82% 5.63%
LONG-TERM ASSETS
Property, Plant & Equipment $1.304M $1.138M $550.0K
YoY Change 240.47% 169.67% 9.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $184.0K $185.0K $188.0K
YoY Change 28.67% -29.66% -21.01%
Total Long-Term Assets $3.876M $3.847M $3.398M
YoY Change 9.4% 345.77% 238.78%
TOTAL ASSETS
Total Short-Term Assets $119.8M $127.4M $135.8M
Total Long-Term Assets $3.876M $3.847M $3.398M
Total Assets $123.6M $131.3M $139.2M
YoY Change -12.51% -8.68% 7.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.425M $1.522M $1.261M
YoY Change 259.85% 180.29% 57.04%
Accrued Expenses $6.138M $6.279M $4.738M
YoY Change 53.07% 74.81% 57.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.245M $8.481M $6.664M
YoY Change 63.53% 85.22% 48.78%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.174M $2.306M $2.438M
YoY Change 7146.67% 977.57% 1176.44%
Total Long-Term Liabilities $2.174M $2.306M $2.438M
YoY Change 7146.67% 977.57% 1176.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.245M $8.481M $6.664M
Total Long-Term Liabilities $2.174M $2.306M $2.438M
Total Liabilities $10.42M $10.79M $9.102M
YoY Change 34.13% 123.98% 91.38%
SHAREHOLDERS EQUITY
Retained Earnings -$289.8M -$281.3M -$270.8M
YoY Change 15.77% 15.53% 14.42%
Common Stock $4.000K $4.000K $4.000K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $113.2M $120.5M $130.1M
YoY Change
Total Liabilities & Shareholders Equity $123.6M $131.3M $139.2M
YoY Change -12.51% -8.68% 7.43%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$8.571M -$10.44M -$10.99M
YoY Change 23.98% 54.55% 112.26%
Depreciation, Depletion And Amortization $81.00K $38.00K $31.00K
YoY Change -26.36% -64.81% -73.95%
Cash From Operating Activities -$7.486M -$6.695M -$10.25M
YoY Change 36.98% 55.52% 74.18%
INVESTING ACTIVITIES
Capital Expenditures -$448.0K -$312.0K $171.0K
YoY Change 357.14%
Acquisitions
YoY Change
Other Investing Activities $5.611M $7.920M $18.53M
YoY Change -31.13% -141.68% -116.59%
Cash From Investing Activities $5.163M $7.608M $18.36M
YoY Change -35.86% -140.04% -116.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 75.00K 0.000 $0.00
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -7.486M -6.695M -$10.25M
Cash From Investing Activities 5.163M 7.608M $18.36M
Cash From Financing Activities 75.00K 0.000 $0.00
Net Change In Cash -2.248M 913.0K $8.109M
YoY Change -187.0% -122.38% -106.97%
FREE CASH FLOW
Cash From Operating Activities -$7.486M -$6.695M -$10.25M
Capital Expenditures -$448.0K -$312.0K $171.0K
Free Cash Flow -$7.038M -$6.383M -$10.42M
YoY Change 31.13% 77.09%

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139000 usd
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1367000 usd
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58000 usd
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NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
483000 usd
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CY2022Q2 us-gaap Cash Cash Equivalents And Short Term Investments
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1263000 usd
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11943000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130981000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20965000 usd
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10581000 usd
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1000 usd
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1000 usd
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456000 usd
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27000 usd
crdf Capital Expenditures Included With Insurance Proceeds Receivable
CapitalExpendituresIncludedWithInsuranceProceedsReceivable
43000 usd
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12000 usd
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CY2022Q2 us-gaap Debt Securities Available For Sale Amortized Cost Current
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95637000 usd
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1000 usd
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915000 usd
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94723000 usd
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6386000 usd
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0 usd
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DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxNoncurrent
68000 usd
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6318000 usd
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102023000 usd
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1000 usd
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983000 usd
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101041000 usd
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95643000 usd
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6000 usd
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65000 usd
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95584000 usd
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DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent
33377000 usd
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DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxNoncurrent
1000 usd
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DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxNoncurrent
84000 usd
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33294000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
129020000 usd
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AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
7000 usd
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AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
149000 usd
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AvailableForSaleSecuritiesDebtSecurities
128878000 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4613000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3823000 usd
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3475000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3441000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1138000 usd
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PropertyPlantAndEquipmentNet
382000 usd
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EmployeeRelatedLiabilitiesCurrent
1304000 usd
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EmployeeRelatedLiabilitiesCurrent
1435000 usd
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AccruedPreferredStockDividend
426000 usd
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AccruedPreferredStockDividend
414000 usd
CY2022Q2 crdf Accrued Clinical Trial
AccruedClinicalTrial
1780000 usd
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AccruedClinicalTrial
1639000 usd
CY2022Q2 crdf Accrued Research Agreements
AccruedResearchAgreements
1697000 usd
CY2021Q4 crdf Accrued Research Agreements
AccruedResearchAgreements
726000 usd
CY2022Q2 crdf Accrued Director Fees
AccruedDirectorFees
122000 usd
CY2021Q4 crdf Accrued Director Fees
AccruedDirectorFees
141000 usd
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
28000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
63000 usd
CY2022Q2 crdf Patent License And Other Fees Payable
PatentLicenseAndOtherFeesPayable
40000 usd
CY2021Q4 crdf Patent License And Other Fees Payable
PatentLicenseAndOtherFeesPayable
43000 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
882000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
66000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6279000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4527000 usd
crdf Lessee Operating Lease Area Of Lease
LesseeOperatingLeaseAreaOfLease
12300 sqft
crdf Lessee Operating Lease Monthly Rent Payment
LesseeOperatingLeaseMonthlyRentPayment
60000 usd
crdf Lessee Operating Lease Annual Rent Increase Percentage
LesseeOperatingLeaseAnnualRentIncreasePercentage
0.03
crdf Lessor Number Of Subleases
LessorNumberOfSubleases
3 lease
crdf Lessor Area Of Sublease
LessorAreaOfSublease
16600 sqft
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
190000 usd
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
92000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
381000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
187000 usd
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
0 usd
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
101000 usd
us-gaap Sublease Income
SubleaseIncome
0 usd
us-gaap Sublease Income
SubleaseIncome
202000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
190000 usd
CY2021Q2 us-gaap Lease Cost
LeaseCost
-9000 usd
us-gaap Lease Cost
LeaseCost
381000 usd
us-gaap Lease Cost
LeaseCost
-15000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2524000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2796000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
670000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
551000 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2306000 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2568000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2976000 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3119000 usd
CY2022Q2 crdf Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
137000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3499000 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
180000 usd
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
243000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
251000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
483000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
300000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
737000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
754000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
775000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
796000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
523000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2976000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1055000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1036000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2207000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1304000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3000000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1200000 usd
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3150000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
5150000 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3150000 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4490159 shares
CY2021Q4 crdf Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRights
5.80
CY2022Q1 crdf Class Of Warrant Or Right Term Of Outstanding Warrants Or Rights
ClassOfWarrantOrRightTermOfOutstandingWarrantsOrRights
P3Y
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4490159 shares
CY2022Q2 crdf Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRights
5.80
crdf Class Of Warrant Or Right Term Of Outstanding Warrants Or Rights
ClassOfWarrantOrRightTermOfOutstandingWarrantsOrRights
P2Y6M

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