2018 Q1 Form 10-K Financial Statement

#000110820518000005 Filed on March 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2017 Q3
Revenue $2.468M $3.262M $2.444M
YoY Change 15.81% 38.1% 38.94%
Cost Of Revenue $130.0K $170.0K $120.0K
YoY Change 18.18% 41.67% -99.34%
Gross Profit $2.340M $3.100M $2.320M
YoY Change 15.84% 38.39% -114.22%
Gross Profit Margin 94.81% 95.03% 94.93%
Selling, General & Admin $3.980M $3.310M $3.410M
YoY Change 12.75% -8.31% -27.14%
% of Gross Profit 170.09% 106.77% 146.98%
Research & Development $8.266M $6.920M $13.38M
YoY Change -38.96% -26.3% 97.35%
% of Gross Profit 353.25% 223.23% 576.81%
Depreciation & Amortization $50.00K $60.00K $70.00K
YoY Change -16.67% 20.0% 40.0%
% of Gross Profit 2.14% 1.94% 3.02%
Operating Expenses $8.266M $10.22M $13.38M
YoY Change -38.96% -21.45% 97.35%
Operating Profit -$9.908M -$7.127M -$14.47M
YoY Change -34.18% -33.78% -47.93%
Interest Expense $1.025M -$900.0K $1.109M
YoY Change 56.25% 57.89% 68.8%
% of Operating Profit
Other Income/Expense, Net -$839.0K $0.00 -$986.0K
YoY Change 21.77% 77.34%
Pretax Income -$10.75M -$8.030M -$15.46M
YoY Change -31.7% -29.13% -45.47%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$10.75M -$8.028M -$15.46M
YoY Change -31.73% -29.18% -45.47%
Net Earnings / Revenue -435.45% -246.11% -632.45%
Basic Earnings Per Share
Diluted Earnings Per Share -$325.3K -$244.6K -$527.6K
COMMON SHARES
Basic Shares Outstanding 165.6M shares 164.0M shares 143.9M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.50M $60.20M $69.20M
YoY Change -20.23% 35.28% 29.59%
Cash & Equivalents $24.74M $38.29M $49.84M
Short-Term Investments $23.70M $21.90M $19.40M
Other Short-Term Assets $900.0K $1.000M $1.400M
YoY Change -35.71% -23.08% 0.0%
Inventory
Prepaid Expenses
Receivables $2.491M $3.073M $2.456M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $51.85M $64.29M $73.00M
YoY Change -19.44% 33.39% 28.86%
LONG-TERM ASSETS
Property, Plant & Equipment $390.0K $366.0K $384.0K
YoY Change -4.88% -11.38% -5.42%
Goodwill $8.982M $8.982M $8.982M
YoY Change 0.0% -0.2% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.000K $3.000K $3.000K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $9.528M $9.504M $9.369M
YoY Change 1.42% -0.49% -1.83%
TOTAL ASSETS
Total Short-Term Assets $51.85M $64.29M $73.00M
Total Long-Term Assets $9.528M $9.504M $9.369M
Total Assets $61.38M $73.80M $82.37M
YoY Change -16.79% 27.78% 24.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.119M $5.423M $6.519M
YoY Change -13.31% -7.82% 28.94%
Accrued Expenses $1.983M $2.793M $2.528M
YoY Change 26.06% 2.5% 8.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.289M $5.886M $5.116M
YoY Change 108.14% 19.17% 0.24%
Total Short-Term Liabilities $14.39M $14.10M $14.16M
YoY Change 31.07% 4.1% 13.45%
LONG-TERM LIABILITIES
Long-Term Debt $32.46M $35.67M $37.76M
YoY Change -21.42% 139.05% 139.0%
Other Long-Term Liabilities $63.00K $34.00K $0.00
YoY Change 88.89% -100.0%
Total Long-Term Liabilities $32.52M $35.70M $37.76M
YoY Change -21.26% 138.99% 138.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.39M $14.10M $14.16M
Total Long-Term Liabilities $32.52M $35.70M $37.76M
Total Liabilities $46.91M $49.81M $51.92M
YoY Change -10.27% 74.84% 83.32%
SHAREHOLDERS EQUITY
Retained Earnings -$963.0M -$952.3M -$944.2M
YoY Change 5.28% 5.93% 6.38%
Common Stock $977.5M $977.8M $976.2M
YoY Change 4.24% 5.17% 5.31%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $1.524M $1.524M
YoY Change -100.0% 0.0% 0.0%
Treasury Stock Shares 0.000 shares 244.6K shares 1.223M shares
Shareholders Equity $14.47M $23.99M $30.45M
YoY Change
Total Liabilities & Shareholders Equity $61.38M $73.80M $82.37M
YoY Change -16.79% 27.78% 24.44%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$10.75M -$8.028M -$15.46M
YoY Change -31.73% -29.18% -45.47%
Depreciation, Depletion And Amortization $50.00K $60.00K $70.00K
YoY Change -16.67% 20.0% 40.0%
Cash From Operating Activities -$9.964M -$7.510M -$16.48M
YoY Change -34.23% -20.02% 117.41%
INVESTING ACTIVITIES
Capital Expenditures $77.00K -$40.00K -$20.00K
YoY Change 48.08% -33.33% 100.0%
Acquisitions
YoY Change
Other Investing Activities -$1.700M -$2.530M $4.960M
YoY Change -2528.57% -117.92% -75.49%
Cash From Investing Activities -$1.773M -$2.570M $4.930M
YoY Change -8965.0% -118.28% -75.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.815M -1.470M 34.71M
YoY Change -105.76% -313.04% -5698.39%
NET CHANGE
Cash From Operating Activities -$9.964M -7.510M -16.48M
Cash From Investing Activities -$1.773M -2.570M 4.930M
Cash From Financing Activities -$1.815M -1.470M 34.71M
Net Change In Cash -$13.55M -11.55M 23.16M
YoY Change -182.74% -315.49% 92.68%
FREE CASH FLOW
Cash From Operating Activities -$9.964M -$7.510M -$16.48M
Capital Expenditures $77.00K -$40.00K -$20.00K
Free Cash Flow -$10.04M -$7.470M -$16.46M
YoY Change -33.95% -19.94% 117.44%

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CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.11
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.05
CY2017 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.36
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.397
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.497
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.589
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-1.044
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.004
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.005
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.008
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.002
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.052
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.051
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.050
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.044
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
-0.105
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
-0.109
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.014
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.013
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.027
CY2017Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
7400000 USD
CY2015 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
22000 USD
CY2016 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0 USD
CY2017 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0 USD
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12906000 USD
CY2016 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15588000 USD
CY2017 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14066000 USD
CY2016Q4 us-gaap Goodwill
Goodwill
8982000 USD
CY2016Q4 us-gaap Goodwill
Goodwill
9000000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
9000000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
8982000 USD
CY2015 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2016 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2017 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1774000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2315000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-376000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
145000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
353000 USD
CY2017 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
614000 USD
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
726000 USD
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
85000 USD
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-267000 USD
CY2015 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-14000 USD
CY2016 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
0 USD
CY2017 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
0 USD
CY2015 us-gaap Interest Expense
InterestExpense
3325000 USD
CY2016 us-gaap Interest Expense
InterestExpense
2777000 USD
CY2017 us-gaap Interest Expense
InterestExpense
3966000 USD
CY2015 us-gaap Interest Paid
InterestPaid
3303000 USD
CY2016 us-gaap Interest Paid
InterestPaid
2787000 USD
CY2017 us-gaap Interest Paid
InterestPaid
3942000 USD
CY2016Q4 us-gaap Interest Payable Current
InterestPayableCurrent
194000 USD
CY2017Q4 us-gaap Interest Payable Current
InterestPayableCurrent
193000 USD
CY2015 us-gaap Investment Income Interest
InvestmentIncomeInterest
277000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-10763000 USD
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
-58039000 USD
CY2016 us-gaap Investment Income Interest
InvestmentIncomeInterest
406000 USD
CY2017 us-gaap Investment Income Interest
InvestmentIncomeInterest
513000 USD
CY2016Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
18447000 USD
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
600000 USD
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
600000 USD
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
700000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
28486000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
49805000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
57752000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
73798000 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
13547000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
14102000 USD
CY2017Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0 USD
CY2016Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
4939000 USD
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5900000 USD
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5886000 USD
CY2016Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
14921000 USD
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
35669000 USD
CY2017Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
21944000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
61663000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1366000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
64235000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6428000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
30124000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3630000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-29891000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-35811000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-48355000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
-58981000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-9441000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-11290000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-28345000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-11335000 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
-60411000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-15742000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-14090000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-15457000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
-8028000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
-53317000 USD
CY2017 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
-56481000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-8807000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-10680000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-27789000 USD
CY2015 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2500000 USD
CY2016 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2372000 USD
CY2017 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3557000 USD
CY2015 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2016 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2017 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
192000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-15053000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-13109000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-14471000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-7127000 USD
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
-49760000 USD
CY2015 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
123240000 USD
CY2015 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
39000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-898948000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-952265000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
2104000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
935000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
168000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1001000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
348000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
265000 USD
CY2016 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-32000 USD
CY2017 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
2000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
39000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-32000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2000 USD
CY2015 us-gaap Other Income
OtherIncome
548000 USD
CY2016 us-gaap Other Income
OtherIncome
-1000 USD
CY2017 us-gaap Other Income
OtherIncome
-104000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
18000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
34000 USD
CY2015 us-gaap Revenues
Revenues
7878000 USD
CY2016Q1 us-gaap Revenues
Revenues
1726000 USD
CY2016Q2 us-gaap Revenues
Revenues
1680000 USD
CY2016Q3 us-gaap Revenues
Revenues
1759000 USD
CY2017 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
1138000 USD
CY2015 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
CY2016 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
CY2016 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
57639000 USD
CY2017 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
51121000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
48000 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
329000 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
188000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1257000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
989000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
64600000 USD
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
64620000 USD
CY2016 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2017 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
41546000 USD
CY2015 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
1206000 USD
CY2016 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
2907000 USD
CY2017 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
45000000 USD
CY2015 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
116822000 USD
CY2016 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
88092000 USD
CY2017 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
47679000 USD
CY2015 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
24000 USD
CY2016 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0 USD
CY2017 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2180000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2275000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
400000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
413000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
400000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
366000 USD
CY2015 us-gaap Repayments Of Debt
RepaymentsOfDebt
4163000 USD
CY2016 us-gaap Repayments Of Debt
RepaymentsOfDebt
4273000 USD
CY2017 us-gaap Repayments Of Debt
RepaymentsOfDebt
4954000 USD
CY2015 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
CY2016 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
CY2017 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
18303000 USD
CY2016 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18000000 USD
CY2015 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
26699000 USD
CY2016 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
31590000 USD
CY2017 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
45096000 USD
CY2015 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
24348000 USD
CY2016 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
17989000 USD
CY2017 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
0 USD
CY2016Q4 us-gaap Restricted Investments
RestrictedInvestments
200000 USD
CY2017Q4 us-gaap Restricted Investments
RestrictedInvestments
200000 USD
CY2016Q4 us-gaap Restricted Investments Noncurrent
RestrictedInvestmentsNoncurrent
153000 USD
CY2017Q4 us-gaap Restricted Investments Noncurrent
RestrictedInvestmentsNoncurrent
153000 USD
CY2015 us-gaap Royalty Expense
RoyaltyExpense
406000 USD
CY2016 us-gaap Royalty Expense
RoyaltyExpense
399000 USD
CY2017 us-gaap Royalty Expense
RoyaltyExpense
496000 USD
CY2015 us-gaap Royalty Revenue
RoyaltyRevenue
8031000 USD
CY2016 us-gaap Royalty Revenue
RoyaltyRevenue
7810000 USD
CY2017 us-gaap Royalty Revenue
RoyaltyRevenue
9849000 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
3875000 USD
CY2016Q4 us-gaap Revenues
Revenues
2362000 USD
CY2016 us-gaap Revenues
Revenues
7527000 USD
CY2017Q1 us-gaap Revenues
Revenues
2131000 USD
CY2017Q2 us-gaap Revenues
Revenues
2061000 USD
CY2017Q3 us-gaap Revenues
Revenues
2444000 USD
CY2017Q4 us-gaap Revenues
Revenues
3262000 USD
CY2017 us-gaap Revenues
Revenues
9898000 USD
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
4325000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
5359000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
644000 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.61
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.70
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.65
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.7
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.70
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.64
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.68
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.63
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.63
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.019
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.021
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.019
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.019
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.021
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.015
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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0.014
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3600000 USD
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CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CONCENTRATION OF RISK</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents, short- and long-term investments. The Company invests directly in commercial paper of financial institutions and corporations with A-/Aa3 or better long-term ratings and A-1/P-1 short term debt ratings and U.S. Treasury securities. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company&#8217;s credit risk related to investments is reduced as a result of the Company&#8217;s policy to limit the amount invested in any one issue.</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s accounts receivable at </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> represents amounts due from collaborators, primarily for royalties earned on sales of Erivedge by Genentech and Roche.</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company relies on third parties to supply certain raw materials necessary to produce its drug candidates, including CUDC-907, CA-170, CA-4948 and CA-327, for preclinical studies and clinical trials. There are a small number of suppliers for certain raw materials that the Company uses to manufacture its drug candidates.&#160;</font></div></div>
CY2017 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Nature of Business</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Curis, Inc. is a biotechnology company seeking to develop and commercialize innovative drug candidates for the treatment of human cancers. As used throughout these consolidated financial statements, the term &#8220;the Company&#8221; refers to the business of Curis, Inc. and its wholly owned subsidiaries, except where the context otherwise requires, and the term &#8220;Curis&#8221; refers to Curis, Inc.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company conducts its research and development programs both internally and through strategic collaborations. The Company&#8217;s clinical stage drug candidates are CUDC-907, which is being investigated in clinical studies in patients with MYC-altered diffuse large B-cell lymphoma and solid tumors, and CA-170, for which it is currently conducting a Phase 1 study in patients with advanced solid tumors and lymphomas, and CA-4948, for which, in January 2018 it initiated a Phase 1 trial in patients with advanced non-Hodgkin lymphomas, including those with MYD88 alterations. The Company&#8217;s pipeline also includes CA-327, which is a pre-IND stage oncology drug candidate. The Company expects to file an IND application with the FDA for clinical testing of CA-327 in 2018. The Company is party to a collaboration with F. Hoffmann-La Roche Ltd, or Roche, and Genentech Inc., or Genentech, a member of the Roche Group, under which Roche and Genentech are commercializing Erivedge, a first-in-class orally-administered small molecule Hedgehog signaling pathway inhibitor. Erivedge&#174; (vismodegib) is approved for the treatment of advanced basal cell carcinoma, or BCC.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2015, and as amended in September 2016, the Company entered into a collaboration, option and license agreement focused on immuno-oncology and selected precision oncology targets with Aurigene Discovery Technologies Limited, or Aurigene. In September 2016, the Company entered into an amendment to this agreement, pursuant to which Aurigene received </font><font style="font-family:inherit;font-size:10pt;">10,208,333</font><font style="font-family:inherit;font-size:10pt;"> shares of the Company's common stock in lieu of receiving up to </font><font style="font-family:inherit;font-size:10pt;">$24.5 million</font><font style="font-family:inherit;font-size:10pt;"> of milestone and other payments from Curis (see Note 3(b)).</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The collaboration with Aurigene is comprised of multiple programs, and Curis has the option to exclusively license each program, including data, intellectual property and compounds associated therewith, once a development candidate is nominated within such program. In October 2015, the Company exercised options to license </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> programs under this collaboration. The first licensed program is in the immuno-oncology field and the Company has named CA-170, an orally-available small molecule antagonist of two immune checkpoints, programmed death ligand-1 (PDL1) and V domain Ig suppressor of T-cell activation (VISTA), as the development candidate from this program. The second licensed program is in the precision oncology field and the Company has named CA-4948, an orally-available small molecule inhibitor of Interleukin-1 receptor-associated kinase 4 (IRAK4) as the development candidate. In October 2016, the Company exercised its option to license a third program in the collaboration, and designated CA-327, a distinct orally available small molecule antagonist of two immune checkpoints PDL1 and T-cell immunoglobulin and mucin domain containing protein-3 (TIM3) as the development candidate from this program. In March 2018, we exercised the option to license a fourth program, which is an immuno-oncology program. </font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company operates in a single reportable segment, which is the research and development of innovative cancer therapeutics. The Company expects that any products that are successfully developed and commercialized would be used in the healthcare industry and would be regulated in the United States by the FDA and in overseas markets by similar regulatory authorities.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is subject to risks common to companies in the biotechnology industry as well as risks that are specific to the Company&#8217;s business, including, but not limited to: the Company&#8217;s ability to advance and expand its research and development programs; the Company&#8217;s reliance on Aurigene to successfully discover and preclinically develop drug candidates under the parties&#8217; collaboration agreement; the Company&#8217;s reliance on Roche and Genentech to successfully commercialize Erivedge in the approved indication of advanced BCC and to progress its clinical development in indications other than BCC; the Company&#8217;s ability to obtain adequate financing to fund its operations; the ability of the Company and its wholly owned subsidiary, Curis Royalty, LLC, or Curis Royalty, to satisfy the terms of its credit agreement with HealthCare Royalty Partners III, L.P, a Delaware limited partnership managed by HealthCare Royalty Management, LLC, or HealthCare Royalty; the Company&#8217;s ability to obtain and maintain necessary intellectual property protection; development by the Company&#8217;s competitors of new or better technological innovations; dependence on key personnel; the Company&#8217;s ability to comply with regulatory requirements; and the Company&#8217;s ability to execute on its overall business strategies.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s future operating results will largely depend on the progress of drug candidates currently in its development pipeline and the magnitude of payments that it may receive and makes under its current and potential future collaborations. The results of the Company&#8217;s operations may vary significantly from year to year and quarter to quarter and depend on a number of factors, including, but not limited to: the timing, outcome and cost of the Company&#8217;s preclinical studies and clinical trials for its drug candidates; Aurigene&#8217;s ability to successfully discover and develop preclinical programs under the Company&#8217;s collaboration with Aurigene, as well as the Company&#8217;s decision to exclusively license and further develop programs under this collaboration; Roche and Genentech&#8217;s ability to successfully commercialize Erivedge; and positive results in Roche and Genentech&#8217;s ongoing clinical trials.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has incurred losses and negative cash flows from operations since its inception. As of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, the Company had an accumulated deficit of approximately </font><font style="font-family:inherit;font-size:10pt;">$952.3 million</font><font style="font-family:inherit;font-size:10pt;">. The Company anticipates that its </font><font style="font-family:inherit;font-size:10pt;">$60.2 million</font><font style="font-family:inherit;font-size:10pt;"> of existing cash, cash equivalents and investments at </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> should enable it to maintain its planned operations for at least the next twelve months from the issuance date of the financial statements. We will need to raise additional capital or incur indebtedness to continue to fund our operations in the future. The Company&#8217;s ability to raise additional funds will depend, among other factors, on financial, economic and market conditions, many of which are outside of its control and it may be unable to raise financing when needed, or on terms favorable to the Company.&#160;If necessary funds are not available, we may have to delay, reduce the scope of, or eliminate some of our development programs, potentially delaying the time to market for any of our product candidates.</font></div></div>
CY2017 us-gaap Revenue Recognition Multiple Element Arrangements
RevenueRecognitionMultipleElementArrangements
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;padding-left:42px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">License Fees and Multiple Element Arrangements</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-refundable license fees are recognized as revenue when the Company has a contractual right to receive such payment, the contract price is fixed or determinable, the collection of the resulting receivable is reasonably assured and the Company has no further performance obligations under the license agreement. Multiple element arrangements, such as license and development arrangements are analyzed to determine whether the deliverables, which often include a license and performance obligations such as research and steering committee services, can be separated or whether they must be accounted for as a single unit of accounting in accordance with generally accepted accounting principles, or GAAP. The Company recognizes up-front license payments as revenue upon delivery of the license only if the license has stand-alone value. If the license is considered not to have stand-alone value, the arrangement would then be accounted for as a single unit of accounting and the license payments and payments for performance obligations are recognized as revenue over the estimated period of when the performance obligations are performed.</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">If the Company is involved in a steering committee as part of a multiple element arrangement, the Company assesses whether its involvement constitutes a performance obligation or a right to participate. Steering committee services that are determined to be performance obligations are combined with other research services or performance obligations required under an arrangement, if any, in determining the level of effort required in an arrangement and the period over which the Company expects to complete its aggregate performance obligations.</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Whenever the Company determines that an arrangement should be accounted for as a single unit of accounting, it must determine the period over which the performance obligations will be performed and revenue will be recognized. Revenue will be recognized using either a relative performance or straight-line method. The Company recognizes revenue using the relative performance method provided that the Company can reasonably estimate the level of effort required to complete its performance obligations under an arrangement and such performance obligations are provided on a best-efforts basis. Direct labor hours or full-time equivalents are typically used as the measure of performance. Revenue recognized under the relative performance method would be determined by multiplying the total payments under the contract, excluding royalties and payments contingent upon achievement of substantive milestones, by the ratio of level of effort incurred to date to estimated total level of effort required to complete the Company&#8217;s performance obligations under the arrangement. Revenue is limited to the lesser of the cumulative amount of payments received or the cumulative amount of revenue earned, as determined using the relative performance method, as of each reporting period.</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">If the Company cannot reasonably estimate the level of effort required to complete its performance obligations under an arrangement, the performance obligations are provided on a best-efforts basis and the Company can reasonably estimate when the performance obligation ceases or the remaining obligations become inconsequential and perfunctory, then the total payments under the arrangement, excluding royalties and payments contingent upon achievement of substantive milestones, would be recognized as revenue on a straight-line basis over the period the Company expects to complete its performance obligations. Revenue is limited to the lesser of the cumulative amount of payments received or the cumulative amount of revenue earned, as determined using the straight-line basis, as of the period ending date.</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">If the Company cannot reasonably estimate when its performance obligation either ceases or becomes inconsequential and perfunctory, then revenue is deferred until the Company can reasonably estimate when the performance obligation ceases or becomes inconsequential. Revenue is then recognized over the remaining estimated period of performance.</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Significant management judgment is required in determining the level of effort required under an arrangement and the period over which the Company is expected to complete its performance obligations under an arrangement.</font></div></div>
CY2017 us-gaap Revenue Recognition Services Royalty Fees
RevenueRecognitionServicesRoyaltyFees
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Royalty Revenue</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Since the first quarter of 2012, the Company has recognized royalty revenues related to Genentech&#8217;s and Roche&#8217;s sales of Erivedge. Royalty revenue is recognized upon the sale of the related products based on contractual terms, provided that the royalty amounts are fixed or determinable, collection of the related receivable is reasonably assured and the Company has no remaining performance obligations under the arrangement. If royalties are received when the Company has remaining performance obligations, it expects to attribute the royalty payments to the services being provided under the arrangement and therefore to recognize such royalty payments as such performance obligations are performed under either the relative performance or straight-line methods, as applicable, and in accordance with these policies as described above. The Company expects to recognize royalty revenue in future quarters from Genentech&#8217;s sales of Erivedge in the U.S. and in other markets where Genentech and Roche successfully obtain marketing approval, if any (see Notes&#160;3(a) and&#160;9). However, Erivedge royalties will service Curis Royalty&#8217;s debt until this debt is repaid in full (see Note 9).</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">USE OF ESTIMATES</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the Company&#8217;s consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts and disclosure of revenue, expenses and certain assets and liabilities at the balance sheet date. Such estimates include revenue recognition, including estimates of the performance obligations under the Company&#8217;s collaboration agreements; the estimated repayment term of the Company&#8217;s debt and related short- and long-term classification; the collectability of receivables; the carrying value of property and equipment and intangible assets; the assumptions used in the Company&#8217;s valuation of stock-based compensation and the value of certain investments and liabilities. Actual results may differ from such estimates.</font></div></div>

Files In Submission

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