2019 Q2 Form 10-Q Financial Statement
#000110820519000008 Filed on May 14, 2019
Income Statement
| Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
|---|---|---|---|
| Revenue | $2.094M | $1.767M | $2.468M |
| YoY Change | -11.2% | -28.4% | 15.81% |
| Cost Of Revenue | $90.00K | $110.0K | $130.0K |
| YoY Change | -30.77% | -15.38% | 18.18% |
| Gross Profit | $2.010M | $1.660M | $2.340M |
| YoY Change | -9.46% | -29.06% | 15.84% |
| Gross Profit Margin | 95.99% | 93.94% | 94.81% |
| Selling, General & Admin | $2.530M | $3.140M | $3.980M |
| YoY Change | -30.3% | -21.11% | 12.75% |
| % of Gross Profit | 125.87% | 189.16% | 170.09% |
| Research & Development | $5.620M | $4.074M | $8.266M |
| YoY Change | -12.88% | -50.71% | -38.96% |
| % of Gross Profit | 279.6% | 245.42% | 353.25% |
| Depreciation & Amortization | $30.00K | $40.00K | $50.00K |
| YoY Change | -40.0% | -20.0% | -16.67% |
| % of Gross Profit | 1.49% | 2.41% | 2.14% |
| Operating Expenses | $5.620M | $4.074M | $8.266M |
| YoY Change | -12.88% | -50.71% | -38.96% |
| Operating Profit | -$6.141M | -$5.558M | -$9.908M |
| YoY Change | -21.87% | -43.9% | -34.18% |
| Interest Expense | $0.00 | $791.0K | $1.025M |
| YoY Change | -100.0% | -22.83% | 56.25% |
| % of Operating Profit | |||
| Other Income/Expense, Net | -$1.072M | -$4.326M | -$839.0K |
| YoY Change | 33.33% | 415.61% | 21.77% |
| Pretax Income | -$7.210M | -$9.880M | -$10.75M |
| YoY Change | -16.74% | -8.09% | -31.7% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$7.213M | -$9.884M | -$10.75M |
| YoY Change | -16.75% | -8.03% | -31.73% |
| Net Earnings / Revenue | -344.46% | -559.37% | -435.45% |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$217.5K | -$298.0K | -$325.3K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 33.15M shares | 33.15M shares | 165.6M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $35.30M | $42.80M | $48.50M |
| YoY Change | -12.62% | -11.75% | -20.23% |
| Cash & Equivalents | $27.20M | $42.77M | $24.74M |
| Short-Term Investments | $8.100M | $0.00 | $23.70M |
| Other Short-Term Assets | $1.000M | $900.0K | $900.0K |
| YoY Change | 25.0% | 0.0% | -35.71% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $2.134M | $1.786M | $2.491M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $38.42M | $45.42M | $51.85M |
| YoY Change | -12.08% | -12.41% | -19.44% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $234.0K | $226.0K | $390.0K |
| YoY Change | -33.52% | -42.05% | -4.88% |
| Goodwill | $8.982M | $8.982M | $8.982M |
| YoY Change | 0.0% | 0.0% | 0.0% |
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $2.000K | $3.000K | $3.000K |
| YoY Change | -33.33% | 0.0% | 0.0% |
| Total Long-Term Assets | $9.816M | $10.03M | $9.528M |
| YoY Change | 3.44% | 5.3% | 1.42% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $38.42M | $45.42M | $51.85M |
| Total Long-Term Assets | $9.816M | $10.03M | $9.528M |
| Total Assets | $48.24M | $55.45M | $61.38M |
| YoY Change | -9.31% | -9.66% | -16.79% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $2.163M | $2.333M | $5.119M |
| YoY Change | -49.4% | -54.42% | -13.31% |
| Accrued Expenses | $1.573M | $1.420M | $1.983M |
| YoY Change | -51.79% | -28.39% | 26.06% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $0.00 | $0.00 | $7.289M |
| YoY Change | -100.0% | -100.0% | 108.14% |
| Total Short-Term Liabilities | $4.382M | $4.631M | $14.39M |
| YoY Change | -69.79% | -67.82% | 31.07% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $32.46M |
| YoY Change | -100.0% | -100.0% | -21.42% |
| Other Long-Term Liabilities | $0.00 | $0.00 | $63.00K |
| YoY Change | -100.0% | -100.0% | |
| Total Long-Term Liabilities | $0.00 | $0.00 | $32.52M |
| YoY Change | -100.0% | -100.0% | -21.26% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $4.382M | $4.631M | $14.39M |
| Total Long-Term Liabilities | $0.00 | $0.00 | $32.52M |
| Total Liabilities | $68.51M | $69.18M | $46.91M |
| YoY Change | 48.67% | 47.46% | -10.27% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$1.002B | -$994.7M | -$963.0M |
| YoY Change | 3.11% | 3.29% | 5.28% |
| Common Stock | $981.7M | $981.0M | $977.5M |
| YoY Change | 0.29% | 0.36% | 4.24% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $0.00 | ||
| YoY Change | -100.0% | ||
| Treasury Stock Shares | 0.000 shares | ||
| Shareholders Equity | -$20.27M | -$13.73M | $14.47M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $48.24M | $55.45M | $61.38M |
| YoY Change | -9.31% | -9.66% | -16.79% |
Cashflow Statement
| Concept | 2019 Q2 | 2019 Q1 | 2018 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$7.213M | -$9.884M | -$10.75M |
| YoY Change | -16.75% | -8.03% | -31.73% |
| Depreciation, Depletion And Amortization | $30.00K | $40.00K | $50.00K |
| YoY Change | -40.0% | -20.0% | -16.67% |
| Cash From Operating Activities | -$6.670M | -$7.233M | -$9.964M |
| YoY Change | -3.89% | -27.41% | -34.23% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$40.00K | $0.00 | $77.00K |
| YoY Change | -100.0% | 48.08% | |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$8.020M | $600.0K | -$1.700M |
| YoY Change | -158.03% | -135.29% | -2528.57% |
| Cash From Investing Activities | -$8.060M | $600.0K | -$1.773M |
| YoY Change | -158.36% | -133.84% | -8965.0% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $0.00 | $0.00 | |
| YoY Change | -100.0% | ||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -820.0K | $25.76M | -$1.815M |
| YoY Change | -28.07% | -1519.45% | -105.76% |
| NET CHANGE | |||
| Cash From Operating Activities | -6.670M | -$7.233M | -$9.964M |
| Cash From Investing Activities | -8.060M | $600.0K | -$1.773M |
| Cash From Financing Activities | -820.0K | $25.76M | -$1.815M |
| Net Change In Cash | -15.55M | $19.13M | -$13.55M |
| YoY Change | -371.38% | -241.16% | -182.74% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$6.670M | -$7.233M | -$9.964M |
| Capital Expenditures | -$40.00K | $0.00 | $77.00K |
| Free Cash Flow | -$6.630M | -$7.233M | -$10.04M |
| YoY Change | -4.47% | -27.97% | -33.95% |
Facts In Submission
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|
332000 | USD |
| CY2018Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-10751000 | USD |
| CY2019Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-9884000 | USD |
| CY2018Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
12376000 | USD |
| CY2019Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
7325000 | USD |
| CY2019Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
0 | USD |
| CY2018Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
53000 | USD |
| CY2019Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
35000 | USD |
| CY2018Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.33 | |
| CY2019Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.30 | |
| CY2019Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
3900000 | USD |
| CY2019Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P2Y8M15D | |
| CY2018Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
0 | USD |
| CY2019Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-5000 | USD |
| CY2018Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
0 | USD |
| CY2019Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-3495000 | USD |
| CY2018Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
3981000 | USD |
| CY2019Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
3143000 | USD |
| CY2018Q4 | us-gaap |
Goodwill
Goodwill
|
8982000 | USD |
| CY2019Q1 | us-gaap |
Goodwill
Goodwill
|
8982000 | USD |
| CY2018Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-1086000 | USD |
| CY2019Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-2895000 | USD |
| CY2018Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-582000 | USD |
| CY2019Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-1078000 | USD |
| CY2018Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-80000 | USD |
| CY2019Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-146000 | USD |
| CY2018Q1 | us-gaap |
Interest Expense
InterestExpense
|
1025000 | USD |
| CY2019Q1 | us-gaap |
Interest Expense
InterestExpense
|
808000 | USD |
| CY2018Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
165000 | USD |
| CY2019Q1 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
0 | USD |
| CY2018Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
186000 | USD |
| CY2019Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
108000 | USD |
| CY2018Q1 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
200000 | USD |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
922000 | USD |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
168000 | USD |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
754000 | USD |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
44000 | USD |
| CY2010Q4 | us-gaap |
Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
|
P5Y | |
| CY2017Q4 | us-gaap |
Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
|
P2Y | |
| CY2018Q4 | us-gaap |
Liabilities
Liabilities
|
41861000 | USD |
| CY2019Q1 | us-gaap |
Liabilities
Liabilities
|
69178000 | USD |
| CY2018Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
37365000 | USD |
| CY2019Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
55449000 | USD |
| CY2018Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
13250000 | USD |
| CY2019Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
4631000 | USD |
| CY2018Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
6884000 | USD |
| CY2019Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
0 | USD |
| CY2018Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
28600000 | USD |
| CY2019Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
0 | USD |
| CY2018Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
634000 | USD |
| CY2019Q1 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
30000 | USD |
| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1815000 | USD |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
29134000 | USD |
| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1773000 | USD |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
600000 | USD |
| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-9964000 | USD |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-10604000 | USD |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-10600000 | USD |
| CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10747000 | USD |
| CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9900000 | USD |
| CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9884000 | USD |
| CY2018Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-9908000 | USD |
| CY2019Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-5558000 | USD |
| CY2019Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
200000 | USD |
| CY2019Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
878000 | USD |
| CY2019Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
878000 | USD |
| CY2019Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
822000 | USD |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
1170000 | USD |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
1002000 | USD |
| CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
168000 | USD |
| CY2018Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
285000 | USD |
| CY2019Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
228000 | USD |
| CY2018Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
2000 | USD |
| CY2019Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
3000 | USD |
| CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-4000 | USD |
| CY2018Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-4000 | USD |
| CY2019Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
0 | USD |
| CY2018Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
11000 | USD |
| CY2019Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
0 | USD |
| CY2018Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-839000 | USD |
| CY2019Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-4326000 | USD |
| CY2018Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
16746000 | USD |
| CY2019Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
0 | USD |
| CY2018Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
77000 | USD |
| CY2019Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
0 | USD |
| CY2018Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
827000 | USD |
| CY2019Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
681000 | USD |
| CY2018Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
15050000 | USD |
| CY2019Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
600000 | USD |
| CY2019Q1 | us-gaap |
Restricted Investments
RestrictedInvestments
|
200000 | USD |
| CY2018Q4 | us-gaap |
Restricted Investments Current
RestrictedInvestmentsCurrent
|
0 | USD |
| CY2019Q1 | us-gaap |
Restricted Investments Current
RestrictedInvestmentsCurrent
|
153000 | USD |
| CY2018Q4 | us-gaap |
Restricted Investments Noncurrent
RestrictedInvestmentsNoncurrent
|
153000 | USD |
| CY2019Q1 | us-gaap |
Restricted Investments Noncurrent
RestrictedInvestmentsNoncurrent
|
0 | USD |
| CY2018Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-984840000 | USD |
| CY2019Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-994700000 | USD |
| CY2019Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-994724000 | USD |
| CY2018Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
2468000 | USD |
| CY2018Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
267000 | USD |
| CY2019Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
226000 | USD |
| CY2018Q1 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
1815000 | USD |
| CY2019Q1 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
1825000 | USD |
| CY2018Q1 | us-gaap |
Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
|
0 | USD |
| CY2019Q1 | us-gaap |
Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
|
33791000 | USD |
| CY2018Q1 | us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
8266000 | USD |
| CY2019Q1 | us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
4074000 | USD |
| CY2018Q4 | us-gaap |
Restricted Investments
RestrictedInvestments
|
200000 | USD |
| CY2019Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
1767000 | USD |
| CY2018Q1 | us-gaap |
Royalty Expense
RoyaltyExpense
|
129000 | USD |
| CY2019Q1 | us-gaap |
Royalty Expense
RoyaltyExpense
|
108000 | USD |
| CY2018 | us-gaap |
Severance Costs1
SeveranceCosts1
|
300000 | USD |
| CY2018Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1226000 | USD |
| CY2019Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
651000 | USD |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
30000 | shares |
| CY2019Q1 | 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
|
0.82 | |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.66 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.76 | |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.025 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.026 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.025 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1760626 | shares |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
11.25 | |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
0 | USD |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
0 | USD |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
304312 | shares |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
1859998 | shares |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.04 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.76 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
1766878000 | USD |
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3714394 | shares |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5270080 | shares |
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
7.68 | |
| CY2019Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares |
| CY2018Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
0 | USD |
| CY2018Q1 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
3000000 | USD |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
5.32 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
|
5.82 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
1411312000 | USD |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
4621232 | shares |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0.00 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
8.70 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
1.15 | |
| CY2019Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
0 | USD |
| CY2019Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P4Y0M3D | |
| CY2019Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y5M8D | |
| CY2019Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P7Y2M4D | |
| CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23993000 | USD |
| CY2018Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
14468000 | USD |
| CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-4496000 | USD |
| CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-13729000 | USD |
| CY2018Q2 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.2 | |
| CY2018Q1 | us-gaap |
Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
|
1500000 | USD |
| CY2018Q1 | us-gaap |
Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
|
0 | USD |
| us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
244569 | shares | |
| CY2018Q1 | us-gaap |
Treasury Stock Shares Retired
TreasuryStockSharesRetired
|
244569 | shares |
| us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
1500000 | USD | |
| CY2018Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
33053702 | shares |
| CY2019Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
33150869 | shares |
| CY2019Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">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 focused on the development of first-in-class and innovative therapeutics for the treatment of cancer. As used throughout these consolidated financial statements, the term “the Company” refers to the business of Curis, Inc. and its wholly-owned subsidiaries, except where the context otherwise requires, and the term “Curis” 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’s clinical stage drug candidates are fimepinostat, CA-4948, and CA-170:</font></div><div style="line-height:120%;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fimepinostat is currently being explored in clinical studies in patients with MYC-altered diffuse large B-cell lymphoma (DLBCL) and solid tumors and has been granted Orphan Drug Designation and Fast Track Designation for the treatment of DLBCL by the U.S. Food and Drug Administration, or FDA in April 2015 and May 2018, respectively. The Company is planning a combination study with venetoclax in DLBCL patients with alterations in both MYC and the BCL2 gene, also referred to as double-hit lymphoma, with planned enrollment commencing in the first half of 2019. The Company expects to report initial clinical data from this combination study in the second half of 2019. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CA-4948 is being tested in a dose escalating clinical trial in patients with non-Hodgkin lymphomas, including those with myeloid differentiation primary response 88, or MYD88, alterations. The Company expects to report initial clinical data from this study in mid-year 2019. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CA-170 is currently undergoing testing in a clinical study in patients with mesothelioma. The Company announced in January 2019 that it had begun enrollment of these patients and expects to report initial clinical data from this study with respect to mesothelioma in the second half of 2019. </font></div></td></tr></table><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company’s pipeline also includes CA-327, which is a pre-Investigational New Drug ( “IND”) stage oncology drug candidate. 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 (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".</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 the Company 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, V-domain Ig suppressor of T-cell activation (VISTA) and programmed death ligand-1 (PDL1), 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, the Company exercised its 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’s business, including, but not limited to: the Company’s ability to advance and expand its research and development programs; the Company’s reliance on Aurigene to successfully discover and preclinically develop drug candidates under the parties’ collaboration agreement; the Company’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’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 the royalty interest purchase agreement, or the Oberland Purchase Agreement, with entities managed by Oberland Capital Management, LLC (the "Purchasers") the Company’s ability to obtain and maintain necessary intellectual property protection; development by the Company’s competitors of new or better technological innovations; the Company's dependence on key personnel; the Company’s ability to comply with regulatory requirements; the Company's ability to obtain and maintain applicable regulatory approvals and commercialize any approved product candidates, and the Company’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’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 make under its current and potential future collaborations. The results of the Company’s operations have varied and will likely continue to 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’s preclinical studies and clinical trials for its drug candidates; Aurigene’s ability to successfully discover and develop preclinical programs under the Company’s collaboration with Aurigene, as well as the Company’s decision to exclusively license and further develop programs under this collaboration; Roche and Genentech’s ability to successfully commercialize Erivedge; and positive results in Roche and Genentech’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;">March 31, 2019</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;">$994.7</font><font style="font-family:inherit;font-size:10pt;"> million, and for the quarter ended </font><font style="font-family:inherit;font-size:10pt;">March 31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company incurred a loss of </font><font style="font-family:inherit;font-size:10pt;">$9.9</font><font style="font-family:inherit;font-size:10pt;"> million and used </font><font style="font-family:inherit;font-size:10pt;">$10.6</font><font style="font-family:inherit;font-size:10pt;"> million of cash in operations. The Company expects to continue to generate operating losses in the foreseeable future. The Company anticipates that its </font><font style="font-family:inherit;font-size:10pt;">$42.8</font><font style="font-family:inherit;font-size:10pt;"> million of existing cash, cash equivalents and investments at </font><font style="font-family:inherit;font-size:10pt;">March 31, 2019</font><font style="font-family:inherit;font-size:10pt;"> will be sufficient to fund its operating expenses and capital requirements, based upon its current operating plan, for at least the next twelve months from the issuance date of these financial statements. The Company will need to raise additional capital or incur indebtedness to continue to fund its operations in the future. The Company’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. If necessary funds are not available, the Company may have to delay, reduce the scope of, or eliminate some of its development programs, potentially delaying the time to market for or preventing the marketing of any of its product candidates.</font></div></div> |
