2021 Q4 Form 10-Q Financial Statement

#000110820521000012 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $3.135M $3.039M $3.024M
YoY Change 3.67% 10.83% -8.0%
Cost Of Revenue $157.0K $151.0K $150.0K
YoY Change 4.67% 7.86% -6.25%
Gross Profit $2.978M $2.888M $2.870M
YoY Change 3.76% 10.65% -8.31%
Gross Profit Margin 94.99% 95.03% 94.91%
Selling, General & Admin $4.773M $4.334M $3.540M
YoY Change 34.83% 66.05% 18.0%
% of Gross Profit 160.28% 150.07% 123.34%
Research & Development $10.77M $8.602M $5.610M
YoY Change 92.01% 82.83% -24.8%
% of Gross Profit 361.72% 297.85% 195.47%
Depreciation & Amortization $38.00K $36.00K $20.00K
YoY Change 90.0% -40.0% -33.33%
% of Gross Profit 1.28% 1.25% 0.7%
Operating Expenses $15.55M $8.602M $9.150M
YoY Change 69.89% 82.83% -12.52%
Operating Profit -$12.57M -$10.05M -$6.275M
YoY Change 100.27% 113.29% -14.44%
Interest Expense $53.00K $54.00K $10.00K
YoY Change 430.0% -90.0%
% of Operating Profit
Other Income/Expense, Net -$1.106M -$1.003M -$1.250M
YoY Change -11.52% -20.59% -9.42%
Pretax Income -$13.62M -$11.05M -$7.520M
YoY Change 81.12% 85.11% -12.66%
Income Tax
% Of Pretax Income
Net Earnings -$13.62M -$11.05M -$7.517M
YoY Change 81.19% 84.98% -12.68%
Net Earnings / Revenue -434.45% -363.64% -248.58%
Basic Earnings Per Share -$0.12
Diluted Earnings Per Share -$148.7K -$0.12 -$113.9K
COMMON SHARES
Basic Shares Outstanding 91.61M shares 91.60M shares 58.82M shares
Diluted Shares Outstanding 91.60M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $115.9M $128.9M $168.5M
YoY Change -31.23% 446.2% 721.95%
Cash & Equivalents $40.01M $53.02M $129.6M
Short-Term Investments $75.87M $75.88M $38.90M
Other Short-Term Assets $3.267M $3.088M $1.200M
YoY Change 172.25% 54.4% -7.69%
Inventory
Prepaid Expenses
Receivables $3.224M $2.959M $3.043M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $122.4M $135.0M $172.8M
YoY Change -29.16% 376.82% 590.93%
LONG-TERM ASSETS
Property, Plant & Equipment $505.0K $543.0K $663.0K
YoY Change -23.83% -21.98% 330.52%
Goodwill $8.982M $8.982M $9.000M
YoY Change -0.2% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $23.96M $20.92M $14.60M
YoY Change 64.14%
Other Assets $0.00 $0.00 $3.000K
YoY Change -100.0% -100.0% 0.0%
Total Long-Term Assets $39.93M $37.14M $31.61M
YoY Change 26.32% 113.27% 212.81%
TOTAL ASSETS
Total Short-Term Assets $122.4M $135.0M $172.8M
Total Long-Term Assets $39.93M $37.14M $31.61M
Total Assets $162.3M $172.1M $204.4M
YoY Change -20.58% 276.44% 482.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.417M $3.506M $4.166M
YoY Change 54.03% -18.9% -6.7%
Accrued Expenses $6.339M $5.310M $3.625M
YoY Change 74.87% 94.08% 89.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $557.0K
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $13.44M $9.473M $10.08M
YoY Change 33.33% 3.84% 54.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $334.0K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $0.00 $59.70M $334.0K
YoY Change -100.0% -7.44%
Total Long-Term Liabilities $0.00 $0.00 $668.0K
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.44M $9.473M $10.08M
Total Long-Term Liabilities $0.00 $0.00 $668.0K
Total Liabilities $71.59M $69.18M $73.69M
YoY Change -2.84% -6.92% 6.77%
SHAREHOLDERS EQUITY
Retained Earnings -$1.092B -$1.100B -$1.047B
YoY Change 4.34% 10.0% 2.94%
Common Stock $1.183B $1.182B $1.178B
YoY Change 0.47% 16.9% 19.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $90.71M $102.9M $130.7M
YoY Change
Total Liabilities & Shareholders Equity $162.3M $172.1M $204.4M
YoY Change -20.58% 276.44% 482.1%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income -$13.62M -$11.05M -$7.517M
YoY Change 81.19% 84.98% -12.68%
Depreciation, Depletion And Amortization $38.00K $36.00K $20.00K
YoY Change 90.0% -40.0% -33.33%
Cash From Operating Activities -$8.171M -$9.610M -$5.720M
YoY Change 42.85% 63.71% 2.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$20.00K
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$3.523M -$11.53M -$53.45M
YoY Change -93.41% -3570.78%
Cash From Investing Activities -$3.523M -$11.53M -$53.47M
YoY Change -93.41% 7106.25% -3549.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.312M -956.0K 165.2M
YoY Change -100.79% -116.43% -15687.74%
NET CHANGE
Cash From Operating Activities -8.171M -9.610M -5.720M
Cash From Investing Activities -3.523M -11.53M -53.47M
Cash From Financing Activities -1.312M -956.0K 165.2M
Net Change In Cash -13.01M -22.10M 106.0M
YoY Change -112.27% 10421.9% -2175.15%
FREE CASH FLOW
Cash From Operating Activities -$8.171M -$9.610M -$5.720M
Capital Expenditures $0.00 $0.00 -$20.00K
Free Cash Flow -$8.171M -$9.610M -$5.700M
YoY Change 43.35% 68.3% 1.79%

Facts In Submission

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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Payments To Acquire Property Plant And Equipment
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ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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16399000 USD
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24371000 USD
us-gaap Interest Paid Net
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InterestPaidNet
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cris Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued Value
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssuedValue
0 USD
cris Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued Value
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssuedValue
900000 USD
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Nature Of Operations
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Nature of Business<div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Curis, Inc. is a biotechnology company focused on the development of first-in-class and innovative therapeutics for the treatment of cancer. Throughout these Condensed Consolidated Financial Statements, Curis, Inc. and its wholly owned subsidiaries are collectively referred to as “the Company” or “Curis.”</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company conducts its research and development programs both internally and through strategic collaborations. The Company’s clinical stage drug candidates are:</span></div><div style="margin-top:6pt;padding-left:29.25pt;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">CA-4948, an orally available small molecule inhibitor of Interleukin-1 receptor-associated kinase 4 ("IRAK4"), which is currently undergoing testing in a Phase 1/2 open-label dose escalating clinical trial in patients with non-Hodgkin lymphomas, including those with myeloid Differentiation Primary Response Protein 88 (“MYD88”) alterations. The trial was amended to include a combination study of CA-4948 and ibrutinib, a BTK inhibitor, in patients with non-Hodgkin lymphomas for which the Company enrolled the first patient in February 2021. The Company is also conducting a separate Phase 1/2 open-label, single arm dose escalating and expansion trial in patients with acute myeloid leukemia (“AML”) and myelodysplastic syndromes (“MDS”). The study was amended in April 2021 to include dose escalation cohorts of CA-4948 in combination with azacitidine or venetoclax. In April 2021, CA-4948 was granted Orphan Drug Designation for the treatment of AML and MDS by the U.S. Food and Drug Administration ("FDA"). In June 2021, we reported updated preliminary clinical data from the Phase 1/2 study in patients with AML or MDS and announced the recommended Phase 2 dose for monotherapy dose expansion.</span></div><div style="margin-top:6pt;padding-left:29.25pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">CI-8993, a monoclonal antibody designed to antagonize the V-domain Ig suppressor of T cell activation (“VISTA”) signaling pathway. In June 2020, the Company announced that the FDA had cleared its Investigational New Drug (“IND”) application for CI-8993. In September 2020, enrollment for a Phase 1 trial in patients with solid tumors commenced. The Company has an option to license CI-8993 from ImmuNext, Inc. ("ImmuNext").</span></div><div style="margin-top:6pt;padding-left:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s pipeline also includes the following:</span></div><div style="margin-top:6pt;padding-left:29.25pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Fimepinostat, a small molecule that potently inhibits the activity of histone deacetylase and phosphotidyl-inositol 3 kinase enzymes, which has been granted Orphan Drug Designation and Fast Track Designation for the treatment of diffuse large B-cell lymphoma and nuclear protein in testis (NUT) midline carcinoma. The Company is currently evaluating future studies for fimepinostat.</span></div><div style="margin-top:6pt;padding-left:29.25pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">CA-170, a small molecule antagonist of VISTA and PDL1, for which the Company announced initial data from a clinical study in patients with mesothelioma, in conjunction with the Society of lmmunotherapy of Cancer conference in November 2019. Based on this data, no further patients will be enrolled in the study. The Company is currently evaluating future studies for CA-170.</span></div><div style="margin-top:9pt;padding-left:29.25pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">CA-327, a small molecule antagonist of TIM3 and PDL1, is a pre-IND stage oncology drug candidate.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is party to a collaboration with Genentech Inc. (“Genentech”), a member of the Roche Group, under which Genentech and F. Hoffmann-La Roche Ltd (“Roche”) are commercializing Erivedge® (vismodegib), a first-in-class orally administered small molecule Hedgehog signaling pathway antagonist. Erivedge is approved for the treatment of advanced basal cell carcinoma (“BCC”).</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In January 2015, the Company entered into an exclusive collaboration agreement with Aurigene Discovery Technologies Limited (“Aurigene”) for the discovery, development and commercialization of small molecule compounds in the areas of immuno-oncology and precision oncology, which was amended in September 2016 and February 2020. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">As of September 30, 2021, the Company had licensed four programs under the Aurigene collaboration.</span></div><div style="margin-top:6pt;padding-left:29.25pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">IRAK4 Program - a precision oncology program of small molecule inhibitors of IRAK4. The development candidate is CA-4948, an orally available small molecule inhibitor of IRAK4.</span></div><div style="margin-top:6pt;padding-left:29.25pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">PD1/VISTA Program - an immuno-oncology program of small molecule antagonists of PD1 and VISTA immune checkpoint pathways. The development candidate is CA-170, an orally available small molecule antagonist of VISTA and PDL1.</span></div><div style="margin-top:6pt;padding-left:29.25pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">PD1/TIM3 Program - an immuno-oncology program of small molecule antagonists of PD1 and TIM3 immune checkpoint pathways. The development candidate is CA-327, an orally available small molecule antagonist of PDL1 and TIM3.</span></div><div style="margin-top:9pt;padding-left:29.25pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The Company exercised its option to license a fourth program, which is an immuno-oncology program. </span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The COVID-19 pandemic has had and may continue to have an adverse effect on the Company’s business, financial condition, results of operations, and prospects. With respect to ongoing clinical trials, the anticipated timing of enrollment and the overall timelines of the trials have experienced delays and could be further delayed to the extent the Company experiences further delays in enrollment due to the COVID-19 pandemic. The Company’s ability to collect patient data in a timely fashion may also be impacted. The Company experienced delays in closing down its clinical trial sites related to its fimepinostat and CA-170 trials due to restrictions on non-essential workers imposed at those sites in response to COVID-19, which delayed the winding down of these trials. In addition, the Company and its collaborators, third-party contract manufacturers, contract research organizations and clinical sites could experience delays or disruptions in supply and release of product candidates and/or procuring items that are essential for the Company's research and development activities, including, for example, raw materials used in the manufacturing of its product candidates, basic medical and laboratory supplies used in its clinical trials or preclinical studies, or animals that are used for preclinical testing, in each case, for which there may be shortages or supply chain disruptions as a result of the pandemic. The Company cannot be certain what the overall impact of the COVID-19 pandemic will be on its business.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 obtain adequate financing to fund its operations; the Company’s ability to advance and expand its research and development programs; the impacts of the COVID-19 pandemic and responsive actions related thereto; the Company’s relationship with Aurigene to support development of 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 ability of the Company and its wholly owned subsidiary, Curis Royalty, LLC (“Curis Royalty”) to satisfy the terms of the royalty interest purchase agreement (the “Oberland Purchase Agreement”) with TPC Investments I LP and TPC Investments II LP (the “Purchasers”) each of which is a Delaware limited partnership managed by Oberland Capital Management, LLC, and Lind SA LLC (the “Agent”) a Delaware limited liability company managed by Oberland Capital Management, LLC, as collateral agent for 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; the Company’s ability to execute on its overall business strategies; and the Company’s ability to maintain its listing on the Nasdaq Global Market.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 support advancement of development candidates under the Company’s collaboration with Aurigene, as well as the Company’s ability to further develop programs under this collaboration; and Roche and Genentech’s ability to successfully commercialize Erivedge.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company will require substantial funds to maintain research and development programs and support operations. The Company has incurred net losses and negative cash flows from operations since its inception. As of September 30, 2021, the Company had an accumulated deficit of approximately $1.1 billion, and for the nine months ended September 30, 2021, the Company incurred a net loss of $31.8 million and used $29.4 million of cash in operations. The Company expects to continue to generate operating losses in the foreseeable future. The Company anticipates that its $149.8 million of existing cash, cash equivalents and investments at September 30, 2021 will be sufficient to fund operations for at least 12 months from the date of filing this Quarterly Report on Form 10-Q.</span></div><div style="margin-top:9pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 will 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.</span></div>
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Use of Estimates and Assumptions<div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Company’s Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosure of certain assets and liabilities at the balance sheet date. Such estimates include the performance obligations under the Company’s collaboration agreements; the estimated repayment term of the Company’s debt and related short- and long-term classification; the collectability of receivables; the carrying value of property and equipment and goodwill; and the assumptions used in the Company’s valuation of stock-based compensation and the value of certain investments and liabilities. Actual results may differ from such estimates.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These interim results are not necessarily indicative of results to be expected for a full year or subsequent interim periods.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The extent to which COVID-19 has had and may continue to have impacts on the Company’s business and financial results will depend on numerous evolving factors including, but not limited to: the magnitude and duration of the COVID-19 pandemic, the extent to which it has impacted and may continue to impact worldwide macroeconomic conditions including interest rates, employment rates and health insurance coverage, the speed of the anticipated recovery, and governmental and business responses to the pandemic. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of September 30, 2021 and through the date of this report. The Company’s future assessment of the magnitude and duration of the COVID-19 pandemic, as well as other factors, could result in material impacts to the Company’s consolidated financial statements in future reporting periods.</span></div>
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53700000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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24400000 USD
CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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4000 USD
CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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7000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
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cris Available For Sale Securities Weighted Average Maturity
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CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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53451000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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1000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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4000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
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P0Y7M6D
CY2021Q3 us-gaap Accrued Salaries Current
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CY2021Q3 cris Chemistry Manufacturing And Controls Costs
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1910000 USD
CY2020Q4 cris Chemistry Manufacturing And Controls Costs
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0 USD
CY2021Q3 us-gaap Accrued Professional Fees Current
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CY2020Q4 cris License Fees
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198000 USD
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305000 USD
CY2021Q3 us-gaap Accrued Liabilities Current
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5310000 USD
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CY2021Q3 us-gaap Operating Lease Liability
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CY2021Q3 us-gaap Operating Lease Right Of Use Asset
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CY2020Q4 us-gaap Operating Lease Liability
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CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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6600000 USD
CY2021Q3 us-gaap Operating Lease Expense
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300000 USD
us-gaap Operating Lease Expense
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CY2020Q3 us-gaap Operating Lease Expense
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400000 USD
us-gaap Operating Lease Expense
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1000000.0 USD
CY2021Q3 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P7Y
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
9300000 USD
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
300000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2000000.0 USD
cris Operating Lease One Time Payment Tenant Improvements
OperatingLeaseOneTimePaymentTenantImprovements
1100000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
0 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
200000 USD
CY2019Q1 cris Royalty Purchase Agreement Interest Rate
RoyaltyPurchaseAgreementInterestRate
0.076
CY2019Q1 cris Royalty Purchase Agreement Transaction Fees And Closing Costs
RoyaltyPurchaseAgreementTransactionFeesAndClosingCosts
600000 USD
CY2020Q4 cris Royalty Purchase Agreement Liability Carrying Value
RoyaltyPurchaseAgreementLiabilityCarryingValue
58235000 USD
cris Royalty Purchase Agreement Issuance Costs Capitalized Amortization
RoyaltyPurchaseAgreementIssuanceCostsCapitalizedAmortization
46000 USD
cris Royalty Purchase Agreement Accretion Expense
RoyaltyPurchaseAgreementAccretionExpense
3320000 USD
cris Payments Of Future Royalty Liability
PaymentsOfFutureRoyaltyLiability
6434000 USD
CY2021Q3 cris Royalty Purchase Agreement Liability Carrying Value
RoyaltyPurchaseAgreementLiabilityCarryingValue
55167000 USD
cris Collaboration Agreement Numberof Programs Licensed
CollaborationAgreementNumberofProgramsLicensed
4 program
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
101250000 shares
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
151875000 shares
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
151875000 shares
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
227812500 shares
cris Share Based Compensation Plans
ShareBasedCompensationPlans
2 plan
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8668005 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.71
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.21
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
85751 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.74
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y11M23D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1831850 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
115825 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
11.76
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10298279 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.77
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M2D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
47967000 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5689507 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.31
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y11M15D
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
29624000 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
9963214 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
3.73
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y6M21D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
46817000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.21
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.75
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.004
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.014
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.004
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.017
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.09
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.81
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
11400000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M7D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
500000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1464000000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
624000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3838000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1833000 USD

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cris-20210930.htm Edgar Link pending
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