2024 Q3 Form 10-Q Financial Statement

#000110820524000062 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $2.931M $2.546M
YoY Change 3.46% 15.89%
Cost Of Revenue $22.00K $12.00K
YoY Change -63.33% -83.78%
Gross Profit $2.909M $2.534M
YoY Change 5.02% 19.36%
Gross Profit Margin 99.25% 99.53%
Selling, General & Admin $3.753M $4.792M
YoY Change -21.16% 12.78%
% of Gross Profit 129.01% 189.11%
Research & Development $9.723M $10.25M
YoY Change -6.33% 2.42%
% of Gross Profit 334.24% 404.66%
Depreciation & Amortization $61.00K $62.00K
YoY Change 1.67% -3.13%
% of Gross Profit 2.1% 2.45%
Operating Expenses $9.723M $10.25M
YoY Change -6.33% 2.42%
Operating Profit -$10.57M -$12.51M
YoY Change -14.56% 3.08%
Interest Expense $325.0K $701.0K
YoY Change -59.88% -13.99%
% of Operating Profit
Other Income/Expense, Net $475.0K $709.0K
YoY Change 154.01% 300.56%
Pretax Income -$10.09M -$11.80M
YoY Change -17.14% -1.32%
Income Tax
% Of Pretax Income
Net Earnings -$10.09M -$11.80M
YoY Change -17.15% -1.32%
Net Earnings / Revenue -344.32% -463.59%
Basic Earnings Per Share -$1.70 -$2.03
Diluted Earnings Per Share -$1.70 -$2.03
COMMON SHARES
Basic Shares Outstanding 5.979M shares 5.894M shares
Diluted Shares Outstanding 5.941M shares 5.818M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.85M $28.36M
YoY Change -69.56% -55.33%
Cash & Equivalents $20.85M $9.996M
Short-Term Investments $0.00 $18.36M
Other Short-Term Assets $3.105M $3.618M
YoY Change 47.86% 82.91%
Inventory
Prepaid Expenses
Receivables $2.978M $2.546M
Other Receivables $0.00 $0.00
Total Short-Term Assets $26.94M $34.52M
YoY Change -63.31% -49.12%
LONG-TERM ASSETS
Property, Plant & Equipment $246.0K $308.0K
YoY Change -50.5% -45.1%
Goodwill $8.982M $8.982M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.303M $2.303M
YoY Change -26.28% -9.29%
Total Long-Term Assets $15.54M $15.89M
YoY Change -6.12% -3.45%
TOTAL ASSETS
Total Short-Term Assets $26.94M $34.52M
Total Long-Term Assets $15.54M $15.89M
Total Assets $42.47M $50.41M
YoY Change -52.79% -40.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.818M $2.449M
YoY Change -26.87% -8.82%
Accrued Expenses $8.141M $6.741M
YoY Change 12.68% 16.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.03M $19.37M
YoY Change 60.74% 100.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $29.17M $31.74M
YoY Change -37.53% -34.42%
Total Long-Term Liabilities $29.17M $31.74M
YoY Change -37.53% -34.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.03M $19.37M
Total Long-Term Liabilities $29.17M $31.74M
Total Liabilities $51.21M $51.11M
YoY Change -15.2% -12.01%
SHAREHOLDERS EQUITY
Retained Earnings -$1.200B -$1.200B
YoY Change 0.0% 0.0%
Common Stock $1.221B $1.219B
YoY Change 0.6% 1.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$8.735M -$694.0K
YoY Change
Total Liabilities & Shareholders Equity $42.47M $50.41M
YoY Change -52.79% -40.2%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$10.09M -$11.80M
YoY Change -17.15% -1.32%
Depreciation, Depletion And Amortization $61.00K $62.00K
YoY Change 1.67% -3.13%
Cash From Operating Activities -$5.936M -$11.14M
YoY Change -27.43% 41.52%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $18.32M -$7.361M
YoY Change 10076.67% 133.39%
Cash From Investing Activities $18.32M -$7.361M
YoY Change 10076.67% 133.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.524M -1.464M
YoY Change -112.13% 71.83%
NET CHANGE
Cash From Operating Activities -5.936M -11.14M
Cash From Investing Activities 18.32M -7.361M
Cash From Financing Activities -1.524M -1.464M
Net Change In Cash 10.86M -19.96M
YoY Change 138.11% 68.1%
FREE CASH FLOW
Cash From Operating Activities -$5.936M -$11.14M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Increase Decrease In Operating Lease Liability
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CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Restricted Cash Noncurrent
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Nature Of Operations
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Nature of Business</span><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 emavusertib (CA-4948), an orally available, small molecule inhibitor of Interleukin-1 receptor associated kinase, or IRAK4. 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 is party to a collaboration agreement 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: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 is party to 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, including emavusertib.</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 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 continue as a going concern; the Company’s ability to advance and expand its research and development program for emavusertib; the Company’s ability to execute on its overall business strategies; 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 ability to comply with regulatory requirements; the Company’s ability to obtain and maintain applicable regulatory approvals and commercialize any approved drug candidates; and 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.</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’s future operating results will largely depend on the progress of emavusertib 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 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 will require substantial funds to maintain its research and development programs and support operations. The Company has incurred losses and cash outflows from operations since its inception. The Company had an accumulated deficit of $1.2 billion as of June 30, 2024, and incurred a net loss of $23.7 million and used $24.4 million of cash in operations for the six months ended June 30, 2024. The Company expects to continue to generate operating losses in the foreseeable future. </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 accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40), the Company has concluded there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the Condensed Consolidated Financial Statements are issued. Based on the Company's $28.4 million of existing cash, cash equivalents and investments at June 30, 2024, recurring losses and cash outflows from operations since inception, an expectation of continuing losses and cash outflows from operations for the foreseeable future and the need to raise additional capital to finance the Company's future operations, the Company concluded it does not have sufficient cash on hand to support current operations for the next 12 months from the date of filing this Quarterly Report on Form 10-Q. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. </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 plans to seek additional funding through a number of potential avenues, including private or public equity financings, collaborations, or other strategic transactions. The Company may not be able to obtain funding on acceptable terms, or at all. The terms of any financing may adversely affect the holdings or the rights of the Company’s stockholders. 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 its </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">development of emavusertib, potentially delaying the time to market for or preventing the marketing of emavusertib, which may have a material adverse effect on the Company’s operations and future prospects.</span></div>
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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10540000 usd
CY2024Q2 cris Accrued Issuance Costs
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us-gaap Increase Decrease In Operating Lease Liability
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CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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27225000 usd
us-gaap Nature Of Operations
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Nature of Business</span><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 emavusertib (CA-4948), an orally available, small molecule inhibitor of Interleukin-1 receptor associated kinase, or IRAK4. 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 is party to a collaboration agreement 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: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 is party to 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, including emavusertib.</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 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 continue as a going concern; the Company’s ability to advance and expand its research and development program for emavusertib; the Company’s ability to execute on its overall business strategies; 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 ability to comply with regulatory requirements; the Company’s ability to obtain and maintain applicable regulatory approvals and commercialize any approved drug candidates; and 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.</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’s future operating results will largely depend on the progress of emavusertib 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 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 will require substantial funds to maintain its research and development programs and support operations. The Company has incurred losses and cash outflows from operations since its inception. The Company had an accumulated deficit of $1.2 billion as of June 30, 2024, and incurred a net loss of $23.7 million and used $24.4 million of cash in operations for the six months ended June 30, 2024. The Company expects to continue to generate operating losses in the foreseeable future. </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 accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40), the Company has concluded there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the Condensed Consolidated Financial Statements are issued. Based on the Company's $28.4 million of existing cash, cash equivalents and investments at June 30, 2024, recurring losses and cash outflows from operations since inception, an expectation of continuing losses and cash outflows from operations for the foreseeable future and the need to raise additional capital to finance the Company's future operations, the Company concluded it does not have sufficient cash on hand to support current operations for the next 12 months from the date of filing this Quarterly Report on Form 10-Q. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. </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 plans to seek additional funding through a number of potential avenues, including private or public equity financings, collaborations, or other strategic transactions. The Company may not be able to obtain funding on acceptable terms, or at all. The terms of any financing may adversely affect the holdings or the rights of the Company’s stockholders. 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 its </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">development of emavusertib, potentially delaying the time to market for or preventing the marketing of emavusertib, which may have a material adverse effect on the Company’s operations and future prospects.</span></div>
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2024Q2 us-gaap Cash Cash Equivalents And Short Term Investments
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28400000 usd
us-gaap Use Of Estimates
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10.84pt">Use of Estimates and Assumptions</span><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 revenue, expenses and certain assets and liabilities at the balance sheet date. Such estimates include the performance obligations under the Company’s collaboration agreements; the collectability of receivables; and the value of certain investments and liabilities. Actual results may differ from such estimates. These interim results are not necessarily indicative of results to be expected for a full year or subsequent interim periods.</span></div>
us-gaap Use Of Estimates
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10.84pt">Use of Estimates and Assumptions</span><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 revenue, expenses and certain assets and liabilities at the balance sheet date. Such estimates include the performance obligations under the Company’s collaboration agreements; the collectability of receivables; and the value of certain investments and liabilities. Actual results may differ from such estimates. These interim results are not necessarily indicative of results to be expected for a full year or subsequent interim periods.</span></div>
CY2024Q2 us-gaap Restricted Cash
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CY2023Q4 us-gaap Available For Sale Securities Debt Securities
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CY2023 cris Available For Sale Securities Weighted Average Maturity
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CY2024Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
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CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
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CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
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CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2023Q4 us-gaap Available For Sale Securities Debt Securities
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CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
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CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
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CY2024Q2 cris Increase Decrease In Operating Lease Right Of Use Asset
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CY2024Q2 us-gaap Operating Lease Liability
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CY2024Q2 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Operating Lease Liability
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us-gaap Operating Lease Expense
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CY2023Q2 us-gaap Operating Lease Payments
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CY2024Q2 us-gaap Operating Lease Payments
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400000 usd
us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2019Q1 cris Royalty Purchase Agreement Transaction Fees And Closing Costs
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600000 usd
CY2023Q4 cris Royalty Purchase Agreement Liability Carrying Value
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cris Royalty Purchase Agreement Other
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cris Payments Of Future Royalty Liability
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4161000 usd
CY2024Q2 cris Royalty Purchase Agreement Liability Carrying Value
RoyaltyPurchaseAgreementLiabilityCarryingValue
38359000 usd
cris Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
1400000 usd
CY2024Q2 cris Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
1400000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3600000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3800000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2800000 usd
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
800000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
700000 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
400000 usd
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
400000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
800000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
700000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10
CY2019Q1 cris Royalty Purchase Agreement Interest Rate
RoyaltyPurchaseAgreementInterestRate
0
CY2019Q1 cris Royalty Purchase Agreement Transaction Fees And Closing Costs
RoyaltyPurchaseAgreementTransactionFeesAndClosingCosts
600000 usd
CY2023Q4 cris Royalty Purchase Agreement Liability Carrying Value
RoyaltyPurchaseAgreementLiabilityCarryingValue
42606000 usd
cris Royalty Purchase Agreement Other
RoyaltyPurchaseAgreementOther
-86000 usd
cris Payments Of Future Royalty Liability
PaymentsOfFutureRoyaltyLiability
4161000 usd
CY2024Q2 cris Royalty Purchase Agreement Liability Carrying Value
RoyaltyPurchaseAgreementLiabilityCarryingValue
38359000 usd
CY2024Q1 cris Royalty Guarantees Commitments Amount Current
RoyaltyGuaranteesCommitmentsAmountCurrent
8793000 usd
CY2024Q1 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
31329000 usd
CY2023Q4 cris Royalty Guarantees Commitments Amount Current
RoyaltyGuaranteesCommitmentsAmountCurrent
8504000 usd
CY2023Q4 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
34102000 usd
CY2022Q4 cris Royalty Guarantees Commitments Amount Current
RoyaltyGuaranteesCommitmentsAmountCurrent
6257000 usd
CY2022Q4 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
43226000 usd
cris Collaboration Agreement Numberof Programs Licensed
CollaborationAgreementNumberofProgramsLicensed
4 program
CY2024Q1 cris Royalty Guarantees Commitments Amount Current
RoyaltyGuaranteesCommitmentsAmountCurrent
8793000 usd
CY2024Q1 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
31329000 usd
CY2023Q4 cris Royalty Guarantees Commitments Amount Current
RoyaltyGuaranteesCommitmentsAmountCurrent
8504000 usd
CY2023Q4 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
34102000 usd
CY2022Q4 cris Royalty Guarantees Commitments Amount Current
RoyaltyGuaranteesCommitmentsAmountCurrent
6257000 usd
CY2022Q4 us-gaap Royalty Guarantees Commitments Amount
RoyaltyGuaranteesCommitmentsAmount
43226000 usd
cris Collaboration Agreement Numberof Programs Licensed
CollaborationAgreementNumberofProgramsLicensed
4 program
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
22781250 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
34171875 shares
cris Share Based Compensation Plans
ShareBasedCompensationPlans
2 plan
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
840880 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
47.58
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M28D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
493270 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.65
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
107436 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
46.58
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1226714 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
35.23
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M2D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
578562 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
57.40
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y3M14D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1226714 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
35.23
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y4M2D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
5000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.71
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.01
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
22781250 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
34171875 shares
cris Share Based Compensation Plans
ShareBasedCompensationPlans
2 plan
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
840880 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
47.58
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M28D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
493270 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.65
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
107436 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
46.58
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
35.23
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M2D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
578562 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
57.40
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y3M14D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1226714 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
35.23
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y4M2D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
5000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.71
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.01
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
8000000.0 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
8000000.0 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1704000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1424000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3263000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2819000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1424000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3263000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2819000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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0001108205-24-000062-index-headers.html Edgar Link pending
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0001108205-24-000062.txt Edgar Link pending
0001108205-24-000062-xbrl.zip Edgar Link pending
cris-20240630.htm Edgar Link pending
cris-20240630.xsd Edgar Link pending
cris-3312024x10qexx311.htm Edgar Link pending
cris-3312024x10qexx312.htm Edgar Link pending
cris-3312024x10qexx321.htm Edgar Link pending
cris-20240630_cal.xml Edgar Link unprocessable
cris-20240630_def.xml Edgar Link unprocessable
cris-20240630_lab.xml Edgar Link unprocessable
cris-20240630_pre.xml Edgar Link unprocessable
cris-20240630_htm.xml Edgar Link completed
cris-3312024x10qexx322.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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