2014 Q2 Form 10-Q Financial Statement
#000119312514191561 Filed on May 09, 2014
Income Statement
Concept | 2014 Q2 | 2014 Q1 | 2013 Q1 |
---|---|---|---|
Revenue | $4.801M | $1.285M | $871.4K |
YoY Change | -11.16% | 47.42% | -91.59% |
Cost Of Revenue | $90.00K | $70.00K | $30.00K |
YoY Change | 125.0% | 133.33% | -72.73% |
Gross Profit | $4.710M | $1.220M | $840.0K |
YoY Change | -12.13% | 45.24% | -91.8% |
Gross Profit Margin | 98.1% | 94.97% | 96.39% |
Selling, General & Admin | $2.930M | $2.830M | $2.570M |
YoY Change | 1.03% | 10.12% | -8.21% |
% of Gross Profit | 62.21% | 231.97% | 305.95% |
Research & Development | $3.329M | $3.146M | $2.628M |
YoY Change | 5.13% | 19.69% | -49.84% |
% of Gross Profit | 70.68% | 257.86% | 312.91% |
Depreciation & Amortization | $30.00K | $40.00K | $30.00K |
YoY Change | -25.0% | 33.33% | 0.0% |
% of Gross Profit | 0.64% | 3.28% | 3.57% |
Operating Expenses | $3.329M | $3.146M | $2.628M |
YoY Change | 5.13% | 19.69% | -67.35% |
Operating Profit | -$1.545M | -$4.753M | -$4.357M |
YoY Change | 118.75% | 9.09% | -298.97% |
Interest Expense | $949.7K | $951.0K | $947.8K |
YoY Change | -0.84% | 0.33% | 3059.34% |
% of Operating Profit | |||
Other Income/Expense, Net | -$351.0K | -$810.6K | -$604.9K |
YoY Change | -40.27% | 34.0% | |
Pretax Income | -$1.900M | -$5.560M | -$4.960M |
YoY Change | 47.29% | 12.1% | -322.42% |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$1.896M | -$5.564M | -$4.962M |
YoY Change | 46.52% | 12.12% | -322.95% |
Net Earnings / Revenue | -39.48% | -433.11% | -569.44% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$110.5K | -$323.6K | -$309.6K |
COMMON SHARES | |||
Basic Shares Outstanding | 85.95M shares | 85.95M shares | 80.10M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2014 Q2 | 2014 Q1 | 2013 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $55.80M | $57.80M | $50.50M |
YoY Change | -2.28% | 14.46% | 12.22% |
Cash & Equivalents | $10.16M | $7.908M | $9.719M |
Short-Term Investments | $45.60M | $49.90M | $40.80M |
Other Short-Term Assets | $400.0K | $500.0K | $400.0K |
YoY Change | 0.0% | 25.0% | 0.0% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $4.843M | $1.369M | $800.0K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $60.99M | $59.65M | $51.70M |
YoY Change | 4.39% | 15.37% | 13.13% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $439.4K | $408.6K | $400.0K |
YoY Change | -12.28% | 2.16% | 0.0% |
Goodwill | $8.982M | $8.982M | |
YoY Change | 0.0% | ||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $3.300M | $6.100M | $3.700M |
YoY Change | 64.86% | ||
Other Assets | $78.31K | $91.17K | $300.0K |
YoY Change | -39.66% | -69.61% | 50.0% |
Total Long-Term Assets | $12.91M | $15.72M | $13.40M |
YoY Change | 32.01% | 17.28% | 39.58% |
TOTAL ASSETS | |||
Total Short-Term Assets | $60.99M | $59.65M | $51.70M |
Total Long-Term Assets | $12.91M | $15.72M | $13.40M |
Total Assets | $73.90M | $75.36M | $65.10M |
YoY Change | 8.35% | 15.77% | 17.72% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.849M | $2.545M | $2.200M |
YoY Change | 10.51% | 15.68% | -15.38% |
Accrued Expenses | $1.510M | $1.246M | $1.200M |
YoY Change | 6.37% | 3.85% | 9.09% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $5.499M | $3.392M | $300.0K |
YoY Change | 302.06% | 1030.81% | |
Total Short-Term Liabilities | $9.925M | $7.809M | $3.600M |
YoY Change | 85.0% | 116.91% | -5.26% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $24.37M | $26.82M | $30.00M |
YoY Change | -16.04% | -10.59% | |
Other Long-Term Liabilities | $191.1K | $194.7K | $1.200M |
YoY Change | -4.03% | -83.77% | -70.0% |
Total Long-Term Liabilities | $24.56M | $27.02M | $31.20M |
YoY Change | -15.96% | -13.41% | 680.0% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $9.925M | $7.809M | $3.600M |
Total Long-Term Liabilities | $24.56M | $27.02M | $31.20M |
Total Liabilities | $34.49M | $34.83M | $34.80M |
YoY Change | -2.7% | 0.08% | 351.95% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$768.3M | -$766.4M | |
YoY Change | 1.79% | ||
Common Stock | $872.3K | $871.7K | |
YoY Change | 5.21% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $1.524M | $1.524M | |
YoY Change | 0.0% | ||
Treasury Stock Shares | 1.223M shares | 1.223M shares | |
Shareholders Equity | $39.41M | $40.54M | $30.20M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $73.90M | $75.36M | $65.10M |
YoY Change | 8.35% | 15.77% | 17.72% |
Cashflow Statement
Concept | 2014 Q2 | 2014 Q1 | 2013 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.896M | -$5.564M | -$4.962M |
YoY Change | 46.52% | 12.12% | -322.95% |
Depreciation, Depletion And Amortization | $30.00K | $40.00K | $30.00K |
YoY Change | -25.0% | 33.33% | 0.0% |
Cash From Operating Activities | -$4.730M | -$5.310M | -$4.330M |
YoY Change | -15866.67% | 22.63% | -209.9% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$60.00K | $34.96K | |
YoY Change | -449.57% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $6.960M | $3.440M | $1.300M |
YoY Change | -340.83% | 164.62% | -117.02% |
Cash From Investing Activities | $6.900M | $3.440M | $1.260M |
YoY Change | -338.75% | 173.02% | -116.47% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $180.4K | $297.7K | |
YoY Change | -39.39% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 80.00K | 180.0K | 40.00K |
YoY Change | -97.23% | 350.0% | -98.78% |
NET CHANGE | |||
Cash From Operating Activities | -4.730M | -5.310M | -4.330M |
Cash From Investing Activities | 6.900M | 3.440M | 1.260M |
Cash From Financing Activities | 80.00K | 180.0K | 40.00K |
Net Change In Cash | 2.250M | -1.690M | -3.030M |
YoY Change | 7400.0% | -44.22% | 604.65% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$4.730M | -$5.310M | -$4.330M |
Capital Expenditures | -$60.00K | $34.96K | |
Free Cash Flow | -$4.670M | -$5.310M | -$4.365M |
YoY Change | -15666.67% | 21.65% | -210.51% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2013Q4 | cris |
Available For Sale Securities Gross Unrealized Gain Accumulated In Investments
AvailableForSaleSecuritiesGrossUnrealizedGainAccumulatedInInvestments
|
9046 | |
CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.019 | pure |
CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.70 | pure |
CY2014Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
85948078 | shares |
CY2013Q1 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
1186919 | |
CY2013Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
9718974 | |
CY2014Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
85948078 | shares |
CY2014Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
1373517 | shares |
CY2014Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
87170924 | shares |
CY2014Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
225000000 | shares |
CY2014Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1222846 | shares |
CY2014Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2014Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights
|
3.55 | |
CY2014Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1246175 | |
CY2014Q1 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
26914398 | |
CY2014Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
26822670 | |
CY2014Q1 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
635592 | |
CY2014Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
207022 | |
CY2014Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
807583325 | |
CY2014Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
2545041 | |
CY2014Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
148825 | |
CY2014Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
7808814 | |
CY2014Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-2750 | |
CY2014Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
194731 | |
CY2014Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
40537758 | |
CY2014Q1 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
625163 | |
CY2014Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-766390497 | |
CY2014Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
871709 | |
CY2014Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
75363973 | |
CY2013Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
11372493 | |
CY2014Q1 | us-gaap |
Liabilities Fair Value Disclosure Nonrecurring
LiabilitiesFairValueDisclosureNonrecurring
|
0 | |
CY2014Q1 | us-gaap |
Deferred Finance Costs Gross
DeferredFinanceCostsGross
|
139647 | |
CY2014Q1 | us-gaap |
Liabilities
Liabilities
|
34826215 | |
CY2014Q1 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
254736 | |
CY2014Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2014Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
3392435 | |
CY2014Q1 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
49855949 | |
CY2014Q1 | us-gaap |
Long Term Investments
LongTermInvestments
|
6081247 | |
CY2014Q1 | us-gaap |
Restricted Investments Current
RestrictedInvestmentsCurrent
|
13877 | |
CY2014Q1 | us-gaap |
Assets Current
AssetsCurrent
|
59648307 | |
CY2014Q1 | us-gaap |
Goodwill
Goodwill
|
8982000 | |
CY2014Q1 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
48856394 | |
CY2014Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
91173 | |
CY2014Q1 | us-gaap |
Assets
Assets
|
75363973 | |
CY2014Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
7907869 | |
CY2014Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
1368920 | |
CY2014Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
5800000 | |
CY2014Q1 | us-gaap |
Restricted Investments Noncurrent
RestrictedInvestmentsNoncurrent
|
152610 | |
CY2014Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
501692 | |
CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
5907000 | |
CY2014Q1 | us-gaap |
Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
|
1002402 | |
CY2014Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
6519000 | |
CY2014Q1 | us-gaap |
Assets Fair Value Disclosure Nonrecurring
AssetsFairValueDisclosureNonrecurring
|
0 | |
CY2014Q1 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
|
48853547 | |
CY2014Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
1524029 | |
CY2014Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
408636 | |
CY2014Q1 | cris |
Debt Instrument Current Carrying Amount
DebtInstrumentCurrentCarryingAmount
|
3445951 | |
CY2014Q1 | cris |
Warrant Liability Current
WarrantLiabilityCurrent
|
625163 | |
CY2014Q1 | cris |
Stock Issued During Period Due To Exercise Of Warrants
StockIssuedDuringPeriodDueToExerciseOfWarrants
|
238805 | shares |
CY2014Q1 | cris |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments
AvailableForSaleSecuritiesGrossUnrealizedLossAccumulatedInInvestments
|
12700 | |
CY2014Q1 | cris |
Available For Sale Securities Gross Unrealized Gain Accumulated In Investments
AvailableForSaleSecuritiesGrossUnrealizedGainAccumulatedInInvestments
|
9853 | |
CY2010Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
1612322 | shares |
CY2010Q1 | cris |
Registered Direct Offering Number Of Common Stock Per Unit
RegisteredDirectOfferingNumberOfCommonStockPerUnit
|
1 | |
CY2010Q1 | cris |
Registered Direct Offering Units
RegisteredDirectOfferingUnits
|
6449288 | shares |
CY2010Q1 | cris |
Registered Direct Offering Number Of Warrant Per Unit
RegisteredDirectOfferingNumberOfWarrantPerUnit
|
1 | |
CY2010Q1 | cris |
Direct Offering Purchase Price
DirectOfferingPurchasePrice
|
2.52 | |
CY2012Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
1488179 | |
CY2012Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
12747709 | |
CY2013Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
85859016 | shares |
CY2013Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
87081862 | shares |
CY2013Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
225000000 | shares |
CY2013Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1222846 | shares |
CY2013Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2013Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1911479 | |
CY2013Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
28050291 | |
CY2013Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
27945186 | |
CY2013Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
1267954 | |
CY2013Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
178390 | |
CY2013Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
806660340 | |
CY2013Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
2036864 | |
CY2013Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
166200 | |
CY2013Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
6558517 | |
CY2013Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-6984 | |
CY2013Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
196734 | |
CY2013Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
45173585 | |
CY2013Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
716786 | |
CY2013Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-760826561 | |
CY2013Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
870819 | |
CY2013Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
80590808 | |
CY2013Q4 | us-gaap |
Liabilities
Liabilities
|
35417223 | |
CY2013Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
298935 | |
CY2013Q4 | us-gaap |
Liabilities Fair Value Disclosure Nonrecurring
LiabilitiesFairValueDisclosureNonrecurring
|
0 | |
CY2013Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2013Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
2610174 | |
CY2013Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
48588135 | |
CY2013Q4 | us-gaap |
Long Term Investments
LongTermInvestments
|
10726685 | |
CY2013Q4 | us-gaap |
Restricted Investments Current
RestrictedInvestmentsCurrent
|
13877 | |
CY2013Q4 | us-gaap |
Assets Current
AssetsCurrent
|
60165947 | |
CY2013Q4 | us-gaap |
Goodwill
Goodwill
|
8982000 | |
CY2013Q4 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
47592763 | |
CY2013Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
104034 | |
CY2013Q4 | us-gaap |
Assets
Assets
|
80590808 | |
CY2013Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
9591487 | |
CY2013Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
1477188 | |
CY2013Q4 | us-gaap |
Deferred Finance Costs Gross
DeferredFinanceCostsGross
|
152496 | |
CY2013Q4 | us-gaap |
Restricted Investments Noncurrent
RestrictedInvestmentsNoncurrent
|
166487 | |
CY2013Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
495260 | |
CY2013Q4 | us-gaap |
Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
|
1001802 | |
CY2013Q4 | us-gaap |
Assets Fair Value Disclosure Nonrecurring
AssetsFairValueDisclosureNonrecurring
|
0 | |
CY2013Q4 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
|
47586333 | |
CY2013Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
1524029 | |
CY2013Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
445655 | |
CY2013Q4 | cris |
Debt Instrument Current Carrying Amount
DebtInstrumentCurrentCarryingAmount
|
2663677 | |
CY2013Q4 | cris |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments
AvailableForSaleSecuritiesGrossUnrealizedLossAccumulatedInInvestments
|
15476 | |
CY2014Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y | |
CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
pure | |
CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
640000 | shares |
CY2014Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
3.09 | |
CY2010Q1 | cris |
Proceeds From Registered Direct Offering Of Common Stock And Warrants Net Of Issuance Costs
ProceedsFromRegisteredDirectOfferingOfCommonStockAndWarrantsNetOfIssuanceCosts
|
14942000 | |
CY2013 | cris |
Available For Sale Securities Weighted Average Maturity
AvailableForSaleSecuritiesWeightedAverageMaturity
|
P4M21D | |
CY2013Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
80096650 | shares |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-4328086 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.14 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
pure | |
CY2013Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.06 | |
CY2013Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
13123460 | shares |
CY2013Q1 | us-gaap |
Revenues
Revenues
|
871435 | |
CY2013Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
19948 | |
CY2013Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-4963351 | |
CY2013Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
1286000 | |
CY2013Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
10088329 | |
CY2013Q1 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
261475 | |
CY2013Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
41612 | |
CY2013Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4357364 | |
CY2013Q1 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
301260 | |
CY2013Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-143635 | |
CY2013Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-604930 | |
CY2013Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4962294 | |
CY2013Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
-197938 | |
CY2013Q1 | us-gaap |
Royalty Revenue
RoyaltyRevenue
|
664400 | |
CY2013Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
34957 | |
CY2013Q1 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-13918 | |
CY2013Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-442908 | |
CY2013Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-301260 | |
CY2013Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
5228799 | |
CY2013Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2567122 | |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
36226 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
170000 | |
CY2013Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
660566 | |
CY2013Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
34158 | |
CY2013Q1 | us-gaap |
Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
634208 | |
CY2013Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-3028735 | |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
1263125 | |
CY2013Q1 | us-gaap |
Interest Expense
InterestExpense
|
947802 | |
CY2013Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
297701 | |
CY2013Q1 | us-gaap |
Royalty Expense
RoyaltyExpense
|
33220 | |
CY2013Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2628457 | |
CY2013Q1 | us-gaap |
Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
|
335832 | |
CY2013Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
26195 | |
CY2014Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
13388600 | |
CY2014Q1 | us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
353619 | |
CY2013Q1 | cris |
Research And Development Revenue
ResearchAndDevelopmentRevenue
|
207035 | |
CY2013Q1 | cris |
Adjustments To Additional Paid In Capital Share Based Compensation Mark To Market On Stock Options To Non Employees
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationMarkToMarketOnStockOptionsToNonEmployees
|
16240 | |
CY2014Q1 | dei |
Trading Symbol
TradingSymbol
|
CRIS | |
CY2014Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
CURIS INC | |
CY2014Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2014Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | |
CY2014Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2014 | |
CY2014Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2014Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2014-03-31 | |
CY2014Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001108205 | |
CY2014Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2014Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2014Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-91623 | |
CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.71 | pure |
CY2014Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="3%" align="left"><b>1.</b></td> <td style="FONT-SIZE: 8pt" valign="top" width="1%"> </td> <td valign="top" align="left"><b><u>Nature of Business</u></b></td> </tr> </table> <!-- xbrl,body --> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Curis, Inc. is an oncology-focused drug development company seeking to develop novel drug candidates for the treatment of human cancers. 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.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company conducts its research and development programs both internally and through strategic collaborations. The Company is leveraging its experience in targeting signaling pathways in seeking to develop drug candidates including CUDC-907, a dual histone deacetylase, or HDAC and phosphoinostide-3 kinase, or PI3K, inhibitor, and CUDC-427, a small molecule antagonist of the inhibitor of apoptosis, or IAP, proteins. Erivedge<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">®</sup>, the first and only approved medicine for the treatment of advanced basal cell carcinoma, or BCC, is being commercialized by F. Hoffmann-La Roche Ltd., or Roche, and Genentech Inc., or Genentech, a member of the Roche Group, under a collaboration agreement between Curis and Genentech. The Company’s licensee Debiopharm is advancing the clinical development of the heat shock protein 90, or HSP90, inhibitor, Debio 0932.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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 health care industry and would be regulated in the United States by the Food and Drug Administration, or FDA, and in overseas markets by similar regulatory authorities.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company is subject to risks common to companies in the biotechnology industry as well as risk factors that are specific to the Company’s business, including, but not limited to: the Company’s reliance on Genentech and Roche to successfully commercialize Erivedge; the Company’s ability to advance and expand its research and development programs; the Company’s ability to obtain adequate financing to fund its operations; the ability of the Company’s wholly owned subsidiary, Curis Royalty, LLC, or Curis Royalty, to satisfy the terms of its loan agreement with BioPharma Secured Debt Fund II Sub, S.à r.l., a Luxembourg limited liability company managed by Pharmakon Advisors, or BioPharma-II; the Company’s ability to obtain and maintain necessary intellectual property protection; development by the Company’s competitors of new or better technological innovations; dependence on key personnel; the Company’s ability to comply with regulatory requirements; and the Company’s ability to execute on its overall business strategies.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company’s future operating results will largely depend on the magnitude of payments from its current and potential future corporate collaborators and the progress of drug candidates currently in its development pipeline. The results of the Company’s operations will vary significantly from year to year and quarter to quarter and depend on a number of factors, including, but not limited to: Roche and Genentech’s ability to successfully commercialize Erivedge; positive results in Genentech’s ongoing clinical trials; the timing, outcome and cost of the Company’s preclinical studies and clinical trials for its drug candidates; and the Company’s ability to successfully enter into one or more material licenses or collaboration agreements for its proprietary drug candidates.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company anticipates that existing cash, cash equivalents and investments at March 31, 2014 should enable it to maintain current and planned operations into 2016. The Company’s ability to continue funding its planned operations beyond this period is dependent upon, among other things, the success of its collaborations with Genentech, Debiopharm and the Leukemia & Lymphoma Society, or LLS, including its receipt of additional contingent cash payments under these collaborations; its ability to control expenses and its ability to raise additional funds through equity or debt financings, new collaborations or other sources of financing. The Company may not be able to successfully raise additional funds or enter into or continue any corporate collaborations and the timing, amount and likelihood of the Company receiving payments under such collaborations is highly uncertain. If the Company is unable to obtain adequate financing, the Company may be required to reduce or delay spending on its research and/or development programs.</p> </div> | |
CY2014Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
48760 | |
CY2014Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4753343 | |
CY2014Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
6037976 | |
CY2014Q1 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
1322582 | |
CY2014Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-159130 | |
CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P60D | |
CY2014Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
85917592 | shares |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-5305886 | |
CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.97 | |
CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
pure | |
CY2014Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.06 | |
CY2014Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | Segment |
CY2014Q1 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
||
CY2014Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
12706573 | shares |
CY2014Q1 | us-gaap |
Revenues
Revenues
|
1284633 | |
CY2014Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
6420 | |
CY2014Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-5559702 | |
CY2014Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
0 | |
CY2014Q1 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
91623 | |
CY2014Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-108268 | |
CY2014Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-810593 | |
CY2014Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5563936 | |
CY2014Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
46102 | |
CY2014Q1 | us-gaap |
Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
|
968963 | |
CY2014Q1 | us-gaap |
Royalty Revenue
RoyaltyRevenue
|
1288248 | |
CY2014Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
||
CY2014Q1 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-13877 | |
CY2014Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2826898 | |
CY2014Q1 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
-353619 | |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
180431 | |
CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
88000 | |
CY2014Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
743444 | |
CY2014Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
37019 | |
CY2014Q1 | us-gaap |
Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
258050 | |
CY2014Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-1683618 | |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
3441837 | |
CY2014Q1 | us-gaap |
Interest Expense
InterestExpense
|
950976 | |
CY2014Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
180431 | |
CY2014Q1 | us-gaap |
Royalty Expense
RoyaltyExpense
|
65148 | |
CY2014Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3145930 | |
CY2014Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
26213 | |
CY2014Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
48011 | |
CY2014Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
16816560 | |
CY2014Q1 | cris |
Share Based Compensation Plans
ShareBasedCompensationPlans
|
2 | Plans |
CY2014Q1 | cris |
Available For Sale Securities Weighted Average Maturity
AvailableForSaleSecuritiesWeightedAverageMaturity
|
P5Y3M18D | |
CY2014Q1 | cris |
Debt Issuance Costs Gross
DebtIssuanceCostsGross
|
421715 | |
CY2014Q1 | cris |
Share Based Compensation Arrangement By Share Based Payment Award Options Issued
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsIssued
|
640000 | shares |
CY2014Q1 | cris |
Research And Development Revenue
ResearchAndDevelopmentRevenue
|
-3615 | |
CY2014Q1 | cris |
Class Of Warrant Or Right Expiration Year And Month
ClassOfWarrantOrRightExpirationYearAndMonth
|
2015-01 | |
CY2014Q1 | cris |
Adjustments To Additional Paid In Capital Share Based Compensation Mark To Market On Stock Options To Non Employees
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationMarkToMarketOnStockOptionsToNonEmployees
|
55672 |