2022 Q3 Form 10-Q Financial Statement

#000121390022046617 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $6.817K $21.25K $7.640K
YoY Change -82.1% 159.47% -91.51%
Cost Of Revenue $1.469K $332.00 $1.530K
YoY Change -94.16% -97.7% -97.45%
Gross Profit $5.348K $20.92K $6.110K
YoY Change -58.61% -435.54% -79.63%
Gross Profit Margin 78.45% 98.44% 79.97%
Selling, General & Admin $4.628M $5.052M $4.751M
YoY Change 20.63% 50.54% 3.28%
% of Gross Profit 86537.28% 24147.48% 77755.81%
Research & Development $2.339M $3.209M $2.288M
YoY Change -50.66% 27.35% -13.35%
% of Gross Profit 43740.99% 15340.91% 37440.1%
Depreciation & Amortization $21.28K $20.57K $20.25K
YoY Change 21.18% 44.05% 102.5%
% of Gross Profit 397.91% 98.32% 331.42%
Operating Expenses $6.967M $8.261M $7.038M
YoY Change -18.78% 40.6% -2.78%
Operating Profit -$6.962M -$8.240M -$7.032M
YoY Change -18.72% 40.09% -2.46%
Interest Expense $8.776K $3.585K -$1.830K
YoY Change -297.21% -81.7%
% of Operating Profit
Other Income/Expense, Net $108.2K $49.99K -$1.833K
YoY Change -2533.39% -5697.87%
Pretax Income -$6.854M -$8.190M -$7.034M
YoY Change -20.02% 39.22% -2.57%
Income Tax $0.00 -$585.6K
% Of Pretax Income
Net Earnings -$6.854M -$7.605M -$7.034M
YoY Change -20.02% 64.15% -2.57%
Net Earnings / Revenue -100538.67% -35782.43% -92070.55%
Basic Earnings Per Share -$0.17 -$0.19 -$0.18
Diluted Earnings Per Share -$0.17 -$0.19 -$183.9K
COMMON SHARES
Basic Shares Outstanding 41.11M shares 39.76M shares 38.25M shares
Diluted Shares Outstanding 41.18M shares 39.76M shares 38.25M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.00M $64.62M $61.69M
YoY Change -18.02% -17.42% -24.0%
Cash & Equivalents $43.25M $48.93M $45.39M
Short-Term Investments $15.75M $15.69M $16.30M
Other Short-Term Assets $663.6K $734.8K $810.2K
YoY Change -31.75% -46.06% -53.97%
Inventory $269.00 $1.720K $2.610K
Prepaid Expenses $19.12K $28.45K
Receivables $0.00 $0.00 $2.980K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $59.66M $65.36M $62.50M
YoY Change -18.26% -17.98% -24.75%
LONG-TERM ASSETS
Property, Plant & Equipment $1.503M $1.448M $2.328M
YoY Change -34.53% 36.09% 111.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $102.3K $102.3K $102.3K
YoY Change 0.01% 0.01% 2.31%
Total Long-Term Assets $2.413M $2.389M $2.430M
YoY Change 0.59% 104.78% 102.54%
TOTAL ASSETS
Total Short-Term Assets $59.66M $65.36M $62.50M
Total Long-Term Assets $2.413M $2.389M $2.430M
Total Assets $62.08M $67.75M $64.93M
YoY Change -17.66% -16.21% -22.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.767M $2.496M $1.740M
YoY Change 59.67% 164.6% 16.0%
Accrued Expenses $3.163M $2.649M $2.554M
YoY Change -22.92% 21.5% 64.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.062M $5.272M $4.294M
YoY Change -2.86% 68.8% 40.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $703.0K $736.9K $770.0K
YoY Change -15.71% -14.74% -13.48%
Total Long-Term Liabilities $703.0K $736.9K $770.0K
YoY Change -15.71% -14.74% -13.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.062M $5.272M $4.294M
Total Long-Term Liabilities $703.0K $736.9K $770.0K
Total Liabilities $5.765M $6.009M $5.064M
YoY Change -4.64% 50.69% 28.54%
SHAREHOLDERS EQUITY
Retained Earnings -$267.2M -$260.3M
YoY Change
Common Stock $41.21K $41.11K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $56.31M $61.74M $59.87M
YoY Change
Total Liabilities & Shareholders Equity $62.08M $67.75M $64.93M
YoY Change -17.66% -16.21% -22.94%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$6.854M -$7.605M -$7.034M
YoY Change -20.02% 64.15% -2.57%
Depreciation, Depletion And Amortization $21.28K $20.57K $20.25K
YoY Change 21.18% 44.05% 102.5%
Cash From Operating Activities -$5.995M -$5.462M -$6.744M
YoY Change 8.94% 76.63% 0.81%
INVESTING ACTIVITIES
Capital Expenditures -$76.42K -$9.870K -$4.320K
YoY Change -90.18% 13.45% -56.8%
Acquisitions
YoY Change
Other Investing Activities -$37.87K $604.3K -$4.183M
YoY Change -92.33% -393.93% 720.26%
Cash From Investing Activities -$114.3K $594.4K -$4.188M
YoY Change -91.01% -390.98% 690.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 437.3K 8.411M 3.004M
YoY Change 4637.34% -92.77%
NET CHANGE
Cash From Operating Activities -5.995M -5.462M -6.744M
Cash From Investing Activities -114.3K 594.4K -4.188M
Cash From Financing Activities 437.3K 8.411M 3.004M
Net Change In Cash -5.672M 3.543M -7.928M
YoY Change -16.27% -213.61% -123.07%
FREE CASH FLOW
Cash From Operating Activities -$5.995M -$5.462M -$6.744M
Capital Expenditures -$76.42K -$9.870K -$4.320K
Free Cash Flow -$5.919M -$5.452M -$6.740M
YoY Change 25.25% 76.81% 0.9%

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EarningsPerShareBasic
-0.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39761754 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38083842 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39008590 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37211233 shares
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
59869179 usd
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
8411156 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Other Longterm Incentive Plans Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition
1073646 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-10402 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-7604839 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
61738740 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
62798067 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
11415372 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Other Longterm Incentive Plans Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition
2211945 usd
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-47611 usd
us-gaap Net Income Loss
NetIncomeLoss
-14639033 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
61738740 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
80315067 usd
CY2021Q2 crmd Stock Issued In Connection With Warrants Exercised Cash
StockIssuedInConnectionWithWarrantsExercisedCash
39957 usd
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
137035 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Other Longterm Incentive Plans Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition
1010066 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
355 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-4632935 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
76869545 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
44223012 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
41455630 usd
crmd Stock Issued In Connection With Warrants Exercised Cash
StockIssuedInConnectionWithWarrantsExercisedCash
164886 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
137035 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Other Longterm Incentive Plans Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition
2741680 usd
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-2825 usd
us-gaap Net Income Loss
NetIncomeLoss
-11849873 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
76869545 usd
us-gaap Net Income Loss
NetIncomeLoss
-14639033 usd
us-gaap Net Income Loss
NetIncomeLoss
-11849873 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2211945 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2741680 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
61383 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
56350 usd
us-gaap Depreciation
Depreciation
40819 usd
us-gaap Depreciation
Depreciation
24277 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-43738 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-72 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1288 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-75737 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-208535 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-265019 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
287011 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-184681 usd
crmd Increase Decrease In Accrued Expenses
IncreaseDecreaseInAccruedExpenses
362604 usd
crmd Increase Decrease In Accrued Expenses
IncreaseDecreaseInAccruedExpenses
857924 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-59539 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-52983 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12206457 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9782326 usd
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
14279033 usd
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
7595280 usd
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
10700000 usd
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
6879685 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14187 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18698 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3593220 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-734293 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11415372 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
41455630 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
164886 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
137035 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11415372 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
41757551 usd
crmd Foreign Exchange Effect On Cash
ForeignExchangeEffectOnCash
13555 usd
crmd Foreign Exchange Effect On Cash
ForeignExchangeEffectOnCash
4500 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4397860 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
31236432 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53551277 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42096783 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
49153417 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
73333215 usd
us-gaap Interest Paid Net
InterestPaidNet
8964 usd
us-gaap Interest Paid Net
InterestPaidNet
5184 usd
crmd Conversion Of Series G Preferred Stock To Common Stock
ConversionOfSeriesGPreferredStockToCommonStock
10 usd
crmd Conversion Of Preferred Stock To Common Stock
ConversionOfPreferredStockToCommonStock
50 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-35488 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-315 usd
crmd Organization And Business Description
OrganizationAndBusinessDescription
The Company has in-licensed the worldwide rights to develop and commercialize DefenCath/Neutrolin®, which is a novel anti-infective solution (a formulation of taurolidine 13.5 mg/mL, and heparin 1000 USP Units/mL) intended for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters, or CVCs, in clinical settings such as hemodialysis, total parenteral nutrition, and oncology. Infection and thrombosis represent key complications among hemodialysis, total parenteral nutrition and cancer patients with CVCs. These complications can lead to treatment delays and increased costs to the healthcare system when they occur due to hospitalizations, need for intravenous, or IV, antibiotic treatment, long-term anticoagulation therapy, removal/replacement of the CVC, related treatment costs and increased mortality. The name DefenCath is the U.S. proprietary name conditionally approved by the U.S. Food and Drug Administration, or FDA, while the name Neutrolin is currently used in the European Union, or EU, and other territories where the Company has received CE-Mark approval for the commercial distribution of Neutrolin as a catheter lock solution, or CLS, regulated as a medical device.
crmd Defencath Relative To The Active Control Description
DefencathRelativeToTheActiveControlDescription
As previously agreed with the FDA, an interim efficacy analysis was performed when the first 28 potential CRBSI cases were identified in our LOCK-IT-100 study that occurred through early December 2017. Based on these first 28 cases, there was a highly statistically significant 72% reduction in CRBSI by DefenCath relative to the active control of heparin (p=0.0034). Because the pre-specified level of statistical significance was reached for the primary endpoint and efficacy had been demonstrated with no safety concerns, the LOCK-IT-100 study was terminated early. The study continued enrolling and treating subjects until study termination, and the final analysis was based on a total of 795 subjects. In a total of 41 cases, there was a 71% reduction in CRBSI by DefenCath relative to heparin, which was highly statistically significant (p=0.0006), with a good safety profile. 
crmd Pediatric Research Equity Act Description
PediatricResearchEquityActDescription
Pediatric studies for an approved product conducted under PREA may qualify for pediatric exclusivity, which if granted would provide an additional six months of marketing exclusivity. DefenCath would then have the potential to receive a total marketing exclusivity period of 10.5 years, including exclusivity pursuant to NCE and QIDP.
CY2022Q2 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
-260300000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7600000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4600000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
14600000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11800000 usd
crmd Available Under The Atm Program
AvailableUnderTheATMProgram
38200000 usd
crmd Available Under The Shelf Registration
AvailableUnderTheShelfRegistration
150000000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of Estimates</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reclassifications </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain reclassifications were made to the prior year’s amounts to conform to the 2022 presentation. Non-cash lease expense, as presented on the Company’s condensed consolidated statement of cash flows for the six months ended June 30, 2021, is now presented as change in right-of-use assets and change in operating lease liabilities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
48929895 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53317405 usd
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
223522 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
233872 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
49153417 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
53551277 usd
us-gaap Deferred Compensation Arrangement With Individual Maximum Contractual Term1
DeferredCompensationArrangementWithIndividualMaximumContractualTerm1
P1Y
CY2022Q2 crmd Amortized Cost
AmortizedCost
22683996 usd
CY2022Q2 crmd Gross Unrealized Losses
GrossUnrealizedLosses
41145 usd
CY2022Q2 crmd Fair Value
FairValue
22642851 usd
CY2021Q4 crmd Amortized Cost
AmortizedCost
22617515 usd
CY2021Q4 crmd Gross Unrealized Losses
GrossUnrealizedLosses
5751 usd
CY2021Q4 crmd Gross Unrealized Gains
GrossUnrealizedGains
93 usd
CY2021Q4 crmd Fair Value
FairValue
22611857 usd
CY2022Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
22642851 usd
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
22611857 usd
CY2022Q2 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
9000 usd
CY2021Q2 us-gaap Foreign Currency Transaction Gain Before Tax
ForeignCurrencyTransactionGainBeforeTax
1000 usd
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
38086 usd
CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
39519 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
87130 usd
CY2022Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
321956046 usd
CY2022Q2 us-gaap Short Term Investments
ShortTermInvestments
15692548 usd
CY2021Q4 us-gaap Short Term Investments
ShortTermInvestments
12149003 usd
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
45368 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
1720 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
3008 usd
CY2022Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
28451 usd
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
51993 usd
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
585141 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
770485 usd
CY2022Q2 us-gaap Assets Current
AssetsCurrent
65358969 usd
CY2021Q4 us-gaap Assets Current
AssetsCurrent
66468829 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1448305 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1474937 usd
CY2022Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
102308 usd
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
102305 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
838121 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
899505 usd
CY2022Q2 us-gaap Assets
Assets
67747703 usd
CY2021Q4 us-gaap Assets
Assets
68945576 usd
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
2496074 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2209552 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2648626 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3014156 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
127408 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
121368 usd
CY2022Q2 us-gaap Liabilities Current
LiabilitiesCurrent
5272108 usd
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
5345076 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
736855 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
802433 usd
CY2022Q2 us-gaap Liabilities
Liabilities
6008963 usd
CY2021Q4 us-gaap Liabilities
Liabilities
6147509 usd
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
181622 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
181622 shares
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2022Q2 us-gaap Preferred Stock Value
PreferredStockValue
182 usd
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
182 usd
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
160000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
160000000 shares
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
121000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
132000 usd
CY2022Q2 crmd Longterm Restricted Cash
LongtermRestrictedCash
102000 usd
crmd Prepaid Expenses Policy Textblock
PrepaidExpensesPolicyTextblock
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Prepaid Research and Development and Other Prepaid Expenses</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid expenses consist of payments made in advance to vendors relating to service contracts for clinical trial development, manufacturing, preclinical development and insurance policies. These advanced payments are amortized to expense either as services are performed or over the relevant service period using the straight-line method.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1720 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3008 usd
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
41106777 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
41106777 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
38086437 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
38086437 shares
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
589885 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
311408 usd
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1787260 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2508398 usd
CY2022Q2 crmd Accrued Manufacturing Development
AccruedManufacturingDevelopment
186539 usd
CY2021Q4 crmd Accrued Manufacturing Development
AccruedManufacturingDevelopment
99614 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
84942 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
94736 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2648626 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3014156 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10146140 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9271132 shares
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
41107 usd
CY2022Q2 us-gaap Revenues
Revenues
21253 usd
CY2021Q2 us-gaap Revenues
Revenues
8191 usd
us-gaap Revenues
Revenues
28889 usd
us-gaap Revenues
Revenues
96451 usd
crmd Net Proceeds
NetProceeds
11415000 usd
crmd Shares Of Common Stock
SharesOfCommonStock
656069 shares
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2022Q2 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2021Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
crmd Preferred Shares Was Converted Description
PreferredSharesWasConvertedDescription
During the six months ended June 30, 2021, 50,000 Series C-3 preferred shares was converted into 100,000 shares of the Company’s common stock by an unrelated party and 10,001 Series G preferred shares was converted into 556,069 shares of the Company’s common stock by a related party. 
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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The Company entered into a seven-year operating lease agreement in March 2020 for an office space at 300 Connell Drive, Berkeley Heights, New Jersey 07922. The lease agreement, with a monthly average cost of approximately $17,000 commenced in September 2020. 
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crmd Organization And Business Description
OrganizationAndBusinessDescription
The Company has in-licensed the worldwide rights to develop and commercialize DefenCath/Neutrolin®, which is a novel anti-infective solution (a formulation of taurolidine 13.5 mg/mL, and heparin 1000 USP Units/mL) intended for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters, or CVCs, in clinical settings such as hemodialysis, total parenteral nutrition, and oncology. Infection and thrombosis represent key complications among hemodialysis, total parenteral nutrition and cancer patients with CVCs. These complications can lead to treatment delays and increased costs to the healthcare system when they occur due to hospitalizations, need for intravenous, or IV, antibiotic treatment, long-term anticoagulation therapy, removal/replacement of the CVC, related treatment costs and increased mortality. The name DefenCath is the U.S. proprietary name conditionally approved by the U.S. Food and Drug Administration, or FDA, while the name Neutrolin is currently used in the European Union, or EU, and other territories where the Company has received CE-Mark approval for the commercial distribution of Neutrolin as a catheter lock solution, or CLS, regulated as a medical device.
crmd Defencath Relative To The Active Control Description
DefencathRelativeToTheActiveControlDescription
As previously agreed with the FDA, an interim efficacy analysis was performed when the first 28 potential CRBSI cases were identified in our LOCK-IT-100 study that occurred through early December 2017. Based on these first 28 cases, there was a highly statistically significant 72% reduction in CRBSI by DefenCath relative to the active control of heparin (p=0.0034). Because the pre-specified level of statistical significance was reached for the primary endpoint and efficacy had been demonstrated with no safety concerns, the LOCK-IT-100 study was terminated early. The study continued enrolling and treating subjects until study termination, and the final analysis was based on a total of 795 subjects. In a total of 41 cases, there was a 71% reduction in CRBSI by DefenCath relative to heparin, which was highly statistically significant (p=0.0006), with a good safety profile. 
crmd Pediatric Research Equity Act Description
PediatricResearchEquityActDescription
Pediatric studies for an approved product conducted under PREA may qualify for pediatric exclusivity, which if granted would provide an additional six months of marketing exclusivity. DefenCath would then have the potential to receive a total marketing exclusivity period of 10.5 years, including exclusivity pursuant to NCE and QIDP.
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
233872 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
49153417 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
53551277 usd
CY2022Q2 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
-260300000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7600000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4600000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
14600000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11800000 usd
crmd Available Under The Atm Program
AvailableUnderTheATMProgram
38200000 usd
crmd Available Under The Shelf Registration
AvailableUnderTheShelfRegistration
150000000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of Estimates</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reclassifications </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain reclassifications were made to the prior year’s amounts to conform to the 2022 presentation. Non-cash lease expense, as presented on the Company’s condensed consolidated statement of cash flows for the six months ended June 30, 2021, is now presented as change in right-of-use assets and change in operating lease liabilities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
48929895 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53317405 usd
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
223522 usd
us-gaap Deferred Compensation Arrangement With Individual Maximum Contractual Term1
DeferredCompensationArrangementWithIndividualMaximumContractualTerm1
P1Y
CY2022Q2 crmd Amortized Cost
AmortizedCost
22683996 usd
CY2022Q2 crmd Gross Unrealized Losses
GrossUnrealizedLosses
41145 usd
CY2022Q2 crmd Fair Value
FairValue
22642851 usd
CY2021Q4 crmd Amortized Cost
AmortizedCost
22617515 usd
CY2021Q4 crmd Gross Unrealized Losses
GrossUnrealizedLosses
5751 usd
CY2021Q4 crmd Gross Unrealized Gains
GrossUnrealizedGains
93 usd
CY2021Q4 crmd Fair Value
FairValue
22611857 usd
CY2022Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
22642851 usd
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
22611857 usd
CY2022Q2 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
9000 usd
CY2021Q2 us-gaap Foreign Currency Transaction Gain Before Tax
ForeignCurrencyTransactionGainBeforeTax
1000 usd
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
3.38
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P1Y7M6D
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
121000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
132000 usd
CY2022Q2 crmd Longterm Restricted Cash
LongtermRestrictedCash
102000 usd
crmd Prepaid Expenses Policy Textblock
PrepaidExpensesPolicyTextblock
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Prepaid Research and Development and Other Prepaid Expenses</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid expenses consist of payments made in advance to vendors relating to service contracts for clinical trial development, manufacturing, preclinical development and insurance policies. These advanced payments are amortized to expense either as services are performed or over the relevant service period using the straight-line method.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
crmd Net Proceeds
NetProceeds
11415000 usd
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1720 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3008 usd
CY2020 us-gaap Reimbursement From Limited Partnership Investment
ReimbursementFromLimitedPartnershipInvestment
30000 usd
crmd Cash Reimburse
CashReimburse
41000 usd
us-gaap Payments To Acquire Restricted Certificates Of Deposit
PaymentsToAcquireRestrictedCertificatesOfDeposit
121000 usd
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
589885 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
311408 usd
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1787260 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2508398 usd
CY2022Q2 crmd Accrued Manufacturing Development
AccruedManufacturingDevelopment
186539 usd
CY2021Q4 crmd Accrued Manufacturing Development
AccruedManufacturingDevelopment
99614 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
84942 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
94736 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2648626 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3014156 usd
crmd Shares Of Common Stock
SharesOfCommonStock
656069 shares
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10146140 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9271132 shares
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2022Q2 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2021Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
crmd Preferred Shares Was Converted Description
PreferredSharesWasConvertedDescription
During the six months ended June 30, 2021, 50,000 Series C-3 preferred shares was converted into 100,000 shares of the Company’s common stock by an unrelated party and 10,001 Series G preferred shares was converted into 556,069 shares of the Company’s common stock by a related party. 
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.0117 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.023 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.82
CY2022Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
207469 shares
CY2008Q4 crmd Amount Of Initial Licensing Fee
AmountOfInitialLicensingFee
325000 usd
CY2008Q4 crmd Shares Of Equity Of Common Stock
SharesOfEquityOfCommonStock
7996 shares
us-gaap Stock Issued During Period Shares Period Increase Decrease
StockIssuedDuringPeriodSharesPeriodIncreaseDecrease
29109 shares
CY2014 crmd Number Of Shares Released In Escrow
NumberOfSharesReleasedInEscrow
7277 shares
crmd Number Of Share Held In Escrow Of Common Stock
NumberOfShareHeldInEscrowOfCommonStock
21832 shares
crmd Maximum Aggregate Amount Of Cash Payments Due Upon Achievement Of Milestones
MaximumAggregateAmountOfCashPaymentsDueUponAchievementOfMilestones
3000000 usd
crmd Balance Of Cash Payments Due Upon Achievement Of Milestones
BalanceOfCashPaymentsDueUponAchievementOfMilestones
2500000 usd
crmd Balance Of Cash Payments Due Upon Achievement Of Milestones
BalanceOfCashPaymentsDueUponAchievementOfMilestones
2500000 usd
us-gaap Lessor Operating Lease Description
LessorOperatingLeaseDescription
The Company entered into a seven-year operating lease agreement in March 2020 for an office space at 300 Connell Drive, Berkeley Heights, New Jersey 07922. The lease agreement, with a monthly average cost of approximately $17,000 commenced in September 2020. 
CY2022Q2 crmd Rental Agreement Expense
RentalAgreementExpense
400 eur
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
52000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
104000 usd
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
52000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
105000 usd
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
the Company has a total operating lease liability of $864,000, of which $127,000 was classified as operating lease liabilities, short-term and $737,000 was classified as operating lease liabilities, net of current portion, on the condensed consolidated balance sheet. At December 31, 2021, the Company’s total operating lease liability was $924,000 of which $122,000 was classified as operating lease liabilities, short-term and $802,000 was classified as operating lease liabilities, net of current portion, on the condensed consolidated balance sheet. Operating ROU assets as of June 30, 2022 and December 31, 2021 are $838,000 and $900,000, respectively.
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
50000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
100000 usd
CY2021Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
45000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
97000 usd
crmd Operating Lease Weighted Average Remaining Lease Term
OperatingLeaseWeightedAverageRemainingLeaseTerm
P5Y3M18D
crmd Operating Lease Weighted Average Remaining Lease Term
OperatingLeaseWeightedAverageRemainingLeaseTerm
P6Y3M18D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2022Q2 crmd Lessee Operating Lease Liability Payment Due Year Two
LesseeOperatingLeaseLiabilityPaymentDueYearTwo
100000 usd
CY2022Q2 crmd Lessee Operating Lease Liability Payment Due Year Three
LesseeOperatingLeaseLiabilityPaymentDueYearThree
202000 usd
CY2022Q2 crmd Lessee Operating Lease Liability Payment Due Year Four
LesseeOperatingLeaseLiabilityPaymentDueYearFour
205000 usd
CY2022Q2 crmd Lessee Operating Lease Liability Payment Due Year Five
LesseeOperatingLeaseLiabilityPaymentDueYearFive
208000 usd
CY2022Q2 crmd Lessee Operating Lease Liability Payment Due After Year Five
LesseeOperatingLeaseLiabilityPaymentDueAfterYearFive
380000 usd
CY2022Q2 crmd Lessee Operating Lease Liability Payment Due
LesseeOperatingLeaseLiabilityPaymentDue
1095000 usd
CY2022Q2 us-gaap Unrecorded Unconditional Purchase Obligation Imputed Interest
UnrecordedUnconditionalPurchaseObligationImputedInterest
231000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
864000 usd
crmd Accounts Receivable From Customers Percentage
AccountsReceivableFromCustomersPercentage
0.10 pure
CY2022Q2 crmd Concentration Risk Percentage
ConcentrationRiskPercentage
0.10 pure
crmd Concentration Risk Percentage
ConcentrationRiskPercentage
0.10 pure
CY2021Q2 crmd Concentration Risk Percentage
ConcentrationRiskPercentage
0.10 pure
crmd Concentration Risk Percentage
ConcentrationRiskPercentage
0.10 pure
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001410098

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