2024 Q4 Form 10-Q Financial Statement

#000121390024091961 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q4
Revenue $11.46M $0.00
YoY Change -100.0%
Cost Of Revenue $686.6K $0.00
YoY Change -100.0%
Gross Profit $10.77M $0.00
YoY Change -100.0%
Gross Profit Margin 94.01%
Selling, General & Admin $13.33M $13.38M
YoY Change 70.82% 139.98%
% of Gross Profit 123.77%
Research & Development $727.1K $2.289M
YoY Change -72.71% -19.5%
% of Gross Profit 6.75%
Depreciation & Amortization $77.41K $18.67K
YoY Change 287.05% -17.1%
% of Gross Profit 0.72%
Operating Expenses $14.06M $15.67M
YoY Change 34.29% 86.12%
Operating Profit -$3.287M -$15.67M
YoY Change -68.59% 86.77%
Interest Expense $510.5K $914.7K
YoY Change 3793.24% 407.41%
% of Operating Profit
Other Income/Expense, Net $510.5K
YoY Change -29.38%
Pretax Income -$2.777M -$14.75M
YoY Change -71.49% 79.73%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.777M -$14.75M
YoY Change -71.5% 79.73%
Net Earnings / Revenue -24.24%
Basic Earnings Per Share -$0.05
Diluted Earnings Per Share -$0.05 -$0.26
COMMON SHARES
Basic Shares Outstanding 60.68M shares 55.86M shares 54.81M shares
Diluted Shares Outstanding 58.83M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.03M $76.03M
YoY Change -46.84% 29.32%
Cash & Equivalents $35.29M $43.64M
Short-Term Investments $10.74M $32.39M
Other Short-Term Assets $3.088M $1.313M
YoY Change 25.01% 73.07%
Inventory $6.649M $2.106M
Prepaid Expenses $170.7K $353.6K
Receivables $17.39M
Other Receivables $0.00
Total Short-Term Assets $73.15M $79.45M
YoY Change -17.86% 33.42%
LONG-TERM ASSETS
Property, Plant & Equipment $1.900M $1.866M
YoY Change 19.57% 15.94%
Goodwill
YoY Change
Intangibles $1.896M $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $105.1K $103.1K
YoY Change 5.08% 0.72%
Total Long-Term Assets $4.432M $2.610M
YoY Change 87.26% 4.92%
TOTAL ASSETS
Total Short-Term Assets $73.15M $79.45M
Total Long-Term Assets $4.432M $2.610M
Total Assets $77.59M $82.06M
YoY Change -15.14% 32.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.344M $4.280M
YoY Change -43.68% 94.34%
Accrued Expenses $16.97M $6.970M
YoY Change 230.34% 75.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.48M $11.40M
YoY Change 140.92% 80.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $393.0K $517.0K
YoY Change -29.83% -22.56%
Total Long-Term Liabilities $393.0K $517.0K
YoY Change -29.83% -22.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.48M $11.40M
Total Long-Term Liabilities $393.0K $517.0K
Total Liabilities $18.87M $11.92M
YoY Change 129.41% 70.77%
SHAREHOLDERS EQUITY
Retained Earnings -$353.1M -$321.7M
YoY Change 15.03% 16.83%
Common Stock $57.89K $54.94K
YoY Change 5.61% 28.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $58.71M $70.14M
YoY Change
Total Liabilities & Shareholders Equity $77.59M $82.06M
YoY Change -15.14% 32.27%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q4
OPERATING ACTIVITIES
Net Income -$2.777M -$14.75M
YoY Change -71.5% 79.73%
Depreciation, Depletion And Amortization $77.41K $18.67K
YoY Change 287.05% -17.1%
Cash From Operating Activities -$13.65M -$10.75M
YoY Change 57.08% 74.59%
INVESTING ACTIVITIES
Capital Expenditures $9.760K $295.9K
YoY Change -2.4% 129.85%
Acquisitions
YoY Change
Other Investing Activities $6.331M $893.7K
YoY Change -1191.58% 604.27%
Cash From Investing Activities $6.321M $597.8K
YoY Change -1171.42% -32239.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.07M 467.6K
YoY Change -67.19% -92.26%
NET CHANGE
Cash From Operating Activities -13.65M -10.75M
Cash From Investing Activities 6.321M 597.8K
Cash From Financing Activities 14.07M 467.6K
Net Change In Cash 6.746M -9.680M
YoY Change -79.94% 8611.53%
FREE CASH FLOW
Cash From Operating Activities -$13.65M -$10.75M
Capital Expenditures $9.760K $295.9K
Free Cash Flow -$13.66M -$11.04M
YoY Change 57.01% 75.72%

Facts In Submission

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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Proceeds From Sale Of Short Term Investments
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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InterestPaidNet
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us-gaap Unrealized Gain Loss On Investments
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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
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Unrealized Gain Loss On Investments
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us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company bases its estimates and judgments on historical experience and various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities and disclosure of contingent assets and liabilities in the Company’s consolidated balance sheets and the reported amounts of revenue and expenses reported for each of the periods presented are affected by estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from those estimates.</p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reclassifications</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain reclassifications were made to the prior year’s amounts to conform to the 2024 presentation.</p>
us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Concentrations</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The major customers of the Company are defined as those constituting greater than 10% of its total revenue. In the three and nine months ended September 30, 2024, the Company had sales to one customer that accounted for 98% and 92% of its total revenue of $11,456,000 and $12,262,000, respectively. This customer also accounts for 100% of the Company’s accounts receivable as of September 30, 2024. The Company currently has one FDA approved source for each of its two key active pharmaceutical ingredients for DefenCath, taurolidine and heparin sodium.</p>
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2024Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
105084 usd
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
187210 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35391222 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53501021 usd
CY2024Q3 crmd Common Stock Remaining Share Value Available For Sale
CommonStockRemainingShareValueAvailableForSale
36012000 usd
crmd Common Stock Remaining Capacity
CommonStockRemainingCapacity
100000000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company bases its estimates and judgments on historical experience and various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities and disclosure of contingent assets and liabilities in the Company’s consolidated balance sheets and the reported amounts of revenue and expenses reported for each of the periods presented are affected by estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from those estimates.</p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reclassifications</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain reclassifications were made to the prior year’s amounts to conform to the 2024 presentation.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Concentrations</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The major customers of the Company are defined as those constituting greater than 10% of its total revenue. In the three and nine months ended September 30, 2024, the Company had sales to one customer that accounted for 98% and 92% of its total revenue of $11,456,000 and $12,262,000, respectively. This customer also accounts for 100% of the Company’s accounts receivable as of September 30, 2024. The Company currently has one FDA approved source for each of its two key active pharmaceutical ingredients for DefenCath, taurolidine and heparin sodium.</p>
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35286138 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53313811 usd
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
105084 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35391222 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53501021 usd
CY2024Q3 crmd Common Stock Remaining Share Value Available For Sale
CommonStockRemainingShareValueAvailableForSale
36012000 usd
crmd Common Stock Remaining Capacity
CommonStockRemainingCapacity
100000000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company bases its estimates and judgments on historical experience and various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities and disclosure of contingent assets and liabilities in the Company’s consolidated balance sheets and the reported amounts of revenue and expenses reported for each of the periods presented are affected by estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from those estimates.</p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reclassifications</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain reclassifications were made to the prior year’s amounts to conform to the 2024 presentation.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Concentrations</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The major customers of the Company are defined as those constituting greater than 10% of its total revenue. In the three and nine months ended September 30, 2024, the Company had sales to one customer that accounted for 98% and 92% of its total revenue of $11,456,000 and $12,262,000, respectively. This customer also accounts for 100% of the Company’s accounts receivable as of September 30, 2024. The Company currently has one FDA approved source for each of its two key active pharmaceutical ingredients for DefenCath, taurolidine and heparin sodium.</p>
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35286138 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53313811 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35391222 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53501021 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
33760120 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
254 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5503 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
33765369 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
64920279 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1425 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
10506 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1525420 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
961367 usd
CY2024Q3 crmd Provisions For The Revenue Reserves
ProvisionsForTheRevenueReserves
6598000 usd
crmd Provisions For The Revenue Reserves
ProvisionsForTheRevenueReserves
6792000 usd
crmd Revenue Variable Consideration
RevenueVariableConsideration
6753000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
33760120 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
254 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5503 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
33765369 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
64920279 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
64929360 usd
CY2024Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
603545 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1525420 usd
CY2024Q3 crmd Provisions For The Revenue Reserves
ProvisionsForTheRevenueReserves
6598000 usd
crmd Revenue Variable Consideration
RevenueVariableConsideration
6753000 usd
CY2024Q3 us-gaap Derivative Underlying Investment Shares
DerivativeUnderlyingInvestmentShares
2500625 shares
CY2024Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
33760120 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
254 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5503 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
33765369 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
64920279 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1425 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
10506 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
64929360 usd
crmd Inventories Expensed As Research And Development
InventoriesExpensedAsResearchAndDevelopment
6177000 usd
CY2024Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
603545 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1525420 usd
CY2024Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
5084583 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
580925 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
961367 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
6649495 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
2106345 usd
crmd Revenue Variable Consideration
RevenueVariableConsideration
6753000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11428673 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13428202 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11428673 shares
CY2024Q3 us-gaap Materials Supplies And Other
MaterialsSuppliesAndOther
1066987 usd
CY2024Q3 crmd Food And Drug Administration Filling Fee
FoodAndDrugAdministrationFillingFee
599411 usd
CY2024Q3 us-gaap Prepaid Advertising
PrepaidAdvertising
505627 usd
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2916889 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
882214 usd
CY2024Q3 us-gaap Materials Supplies And Other
MaterialsSuppliesAndOther
1066987 usd
CY2024Q3 crmd Food And Drug Administration Filling Fee
FoodAndDrugAdministrationFillingFee
599411 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
118091 usd
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2916889 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
882214 usd
CY2024Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
4788529 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
2718770 usd
CY2024Q3 crmd Manufacturing Development Current
ManufacturingDevelopmentCurrent
3037736 usd
CY2023Q4 crmd Manufacturing Development Current
ManufacturingDevelopmentCurrent
1835101 usd
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
584374 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2270022 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
191995 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
146324 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16973677 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6970217 usd
crmd Amount Of Initial Licensing Fee
AmountOfInitialLicensingFee
325000 usd
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
2000000 usd
crmd Additional Amount Of Achievement Of Milestones
AdditionalAmountOfAchievementOfMilestones
500000 usd
CY2024Q3 us-gaap Materials Supplies And Other
MaterialsSuppliesAndOther
1066987 usd
CY2024Q3 crmd Food And Drug Administration Filling Fee
FoodAndDrugAdministrationFillingFee
599411 usd
CY2024Q3 us-gaap Prepaid Advertising
PrepaidAdvertising
505627 usd
CY2023Q4 us-gaap Prepaid Advertising
PrepaidAdvertising
171393 usd
CY2024Q3 crmd Prepaid Subscriptions Current
PrepaidSubscriptionsCurrent
301291 usd
CY2023Q4 crmd Prepaid Subscriptions Current
PrepaidSubscriptionsCurrent
466114 usd
CY2024Q3 crmd Prepaid Medical Affairs Current
PrepaidMedicalAffairsCurrent
198048 usd
CY2024Q3 us-gaap Prepaid Insurance
PrepaidInsurance
94246 usd
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
126616 usd
CY2024Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
151279 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
118091 usd
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2916889 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
882214 usd
CY2024Q3 crmd Accrued Grosstonet Deduction
AccruedGrosstonetDeduction
-6371043 usd
CY2024Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
4788529 usd
CY2024Q3 crmd Manufacturing Development Current
ManufacturingDevelopmentCurrent
3037736 usd
CY2024Q3 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
2000000 usd
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
584374 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2270022 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
146324 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16973677 usd
crmd Amount Of Initial Licensing Fee
AmountOfInitialLicensingFee
325000 usd
crmd Number Of Shares Released In Escrow
NumberOfSharesReleasedInEscrow
7277 shares
crmd Balance Of Cash Payments Due Upon Achievement Of Milestones
BalanceOfCashPaymentsDueUponAchievementOfMilestones
2000000 usd
crmd Additional Amount Of Achievement Of Milestones
AdditionalAmountOfAchievementOfMilestones
500000 usd
CY2024Q3 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
2000000 usd
CY2024Q2 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
150000000 usd
crmd Gross Proceeds Sale Of Common Stock Percentage
GrossProceedsSaleOfCommonStockPercentage
0.03 pure
CY2024Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
100000000 usd
CY2024Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
2290024 shares
CY2024Q3 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
12367000 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
2718770 usd
CY2024Q3 crmd Manufacturing Development Current
ManufacturingDevelopmentCurrent
3037736 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2270022 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
191995 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
146324 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16973677 usd
crmd Balance Of Cash Payments Due Upon Achievement Of Milestones
BalanceOfCashPaymentsDueUponAchievementOfMilestones
2000000 usd
crmd Additional Amount Of Achievement Of Milestones
AdditionalAmountOfAchievementOfMilestones
500000 usd
CY2024Q3 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
2000000 usd
CY2024Q2 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
150000000 usd
crmd Gross Proceeds Sale Of Common Stock Percentage
GrossProceedsSaleOfCommonStockPercentage
0.03 pure
CY2024Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
100000000 usd
CY2024Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
2290024 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
62241 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
103734 shares
CY2024Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
107000 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
583000 usd
CY2023Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
53000 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
207000 usd
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2023Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
CY2024Q3 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
2000000 usd
CY2024Q2 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
150000000 usd
crmd Gross Proceeds Sale Of Common Stock Percentage
GrossProceedsSaleOfCommonStockPercentage
0.03 pure
CY2024Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
100000000 usd
CY2024Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
2290024 shares
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
2521121 shares
CY2024Q3 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
12367000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
62241 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
103734 shares
CY2024Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
107000 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
583000 usd
CY2023Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
53000 usd
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2024Q3 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M26D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9885 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
0.0415 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
62241 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
103734 shares
CY2024Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
107000 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
583000 usd
CY2023Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
53000 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
207000 usd
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2023Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M26D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9885 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
0.0415 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2020Q3 us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
17000 usd
CY2024Q3 crmd Rental Agreement Expense
RentalAgreementExpense
400 eur
CY2024Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
51000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
153000 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
52000 usd
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2024Q3 us-gaap Preferred Stock Shares Outstanding
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0001213900-24-091961-index.html Edgar Link pending
0001213900-24-091961.txt Edgar Link pending
0001213900-24-091961-xbrl.zip Edgar Link pending
crmd-20240930.xsd Edgar Link pending
ea0218371-10q_cormedix.htm Edgar Link pending
ea021837101ex31-1_cormedix.htm Edgar Link pending
ea021837101ex31-2_cormedix.htm Edgar Link pending
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0001213900-24-091961-index-headers.html Edgar Link pending
0001213900-24-091961-index.html Edgar Link pending
0001213900-24-091961.txt Edgar Link pending
0001213900-24-091961-xbrl.zip Edgar Link pending
crmd-20240930.xsd Edgar Link pending
ea0218371-10q_cormedix.htm Edgar Link pending
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