$CRNX
Crinetics Pharmaceuticals, Inc.

2019 Q4 Form 10-K Financial Statement

#000156459020009365 Filed on March 09, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2019 Q2
Revenue $321.0K $505.0K $0.00
YoY Change -58.9% -7.85% -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.390M $3.910M $3.060M
YoY Change 32.42% 126.01% 173.21%
% of Gross Profit
Research & Development $12.14M $11.82M $10.29M
YoY Change 58.71% 71.7% 96.96%
% of Gross Profit
Depreciation & Amortization $230.0K $230.0K $230.0K
YoY Change 9.52% 64.29% 228.57%
% of Gross Profit
Operating Expenses $15.54M $15.73M $13.35M
YoY Change 52.12% 82.57% 110.49%
Operating Profit -$13.35M
YoY Change 134.82%
Interest Expense $660.0K $840.0K $960.0K
YoY Change -34.0% 58.49% 540.0%
% of Operating Profit
Other Income/Expense, Net $10.00K $799.0K $918.0K
YoY Change -116.67% 65.77% 698.26%
Pretax Income -$14.55M -$14.43M -$12.43M
YoY Change 71.18% 90.12% 123.16%
Income Tax
% Of Pretax Income
Net Earnings -$14.55M -$14.43M -$12.43M
YoY Change 71.27% 90.17% 123.19%
Net Earnings / Revenue -4532.4% -2857.43%
Basic Earnings Per Share
Diluted Earnings Per Share -$600.2K -$596.0K -$514.5K
COMMON SHARES
Basic Shares Outstanding 24.22M 24.20M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $118.4M $131.7M $145.0M
YoY Change -27.76% -22.39% 111.99%
Cash & Equivalents $40.33M $66.58M $59.72M
Short-Term Investments $78.10M $65.10M $85.30M
Other Short-Term Assets $668.0K $1.476M $563.0K
YoY Change -23.74% 68.3% 79.87%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $123.3M $135.4M $147.8M
YoY Change -26.0% -20.84% 111.25%
LONG-TERM ASSETS
Property, Plant & Equipment $3.946M $4.035M $4.264M
YoY Change -6.76% -7.31% 135.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $82.00K $500.0K $500.0K
YoY Change -83.6% -36.63% -79.6%
Total Long-Term Assets $7.038M $7.105M $7.391M
YoY Change 48.73% 25.93% 55.31%
TOTAL ASSETS
Total Short-Term Assets $123.3M $135.4M $147.8M
Total Long-Term Assets $7.038M $7.105M $7.391M
Total Assets $130.4M $142.5M $155.1M
YoY Change -23.94% -19.34% 107.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.800M $2.113M $2.705M
YoY Change 229.67% 51.14% 3.92%
Accrued Expenses $3.600M $3.177M $3.243M
YoY Change -14.08% -22.81% 6.85%
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 $8.340M $7.882M $7.750M
YoY Change 5.24% 42.95% 37.46%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.900M $5.100M $5.300M
YoY Change 48.48% 41.67% 307.69%
Total Long-Term Liabilities $4.900M $5.100M $5.300M
YoY Change 48.48% 41.67% 307.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.340M $7.882M $7.750M
Total Long-Term Liabilities $4.900M $5.100M $5.300M
Total Liabilities $13.24M $12.99M $13.05M
YoY Change 18.3% 41.77% 88.96%
SHAREHOLDERS EQUITY
Retained Earnings -$93.80M -$79.25M -$64.82M
YoY Change 116.23% 127.18% 137.47%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $117.1M $129.5M $142.1M
YoY Change
Total Liabilities & Shareholders Equity $130.4M $142.5M $155.1M
YoY Change -23.94% -19.34% 107.69%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income -$14.55M -$14.43M -$12.43M
YoY Change 71.27% 90.17% 123.19%
Depreciation, Depletion And Amortization $230.0K $230.0K $230.0K
YoY Change 9.52% 64.29% 228.57%
Cash From Operating Activities -$13.45M -$13.60M -$12.57M
YoY Change 123.79% 139.02% 188.97%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K $0.00 -$50.00K
YoY Change -89.29% -100.0% -89.36%
Acquisitions
YoY Change
Other Investing Activities -$12.79M $20.44M $9.500M
YoY Change -89.2%
Cash From Investing Activities -$12.82M $20.45M $9.440M
YoY Change -89.2% -8280.0% -2108.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $75.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.00K 20.00K 10.00K
YoY Change 100.0% -99.98% -101.96%
NET CHANGE
Cash From Operating Activities -13.45M -13.60M -12.57M
Cash From Investing Activities -12.82M 20.45M 9.440M
Cash From Financing Activities 20.00K 20.00K 10.00K
Net Change In Cash -26.25M 6.870M -3.120M
YoY Change -78.95% -93.21% -41.46%
FREE CASH FLOW
Cash From Operating Activities -$13.45M -$13.60M -$12.57M
Capital Expenditures -$30.00K $0.00 -$50.00K
Free Cash Flow -$13.42M -$13.60M -$12.52M
YoY Change 134.21% 150.0% 222.68%

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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40826000
CY2017 us-gaap Interest Paid Net
InterestPaidNet
8000
CY2019 crnx Purchase Of Shares Pursuant To Employee Stock Purchase Plan
PurchaseOfSharesPursuantToEmployeeStockPurchasePlan
735000
CY2018 crnx Purchase Of Shares Pursuant To Employee Stock Purchase Plan
PurchaseOfSharesPursuantToEmployeeStockPurchasePlan
282000
CY2019 crnx Change In Unvested Stock Liability
ChangeInUnvestedStockLiability
94000
CY2018 crnx Change In Unvested Stock Liability
ChangeInUnvestedStockLiability
21000
CY2017 crnx Change In Unvested Stock Liability
ChangeInUnvestedStockLiability
2000
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
112000
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
42000
CY2018 crnx Tenant Improvement Allowance
TenantImprovementAllowance
3304000
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (&#8220;U.S. GAAP&#8221;). The preparation of the Company&#8217;s consolidated financial statements requires it to make estimates and assumptions that impact the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company&#8217;s consolidated financial statements and accompanying notes. The most significant estimates in the Company&#8217;s consolidated financial statements relate to accrued amounts receivable under the Australian research and development tax incentive program, accrued expenses and associated research and development expense, the assumptions underlying the determination of the estimated incremental borrowing rate for the determination of the Company&#8217;s operating lease right-of-use asset, and the assumptions underlying the determination of the fair value of equity awards for purposes of determining stock-based compensation. Although these estimates are based on the Company&#8217;s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</p>
CY2019 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Concentrations of Credit Risk</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and investment securities. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant risk on its cash balances due to the financial position of the depository institution in which those deposits are held. Additionally, the Company has established guidelines regarding approved investments and maturities of investments, which are designed to maintain safety and liquidity.</p>
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
152000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
4000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
78066000
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
118841000
CY2019 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2019Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
118400000
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2018 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2017 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
77918000
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
74000
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
13000
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
118902000
CY2019Q4 us-gaap Debt Securities Available For Sale Term
DebtSecuritiesAvailableForSaleTerm
P24M
CY2018Q4 us-gaap Debt Securities Available For Sale Term
DebtSecuritiesAvailableForSaleTerm
P24M
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2019Q4 crnx Prepaid Research And Development Costs Current
PrepaidResearchAndDevelopmentCostsCurrent
2478000
CY2018Q4 crnx Prepaid Research And Development Costs Current
PrepaidResearchAndDevelopmentCostsCurrent
8000
CY2019Q4 crnx Foreign Tax Incentive Receivable Current
ForeignTaxIncentiveReceivableCurrent
929000
CY2018Q4 crnx Foreign Tax Incentive Receivable Current
ForeignTaxIncentiveReceivableCurrent
1016000
CY2019Q4 us-gaap Grants Receivable Current
GrantsReceivableCurrent
225000
CY2018Q4 us-gaap Grants Receivable Current
GrantsReceivableCurrent
568000
CY2019Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
224000
CY2018Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
340000
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1091000
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
876000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5570000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4973000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1624000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
741000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1123000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1173000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1208000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1244000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1280000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
871000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6899000
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1326000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5573000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
724000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2339157
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
900175
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
90322
CY2019 crnx Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited And Expired
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedAndExpired
21619
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3127391
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1236908
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.40
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
23.96
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.40
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
17.35
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.52
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.96
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y4M24D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y10M24D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
42777000
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
22510000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2000000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2400000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
16.35
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.66
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
29319000
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
13443000
CY2019Q4 crnx Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
702000
CY2018Q4 crnx Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
0
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.85
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6294000
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2320000
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
271000
CY2019Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
17700000
CY2019 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M18D
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
54500000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
61600000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
400000
CY2019 us-gaap Tax Credit Carryforward Limitations On Use
TaxCreditCarryforwardLimitationsOnUse
Future utilization of the Company’s NOL and R&D credit carryforwards to offset future taxable income may be subject to a substantial annual limitation as a result of ownership changes that may have occurred or that could occur in the future pursuant to Internal Revenue Code Sections 382 and 383. These ownership changes may limit the amount of NOL and R&D credit carryforwards that can be utilized to offset future taxable income and tax, respectively. In general, an “ownership change” as defined by the tax code results from a transaction or series of transactions over a three-year period resulting in an ownership change of more than 50 percent of the outstanding stock of a company by certain stockholders or public groups.
CY2019Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
15990000
CY2018Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2664000
CY2019Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
4864000
CY2018Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
6355000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
4676000
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1788000
CY2019Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
1560000
CY2018Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
0
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
2229000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
2636000
CY2019Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
22000
CY2018Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
866000
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
28595000
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
12577000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
28595000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
12577000
CY2019Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2018Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-48643000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-25876000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-8141000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-1779000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-1239000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-1016000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-50422000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-27115000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9157000
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-10589000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-5694000
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-3113000
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-3431000
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1758000
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-474000
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
16064000
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
7724000
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
2112000
CY2019Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3060000
CY2019 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
2485000
CY2018 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
1129000
CY2017 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
525000
CY2019 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-52000
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
1602000
CY2019 us-gaap Income Tax Reconciliation Tax Settlements Foreign
IncomeTaxReconciliationTaxSettlementsForeign
307000
CY2018 us-gaap Income Tax Reconciliation Tax Settlements Foreign
IncomeTaxReconciliationTaxSettlementsForeign
362000
CY2017 us-gaap Income Tax Reconciliation Tax Settlements Foreign
IncomeTaxReconciliationTaxSettlementsForeign
176000
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
134000
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
547000
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
222000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
344000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
159000
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
68000
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
70000
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
472000
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
185000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
91000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
886000
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3160000
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2466000
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10108000
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
367000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
505000
CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
321000
CY2019Q1 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
us-gaap:GrantMember
CY2019Q2 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
us-gaap:GrantMember
CY2019Q3 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
us-gaap:GrantMember
CY2019Q4 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
us-gaap:GrantMember
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7255000
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10285000
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11823000
CY2019Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12143000
CY2019Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3156000
CY2019Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3911000
CY2019Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3392000
CY2019Q1 us-gaap Operating Expenses
OperatingExpenses
10411000
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
13345000
CY2019Q3 us-gaap Operating Expenses
OperatingExpenses
15734000
CY2019Q4 us-gaap Operating Expenses
OperatingExpenses
15535000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-9016000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-12427000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-14430000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
-14549000
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.37
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.51
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.60
CY2019Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.60
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
442000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
657000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
548000
CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
781000
CY2018Q1 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
us-gaap:GrantMember
CY2018Q2 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
us-gaap:GrantMember
CY2018Q3 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
us-gaap:GrantMember
CY2018Q4 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
us-gaap:GrantMember
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4720000
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5222000
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6886000
CY2018Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7651000
CY2018Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1248000
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1118000
CY2018Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1732000
CY2018Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2561000
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
5968000
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
6340000
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
8618000
CY2018Q4 us-gaap Operating Expenses
OperatingExpenses
10212000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-5464000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-5568000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-7588000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
-8495000
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.92
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.41
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.38
CY2018Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.35

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0001564590-20-009365.txt Edgar Link pending
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crnx-10k_20191231.htm Edgar Link pending
crnx-20191231.xml Edgar Link completed
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crnx-20191231_lab.xml Edgar Link unprocessable
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