$KALV
KalVista Pharmaceuticals, Inc.

2015 Q2 Form 10-Q Financial Statement

#000119312515196884 Filed on May 21, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.170M $1.010M $440.0K
YoY Change 69.57% 129.55%
% of Gross Profit
Research & Development $4.500M $3.902M $1.425M
YoY Change 157.14% 173.82%
% of Gross Profit
Depreciation & Amortization $40.00K $31.00K $10.00K
YoY Change 300.0% 210.0%
% of Gross Profit
Operating Expenses $5.674M $4.908M $1.862M
YoY Change 132.45% 163.59%
Operating Profit -$4.901M -$1.856M
YoY Change 164.06%
Interest Expense -$170.0K $836.0K $80.00K
YoY Change 112.5% 945.0%
% of Operating Profit
Other Income/Expense, Net -$3.345M -$283.0K -$159.0K
YoY Change 1580.9% 77.99%
Pretax Income -$9.010M -$5.180M -$2.020M
YoY Change 241.29% 156.44%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$9.012M -$5.184M -$2.015M
YoY Change 242.01% 157.27%
Net Earnings / Revenue -90120.0% -51840.0% -20150.0%
Basic Earnings Per Share
Diluted Earnings Per Share -$5.178M -$4.752M -$1.853M
COMMON SHARES
Basic Shares Outstanding 26.21M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.40M $3.200M
YoY Change 808.33%
Cash & Equivalents $2.526M $3.181M $9.276M
Short-Term Investments
Other Short-Term Assets $1.600M $1.100M
YoY Change 700.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $67.00M $4.308M
YoY Change 805.41%
LONG-TERM ASSETS
Property, Plant & Equipment $400.0K $329.0K
YoY Change 300.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $179.0K
YoY Change 100.0%
Total Long-Term Assets $600.0K $3.404M
YoY Change 200.0%
TOTAL ASSETS
Total Short-Term Assets $67.00M $4.308M
Total Long-Term Assets $600.0K $3.404M
Total Assets $67.60M $7.712M
YoY Change 789.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.000M $2.545M
YoY Change 185.71%
Accrued Expenses $1.700M $1.832M
YoY Change 142.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $5.500M
YoY Change
Long-Term Debt Due $500.0K $1.100M
YoY Change -87.8%
Total Short-Term Liabilities $4.200M $11.01M
YoY Change -25.0%
LONG-TERM LIABILITIES
Long-Term Debt $4.000M $3.400M
YoY Change
Other Long-Term Liabilities $100.0K $2.700M
YoY Change -80.0%
Total Long-Term Liabilities $4.100M $6.100M
YoY Change 720.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.200M $11.01M
Total Long-Term Liabilities $4.100M $6.100M
Total Liabilities $8.300M $17.13M
YoY Change 36.07%
SHAREHOLDERS EQUITY
Retained Earnings -$52.96M
YoY Change
Common Stock $1.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$23.56M -$48.97M
YoY Change
Total Liabilities & Shareholders Equity $67.60M $7.712M
YoY Change 789.47%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$9.012M -$5.184M -$2.015M
YoY Change 242.01% 157.27%
Depreciation, Depletion And Amortization $40.00K $31.00K $10.00K
YoY Change 300.0% 210.0%
Cash From Operating Activities -$6.440M -$4.050M -$1.750M
YoY Change 231.96% 131.43%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K $180.0K $1.000K
YoY Change 0.0% 17900.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$80.00K -$180.0K $0.00
YoY Change 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $120.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 68.72M 3.510M 1.250M
YoY Change -76455.56% 180.8%
NET CHANGE
Cash From Operating Activities -6.440M -4.050M -1.750M
Cash From Investing Activities -80.00K -180.0K 0.000
Cash From Financing Activities 68.72M 3.510M 1.250M
Net Change In Cash 62.20M -720.0K -500.0K
YoY Change -3047.87% 44.0%
FREE CASH FLOW
Cash From Operating Activities -$6.440M -$4.050M -$1.750M
Capital Expenditures -$80.00K $180.0K $1.000K
Free Cash Flow -$6.360M -$4.230M -$1.751M
YoY Change 241.94% 141.58%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
438000
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
73000
CY2015Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
26214107 shares
CY2014Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9276000
CY2015Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
45000000 shares
CY2015Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
708457 shares
CY2015Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
124729 shares
CY2015Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
708457 shares
CY2015Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1595000
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
511000
CY2015Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
768000
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
-48969000
CY2015Q1 us-gaap Debt Instrument Periodic Payment Terms Balloon Payment To Be Paid
DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid
517000
CY2015Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
960000
CY2015Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1595000
CY2015Q1 us-gaap Loans Payable
LoansPayable
4479000
CY2015Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2015Q1 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
45000000 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
691312 shares
CY2015Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3989000
CY2015Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1181000
CY2015Q1 us-gaap Long Term Debt
LongTermDebt
5331000
CY2015Q1 us-gaap Loans Payable Current
LoansPayableCurrent
1075000
CY2015Q1 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
2287000
CY2015Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
500000
CY2015Q1 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
2000
CY2015Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
2636000
CY2015Q1 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
5524000
CY2015Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
2545000
CY2015Q1 us-gaap Long Term Loans Payable
LongTermLoansPayable
3404000
CY2015Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1832000
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-52959000
CY2015Q1 us-gaap Liabilities
Liabilities
17125000
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7712000
CY2015Q1 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
78000
CY2015Q1 us-gaap Common Stock Value
CommonStockValue
1000
CY2015Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
526000
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
11005000
CY2015Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2015Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
349000
CY2015Q1 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2015Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
179000
CY2015Q1 us-gaap Assets
Assets
7712000
CY2015Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
3165000
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
329000
CY2015Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
50000
CY2015Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
106000
CY2015Q1 us-gaap Assets Current
AssetsCurrent
4308000
CY2015Q1 us-gaap Deferred Offering Costs
DeferredOfferingCosts
2846000
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1127000
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3181000
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
855000
CY2015Q1 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2015Q1 cbyl Deferred Revenue Current For License Agreements
DeferredRevenueCurrentForLicenseAgreements
29000
CY2015Q1 cbyl Convertible Preferred Stock Warrant Liability Noncurrent
ConvertiblePreferredStockWarrantLiabilityNoncurrent
349000
CY2015Q1 cbyl Long Term Debt Present Value Of Net Minimum Repayments
LongTermDebtPresentValueOfNetMinimumRepayments
4500000
CY2015Q1 cbyl Accrued Legal Expenses
AccruedLegalExpenses
128000
CY2015Q1 cbyl Accrued Research And Clinical Trial Expenses
AccruedResearchAndClinicalTrialExpenses
460000
CY2015Q1 cbyl Accrued Professional Fees Excluding Legal Fees Current
AccruedProfessionalFeesExcludingLegalFeesCurrent
476000
CY2015Q1 cbyl Debt Instrument Unamortized Portion Of Final Balloon Payment
DebtInstrumentUnamortizedPortionOfFinalBalloonPayment
432000
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9781000
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
124729 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
691312 shares
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
723000
CY2014Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3593000
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
-44181000
CY2014Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
2131000
CY2014Q4 us-gaap Loans Payable Current
LoansPayableCurrent
4435000
CY2014Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
1495000
CY2014Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
2000
CY2014Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
1958000
CY2014Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1024000
CY2014Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1605000
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-47775000
CY2014Q4 us-gaap Liabilities
Liabilities
11269000
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
6644000
CY2014Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
85000
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
1000
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
495000
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
7093000
CY2014Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
463000
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
179000
CY2014Q4 us-gaap Assets
Assets
6644000
CY2014Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
3875000
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
180000
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
50000
CY2014Q4 us-gaap Assets Current
AssetsCurrent
4587000
CY2014Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
1648000
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
690000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3897000
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
675000
CY2014Q4 cbyl Deferred Revenue Current For License Agreements
DeferredRevenueCurrentForLicenseAgreements
29000
CY2014Q4 cbyl Convertible Preferred Stock Warrant Liability Noncurrent
ConvertiblePreferredStockWarrantLiabilityNoncurrent
463000
CY2014Q4 cbyl Accrued Legal Expenses
AccruedLegalExpenses
159000
CY2014Q4 cbyl Accrued Research And Clinical Trial Expenses
AccruedResearchAndClinicalTrialExpenses
380000
CY2014Q4 cbyl Accrued Professional Fees Excluding Legal Fees Current
AccruedProfessionalFeesExcludingLegalFeesCurrent
343000
CY2015Q1 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
831000
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1754000
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.39
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
459286 shares
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-2015000
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2015000
CY2014Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-79000
CY2014Q1 us-gaap Interest Paid
InterestPaid
28000
CY2014Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
68000
CY2014Q1 us-gaap License And Services Revenue
LicenseAndServicesRevenue
6000
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1856000
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-159000
CY2014Q1 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
47000
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
59000
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-505000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
1862000
CY2014Q1 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
105000
CY2014Q1 us-gaap Interest Expense
InterestExpense
80000
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1000
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
1250000
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1425000
CY2014Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
118000
CY2014Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
59000
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
437000
CY2014Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
48000
CY2014Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
1250000
CY2014Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
24000
CY2014Q1 us-gaap Depreciation
Depreciation
10000
CY2014Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10000
CY2014Q1 cbyl Increase Decrease In Accrued License Fees
IncreaseDecreaseInAccruedLicenseFees
-6000
CY2014Q1 cbyl Noncash Issuance Of Preferred Stock Warrants
NoncashIssuanceOfPreferredStockWarrants
20000
CY2014Q1 cbyl Fair Value Adjustment Of Warrants And Derivative Liabilities
FairValueAdjustmentOfWarrantsAndDerivativeLiabilities
-76000
CY2015Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-4049000
CY2015Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015Q1 dei Amendment Flag
AmendmentFlag
false
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-7.38
CY2015Q1 dei Document Type
DocumentType
10-Q
CY2015Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001348911
CY2015Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2004-03-26
CY2015Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2015Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015Q1 dei Entity Registrant Name
EntityRegistrantName
CARBYLAN THERAPEUTICS, INC.
CY2015Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Concentration of Credit Risk</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents. The Company invests its excess cash in money market accounts. The Company&#x2019;s cash and cash equivalents are held by a single financial institution and all cash is held in the United States. Such deposits may, at times, exceed federally insured limits. The Company has not recognized any losses during the periods presented and management does not believe that the Company is exposed to significant credit risk from its cash and cash equivalents.</p> </div>
CY2015Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company's stockholders.
CY2015Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
In March 2015, the Company’s board of directors and stockholders approved a 4-for-1 reverse stock split of the Company’s common and preferred stock. The Company filed an amendment to its certificate of incorporation effecting the reverse stock split on March 13, 2015. All issued and outstanding common stock, convertible preferred stock, warrants for preferred stock, options for common stock and per share amounts contained in the condensed financial statements have been retroactively adjusted to reflect this reverse stock split for all periods presented.
CY2015Q1 us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Embedded Derivatives Related to Convertible Promissory Notes</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Embedded derivatives that are required to be bifurcated from the underlying debt instrument (i.e. host) are accounted for and valued as a separate financial instrument. The Company evaluated the terms and features of the convertible promissory notes issued in September 2014 and February 2015 and identified embedded derivatives requiring bifurcation and accounting at fair value because the economic and contractual characteristics of the embedded derivatives met the criteria for bifurcation and separate accounting due to the conversion features (see Note 7 for a description of the conversion features).</p> </div>
CY2015Q1 dei Document Period End Date
DocumentPeriodEndDate
2015-03-31
CY2015Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.25 pure
CY2015Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Use of Estimates</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The preparation of the interim condensed financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. On an ongoing basis, the Company evaluates its estimates, including those related to common stock, stock-based compensation expense, warrant liabilities, accruals, derivative liability, deferred tax valuation allowance and revenue recognition. Management bases its estimates on historical experience or on various other assumptions, including information received from its service providers, which it believes to be reasonable under the circumstances. Actual results could differ from those estimates.</p> </div>
CY2015Q1 dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
Delaware
CY2015Q1 dei Trading Symbol
TradingSymbol
CBYL
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
701980 shares
CY2015Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00 pure
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
180000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-5184000
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5184000
CY2015Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
553000
CY2015Q1 us-gaap Interest Paid
InterestPaid
44000
CY2015Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
437000
CY2015Q1 us-gaap License And Services Revenue
LicenseAndServicesRevenue
7000
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
607000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4901000
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-283000
CY2015Q1 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
48000
CY2015Q1 us-gaap Operating Leases Income Statement Sublease Revenue
OperatingLeasesIncomeStatementSubleaseRevenue
16000
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
118000
CY2015Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2015Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
4000000
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-716000
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
4908000
CY2015Q1 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
108000
CY2015Q1 us-gaap Interest Expense
InterestExpense
836000
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-180000
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
3513000
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3902000
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
120000
CY2015Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
146000
CY2015Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
118000
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1006000
CY2015Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
707000
CY2015Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1011000
CY2015Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
84000
CY2015Q1 us-gaap Depreciation
Depreciation
31000
CY2015Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
31000
CY2015Q1 us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2015Q1 cbyl Increase Decrease In Accrued License Fees
IncreaseDecreaseInAccruedLicenseFees
-7000
CY2015Q1 cbyl Noncash Deferred Public Offering Costs
NoncashDeferredPublicOfferingCosts
591000
CY2015Q1 cbyl Noncash Or Part Noncash Beneficial Conversion Feature Of Convertible Promissory Notes
NoncashOrPartNoncashBeneficialConversionFeatureOfConvertiblePromissoryNotes
158000
CY2015Q1 cbyl Fair Value Adjustment Of Warrants And Derivative Liabilities
FairValueAdjustmentOfWarrantsAndDerivativeLiabilities
518000
CY2015Q1 cbyl Derivative Liability Relates To Convertible Promissory Notes Up On Issuance
DerivativeLiabilityRelatesToConvertiblePromissoryNotesUpOnIssuance
1196000

Files In Submission

Name View Source Status
0001193125-15-196884-index-headers.html Edgar Link pending
0001193125-15-196884-index.html Edgar Link pending
0001193125-15-196884.txt Edgar Link pending
0001193125-15-196884-xbrl.zip Edgar Link pending
cbyl-20150331.xml Edgar Link completed
cbyl-20150331.xsd Edgar Link pending
cbyl-20150331_cal.xml Edgar Link unprocessable
cbyl-20150331_def.xml Edgar Link unprocessable
cbyl-20150331_lab.xml Edgar Link unprocessable
cbyl-20150331_pre.xml Edgar Link unprocessable
d914057d10q.htm Edgar Link pending
d914057dex311.htm Edgar Link pending
d914057dex312.htm Edgar Link pending
d914057dex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending