$KALV
KalVista Pharmaceuticals, Inc.

2016 Q4 Form 10-Q Financial Statement

#000156459016028340 Filed on November 08, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q4
Revenue $197.0K $975.0K $667.0K
YoY Change -70.46% 16.21% 6570.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.080M $1.320M
YoY Change 51.82% 67.09%
% of Gross Profit
Research & Development $2.929M $3.395M $4.260M
YoY Change -31.24% -3.91% 40.59%
% of Gross Profit
Depreciation & Amortization $8.000K $30.00K
YoY Change -73.33% 200.0%
% of Gross Profit
Operating Expenses $4.223M $6.095M $4.192M
YoY Change 0.74% 84.59% 9.59%
Operating Profit -$4.025M -$5.120M
YoY Change 4.51%
Interest Expense $20.00K -$90.00K
YoY Change -78.95% -83.93%
% of Operating Profit
Other Income/Expense, Net $1.683M $0.00
YoY Change 168200.0% -100.0%
Pretax Income -$2.390M -$5.660M
YoY Change -52.1% 20.17%
Income Tax
% Of Pretax Income
Net Earnings -$3.297M -$3.436M -$2.599M
YoY Change 26.86% 100.23% -44.87%
Net Earnings / Revenue -1673.6% -352.41% -389.66%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.271M -$3.198M
COMMON SHARES
Basic Shares Outstanding 26.34M 26.32M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.20M $53.70M
YoY Change -41.24% 1276.92%
Cash & Equivalents $10.69M $15.63M $53.72M
Short-Term Investments
Other Short-Term Assets $600.0K $1.200M
YoY Change -62.5% 71.43%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $35.80M $54.95M
YoY Change -41.74% 1097.84%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $805.0K
YoY Change -100.0% 347.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $991.0K
YoY Change -54.13% 453.63%
Total Long-Term Assets $100.0K $1.846M
YoY Change -84.13% -10.26%
TOTAL ASSETS
Total Short-Term Assets $35.80M $54.95M
Total Long-Term Assets $100.0K $1.846M
Total Assets $35.90M $56.79M
YoY Change -42.17% 754.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $400.0K $1.460M
YoY Change -73.8% 42.58%
Accrued Expenses $1.400M $1.327M
YoY Change 10.06% -17.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.500M
YoY Change -100.0% -65.91%
Total Short-Term Liabilities $1.891M $4.271M
YoY Change -50.15% -39.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $3.200M
YoY Change -100.0% 52.38%
Other Long-Term Liabilities $0.00 $100.0K
YoY Change -100.0% -95.0%
Total Long-Term Liabilities $0.00 $3.300M
YoY Change -100.0% -19.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.891M $4.271M
Total Long-Term Liabilities $0.00 $3.300M
Total Liabilities $1.926M $7.481M
YoY Change -74.18% -33.61%
SHAREHOLDERS EQUITY
Retained Earnings -$88.96M -$72.62M
YoY Change 32.86% 52.01%
Common Stock $122.9M $121.9M
YoY Change 1.08% 3292.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.94M $49.31M
YoY Change
Total Liabilities & Shareholders Equity $35.86M $56.79M
YoY Change -42.23% 754.77%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income -$3.297M -$3.436M -$2.599M
YoY Change 26.86% 100.23% -44.87%
Depreciation, Depletion And Amortization $8.000K $30.00K
YoY Change -73.33% 200.0%
Cash From Operating Activities -$1.620M -$5.060M
YoY Change -69.49% 16.86%
INVESTING ACTIVITIES
Capital Expenditures $43.00K -$380.0K
YoY Change -315.0% 375.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$720.0K
YoY Change
Cash From Investing Activities $0.00 -$1.090M
YoY Change -100.0% 1262.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.00K 0.000
YoY Change -105.88% -100.0%
NET CHANGE
Cash From Operating Activities -1.620M -5.060M
Cash From Investing Activities 0.000 -1.090M
Cash From Financing Activities 10.00K 0.000
Net Change In Cash -1.610M -6.150M
YoY Change -70.73% 13.47%
FREE CASH FLOW
Cash From Operating Activities -$1.620M -$5.060M
Capital Expenditures $43.00K -$380.0K
Free Cash Flow -$1.663M -$4.680M
YoY Change -68.56% 10.12%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1373000
dei Entity Registrant Name
EntityRegistrantName
CARBYLAN THERAPEUTICS, INC.
dei Entity Central Index Key
EntityCentralIndexKey
0001348911
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1222000
CY2015Q4 us-gaap Assets Current
AssetsCurrent
54945000
CY2015Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
3154000
dei Document Period End Date
DocumentPeriodEndDate
2016-09-30
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Trading Symbol
TradingSymbol
CBYL
CY2016Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
26344104
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53723000
us-gaap Operating Income Loss
OperatingIncomeLoss
-15897000
us-gaap Operating Income Loss
OperatingIncomeLoss
-15467000
CY2016Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
19000
CY2015Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
2000
us-gaap Investment Income Interest
InvestmentIncomeInterest
50000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26338238
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
49310000
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
56791000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16642715
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
33937000
CY2015Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
56000
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
35863000
CY2016Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2080000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-4991000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-2385000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11939000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3549000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4812000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6226000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
2412000
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-72621000
CY2016Q3 us-gaap Common Stock Value
CommonStockValue
27000
CY2016Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
122873000
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-88963000
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
27000
CY2015Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
121904000
us-gaap Net Income Loss
NetIncomeLoss
-19187000
us-gaap Net Income Loss
NetIncomeLoss
-16342000
CY2016Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
365000
CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
727000
us-gaap Investment Income Interest
InvestmentIncomeInterest
4000
CY2016Q3 us-gaap Liabilities Current
LiabilitiesCurrent
1891000
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2000
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.15
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
34000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.62
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
98000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
962000
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
29000
CY2016Q3 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
35000
CY2016Q3 us-gaap Liabilities
Liabilities
1926000
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2016Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2016Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
26344104
CY2016Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26344104
CY2016Q3 us-gaap License And Services Revenue
LicenseAndServicesRevenue
7000
CY2015Q3 us-gaap License And Services Revenue
LicenseAndServicesRevenue
7000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
4906000
us-gaap Restructuring Charges
RestructuringCharges
3420000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1460000
us-gaap Operating Expenses
OperatingExpenses
15918000
us-gaap Operating Expenses
OperatingExpenses
15488000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-2405000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-4899000
CY2015Q3 us-gaap Interest Expense
InterestExpense
95000
us-gaap Interest Expense
InterestExpense
493000
us-gaap Interest Expense
InterestExpense
1100000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
553000
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26343108
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.19
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26322494
CY2015Q4 us-gaap Liabilities
Liabilities
7481000
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
26322494
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26322494
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-3177000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
23000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
444000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-520000
cbyl Non Cash Interest Income Expense
NonCashInterestIncomeExpense
-58000
cbyl Non Cash Interest Income Expense
NonCashInterestIncomeExpense
-192000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
83000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
773000
cbyl Gains Losses On Extinguishment Of Loan Payable
GainsLossesOnExtinguishmentOfLoanPayable
-250000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-945000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
881000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-59000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
39000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1029000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
503000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
104000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-335000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-21000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-21000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-13960000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-15796000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
245000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
280000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
183000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-62000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-280000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
149000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
67908000
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
4000000
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
4500000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-4493000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
72057000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-18515000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
55981000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3897000
CY2015Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59878000
us-gaap Interest Paid
InterestPaid
606000
us-gaap Interest Paid
InterestPaid
45000
cbyl Transfer Of Long Term Deposits To Property And Equipment
TransferOfLongTermDepositsToPropertyAndEquipment
824000
cbyl Conversion Of Warrant Amount Converted
ConversionOfWarrantAmountConverted
347000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
39556000
cbyl Noncash Derivative Liability Related To Convertible Promissory Notes At Issuance
NoncashDerivativeLiabilityRelatedToConvertiblePromissoryNotesAtIssuance
1196000
cbyl Noncash Or Part Noncash Beneficial Conversion Feature Of Convertible Promissory Notes
NoncashOrPartNoncashBeneficialConversionFeatureOfConvertiblePromissoryNotes
519000
us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Embedded Derivatives Related to Convertible Promissory Notes</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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>
CY2016Q2 us-gaap Severance Costs1
SeveranceCosts1
300000
CY2016Q2 us-gaap Severance Costs1
SeveranceCosts1
700000
CY2016Q2 cbyl Payment Of Termination Fees
PaymentOfTerminationFees
2450000
CY2016Q3 cbyl Number Of Consecutive Business Period
NumberOfConsecutiveBusinessPeriod
P30D
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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 impairment of long-lived assets, restructuring, lease termination charges, 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>
us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.25
CY2015Q2 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
105000000
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2015Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2016Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2016Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2016Q3 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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&#8217;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>
dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
Delaware
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2004-03-26
us-gaap Restructuring And Related Activities Initiation Date
RestructuringAndRelatedActivitiesInitiationDate
2016-04-15
CY2016Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
14
CY2016Q2 cbyl Number Of Employees
NumberOfEmployees
17
CY2016Q3 cbyl Common Stock Minimum Bid Price
CommonStockMinimumBidPrice
1.00
CY2016Q3 cbyl Initial Period Allowed To Regain Compliance With Listing Qualifications
InitialPeriodAllowedToRegainComplianceWithListingQualifications
P180D
CY2016Q3 cbyl Minimum Bid Price Per Share Required To Regain Compliance With Listing Qualifications
MinimumBidPricePerShareRequiredToRegainComplianceWithListingQualifications
1.00
cbyl Regain Compliance With Listing Qualifications Period End Date
RegainComplianceWithListingQualificationsPeriodEndDate
2017-01-24
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 share and per share amounts contained in these financial statements and notes thereto, have been adjusted retroactively to reflect the reverse stock split.
CY2016Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
0
CY2016Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
34107000
CY2015Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
53675000
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1433000
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
628000
CY2016Q3 cbyl Accrued Legal Expenses
AccruedLegalExpenses
486000
CY2015Q4 cbyl Accrued Legal Expenses
AccruedLegalExpenses
77000
CY2016Q3 cbyl Accrued Research And Clinical Trial Expenses
AccruedResearchAndClinicalTrialExpenses
21000
CY2015Q4 cbyl Accrued Research And Clinical Trial Expenses
AccruedResearchAndClinicalTrialExpenses
338000
CY2016Q3 cbyl Accrued Professional Fees Excluding Legal Fees Current
AccruedProfessionalFeesExcludingLegalFeesCurrent
555000
CY2015Q4 cbyl Accrued Professional Fees Excluding Legal Fees Current
AccruedProfessionalFeesExcludingLegalFeesCurrent
185000
CY2016Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4000
cbyl Operating Leases Income Statement Monthly Sublease Revenue
OperatingLeasesIncomeStatementMonthlySubleaseRevenue
16000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
0
CY2016Q3 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
0
CY2015Q3 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
110000
us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
507000
us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
328000
CY2016Q3 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
0
CY2015Q3 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
50000
us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
37000
us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
147000
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.
us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
282000
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
289000
CY2016Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00
CY2016Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
800000
CY2016Q3 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
0
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2016Q3 us-gaap Litigation Reserve Current
LitigationReserveCurrent
300000

Files In Submission

Name View Source Status
0001564590-16-028340-index-headers.html Edgar Link pending
0001564590-16-028340-index.html Edgar Link pending
0001564590-16-028340.txt Edgar Link pending
0001564590-16-028340-xbrl.zip Edgar Link pending
cbyl-10q_20160930.htm Edgar Link pending
cbyl-20160930.xml Edgar Link completed
cbyl-20160930.xsd Edgar Link pending
cbyl-20160930_cal.xml Edgar Link unprocessable
cbyl-20160930_def.xml Edgar Link unprocessable
cbyl-20160930_lab.xml Edgar Link unprocessable
cbyl-20160930_pre.xml Edgar Link unprocessable
cbyl-ex311_8.htm Edgar Link pending
cbyl-ex312_6.htm Edgar Link pending
cbyl-ex321_7.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
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
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