2015 Q4 Form 10-Q Financial Statement
#000162828015008745 Filed on November 13, 2015
Income Statement
Concept | 2015 Q4 | 2015 Q3 | 2014 Q4 |
---|---|---|---|
Revenue | $15.42M | $11.31M | $14.71M |
YoY Change | 4.86% | 17.09% | 146960.0% |
Cost Of Revenue | $7.230M | $6.772M | $6.650M |
YoY Change | 8.72% | 22.42% | |
Gross Profit | $8.191M | $4.537M | $7.954M |
YoY Change | 2.98% | 9.96% | 79440.0% |
Gross Profit Margin | 53.12% | 40.12% | 54.09% |
Selling, General & Admin | $5.740M | $5.674M | $4.010M |
YoY Change | 43.14% | 31.56% | 147.53% |
% of Gross Profit | 70.08% | 125.06% | 50.41% |
Research & Development | $7.400M | $3.740M | $5.790M |
YoY Change | 27.81% | -52.27% | 74.4% |
% of Gross Profit | 90.34% | 82.43% | 72.79% |
Depreciation & Amortization | $410.0K | $400.0K | $250.0K |
YoY Change | 64.0% | 100.0% | 150.0% |
% of Gross Profit | 5.01% | 8.82% | 3.14% |
Operating Expenses | $13.15M | $9.414M | $9.800M |
YoY Change | 34.18% | -22.51% | 98.78% |
Operating Profit | -$4.957M | -$4.877M | -$2.345M |
YoY Change | 111.39% | -39.2% | -52.34% |
Interest Expense | $0.00 | $2.000K | $140.0K |
YoY Change | -100.0% | 100.0% | -93.03% |
% of Operating Profit | |||
Other Income/Expense, Net | $50.00K | $461.0K | -$160.0K |
YoY Change | -131.25% | -58.28% | |
Pretax Income | -$4.910M | -$4.420M | -$2.370M |
YoY Change | 107.17% | -36.13% | -18.84% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$4.910M | -$4.416M | -$2.370M |
YoY Change | 107.17% | -36.16% | -18.84% |
Net Earnings / Revenue | -31.84% | -39.05% | -16.12% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$207.3K | -$185.8K | -$99.33K |
COMMON SHARES | |||
Basic Shares Outstanding | 23.79M shares | 23.79M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2015 Q4 | 2015 Q3 | 2014 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $14.60M | $18.70M | $30.30M |
YoY Change | -51.82% | -50.27% | 274.07% |
Cash & Equivalents | $14.60M | $18.70M | $30.30M |
Short-Term Investments | |||
Other Short-Term Assets | $464.0K | $514.0K | $1.036M |
YoY Change | -55.21% | -65.73% | 153.3% |
Inventory | $1.379M | $1.639M | $1.920M |
Prepaid Expenses | |||
Receivables | $10.92M | $7.639M | $8.191M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $27.34M | $28.52M | $41.49M |
YoY Change | -34.1% | -36.21% | 389.5% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $4.049M | $4.315M | $2.892M |
YoY Change | 40.01% | 79.79% | 291.34% |
Goodwill | |||
YoY Change | |||
Intangibles | $2.917M | $2.987M | $3.197M |
YoY Change | -8.76% | ||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $6.966M | $7.302M | $6.089M |
YoY Change | 14.4% | 28.11% | 723.95% |
TOTAL ASSETS | |||
Total Short-Term Assets | $27.34M | $28.52M | $41.49M |
Total Long-Term Assets | $6.966M | $7.302M | $6.089M |
Total Assets | $34.31M | $35.82M | $47.58M |
YoY Change | -27.89% | -28.93% | 416.32% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $7.588M | $4.995M | $5.824M |
YoY Change | 30.29% | 99.8% | 147.3% |
Accrued Expenses | $3.603M | $85.00K | $4.714M |
YoY Change | -23.57% | -97.26% | 1503.4% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $12.11M | $9.261M | $11.83M |
YoY Change | 2.36% | -25.91% | 122.31% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $71.00K | $81.00K | $109.0K |
YoY Change | -34.86% | -19.0% | |
Other Long-Term Liabilities | $66.00K | $0.00 | |
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $147.0K | $109.0K |
YoY Change | -100.0% | 47.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $12.11M | $9.261M | $11.83M |
Total Long-Term Liabilities | $0.00 | $147.0K | $109.0K |
Total Liabilities | $12.18M | $9.408M | $11.94M |
YoY Change | 2.02% | -25.33% | 124.36% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$324.0M | ||
YoY Change | |||
Common Stock | $307.8M | $307.2M | $305.0M |
YoY Change | 0.9% | 20.43% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $3.150M | $0.00 | |
YoY Change | |||
Treasury Stock Shares | 1.250M shares | 1.250M shares | |
Shareholders Equity | $22.13M | $26.41M | $35.64M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $34.31M | $35.82M | $47.58M |
YoY Change | -27.89% | -28.93% | 416.32% |
Cashflow Statement
Concept | 2015 Q4 | 2015 Q3 | 2014 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$4.910M | -$4.416M | -$2.370M |
YoY Change | 107.17% | -36.16% | -18.84% |
Depreciation, Depletion And Amortization | $410.0K | $400.0K | $250.0K |
YoY Change | 64.0% | 100.0% | 150.0% |
Cash From Operating Activities | -$4.040M | -$720.0K | -$6.240M |
YoY Change | -35.26% | -91.46% | 43.78% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$100.0K | -$770.0K | -$750.0K |
YoY Change | -86.67% | 1000.0% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | $100.0K |
YoY Change | -100.0% | -100.0% | |
Cash From Investing Activities | -$90.00K | -$780.0K | -$650.0K |
YoY Change | -86.15% | -69.65% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | -10.00K | -300.0K |
YoY Change | -100.0% | -100.02% | -118.99% |
NET CHANGE | |||
Cash From Operating Activities | -4.040M | -720.0K | -6.240M |
Cash From Investing Activities | -90.00K | -780.0K | -650.0K |
Cash From Financing Activities | 0.000 | -10.00K | -300.0K |
Net Change In Cash | -4.130M | -1.510M | -7.190M |
YoY Change | -42.56% | -104.98% | 160.51% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$4.040M | -$720.0K | -$6.240M |
Capital Expenditures | -$100.0K | -$770.0K | -$750.0K |
Free Cash Flow | -$3.940M | $50.00K | -$5.490M |
YoY Change | -28.23% | -100.6% | 26.5% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
0 | USD | |
us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
3930000 | USD | |
us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-552000 | USD | |
us-gaap |
Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
|
1004000 | USD | |
us-gaap |
Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
|
0 | USD | |
CY2014Q3 | astm |
Amortizationof Intangible Assets Minimum Materiality Thresholdfor Amortization Expense
AmortizationofIntangibleAssetsMinimumMaterialityThresholdforAmortizationExpense
|
100000 | USD |
astm |
Amortizationof Intangible Assets Minimum Materiality Thresholdfor Amortization Expense
AmortizationofIntangibleAssetsMinimumMaterialityThresholdforAmortizationExpense
|
100000 | USD | |
CY2015Q3 | astm |
Common Stock Remaining Capacity
CommonStockRemainingCapacity
|
7800000 | USD |
CY2011Q3 | astm |
Common Stock Value Registeredon Form S3
CommonStockValueRegisteredonFormS3
|
100000000 | USD |
CY2012Q1 | astm |
Convertible Preferred Stock Conversion Period
ConvertiblePreferredStockConversionPeriod
|
P5Y | |
astm |
Foreign Currency Translation Gain
ForeignCurrencyTranslationGain
|
-154000 | USD | |
astm |
Foreign Currency Translation Gain
ForeignCurrencyTranslationGain
|
5000 | USD | |
CY2015Q3 | astm |
Operating And Capital Leases Future Minimum Payments Due
OperatingAndCapitalLeasesFutureMinimumPaymentsDue
|
7045000 | USD |
CY2015Q3 | astm |
Operating And Capital Leases Future Minimum Payments Due Current
OperatingAndCapitalLeasesFutureMinimumPaymentsDueCurrent
|
1017000 | USD |
CY2015Q3 | astm |
Operating And Capital Leases Future Minimum Payments Due In Four Years
OperatingAndCapitalLeasesFutureMinimumPaymentsDueInFourYears
|
379000 | USD |
CY2015Q3 | astm |
Operating And Capital Leases Future Minimum Payments Due In Three Years
OperatingAndCapitalLeasesFutureMinimumPaymentsDueInThreeYears
|
1493000 | USD |
CY2015Q3 | astm |
Operating And Capital Leases Future Minimum Payments Due In Two Years
OperatingAndCapitalLeasesFutureMinimumPaymentsDueInTwoYears
|
4156000 | USD |
CY2015Q3 | astm |
Operating And Capital Leases Future Minimum Payments Due Thereafter
OperatingAndCapitalLeasesFutureMinimumPaymentsDueThereafter
|
0 | USD |
astm |
Purchase Obligation Automatic Renewal Term
PurchaseObligationAutomaticRenewalTerm
|
P5Y | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2015 | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2015-09-30 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
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Entity Central Index Key
EntityCentralIndexKey
|
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CY2015Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
23789219 | shares |
dei |
Entity Filer Category
EntityFilerCategory
|
Smaller Reporting Company | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
Vericel Corp | ||
CY2014Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
4714000 | USD |
CY2015Q3 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
3311000 | USD |
CY2014Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
5824000 | USD |
CY2015Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
4995000 | USD |
CY2014Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
8191000 | USD |
CY2015Q3 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
7639000 | USD |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
339000 | USD | |
us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
855000 | USD | |
astm |
Purchase Obligation Renewal Option Term
PurchaseObligationRenewalOptionTerm
|
P5Y | ||
us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-521000 | USD | |
us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
0 | USD | |
us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
43000 | USD | |
CY2014Q4 | us-gaap |
Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
|
2044000 | USD |
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Accrued Bonuses Current And Noncurrent
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|
1483000 | USD |
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Accrued Liabilities Current
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|
605000 | USD |
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Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
85000 | USD |
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Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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|
4397000 | USD |
CY2015Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
5298000 | USD |
CY2014Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-71000 | USD |
CY2015Q3 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-71000 | USD |
CY2014Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
40000 | USD |
CY2015Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
54000 | USD |
CY2015Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
100000 | USD |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
200000 | USD | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
2300000 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4200000 | shares | |
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Asset Retirement Obligation Current
AssetRetirementObligationCurrent
|
348000 | USD |
CY2015Q3 | us-gaap |
Asset Retirement Obligation Current
AssetRetirementObligationCurrent
|
53000 | USD |
us-gaap |
Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
|
0 | USD | |
us-gaap |
Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
|
-267000 | USD | |
CY2014Q4 | us-gaap |
Assets
Assets
|
47579000 | USD |
CY2015Q3 | us-gaap |
Assets
Assets
|
35818000 | USD |
CY2014Q4 | us-gaap |
Assets Current
AssetsCurrent
|
41490000 | USD |
CY2015Q3 | us-gaap |
Assets Current
AssetsCurrent
|
28516000 | USD |
CY2014Q3 | us-gaap |
Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
|
0 | USD |
us-gaap |
Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
|
3634000 | USD | |
CY2015Q3 | us-gaap |
Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
|
0 | USD |
us-gaap |
Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
|
0 | USD | |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
0 | USD | |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
65000 | USD | |
us-gaap |
Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
|
153000 | USD | |
us-gaap |
Capital Lease Obligations Incurred
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|
0 | USD | |
CY2015Q3 | us-gaap |
Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
|
129000 | USD |
CY2015Q3 | us-gaap |
Capital Leases Future Minimum Payments Due In Four Years
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|
32000 | USD |
CY2015Q3 | us-gaap |
Capital Leases Future Minimum Payments Due In Three Years
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|
43000 | USD |
CY2015Q3 | us-gaap |
Capital Leases Future Minimum Payments Due In Two Years
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|
43000 | USD |
CY2015Q3 | us-gaap |
Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
|
0 | USD |
CY2015Q3 | us-gaap |
Capital Leases Future Minimum Payments Remainder Of Fiscal Year
CapitalLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
11000 | USD |
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Cash
Cash
|
8059000 | USD |
CY2014Q3 | us-gaap |
Cash
Cash
|
37578000 | USD |
CY2014Q4 | us-gaap |
Cash
Cash
|
30343000 | USD |
CY2015Q3 | us-gaap |
Cash
Cash
|
18724000 | USD |
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Commitments And Contingencies
CommitmentsAndContingencies
|
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Commitments And Contingencies
CommitmentsAndContingencies
|
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Common Stock No Par Value
CommonStockNoParValue
|
0 | |
CY2015Q3 | us-gaap |
Common Stock No Par Value
CommonStockNoParValue
|
0 | |
CY2014Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
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Common Stock Shares Authorized
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|
75000000 | shares |
CY2014Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
23789000 | shares |
CY2015Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
23789000 | shares |
CY2014Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
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CY2015Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
23786000 | shares |
CY2014Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
305008000 | USD |
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Common Stock Value
CommonStockValue
|
307207000 | USD |
CY2014Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-6992000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-17620000 | USD | |
CY2015Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-4416000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-11430000 | USD | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
3158000 | USD | |
CY2014Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
5532000 | USD |
us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
10541000 | USD | |
CY2015Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
6772000 | USD |
us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
19241000 | USD | |
CY2014Q3 | us-gaap |
Depreciation
Depreciation
|
200000 | USD |
us-gaap |
Depreciation
Depreciation
|
400000 | USD | |
CY2015Q3 | us-gaap |
Depreciation
Depreciation
|
400000 | USD |
us-gaap |
Depreciation
Depreciation
|
1000000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
496000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1182000 | USD | |
CY2014Q4 | us-gaap |
Development Stage Enterprise Deficit Accumulated During Development Stage
DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage
|
307685000 | USD |
CY2015Q3 | us-gaap |
Development Stage Enterprise Deficit Accumulated During Development Stage
DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage
|
319115000 | USD |
CY2014Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.82 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-2.90 | ||
CY2015Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.26 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.69 | ||
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-13000 | USD | |
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
0 | USD | |
CY2014Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1281000 | USD |
CY2015Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1340000 | USD |
CY2014Q3 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-949000 | USD |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
155000 | USD | |
CY2015Q3 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-461000 | USD |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-256000 | USD | |
CY2014Q4 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
20000 | USD |
CY2015Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
1797000 | USD |
CY2015Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
70000 | USD |
CY2015Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
280000 | USD |
CY2015Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
280000 | USD |
CY2015Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
280000 | USD |
CY2015Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
280000 | USD |
CY2015Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2987000 | USD |
CY2014Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
|
154000 | USD |
us-gaap |
Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
|
154000 | USD | |
CY2015Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
|
-5000 | USD |
us-gaap |
Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
|
5000 | USD | |
us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
0 | USD | |
us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
35000 | USD | |
CY2014Q3 | us-gaap |
Gross Profit
GrossProfit
|
4126000 | USD |
us-gaap |
Gross Profit
GrossProfit
|
3549000 | USD | |
CY2015Q3 | us-gaap |
Gross Profit
GrossProfit
|
4537000 | USD |
us-gaap |
Gross Profit
GrossProfit
|
16507000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-69000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-899000 | USD | |
us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
1071000 | USD | |
us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-1109000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-434000 | USD | |
us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
11000 | USD | |
CY2014Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
3197000 | USD |
CY2015Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
2987000 | USD |
CY2014Q3 | us-gaap |
Interest Expense
InterestExpense
|
1000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
4000 | USD | |
CY2015Q3 | us-gaap |
Interest Expense
InterestExpense
|
2000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
6000 | USD | |
CY2014Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
384000 | USD |
CY2015Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
164000 | USD |
CY2014Q4 | us-gaap |
Inventory Net
InventoryNet
|
1920000 | USD |
CY2015Q3 | us-gaap |
Inventory Net
InventoryNet
|
1639000 | USD |
CY2014Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
1078000 | USD |
CY2015Q3 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
1273000 | USD |
CY2014Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
458000 | USD |
CY2015Q3 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
202000 | USD |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
55000 | USD | |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
621000 | USD | |
CY2014Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
3000 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
9000 | USD | |
CY2015Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
7000 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
29000 | USD | |
CY2014Q4 | us-gaap |
Liabilities
Liabilities
|
11938000 | USD |
CY2015Q3 | us-gaap |
Liabilities
Liabilities
|
9408000 | USD |
CY2014Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
47579000 | USD |
CY2015Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
35818000 | USD |
CY2014Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
11829000 | USD |
CY2015Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
9261000 | USD |
CY2014Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
109000 | USD |
CY2015Q3 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
81000 | USD |
us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
29519000 | USD | |
us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
-11619000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
50230000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-15000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-1532000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-2295000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-19166000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-9309000 | USD | |
CY2014Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6917000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-17550000 | USD | |
CY2015Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4416000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-11430000 | USD | |
CY2014Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-8451000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-21976000 | USD | |
CY2015Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-6137000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-16395000 | USD | |
CY2014Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1105000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
3638000 | USD | |
CY2015Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
461000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
284000 | USD | |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | segment | |
CY2014Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
12148000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
24737000 | USD | |
CY2015Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
9414000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
28221000 | USD | |
CY2014Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-8022000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-21188000 | USD | |
CY2015Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4877000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-11714000 | USD | |
CY2015Q3 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
6916000 | USD |
CY2015Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
347000 | USD |
CY2015Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
1450000 | USD |
CY2015Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
4113000 | USD |
CY2015Q3 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
0 | USD |
CY2015Q3 | us-gaap |
Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
1006000 | USD |
CY2014Q3 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
1400000 | USD |
us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
2200000 | USD | |
CY2015Q3 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
1300000 | USD |
us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
3800000 | USD | |
CY2014Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
436000 | USD |
CY2015Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
350000 | USD |
CY2014Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
1036000 | USD |
CY2015Q3 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
514000 | USD |
CY2014Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-75000 | USD |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-70000 | USD | |
CY2015Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
0 | USD |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
0 | USD | |
CY2014Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
210000 | USD |
CY2015Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
130000 | USD |
CY2014Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
0 | USD |
CY2015Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
66000 | USD |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
0 | USD | |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-35000 | USD | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
1450000 | USD | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
0 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
82000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2330000 | USD | |
CY2014Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
1534000 | USD |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
4426000 | USD | |
CY2015Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
1721000 | USD |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
4965000 | USD | |
CY2014Q4 | us-gaap |
Preferred Stock Value Outstanding
PreferredStockValueOutstanding
|
38389000 | USD |
CY2015Q3 | us-gaap |
Preferred Stock Value Outstanding
PreferredStockValueOutstanding
|
38389000 | USD |
us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
50236000 | USD | |
CY2014Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
7289000 | USD |
CY2015Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
9613000 | USD |
CY2014Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2892000 | USD |
CY2015Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4315000 | USD |
CY2015Q3 | us-gaap |
Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
|
300000 | USD |
us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
6000 | USD | |
us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
26000 | USD | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
2500000 | USD | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
0 | USD | |
CY2014Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
7835000 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
15470000 | USD | |
CY2015Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3740000 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
11486000 | USD | |
CY2014Q2 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated Inception To Date
RestructuringAndRelatedCostNumberOfPositionsEliminatedInceptionToDate
|
80 | position |
CY2014Q2 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated Inception To Date Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedInceptionToDatePercent
|
0.30 | |
CY2015Q3 | us-gaap |
Restructuring Charges
RestructuringCharges
|
100000 | USD |
us-gaap |
Restructuring Charges
RestructuringCharges
|
3100000 | USD | |
CY2015Q3 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
0 | USD |
CY2014Q3 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
9658000 | USD |
us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
14090000 | USD | |
CY2015Q3 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
11309000 | USD |
us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
35748000 | USD | |
CY2014Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
9658000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
14090000 | USD | |
CY2015Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
11309000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
35748000 | USD | |
CY2014Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
4313000 | USD |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
9267000 | USD | |
CY2015Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
5674000 | USD |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
16735000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
653000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2188000 | USD | |
us-gaap |
Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
|
965000 | USD | |
us-gaap |
Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
|
0 | USD | |
CY2014Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
35641000 | USD |
CY2015Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
26410000 | USD |
CY2014Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
1081000 | USD |
CY2015Q3 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
825000 | USD |
CY2014Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
10273000 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
7569000 | shares | |
CY2015Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
23788000 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
23786000 | shares | |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The condensed consolidated financial statements included herein have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC).  The preparation of condensed consolidated financial statements in conformity with generally accepted accounting principles in the United States of America (U.S. GAAP) requires management to make estimates, judgments, and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. The financial statements reflect, in the opinion of management, all adjustments (consisting only of normal, recurring adjustments) necessary to state fairly the financial position and results of operations as of and for the periods indicated.  The results of operations for the </font><font style="font-family:inherit;font-size:10pt;">three and nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September 30, 2015</font><font style="font-family:inherit;font-size:10pt;">, are not necessarily indicative of the results to be expected for the full year or for any other period.  The </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;"> condensed consolidated balance sheet data was derived from the Company’s audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">, as filed with the SEC on March 25, 2015 (Annual Report).</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The condensed consolidated financial statements include the accounts of Vericel and its wholly-owned subsidiaries, Marrow Donation, LLC, located in San Diego, California, and Vericel Denmark ApS, in Kastrup, Demark (collectively, the Company).  All inter-company transactions and accounts have been eliminated in consolidation.  Aastrom Biosciences GmbH ceased operations in 2014.</font></div></div> | ||
us-gaap |
Nature Of Operations
NatureOfOperations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vericel Corporation a Michigan corporation, which was formerly known as Aastrom Biosciences, Inc. (the Company, Vericel, we, us or our), was incorporated in March 1989 and began employee-based operations in 1991. On May 30, 2014, Vericel completed the acquisition of certain assets and assumed certain liabilities of Sanofi, a French société anonyme (Sanofi), including all of the outstanding equity interests of Genzyme Biosurgery ApS (Genzyme Denmark or the Danish subsidiary) (now known as Vericel Denmark ApS), a wholly-owned subsidiary of Sanofi, and over </font><font style="font-family:inherit;font-size:10pt;">250</font><font style="font-family:inherit;font-size:10pt;"> patents and patent applications of Sanofi and certain of its subsidiaries for purposes of acquiring the portion of the cell therapy and regenerative medicine business (the CTRM Business), which researches, develops, manufactures, markets and sells the Carticel</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></font><font style="font-family:inherit;font-size:10pt;">, MACI™, and Epicel</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></font><font style="font-family:inherit;font-size:10pt;"> products. The Company is a fully integrated, commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of innovative therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. Vericel has marketed products as well as developmental stage product candidates and the Company’s goal is to become the leader in cell therapy and regenerative medicine by developing, manufacturing and marketing best-in-class therapies for patients with significant unmet medical needs.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company operates its business primarily in the U.S. in </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> reportable segment — the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Successful future operations are subject to several technical hurdles and risk factors, including satisfactory product development, timely initiation and completion of clinical trials, regulatory approval and market acceptance of the Company’s products.</font></div></div> |