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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
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3 Months Ended | |
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Mar. 31, 2015
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Mar. 31, 2014
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| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $ (5,497,669)us-gaap_NetIncomeLoss | $ (16,713,291)us-gaap_NetIncomeLoss |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 1,026,924us-gaap_ShareBasedCompensation | 1,415,244us-gaap_ShareBasedCompensation |
| Warrants issued in connection with backstop agreement | 1,583,252CRMD_WarrantsIssuedInConnectionWithBackstopAgreement | 0CRMD_WarrantsIssuedInConnectionWithBackstopAgreement |
| Loss on foreign currency transactions | 429us-gaap_ForeignCurrencyTransactionLossBeforeTax | 7,638us-gaap_ForeignCurrencyTransactionLossBeforeTax |
| Loss on issuance of preferred stock, convertible notes and warrants | 0CRMD_LossOnIssuanceOfWarrantsAndPreferredStock | 89,590CRMD_LossOnIssuanceOfWarrantsAndPreferredStock |
| Revaluation of derivative liability | 0us-gaap_FairValueOptionChangesInFairValueGainLoss1 | 13,681,569us-gaap_FairValueOptionChangesInFairValueGainLoss1 |
| Depreciation | 3,158us-gaap_Depreciation | 2,446us-gaap_Depreciation |
| Changes in operating assets and liabilities: | ||
| Restricted cash | (131,994)us-gaap_IncreaseDecreaseInRestrictedCash | (76)us-gaap_IncreaseDecreaseInRestrictedCash |
| Trade receivables | 2,304us-gaap_IncreaseDecreaseInAccountsReceivable | (11,813)us-gaap_IncreaseDecreaseInAccountsReceivable |
| Inventory | 1,624us-gaap_IncreaseDecreaseInInventories | 16,288us-gaap_IncreaseDecreaseInInventories |
| Prepaid expenses and other current assets | (76,146)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | 10,456us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
| Accounts payable | 546,379us-gaap_IncreaseDecreaseInAccountsPayable | 117,511us-gaap_IncreaseDecreaseInAccountsPayable |
| Accrued expenses and accrued interest | 197,150CRMD_IncreaseDecreaseAccruedExpensesAndAccruedInterest | (44,156)CRMD_IncreaseDecreaseAccruedExpensesAndAccruedInterest |
| Deferred revenue | (3,708)us-gaap_IncreaseDecreaseInDeferredRevenue | (695)us-gaap_IncreaseDecreaseInDeferredRevenue |
| Net cash used in operating activities | (2,348,297)us-gaap_NetCashProvidedByUsedInOperatingActivities | (1,429,289)us-gaap_NetCashProvidedByUsedInOperatingActivities |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of equipment | (12,944)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | 0us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Net cash used in investing activities | (12,944)us-gaap_NetCashProvidedByUsedInInvestingActivities | 0us-gaap_NetCashProvidedByUsedInInvestingActivities |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from Series C-3 preferred stock, net | 0CRMD_ProceedsFromSeriesC3PreferredStockNet | 743,884CRMD_ProceedsFromSeriesC3PreferredStockNet |
| Proceeds from Series C-3 preferred stock, related party | 0CRMD_ProceedsFromSeriesC3PreferredStockRelatedParty | 575,000CRMD_ProceedsFromSeriesC3PreferredStockRelatedParty |
| Proceeds from exercise of warrants | 6,702,168us-gaap_ProceedsFromWarrantExercises | 0us-gaap_ProceedsFromWarrantExercises |
| Proceeds from exercise of stock options | 125,500us-gaap_ProceedsFromStockOptionsExercised | 213,650us-gaap_ProceedsFromStockOptionsExercised |
| Payments for deferred financing costs | 0us-gaap_PaymentsOfFinancingCosts | (2,366)us-gaap_PaymentsOfFinancingCosts |
| Proceeds from sale of equity securities | 0us-gaap_ProceedsFromIssuanceInitialPublicOffering | 6,723,248us-gaap_ProceedsFromIssuanceInitialPublicOffering |
| Net cash provided by financing activities | 6,827,668us-gaap_NetCashProvidedByUsedInFinancingActivities | 8,253,416us-gaap_NetCashProvidedByUsedInFinancingActivities |
| Foreign exchange effect on cash | (6,639)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents | (8,622)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents |
| NET INCREASE IN CASH | 4,459,788us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 6,815,505us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| CASH - BEGINNING OF PERIOD | 4,339,540us-gaap_CashAndCashEquivalentsAtCarryingValue | 2,373,893us-gaap_CashAndCashEquivalentsAtCarryingValue |
| CASH - END OF PERIOD | 8,799,328us-gaap_CashAndCashEquivalentsAtCarryingValue | 9,189,398us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash paid for interest | 859us-gaap_InterestPaid | 465us-gaap_InterestPaid |
| Supplemental Disclosure of Non-Cash Financing Activities: | ||
| Conversion of preferred stock to common stock | 500CRMD_ConversionOfPreferredStockToCommonStock | 2,447,384CRMD_ConversionOfPreferredStockToCommonStock |
| Conversion of accounts payable and accrued expenses to preferred stock | 0CRMD_ConversionAccountsPayableAccruedExpensesPreferredStock | 645,458CRMD_ConversionAccountsPayableAccruedExpensesPreferredStock |
| Reclassification of derivative liability to equity | 0CRMD_ReclassificationOfDerivativeLiabilityToEquity | 6,235,398CRMD_ReclassificationOfDerivativeLiabilityToEquity |
| Conversion of wages and fees to common stock | 18,750CRMD_ConversionOfWagesAndFeesToCommonStock | 0CRMD_ConversionOfWagesAndFeesToCommonStock |
| Dividend, including beneficial conversion feature | $ 33,121CRMD_DeemedDividendConvertibleBeneficialConversionFeature | $ 27,150CRMD_DeemedDividendConvertibleBeneficialConversionFeature |
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Deemed Dividend Convertible Beneficial Conversion Feature No definition available.
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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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For each line item in the statement of financial position, the amounts of gains and losses from fair value changes included in earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount before tax of foreign currency transaction realized and unrealized loss recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow associated with the amount received from holders exercising their stock warrants. No definition available.
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The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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