Corium International Inactive 10-Q14 May 142014 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
Document and Entity Information	Mar. 31, 2014	7-May-14
Document and Entity Information	'	'
Entity Registrant Name	'Corium International, Inc.	'
Entity Central Index Key	'0001594337	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--09-30	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	17,617,615
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

CONDENSED_BALANCE_SHEETS

CONDENSED BALANCE SHEETS (USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Sep. 30, 2013
Current assets:	'	'
Cash and cash equivalents	$5,333	$13,581
Accounts receivable, net	4,257	3,129
Unbilled accounts receivable	2,343	1,495
Inventories, net	3,040	4,508
Prepaid expenses and other current assets	2,415	1,038
Total current assets	17,388	23,751
Property and equipment, net	12,104	12,622
Debt financing costs, net	731	902
Intangible assets, net	6,694	6,647
Notes receivable - related parties	'	100
TOTAL ASSETS	36,917	44,022
Current liabilities:	'	'
Accounts payable	1,791	2,748
Accrued expenses and other current liabilities	4,072	3,374
Bank lines of credit	2,658	3,873
Long-term debt, current portion	38	457
Capital lease obligations, current portion	895	1,029
Preferred stock warrant liability	834	560
Recall liability, current portion	774	1,004
Deferred contract revenues, current portion	2,324	2,112
Total current liabilities	13,386	15,157
Long-term interest payable	12,413	11,590
Long-term debt, net of current portion	37,584	36,956
Convertible notes	9,475	9,399
Subordinated note	16,199	13,000
Subordinated note embedded derivative liability	'	7,367
Capital lease obligations, net of current portion	1,274	1,652
Recall liability, net of current portion	3,431	3,828
Deferred contract revenues, net of current portion	3,562	3,688
Total liabilities	97,324	102,637
Stockholders' deficit:	'	'
Common stock	2	2
Additional paid-in capital	-29,907	-26,679
Accumulated deficit	-90,987	-92,423
Total stockholders' deficit	-120,892	-119,100
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK, REDEEMABLE COMMON STOCK AND STOCKHOLDERS' DEFICIT	36,917	44,022
Convertible Preferred Stock	'	'
Current liabilities:	'	'
Convertible or Redeemable stock	57,261	57,261
Redeemable Common Stock	'	'
Current liabilities:	'	'
Convertible or Redeemable stock	$3,224	$3,224

CONDENSED_STATEMENTS_OF_OPERAT

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(LOSS) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Revenues:	'	'	'	'
Product revenues	$7,240	$10,218	$15,340	$20,190
Contract research and development revenues	3,173	2,174	5,237	4,762
Other revenues	304	144	608	208
Total revenues	10,717	12,536	21,185	25,160
Costs and operating expenses:	'	'	'	'
Cost of product revenues	4,998	6,583	10,227	12,816
Cost of contract research and development revenues	3,911	2,820	7,448	5,942
Research and development expenses	1,267	1,520	2,128	2,572
General and administrative expenses	1,236	1,606	3,046	3,398
Amortization of intangible assets	131	133	261	264
Gain on disposal and sale and leaseback of equipment	-32	-48	-69	-91
Total costs and operating expenses	11,511	12,614	23,041	24,901
Income (loss) from operations	-794	-78	-1,856	259
Interest income	1	2	3	5
Interest expense	-1,780	-1,923	-3,804	-3,696
Change in fair value of preferred stock warrant liability	-231	'	-274	'
Change in fair value of subordinated note embedded derivative liability	6,338	'	7,367	'
Income (loss) before income taxes	3,534	-1,999	1,436	-3,432
Net Income (loss) and comprehensive income (loss)	$3,534	($1,999)	$1,436	($3,432)
Net Income (loss) per share attributable to common stockholders, basic (in dollars per share)	$0.50	($0.90)	$0.03	($1.55)
Net Income (loss) per share attributable to common stockholders, diluted (in dollars per share)	$0.33	($0.90)	$0.02	($1.55)
Weighted average shares used in computing net income (loss) per share attributable to common stockholders, basic (in shares)	2,232,300	2,225,742	2,231,049	2,218,801
Weighted average shares used in computing net income (loss) per share attributable to common stockholders, diluted (in shares)	5,930,309	2,225,742	3,482,956	2,218,801

CONDENSED_STATEMENTS_OF_CONVER

CONDENSED STATEMENTS OF CONVERTIBLE PREFERRED STOCK, REDEEMABLE COMMON STOCK AND STOCKHOLDERS' DEFICIT (USD $)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Convertible Preferred Stock	Redeemable Common Stock
In Thousands, except Share data, unless otherwise specified	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Convertible Preferred Stock	Redeemable Common Stock
Balance at Sep. 30, 2013	($119,100)	$2	($26,679)	($92,423)	'	'
Balance at Sep. 30, 2013	'	'	'	'	57,261	3,224
Balance (in shares) at Sep. 30, 2013	'	1,881,177	'	'	'	'
Balance (in shares) at Sep. 30, 2013	'	'	'	'	36,034,900	347,945
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'
Decrease in equity associated with modification of subordinated debt	-3,485	'	-3,485	'	'	'
Issuance of common stock upon exercise of stock options	7	'	7	'	'	'
Issuance of common stock upon exercise of stock options (in shares)	'	3,211	'	'	'	'
Stock-based compensation expense	250	'	250	'	'	'
Aggregate fractional shares cancelled in connection with reverse stock split	'	-26	'	'	'	'
Net income and comprehensive income	1,436	'	'	1,436	'	'
Balance at Mar. 31, 2014	-120,892	2	-29,907	-90,987	'	'
Balance at Mar. 31, 2014	'	'	'	'	$57,261	$3,224
Balance (in shares) at Mar. 31, 2014	'	1,884,362	'	'	'	'
Balance (in shares) at Mar. 31, 2014	'	'	'	'	36,034,900	347,945

CONDENSED_STATEMENTS_CASH_FLOW

CONDENSED STATEMENTS CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income (loss) and comprehensive income (loss)	$1,436	($3,432)
Adjustments to reconcile net income (loss) to net cash used in operating activities:	'	'
Depreciation and amortization of property and equipment	1,054	998
Gain on disposal and sale and leaseback of equipment	-69	-91
Amortization of premium on modification of subordinated note	-286	'
Change in fair value of preferred stock warrant liability	274	'
Change in fair value of subordinated debt embedded derivative liability	-7,367	'
Amortization of intangible assets	261	264
Noncash amortized debt issue costs on long-term debt	171	164
Noncash amortized debt discount	104	91
Stock compensation expense	250	213
Changes in operating assets and liabilities:	'	'
Accounts receivable, net	-1,128	-1,367
Unbilled accounts receivable	-848	-981
Inventories, net	1,469	-639
Prepaid expenses and other current assets	454	326
Accounts payable	144	-170
Accrued expenses and other liabilities	1,412	-137
Deferred contract revenues	86	886
Recall liability	-627	'
Long-term interest payable	823	822
Net cash used by operating activities	-2,387	-3,053
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchases of property and equipment	-1,648	-5,788
Proceeds from sale of equipment	12	2
Proceeds from repayment of notes receivable - related parties	100	'
Payments for patents and licensing rights	-308	-353
Net cash used by investing activities	-1,844	-6,139
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Proceeds from issuance of long-term debt	'	6,600
Payment of transaction costs associated with issuance of common stock and long-term debt	-1,832	-65
Principal payments on long-term debt	-452	-574
Principal payments on capital lease obligations	-525	-304
Borrowings on bank lines of credit	1,298	1,500
Payments on bank lines of credit	-2,513	-1,572
Proceeds from exercise of stock options	7	7
Net cash provided (used) by financing activities	-4,017	5,592
NET DECREASE IN CASH AND CASH EQUIVALENTS	-8,248	-3,600
CASH AND CASH EQUIVALENTS - Beginning of period	13,581	12,245
CASH AND CASH EQUIVALENTS - End of period	5,333	8,645
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:	'	'
Cash paid for interest	2,996	3,112
NON-CASH INVESTING AND FINANCING ACTIVITIES:	'	'
Issuance of common stock warrants in connection with debt financing and equipment lease financing	'	23
Property and equipment purchases included in accounts payable and accrued liabilities	38	265
Issuance of payment-in-kind notes in lieu of cash interest payments	647	589
Transaction costs associated with the initial public offering included in accrued liabilities	$1,161	'

Organization_Description_of_Bu

Organization, Description of Business, and Summary of Significant Accounting Policies	6 Months Ended
	Mar. 31, 2014
Organization, Description of Business, and Summary of Significant Accounting Policies	'
Organization, Description of Business, and Summary of Significant Accounting Policies	'
	1. Organization, Description of Business, and Summary of Significant Accounting Policies

	Organization

	Corium International, Inc., a Delaware corporation (the “Company”), is a commercial stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty pharmaceutical products that leverage its broad experience in transdermal and transmucosal delivery systems.

	In the normal course of business, the Company enters into collaborative agreements with partners to develop and manufacture products based on the Company’s drug delivery technologies. Revenues consist of net sales of products manufactured, royalties and profit-sharing payments based on sales of such products by partners, and product development fees for research and development activities under collaborative agreements with strategic partners. The Company is also engaged in the research and development of its own proprietary transdermal drug delivery products using its proprietary technologies.

	Basis of Presentation

	The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and following the requirements of the Securities and Exchange Commission (the “SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These financial statements have been prepared on the same basis as the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments that are necessary for a fair statement of the Company’s financial information. The results of operations for the three and six months ended March 31, 2014 are not necessarily indicative of the results to be expected for the year ending September 30, 2014 or for any future period. The balance sheet as of September 30, 2013 has been derived from the audited financial statements at that date but does not include all of the information required by U.S. GAAP for complete financial statements.

	The accompanying condensed financial statements and related financial information should be read in conjunction with the audited financial statements and the related notes thereto for the year ended September 30, 2013 included in the Company’s Prospectus filed pursuant to Rule 424(b)(4) on April 3, 2014 with the SEC (the “Prospectus”).

	There have been no material changes to the significant accounting policies previously disclosed in the Prospectus.

	Reverse Stock Split

	On March 20, 2014, the Company effected a 1-for-10.1 reverse stock split of the Company’s outstanding common stock resulting in a reduction of the Company’s total common stock issued and outstanding from 19,032,056 shares to 1,884,362 shares. The reverse stock split affected all stockholders of the Company’s common stock uniformly, and did not materially affect any stockholder’s percentage of ownership interest. The par value of the Company’s common stock remained unchanged at $0.001 per share and the number of authorized shares of common stock remained the same after the reverse stock split.

	As the par value per share of the Company’s common stock remained unchanged at $0.001 per share, a total of $17,148 was reclassified from common stock to additional paid-in capital. In connection with this reverse stock split, the number of shares of common stock reserved for issuance under the Company’s equity incentive, stock option and employee stock purchase plans (see Note 4) as well as the shares of common stock underlying outstanding stock options, restricted stock units and warrants were also proportionately reduced while the exercise prices of such stock options and warrants were proportionately increased. All references to shares of common stock and per share data for all periods presented in the accompanying financial statements and notes thereto have been adjusted to reflect the reverse stock split on a retroactive basis.

	Initial Public Offering

	On April 2, 2014, the Company’s registration statements on Form S-1 (File No. 333-195002 and File No. 333-195002) relating to the Initial Public Offering (the “IPO”) of its common stock were declared effective by the SEC. The IPO closed on April 8, 2014 at which time the Company sold 6,500,000 shares of its common stock at a price of $8.00 per share. Corium also granted the underwriters a 30-day option to purchase up to 975,000 additional shares of common stock at the IPO price. The underwriters exercised this option to purchase 374,997 shares on May 2, 2014. The Company received cash proceeds of $48.5 million from the IPO, including proceeds from the partial exercise of the underwriters’ option, net of underwriting discounts and commissions and estimated expenses paid by the Company.

	On April 8, 2014, immediately prior to the closing of the IPO, all outstanding shares of convertible preferred stock converted into 3,567,807 shares of common stock, and the related carrying value of $57.3 million was reclassified to common stock and additional paid-in capital. In addition, certain warrants to purchase convertible preferred stock and common stock were also converted and net exercised into 971,440 shares of common stock. Upon the consummation of the IPO, Corium also repurchased 1,077,809 shares of common stock for an aggregate purchase price of $5.2 million from its founders.

	Following the filing of the Restated Certificate of Incorporation of the Company on April 8, 2014, the number of shares of capital stock the Company is authorized to issue is 155,000,000 shares, of which 150,000,000 shares may be common stock and 5,000,000 shares may be preferred stock. Both the common stock and preferred stock have a par value of $0.001 per share.

	Use of Estimates

	Estimates and assumptions are required to be used by management in the preparation of financial statements in conformity with U.S. GAAP that affect the reported amounts of assets, liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of operating revenues and operating expenses during the reporting period. Those estimates and assumptions affect revenue recognition and deferred revenues, impairment of long-lived assets, determination of fair value of stock-based awards and other debt and equity related instruments, and accounting for income taxes. As future events and their effects cannot be determined with precision, actual results could differ from those estimates.

	Concentration of Credit Risk

	Four partners accounted for 92% and 94% of the Company’s revenues for the three and six months ended March 31, 2014, compared to 99% and 99% for the corresponding periods in 2013. These same partners accounted for 98% and 100% of accounts receivable as of March 31, 2014 and September 30, 2013.

	Revenue Recognition

	The Company generates revenues from agreements for the development and commercialization of its products. The terms of the agreements may include nonrefundable upfront payments, partial or complete reimbursement of research and development costs, milestone payments, product sales and royalties and profit sharing on product sales derived from partner agreements. The Company recognizes revenues when the following criteria are met: persuasive evidence of a sales arrangement exists; delivery has occurred; the price is fixed or determinable; and collectability is reasonably assured.

	Revenue related to multiple element arrangements are analyzed to determine whether the deliverables can be separated or whether they must be accounted for as a single unit of accounting. This determination is generally based on whether any deliverable has stand-alone value to the partner. This analysis also establishes a selling price hierarchy for determining how to allocate arrangement consideration to identified units of accounting. The selling price used for each unit of accounting is based on vendor-specific objective evidence, if available, third-party evidence if vendor-specific objective evidence is not available, or estimated selling price if neither vendor-specific nor third-party evidence is available. Typically, the Company has not granted licenses to partners at the beginning of its arrangements and thus there are no delivered items separate from the research and development services provided. As such, upfront payments are recorded as deferred revenues in the balance sheet and are recognized as contract research and development revenues over the estimated period of performance that is consistent with the terms of the research and development obligations contained in the agreement. The Company periodically reviews the estimated period of performance based on the progress made under each arrangement.

	Amounts related to research and development funding are generally recognized as the related services or activities are performed, in accordance with the contract terms. To the extent that agreements specify services are to be performed on a cost-plus basis, revenues are recognized as services are rendered. Such work is generally billed on a monthly basis for time incurred at specified rates in the agreements. To the extent that agreements specify services to be performed on a fixed-price basis, revenues are recognized consistent with the pattern of the work performed. Generally, all of the agreements provide for reimbursement of third-party expenses, and such reimbursable expenses are billed as revenues as incurred.

	The arrangements may include contractual milestones, which relate to the achievement of pre-specified research, development, regulatory and commercialization events. The milestone events contained in the Company’s arrangements coincide with the progression of the Company’s product candidates from research and development, to regulatory approval and through to commercialization. The process of successfully developing a new product, having it approved from a regulatory perspective and ultimately sold for a profit is highly uncertain. As such, the milestone payments that the Company may earn from its partners involve a significant degree of risk to achieve. Research and development milestones in the Company’s collaboration agreements may include the following types of events: completion of pre-clinical research and development work, completion of certain development events and initiation or completion of clinical trials. Regulatory milestones may include the following types of events: filing of regulatory applications with the Food and Drug Administration and approval of the regulatory applications by the Food and Drug Administration. Commercialization milestones may include product launch. The Company recognizes each milestone payment in its entirety in the period in which the milestone is achieved.

	Upon commercialization, revenues are generated from product sales, royalties and profit sharing. Product sales are generally recognized as products are shipped and title and risk of loss pass to the partner. Royalties and profit sharing are generally recognized when the Company’s partners sell the product to their customers and are based on a percentage of the Company’s partners’ gross sales or net profits for products subject to the Company’s agreements with its partners. Royalties and profit sharing totaled $1.1 million and $3.0 million for the three and six months ended March 31, 2014, compared to $2.3 million and $4.3 million for the corresponding periods in 2013.

	Other revenues consist primarily of income derived from the Company’s arrangements with its partners, whereby a portion of the revenues received under these agreements relates to rental income from embedded leases associated with these relationships, as well as revenues associated with licenses granted to a third party for intellectual property related to thin film dressings.

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Mar. 31, 2014
Fair Value Measurements	'
Fair Value Measurements	'
	2. Fair Value Measurements

	Except as noted below, the carrying values of the Company’s financial instruments, including cash equivalents, accounts receivable, and accounts payable, approximated their fair values due to the short period of time to maturity or repayment.

	The Company’s financial instruments that are measured at fair value on a recurring basis as of September 30, 2013 and as of March 31, 2014, by level within the fair value hierarchy, are as follows (in thousands):

		As of March 31, 2014
		Level I			Level II		Level III			Total
	Preferred stock warrant liability	$	—		$	—	$	834		$	834
	Total financial liabilities	$	—		$	—	$	834		$	834

		As of September 30, 2013
		Level I			Level II		Level III			Total
	Preferred stock warrant liability	$	—		$	—	$	560		$	560
	Subordinated note embedded derivative liability	—			—		7,367			7,367
	Total financial liabilities	$	—		$	—	$	7,927		$	7,927

	The Company’s Level III liabilities consist of a preferred stock warrant liability (see Note 6) and subordinated note embedded derivative liability (Note 4). The following table sets forth a summary of the changes in the fair value of the Company’s Level III financial liabilities, which are measured on a recurring basis (in thousands):

	Balance as of September 30, 2013	$	7,927
	Change in fair value of preferred stock warrants	274
	Change in fair value of subordinated note embedded derivative liability	(7,367		)
	Balance as of March 31, 2014	$	834

	The following financial instruments have carrying values which differ from their fair value as estimated by the Company based on market quotes for instruments with similar terms and remaining maturities (Level III valuation technique) (in thousands):

		As of March 31, 2014
		Carrying			Fair		Difference
		Value			Value		Difference
	Long-term debt	$	37,622		$	37,622	$	—
	Convertible notes	9,475			15,047		5,572
	Subordinated note	16,199			16,445		246
	Total	$	63,296		$	69,114	$	5,818

		As of September 30, 2013
		Carrying			Fair		Difference
		Value			Value		Difference
	Long-term debt	$	37,413		$	37,413	$	—
	Convertible notes	9,399			14,316		4,917
	Subordinated note	13,000			9,508		(3,492		)
	Total	$	59,812		$	61,237	$	1,425

Inventories

Inventories	6 Months Ended
	Mar. 31, 2014
Inventories	'
Inventories	'
	3. Inventories

	Inventories consist of the following (in thousands):

		As of March			As of
		31, 2014			September
					30, 2013
	Raw materials	$	1,698		$	2,410
	Work in process	761			1,546
	Finished goods	789			667
	Total inventories, cost	3,248			4,623
	Less inventory reserves	(208		)	(115		)
	Total inventories, net	$	3,040		$	4,508

Debt

Debt	6 Months Ended
	Mar. 31, 2014
Debt	'
Debt	'
	4. Debt

	The Company’s outstanding debt as of September 30, 2013 and March 31, 2014 consist of a bank line of credit, amounts outstanding under a term loan agreement classified as long-term debt, convertible notes and a subordinated note as follows (in thousands):

		As of March		As of
		31, 2014		September
				30, 2013
	Bank line of credit	$	2,658	$	3,873
	Long-term debt	37,622		37,413
	Convertible notes	9,475		9,399
	Subordinated note	16,199		13,000
	Total	65,954		63,685
	Less current portion, consisting of bank line of credit and long-term debt	2,696		4,330
	Long-term portion	$	63,258	$	59,355

	Bank Line of Credit

	The Company entered into a line of credit on August 31, 2012 which provides for borrowings up to $6.0 million, expires on August 31, 2014, and is collateralized by a first security interest in cash, accounts receivable, and inventory, as well as a secondary interest in all other assets of the Company. Advances under the line of credit are based on 80% of eligible accounts receivable. The line of credit bears interest at 0.25%, plus the bank’s prime rate (an effective rate of 4.25% as of September 30, 2013 and March 31, 2014), and provides for a minimum monthly interest charge of $5,000. In addition, the line of credit required a $60,000 facility fee which was paid in August 2013. The line of credit contains a minimum monthly liquidity covenant of $2.0 million of net cash on deposit with the commercial bank. The Company was in compliance with such covenant as of September 30, 2013 and March 31, 2014.

	Long-term Debt

	Long-term debt was as follows (in thousands):

		As of March		As of
		31, 2014		September
				30, 2013
	Term loan agreement expiring June 30, 2017. See terms of the agreement below. Less discount of $103 and $89 as of September 30, 2013 and March 31, 2014	$	36,953	$	36,293
	Notes payable to lessor for tenant improvements. The note calls for monthly payments of principal and interest of $3 at an interest rate of 7% and is due April 2015	111		124
	Notes payable to lessor for tenant improvements. The note calls for monthly payments of principal and interest of $6 at an interest rate of 7% and is due November 2024	558		575
	Notes payable to finance Company insurance premiums. The note calls for monthly payments of principal and interest of $71 at an interest rate of 2.192% and is due March 2014	—		421
	Total	37,622		37,413
	Less current portion	38		457
	Long-term portion	$	37,584	$	36,956

	On July 13, 2012, the Company completed a $35.0 million term loan agreement with a financial investment fund. In August 2012 and December 2012, the Company drew down $29.0 million and $6.0 million under this agreement. The agreement requires interest to be paid quarterly at a simple annual rate of 15%, and that all outstanding principal be repaid in four equal quarterly payments beginning September 30, 2016. The facility also contains a provision whereby the Company can choose to defer cash payment of 3.5% interest on the original outstanding principal from the first 11 quarterly interest payments by converting that portion of the interest otherwise due into additional notes under the agreement. As of September 30, 2013 and March 31, 2014, the Company has converted $1.4 million and $2.0 million, respectively, of interest into additional notes (payment-in-kind notes). Amounts outstanding under the term loan agreement are collateralized by all of the Company’s assets and the agreement contains a 1% fee on all draws and provides for a prepayment penalty on the outstanding principal if the Company chooses to repay principal prior to maturity, or upon other specified events, including a change of control. The term loan agreement provides for financial covenants for minimum revenues and minimum liquidity, with which the Company was in compliance as of September 30, 2013 and March 31, 2014.

	Convertible Notes

	In 2008 and 2009, the Company issued convertible bridge notes (the “Convertible Notes”) and warrant purchase agreements to several of the existing Series C preferred stock investors, whereby the Company raised a total of $20.0 million. As originally issued, the Convertible Notes accrued interest at 10% per year and mature on the earliest of July 31, 2009, the consummation of a significant sale of assets of the Company outside the normal course of business, or upon an uncured event of default. Subsequently, the maturities of the Convertible Notes were initially extended to October 31, 2009, after which they became due. In connection with the closing of the $35.0 million term loan agreement in July 2012, the Company further extended the maturity date of the Convertible Notes to July 1, 2017. Interest has not been paid on the Convertible Notes since inception, and is therefore presented as long-term accrued interest.

	The Convertible Notes are convertible into preferred stock of the Company. Upon completion of the Company’s next preferred stock equity financing, the Convertible Notes will convert automatically into the series of preferred stock issued in that financing, at a conversion price equal to the price per share for such financing. The Convertible Notes are secured by all assets of the Company, with such security interest being subordinated to the security interest granted by the Company to its commercial bank and the $35.0 million term loan agreement. Pursuant to an intercreditor agreement the Company entered into in July 2012, the Company is not permitted to pay interest on these notes until maturity.

	The Convertible Notes also provide for an amendment of the voting agreement between the Company and the majority of its stockholders, pursuant to which the major investor has the right to increase the maximum size of the board of directors to 11 and the major investor also has the right to appoint up to 6 of the directors. As of March 31, 2014 the major investor had not exercised either of these rights.

	In connection with the Convertible Notes, the Company also issued common stock warrants exercisable for a number of shares equal to 60% of the principal amount of the Convertible Notes, divided by the conversion price of the Convertible Notes, which is, initially, the original issue price of the Series C preferred stock. The warrants are only exercisable following conversion of the Convertible Notes into preferred stock and will be exercisable for shares of common stock of the Company.

	Subordinated Note

	In 2009, the Company issued a subordinated note (the “Subordinated Note”) to one of the existing Series C preferred stock investors raising a total of $13.0 million. The Subordinated Note accrues simple interest at 5% per year and had an original maturity of the earliest of March 31, 2010, the consummation of a significant sale of assets of the Company outside the normal course of business, or upon an uncured event of default. In connection with the closing of the term loan agreement during the year ended September 30, 2012, the maturity of the Subordinated Note was extended to July 1, 2017, and, as a result, the Subordinated Note is classified as a long-term obligation as of September 30, 2013 and March 31, 2014. Interest has not been paid on the Subordinated Note since inception and is therefore, presented as long-term accrued interest.

	The Subordinated Note is secured by all assets of the Company, with such security interest subordinated to the security interest granted by the Company to both its commercial bank and the term loan agreement. Pursuant to an intercreditor agreement the Company entered into in July 2012, the Company is not permitted to pay interest on these notes until maturity.

	If the Company consummates a merger of the Company or a sale of all or substantially all of the Company’s assets, or a significant asset sale prior to the full repayment of the Subordinated Note, then, at the written election of the subordinated note holder, the holder of the Subordinated Note will be entitled to be repaid the entire outstanding balance under the Subordinated Note plus an additional amount equal to the outstanding principal under the Subordinated Note, plus all accrued interest. The Company has determined that this feature is an embedded derivative requiring bifurcation and separate accounting. The fair value of this embedded derivative liability was $7.4 million as of September 30, 2013, but as of March 31, 2014 the Company has determined that, due to the proximity of the Company’s IPO as of that date (see Note 1), the probability of scenarios that would trigger the payment of the additional amount was negligible and, as a result, the embedded derivative has no value. The change in fair value was recorded to change in fair value of Subordinated Note embedded derivative liability.

	Recapitalization

	In December 2013, the Company entered into an amendment and conversion agreement with Essex Woodlands pursuant to which the Company and Essex Woodlands (i) amended the Convertible Notes held by Essex Woodlands and other investors to provide that they will automatically convert either into 2,036,555 shares of the Company’s common stock immediately prior to the closing of an initial public offering of the Company’s common stock or into 2,036,555 shares of the Company’s Series C preferred stock immediately prior to the first closing of a qualified equity financing that occurs prior to the closing of an initial public offering of the Company’s common stock, and the Convertible Notes will be terminated; (ii) amended the terms of the Subordinated Note to provide that it will automatically convert either into 3,387,146 shares of the Company’s common stock immediately prior to the closing of an initial public offering of the Company’s common stock or into 3,387,146 shares of a new series of the Company’s preferred stock (with identical rights, preferences and privileges as the Company’s Series C preferred stock, but with a liquidation preference of one times its original issue price) immediately prior to the first closing of a qualified equity financing that occurs prior to the closing of an initial public offering of the Company’s common stock, and the Subordinated Note will be terminated; and (iii) requires Essex Woodlands to effect the automatic conversion of all outstanding shares of the Company’s preferred stock in connection with the completion of an initial public offering of the Company’s common stock.

	Simultaneously, the Company also entered into a repurchase agreement pursuant to which the Company agreed to repurchase 1,077,809 shares of the Company’s common stock for an aggregate repurchase price of $5.2 million from two of the Company’s founders. These repurchases will occur immediately prior to the earlier of the consummation of an initial public offering of the Company’s common stock and the first closing of a qualified equity financing, and these repurchases will satisfy in full all of the Company’s remaining obligations under the repurchase agreements which are discussed in Note 7.

	On April 8, 2014, in connection with the closing of the IPO, the Convertible Notes and Subordinated Note were converted and terminated, and the Company repurchased 1,077,809 shares of common stock from the founders as described above.

Collaboration_and_Partner_Arra

Collaboration and Partner Arrangements	6 Months Ended
	Mar. 31, 2014
Collaboration and Partner Arrangements	'
Collaboration and Partner Arrangements	'
	5. Collaboration and Partner Arrangements

	The Company has recognized the following revenues from its collaboration and partner agreements during the three and six months ended March 31, 2013 and 2014 (in thousands):

		Three Months Ended March 31,				Six Months Ended March 31,
		2014		2013		2014		2013
	P&G	$	2,811	$	2,533	$	5,762	$	5,262
	Teva	2,784		3,973		6,487		8,394
	Actavis/Par	3,405		4,667		6,528		8,563
	Agile	851		1,287		1,217		2,603
	Other	866		76		1,191		338
	Total revenues	$	10,717	$	12,536	$	21,185	$	25,160

Warrants

Warrants	6 Months Ended
	Mar. 31, 2014
Warrants	'
Warrants	'
	6. Warrants

	The Company issued warrants to purchase shares of the Company’s stock as part of several transactions from 2008 through 2013. The warrants have been recorded as either equity instruments or liability instruments based on the terms of the warrants.

	Preferred Stock Warrants

	The Company issued warrants to purchase Series C preferred stock, which comprise the only warrants to purchase preferred stock issued by the Company as of March 31, 2014.

	All of the Series C preferred stock warrants are exercisable for a period of five years from issuance except certain warrants to purchase 163,522 shares of Series C preferred stock that expire upon the earlier of five years and the closing of an IPO. The warrants are exercisable in cash or through a cashless exercise provision. Under the cashless exercise provision, the holder may, in lieu of payment of the exercise price in cash, surrender the warrant and receive a net amount of shares based on the fair market value of the Series C preferred stock at the time of exercise of the warrant after deducting the aggregate exercise price. In the event that all outstanding shares of the Series C convertible preferred stock are converted into common stock, the warrants will be exercisable for the same number of shares of common stock.

	As of September 30, 2013 and March 31, 2014, warrants to purchase 1,739,992 and 1,380,241 shares of Series C preferred stock were outstanding with a weighted average exercise price of $0.90 per share. Of this amount, warrants to purchase 1,380,241 shares of Series C preferred stock contain antidilution protection. Therefore, the Company evaluated these warrants as derivative instruments, and accordingly recorded the warrants as liabilities at fair value at the time of issuance, with the fair value then adjusted at each subsequent balance sheet date. The Company will continue to adjust the preferred stock warrant liabilities for changes in the fair value of the warrants until the earlier of (i) the exercise of the warrants, (ii) the conversion of the underlying preferred stock into common stock, at which time, the liability will be reclassified to stockholders’ equity, and (iii) the expiration of the warrants.

	The fair value of the outstanding convertible preferred stock warrants containing antidilution protection was remeasured as of September 30, 2013 and March 31, 2014 using the Probability-Weighted Expected Return Model. The Company uses a number of assumptions to estimate the fair value including the likelihood of various scenarios, the expected volatility and the fair value of the underlying stock under each scenario. These assumptions are:

		As of March 31,	As of
		2014	September 30,
			2013
	Remaining contractual term (in years)	4.80 – 7.70	5.07 - 8.24
	Risk-free interest rate	1.73 – 2.30%	1.39 - 2.02%
	Expected volatility	70 - 75%	68 - 77%
	Expected dividend rate	0%	0%

	The fair value of these warrants totaled $0.6 million and $0.8 million as of September 30, 2013 and March 31, 2014.

	On April 8, 2014, in connection with the closing of the IPO, certain warrants to purchase Series C convertible preferred stock were converted and net exercised into 971,440 shares of common stock, and the remainder of the outstanding warrants to purchase Series C convertible preferred stock were all converted into warrants to purchase common stock.

	Common Stock Warrants

	As of September 30, 2013 and March 31, 2014, warrants to purchase 1,294,613 shares of common stock were outstanding with a weighted average exercise price of $1.95 per share. All of the common stock warrants are exercisable at the earlier of a period of five years from issuance and the closing of an initial public offering of common stock. The fair value of these warrants was recorded in stockholders’ deficit upon issuance.

	On April 8, 2014, in connection with the closing of the IPO, warrants to purchase 1,286,495 shares of common stock, along with warrants to purchase 163,522 shares of Series C convertible preferred stock, were net exercised into 971,440 shares of common stock.

Convertible_Preferred_Stock_Re

Convertible Preferred Stock, Redeemable Common Stock and Stockholders' Deficit	6 Months Ended
	Mar. 31, 2014
Convertible Preferred Stock, Redeemable Common Stock and Stockholders' Deficit	'
Convertible Preferred Stock, Redeemable Common Stock and Stockholders' Deficit	'
	7. Convertible Preferred Stock, Redeemable Common Stock and Stockholders’ Deficit

	Convertible Preferred Stock

	Convertible preferred stock as of September 30, 2013 and March 31, 2014, on an unconverted basis, consists of the following (in thousands, except for share and per share data):

		Shares	Original		Shares Issued	Aggregate
		Authorized	Issue		and	Liquidation
			Price		Outstanding	Amount
	Series A	1,114,100	$	0.22	1,114,066	$	490
	Series B	7,602,200	0.875		7,602,132	6,652
	Series C	57,000,000	0.917		27,318,702	50,119
	Balance as of September 30, 2013 and March 31, 2014	65,716,300			36,034,900	$	57,261


	Common Stock

	The Company was authorized to issue up to 115,000,000 shares of common stock as of September 30, 2013 and March 31, 2014 at par value of $0.001 per share. The Company had reserved shares of common stock, on an as-if converted basis, for issuance as follows:

		As of March	As of
		31, 2014	September
			30, 2013
	Issuances under stock option plans	2,050,019	1,781,846
	Conversion of convertible preferred stock	3,567,807	3,567,811
	Issuances upon exercise of convertible preferred stock warrants	136,653	172,276
	Issuances upon exercise of common stock warrants	1,294,613	1,294,618
		7,049,092	6,816,551

	Repurchases of Common Stock from Founders — In connection with the Series C financing, the Company, in accordance with specific stock repurchase agreements approved by the board of directors, the Company purchased from the two founders an aggregate of 215,872 shares of common stock at a purchase price of $9.26 per share. The stock repurchase agreements also provided for the Company to repurchase an additional total of 215,872 shares of common stock held by each of the two founders at a price of $9.26 per share. These agreements were amended in March 2008 to suspend the Company’s obligation to repurchase these shares if, in the discretion of the Company’s board of directors, any such repurchase would result in a material adverse effect on the Company’s financial condition. As these shares are conditionally redeemable, they are classified outside of stockholders’ deficit. As of September 30, 2013 and March 31, 2014, the remaining agreement to repurchase such shares is contingent on approval by the board of directors. As discussed in Note 4, in December 2013, the Company entered into another agreement which would include the satisfaction in full of all of the Company’s remaining obligations under these repurchase agreements upon the earlier of the closing of an initial public offering of the Company’s common stock and the first closing of a qualified equity financing.

	The Company completed the repurchase of 1,077,809 shares of common stock from the founders on April 8, 2014, thereby satisfying all of the Company’s obligations under the repurchase agreements.

StockBased_Compensation

Stock-Based Compensation	6 Months Ended
	Mar. 31, 2014
Stock-Based Compensation	'
Stock-Based Compensation	'
	8. Stock-Based Compensation

	Equity Incentive Plans

	As of September 30, 2013 and March 31, 2014, the Company has three equity incentive plans, two sponsored by the Company, and a separate stock option plan of StrataGent, Inc. StrataGent, Inc. was acquired by the Company on September 20, 2007. The unexpired, unexercised options outstanding for those employees of StrataGent who remained Company employees after the merger was effected were assumed by the Company. Each StrataGent option became exercisable into whole shares of Corium stock based on an agreed exchange ratio and per share exercise price such that the total value of the option grant did not change. The Company elected to make no further grants under the StrataGent Plan; however its terms continue to govern all options issued under that plan. No additional shares available for grant were assumed by the Company, and any options that were returned to the pool subsequent to the merger were canceled and were not made available for future grants. This wholly owned subsidiary was dissolved during 2008.

	The Corium plans consist of the 2002 stock option plan that expired in 2012 and the 2012 equity incentive plan which was adopted in November 2012. The exercise price of each option issued under the Corium Plan is no less than the fair value of the Company’s stock, as determined by the board of directors on the date of the grant.The maximum term of the options is ten years and the maximum vesting period is four years.

	A summary of activity under the Corium Plan during the six months ended March 31, 2014 is as follows:

		Shares		Stock		Weighted			Weighted	Aggregate
		Available		Options		Average			Average	Intrinsic
		for Grant		Outstanding		Exercise			Remaining	Value
						Price			Contractual Life
									(Years)
										(In
										thousands)

	Balance — September 30, 2013	248,410		1,528,876		$	2.22		7.22	$	1,287
	Additional shares authorized	272,277		—
	Granted	(467,089	)	467,089		$	4.14
	Exercised	—		(3,211	)	$	2.22
	Forfeited	124		(124	)	$	2.22
	Cancelled	2,246		(2,243	)	$	2.22

	Balance — March 31, 2014	55,968		1,990,387		$	2.65		7.34	$	10,649

	Employee stock-based compensation expense for the three and six months ended March 31, 2013 and 2014 is classified in the statements of operations as follows (in thousands):

		Three Months Ended March 31,						Six Months Ended March 31,
		2014			2013			2014		2013
	Cost of product revenues	$	5		$	4		$	11	$	22
	Cost of contract research and development revenues	5			2			9		13
	Research and development	16			4			23		24
	General and administrative	168			31			207		154
	Total stock-based compensation	$	194		$	41		$	250	$	213

	As of March 31, 2014, there was a total of $3.6 million of unrecognized employee compensation cost, net of estimated forfeitures, related to non-vested stock option awards, which is expected to be recognized on a straight-line basis over a weighted-average period of approximately 2.7 years.

	On March 20, 2014, the Company approved the following new plans, which became effective in connection with the IPO:

	· 2014 Equity Incentive Plan. Under the plan, the Company has reserved a total of 1.0 million shares plus the remaining unissued shares under the 2012 equity incentive plan of common stock for issuance to employees. On January 1 of each year for the ten year term of the plan, the number of shares issuable under the plan can be increased by an amount equal to up to 4% of the number of shares of common stock outstanding as of the preceding December 31, as agreed to by the board of directors. No shares under the plan have been issued as of March 31, 2014.
	· 2014 Employee Stock Purchase Plan. Under the plan, the Company has reserved a total of 310,000 shares of common stock for issuance to employees. On January 1 of each year for the ten year term of the plan, the number of shares issuable by the plan can be increased by an amount equal up to 1% of the number of shares of common stock outstanding as of the preceding December 31, as agreed to by the board of directors, however, no more than 3.0 million shares may be issued over the ten year term of the plan. No shares under the plan have been issued as of March 31, 2014.

Product_Recall_Liability

Product Recall Liability	6 Months Ended
	Mar. 31, 2014
Product Recall Liability	'
Product Recall Liability	'
	9. Product Recall Liability

	In fiscal 2008 and fiscal 2010, Actavis issued two voluntary recalls of certain lots and strengths of Fentanyl TDS manufactured by the Company and sold and distributed by Actavis in the United States. The Company and Actavis negotiated financial settlements for these two recalls, and the Company accrued amounts related to these settlements in fiscal 2009 and 2011. Such recall liabilities were subsequently reduced through various mechanisms per the terms of the settlement agreements.

	In October 2012, the Company reached a revised settlement related to these recalls which provides for a total and combined remaining liability of $5.0 million. The revised liability will be repaid through quarterly payments in arrears based on a percentage of the average of the total net revenues recorded by the Company related to Fentanyl TDS. These payments to Actavis started July 1, 2013 and continue through April 1, 2017. To the extent that the revised settlement liability is not repaid as of April 1, 2017, the remaining liability, if any, will be converted into the most recent form of capital stock issued by the Company in connection with a financing, at the price per share of that financing. The revised liability does not accrue interest.

	The following table summarizes the changes to the product recall liability (in thousands):

	Balance at September 30, 2013	$	4,832
	Payment of settlement liability	(627		)
	Balance at March 31, 2014	$	4,205

Net_Income_Loss_Per_Common_Sha

Net Income (Loss) Per Common Share	6 Months Ended
Net Income (Loss) Per Common Share	Mar. 31, 2014
Net Income (Loss) Per Common Share	'
Net Income (Loss) Per Common Share	'
	10. Net Income (Loss) Per Common Share

	The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share attributable to common stockholders during the three and six months ended March 31, 2013 and 2014 (in thousands, except share and per share data):

		Three Months Ended						Six Months Ended March
		March 31,						31,
		2014			2013			2014			2013
	Basic Net income (loss) per share
	Net Income (loss) attributable to common stockholders, basic and diluted	$	3,534		$	(1,999	)	$	1,436		$	(3,432	)
	Less: undistributed earnings attributable to participating securities	(2,420		)	—			(1,375		)	—
	Net Income (loss) attributable to common stockholders, basic	$	1,114		$	(1,999	)	$	61		$	(3,432	)
	Weighted average shares used in computing net income (loss) per share attributable to common stockholders, basic	2,232,300			2,225,742			2,231,049			2,218,801
	Net Income (loss) attributable to common stockholders, basic	$	0.5		$	(0.90	)	$	0.03		$	(1.55	)

		Three Months Ended						Six Months Ended March
		March 31,						31,
		2014			2013			2014			2013
	Fully Diluted Net income (loss) per share
	Net Income (loss) attributable to common stockholders, basic	$	3,534		$	(1,999	)	$	1,436		$	(3,432	)
	Less: undistributed earnings attributable to participating securities	(1,573		)	—			(1,358		)	—
	Net Income (loss) attributable to common stockholders, diluted	$	1,961		$	(1,999	)	$	78		$	(3,432	)
	Weighted average shares used in computing net income (loss) per share attributable to common stockholders, basic	2,232,300			2,225,742			2,231,049			2,218,801
	Effect of potentially dilutive securities
	Dilutive options	756,300			—			518,655			—
	Assumed conversion of convertible notes	2,063,989			—			—			—
	Common stock warrants	877,720			—			733,252			—
	Weighted average shares used in computing net income (loss) per share attributable to common stockholders, diluted	5,930,309			2,225,742			3,482,956			2,218,801
	Net income (loss) attributable to common stockholders, diluted	$	0.33		$	(0.90	)	$	0.02		$	(1.55	)

	The following outstanding shares of common stock equivalents were excluded from the computation of the diluted net income (loss) per share attributable to common stockholders for the periods presented because including them would have been antidilutive:

		Three months ended March				Six months ended March
		31,				31,
		2014		2013		2014		2013
	Convertible preferred stock	3,567,807		3,567,811		3,537,807		3,567,811
	Stock options to purchase common stock	—		1,489,238		37,902		1,489,238
	Common stock warrants	—		1,286,499		—		1,286,499
	Preferred stock warrants	170,962		172,276		136,658		172,276
	Convertible notes	—		1,982,667		2,090,604		1,982,667

Income_Taxes

Income Taxes	6 Months Ended
Income Taxes	Mar. 31, 2014
Income Taxes	'
Income Taxes	'
	11. Income Taxes

	The Company did not record a provision for income taxes for the three and six months ended March 31, 2014, because it expected to generate a net operating loss for the year ending September 31, 2014. The Company’s deferred tax assets continue to be fully offset by a valuation allowance.

Segment_and_Enterprisewide_Inf

Segment and Enterprise-wide Information	6 Months Ended
Segment and Enterprise-wide Information	Mar. 31, 2014
Segment and Enterprise-wide Information	'
Segment and Enterprise-wide Information	'
	12. Segment and Enterprise-wide Information

	The Company’s chief operating decision maker is its chief executive officer. The chief executive officer reviews its operating results on an aggregate basis for purposes of allocating resources and evaluating financial performance. The Company has one business activity and there are no segment managers who are held accountable for operations, or operating results for levels or components. Accordingly, the Company has a single reporting segment and operating unit structure.

	All of the Company’s revenues are derived from partners located in the United States and all long-lived assets are located in the United States.

Subsequent_Events

Subsequent Events	6 Months Ended
Subsequent Events	Mar. 31, 2014
Subsequent Events	'
Subsequent Events	'
	13. Subsequent Events

	Initial Public Offering

	In connection with the IPO discussed in Note 1, the Company also completed the following related transactions:

	· Warrants to purchase 163,522 shares of convertible preferred stock and warrants to purchase 1,286,495 shares of common stock, were all automatically exercised for 971,440 shares of common stock using the net exercise provisions in the warrants. See Note 1.

	· 2,036,655 shares of common stock were issued to the holders of the Convertible Notes under the conversion rights granted to the note holders as part of the recapitalization. See Note 4.

	· 3,387,146 shares of common stock were issued to the holders of the Subordinated Note under the conversion rights granted to the note holders as part of the recapitalization. See Note 4.

	· 1,077,809 shares of redeemable common stock were repurchased from the founders for a total of $5.2 million as part of the recapitalization. See Note 4.

	· The 2014 equity incentive plan and the 2014 employee stock purchase plans, described in Note 8, became effective.

	· Conversion of preferred warrants that did not net exercise and remain outstanding.

	· Termination of the 2012 equity incentive plan and rollover of unissued shares into the 2014 equity plan.

	· Filing of the Restated Certificate of Incorporation on April 8, 2014, increasing the authorized common stock and authorizing the preferred stock.

	Performance-Based Stock Option Grants- During the year ended September 30, 2013, the Company granted options to purchase 146,024 shares of common stock to certain executive officers and directors, which contain performance-based vesting criteria. These shares vest upon completion of certain milestone events which are specific to the Company’s corporate goals. Stock-based compensation expense associated with these performance-based stock options is recognized if the performance condition is considered probable of achievement using management’s best estimates. Since the closing of the IPO in April 2014, the Compensation Committee of the Company’s board of directors has determined that the performance-based criteria have been met for options related to 137,510 shares of common stock and, accordingly, the Company will be recording stock-based compensation expense of $0.3 million for the three months ending June 30, 2014 related to these performance-based stock options.

Organization_Description_of_Bu1

Organization, Description of Business, and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2014
Organization, Description of Business, and Summary of Significant Accounting Policies	'
Organization	'
	Organization

	Corium International, Inc., a Delaware corporation (the “Company”), is a commercial stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty pharmaceutical products that leverage its broad experience in transdermal and transmucosal delivery systems.

	In the normal course of business, the Company enters into collaborative agreements with partners to develop and manufacture products based on the Company’s drug delivery technologies. Revenues consist of net sales of products manufactured, royalties and profit-sharing payments based on sales of such products by partners, and product development fees for research and development activities under collaborative agreements with strategic partners. The Company is also engaged in the research and development of its own proprietary transdermal drug delivery products using its proprietary technologies.
Basis of Presentation	'
	Basis of Presentation

	The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and following the requirements of the Securities and Exchange Commission (the “SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These financial statements have been prepared on the same basis as the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments that are necessary for a fair statement of the Company’s financial information. The results of operations for the three and six months ended March 31, 2014 are not necessarily indicative of the results to be expected for the year ending September 30, 2014 or for any future period. The balance sheet as of September 30, 2013 has been derived from the audited financial statements at that date but does not include all of the information required by U.S. GAAP for complete financial statements.

	The accompanying condensed financial statements and related financial information should be read in conjunction with the audited financial statements and the related notes thereto for the year ended September 30, 2013 included in the Company’s Prospectus filed pursuant to Rule 424(b)(4) on April 3, 2014 with the SEC (the “Prospectus”).

	There have been no material changes to the significant accounting policies previously disclosed in the Prospectus.
Reverse Stock Split	'
	Reverse Stock Split

	On March 20, 2014, the Company effected a 1-for-10.1 reverse stock split of the Company’s outstanding common stock resulting in a reduction of the Company’s total common stock issued and outstanding from 19,032,056 shares to 1,884,362 shares. The reverse stock split affected all stockholders of the Company’s common stock uniformly, and did not materially affect any stockholder’s percentage of ownership interest. The par value of the Company’s common stock remained unchanged at $0.001 per share and the number of authorized shares of common stock remained the same after the reverse stock split.

	As the par value per share of the Company’s common stock remained unchanged at $0.001 per share, a total of $17,148 was reclassified from common stock to additional paid-in capital. In connection with this reverse stock split, the number of shares of common stock reserved for issuance under the Company’s equity incentive, stock option and employee stock purchase plans (see Note 4) as well as the shares of common stock underlying outstanding stock options, restricted stock units and warrants were also proportionately reduced while the exercise prices of such stock options and warrants were proportionately increased. All references to shares of common stock and per share data for all periods presented in the accompanying financial statements and notes thereto have been adjusted to reflect the reverse stock split on a retroactive basis.
Initial Public Offering	'
	Initial Public Offering

	On April 2, 2014, the Company’s registration statements on Form S-1 (File No. 333-195002 and File No. 333-195002) relating to the Initial Public Offering (the “IPO”) of its common stock were declared effective by the SEC. The IPO closed on April 8, 2014 at which time the Company sold 6,500,000 shares of its common stock at a price of $8.00 per share. Corium also granted the underwriters a 30-day option to purchase up to 975,000 additional shares of common stock at the IPO price. The underwriters exercised this option to purchase 374,997 shares on May 2, 2014. The Company received net cash proceeds of $48.5 million from the IPO, including proceeds from the partial exercise of the underwriters’ option, after underwriting discounts and commissions and estimated expenses paid by the Company.

	On April 8, 2014, immediately prior to the closing of the IPO, all outstanding shares of convertible preferred stock converted into 3,567,807 shares of common stock, and the related carrying value of $57.3 million was reclassified to common stock and additional paid-in capital. In addition, certain warrants to purchase convertible preferred stock and common stock were also converted and net exercised into 971,440 shares of common stock. Upon the consummation of the IPO, Corium also repurchased 1,077,809 shares of common stock for an aggregate purchase price of $5.2 million from its founders.

	Following the filing of the Restated Certificate of Incorporation of the Company on April 8, 2014, the number of shares of capital stock the Company is authorized to issue is 155,000,000 shares, of which 150,000,000 shares may be common stock and 5,000,000 shares may be preferred stock. Both the common stock and preferred stock have a par value of $0.001 per share.
Use of Estimates	'
	Use of Estimates

	Estimates and assumptions are required to be used by management in the preparation of financial statements in conformity with U.S. GAAP that affect the reported amounts of assets, liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of operating revenues and operating expenses during the reporting period. Those estimates and assumptions affect revenue recognition and deferred revenues, impairment of long-lived assets, determination of fair value of stock-based awards and other debt and equity related instruments, and accounting for income taxes. As future events and their effects cannot be determined with precision, actual results could differ from those estimates.
Concentration of Credit Risk	'
	Concentration of Credit Risk

	Four partners accounted for 92% and 94% of the Company’s revenues for the three and six months ended March 31, 2014, compared to 99% and 99% for the corresponding periods in 2013. These same partners accounted for 98% and 100% of accounts receivable as of March 31, 2014 and September 30, 2013.
Revenue Recognition	'
	Revenue Recognition

	The Company generates revenues from agreements for the development and commercialization of its products. The terms of the agreements may include nonrefundable upfront payments, partial or complete reimbursement of research and development costs, milestone payments, product sales and royalties and profit sharing on product sales derived from partner agreements. The Company recognizes revenues when the following criteria are met: persuasive evidence of a sales arrangement exists; delivery has occurred; the price is fixed or determinable; and collectability is reasonably assured.

	Revenue related to multiple element arrangements are analyzed to determine whether the deliverables can be separated or whether they must be accounted for as a single unit of accounting. This determination is generally based on whether any deliverable has stand-alone value to the partner. This analysis also establishes a selling price hierarchy for determining how to allocate arrangement consideration to identified units of accounting. The selling price used for each unit of accounting is based on vendor-specific objective evidence, if available, third-party evidence if vendor-specific objective evidence is not available, or estimated selling price if neither vendor-specific nor third-party evidence is available. Typically, the Company has not granted licenses to partners at the beginning of its arrangements and thus there are no delivered items separate from the research and development services provided. As such, upfront payments are recorded as deferred revenues in the balance sheet and are recognized as contract research and development revenues over the estimated period of performance that is consistent with the terms of the research and development obligations contained in the agreement. The Company periodically reviews the estimated period of performance based on the progress made under each arrangement.

	Amounts related to research and development funding are generally recognized as the related services or activities are performed, in accordance with the contract terms. To the extent that agreements specify services are to be performed on a cost-plus basis, revenues are recognized as services are rendered. Such work is generally billed on a monthly basis for time incurred at specified rates in the agreements. To the extent that agreements specify services to be performed on a fixed-price basis, revenues are recognized consistent with the pattern of the work performed. Generally, all of the agreements provide for reimbursement of third-party expenses, and such reimbursable expenses are billed as revenues as incurred.

	The arrangements may include contractual milestones, which relate to the achievement of pre-specified research, development, regulatory and commercialization events. The milestone events contained in the Company’s arrangements coincide with the progression of the Company’s product candidates from research and development, to regulatory approval and through to commercialization. The process of successfully developing a new product, having it approved from a regulatory perspective and ultimately sold for a profit is highly uncertain. As such, the milestone payments that the Company may earn from its partners involve a significant degree of risk to achieve. Research and development milestones in the Company’s collaboration agreements may include the following types of events: completion of pre-clinical research and development work, completion of certain development events and initiation or completion of clinical trials. Regulatory milestones may include the following types of events: filing of regulatory applications with the Food and Drug Administration and approval of the regulatory applications by the Food and Drug Administration. Commercialization milestones may include product launch. The Company recognizes each milestone payment in its entirety in the period in which the milestone is achieved.

	Upon commercialization, revenues are generated from product sales, royalties and profit sharing. Product sales are generally recognized as products are shipped and title and risk of loss pass to the partner. Royalties and profit sharing are generally recognized when the Company’s partners sell the product to their customers and are based on a percentage of the Company’s partners’ gross sales or net profits for products subject to the Company’s agreements with its partners. Royalties and profit sharing totaled $1.1 million and $3.0 million for the three and six months ended March 31, 2014, compared to $2.3 million and $4.3 million for the corresponding periods in 2013.

	Other revenues consist primarily of income derived from the Company’s arrangements with its partners, whereby a portion of the revenues received under these agreements relates to rental income from embedded leases associated with these relationships, as well as revenues associated with licenses granted to a third party for intellectual property related to thin film dressings.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2014
Fair Value Measurements	'
Schedule of the Company's financial instruments that are measured at fair value on a recurring basis by level within the fair value hierarchy	'
	The Company’s financial instruments that are measured at fair value on a recurring basis as of September 30, 2013 and as of March 31, 2014, by level within the fair value hierarchy, are as follows (in thousands):

		As of March 31, 2014
		Level I			Level II		Level III			Total
	Preferred stock warrant liability	$	—		$	—	$	834		$	834
	Total financial liabilities	$	—		$	—	$	834		$	834

		As of September 30, 2013
		Level I			Level II		Level III			Total
	Preferred stock warrant liability	$	—		$	—	$	560		$	560
	Subordinated note embedded derivative liability	—			—		7,367			7,367
	Total financial liabilities	$	—		$	—	$	7,927		$	7,927
Summary of the changes in the fair value of the Company's Level III financial liabilities, which are measured on a recurring basis	'
	The following table sets forth a summary of the changes in the fair value of the Company’s Level III financial liabilities, which are measured on a recurring basis (in thousands):

	Balance as of September 30, 2013	$	7,927
	Change in fair value of preferred stock warrants	274
	Change in fair value of subordinated note embedded derivative liability	(7,367		)
	Balance as of March 31, 2014	$	834
Schedule of differences between carrying values and estimated fair value of financial instruments	'
	The following financial instruments have carrying values which differ from their fair value as estimated by the Company based on market quotes for instruments with similar terms and remaining maturities (Level III valuation technique) (in thousands):

		As of March 31, 2014
		Carrying			Fair		Difference
		Value			Value		Difference
	Long-term debt	$	37,622		$	37,622	$	—
	Convertible notes	9,475			15,047		5,572
	Subordinated note	16,199			16,445		246
	Total	$	63,296		$	69,114	$	5,818

		As of September 30, 2013
		Carrying			Fair		Difference
		Value			Value		Difference
	Long-term debt	$	37,413		$	37,413	$	—
	Convertible notes	9,399			14,316		4,917
	Subordinated note	13,000			9,508		(3,492		)
	Total	$	59,812		$	61,237	$	1,425

Inventories_Tables

Inventories (Tables)	6 Months Ended
	Mar. 31, 2014
Inventories	'
Schedule of Inventories	'
	Inventories consist of the following (in thousands):

		As of March			As of
		31, 2014			September
					30, 2013
	Raw materials	$	1,698		$	2,410
	Work in process	761			1,546
	Finished goods	789			667
	Total inventories, cost	3,248			4,623
	Less inventory reserves	(208		)	(115		)
	Total inventories, net	$	3,040		$	4,508

Debt_Tables

Debt (Tables)	6 Months Ended
	Mar. 31, 2014
Debt	'
Schedule of the entity's outstanding debt	'
	The Company’s outstanding debt as of September 30, 2013 and March 31, 2014 consist of a bank line of credit, amounts outstanding under a term loan agreement classified as long-term debt, convertible notes and a subordinated note as follows (in thousands):

		As of March		As of
		31, 2014		September
				30, 2013
	Bank line of credit	$	2,658	$	3,873
	Long-term debt	37,622		37,413
	Convertible notes	9,475		9,399
	Subordinated note	16,199		13,000
	Total	65,954		63,685
	Less current portion, consisting of bank line of credit and long-term debt	2,696		4,330
	Long-term portion	$	63,258	$	59,355
Schedule of long-term debt	'
	Long-term debt was as follows (in thousands):

		As of March		As of
		31, 2014		September
				30, 2013
	Term loan agreement expiring June 30, 2017. See terms of the agreement below. Less discount of $103 and $89 as of September 30, 2013 and March 31, 2014	$	36,953	$	36,293
	Notes payable to lessor for tenant improvements. The note calls for monthly payments of principal and interest of $3 at an interest rate of 7% and is due April 2015	111		124
	Notes payable to lessor for tenant improvements. The note calls for monthly payments of principal and interest of $6 at an interest rate of 7% and is due November 2024	558		575
	Notes payable to finance Company insurance premiums. The note calls for monthly payments of principal and interest of $71 at an interest rate of 2.192% and is due March 2014	—		421
	Total	37,622		37,413
	Less current portion	38		457
	Long-term portion	$	37,584	$	36,956

Collaboration_and_Partner_Arra1

Collaboration and Partner Arrangements (Tables)	6 Months Ended
	Mar. 31, 2014
Collaboration and Partner Arrangements	'
Schedule of revenues from the entity's collaboration and partner agreements	'
	The Company has recognized the following revenues from its collaboration and partner agreements during the three and six months ended March 31, 2013 and 2014 (in thousands):

		Three Months Ended March 31,				Six Months Ended March 31,
		2014		2013		2014		2013
	P&G	$	2,811	$	2,533	$	5,762	$	5,262
	Teva	2,784		3,973		6,487		8,394
	Actavis/Par	3,405		4,667		6,528		8,563
	Agile	851		1,287		1,217		2,603
	Other	866		76		1,191		338
	Total revenues	$	10,717	$	12,536	$	21,185	$	25,160

Warrants_Tables

Warrants (Tables)	6 Months Ended
Warrants (Tables)	Mar. 31, 2014
Warrants	'
Schedule of assumptions used to estimate the fair value of outstanding warrants	'

		As of March 31,	As of
		2014	September 30,
			2013
	Remaining contractual term (in years)	4.80 – 7.70	5.07 - 8.24
	Risk-free interest rate	1.73 – 2.30%	1.39 - 2.02%
	Expected volatility	70 - 75%	68 - 77%
	Expected dividend rate	0%	0%

Convertible_Preferred_Stock_Re1

Convertible Preferred Stock, Redeemable Common Stock and Stockholders' Deficit (Tables)	6 Months Ended
	Mar. 31, 2014
Convertible Preferred Stock, Redeemable Common Stock and Stockholders' Deficit	'
Schedule of convertible preferred stock on an unconverted basis	'
	Convertible preferred stock as of September 30, 2013 and March 31, 2014, on an unconverted basis, consists of the following (in thousands, except for share and per share data):

		Shares	Original		Shares Issued	Aggregate
		Authorized	Issue		and	Liquidation
			Price		Outstanding	Amount
	Series A	1,114,100	$	0.22	1,114,066	$	490
	Series B	7,602,200	0.875		7,602,132	6,652
	Series C	57,000,000	0.917		27,318,702	50,119
	Balance as of September 30, 2013 and March 31, 2014	65,716,300			36,034,900	$	57,261

Schedule of reserved shares of common stock, on an as-if converted basis, for issuance	'

		As of March	As of
		31, 2014	September
			30, 2013
	Issuances under stock option plans	2,050,019	1,781,846
	Conversion of convertible preferred stock	3,567,807	3,567,811
	Issuances upon exercise of convertible preferred stock warrants	136,653	172,276
	Issuances upon exercise of common stock warrants	1,294,613	1,294,618
		7,049,092	6,816,551

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Mar. 31, 2014
Stock-Based Compensation	'
Summary of activity under the Corium Plan	'

		Shares		Stock		Weighted			Weighted	Aggregate
		Available		Options		Average			Average	Intrinsic
		for Grant		Outstanding		Exercise			Remaining	Value
						Price			Contractual Life
									(Years)
										(In
										thousands)

	Balance — September 30, 2013	248,410		1,528,876		$	2.22		7.22	$	1,287
	Additional shares authorized	272,277		—
	Granted	(467,089	)	467,089		$	4.14
	Exercised	—		(3,211	)	$	2.22
	Forfeited	124		(124	)	$	2.22
	Cancelled	2,246		(2,243	)	$	2.22

	Balance — March 31, 2014	55,968		1,990,387		$	2.65		7.34	$	10,649
Schedule of employee stock-based compensation expense classified in the statements of operations	'
	Employee stock-based compensation expense for the three and six months ended March 31, 2013 and 2014 is classified in the statements of operations as follows (in thousands):

		Three Months Ended March 31,						Six Months Ended March 31,
		2014			2013			2014		2013
	Cost of product revenues	$	5		$	4		$	11	$	22
	Cost of contract research and development revenues	5			2			9		13
	Research and development	16			4			23		24
	General and administrative	168			31			207		154
	Total stock-based compensation	$	194		$	41		$	250	$	213

Product_Recall_Liability_Table

Product Recall Liability (Tables)	6 Months Ended
	Mar. 31, 2014
Product Recall Liability	'
Summary of changes to the product recall liability	'
	The following table summarizes the changes to the product recall liability (in thousands):

	Balance at September 30, 2013	$	4,832
	Payment of settlement liability	(627		)
	Balance at March 31, 2014	$	4,205

Net_Income_Loss_Per_Common_Sha1

Net Income (Loss) Per Common Share (Tables)	6 Months Ended
Net Income (Loss) Per Common Share (Tables)	Mar. 31, 2014
Net Income (Loss) Per Common Share	'
Schedule of computation of the Company's basic and diluted net income (loss) per share attributable to common stockholders	'
	The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share attributable to common stockholders during the three and six months ended March 31, 2013 and 2014 (in thousands, except share and per share data):

		Three Months Ended						Six Months Ended March
		March 31,						31,
		2014			2013			2014			2013
	Basic Net income (loss) per share
	Net Income (loss) attributable to common stockholders, basic and diluted	$	3,534		$	(1,999	)	$	1,436		$	(3,432	)
	Less: undistributed earnings attributable to participating securities	(2,420		)	—			(1,375		)	—
	Net Income (loss) attributable to common stockholders, basic	$	1,114		$	(1,999	)	$	61		$	(3,432	)
	Weighted average shares used in computing net income (loss) per share attributable to common stockholders, basic	2,232,300			2,225,742			2,231,049			2,218,801
	Net Income (loss) attributable to common stockholders, basic	$	0.5		$	(0.90	)	$	0.03		$	(1.55	)

		Three Months Ended						Six Months Ended March
		March 31,						31,
		2014			2013			2014			2013
	Fully Diluted Net income (loss) per share
	Net Income (loss) attributable to common stockholders, basic	$	3,534		$	(1,999	)	$	1,436		$	(3,432	)
	Less: undistributed earnings attributable to participating securities	(1,573		)	—			(1,358		)	—
	Net Income (loss) attributable to common stockholders, diluted	$	1,961		$	(1,999	)	$	78		$	(3,432	)
	Weighted average shares used in computing net income (loss) per share attributable to common stockholders, basic	2,232,300			2,225,742			2,231,049			2,218,801
	Effect of potentially dilutive securities
	Dilutive options	756,300			—			518,655			—
	Assumed conversion of convertible notes	2,063,989			—			—			—
	Common stock warrants	877,720			—			733,252			—
	Weighted average shares used in computing net income (loss) per share attributable to common stockholders, diluted	5,930,309			2,225,742			3,482,956			2,218,801
	Net income (loss) attributable to common stockholders, diluted	$	0.33		$	(0.90	)	$	0.02		$	(1.55	)
Schedule of anti-dilutive securities excluded from calculation of diluted net income (loss) per share attributable to common stockholders	'

		Three months ended March				Six months ended March
		31,				31,
		2014		2013		2014		2013
	Convertible preferred stock	3,567,807		3,567,811		3,537,807		3,567,811
	Stock options to purchase common stock	—		1,489,238		37,902		1,489,238
	Common stock warrants	—		1,286,499		—		1,286,499
	Preferred stock warrants	170,962		172,276		136,658		172,276
	Convertible notes	—		1,982,667		2,090,604		1,982,667

Organization_Description_of_Bu2

Organization, Description of Business, and Summary of Significant Accounting Policies (Details) (USD $)	Apr. 08, 2014	Mar. 31, 2014	Sep. 30, 2013	2-May-14	Apr. 08, 2014
	Apr. 08, 2014	Mar. 31, 2014	Sep. 30, 2013	Subsequent event	Subsequent event
Initial public offering	'	'	'	'	'
Shares of common stock sold in IPO	'	'	'	'	6,500,000
Price at which shares of common stock were sold in IPO (in dollars per share)	'	'	'	'	$8
Period during which underwriters have an option to purchase additional shares of common stock	'	'	'	'	'30 days
Maximum number of additional shares of common stock for which underwriters have an option to purchase at initial public offering price	'	'	'	'	975,000
Net cash proceeds from the IPO, including proceeds from the partial exercise of the underwriters' option, after underwriting discounts and commissions and estimated expenses	'	'	'	'	$48,500,000
Shares of common stock issued upon conversion of all outstanding shares of convertible preferred stock	'	'	'	'	3,567,807
Carrying value of outstanding shares of convertible preferred stock reclassified to common stock and additional paid-in capital	'	'	'	'	57,300,000
Shares of common stock issued upon conversion of convertible preferred stock and common stock	'	'	'	'	971,440
Number of shares purchased by underwriters	'	'	'	374,997	'
Aggregate repurchase price	'	'	'	'	$5,200,000
Authorized shares	155,000,000	'	'	'	'
Authorized common stock (in shares)	150,000,000	115,000,000	115,000,000	'	'
Authorized preferred stock (in shares)	5,000,000	'	'	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00	$0.00	'	'
Preferred stock, par value (in dollars per share)	$0.00	'	'	'	'

Organization_Description_of_Bu3

Organization, Description of Business, and Summary of Significant Accounting Policies (Details 2) (USD $)

0 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Mar. 20, 2014

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Apr. 08, 2014

Sep. 30, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Sep. 30, 2013

Revenues

Accounts receivable

Customer concentration

Credit concentration

partner

Four partners

Reverse Stock Split

Stock split ratio

0.099

Common stock outstanding before reverse stock split (in shares)

19,032,056

Common stock outstanding

1,884,362

18,843,444

Common stock, par value (in dollars per share)

$0.00

Reclassification of common stock to additional paid-in capital

$17,148

Concentration of credit risk

Number of partners

Concentration risk percentage

92.00%

99.00%

94.00%

99.00%

98.00%

100.00%

Revenue Recognition

Royalties and profit sharing

$1,100,000

$2,300,000

$3,000,000

$4,300,000

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Sep. 30, 2013
Fair value measurements	'	'
Preferred stock warrant liability	$834	$560
Recurring basis \| Level III	'	'
Fair value measurements	'	'
Preferred stock warrant liability	834	560
Subordinated note embedded derivative liability	'	7,367
Total financial liabilities	834	7,927
Recurring basis \| Total	'	'
Fair value measurements	'	'
Preferred stock warrant liability	834	560
Subordinated note embedded derivative liability	'	7,367
Total financial liabilities	$834	$7,927

Fair_Value_Measurements_Detail1

Fair Value Measurements (Details 2) (USD $)	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2014	Sep. 30, 2013	Preferred stock warrants	Subordinated note embedded derivative liability
Changes in the fair value of the Level III financial liabilities	'	'	'	'
Balance at the beginning of the period	$834	$7,927	'	'
Change in fair value	'	'	274	-7,367
Balance at the end of the period	$834	$7,927	'	'

Fair_Value_Measurements_Detail2

Fair Value Measurements (Details 3) (Level III valuation technique, USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Sep. 30, 2013
Carrying Value	'	'
Fair value measurements	'	'
Long-term debt	$37,622	$37,413
Convertible notes	9,475	9,399
Subordinated note	16,199	13,000
Total	63,296	59,812
Fair Value	'	'
Fair value measurements	'	'
Long-term debt	37,622	37,413
Convertible notes	15,047	14,316
Subordinated note	16,445	9,508
Total	69,114	61,237
Difference	'	'
Fair value measurements	'	'
Convertible notes	5,572	4,917
Subordinated note	246	-3,492
Total	$5,818	$1,425

Inventories_Details

Inventories (Details) (USD $)	Mar. 31, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Sep. 30, 2013
Inventories	'	'
Raw materials	$1,698	$2,410
Work in process	761	1,546
Finished goods	789	667
Total inventories, cost	3,248	4,623
Less inventory reserves	-208	-115
Total inventories, net	$3,040	$4,508

Debt_Details

Debt (Details) (USD $)

Mar. 31, 2014

Sep. 30, 2013

Aug. 31, 2013

Mar. 31, 2014

Sep. 30, 2013

Aug. 31, 2012

Mar. 31, 2014

Sep. 30, 2013

Mar. 31, 2014

Sep. 30, 2013

Mar. 31, 2014

Sep. 30, 2013

Mar. 31, 2014

Sep. 30, 2013

Bank line of credit

Long-term debt

Convertible notes

Subordinated note

Minimum

Prime rate

Debt

Total debt

$65,954,000

$63,685,000

$2,658,000

$3,873,000

$37,622,000

$37,413,000

$9,475,000

$9,399,000

$16,199,000

$13,000,000

Less current portion, consisting of bank line of credit and long-term debt

2,696,000

4,330,000

Long-term portion

63,258,000

59,355,000

Maximum borrowing capacity

6,000,000

Percentage of eligible accounts receivable considered as base for advances under line of credit facility

80.00%

Basis spread on variable rate (as a percent)

0.25%

Variable rate basis

'prime rate

Effective interest rate (as a percent)

4.25%

Monthly interest charge

5,000

Facility fee under line of credit facility

60,000

Monthly liquidity covenant of net cash on deposit with the commercial bank under the facility

$2,000,000

Debt_Details_2

Debt (Details 2) (USD $)

Mar. 31, 2014

Sep. 30, 2013

Dec. 31, 2012

Aug. 31, 2012

Mar. 31, 2014

Sep. 30, 2013

Jul. 13, 2012

Mar. 31, 2014

Sep. 30, 2013

Mar. 31, 2014

Sep. 30, 2013

Term loan agreement expiring on June 30, 2017

Notes payable due in April 2015

Notes payable due in November 2024

Notes payable due in March 2014

payment

installment

Long-term Debt

Total long-term debt

$37,622,000

$37,413,000

$36,953,000

$36,293,000

$111,000

$124,000

$558,000

$575,000

$421,000

Less current portion

38,000

457,000

Long-term portion

37,584,000

36,956,000

Unamortized discount

89,000

103,000

Monthly payments of principal and interest

3,000

6,000

71,000

Interest rate (as a percent)

15.00%

7.00%

2.19%

Debt issued

35,000,000

Amount drawn

6,000,000

29,000,000

Number of quarterly installments for repayment of outstanding principal

Percentage of cash payment the entity can defer by converting interest due into additional notes

3.50%

Number of quarterly interest payments of which a portion of the interest due can be converted into additional notes under deferral of cash payment

Portion of interest due converted into additional notes

$2,000,000

$1,400,000

Percentage of fee on amount drawn under the facility

1.00%

Debt_Details_3

Debt (Details 3) (USD $)

3 Months Ended

0 Months Ended

1 Months Ended

6 Months Ended

0 Months Ended

24 Months Ended

6 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

Mar. 31, 2014

Apr. 08, 2014

Dec. 31, 2013

Mar. 31, 2014

Apr. 08, 2014

Sep. 30, 2009

Mar. 31, 2014

Sep. 30, 2009

Dec. 31, 2013

Mar. 31, 2014

Jul. 13, 2012

Sep. 30, 2009

Mar. 31, 2014

Sep. 30, 2013

Dec. 31, 2013

Subsequent event

Redeemable Common Stock

Convertible notes and warrant purchase agreements

Convertible notes

Term loan agreement

Subordinated note

founder

Subsequent event

director

Common stock

Series C preferred stock

Common stock

New series preferred stock

Debt

Proceeds from issuance of debt and warrants

$20,000,000

Interest rate (as a percent)

10.00%

15.00%

5.00%

Debt issued

35,000,000

Size of the board of directors up to which the major investor can increase

Number of directors up to which the major investor can appoint

Percentage of note principal to be issued in the form of common stock warrants

60.00%

Proceeds from debt issued

13,000,000

Fair value of embedded derivative liability

7,400,000

Conversion of debt securities (in shares)

2,063,989

2,036,555

3,387,146

Repurchase of common stock from founders (in shares)

1,077,809

Aggregate repurchase price

$5,200,000

Number of founders

Shares repurchased from the founders

215,872

1,077,809

Collaboration_and_Partner_Arra2

Collaboration and Partner Arrangements (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Collaboration and partner arrangements	'	'	'	'
Total revenues	$10,717	$12,536	$21,185	$25,160
Collaboration and partner arrangements	'	'	'	'
Collaboration and partner arrangements	'	'	'	'
Total revenues	10,717	12,536	21,185	25,160
Collaboration and partner arrangements \| P&G	'	'	'	'
Collaboration and partner arrangements	'	'	'	'
Total revenues	2,811	2,533	5,762	5,262
Collaboration and partner arrangements \| Teva	'	'	'	'
Collaboration and partner arrangements	'	'	'	'
Total revenues	2,784	3,973	6,487	8,394
Collaboration and partner arrangements \| Actavis/Par	'	'	'	'
Collaboration and partner arrangements	'	'	'	'
Total revenues	3,405	4,667	6,528	8,563
Collaboration and partner arrangements \| Agile	'	'	'	'
Collaboration and partner arrangements	'	'	'	'
Total revenues	851	1,287	1,217	2,603
Collaboration and partner arrangements \| Other	'	'	'	'
Collaboration and partner arrangements	'	'	'	'
Total revenues	$866	$76	$1,191	$338

Warrants_Details

Warrants (Details) (USD $)	0 Months Ended	6 Months Ended	12 Months Ended	0 Months Ended	6 Months Ended	12 Months Ended	6 Months Ended	12 Months Ended	6 Months Ended		0 Months Ended
In Millions, except Share data, unless otherwise specified	Apr. 08, 2014	Mar. 31, 2014	Sep. 30, 2013	Apr. 08, 2014	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2014	Sep. 30, 2013	Apr. 08, 2014
	Subsequent event	Preferred stock warrants	Preferred stock warrants	Preferred stock warrants	Preferred stock warrants	Preferred stock warrants	Preferred stock warrants	Preferred stock warrants	Common stock warrants	Common stock warrants	Common stock warrants
				Subsequent event	Minimum	Minimum	Maximum	Maximum			Subsequent event
Warrants	'	'	'	'	'	'	'	'	'	'	'
Warrant term	'	'5 years	'	'	'	'	'	'	'5 years	'	'
Number of warrants that expire upon the earlier of five years and the closing of an IPO (in shares)	'	163,522	'	'	'	'	'	'	'	'	'
Warrants outstanding (in shares)	'	1,380,241	1,739,992	'	'	'	'	'	1,294,613	1,294,613	'
Weighted average exercise price (in dollars per shares)	'	$0.90	$0.90	'	'	'	'	'	$1.95	$1.95	'
Number of warrants with antidilution protection (in shares)	'	1,380,241	1,380,241	'	'	'	'	'	'	'	'
Assumptions to estimate the fair value of warrant	'	'	'	'	'	'	'	'	'	'	'
Remaining contractual term	'	'	'	'	'4 years 9 months 18 days	'5 years 25 days	'7 years 8 months 12 days	'8 years 2 months 26 days	'	'	'
Risk-free interest rate (as a percent)	'	'	'	'	1.73%	1.39%	2.30%	2.02%	'	'	'
Expected volatility (as a percent)	'	'	'	'	70.00%	68.00%	75.00%	77.00%	'	'	'
Expected dividend rate (as a percent)	'	0.00%	0.00%	'	'	'	'	'	'	'	'
Fair value of warrants	'	$0.80	$0.60	'	'	'	'	'	'	'	'
Stock automatically exercised into shares of common stock using the net exercise provisions in the warrants (in shares)	'	'	'	163,522	'	'	'	'	'	'	1,286,495
Shares of common stock issued upon conversion of Series C convertible preferred stock	971,440	'	'	971,440	'	'	'	'	'	'	'

Convertible_Preferred_Stock_Re2

Convertible Preferred Stock, Redeemable Common Stock and Stockholders' Deficit (Details) (USD $)	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2014	Sep. 30, 2013	Apr. 08, 2014
In Thousands, except Share data, unless otherwise specified	Convertible Preferred Stock	Convertible Preferred Stock	Series A	Series A	Series B	Series B	Series C	Series C	Common Stock	Common Stock	Common Stock
											Subsequent event
Convertible preferred stock	'	'	'	'	'	'	'	'	'	'	'
Shares Authorized	65,716,300	65,716,300	1,114,100	1,114,100	7,602,200	7,602,200	57,000,000	57,000,000	'	'	'
Original Issue Price (in dollars per shares)	'	'	$0.22	$0.22	$0.88	$0.88	$0.92	$0.92	'	'	'
Shares Issued	36,034,900	36,034,900	1,114,066	1,114,066	7,602,132	7,602,132	27,318,702	27,318,702	347,945	347,945	'
Shares Outstanding	36,034,900	36,034,900	1,114,066	1,114,066	7,602,132	7,602,132	27,318,702	27,318,702	'	'	'
Aggregate Liquidation Amount	$57,261	$57,261	$490	$490	$6,652	$6,652	$50,119	$50,119	'	'	'
Number of shares repurchased	'	'	'	'	'	'	'	'	215,872	'	1,077,809

Convertible_Preferred_Stock_Re3

Convertible Preferred Stock, Redeemable Common Stock and Stockholders' Deficit (Details 2) (USD $)	Apr. 08, 2014	Mar. 31, 2014	Sep. 30, 2013
Common stock	'	'	'
Common shares authorized	150,000,000	115,000,000	115,000,000
Common shares par value (in dollars per share)	$0.00	$0.00	$0.00
Common Stock reserved	'	'	'
Issuances under stock option plans (in shares)	'	2,050,019	1,781,846
Conversion of convertible preferred stock (in shares)	'	3,567,807	3,567,811
Total shares of common stock reserved	'	7,049,092	6,816,551
Preferred stock warrants	'	'	'
Common Stock reserved	'	'	'
Issuances upon exercise of warrants (in shares)	'	136,653	172,276
Common stock warrants	'	'	'
Common Stock reserved	'	'	'
Issuances upon exercise of warrants (in shares)	'	1,294,613	1,294,618

Convertible_Preferred_Stock_Re4

Convertible Preferred Stock, Redeemable Common Stock and Stockholders' Deficit (Details 3) (Common Stock, USD $)	1 Months Ended	6 Months Ended
	Dec. 31, 2013	Mar. 31, 2014
	founder	founder
Common Stock	'	'
Repurchases of Common Stock from Founders	'	'
Number of founders	2	2
Number of shares repurchased	'	215,872
Purchase price under the stock repurchase program (in dollars per share)	'	$9.26
Number of additional shares authorized to repurchase	'	215,872

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Sep. 30, 2013
	plan	plan
Stock-based compensation	'	'
Number of plans	3	3
StrataGent Plan \| Stock option \| StrataGent, Inc.	'	'
Shares Available for Grant	'	'
Balance at the end of the period (in shares)	0	0
Corium Plan \| Stock option	'	'
Shares Available for Grant	'	'
Balance at the beginning of the period (in shares)	248,410	'
Additional shares authorized	272,277	'
Granted (in shares)	-467,089	'
Forfeited (in shares)	124	'
Cancelled (in shares)	2,246	'
Balance at the end of the period (in shares)	55,968	248,410
Stock Options Outstanding	'	'
Balance at the beginning of the period (in shares)	1,528,876	'
Granted (in shares)	467,089	'
Exercised (in shares)	-3,211	'
Forfeited (in shares)	-124	'
Cancelled (in shares)	-2,243	'
Balance at the end of the period (in shares)	1,990,387	1,528,876
Weighted Average Exercise Price	'	'
Balance at the beginning of the period (in dollars per share)	2.22	'
Granted (in dollars per share)	4.14	'
Exercised (in dollars per share)	2.22	'
Forfeited (in dollars per share)	2.22	'
Cancelled (in dollars per share)	2.22	'
Balance at the end of the period (in dollars per share)	2.65	2.22
Weighted Average Remaining Contractual Life	'	'
Balance at the end of the period	'7 years 4 months 2 days	'7 years 2 months 19 days
Aggregate Intrinsic Value	'	'
Balance at the end of the period	10,649	1,287
Corium Plan \| Stock option \| Maximum	'	'
Stock-based compensation	'	'
Expiration period	'10 years	'
Vesting period	'4 years	'

StockBased_Compensation_Detail1

Stock-Based Compensation (Details 2) (USD $)	3 Months Ended		6 Months Ended
Stock-Based Compensation (Details 2) (USD $)	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Employee stock-based compensation expense	'	'	'	'
Stock-based compensation	$194,000	$41,000	$250,000	$213,000
Additional Disclosure	'	'	'	'
Unrecognized employee compensation cost, net of estimated forfeitures	3,600,000	'	3,600,000	'
Weighted-average period over which unrecognized compensation cost is expected to be recognized	'	'	'2 years 8 months 12 days	'
Cost of product revenues	'	'	'	'
Employee stock-based compensation expense	'	'	'	'
Stock-based compensation	5,000	4,000	11,000	22,000
Cost of contract research and development revenues	'	'	'	'
Employee stock-based compensation expense	'	'	'	'
Stock-based compensation	5,000	2,000	9,000	13,000
Research and development	'	'	'	'
Employee stock-based compensation expense	'	'	'	'
Stock-based compensation	16,000	4,000	23,000	24,000
General and administrative	'	'	'	'
Employee stock-based compensation expense	'	'	'	'
Stock-based compensation	$168,000	$31,000	$207,000	$154,000

StockBased_Compensation_Detail2

Stock-Based Compensation (Details 3)	0 Months Ended	6 Months Ended
Stock-Based Compensation (Details 3)	Mar. 20, 2014	Mar. 31, 2014
2014 Equity Incentive Plan	'	'
Stock-Based Compensation	'	'
Number of shares of common stock reserved under plan for issuance to employees	1,000,000	'
Term of the plan	'10 years	'
Maximum annual increase in number of shares issuable by the plan, as a percentage of shares outstanding as of the preceding December 31	4.00%	'
Shares issued under the plan	'	0
2014 Employee Stock Purchase Plan	'	'
Stock-Based Compensation	'	'
Number of shares of common stock reserved under plan for issuance to employees	310,000	'
Term of the plan	'10 years	'
Maximum annual increase in number of shares issuable by the plan, as a percentage of shares outstanding as of the preceding December 31	1.00%	'
Maximum number of shares to be issued over the term of the plan	3,000,000	'
Shares issued under the plan	'	0

Product_Recall_Liability_Detai

Product Recall Liability (Details) (USD $)	6 Months Ended		24 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Oct. 31, 2012	Sep. 30, 2010
			Actavis
			recall
Product recall liability	'	'	'
Number of voluntary recalls of certain lots and strengths of Fentanyl TDS	'	'	2
Revised combined remaining liability	$4,205	$5,000	'
Changes to the product recall liability	'	'	'
Balance at the beginning of the period	4,832	5,000	'
Payment of recall liability	-627	'	'
Balance at the end of the period	$4,205	$5,000	'

Net_Income_Loss_Per_Common_Sha2

Net Income (Loss) Per Common Share (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Basic Net income (loss) per share	'	'	'	'
Net Income (loss) attributable to common stockholders, basic (in dollars)	$3,534	($1,999)	$1,436	($3,432)
Less: undistributed earnings attributable to participating securities	-2,420	'	-1,375	'
Net Income (loss) attributable to common stockholders, basic	1,114	-1,999	61	-3,432
Weighted average shares used in computing net income (loss) per share attributable to common stockholders, basic	2,232,300	2,225,742	2,231,049	2,218,801
Net Income (loss) attributable to common stockholders, basic (in dollars per share)	$0.50	($0.90)	$0.03	($1.55)
Fully Diluted Net income (loss) per share	'	'	'	'
Net Income (loss) attributable to common stockholders, basic (in dollars)	3,534	-1,999	1,436	-3,432
Less: undistributed earnings attributable to participating securities	-1,573	'	-1,358	'
Net Income (loss) attributable to common stockholders, diluted	$1,961	($1,999)	$78	($3,432)
Weighted average shares used in computing net income (loss) per share attributable to common stockholders, basic	2,232,300	2,225,742	2,231,049	2,218,801
Effect of potentially dilutive securities	'	'	'	'
Dilutive options (in shares)	756,300	'	518,655	'
Assumed conversion of convertible notes (in shares)	2,063,989	'	'	'
Common stock warrants (in shares)	877,720	'	733,252	'
Weighted average shares used in computing net income (loss) per share attributable to common stockholders, diluted	5,930,309	2,225,742	3,482,956	2,218,801
Net income (loss) attributable to common stockholders, diluted (in dollars per share)	$0.33	($0.90)	$0.02	($1.55)
Convertible preferred stock	'	'	'	'
Anti-dilutive securities excluded from calculation of diluted net loss per share attributable to common stockholders	'	'	'	'
Number of anti-dilutive securities excluded from calculation of diluted net loss per share attributable to common stockholders	3,567,807	3,567,811	3,537,807	3,567,811
Stock options to purchase common stock	'	'	'	'
Anti-dilutive securities excluded from calculation of diluted net loss per share attributable to common stockholders	'	'	'	'
Number of anti-dilutive securities excluded from calculation of diluted net loss per share attributable to common stockholders	'	1,489,238	37,902	1,489,238
Common stock warrants	'	'	'	'
Anti-dilutive securities excluded from calculation of diluted net loss per share attributable to common stockholders	'	'	'	'
Number of anti-dilutive securities excluded from calculation of diluted net loss per share attributable to common stockholders	'	1,286,499	'	1,286,499
Preferred stock warrants	'	'	'	'
Anti-dilutive securities excluded from calculation of diluted net loss per share attributable to common stockholders	'	'	'	'
Number of anti-dilutive securities excluded from calculation of diluted net loss per share attributable to common stockholders	170,962	172,276	136,658	172,276
Convertible notes	'	'	'	'
Anti-dilutive securities excluded from calculation of diluted net loss per share attributable to common stockholders	'	'	'	'
Number of anti-dilutive securities excluded from calculation of diluted net loss per share attributable to common stockholders	'	1,982,667	2,090,904	1,982,667

Segment_and_Enterprisewide_Inf1

Segment and Enterprise-wide Information (Details)	6 Months Ended
	Mar. 31, 2014
	manager
	activity
Segment and Enterprise-wide Information	'
Number of business activities	1
Number of segment managers held accountable for operations, or operating results for levels or components	0

Subsequent_Events_Details

Subsequent Events (Details) (USD $)

3 Months Ended

6 Months Ended

12 Months Ended

0 Months Ended

1 Months Ended

3 Months Ended

0 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Sep. 30, 2013

Apr. 08, 2014

Apr. 30, 2014

Jun. 30, 2014

Apr. 08, 2014

Options

Subsequent event

Performance-based vesting

Options

Convertible Notes

Subordinated Note

Common stock warrants

Preferred stock warrants

Convertible preferred stock

Performance-based vesting

Subsequent events

Stock automatically exercised into shares of common stock using the net exercise provisions in the warrants (in shares)

1,286,495

163,522

Shares of common stock issued upon conversion of convertible preferred stock and common stock warrants

971,440

Common stock issued to the holders of notes

2,036,655

3,387,146

Value of redeemable common stock was repurchased from the founders

$5,200,000

Options granted (in shares)

146,024

Awards whose performance-based criteria have been met (in shares)

137,510

Stock-based compensation expense

$194,000

$41,000

$250,000

$213,000

$300,000