Revenue during the quarter dropped 14.55 percent to $7.92 million from $9.27 million in the previous year period. Gross margin for the quarter expanded 443 basis points over the previous year period to 17.97 percent. Operating margin for the quarter stood at negative 92.71 percent as compared to a negative 72.20 percent for the previous year period.

Operating loss for the quarter was $7.34 million, compared with an operating loss of $6.69 million in the previous year period.

"During the 2016 fiscal year we made outstanding progress in moving our two lead Alzheimer's programs forward," said Peter D. Staple, president and chief executive officer of Corium. "Corplex™ Donepezil and Corplex™ Memantine are novel once-weekly transdermal product candidates that deliver the two most widely used treatments for patients with Alzheimer's disease, and would be the first transdermal dosage forms of these drugs. Our two Alzheimer's programs provide a powerful foundation for a CNS-focused proprietary pipeline. At the beginning of the fiscal year, we had just initiated our first-in-human clinical trials of both of these product candidates, and since then we have generated positive human clinical data. With those results, we have gained clear regulatory guidance from the FDA on a streamlined bioequivalence-based development path that applies to both products."

Debt moves up marginally
Corium International, Inc. has witnessed an increase in total debt over the last one year. It stood at $51.12 million as on Sep. 30, 2016, up 1.78 percent or $0.90 million from $50.22 million on Sep. 30, 2015. Total debt was 76.12 percent of total assets as on Sep. 30, 2016, compared with 49.85 percent on Sep. 30, 2015. Debt to equity ratio was at 17.92 as on Sep. 30, 2016, up from 1.42 as on Sep. 30, 2015.