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Stockholders' Equity
 9 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Series A Preferred Stock

As of December 31, 2024, 10,000 shares of Series A preferred stock, par value $0.0001 per share, were outstanding and held by RSL.

Each share of Series A preferred stock will automatically convert into one share of common stock at such time as the holder(s) of Series A preferred stock hold less than 25% of the total voting power of the Company’s outstanding shares. In the event of the Company’s liquidation, dissolution, or winding up, the holder(s) of the Series A preferred stock will receive first an amount per share equal to $0.01 and then will be entitled to share ratably in the assets legally available for distribution to all stockholders.
Preferred Stock

As of December 31, 2024, the Company has authorized 10,010,000 shares of preferred stock, par value $0.0001 per share. Other than the 10,000 shares of preferred stock designated as Series A preferred stock, there were no issued and outstanding shares of preferred stock as of December 31, 2024.

Common Stock

As of December 31, 2024, the Company has authorized 500,000,000 shares of common stock, par value $0.0001 per share and has 147,203,565 shares of common stock issued and outstanding. See Note 10 - Subsequent Events regarding the Company’s completion of a private placement in January 2025.

In October 2023, the Company completed an underwritten public offering of 8,475,500 shares of its common stock (including 1,526,316 shares of common stock purchased by RSL on the same terms as other investors in the offering and the full exercise of the underwriters’ option to purchase 1,105,500 additional shares of common stock) at a price to the public of $38.00 per share. Concurrent with the public offering, RSL purchased 4,473,684 shares of the Company’s common stock in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), at the same price per share as investors in the public offering. The net proceeds to the Company were $466.7 million after deducting underwriting discounts and commissions, placement agent fees and offering expenses.

The Company has reserved the following shares of common stock for issuance:
December 31, 2024March 31, 2024
Conversion of Series A preferred stock10,000 10,000 
Stock options outstanding13,197,741 13,050,172 
Restricted stock units outstanding4,307,275 4,099,279 
Equity awards available for future grants5,937,555 2,090,367 
Total23,452,571 19,249,818 

The reserved shares underlying restricted stock units above include 769,355 restricted stock units that vested but were not settled as of December 31, 2024. In addition, the Company has reserved 5,000,000 shares of its common stock that may be issued under its 2023 Inducement Plan as of December 31, 2024. See Note 8 – Stock-Based Compensation for further details.