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Note 3 - Stock-based Compensation | 9 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Share-based Payment Arrangement [Text Block] | 3. Stock-Based Compensation The Company accounts for its stock-based compensation at fair value. The following table summarizes stock-based compensation expense by financial statement line item for the three and nine months ended December 31, 2019 and 2018 (in thousands):
|  | Three Months Ended December 31, |  |  | Nine Months Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Cost of revenues |  | $ | 21 |  |  | $ | 42 |  |  | $ | 45 |  |  | $ | 132 |
Research and development |  |  | 117 |  |  |  | 168 |  |  |  | 219 |  |  |  | 289 |
Selling, general and administrative |  |  | 452 |  |  |  | 582 |  |  |  | 971 |  |  |  | 1,981 |
Total |  | $ | 590 |  |  | $ | 792 |  |  | $ | 1,236 |  |  | $ | 2,402 |
The Company issued 13,174 shares of immediately vested common stock and 366,000 shares of restricted stock awards during the nine months ended December 31, 2019 and issued 4 7,075 shares of immediately vested common stock and 463,000 shares of restricted stock awards during the nine months ended December 31, 2018 . These restricted stock awards generally vest over 2 - 3 years. Awards for restricted stock include both time-based and performance-based awards. For options and restricted stock awards that vest upon the passage of time, expense is being recorded over the vesting period. Performance-based awards are expensed over the requisite service period based on probability of achievement. The estimated fair value of the Company’s stock-based awards, less expected annual forfeitures, is amortized over the awards’ service period. The total unrecognized compensation cost for unvested outstanding stock options was less than $ 0.1 million at December 31, 2019 . This expense will be recognized over a weighted average expense period of approximately 1.4 years. The total unrecognized compensation cost for unvested outstanding restricted stock was $ 3.9 million at December 31, 2019 . This expense will be recognized over a weighted-average expense period of approximately 1.4 years. The Company granted 5,939 stock options during the nine months ended December 31, 2019 . The Company did not grant any stock options during the three months ended December 31, 2019 or the three and nine months ended December 31, 2018 . The stock options granted during the nine months ended December 31, 2019 will vest over 2 ye ars. The weighted average assumptions used in the Black Scholes valuation model for stock options granted during the nine months ended December 31, 2019 are as follows:
|  | Three Months Ended December 31, |  |  | Nine Months Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Expected volatility |  |  | N/A |  |  |  | N/A |  |  |  | 66.5 | % |  |  | N/A |
Risk-free interest rate |  |  | N/A |  |  |  | N/A |  |  |  | 1.8 | % |  |  | N/A |
Expected life (years) |  |  | N/A |  |  |  | N/A |  |  |  | 5.91 |  |  |  | N/A |
Dividend yield |  | N/A |  |  |  | N/A |  |  | None |  |  |  | N/A |

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