XML 46 R32.htm IDEA: XBRL DOCUMENT
v3.23.3

Stock-based compensation (Tables) | 6 Months Ended
--- | ---
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of stock-based compensation expense | Stock-based compensation expense was classified in the consolidated statements of operations as follows:
| Three Months Ended September 30, |  | Six Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Research and development | $ | 4,447 |  |  | $ | 2,529 |  |  | $ | 7,745 |  |  | $ | 5,143 |
Selling, general and administrative | 4,667 |  |  | 4,463 |  |  | 10,216 |  |  | 9,043 |
| $ | 9,114 |  |  | $ | 6,992 |  |  | $ | 17,961 |  |  | $ | 14,186 |
The following table summarizes stock-based compensation expense by award type for the three and six months ended September 30, 2023 and 2022:
| Three Months Ended September 30, |  | Six Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Stock options | $ | 5,688 |  |  | $ | 4,845 |  |  | $ | 11,302 |  |  | $ | 10,004 |
Restricted stock units | 3,426 |  |  | 2,147 |  |  | 6,659 |  |  | 4,182 |
| $ | 9,114 |  |  | $ | 6,992 |  |  | $ | 17,961 |  |  | $ | 14,186 |
Schedule of assumptions used to determine the grant-date fair value of stock options granted | The following table presents, on a weighted-average basis, the assumptions that the Company used to determine the grant-date fair value of stock options granted to employees and directors:
| Three Months Ended September 30, | Six Months Ended September 30,
| 2023 |  | 2022 | 2023 |  | 2022
Risk-free interest rate | 4.34 | % |  | 3.08 | % | 3.69 | % |  | 2.61 | %
Expected term (in years) | 6.1 |  | 6.1 | 6.0 |  | 6.0
Expected volatility | 72.7 | % |  | 74.5 | % | 73.9 | % |  | 75.5 | %
Expected dividend yield | 0 | % |  | 0 | % | 0 | % |  | 0 | %
Summary of stock option activity | The following table summarizes the Company’s stock option activity:
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Contractual Term (Years) |  | Aggregate Intrinsic Value
Outstanding as of March 31, 2023 | 7,454,828 |  |  | $ | 17.24 |  |  | 6.88 |  | $ | 31,244 |
Granted | 2,064,526 |  |  | $ | 18.08 |  |  |  |  |
Exercised | (163,356) |  |  | $ | 10.76 |  |  |  |  |
Cancelled | (200,611) |  |  | $ | 24.73 |  |  |  |  |
Outstanding as of September 30, 2023 | 9,155,387 |  |  | $ | 17.38 |  |  | 6.78 |  | $ | 27,858 |
Options exercisable as of September 30, 2023 | 5,400,346 |  |  | $ | 15.28 |  |  | 5.60 |  | $ | 26,556 |
Options vested and expected to vest as of September 30, 2023 | 9,155,387 |  |  | $ | 17.38 |  |  | 6.78 |  | $ | 27,858 |
Share-based payment arrangement, restricted stock and restricted stock unit, activity | A summary of the changes in the Company's RSUs during the three months ended September 30, 2023 is as follows:
| Number of Restricted Shares |  | Weighted Average Grant Date Fair Value
Outstanding as of March 31, 2023 | 1,351,280 |  |  | 24.38 |
Granted | 1,216,516 |  |  | 18.11 |
Vested | (297,019) |  |  | 25.36 |
Cancelled | (80,940) |  |  | 21.70 |
Outstanding as of September 30, 2023 | 2,189,837 |  |  | 20.86 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration