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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

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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.

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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.

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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.

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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.

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