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Income Taxes (Tables)
 12 Months Ended
Apr. 30, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of Loss Before Income Taxes

Loss before income taxes for the years ended April 30, 2022 and 2021 consisted of the following components:

 

   April 30, 2022   April 30, 2021 
   (in thousands) 
Domestic  $(20,665)  $(14,392)
Foreign  (32)   (368)
Total loss before income taxes  $(20,697)  $(14,760)
Schedule of Effective Income Tax Rate Reconciliation

The effective income tax rate differed from the percentages computed by applying the U.S. federal income tax rate for the periods ended April 30, 2022 and 2021 to loss before income taxes as a result of the following:

 

   April 30, 2022   April 30, 2021 
Computed expected tax benefit   (21.0)%   (21.0)%
Increase(reduction) in income taxes resulting from:          
State income taxes, net of federal benefit   5.2%   6.8%
Federal research and development tax credits   (0.6)%   (0.7)%
Foreign rate differential   —%   (1.3)%
Other non-deductible expenses   (0.9)%   (0.6)%
Proceeds of sale of New Jersey tax benefits   (7.0)%   —%
Other   1.3%   2.3%
Increase in valuation allowance   14.1%   14.5%
Income tax (benefit)   (8.9)%   —%
Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences and carry forwards that give rise to the Company’s deferred tax assets and deferred tax liabilities are presented below.

 

   April 30, 2022   April 30, 2021 
   (in thousands) 
Deferred tax assets:          
Federal net operating loss carryforwards  $40,338   $36,340 
Foreign net operating loss carryforwards   2,061    4,064 
State operating loss carryforwards   968    581 
Federal and New Jersey research and development tax credits   4,167    3,303 
Stock compensation   429    346 
Accrued expenses   79    158 
Other   (445)   545 
Net deferred tax assets before valuation allowance  $47,597   $45,337 
Valuation allowance  $(47,597)   (45,091)
Deferred tax assets  $—  $246 
           
Deferred tax liability:          
Other liability  $203   $246 
Net deferred tax assets (liabilities)  $

(203

)  $—