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Income Taxes (Tables)

12 Months Ended

Apr. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Loss Before Income Taxes

Loss before income taxes for the years ended April 30, 2023 and 2022 consisted of the following components:

 Schedule of Components of Loss Before Income Taxes

		April 30, 2023				April 30, 2022
		(in thousands)
Domestic		$	(26,578	)		$	(20,665	)
Foreign			(26	)			(32	)
Total loss before income taxes		$	(26,604	)		$	(20,697	)

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, 2023 and 2022 to loss before income taxes as a result of the following:

 Schedule of Effective Income Tax Rate Reconciliation

		April 30, 2023				April 30, 2022
Computed expected tax benefit			(21.0	)%			(21.0	)%
Increase(reduction) in income taxes resulting from:
State income taxes, net of federal benefit			4.0	%			5.2	%
Federal research and development tax credits			1.9	%			(0.6	)%
Foreign rate differential			—	%			—	%
Other non-deductible expenses			(1.1	)%			(0.9	)%
Proceeds of sale of New Jersey tax benefits			(7.0	)%			(7.0	)%
Other			1.3	%			1.3	%
Increase in valuation allowance			22.9	%			14.1	%
Income tax (benefit)			1.0	%			(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.

 Schedule of Deferred Tax Assets and Liabilities

		April 30, 2023				April 30, 2022
		(in thousands)
Deferred tax assets:
Federal net operating loss carryforwards		$	43,788			$	40,338
Foreign net operating loss carryforwards			2,059				2,061
State operating loss carryforwards			1,578				968
Federal and New Jersey research and development tax credits			5,143				4,167
Stock compensation			662				429
Accrued expenses			474				79
Capitalized section 174 research & development			1,453				-
Leases			448				207
Other			76				142
Net deferred tax assets before valuation allowance		$	55,681			$	48,391
Valuation allowance		$	(54,644	)			(47,597	)
Deferred tax assets		$	1,037			$	794
Deferred tax liabilities:
Lease liabilities		$	448			$	203
Intangibles			792				794
Net deferred tax liabilities		$	(203	)		$	(203	)

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- References

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
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- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
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