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Stockholders' Equity (Tables) | 12 Months Ended
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Mar. 31, 2017
Equity [Abstract] |
Schedule of Stock-based Compensation Expense | Stock-based compensation expense for all stock awards consists of the following (in thousands):
|  | Year Ended March 31, 2017 |  |  | Year Ended March 31, 2016 (1) |  |  | Year Ended March 31, 2015 |
Research and development |  | $ | 1,646 |  |  | $ | 1,248 |  |  | $ | 1,190 |
General and administrative |  | $ | 5,746 |  |  | $ | 7,308 |  |  | $ | 5,830 |
Total |  | $ | 7,392 |  |  | $ | 8,556 |  |  | $ | 7,020 |
Fair Value of Employee Stock Options | The fair value of stock options was estimated at the grant date using the following weighted average assumptions:
|  | Year Ended March 31, 2017 |  |  | Year Ended March 31, 2016 |  |  | Year Ended March 31, 2015 |
Dividend yield |  |  | — |  |  |  | — |  |  |  | — |
Volatility |  |  | 72.17 | % |  |  | 73.96 | % |  |  | 76.90 | %
Risk-free interest rate |  |  | 1.16 | % |  |  | 1.57 | % |  |  | 1.60 | %
Expected life of options |  | 6.00 years |  |  | 6.00 years |  |  | 6.00 years |
Weighted average grant date fair value |  | $ | 2.41 |  |  | $ | 2.52 |  |  | $ | 4.14 |
Fair Value of Employee Stock Purchase Plan | The fair value of ESPP shares was estimated at the purchase period commencement date using the following weighted average assumptions:
|  | Year Ended March 31, 2017 |
Dividend yield |  |  | — |
Volatility |  | 72.89 % - 74.70 % |
Risk-free interest rate |  | 0.47 % - 0.79 % |
Expected term |  | 6 months |
Grant date fair value |  | $ | 1.04 - 1.22 |
Summary of Company's Restricted Stock Award Activity | A summary of the Company’s restricted stock award activity for the year ended March 31, 2017 is as follows:
|  | Number of Shares |
Unvested at March 31, 2016 |  |  | 6,250 |
Granted |  |  | — |
Vested |  |  | (6,250 | )
Canceled / forfeited |  |  | — |
Unvested at March 31, 2017 |  |  | — |
Summary of Company's Restricted Stock Unit Activity | A summary of the Company’s restricted stock unit activity for the year ended March 31, 2017 is as follows:
|  | Number of Shares |  |  | Weighted Average Price |
Unvested at March 31, 2016 |  |  | — |  |  |  | — |
Granted |  |  | 1,309,656 |  |  | $ | 3.59 |
Vested |  |  | (106,650 | ) |  | $ | 3.86 |
Canceled / forfeited |  |  | (24,892 | ) |  | $ | 3.21 |
Unvested at March 31, 2017 |  |  | 1,178,114 |  |  | $ | 3.57 |
Summary of Stock Option Activity | The following table summarizes stock option activity for the year ended March 31, 2017:
|  | Options Outstanding |  |  | Weighted- Average Exercise Price |  |  | Aggregate Intrinsic Value |
Outstanding at March 31, 2016 |  |  | 9,614,627 |  |  | $ | 4.79 |  |  | $ | 1,927,137 |
Options granted |  |  | 1,955,016 |  |  | $ | 3.79 |  |  | $ | — |
Options canceled |  |  | (368,171 | ) |  | $ | 5.64 |  |  | $ | — |
Options exercised |  |  | (245,271 | ) |  | $ | 2.38 |  |  | $ | 356,616 |
Outstanding at March 31, 2017 |  |  | 10,956,201 |  |  | $ | 4.63 |  |  | $ | 4,876,437 |
Vested and Exercisable at March 31, 2017 |  |  | 7,054,815 |  |  | $ | 4.64 |  |  | $ | 4,380,611 |
Summary of Warrant Activity | The following table summarizes warrant activity for the years ended March 31, 2017:
|  | Warrants |  |  | Weighted-Average Exercise Price |
Balance at March 31, 2016 |  |  | 1,046,813 |  |  | $ | 2.29 |
Granted |  |  | — |  |  |  | — |
Expired / Canceled |  |  | (3,350 | ) |  | $ | 1.00 |
Exercised |  |  | (822,093 | ) |  | $ | 0.98 |
Balance at March 31, 2017 |  |  | 221,370 |  |  | $ | 7.16 |
Common Stock Reserved for Future Issuance | Common stock reserved for future issuance consisted of the following at March 31, 2017:
Common stock warrants outstanding |  |  | 221,370 |
Common stock options outstanding under the 2008 Plan |  |  | 622,192 |
Common stock options outstanding and reserved under the 2012 Plan |  |  | 13,951,395 |
Restricted stock units outstanding under the 2012 Plan |  |  | 1,178,114 |
Common stock reserved under the 2016 Employee Stock Purchase Plan |  |  | 1,447,443 |
Total |  |  | 17,420,514 |

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- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- 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
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 + Details
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