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Stockholders' Equity (Tables)

9 Months Ended

Dec. 31, 2018

Class Of Stock [Line Items]

Schedule of Stock-based Compensation Expense

Stock-based compensation expense for all stock-based awards consists of the following (in thousands):

		Three Months Ended				Three Months Ended				Nine Months Ended				Nine Months Ended
		December 31, 2018				December 31, 2017				December 31, 2018				December 31, 2017
Research and development		$	249			$	210			$	679			$	925
General and administrative		$	1,109			$	1,040			$	3,232			$	4,675
Total		$	1,358			$	1,250			$	3,911			$	5,600

Fair Value of Employee Stock Options

The fair value of stock options was estimated at the grant date using the following weighted average assumptions:

		Three Months Ended				Three Months Ended				Nine Months Ended				Nine Months Ended
		December 31, 2018				December 31, 2017				December 31, 2018				December 31, 2017
Dividend yield			—				—				—				—
Volatility			73.07	%			80.71	%			72.99	%			76.86	%
Risk-free interest rate			2.79	%			2.15	%			2.75	%			1.81	%
Expected life of options		6 years				6 years				6 years				6 years
Weighted average grant    date fair value		$	0.67			$	1.04			$	0.84			$	1.73

Fair Value of Employee Stock Purchase Plan

The fair value of ESPP shares was estimated at the purchase period commencement date using the following assumptions:

		Three Months Ended				Three Months Ended				Nine Months Ended				Nine Months Ended
		December 31, 2018				December 31, 2017				December 31, 2018				December 31, 2017
Dividend yield			—				—				—				—
Volatility			80.23	%			43.03	%		61.35-80.23%				43.03 - 74.70%
Risk-free interest rate			2.29	%			1.10	%		1.85-2.29%				0.79 - 1.10%
Expected term		6 months				6 months				6 months				6 months
Grant date fair value		$	0.45			$	0.52			$0.30 - $0.45				$0.52 - $1.04

Summary of Stock Option Activity

A summary of the Company’s stock option activity from March 31, 2018 to December 31, 2018 is as follows:

		Options Outstanding				Weighted Average Exercise Price				Aggregate Intrinsic Value
Outstanding at March 31, 2018			10,132,312			$	4.01			$	591,082
Options granted			8,024,194			$	1.29			$	—
Options cancelled / forfeited			(4,496,763	)		$	4.21			$	—
Options exercised			(622,192	)		$	0.08			$	561,591
Outstanding at December 31, 2018			13,037,551			$	2.45			$	—
Vested and Exercisable at December 31, 2018			4,481,218			$	4.06			$	—

Summary of Warrant Activity

The following table summarizes warrant activity for the nine months ended December 31, 2018:

		Warrants				Weighted Average Exercise Price
Balance at March 31, 2018			220,000			$	7.19
Granted			—			$	—
Exercised			—			$	—
Cancelled			(75,000	)		$	7.36
Balance at December 31, 2018			145,000			$	7.11

Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consisted of the following at December 31, 2018:

Common stock warrants outstanding			145,000
Common stock options outstanding and reserved under the 2012 Plan			9,974,645
Common stock reserved under the 2012 Plan			12,452,052
Common stock reserved under the 2016 Employee Stock Purchase Plan			1,230,735
Restricted stock units outstanding under the 2012 Plan			2,105,414
Common stock options outstanding and reserved under the Incentive    Award Agreement			3,062,906
Restricted stock units outstanding under the Incentive Award Agreement			160,714
Performance-based restricted stock units outstanding under the Incentive Award    Agreement			158,706
Total at December 31, 2018			29,290,172

Restricted stock units (RSUs) [Member]

Class Of Stock [Line Items]

Summary of Company's Restricted Stock Unit Activity and Performance Based Restricted Stock Unit Activity

A summary of the Company’s restricted stock unit (not including performance-based restricted stock units) activity from March 31, 2018 through December 31, 2018 is as follows:

		Number of Shares				Weighted Average Price
Unvested at March 31, 2018			2,035,345			$	2.89
Granted			1,906,402			$	1.18
Vested			(595,163	)		$	2.48
Cancelled / forfeited			(1,080,456	)		$	2.35
Unvested at December 31, 2018			2,266,128			$	1.82

Performance-Based Restricted Stock Units [Member]

Class Of Stock [Line Items]

Summary of Company's Restricted Stock Unit Activity and Performance Based Restricted Stock Unit Activity

A summary of the Company’s performance-based restricted stock unit activity from March 31, 2018 through December 31, 2018 is as follows:

		Number of Shares				Weighted Average Price
Unvested at March 31, 2018			200,470			$	1.88
Granted			—			$	—
Vested			(41,764	)		$	1.88
Cancelled / forfeited			—			$	—
Unvested at December 12, 2018			158,706			$	1.88
Impact of modification			—			$	(0.74	)
Unvested at December 31, 2018			158,706			$	1.04

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