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Stockholders' Equity (Tables) | 3 Months Ended
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Jun. 30, 2023
Class Of Stock [Line Items] |
Summary of Stock Option Activity | The following table summarizes the Company’s stock option activity from March 31, 2023 to June 30, 2023:
|  | Options Outstanding |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value |
Outstanding at March 31, 2023 |  |  | 1,451,217 |  |  | $ | 6.49 |  |  | $ | 38,327 |
Options granted |  |  | 131,257 |  |  | $ | 1.81 |  |  | $ | — |
Options cancelled / forfeited |  |  | — |  |  | $ | — |  |  | $ | — |
Options exercised |  |  | — |  |  | $ | — |  |  | $ | — |
Outstanding at June 30, 2023 |  |  | 1,582,474 |  |  | $ | 6.10 |  |  | $ | 7,732 |
Vested and Exercisable at June 30, 2023 |  |  | 626,849 |  |  | $ | 6.95 |  |  | $ | 175 |
Common Stock Reserved for Future Issuance | Common stock reserved for future issuance consisted of the following at June 30, 2023:
Common stock issuable pursuant to options outstanding and reserved under the 2012 Plan |  |  | 1,345,664 |
Common stock reserved under the 2012 Plan |  |  | — |
Common stock issuable pursuant to options outstanding and reserved under the 2022 Plan |  |  | 186,810 |
Common stock reserved under the 2022 Plan |  |  | 940,214 |
Common stock reserved under the ESPP |  |  | 58,426 |
Common stock reserved under the 2021 Inducement Equity Plan |  |  | 1,000 |
Common stock issuable pursuant to restricted stock units outstanding under the 2012 Plan |  |  | 8,750 |
Common stock issuable pursuant to restricted stock units outstanding under the 2022 Plan |  |  | 117,642 |
Common stock issuable pursuant to options outstanding and reserved under the Inducement Plan |  |  | 50,000 |
Total at June 30, 2023 |  |  | 2,708,506 |
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 |  |
|  | June 30, 2023 |  |  | June 30, 2022 |  |
Research and development |  | $ | 107 |  |  | $ | 121 |  |
General and administrative |  |  | 368 |  |  |  | 539 |  |
Total |  | $ | 475 |  |  | $ | 660 |  |
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 |  |
|  | June 30, 2023 |  |  | June 30, 2022 |  |
Dividend yield |  |  | — |  |  |  | — |  |
Volatility |  |  | 98.51 | % |  |  | 94.50 | % |
Risk-free interest rate |  |  | 3.95 | % |  |  | 2.97 | % |
Expected life of options |  | 6.00 years |  |  | 6.00 years |  |
Weighted average grant date fair value |  | $ | 1.45 |  |  | $ | 2.25 |  |
Restricted stock units (RSUs) [Member] |
Class Of Stock [Line Items] |
Summary of Company's RSUs Activity | The following table summarizes the Company’s RSUs activity for the three months ended June 30, 2023:
|  | Number of Shares |  |  | Weighted Average Price |
Unvested at March 31, 2023 |  |  | 127,717 |  |  | $ | 2.22 |
Granted |  |  | — |  |  | $ | — |
Vested |  |  | (1,325 | ) |  | $ | 10.79 |
Cancelled / forfeited |  |  | — |  |  | $ | — |
Unvested at June 30, 2023 |  |  | 126,392 |  |  | $ | 2.15 |

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