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v3.25.1

Stockholders' Equity (Tables) | 12 Months Ended
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Mar. 31, 2025
Class Of Stock [Line Items] |
Summary of Stock Option Activity | The following table summarizes stock option activity for the year ended March 31, 2025:
|  | Options Outstanding |  |  | Weighted- Average Exercise Price |  |  | Aggregate Intrinsic Value |
Outstanding at March 31, 2024 |  |  | 58,140 |  |  | $ | 51.14 |  |  | $ | — |
Options granted |  |  | 96,169 |  |  | $ | 7.11 |  |  | $ | — |
Options canceled |  |  | (12,912 | ) |  | $ | 35.08 |  |  | $ | — |
Outstanding at March 31, 2025 |  |  | 141,397 |  |  | $ | 22.66 |  |  | $ | — |
Vested and Exercisable at March 31, 2025 |  |  | 40,292 |  |  | $ | 57.61 |  |  | $ | — |
Common Stock Reserved for Future Issuance | Common stock reserved for future issuance consisted of the following at March 31, 2025:
Common stock issuable pursuant to options outstanding and reserved under the 2012 Plan |  |  | 31,292 |
Common stock reserved under the 2012 Plan |  |  | — |
Common stock issuable pursuant to options outstanding and reserved under the A&R 2022 Plan |  |  | 105,939 |
Common stock reserved under the A&R 2022 Plan |  |  | 198,774 |
Common stock reserved under the ESPP |  |  | 3,708 |
Common stock reserved under the 2021 Inducement Equity Plan |  |  | 83 |
Common stock issuable pursuant to restricted stock units outstanding under the 2012 Plan |  |  | — |
Common stock issuable pursuant to restricted stock units outstanding under the A&R 2022 Plan |  |  | 8,165 |
Common stock issuable pursuant to options outstanding and reserved under the Inducement Plan |  |  | 4,166 |
Common stock issuable pursuant to outstanding Pre-Funded Warrants |  |  | — |
Common stock issuable pursuant to outstanding Common Warrants |  |  | 539,060 |
Total at March 31, 2025 |  |  | 891,187 |
Schedule of Stock-based Compensation Expense | Stock-based compensation expense for all stock-based awards consists of the following (in thousands):
|  | Year Ended March 31, 2025 |  |  | Year Ended March 31, 2024 |
Research and development |  | $ | 86 |  |  | $ | 138 |
General and administrative |  |  | 446 |  |  |  | 1,370 |
Total |  | $ | 532 |  |  | $ | 1,508 |
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, 2025 |  |  | Year Ended March 31, 2024 |
Dividend yield |  |  | — |  |  |  | — |
Volatility |  |  | 99.38 | % |  |  | 99.04 | %
Risk-free interest rate |  |  | 3.75 | % |  |  | 4.11 | %
Expected life of options |  | 5.75 years |  |  | 6 years |
Weighted average grant date fair value |  | $ | 5.67 |  |  | $ | 1.34 |
Summary of Warrant Activity | The following table summarizes the Company’s Common Warrant activity from March 31, 2024 to March 31, 2025:
|  | Number of Warrants |  | Exercise Price
Outstanding at March 31, 2024 |  | — |  | —
Issued |  | 546,870 |  | $9.60
Exercised |  | (7,810) |  | $9.60
Outstanding at March 31, 2025 |  | 539,060 |  | $9.60
The following table summarizes the Company’s Pre-Funded Warrants activity from March 31, 2024 to March 31, 2025:
|  | Number of Warrants |  |  | Exercise Price |
Outstanding at March 31, 2024 |  |  | — |  |  |  | — |
Issued |  |  | 416,666 |  |  | $ | 0.001 |
Exercised |  |  | (416,666 | ) |  | $ | 0.001 |
Outstanding at March 31, 2025 |  |  | — |  |  |  | — |
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 year ended March 31, 2025:
|  | Number of Shares |  |  | Weighted Average Price |
Unvested at March 31, 2024 |  |  | 10,214 |  |  | $ | 21.02 |
Granted |  |  | 9,798 |  |  | $ | 6.57 |
Vested |  |  | (10,214 | ) |  | $ | 21.02 |
Cancelled / forfeited |  |  | (1,633 | ) |  | $ | 6.57 |
Unvested at March 31, 2025 |  |  | 8,165 |  |  | $ | 6.57 |
ESPP Shares [Member] |
Class Of Stock [Line Items] |
Fair Value of Employee Stock Options | The fair value of the ESPP shares was estimated at the purchase period commencement date using the following assumptions:
|  | Year Ended March 31, 2025 |  |  | Year Ended March 31, 2024 |
Dividend yield |  |  | — |  |  |  | — |
Volatility |  |  | 95.20 | % |  |  | 95.20 | %
Risk-free interest rate |  |  | 5.27 | % |  |  | 5.27 | %
Expected term |  | 6 months |  |  | 6 months |
Grant date fair value |  | $ | 0.39 |  |  | $ | 0.39 |

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