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Stockholders' Equity (Tables) | 9 Months Ended
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Dec. 31, 2024
Class Of Stock [Line Items] |
Summary of Stock Option Activity | The following table summarizes the Company’s stock option activity from March 31, 2024 to December 31, 2024:
|  | Options Outstanding |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value |
Outstanding at March 31, 2024 |  |  | 698,007 |  |  | $ | 4.26 |  |  | $ | — |
Options granted |  |  | 1,154,172 |  |  | $ | 0.59 |  |  | $ | — |
Options cancelled / forfeited |  |  | (76,404 | ) |  | $ | 1.82 |  |  | $ | — |
Options expired |  |  | (6,072 | ) |  | $ | 5.14 |  |  | $ | — |
Outstanding at December 31, 2024 |  |  | 1,769,703 |  |  | $ | 1.97 |  |  | $ | — |
Vested and Exercisable at December 31, 2024 |  |  | 511,668 |  |  | $ | 4.91 |  |  | $ | — |
Common Stock Reserved for Future Issuance | Common stock reserved for future issuance consisted of the following at December 31, 2024:
Common stock issuable pursuant to options outstanding and reserved under the 2012 Plan |  |  | 415,553 |
Common stock reserved under the 2012 Plan |  |  | — |
Common stock issuable pursuant to options outstanding and reserved under the A&R 2022 Plan |  |  | 1,304,150 |
Common stock reserved under the A&R 2022 Plan |  |  | 517,701 |
Common stock reserved under the 2023 ESPP |  |  | 44,500 |
Common stock reserved under the 2021 Inducement Equity Plan |  |  | 1,000 |
Common stock issuable pursuant to restricted stock units outstanding under the 2012 Plan |  |  | 1,250 |
Common stock issuable pursuant to restricted stock units outstanding under the A&R 2022 Plan |  |  | 117,642 |
Common stock issuable pursuant to options outstanding and reserved under the Inducement Plan |  |  | 50,000 |
Common stock issuable pursuant to outstanding pre-funded warrants |  |  | 1,034,000 |
Common stock issuable pursuant to outstanding common warrants |  |  | 6,562,500 |
Total at December 31, 2024 |  |  | 10,048,296 |
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, 2024 |  |  | December 31, 2023 |  |  | December 31, 2024 |  |  | December 31, 2023 |
Research and development |  | $ | 19 |  |  | $ | 40 |  |  | $ | 70 |  |  | $ | 87 |
General and administrative |  |  | 111 |  |  |  | 117 |  |  |  | 371 |  |  |  | 1,220 |
Total |  | $ | 130 |  |  | $ | 157 |  |  | $ | 441 |  |  | $ | 1,307 |
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, 2024 |  |  | December 31, 2023 |  |  | December 31, 2024 |  |  | December 31, 2023 |
Dividend yield |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Volatility |  |  | 100.83 | % |  |  | 100.31 | % |  |  | 99.38 | % |  |  | 98.93 | %
Risk-free interest rate |  |  | 4.32 | % |  |  | 4.66 | % |  |  | 3.75 | % |  |  | 4.12 | %
Expected life of options |  | 6 years |  |  | 6 years |  |  | 6 years |  |  | 6 years |
Weighted average grant date fair value |  | $ | 0.32 |  |  | $ | 1.16 |  |  | $ | 0.47 |  |  | $ | 1.38 |
Summary of Warrant Activity | The following table summarizes the Company’s Common Warrant activity from March 31, 2024 to December 31, 2024:
|  | Number of Warrants |  |  | Exercise Price |
Outstanding at March 31, 2024 |  |  | — |  |  | $ | — |
Issued |  |  | 6,562,500 |  |  | $ | 0.80 |
Exercised |  |  | — |  |  | $ | 0.80 |
Outstanding at December 31, 2024 |  |  | 6,562,500 |  |  | $ | 0.80 |
The following table summarizes the Company’s Pre-Funded Warrants activity from March 31, 2024 to December 31, 2024:
|  | Number of Warrants |  |  | Exercise Price |
Outstanding at March 31, 2024 |  |  | — |  |  | $ | — |
Issued |  |  | 5,000,000 |  |  | $ | 0.001 |
Exercised |  |  | (3,966,000 | ) |  | $ | 0.001 |
Outstanding at December 31, 2024 |  |  | 1,034,000 |  |  | $ | 0.001 |
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 nine months ended December 31, 2024:
|  | Number of Shares |  |  | Weighted Average Price |
Unvested at March 31, 2024 |  |  | 122,642 |  |  | $ | 1.75 |
Granted |  |  | 117,642 |  |  | $ | 0.55 |
Vested |  |  | (121,392 | ) |  | $ | 1.66 |
Cancelled / forfeited |  |  | — |  |  | $ | — |
Unvested at December 31, 2024 |  |  | 118,892 |  |  | $ | 0.65 |
ESPP Shares [Member] |
Class Of Stock [Line Items] |
Fair Value of Employee Stock Options | 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, 2024* |  |  | December 31, 2023* |  |  | December 31, 2024 |  |  | December 31, 2023* |
Dividend yield |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Volatility |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 95.20 | % |  |  | 0.00 | %
Risk-free interest rate |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 5.27 | % |  |  | 0.00 | %
Expected term |  |  | — |  |  |  | — |  |  | 6 months |  |  |  | — |
Grant date fair value |  | $ | — |  |  | $ | — |  |  | $ | 0.39 |  |  | $ | — |
*There were no participants in the ESPP for the purchase periods that commenced on March 1, 2023, September 1, 2023, or September 1, 2024.

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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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