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Business Segment Information (Tables)
9 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Summary of Segment Revenues Segment revenues consisted 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

 

 

R&D

 

 

 

 

 

 

 

 

 

 

 

 

Royalty revenue

$

15

 

 

$

5

 

 

$

68

 

 

$

80

 

 

Mosaic

 

 

 

 

 

 

 

 

 

 

 

 

Product revenue

 

9

 

 

 

 

 

 

25

 

 

 

 

 

Total segment revenue

$

24

 

 

$

5

 

 

$

93

 

 

$

80

 

 

Total Company revenue

$

24

 

 

$

5

 

 

$

93

 

 

$

80

 

 

Summary of Operating Segment Costs and Expenses

Operating segment costs and expenses consisted 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

 

 

R&D

 

 

 

 

 

 

 

 

 

 

 

 

     Research and development expenses

$

899

 

 

$

1,434

 

 

$

3,010

 

 

$

4,435

 

 

Mosaic

 

 

 

 

 

 

 

 

 

 

 

 

     Cost of revenues

 

2

 

 

 

 

 

 

5

 

 

 

 

 

     Research and development expenses

 

881

 

 

 

 

 

 

1,156

 

 

 

 

 

     Selling, general, and administrative expenses

 

43

 

 

 

 

 

 

178

 

 

 

 

 

Total segment costs and expenses

$

1,825

 

 

$

1,434

 

 

$

4,349

 

 

$

4,435

 

 

Other selling, general, and administrative expenses

 

1,667

 

 

 

2,251

 

 

 

5,206

 

 

 

7,635

 

 

Total Company costs and expenses

$

3,492

 

 

$

3,685

 

 

$

9,555

 

 

$

12,070

 

 

Summary of Operating Segment Assets Operating segment assets consisted of the following (in thousands):

 

 

December 31, 2024

 

 

March 31, 2024

 

R&D

 

 

 

 

 

Fixed assets, net

$

448

 

 

$

423

 

Mosaic

 

 

 

 

 

Fixed assets, net

 

 

 

 

183

 

Inventory

 

 

 

 

297

 

Total segment assets

$

448

 

 

$

903

 

Other Company assets

 

3,396

 

 

 

5,446

 

Total Company assets

$

3,844

 

 

$

6,349