v3.25.2
Stock-Based Compensation (Tables)
 12 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
A summary of our stock option activity for the year ended March 31, 2025 is as follows (in thousands, except share and per share data and years):
OptionsWeighted-Average
Exercise
Price		Weighted-Average Remaining Contractual Term (Years)Aggregate Intrinsic Value
Outstanding at March 31, 2024815,357$33.07 6.7$165 
Granted2,493,700$3.59 
Exercised— $— 
Forfeited(69,415)$36.09 
Expired—$— 
Outstanding at March 31, 20253,239,642$10.32 8.4$8 
Exercisable at March 31, 20251,370,909$19.26 7.4$8 
Vested and expected to vest as of March 31, 20253,239,642 $10.32 8.4$8 
Schedule of Fair Value of Stock Options Assumptions
The fair value of stock options granted was estimated using the following assumptions:
 Year Ended March 31,
20252024
 Risk-free interest rate
 3.5% - 4.5%
 3.9% - 4.6%
 Expected term (years)
 5.07 - 6.14
 2.53 - 6.08
 Expected stock price volatility
 162.4% - 176.2%
 129.0% - 176.6%
 Dividend yield ——
Schedule of Stock-Based Compensation Expense Recognized
Stock-based compensation expense recognized for all equity awards has been included in the consolidated statements of operations and comprehensive loss as follows (in thousands):
Year Ended March 31,
20252024
Research and development expense$2,377 $1,174 
General and administrative expense1,938 1,008 
Total stock-based compensation expense$4,315 $2,182