v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (51,418) $ (29,362)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 150 127
Loss on disposal of fixed assets 0 6
Stock-based compensation 4,315 2,182
Amortization of operating lease right-of-use asset 485 441
Accretion of marketable securities (389) 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (88) 250
Other assets 190 0
Operating lease liability (611) (495)
Deferred sublicense revenue, net of deferred contract acquisition costs (412) 516
Accounts payable and accrued expenses 5,681 522
Net cash used in operating activities (42,097) (25,813)
Cash flows from investing activities:    
Purchases of laboratory and other equipment (191) (61)
Sales and maturities of marketable securities 12,027 0
Purchases of marketable securities (24,984) 0
Net cash used in investing activities (13,148) (61)
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of issuance costs 0 93,453
Repayment of note payable 0 (985)
Net cash provided by financing activities 3,210 128,402
Net increase (decrease) in cash and cash equivalents (52,035) 102,528
Cash and cash equivalents at beginning of period 119,166 16,638
Cash and cash equivalents at end of period 67,131 119,166
Non-cash investing and financing activities:    
Insurance premiums settled by issuing note payable 0 879
Purchases of equipment included in accounts payable 0 29
ATM Facility    
Cash flows from financing activities:    
Proceeds from issuance of common stock 3,009 35,926
Equity Line    
Cash flows from financing activities:    
Proceeds from issuance of common stock $ 201 $ 8