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 $ (9,568) $ (12,853)
Adjustments:    
Depreciation expense 7 11
Gain on sale of equipment 0 (59)
Loss on disposal 2 39
Stock-based compensation 730 913
Change in fair value of derivative warrant liabilities (3,218) 2,728
Deferred income tax benefit (3,199) (1,832)
Changes in operating assets and liabilities:    
Receivables 596 80
Prepaid expenses (170) 315
Trade and other payables (84) (1,652)
Operating lease right of use asset 0 (23)
Net cash used in operating activities (14,904) (12,333)
Cash flows from investing activities:    
Maturity of short-term investments 15 6,569
Purchase of short-term investments (15) (6,554)
Purchase of equipment 0 (22)
Sale of equipment 0 111
Net cash provided by investing activities 0 104
Cash flows from financing activities:    
Gross proceeds from issuance of common stock and warrants from private placement 14,999 7,500
Stock issuance costs (967) (162)
Proceeds from issuance of common stock from exercise of stock options 0 21
Net cash provided by financing activities 14,032 7,359
Net decrease in cash and cash equivalents (872) (4,870)
Cash and cash equivalents, beginning of year 23,005 27,875
Cash and cash equivalents, end of year 22,133 23,005
Cash and cash equivalents are comprised of:    
Cash 830 3,280
Cash equivalents 21,303 $ 19,725
Supplemental schedule of non-cash financing activities are comprised of:    
Issuance costs in accounts payable $ 327