v3.25.2
Stockholders' equity (Tables)
 3 Months Ended
Jun. 30, 2025
Stockholders’ equity [Abstract]  
Summary of Company’s outstanding warrants exercisable for shares of Common Stock
The following table summarizes the Company’s outstanding warrants as at June 30, 2025, all of which are exercisable for shares of Common Stock:
 
June 30, 2025
 
    No. of
warrants 		     Exercise
Price ($) 		     Expiration
Date 		 
Liability classified warrants (Derivative Warrant Liabilities)
             
Common warrants issued in connection with 2023 Private Placement (2023 Common Warrants)
 2,536,391    3.003    1 
               
Equity classified warrants
             
Pre-funded warrants issued in connection with 2023 Private Placement (2023 Pre-Funded Warrants)
 1,065,002    0.0001     No expiration  
Common warrants issued in connection with 2025 Private Placement (2025 Common Warrants)
 4,418,292    3.395    2 
Pre-funded warrants issued in connection with 2025 Private Placement (2025 Pre-Funded Warrants)
 1,030,958    0.0001     No expiration  
 
1.
The 2023 Common Warrants will expire on the earlier of (i) the 60th day after the date of the acceptance by the FDA of an NDA for the Company’s product candidate GTx-104 or (ii) September 25, 2028.
 
2.
The 2025 Common Warrants will expire on the earlier of: (i) the 60th day after the date the FDA approves the NDA for GTx-104 or (ii) September 25, 2028.
 
Derivative Warrant Liabilities Measured at Fair Value and Reconciliation of Changes in Fair Value
The derivative warrant liabilities are measured at fair value at each reporting period and the reconciliation of changes in fair value is presented in the following table:
 
 Three months ended  
   June 30, 2025   June 30, 2024 
    $    $ 
Beginning balance
  1,141   4,359 
Issued during the year
   —     —  
Change in fair value
  
487
   
(1,395
) 
Ending balance
  1,628   2,964 
Fair Value Assumptions
The warrant liability was determined based on the fair value of 2023 Common Warrants at the issue date and the reporting dates using the Black-Scholes model with the following weighted-average assumptions will expire on the earlier of (i) the 60th day after the date of the acceptance by the FDA of an NDA for the Company's product candidate GTx-104 and (ii) five years from the date on issuance.
        
   
June 30, 2025
    
March 31, 2025
 
Risk-free interest rate
  4.22%   4.18%
Share price
 $2.97   $2.28 
Expected warrant life
  0.90    1.14 
Dividend yield
  0%   0%
Expected volatility
  66.72%   74.26%