License, Supply and Distribution Agreement	3 Months Ended
Jul. 31, 2025
License, Supply and Distribution Agreement [Abstract]
License, Supply and Distribution Agreement	8. License, Supply and Distribution Agreement Kaken Pharmaceutical Co., Ltd. (“Kaken”) In April 2025, the Company entered into a License, Supply and Distribution Agreement (the “Kaken Agreement”) with Kaken Pharmaceutical Co., Ltd. (“Kaken”) pursuant to which the Company licensed exclusive commercialization rights in Japan to Kaken for the Licensed Product (as defined under the Kaken Agreement) in exchange for a non-refundable upfront payment of $11.0 million, potential regulatory and sales milestone payments totaling approximately $13.0 million, and effective royalty payments in the mid-twenties that shall be payable for each unit of revenue of Licensed Product that the Company supplies, which reflect a percentage of the Japanese National Health Insurance price of the Licensed Product. The Kaken Agreement has a 10 year initial term. Per the terms of the Kaken Agreement, the Company is responsible for obtaining and maintaining all regulatory approvals, performing regulatory submissions for the Licensed Product in Japan and supplying the Licensed Product to Kaken. Kaken received an exclusive license to commercialize the Licensed Product in Japan, including the right to ship, store, and distribute the Licensed Product for such commercialization during the term of the Kaken Agreement. The Company retains manufacturing rights for the Licensed Product and is responsible for the Company’s own costs associated with the performance of activities under the Kaken Agreement. Under the terms of the Kaken Agreement, Kaken paid the Company a non-refundable upfront payment of $11.0 million on June 20, 2025. The obligations have not been met as of July 31, 2025, and as such, the $11.0 million non-refundable upfront payment has been recorded as deferred revenue. The potential regulatory and sales milestone payments that the Company is eligible to receive will be recorded if and when they become probable. Any future potential revenue from units sold to Kaken will be recorded in accordance with ASC 606, Revenue from Contracts with Customers.

License, Supply and Distribution Agreement

3 Months Ended

Jul. 31, 2025

License, Supply and Distribution Agreement [Abstract]

License, Supply and Distribution Agreement

8. License, Supply and Distribution Agreement

Kaken Pharmaceutical Co., Ltd. (“Kaken”)

In April 2025, the Company entered into a License, Supply and Distribution Agreement (the “Kaken Agreement”) with Kaken Pharmaceutical Co., Ltd. (“Kaken”) pursuant to which the Company licensed exclusive commercialization rights in Japan to Kaken for the Licensed Product (as defined under the Kaken Agreement) in exchange for a non-refundable upfront payment of $11.0 million, potential regulatory and sales milestone payments totaling approximately $13.0 million, and effective royalty payments in the mid-twenties that shall be payable for each unit of revenue of Licensed Product that the Company supplies, which reflect a percentage of the Japanese National Health Insurance price of the Licensed Product. The Kaken Agreement has a 10 year initial term.

Per the terms of the Kaken Agreement, the Company is responsible for obtaining and maintaining all regulatory approvals, performing regulatory submissions for the Licensed Product in Japan and supplying the Licensed Product to Kaken. Kaken received an exclusive license to commercialize the Licensed Product in Japan, including the right to ship, store, and distribute the Licensed Product for such commercialization during the term of the Kaken Agreement. The Company retains manufacturing rights for the Licensed Product and is responsible for the Company’s own costs associated with the performance of activities under the Kaken Agreement.

Under the terms of the Kaken Agreement, Kaken paid the Company a non-refundable upfront payment of $11.0 million on June 20, 2025. The obligations have not been met as of July 31, 2025, and as such, the $11.0 million non-refundable upfront payment has been recorded as deferred revenue.

The potential regulatory and sales milestone payments that the Company is eligible to receive will be recorded if and when they become probable.

Any future potential revenue from units sold to Kaken will be recorded in accordance with ASC 606, Revenue from Contracts with Customers.