v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (69,685) $ (51,418)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 199 150
Loss on disposal of fixed assets 0 0
Stock-based compensation 3,997 4,315
Amortization of operating lease right-of-use asset 534 485
Accretion of marketable securities (543) (389)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 36 (88)
Other assets (46) 190
Operating lease liability (561) (611)
Deferred sublicense revenue, net of deferred contract acquisition costs (1,195) (412)
Accounts payable and accrued expenses 828 5,681
Net cash used in operating activities (66,436) (42,097)
Cash flows from investing activities:    
Purchases of laboratory and other equipment (151) (191)
Sales and maturities of marketable securities 21,575 12,027
Purchases of marketable securities (22,301) (24,984)
Net cash used in investing activities (877) (13,148)
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of issuance costs 8 0
Issuance of note payable for insurance policy 1,020 0
Repayment of note payable (925) 0
Net cash provided by financing activities 30,971 3,210
Net increase (decrease) in cash and cash equivalents (36,342) (52,035)
Cash and cash equivalents at beginning of period 67,131 119,166
Cash and cash equivalents at end of period 30,789 67,131
Supplemental disclosure of cash flow information:    
Cash paid for interest 33 0
ATM Facility    
Cash flows from financing activities:    
Proceeds from issuance of common stock 30,637 3,009
Equity Line    
Cash flows from financing activities:    
Proceeds from issuance of common stock $ 231 $ 201