Stockholders' equity (Tables)

12 Months Ended

Mar. 31, 2026

Summary of Company's Outstanding Warrants Exercisable for Shares of Common Stock

The following table summarizes the Company’s outstanding warrants as of March 31, 2026, all of which are exercisable for shares of Common Stock:


March 31, 2026
	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)	—	3.003	(1	)

Equity classified warrants
Pre-funded warrants issued in connection with 2023 Private Placement (2023 Pre-Funded Warrants)	338,252	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)	907,708	0.0001	No expiration

1. Following the exercise of 1,345,464 2023 Common Warrants in October 2025, the remaining 1,190,927 2023 Common Warrants expired on October 21, 2025, which was the 60th day after the date of the acceptance by the FDA of the NDA for the Company’s product candidate GTx-104.

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 and (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:


	Year ended		Year ended
	March 31, 2026		March 31, 2025
	$		$
Beginning balance	1,141		4,359
Issued during the year	—		—
Change in fair value	(900	)	(3,218	)
Settlement of liability	(241	)
Ending balance	—		1,141

Fair Value Assumptions

The warrant liability was determined based on the fair value of the 2023 Common Warrants at the issue date and the reporting dates using the Black-Scholes model with the following assumptions. The 2023 Common Warrants expired on October 21, 2025, which was the 60th day after the date of the acceptance by the FDA of the NDA for the Company's product candidate GTx-104, which resulted in a $241 settlement of the derivative warrant liability on the Company’s consolidated balance sheet as of March 31, 2026. The settlement fair value of the warrant liability was determined using the Black-Scholes model with the following assumptions:


		October 21, 2025			March 31, 2025
Risk-free interest rate		4.2	%		4.2	%
Share price	$	3.22		$	2.28
Expected warrant life		0.0			1.14
Dividend yield		0	%		0	%
Expected volatility		60.08	%		74.26	%