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 $ (313,940) $ (247,297)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 32,272 35,044
Depreciation and amortization 3,332 3,502
Operating lease, right-of-use-asset amortization 771 683
Finance lease, right-of-use-asset amortization 2,428 2,428
Net amortization of premiums and discounts on short-term investments (2,545) (8,947)
Impairment on property, plant and equipment 188 0
Noncash interest expense 1,933 1,568
Unrealized foreign currency transaction gains (942) (201)
Changes in operating assets and liabilities:    
Research and development incentives receivable 451 1,303
Prepaid expenses and other current assets (232) (252)
Other non-current assets 0 (1,200)
Accounts payable (4,939) 9,941
Accrued expenses and other current liabilities 2,184 11,743
Operating lease liabilities (818) (720)
Other non-current liabilities (487) 155
Net cash used in operating activities (280,344) (192,250)
Cash flows from investing activities:    
Purchases of property, plant and equipment and software capitalization (4,223) (6,687)
Purchase of short-term investments (77,894) (403,586)
Proceeds from sales and maturities of short-term investments 392,960 386,477
Net cash provided by (used in) investing activities 310,843 (23,796)
Cash flows from financing activities:    
Proceeds from issuance of prefunded warrants to purchase common stock, net of underwriting fees and offering costs 0 97,000
Proceeds from long-term debt 35,000 0
Principal payment of finance lease obligation (736) (599)
Proceeds from exercise of stock options and pre-funded warrants 883 267
Net cash provided by financing activities 66,294 252,396
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,112 315
Net increase in cash, cash equivalents and restricted cash 97,905 36,665
Cash, cash equivalents and restricted cash at beginning of period 112,822 76,157
Cash, cash equivalents and restricted cash at end of period 210,727 112,822
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 4,688 4,198
Cash received (paid) for income taxes, net 5 (105)
Supplemental disclosure of non-cash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued expenses 80 171
Common stock    
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of offering costs 0 155,728
ATM Offering    
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of offering costs $ 31,147 $ 0