v3.26.1
Stockholders’ Equity
 3 Months Ended
Jun. 30, 2026
Stockholders’ Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 4 – STOCKHOLDERS’ EQUITY

 

ATM Offering Programs

 

Leerink ATM Agreement

 

In November 2023, the Company entered into a Sales Agreement (the “Leerink ATM Agreement”) with Leerink Partners LLC (“Leerink”) under which the Company offered and sold, from time to time at its sole discretion, shares of its common stock, through an “at the market offering” program under which Leerink acted as sales agent or principal. On April 17, 2026, the Leerink ATM Agreement was terminated.

 

Maxim ATM Agreement

 

On April 23, 2026, the Company entered into a Sales Agreement (the “2026 ATM Agreement”) with Maxim Group LLC (“Maxim”) under which the Company may offer and sell, from time to time at its sole discretion, up to $100,000,000 of shares of its common stock through an “at the market offering” program under which Maxim will act as sales agent or principal. The 2026 ATM Agreement provides that Maxim will be entitled to compensation for its services equal to 3.0% of the gross proceeds from sales of any shares of common stock under the 2026 ATM Agreement. The Company has no obligation to sell any shares under the 2026 ATM Agreement and may, at any time, suspend solicitation and offers under the 2026 ATM Agreement.

 

April 2026 Registered Direct Offering

 

On April 19, 2026, the Company entered into a Placement Agency Agreement (the “Placement Agency Agreement”) with Maxim, relating to a registered direct offering (the “April Offering”) of 750,000 shares of the Company’s common stock, referred to as the “Shares.” The April Offering closed on April 21, 2026, and the gross proceeds to the Company from the April Offering were approximately $3.375 million, before deducting the placement agent fee and other offering expenses. Pursuant to the Placement Agency Agreement, the Company paid Maxim a cash fee equal to 7% of the gross proceeds received from the April Offering and reimbursed Maxim $75,000 for its expenses incurred in connection with the April Offering.

 

Warrants

 

As of June 30, 2026 and March 31, 2026, the Company had the following warrants outstanding (share amounts in thousands):

 

Type   Number of
Shares		     Exercise
Price		     Expiration
Common stock     2,270     $ 5.29     March 2031
Common stock     108       25.20     September 2030
Common stock     33       13.86     December 2030
Common stock     233       13.50     December 2030
Common stock     13       56.25     November 2029
Common stock     64       33.60     March 2029
Common stock     29       42.00     March 2029
Common stock     200       0.03     —
Common stock     16       39.60     May 2027
Common stock     56       36.60     May 2028
Common stock     133       198.00     February 2027
Common stock     48       198.00     November 2027
Common stock     26     $ 180.00     January 2027 - February 2027
Total     3,229              

 

Other

 

During the three months ended June 30, 2026, the Company issued 2,000 shares of common stock with a fair value of approximately $6,900 to a service provider.