Pay vs Performance Disclosure - USD ($)
$ in Thousands |
9 Months Ended |
12 Months Ended |
Dec. 31, 2025 |
Mar. 31, 2025 |
Mar. 31, 2024 |
| Pay vs Performance Disclosure |
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| Pay vs Performance Disclosure, Table |
Pay Versus Performance
Table
(in thousands)
Included in the table below is the compensation
paid to our executives and the Company’s financial performance for each of the periods presented, including the transition period
ended December 31, 2025, and the fiscal years ended March 31, 2025, and 2024.
| Year | | Summary
Compensation
Table
Total for
PEO(1) | | | Compensation
Actually
Paid to
PEO(3) | | | Average
Summary
Compensation
Table
Total for
Non-PEO
NEOs
Officer(2) | | | Average
Compensation
Actually
Paid to
Non-PEO
NEOs(3) | | | Value of
Initial
Fixed $100
Investment
Based On:
Total
Shareholder
Return(4) | | | Net Income
(Loss) | | | (a) | | (b) | | | (c) | | | (d) | | | (e) | | | (f) | | | (g) | | | Transition Period ended December 31, 2025 | | $ | 1,891 | | | $ | 1,621 | | | $ | 706 | | | $ | 616 | | | $ | 82 | | | $ | (4,146 | ) | | April-March 2025 | | $ | 568 | | | $ | (203 | ) | | $ | 259 | | | $ | 78 | | | $ | 82 | | | $ | (7,121 | ) | | April-March 2024 | | $ | 1,821 | | | $ | 2,699 | | | $ | 717 | | | $ | 979 | | | $ | 118 | | | $ | (13,000 | ) |
| (1) | For each of the periods presented, including the transition
period ended December 31, 2025, and the fiscal years ended March 31, 2025, and 2024, this is the total compensation, as disclosed in
the Summary Compensation Table above, for Mr. Ram Mukunda, our Principal Executive Officer (“PEO”). |
| (2) | For each of the periods presented, including the transition
period ended December 31, 2025, and the fiscal years ended March 31, 2025, and 2024, this is the total compensation, as disclosed in
the Summary Compensation Table above, for Ms. Claudia Grimaldi, our non-PEO NEO. |
| (3) | Compensation Actually Paid is the Summary Compensation Table
total for the PEO (column (b) above) and Summary Compensation Table total for the Non-PEO (column (d) above), as applicable, with the
adjustments pursuant to Item 402(v)(2)(iii)(C) of Regulations S-K. |
| (4) | The Total Shareholder Return reflected in this column for each
applicable fiscal year is calculated based on a fixed investment of $100 through the end of the applicable fiscal year on the same cumulative
basis. |
| | | Nine months ended
December 31,
2025 | | | Twelve months ended
March 31,
2025 | | | Twelve months ended
March 31,
2024 | | | Nine months ended
December 31,
2025 | | | Twelve months ended
March 31,
2025 | | | Twelve months ended
March 31,
2024 | | | (in thousands) | | PEO | | | PEO | | | PEO | | | Non-PEO | | | Non-PEO | | | Non-PEO | | | SCT Total Compensation | | $ | 1,891 | | | | 568 | | | | 1,821 | | | | 706 | | | | 259 | | | | 717 | | | Subtract: Grant date fair value of equity awards granted during the covered year | | $ | (1,530 | ) | | | - | | | | (1,066 | ) | | | (510 | ) | | | - | | | | (370 | ) | | Add: Fair value as of the end of the covered fiscal year of all awards granted during the covered fiscal year that were outstanding and unvested as of the end of the fiscal covered year; | | $ | 1,260 | | | | - | | | | 1,517 | | | | 420 | | | | - | | | | 535 | | | Add: Change in fair value from the end of the prior fiscal year to the end of the covered fiscal year for awards granted in any prior fiscal year that were outstanding and unvested as of the end of the covered fiscal year | | $ | - | | | | (663 | ) | | | 158 | | | | - | | | | (148 | ) | | | 10 | | | Add: Fair value as of the vesting date of awards that were granted and vested in the same year | | $ | - | | | | - | | | | 234 | | | | - | | | | - | | | | 78 | | | Add: Change in fair value from the end of the prior fiscal year to the vesting date of awards granted in any prior fiscal year that vested in the covered fiscal year | | $ | - | | | | (108 | ) | | | 34 | | | | - | | | | (33 | ) | | | 8 | | | Subtract: Fair value at the end of the prior fiscal year of awards granted in any prior fiscal year that failed to vest (forfeited) in the covered fiscal year | | $ | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | Add: Dollar amount of dividends or other earnings paid on equity awards in the covered fiscal year prior to the vesting date that are not included in total compensation for the covered fiscal year | | $ | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | Compensation Actually Paid | | $ | 1,621 | | | | (203 | ) | | | 2,699 | | | | 616 | | | | 78 | | | | 979 | |
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| Named Executive Officers, Footnote |
| (1) | For each of the periods presented, including the transition
period ended December 31, 2025, and the fiscal years ended March 31, 2025, and 2024, this is the total compensation, as disclosed in
the Summary Compensation Table above, for Mr. Ram Mukunda, our Principal Executive Officer (“PEO”). |
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| PEO Total Compensation Amount |
$ 1,891
|
$ 568
|
$ 1,821
|
| PEO Actually Paid Compensation Amount |
$ 1,621
|
(203)
|
2,699
|
| Adjustment To PEO Compensation, Footnote |
| | | Nine months ended
December 31,
2025 | | | Twelve months ended
March 31,
2025 | | | Twelve months ended
March 31,
2024 | | | Nine months ended
December 31,
2025 | | | Twelve months ended
March 31,
2025 | | | Twelve months ended
March 31,
2024 | | | (in thousands) | | PEO | | | PEO | | | PEO | | | Non-PEO | | | Non-PEO | | | Non-PEO | | | SCT Total Compensation | | $ | 1,891 | | | | 568 | | | | 1,821 | | | | 706 | | | | 259 | | | | 717 | | | Subtract: Grant date fair value of equity awards granted during the covered year | | $ | (1,530 | ) | | | - | | | | (1,066 | ) | | | (510 | ) | | | - | | | | (370 | ) | | Add: Fair value as of the end of the covered fiscal year of all awards granted during the covered fiscal year that were outstanding and unvested as of the end of the fiscal covered year; | | $ | 1,260 | | | | - | | | | 1,517 | | | | 420 | | | | - | | | | 535 | | | Add: Change in fair value from the end of the prior fiscal year to the end of the covered fiscal year for awards granted in any prior fiscal year that were outstanding and unvested as of the end of the covered fiscal year | | $ | - | | | | (663 | ) | | | 158 | | | | - | | | | (148 | ) | | | 10 | | | Add: Fair value as of the vesting date of awards that were granted and vested in the same year | | $ | - | | | | - | | | | 234 | | | | - | | | | - | | | | 78 | | | Add: Change in fair value from the end of the prior fiscal year to the vesting date of awards granted in any prior fiscal year that vested in the covered fiscal year | | $ | - | | | | (108 | ) | | | 34 | | | | - | | | | (33 | ) | | | 8 | | | Subtract: Fair value at the end of the prior fiscal year of awards granted in any prior fiscal year that failed to vest (forfeited) in the covered fiscal year | | $ | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | Add: Dollar amount of dividends or other earnings paid on equity awards in the covered fiscal year prior to the vesting date that are not included in total compensation for the covered fiscal year | | $ | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | Compensation Actually Paid | | $ | 1,621 | | | | (203 | ) | | | 2,699 | | | | 616 | | | | 78 | | | | 979 | |
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| Non-PEO NEO Average Total Compensation Amount |
$ 706
|
259
|
717
|
| Non-PEO NEO Average Compensation Actually Paid Amount |
$ 616
|
78
|
979
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| Adjustment to Non-PEO NEO Compensation Footnote |
| | | Nine months ended
December 31,
2025 | | | Twelve months ended
March 31,
2025 | | | Twelve months ended
March 31,
2024 | | | Nine months ended
December 31,
2025 | | | Twelve months ended
March 31,
2025 | | | Twelve months ended
March 31,
2024 | | | (in thousands) | | PEO | | | PEO | | | PEO | | | Non-PEO | | | Non-PEO | | | Non-PEO | | | SCT Total Compensation | | $ | 1,891 | | | | 568 | | | | 1,821 | | | | 706 | | | | 259 | | | | 717 | | | Subtract: Grant date fair value of equity awards granted during the covered year | | $ | (1,530 | ) | | | - | | | | (1,066 | ) | | | (510 | ) | | | - | | | | (370 | ) | | Add: Fair value as of the end of the covered fiscal year of all awards granted during the covered fiscal year that were outstanding and unvested as of the end of the fiscal covered year; | | $ | 1,260 | | | | - | | | | 1,517 | | | | 420 | | | | - | | | | 535 | | | Add: Change in fair value from the end of the prior fiscal year to the end of the covered fiscal year for awards granted in any prior fiscal year that were outstanding and unvested as of the end of the covered fiscal year | | $ | - | | | | (663 | ) | | | 158 | | | | - | | | | (148 | ) | | | 10 | | | Add: Fair value as of the vesting date of awards that were granted and vested in the same year | | $ | - | | | | - | | | | 234 | | | | - | | | | - | | | | 78 | | | Add: Change in fair value from the end of the prior fiscal year to the vesting date of awards granted in any prior fiscal year that vested in the covered fiscal year | | $ | - | | | | (108 | ) | | | 34 | | | | - | | | | (33 | ) | | | 8 | | | Subtract: Fair value at the end of the prior fiscal year of awards granted in any prior fiscal year that failed to vest (forfeited) in the covered fiscal year | | $ | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | Add: Dollar amount of dividends or other earnings paid on equity awards in the covered fiscal year prior to the vesting date that are not included in total compensation for the covered fiscal year | | $ | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | Compensation Actually Paid | | $ | 1,621 | | | | (203 | ) | | | 2,699 | | | | 616 | | | | 78 | | | | 979 | |
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| Compensation Actually Paid vs. Total Shareholder Return |
Relationship Between Compensation Actually Paid and Company
Total Shareholder Return
Because
a significant portion of executive compensation consists of equity awards, compensation actually paid is affected by changes in the market
value of the Company’s common stock. Accordingly, changes in total shareholder return may affect the compensation actually paid
reported above. The Compensation Committee does not use total shareholder return as the sole measure for determining executive compensation.
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| Total Shareholder Return Amount |
$ 82
|
82
|
118
|
| Net Income (Loss) |
$ (4,146)
|
$ (7,121)
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$ (13,000)
|
| PEO Name |
Mr. Ram Mukunda
|
Mr. Ram Mukunda
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Mr. Ram Mukunda
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| Additional 402(v) Disclosure |
Compensation Actually Paid is the Summary Compensation Table
total for the PEO (column (b) above) and Summary Compensation Table total for the Non-PEO (column (d) above), as applicable, with the
adjustments pursuant to Item 402(v)(2)(iii)(C) of Regulations S-K.
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| Measure:: 1 |
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| Pay vs Performance Disclosure |
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| Compensation Actually Paid vs. Other Measure |
Relationship Between Compensation Actually Paid and Operational
Milestones
The Company
does not look to net income (loss) as a performance measure for its executive compensation program and instead looks at operational metrics,
such as drug development milestones, pipeline progress, R&D spend, regulatory compliance, intellectual property, partnerships, collaborations,
and general financial health of the Company.
Compensation
actually paid decreased from fiscal 2024 to fiscal 2025 while the Company’s net loss improved. For the nine-month transition period
ended December 31, 2025, compensation actually paid increased while net loss further improved. The Company does not use net income or
net loss as a direct measure in determining executive compensation, and changes in compensation actually paid primarily reflect changes
in the fair value of equity awards.
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| PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
$ (1,530)
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$ 0
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$ (1,066)
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| PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
1,260
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0
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1,517
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| PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
0
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(663)
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158
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| PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
0
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234
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| PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
0
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0
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0
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| PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
0
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0
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0
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| PEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
0
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(108)
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34
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| Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table |
|
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| Pay vs Performance Disclosure |
|
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| Adjustment to Compensation, Amount |
(510)
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0
|
(370)
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| Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
420
|
0
|
535
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| Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested |
|
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
0
|
(148)
|
10
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| Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
0
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0
|
78
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| Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year |
|
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
0
|
0
|
0
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| Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
0
|
0
|
0
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| Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
$ 0
|
$ (33)
|
$ 8
|