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Pay vs Performance Disclosure - USD ($)
12 Months Ended
May 31, 2025
May 31, 2024
May 31, 2023
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

The following table presents information regarding our executive compensation pay relative to corporate performance of our principal executive officers (“PEOs”), and non-PEO named executive officers (“non-PEO NEOs”) for fiscal years 2025, 2024 and 2023.

Value

Average

Average

of Initial

Summary

Compensation

Fixed $100

Summary

Summary

Summary

Compensation

Actually

Investment

Compensation

Compensation

Compensation

Compensation

Compensation

Compensation

Table Total

Paid

Based

Table Total

Actually Paid

Table Total

Actually Paid

Table Total

Actually Paid

For

to

On Total

Net Income

For Jacob

To Jacob

For Antonio

To Antonio

For Cyrus

To Cyrus

Non-PEO

Non-PEO

Shareholder

(Loss)

Lalezari

Lalezari(4)

Migliarese

Migliarese(4)

Arman

Arman(4)

NEOs

NEOs

Return

(In Thousands)

Year

    

($)

    

($)

    

($)

    

($)

    

($)

    

($)

    

($)

    

($)

    

($)

    

($)

2025(1)

783,850

1,314,782

499,007

529,543

209.94

3,745

2024 (2)

685,366

636,594

483,241

(9,545)

387,587

185,833

397,114

376,750

61.53

(49,841)

2023(3)

1,757,283

1,587,129

1,528,411

915,401

1,365,675

1,431,753

81.25

(79,824)

(1)Dr. Lalezari served as the Company’s PEO for the 2025 fiscal year, and Mr. Blok, Mr. Cohen, and Mr. Hoffman were the Company’s non-PEO NEOs.
(2)Dr. Lalezari, Mr. Migliarese and Dr. Arman each served as the Company’s PEO for a portion of the 2024 fiscal year, and Mr. Blok and Mr. Cohen were the Company’s non-PEO NEOs.
(3)Mr. Migliarese and Dr. Arman each served as the Company’s PEO for a portion of the 2023 fiscal year, and Scott Kelly, M.D., and Nitya Ray, Ph.D., were the Company’s non-PEO NEOs.
(4)The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in the tables below.

Compensation Actually Paid reflects adjustments to the values of awards of stock options shown in the Summary Compensation Table for the 2025 fiscal year as set forth in the tables below.

    

    

    

    

Change in

    

    

    

Fair

Change in

Change in

Value of

Fair

Fair

Unvested

Value of

Value of

Equity

Equity

Unvested

Awards

Awards

Equity

that Vested

Deduction for Fair

Granted

Awards

During

Value of

during

From Prior

Year from

Dividends Paid

Awards Granted

Summary

Year that

Year-

Prior Year-

on Awards

in Prior Years

Compensation

Remained

End to

end to

During Year

that

Compensation

Table

Unvested at

Current

Vesting

Prior to

Were Forfeited

Actually

Total

Year-end

Year-end

Date

Vesting Date

During Year

Paid

PEO Year

($)

($)

($)

($)

($)

($)

($)

2025 – Jacob Lalezari

783,850

344,504

189,754

(3,326)

1,314,782

2024 – Jacob Lalezari

685,366

(48,772)

636,594

2024 – Antonio Migliarese

483,241

(27,661)

(465,125)

(9,545)

2024 – Cyrus Arman

387,587

(13,349)

(20,301)

(168,104)

185,833

2023 – Antonio Migliarese

1,757,283

(415,142)

(10,348)

255,336

1,587,129

2023 – Cyrus Arman

1,528,411

(613,010)

915,401

Average

Change in

Average

Fair

Change for

Average

Value of

Year-

Change in

Unvested

end Fair

Fair

Equity

Value of

Value of

Awards

Equity

Unvested

that

Awards

Equity

Vested

Average

Granted

Awards

During

Average

Deduction for Fair

Average

during

From

Year from

Dividends Paid

Value of

Summary

Year that

Prior

Prior

on Awards

Awards Granted

Average

Compensation

Remained

Year-End to

Year-end to

During Year

in Prior Years that

Compensation

Table

Unvested at

Current

Vesting

Prior to

Were Forfeited

Actually

NON-PEO

Total

Year-end

Year-end

Date

Vesting Date

During Year

Paid

NEOS YEAR

    

($)

    

($)

    

($)

    

($)

    

($)

    

($)

    

($)

2025

499,007

12,999

17,230

307

529,543

2024

397,114

(14,832)

(4,662)

(870)

376,750

2023

1,365,675

213,893

(147,815)

1,431,753

   
Named Executive Officers, Footnote
(1)Dr. Lalezari served as the Company’s PEO for the 2025 fiscal year, and Mr. Blok, Mr. Cohen, and Mr. Hoffman were the Company’s non-PEO NEOs.
(2)Dr. Lalezari, Mr. Migliarese and Dr. Arman each served as the Company’s PEO for a portion of the 2024 fiscal year, and Mr. Blok and Mr. Cohen were the Company’s non-PEO NEOs.
(3)Mr. Migliarese and Dr. Arman each served as the Company’s PEO for a portion of the 2023 fiscal year, and Scott Kelly, M.D., and Nitya Ray, Ph.D., were the Company’s non-PEO NEOs.
Adjustment To PEO Compensation, Footnote
(4)The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in the tables below.

Compensation Actually Paid reflects adjustments to the values of awards of stock options shown in the Summary Compensation Table for the 2025 fiscal year as set forth in the tables below.

    

    

    

    

Change in

    

    

    

Fair

Change in

Change in

Value of

Fair

Fair

Unvested

Value of

Value of

Equity

Equity

Unvested

Awards

Awards

Equity

that Vested

Deduction for Fair

Granted

Awards

During

Value of

during

From Prior

Year from

Dividends Paid

Awards Granted

Summary

Year that

Year-

Prior Year-

on Awards

in Prior Years

Compensation

Remained

End to

end to

During Year

that

Compensation

Table

Unvested at

Current

Vesting

Prior to

Were Forfeited

Actually

Total

Year-end

Year-end

Date

Vesting Date

During Year

Paid

PEO Year

($)

($)

($)

($)

($)

($)

($)

2025 – Jacob Lalezari

783,850

344,504

189,754

(3,326)

1,314,782

2024 – Jacob Lalezari

685,366

(48,772)

636,594

2024 – Antonio Migliarese

483,241

(27,661)

(465,125)

(9,545)

2024 – Cyrus Arman

387,587

(13,349)

(20,301)

(168,104)

185,833

2023 – Antonio Migliarese

1,757,283

(415,142)

(10,348)

255,336

1,587,129

2023 – Cyrus Arman

1,528,411

(613,010)

915,401

   
Non-PEO NEO Average Total Compensation Amount $ 499,007 $ 397,114 $ 1,365,675
Non-PEO NEO Average Compensation Actually Paid Amount $ 529,543 376,750 1,431,753
Adjustment to Non-PEO NEO Compensation Footnote
(4)The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in the tables below.

Compensation Actually Paid reflects adjustments to the values of awards of stock options shown in the Summary Compensation Table for the 2025 fiscal year as set forth in the tables below.

Average

Change in

Average

Fair

Change for

Average

Value of

Year-

Change in

Unvested

end Fair

Fair

Equity

Value of

Value of

Awards

Equity

Unvested

that

Awards

Equity

Vested

Average

Granted

Awards

During

Average

Deduction for Fair

Average

during

From

Year from

Dividends Paid

Value of

Summary

Year that

Prior

Prior

on Awards

Awards Granted

Average

Compensation

Remained

Year-End to

Year-end to

During Year

in Prior Years that

Compensation

Table

Unvested at

Current

Vesting

Prior to

Were Forfeited

Actually

NON-PEO

Total

Year-end

Year-end

Date

Vesting Date

During Year

Paid

NEOS YEAR

    

($)

    

($)

    

($)

    

($)

    

($)

    

($)

    

($)

2025

499,007

12,999

17,230

307

529,543

2024

397,114

(14,832)

(4,662)

(870)

376,750

2023

1,365,675

213,893

(147,815)

1,431,753

   
Total Shareholder Return Amount $ 209.94 61.53 81.25
Net Income (Loss) $ 3,745,000 (49,841,000) (79,824,000)
PEO Name Dr. Lalezari    
Jacob Lalezari      
Pay vs Performance Disclosure      
PEO Total Compensation Amount $ 783,850 685,366  
PEO Actually Paid Compensation Amount 1,314,782 636,594  
Antonio Migliarese      
Pay vs Performance Disclosure      
PEO Total Compensation Amount   483,241 1,757,283
PEO Actually Paid Compensation Amount   (9,545) 1,587,129
Cyrus Arman      
Pay vs Performance Disclosure      
PEO Total Compensation Amount   387,587 1,528,411
PEO Actually Paid Compensation Amount   185,833 915,401
PEO | Jacob Lalezari | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 344,504 (48,772)  
PEO | Jacob Lalezari | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 189,754    
PEO | Jacob Lalezari | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (3,326)    
PEO | Antonio Migliarese | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount     (415,142)
PEO | Antonio Migliarese | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount     (10,348)
PEO | Antonio Migliarese | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   (27,661) 255,336
PEO | Antonio Migliarese | Equity Awards Adjustments Change In Fair Value Of Awards Granted In Prior Years Forfeited During Current Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   (465,125)  
PEO | Cyrus Arman | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   (13,349) (613,010)
PEO | Cyrus Arman | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   (20,301)  
PEO | Cyrus Arman | Equity Awards Adjustments Change In Fair Value Of Awards Granted In Prior Years Forfeited During Current Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   (168,104)  
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 12,999 (14,832)  
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 17,230 (4,662)  
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 307 $ (870) 213,893
Non-PEO NEO | Equity Awards Adjustments Change In Fair Value Of Awards Granted In Prior Years Forfeited During Current Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount     $ (147,815)