Supplemental Financial Information

12 Months Ended

Mar. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Supplemental Financial Information

17. Supplemental Financial Information 

The following table presents the unaudited statements of operations data for each of the eight quarters in the period ended March 31, 2016. The information has been presented on the same basis as the audited financial statements and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts below to present fairly the unaudited quarterly results when read in conjunction with the audited financial statements and related notes. The operating results for any quarter should not be relied upon as necessarily indicative of results for any future period. 

Quarterly Results of Operations (Unaudited)

 (in thousands, except share and per share amounts) 

	Three Months Ended
	June 30,			September 30,			December 31,			March 31,			Total Fiscal
	2015			2015			2015			2016			Year 2016
Operating expenses:
Research and development	$	373		$	1,656		$	806		$	1,097		$	3,932
General and administrative		1,448			3,731			1,336			7,404			13,919
Total operating expenses		1,821			5,387			2,142			8,501			17,851
Loss from operations		(1,821	)		(5,387	)		(2,142	)		(8,501	)		(17,851	)
Other expenses, net:
Interest expense, net		(755	)		(12	)		(3	)		(1	)		(771	)
Change in warrant liabilities		(1,895	)		-			-			-			(1,895	)
Loss on extinguishment of debt		(25,051	)		(1,649	)		-			-			(26,700	)
Other expense, net		-			-			(2	)		-			(2	)
Loss before income taxes		(29,522	)		(7,048	)		(2,147	)		(8,502	)		(47,219	)
Income taxes		(2	)		-			-			-			(2	)
Net loss		(29,524	)		(7,048	)		(2,147	)		(8,502	)		(47,221	)
Accrued dividend on Series B Preferred stock		(213	)		(615	)		(631	)		(681	)		(2,140	)
Deemed dividend on Series B Preferred stock		(256	)		(887	)		(669	)		(246	)		(2,058	)
Net loss attributable to common stockholders	$	(29,993	)	$	(8,550	)	$	(3,447	)	$	(9,429	)	$	(51,419	)
Basic and diluted net loss per common share	$	(19.23	)	$	(5.26	)	$	(1.95	)	$	(4.44	)	$	(29.08	)
Weighted average shares used in computing:
Basic and diluted net loss per common share		1,559,483			1,624,371			1,765,641			2,123,936			1,767,957

	Three Months Ended												Total Fiscal Year 2015
	June 30,  2014			September 30, 2014			December 31, 2014			March 31, 2015
Operating expenses:
Research and development	$	474		$	558		$	445		$	956		$	2,433
General and administrative		797			556			671			2,320			4,344
Total operating expenses		1,271			1,114			1,116			3,276			6,777
Loss from operations		(1,271	)		(1,114	)		(1,116	)		(3,276	)		(6,777	)
Other expenses, net:
Interest expense, net		(785	)		(606	)		(792	)		(2,366	)		(4,549	)
Change in warrant liabilities		(1,727	)		1,302			953			(563	)		(35	)
Income (loss) before income taxes		(4,551	)		(2,021	)		(1,090	)		(6,222	)		(13,884	)
Income taxes		(2	)		-			-			-			(2	)
Net income (loss)	$	(4,553	)	$	(2,021	)	$	(1,090	)	$	(6,222	)	$	(13,886	)
Basic net loss per common share	$	(3.70	)	$	(1.58	)	$	(0.84	)	$	(4.24	)	$	(10.53	)
Diluted net loss per common share	$	(3.70	)	$	(1.90	)	$	(1.08	)	$	(4.24	)	$	(10.61	)
Weighted average shares used in computing:
Basic net loss per common share		1,229,504			1,279,267			1,302,316			1,466,402			1,318,813
Diluted net loss per common share		1,229,504			1,299,115			1,302,316			1,466,402			1,318,813