Equity Incentive Plan (Tables)

9 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Stock based compensation expense

Stock based compensation expense was recognized as follows:

	Three Months Ended December 31,				Nine Months Ended                   December 31,
	2020		2019		2020		2019
General and administrative	$	490,000	$	959,000	$	1,589,000	$	2,748,000
Research and development		295,000		643,000		1,149,000		1,925,000
Total	$	785,000	$	1,602,000	$	2,738,000	$	4,673,000

Schedule of Assumptions Used to Estimate the Fair Value of Stock Options Granted

The weighted average assumptions used to determine such values are presented in the following table:

	December 31, 2020			December 31, 2019
Risk free interest rate	0.17% - 0.53%			1.39% - 2.38%
Expected volatility	88.02% - 101.67%			71.65% - 76.22%
Expected term (in years)	2.8 - 6.1			2.5 - 6
Dividend yield		0	%		0	%

Schedule of Stock Options

The following is a summary of the status of the Company’s stock options for the nine months ended December 31, 2020:

	Number of Options			Weighted Average Exercise Price
Outstanding at March 31, 2020		11,815,982		$	3.43
Granted		5,568,000		$	1.24
Cancelled/Forfeited		(1,927,460	)	$	1.75
Outstanding at December 31, 2020		15,456,522		$	2.85
Options exercisable at December 31, 2020		9,853,275		$	3.70

Schedule of Stock Option by Exercise Price Range

			Stock Options Outstanding						Stock Options Vested
Range of Exercise Price	Number Outstanding at December 31, 2020		Weighted Average Exercise Price		Weighted Average Remaining Life (Years)		Aggregate Intrinsic Value		Number Vested at December 31, 2020		Weighted Average Exercise Price		Aggregate Intrinsic Value
$0.95 - $8.75		15,456,522	$	2.85		7.5	$	438,795		9,853,275	$	3.70	$	39,000