Description of Business

6 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business

Description of Business

Sio Gene Therapies Inc. ("Sio"), together with its wholly owned subsidiaries (the "Company"), is a clinical-stage company focused on developing gene therapies for neurodegenerative diseases. The Company is developing a pipeline of innovative product candidates for the treatment of these debilitating diseases, including Parkinson's disease, GM1 gangliosidosis and GM2 gangliosidosis (including Tay-Sachs disease and Sandhoff disease). The Company is dedicated to realizing the potential of gene therapies to offer transformative patient outcomes in areas of high unmet medical need.

Sio is a Delaware corporation, which was originally an exempted limited company incorporated under the laws of Bermuda and was formed under the name Roivant Neurosciences Ltd. in October 2014 and changed its name to Axovant Sciences Ltd. in March 2015, and to Axovant Gene Therapies Ltd. ("AGT") in March 2019. On October 2, 2020, AGT filed a Registration Statement on Form S-4 (the "S-4 Registration Statement") with the Securities and Exchange Commission ("SEC") in connection with a domestication under Section 388 of the General Corporation Law of the State of Delaware and a discontinuance under Sections 132G and 132H of the Companies Act 1981 of Bermuda, with AGT’s jurisdiction of incorporation changing from Bermuda to the State of Delaware (the "Domestication"). On October 5, 2020, the Board of Directors of AGT approved the Domestication, and on November 12, 2020, (i) the SEC declared the S-4 Registration Statement effective, (ii) each of the Certificate of Domestication and the Certificate of Incorporation of Sio were filed in the State of Delaware, and (iii) a notice of discontinuance was filed in Bermuda. On November 13, 2020, the Company’s common stock began to trade on The Nasdaq Global Select Market (“Nasdaq”) under the symbol “SIOX”, and the Company continues to be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, and applicable rules of Nasdaq. Sio has seven wholly owned subsidiaries:

•Axovant Holdings Limited ("AHL");

•Axovant Sciences, Inc. ("ASI");

•Axovant Sciences GmbH ("ASG");

•Axovant Sciences America, Inc. ("ASA");

•Axovant Treasury Holdings, Inc. ("ATH");

•Axovant Treasury, Inc. ("ATI"); and

•Axovant Sciences Europe Limited ("ASEU").

Since its inception, the Company has devoted substantially all of its efforts to organizing and staffing the Company, raising capital, acquiring product candidates and advancing its product candidates into clinical development. The Company has determined that it has one operating and reporting segment as it allocates resources and assesses financial performance on a consolidated basis. The Company does not expect to generate revenue unless and until it successfully completes development and obtains regulatory approval for one of its product candidates.