Share-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

Additional information regarding options is set forth below (in thousands, except per share data).

	Years Ended March 31,				Period from February 2, 2016 (Date of Inception) to March 31,
	2018		2017		2016
Intrinsic value of options exercised	$	181	$	—	$	—
Grant date fair value of options vested	$	5,831	$	350	$	—
Weighted-average grant date fair value per share of options granted	$	8.35	$	11.90	$	—

A summary of option activity and data under the Company’s 2016 Plan for the year ended March 31, 2018 is as follows:

	Number of Options		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (in thousands)
Options outstanding at March 31, 2017	1,525,857		$	5.06	$	11.90
Granted	2,338,116		$	12.50	$	8.35
Exercised	(15,195	)	$	2.38	$	12.75
Forfeited	(299,373	)	$	6.64	$	11.35
Options outstanding at March 31, 2018	3,549,405		$	9.84	$	9.60	9.02	$	40,557
Options vested and expected to vest at March 31, 2018	3,549,405		$	9.84	$	9.60	9.02	$	40,557
Options exercisable at March 31, 2018	502,361		$	4.88	$	11.95	8.49	$	8,235

Summary of Restricted Share Awards and Restricted Stock Units Activity

A summary of restricted share award and restricted stock unit activity under the Company’s 2016 Plan for the year ended March 31, 2018 is as follows:

	Number of shares		Weighted Average Grant Date Fair Value
Unvested balance at March 31, 2017	1,128,222		$	5.10
Granted	579,111		$	14.10
Vested	(493,598	)	$	5.10
Unvested balance at March 31, 2018	1,213,735		$	9.39

Schedule of Share-based Compensation

Share-based compensation expense was as follows (in thousands):

	Years Ended March 31,				Period from February 2, 2016 (Date of Inception) to March 31,
	2018		2017		2016
Share-based compensation expense recognized as:
R&D expenses	$	3,674	$	3,893	$	—
G&A expenses	7,909		4,824		987
Total	$	11,583	$	8,717	$	987

Schedule of Weighted Average Fair Value Assumptions

The Company estimated the fair value of each option on the date of grant using the Black-Scholes closed-form option-pricing model applying the weighted average assumptions in the following table.

	Years Ended March 31,				Period from February 2, 2016 (Date of Inception) to March 31,
	2018		2017		2016
Expected common share price volatility	74.4	%	75.5	%	—	%
Expected risk free interest rate	2.04	%	1.57	%	—	%
Expected term, in years	6.22		6.35		—
Expected dividend yield	—	%	—	%	—	%