Long-term Debt (Tables)

3 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Key Assumptions used to Measure Value of Warrant

The Company estimated the fair value of the Warrants using the Black-Scholes model based on the following key assumptions:

	Tranche 1	Tranche 2
Exercise price	$15.06	$18.82
Common share price on date of issuance	$14.39	$18.96
Volatility	73.2%	72.3%
Risk-free interest rate	2.15%	2.78%
Expected dividend yield	—%	—%
Contractual term (in years)	7.00 years	7.00 years

Schedule of Outstanding Debt Obligations

Outstanding debt obligations are as follows (in thousands):

	June 30, 2018			March 31, 2018
Principal amount	$	40,000		$	40,000
End of term charge	2,620			2,620
Less: unamortized debt discount and issuance costs	(3,739		)	(4,142		)
Loan payables less unamortized debt discount and issuance costs	38,881			38,478
Less: current maturities	—			—
Long-term loan payable, net of current maturities and unamortized debt discount and issuance costs	$	38,881		$	38,478

Outstanding debt obligations to NovaQuest are as follows (in thousands):

	June 30, 2018			March 31, 2018
Principal amount	$	6,000		$	6,000
Less: unamortized debt issuance costs	(750		)	(854		)
Loan payables less unamortized debt issuance costs	5,250			5,146
Less: current maturities	—			—
Long-term loan payable, net of current maturities and unamortized debt issuance costs	$	5,250		$	5,146