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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Operating expenses:        
Research and development [1] $ 48,927 $ 58,434 $ 150,847 $ 163,588
General and administrative [2] 29,142 10,686 59,897 29,738
Total operating expenses 78,069 69,120 210,744 193,326
Interest expense 3,641 1,634 11,222 4,831
Loss on extinguishment of debt 4,851 0 4,851 0
Interest expense (related party) 16 0 16 0
Interest income (597) 0 (2,305) 0
Other (income) expense, net (567) (121) (1,151) 147
Loss before income taxes (85,413) (70,633) (223,377) (198,304)
Income tax expense 191 0 699 233
Net loss $ (85,604) $ (70,633) $ (224,076) $ (198,537)
Net loss per common share — basic and diluted (in USD per share) $ (0.96) $ (1.04) $ (2.64) $ (3.01)
Weighted average common shares outstanding — basic and diluted (in shares) 88,893,579 67,616,419 84,750,114 65,873,779
[1] Includes $25 and $41 of costs allocated from the Company’s former majority shareholder, during the three months ended December 31, 2019 and 2018, respectively, and $76 and $2,524 of costs allocated from the Company’s former majority shareholder during the nine months ended December 31, 2019 and 2018, respectively. Also includes share-based compensation expense (see Note 10).
[2] Includes $195 and $470 of costs allocated from the Company’s former majority shareholder during the three months ended December 31, 2019 and 2018, respectively, and $617 and $2,644 of costs allocated from the Company’s former majority shareholder during the nine months ended December 31, 2019 and 2018, respectively. Also includes share-based compensation expense (see Note 10).