Summary of Significant Accounting Policies (Tables)

12 Months Ended

Apr. 30, 2015

Accounting Policies [Abstract]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table presents information about our warrant liability, which was our only financial instrument measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of April 30 (dollars in thousands):

	2015		2014
Balance beginning of year	$	(2,011)	$	(1,046)
Transfers to (from) Level 3		-		-
Change in fair value included in earnings		981		(965)
Modification Charge		(586)
Reclassification to equity		1,616		-
Balance end of year	$	-	$	(2,011)

Public Utility Property, Plant, and Equipment [Table Text Block]

Property and equipment consisted of the following (in thousands):

	April 30,
	2015		2014
Furniture and fixtures	$	70	$	69
Computer equipment and software		685		655
Laboratory equipment		493		296
Leasehold improvements		2		2
Total property and equipment		1,250		1,022
Less: Accumulated depreciation and amortization		(798)		(588)
Property and equipment, net	$	452	$	434

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The following is a schedule by years of future minimum lease payments under this capital lease together with the present value of the net minimum lease payments as of April 30, 2015:

For the Years Ended April 30,	2016		23
	2017		24
	2018		25
	2019		26
	2020		16
Total minimum lease payments		$	114
Less: current maturity			(23)
Long-term maturity			91

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Year Ended April 30,
	2015		2014
Basic loss per share computation
Net loss attributable to common stockholders	$	(13,139,820)	$	(7,406,367)
Weighted Average common shares - basic		71,824,146		66,863,915
Basic net loss per share	$	(0.18)	$	(0.11)
Diluted loss per share computation
Net loss attributable to common stockholders	$	(13,139,820)	$	(7,406,367)
Less: Gain on derivative warrant liability		980,519		-
Loss available to common stockholders	$	(14,120,339)	$	(7,406,367)
Weighted Average common shares		71,824,146		66,863,915
Incremental shares from assumed exercise of warrants and stock options		5,268,777		-
Adjusted weighted average share – diluted		77,092,923		66,863,915
Diluted net loss per share	$	(0.18)	$	(0.11)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The following table reflects the total potential share-based instruments outstanding at April 30, 2015 and 2014 that could have an effect on the future computation of dilution per common share:

  

	Year Ended April 30,
	2015		2014
Stock options		24,048,020		23,351,037
Warrants		25,318,082		3,276,667
Total common stock equivalents		49,366,102		26,627,704