Warrants and Derivative Liabilities (Tables)

12 Months Ended

Mar. 31, 2017

Exchanged warrants

Class Of Warrant Or Right [Line Items]

Summary of Key Assumptions Used to Calculate Fair Value

Following is a summary of the key assumptions used to calculate the fair value of the Exchanged Warrant:

	March 31,	December 31,	September 30,	June 30,
Fiscal Year 16	2017	2016	2016	2016
Risk-free interest rate	0.91%	0.56%	0.59%	0.48%
Expected annual dividend yield	—	—	—	—
Expected volatility	44.12%	58.04%	70.50%	76.30%
Term  (years)	0.51	0.76	1.01	1.26
Fair value	$—	$0.1 million	$0.2 million	$0.4 million
	March 31,	December 31,	September 30,	June 30,
Fiscal Year 15	2016	2015	2015	2015
Risk-free interest rate	0.66%	0.96%	0.64%	0.74%
Expected annual dividend yield	—	—	—	—
Expected volatility	76.76%	76.68%	73.39%	71.61%
Term  (years)	1.51	1.76	2.01	2.26
Fair value	$0.4 million	$0.3 million	$0.1 million	$0.2 million
	March 31,	December 31,	September 30,	June 30,	March 31,
Fiscal Year 14	2015	2014	2014	2014	2014
Risk-free interest rate	0.73%	1.00%	1.07%	0.98%	1.11%
Expected annual dividend yield	—	—	—	—	—
Expected volatility	70.42%	72.38%	76.20%	83.50%	80.99%
Term  (years)	2.51	2.76	3.01	3.26	3.51
Fair value	$0.3 million	$0.5 million	$1.5 million	$2.3 million	$2.2 million

Hercules warrant

Class Of Warrant Or Right [Line Items]

Summary of Key Assumptions Used to Calculate Fair Value

Following is a summary of the key assumptions used to calculate the fair value of the Hercules Warrant:

	March 31,	December 31,	September 30,	June 30,
Fiscal Year 16	2017	2016	2016	2016
Risk-free interest rate	1.55%	1.57%	0.97%	0.86%
Expected annual dividend yield	—	—	—	—
Expected volatility	66.51%	67.28%	67.98%	68.34%
Term  (years)	3.25	3.50	3.75	4.00
Fair value	$0.2 million	$0.2 million	$0.2 million	$0.3 million
	March 31,	December 31,	September 30,	June 30,
Fiscal Year 15	2016	2015	2015	2015
Risk-free interest rate	1.08%	1.65%	1.31%	1.63%
Expected annual dividend yield	—	—	—	—
Expected volatility	70.25%	73.57%	75.32%	72.57%
Term  (years)	4.25	4.50	4.75	5.00
Fair value	$0.2 million	$0.2 million	$0.1 million	$0.2 million
			New Issuance
	March 31,	December 31,	December 19,
Fiscal Year 14	2015	2014	2014
Risk-free interest rate	1.41%	1.73%	1.74%
Expected annual dividend yield	—	—	—
Expected volatility	74.60%	77.43%	70.26%
Term  (years)	5.25	5.50	5.53
Fair value	$0.2 million	$0.2 million	$0.2 million

November 2014 warrant

Class Of Warrant Or Right [Line Items]

Summary of Key Assumptions Used to Calculate Fair Value

Following is a summary of the key assumptions used to calculate the fair value of the November 2014 Warrant:

	March 31,	December 31,	September 30,	June 30,
Fiscal Year 16	2017	2016	2016	2016
Risk-free interest rate	1.41%	1.43%	0.93%	0.77%
Expected annual dividend yield	—	—	—	—
Expected volatility	66.53%	69.31%	68.96%	70.01%
Term  (years)	2.62	2.87	3.12	3.37
Fair value	$1.8 million	$2.3 million	$2.3 million	$3.2 million
	March 31,	December 31,	September 30,	June 30,
Fiscal Year 15	2016	2015	2015	2015
Risk-free interest rate	0.98%	1.51%	1.17%	1.44%
Expected annual dividend yield	—	—	—	—
Expected volatility	69.88%	70.02%	73.02%	74.18%
Term  (years)	3.62	3.87	4.12	4.37
Fair value	$2.6 million	$2.1 million	$1.3 million	$1.8 million
			New Issuance
	March 31,	December 31,	November 13,
Fiscal Year 14	2015	2014	2014
Risk-free interest rate	1.28%	1.61%	1.64%
Expected annual dividend yield	—	—	—
Expected volatility	75.96%	78.00%	72.86%
Term  (years)	4.62	4.87	5.00
Fair value	$2.5 million	$3.2 million	$4.3 million