VistaGen Therapeutics (VTGN) 10-Q 10 Nov 21 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Sep. 30, 2021	Nov. 09, 2021
Document Information [Line Items]
Entity Central Index Key	0001411685
Entity Registrant Name	VistaGen Therapeutics, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-37761
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	20-5093315
Entity Address, Address Line One	343 Allerton Avenue
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	650
Local Phone Number	577-3600
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	VTGN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		199,702,333

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 93,627,100	$ 103,108,300
Prepaid expenses and other current assets	2,676,800	835,100
Deferred contract acquisition costs - current portion	133,500	133,500
Total current assets	96,437,400	104,117,500
Property and equipment, net	496,600	367,400
Right of use asset – operating lease	3,029,100	3,219,600
Deferred offering costs	321,600	294,900
Deferred contract acquisition costs - non-current portion	167,200	234,100
Security deposits	47,800	47,800
Total assets	100,499,700	108,281,300
Current liabilities:
Accounts payable	2,659,600	838,300
Accrued expenses	3,430,100	1,562,700
Deferred revenue - current portion	1,420,200	1,420,200
Operating lease obligation - current portion	401,000	364,800
Financing lease obligation - current portion	1,300	3,000
Total current liabilities	7,912,200	4,189,000
Non-current liabilities:
Accrued dividends on Series B Preferred Stock	7,009,700	6,272,700
Deferred revenue - non-current portion	1,778,200	2,490,300
Operating lease obligation - non-current portion	3,139,900	3,350,800
Total non-current liabilities	11,927,800	12,113,800
Total liabilities	19,840,000	16,302,800
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock, $0.001 par value; 325,000,000 shares authorized at September 30, 2021 and March 31, 2021; 196,558,785 and 180,751,234 shares issued at September 30, 2021 and March 31, 2021, respectively	196,500	180,800
Additional paid-in capital	324,808,000	315,603,100
Treasury stock, at cost, 135,665 shares of common stock held at September 30, 2021 and March 31, 2021	(3,968,100)	(3,968,100)
Accumulated deficit	(240,380,600)	(219,841,600)
Total stockholders’ equity	80,659,700	91,978,500
Total liabilities and stockholders’ equity	100,499,700	108,281,300
Series A Preferred Stock [Member]
Stockholders’ equity:
Preferred stock	500	500
Series B Preferred Stock [Member]
Stockholders’ equity:
Preferred stock	1,100	1,100
Series C Preferred Stock [Member]
Stockholders’ equity:
Preferred stock	2,300	2,300
Series D Preferred Stock [Member]
Stockholders’ equity:
Preferred stock	0	400
Collaborative Arrangement [Member]
Current assets:
Receivable from collaboration partner	$ 0	$ 40,600

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2021	Mar. 31, 2021
Preferred Stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred Stock, Par or Stated Value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Par Value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized (in shares)	325,000,000	325,000,000
Common Stock, Shares Issued (in shares)	196,558,785	180,751,234
Treasury stock, shares (in shares)	135,665	135,665
Series A Preferred Stock [Member]
Preferred Stock, shares authorized (in shares)	500,000	500,000
Series B Preferred Stock [Member]
Preferred Stock, shares authorized (in shares)	4,000,000	4,000,000
Preferred Stock, shares, issued (in shares)	1,131,669	1,131,669
Preferred Stock, shares, outstanding (in shares)	1,131,669	1,131,669
Series C Preferred Stock [Member]
Preferred Stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred Stock, shares, issued (in shares)	2,318,012	2,318,012
Preferred Stock, shares, outstanding (in shares)	2,318,012	2,318,012
Series D Preferred Stock [Member]
Preferred Stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred Stock, shares, issued (in shares)	0	402,149
Preferred Stock, shares, outstanding (in shares)	0	402,149

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 358,000	$ 334,000	$ 712,100	$ 334,000
Operating expenses:
Research and development	10,066,700	2,358,200	15,670,300	4,089,400
General and administrative	3,090,800	1,269,500	5,587,500	2,660,100
Total operating expenses	13,157,500	3,627,700	21,257,800	6,749,500
Loss from operations	(12,799,500)	(3,293,700)	(20,545,700)	(6,415,500)
Other income (expenses), net:
Interest income (expense), net	5,100	(3,900)	10,200	(7,100)
Other income	0	0	0	600
Loss before income taxes	(12,794,400)	(3,297,600)	(20,535,500)	(6,422,000)
Income taxes	0	(200)	(3,400)	(2,600)
Net loss and comprehensive loss	(12,794,400)	(3,297,800)	(20,538,900)	(6,424,600)
Accrued dividends on Series B Preferred stock	(375,200)	(347,200)	(737,000)	(683,000)
Net loss attributable to common stockholders	$ (13,169,600)	$ (3,645,000)	$ (21,275,900)	$ (7,107,600)
Basic and diluted net loss attributable to common stockholders per common share (in dollars per share)	$ (0.07)	$ (0.05)	$ (0.11)	$ (0.12)
Weighted average shares used in computing basic and diluted net loss attributable to common stockholders per common share (in shares)	193,227,841	67,082,935	191,585,026	59,245,209
License [Member]
Revenue	$ 358,000	$ 334,000	$ 712,100	$ 334,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (20,538,900)	$ (6,424,600)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	71,200	50,900
Stock-based compensation	1,354,900	1,085,500
Amortization of operating lease right of use asset	190,500	176,700
Change in operating liability	(174,700)	(149,700)
Expense related to write-off of deferred offering costs	232,000	0
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(1,841,700)	91,500
Accounts payable and accrued expenses	3,688,800	(985,700)
Net cash used in operating activities	(17,622,500)	(1,803,000)
Cash flows from property and investing activities:
Purchases of laboratory and other equipment	(200,400)	(98,800)
Net cash used in investing activities	(200,400)	(98,800)
Cash flows from financing activities:
Net proceeds from issuance of common stock and warrants, including option exercises	89,600	12,961,300
Net proceeds from exercise of warrants	4,254,800	84,600
Proceeds from issuance of note under Payroll Protection Plan	0	224,400
Repayment of capital lease obligations	(1,800)	(1,600)
Repayment of notes payable	0	(164,100)
Net cash provided by financing activities	8,341,700	15,946,200
Net increase (decrease) in cash and cash equivalents	(9,481,200)	14,044,400
Cash and cash equivalents at beginning of period	103,108,300	1,355,100
Cash and cash equivalents at end of period	93,627,100	15,399,500
Supplemental disclosure of noncash activities:
Insurance premiums settled by issuing note payable	0	322,200
Series B Preferred Stock [Member]
Supplemental disclosure of noncash activities:
Accrued dividends on Series B Preferred	737,000	683,000
ATM Facility [Member]
Cash flows from financing activities:
Net proceeds from sale of common stock	3,999,100	0
Equity Line [Member]
Cash flows from financing activities:
Net proceeds from sale of common stock	0	2,841,600
License [Member]
Changes in operating assets and liabilities:
Deferred sublicense revenue, net of deferred contract acquisition costs	(645,200)	4,352,400
Collaborative Arrangement [Member]
Changes in operating assets and liabilities:
Receivable from collaboration partner	$ 40,600	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Private Placement [Member]Preferred Stock [Member]Series A Preferred Stock [Member]	Private Placement [Member]Preferred Stock [Member]Series B Preferred Stock [Member]	Private Placement [Member]Preferred Stock [Member]Series C Preferred Stock [Member]	Private Placement [Member]Preferred Stock [Member]Series D Preferred Stock [Member]	Private Placement [Member]Common Stock [Member]	Private Placement [Member]Additional Paid-in Capital [Member]	Private Placement [Member]Treasury Stock [Member]	Private Placement [Member]Retained Earnings [Member]	Private Placement [Member]	Common Stock Purchase Agreement With Lincoln Park Capital Fund [Member]Preferred Stock [Member]Series A Preferred Stock [Member]	Common Stock Purchase Agreement With Lincoln Park Capital Fund [Member]Preferred Stock [Member]Series B Preferred Stock [Member]	Common Stock Purchase Agreement With Lincoln Park Capital Fund [Member]Preferred Stock [Member]Series C Preferred Stock [Member]	Common Stock Purchase Agreement With Lincoln Park Capital Fund [Member]Preferred Stock [Member]Series D Preferred Stock [Member]	Common Stock Purchase Agreement With Lincoln Park Capital Fund [Member]Common Stock [Member]	Common Stock Purchase Agreement With Lincoln Park Capital Fund [Member]Additional Paid-in Capital [Member]	Common Stock Purchase Agreement With Lincoln Park Capital Fund [Member]Treasury Stock [Member]	Common Stock Purchase Agreement With Lincoln Park Capital Fund [Member]Retained Earnings [Member]	Common Stock Purchase Agreement With Lincoln Park Capital Fund [Member]	Public Offering [Member]Preferred Stock [Member]Series C Preferred Stock [Member]	Public Offering [Member]Preferred Stock [Member]Series D Preferred Stock [Member]	Public Offering [Member]Common Stock [Member]	Public Offering [Member]Additional Paid-in Capital [Member]	Public Offering [Member]Treasury Stock [Member]	Public Offering [Member]Retained Earnings [Member]	Public Offering [Member]	ATM Facility [Member]Preferred Stock [Member]Series A Preferred Stock [Member]	ATM Facility [Member]Preferred Stock [Member]Series B Preferred Stock [Member]	ATM Facility [Member]Preferred Stock [Member]Series C Preferred Stock [Member]	ATM Facility [Member]Preferred Stock [Member]Series D Preferred Stock [Member]	ATM Facility [Member]Common Stock [Member]	ATM Facility [Member]Additional Paid-in Capital [Member]	ATM Facility [Member]Treasury Stock [Member]	ATM Facility [Member]Retained Earnings [Member]	ATM Facility [Member]	Preferred Stock [Member]Series A Preferred Stock [Member]	Preferred Stock [Member]Series B Preferred Stock [Member]	Preferred Stock [Member]Series C Preferred Stock [Member]	Preferred Stock [Member]Series D Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Series D Preferred Stock [Member]	Total
Balances (in shares) at Mar. 31, 2020																																			500,000	1,160,240	2,318,012	0	49,348,707
Balances at Mar. 31, 2020																																			$ 500	$ 1,200	$ 2,300	$ 0	$ 49,300	$ 200,092,800	$ (3,968,100)	$ (201,907,400)		$ (5,729,400)
Issuance of common stock (in shares)	0	0	0	0	125,000					0	0	0	0	6,201,995
Issuance of common stock	$ 0	$ 0	$ 0	$ 0	$ 200	$ 49,800	$ 0	$ 0	$ 50,000	$ 0	$ 0	$ 0	$ 0	$ 6,200	$ 2,741,300	$ 0	$ 0	$ 2,747,500
Issuance of common stock at fair value for professional services (in shares)																																			0	0	0	0	233,645
Issuance of common stock at fair value for professional services																																			$ 0	$ 0	$ 0	$ 0	$ 200	124,800	0	0		125,000
Sale of common stock pursuant to 2019 Employee Stock Purchase Plan (in shares)																																			0	0	0	0	28,125
Sale of common stock pursuant to 2019 Employee Stock Purchase Plan																																			$ 0	$ 0	$ 0	$ 0	$ 0	12,600	0	0		12,600
Expenses related to S-3 registration statement for warrant shares																																			0	0	0	0	0	(29,400)	0	0		(29,400)
Accrued dividends on Series B Preferred stock																																			0	0	0	0	0	(335,800)	0	0		(335,800)
Stock-based compensation expense																																			0	0	0	0	0	674,600	0	0		674,600
Net loss																																			$ 0	$ 0	$ 0	$ 0	$ 0	0	0	(3,126,800)		(3,126,800)
Balances (in shares) at Jun. 30, 2020																																			500,000	1,160,240	2,318,012	0	55,937,472
Balances at Jun. 30, 2020																																			$ 500	$ 1,200	$ 2,300	$ 0	$ 55,900	203,330,700	(3,968,100)	(205,034,200)		(5,611,700)
Balances (in shares) at Mar. 31, 2020																																			500,000	1,160,240	2,318,012	0	49,348,707
Balances at Mar. 31, 2020																																			$ 500	$ 1,200	$ 2,300	$ 0	$ 49,300	200,092,800	(3,968,100)	(201,907,400)		(5,729,400)
Net loss																																												(6,424,600)
Balances (in shares) at Sep. 30, 2020																																			500,000	1,160,240	2,318,012	0	74,133,722
Balances at Sep. 30, 2020																																			$ 500	$ 1,200	$ 2,300	$ 0	$ 74,100	216,444,600	(3,968,100)	(208,332,000)		4,222,600
Balances (in shares) at Jun. 30, 2020																																			500,000	1,160,240	2,318,012	0	55,937,472
Balances at Jun. 30, 2020																																			$ 500	$ 1,200	$ 2,300	$ 0	$ 55,900	203,330,700	(3,968,100)	(205,034,200)		(5,611,700)
Issuance of common stock (in shares)																				0	17,868,250														0	0	0	0	100,000
Issuance of common stock																			$ 0	$ 0	$ 17,900	$ 12,887,200	$ 0	$ 0	$ 12,905,100										$ 0	$ 0	$ 0	$ 0	$ 100	49,200	0	0		49,300
Accrued dividends on Series B Preferred stock																																			0	0	0	0	0	(347,200)	0	0		(347,200)
Stock-based compensation expense																																			0	0	0	0	0	410,900	0	0		410,900
Net loss																																			$ 0	$ 0	$ 0	$ 0	$ 0	0	0	(3,297,800)		(3,297,800)
Net proceeds from exercise of warrants (in shares)																																			0	0	0	0	228,000
Net proceeds from exercise of warrants																																			$ 0	$ 0	$ 0	$ 0	$ 200	113,800	0	0		114,000
Balances (in shares) at Sep. 30, 2020																																			500,000	1,160,240	2,318,012	0	74,133,722
Balances at Sep. 30, 2020																																			$ 500	$ 1,200	$ 2,300	$ 0	$ 74,100	216,444,600	(3,968,100)	(208,332,000)		4,222,600
Balances (in shares) at Mar. 31, 2021																																			500,000	1,131,669	2,318,012	402,149	180,751,234
Balances at Mar. 31, 2021																																			$ 500	$ 1,100	$ 2,300	$ 400	$ 180,800	315,603,100	(3,968,100)	(219,841,600)		91,978,500
Issuance of common stock (in shares)																																											2,000,000
Sale of common stock pursuant to 2019 Employee Stock Purchase Plan (in shares)																																			0	0	0	0	16,251
Sale of common stock pursuant to 2019 Employee Stock Purchase Plan																																			$ 0	$ 0	$ 0	$ 0	$ 0	31,600	0	0		31,600
Accrued dividends on Series B Preferred stock																																			0	0	0	0	0	(361,800)	0	0		(361,800)
Stock-based compensation expense																																			0	0	0	0	0	590,400	0	0		590,400
Net loss																																			$ 0	$ 0	$ 0	$ 0	$ 0	0	0	(7,744,600)		(7,744,500)
Net proceeds from exercise of warrants (in shares)																																			0	0	0	0	1,516,768
Net proceeds from exercise of warrants																																			$ 0	$ 0	$ 0	$ 0	$ 1,500	1,108,200	0	0		$ 1,109,700
Conversion of Series D Preferred stock into common stock (in shares)																																			0	0	0	402,149	(9,249,427)					(46,000,000)
Conversion of Series D Preferred stock into common stock																																			$ 0	$ 0	$ 0	$ (400)	$ 9,200	(8,800)	0	0		$ 0
Issuance of common stock upon cashless exercise of options (in shares)																																			0	0	0	0	82,504
Issuance of common stock upon cashless exercise of options																																			$ 0	$ 0	$ 0	$ 0	$ 100	0	0	0		100
Issuance of common stock upon exercise of options for cash (in shares)																																			0	0	0	0	15,824
Issuance of common stock upon exercise of options for cash																																			$ 0	$ 0	$ 0	$ 0	$ 0	12,900	0	0		12,900
Balances (in shares) at Jun. 30, 2021																																			500,000	1,131,669	2,318,012	0	191,632,008
Balances at Jun. 30, 2021																																			$ 500	$ 1,100	$ 2,300	$ 0	$ 191,600	316,975,600	(3,968,100)	(227,586,200)		85,616,800
Balances (in shares) at Mar. 31, 2021																																			500,000	1,131,669	2,318,012	402,149	180,751,234
Balances at Mar. 31, 2021																																			$ 500	$ 1,100	$ 2,300	$ 400	$ 180,800	315,603,100	(3,968,100)	(219,841,600)		91,978,500
Net loss																																												(20,538,900)
Balances (in shares) at Sep. 30, 2021																																			500,000	1,131,669	2,318,012	0	196,558,785
Balances at Sep. 30, 2021																																			$ 500	$ 1,100	$ 2,300	$ 0	$ 196,500	324,808,000	(3,968,100)	(240,380,600)		80,659,700
Balances (in shares) at Jun. 30, 2021																																			500,000	1,131,669	2,318,012	0	191,632,008
Balances at Jun. 30, 2021																																			$ 500	$ 1,100	$ 2,300	$ 0	$ 191,600	316,975,600	(3,968,100)	(227,586,200)		85,616,800
Issuance of common stock (in shares)																										0	0	0	0	1,502,378
Issuance of common stock																										$ 0	$ 0	$ 0	$ 0	$ 1,500	$ 4,256,300	$ 0	$ 0	$ 4,257,800
Accrued dividends on Series B Preferred stock																																			0	0	0	0	0	(375,200)	0	0		(375,200)
Stock-based compensation expense																																			0	0	0	0	0	764,500	0	0		764,500
Net loss																																			$ 0	$ 0	$ 0	$ 0	$ 0	0	0	(12,794,400)		(12,794,400)
Net proceeds from exercise of warrants (in shares)																																			0	0	0	0	3,297,777
Net proceeds from exercise of warrants																																			$ 0	$ 0	$ 0	$ 0	$ 3,300	3,141,800	0	0		3,145,100
Issuance of common stock upon cashless exercise of options (in shares)																																			0	0	0	0	43,622
Issuance of common stock upon cashless exercise of options																																			$ 0	$ 0	$ 0	$ 0	$ 0		0	0		0
Issuance of common stock upon exercise of options for cash (in shares)																																			0	0	0	0	83,000
Issuance of common stock upon exercise of options for cash																																			$ 0	$ 0	$ 0	$ 0	$ 100	45,000	0	0		45,100
Balances (in shares) at Sep. 30, 2021																																			500,000	1,131,669	2,318,012	0	196,558,785
Balances at Sep. 30, 2021																																			$ 500	$ 1,100	$ 2,300	$ 0	$ 196,500	$ 324,808,000	$ (3,968,100)	$ (240,380,600)		$ 80,659,700

Note 1 - Description of Busines

Note 1 - Description of Business	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	Note 1. Description of Business VistaGen Therapeutics, Inc., a Nevada corporation (which may VistaGen Company we our us CNS three PH94B PH94B PH10 PH10 101, PH94B 3 PH94B 1 2, 3 PH94B SAD 3 NDA PH94B 2023 3 2A AjDA 2A PH94B, PH10 2A PH10 MDD 2B PH10 We are also preparing to initiate Phase 1B 101 Our goal is to become a biopharmaceutical company that develops and commercializes innovative CNS therapies for highly prevalent neuropsychiatric and neurological indications where current treatment options are inadequate to meet the needs of millions of patients worldwide. Our Product Candidates PH94B first PH94B PH94B FDA PH94B OB PH94B, not 3 PH94B PH94B PH94B PH10 MOA PH10 PH10 PH10 ADs KBT PH10 not PH10 not may 2B PH10 PH10 Abnormal function of the NMDAR (N-methyl-D-aspartate receptor), an ionotropic glutamate receptor in the brain, is associated with numerous CNS disorders. AV- 101 7 7 7 not 101 not 101, 101 1B 101 NP Subsidiaries VistaGen Therapeutics, Inc., a California corporation d/b/a VistaStem ( VistaStem 10 Report two

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Basis of Accounting [Text Block]	Note 2. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States ( U.S. GAAP 10 8 03 X. not March 31, 2021 not three six September 30, 2021 not March 31, 2022, The accompanying unaudited Condensed Consolidated Financial Statements and notes to the Condensed Consolidated Financial Statements contained in this Report should be read in conjunction with our audited Consolidated Financial Statements for our fiscal year ended March 31, 2021 10 SEC June 29, 2021 ( Form 10 The accompanying unaudited Condensed Consolidated Financial Statements have been prepared assuming we will continue as a going concern. As a clinical-stage biopharmaceutical company having not May 1998) September 30, 2021. PH94B, PH10 101 Since our inception in May 1998 September 30, 2021, Recent Developments During the six September 30, 2021, 12, Subsequent Events September 30, 2021. In May 2021, Sales Agreement ATM may September 30, 2021, 12, Subsequent Events, October 1, 2021 October 6, 2021, not October 2, 2021 8, Capital Stock September 30, 2021. In December 2020, December 2020 Series D Preferred Securities June 30, 2021. December 2020 Between December 2020 March 31, 2021, In August 2020, August 2020 August 2020 As more completely described in Note 11, Sublicensing and Collaboration Agreements June 2020, PH94B AffaMed Agreement August 2020. Pherin PH94B Liquidity and Capital Resources During our fiscal year ended March 31, 2021, six September 30, 2021 September 30, 2021, twelve not During the next twelve 3 PH94B 2A PH94B 2B PH10 1B 101 PH94B, PH10 101, PH94B 3 Although we believe our current cash position is sufficient to fund our planned operations for more than the next twelve may one one 3 S- 3 one may 3 not In addition to the potential sale of our equity securities, we may one may NIH 101. may may may no Our future working capital requirements will depend on many factors, including, without limitation, potential impacts related to the on-going COVID- 19 PH94B, PH10, 101, Notwithstanding the foregoing, there can be no may may may may not

Note 3 - Summary of Significant

Note 3 - Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 3. Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include those relating to revenue recognition, share-based compensation, right-of-use assets and lease liabilities and assumptions that have been used historically to value warrants and warrant modifications. Revenue Recognition We generate revenue from collaborative research and development arrangements and licensing and technology transfer agreements, including strategic licenses or sublicenses. Until such time as we commence commercial sales of any of our product candidates following successful development, clinical and regulatory approval, we expect that our primary source of revenue beginning from the quarter ended September 30, 2020 PH94B August 2020, December 2016 BlueRock Therapeutics UHN 2019, Bayer Agreement third March 31, 2017. Under Accounting Standards Codification ( ASC 606, Revenue from Contracts with Customers (Topic 606 606, five five Performance Obligations We assess whether each promised good or service is distinct for the purpose of identifying the performance obligations in the contract. This assessment involves subjective determinations and requires judgments about the individual promised goods or services and whether such components are separable from the other aspects of the contractual relationship. In assessing whether a promised good or service is distinct in the evaluation of a collaboration arrangement subject to Topic 606, Collaboration arrangements can have several promised goods or services including a license for our intellectual property, product supply and development and regulatory services. When the customer could not one not Arrangements can include promises for optional additional items, which are considered marketing offers and are accounted for as separate contracts when the customer elects such options. Arrangements that include a promise for future supply of product for either clinical development or commercial supply and optional research and development services at the customer’s or the Company’s discretion are generally considered as options. We assess whether these options provide a material right to the customer and if so, such material rights are accounted for as separate performance obligations. When the customer exercises an option, any additional payments related to the option are recorded in revenue when the customer obtains control of the goods or services. Transaction Price Arrangements may not not not For sales-based royalties, including commercial milestone payments based on the level of sales, for which the license is deemed to be the predominant item to which the royalties relate, we recognize revenue at the later of when (a) the related sales occur, or (b) the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). In determining the transaction price, we adjust consideration for the effects of the time value of money if the timing of payments provides us with a significant benefit of financing. We do not one Allocation of Consideration As part of the accounting for collaboration arrangements, we must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. The transaction price is allocated to the identified performance obligations in proportion to their standalone selling prices ( SSP not not no Timing of Recognition Significant management judgment is required to determine the level of effort required under collaboration arrangements and the period over which we expect to complete our performance obligations under the arrangement. The performance period or measure of progress is estimated at the inception of the arrangement and re-evaluated in each reporting period. This re-evaluation may PH94B. The difference between revenue recognized to-date and the consideration invoiced or received to-date is recognized as either a contract asset/unbilled revenue (revenue earned exceeds cash received) or a contract liability/deferred revenue (cash received exceeds revenue earned). At September 30, 2021, six September 30, 2021: Balance at Balance at March 31, 2021 Additions Deductions September 30, 2021 Deferred Revenue - current portion $ 1,420,200 $ - $ - $ 1,420,200 Deferred Revenue - non-current portion 2,490,300 - (712,100 ) 1,778,200 Total $ 3,915,500 $ - $ (712,100 ) $ 3,198,400 For the single combined performance obligation under the AffaMed Agreement, the measure of progress is stand-ready straight-line over the period in which we expect to perform the services related to the sublicense of PH94B. During the three six September 30, 2021, three six September 30, 2020. Contract Acquisition Costs During the quarter ended September 30, 2020, PH94B June 24, 2020, three six September 30, 2021, three six September 30, 2020. no The following table summarizes our contract acquisition costs for the six September 30, 2021. Balance at Balance at March 31, 2021 Additions Deductions September 30, 2021 Deferred Contract Acquisition Costs - current portion $ 133,500 $ - $ - $ 133,500 Deferred Contract Acquisition Costs - non-current portion 234,100 (66,900 ) 167,200 Total $ 367,600 $ - $ (66,900 ) $ 300,700 Research and Development Expenses Research and development expenses are composed of both internal and external costs. Internal costs include salaries and employment-related expenses, including stock-based compensation expense, of scientific personnel and direct project costs. External research and development expenses consist primarily of costs associated with clinical and nonclinical development of PH94B, PH10, 101, CRO not no PH94B PH10 March 31, 2019. Stock-Based Compensation We recognize compensation cost for all stock-based awards to employees, independent directors and non-employee consultants based on the grant date fair value of the award. We record non-cash, stock-based compensation expense over the period during which the employee or other grantee is required to perform services in exchange for the award, which generally represents the scheduled vesting period. We have not The table below summarizes stock-based compensation expense included in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Loss: Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Research and development expense $ 313,600 $ 122,400 $ 554,400 $ 349,000 General and administrative expense 450,900 288,500 800,500 736,500 Total stock-based compensation expense $ 764,500 $ 410,900 $ 1,354,900 $ 1,085,500 Expense amounts reported above include $14,400 and $16,700 in research and development expense for the three six September 30, 2021, three six September 30, 2021, 2019 2019 three six September 30, 2020, three six September 30, 2020, 2019 At our Annual Meeting of Stockholders held on September 17, 2021, 2019 Amended 2019 2019 six September 30, 2021, 2019 three Board first three twelve one first two six September 30, 2021 Assumption: Weighted Average Range Market price per share at grant date $ 2.71 $2.04 to 3.33 Exercise price per share $ 2.71 $2.04 to 3.33 Risk-free interest rate 0.99 % 0.78% to 1.12% Expected term in years 5.86 5.27 to 6.16 Volatility 82.20 % 80.05% to 83.48% Dividend rate 0.0 % 0.0% Shares granted 1,215,000 Fair Value per share $ 1.86 During the six September 30, 2021, September 30, 2021, 2016 2016 2019 2019 2016 Leases, Right-of-Use Assets and Lease Liabilities We account for our leases in accordance with Financial Accounting Standards Board ( FASB No. 2016 02 842 ASC 842 not The lease payments used to determine our operating lease assets include lease incentives and stated rent increases and may Our operating leases are reflected in right of use asset – operating leases, other current liabilities and non-current operating lease liability in our Condensed Consolidated Balance Sheets. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Short-term leases, defined as leases that have a lease term of 12 Our accounting for financing leases, previously referred to as “capital leases” under earlier guidance, remained substantially unchanged with our adoption of ASC 842. 10, Commitments and Contingencies, 842 Comprehensive Loss We have no Loss per Common Share Basic net loss attributable to common stockholders per share of common stock excludes the effect of dilution and is computed by dividing net loss increased by the accrual of dividends on outstanding shares of our Series B 10% Series B Preferred not As a result of our net loss for all periods presented, potentially dilutive securities were excluded from the computation of diluted net loss per share, as their effect would be antidilutive. Potentially dilutive securities excluded in determining diluted net loss attributable to common stockholders per common share are as follows: At September 30, At March 31, 2021 2021 Series A Preferred stock issued and outstanding (1) 750,000 750,000 Series B Preferred stock issued and outstanding (2) 1,131,669 1,131,669 Series C Preferred stock issued and outstanding (3) 2,318,012 2,318,012 Series D Preferred stock issued and outstanding (4) - 9,249,427 Outstanding options under the Company's Amended and Restated 2016 Stock Incentive Plan and Amended and Restated 2019 Omnibus Equity Incentive Plan 15,478,639 14,638,088 Outstanding warrants to purchase common stock 11,842,104 19,362,532 Total 31,520,424 47,449,728 ____________ ( 1 October 11, 2012 ( 2 10% May 5, 2015; ( 3 January 25, 2016 ( 4 December 21, 2020. Refer to Note 12, Subsequent Events September 30, 2021. Fair Value Measurements We do not September 30, 2021 March 31, 2021, 1 September 30, 2021 March 31, 2021. Recent Accounting Pronouncements We believe the following recent accounting pronouncement is of significance or potential significance to the Company. In August 2020, 2020 06, 470 20 815 40 ASU 2020 06 The guidance in ASU 2020 06 470 20, 470 20 not In addition, the amendments revise the scope exception from derivative accounting in ASC 815 40 not The amendments in ASU 2020 06 260, EPS may The amendments in ASU 2020 06 April 1, 2024. not 2020 06 Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not not

Note 4 - Receivable from Collab

Note 4 - Receivable from Collaboration Partner	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Collaborative Arrangement Receivable [Text Block]	Note 4. The balance at March 31, 2021 March 31, 2021 May 2021.

Note 5 - Prepaid Expenses and O

Note 5 - Prepaid Expenses and Other Current Assets	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Prepaid Expenses and Other Current Assets Disclosure [Text Block]	Note 5. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets are composed of the following: September 30, March 31, 2021 2021 Clinical and nonclinical materials and contract services $ 2,261,800 $ 686,900 Insurance 359,700 121,800 All other 55,300 26,400 $ 2,676,800 $ 835,100

Note 6 - Property and Equipment

Note 6 - Property and Equipment	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 6. Property and equipment is composed of the following: September 30, March 31, 2021 2021 Laboratory equipment $ 1,188,100 $ 1,003,800 Tenant improvements 214,400 214,400 Office furniture and equipment 92,100 92,100 Manufacturing equipment 211,200 211,200 Construction in progress 16,100 - 1,721,900 1,521,500 Accumulated depreciation and amortization (1,225,300 ) (1,154,100 ) Property and equipment, net $ 496,600 $ 367,400 We recorded depreciation and amortization expense of $36,700 and $71,200 for the three six September 30, 2021, three six September 30, 2020, six September 30, 2021, PH94B September 30, March 31, 2021 2021 Office equipment subject to financing lease $ 14,700 $ 14,700 Accumulated depreciation (13,900 ) (12,400 ) Net book value of office equipment subject to financing lease $ 800 $ 2,300

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	Note 7. Accrued Expenses Accrued expenses are composed of the following: September 30, March 31, 2021 2021 Accrued expenses for clinical and nonclinical materials, development and contract services $ 1,070,700 $ 1,449,400 Accrued compensation 1,992,000 - Accrued professional services 304,800 85,500 All other 62,600 27,800 $ 3,430,100 $ 1,562,700

Note 8 - Capital Stock

Note 8 - Capital Stock	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 8. Capital Stock Open Market Sale Agreement In May 2021, Sales Agreement Jefferies ATM may, Shares three may 415 4 1933, may may not may 3 March 15, 2021 March 26, 2021. Through September 30, 2021, 12, Subsequent Events October 1, 2021 October 6, 2021, not October 1, 2021. May 2021 September 30, 2021, Exercise and Expiration of Warrants During the six September 30, 2021, May 16, 2021, six September 30, 2020, 12, Subsequent Events September 30, 2021. Stock Option Exercises and ESPP Purchases During the six September 30, 2021, six September 30, 2020. June 30, 2021, 2019 2019 December 31, 2021. June 30, 2020, 2019 Common Stock Purchase Agreement with Lincoln Park Capital Fund In March 2020, Lincoln Park LPC Agreement March 24, 2020, Initial Purchase Shares Initial Purchase Commitment Shares 1 LPC Registration Statement March 31, 2020, April 14, 2020 ( Commencement Date March 24, 2020, July 2020, July 2020 June 2021, Conversion of Series D Preferred Stock As described in Note 2, Basis of Presentation December 2020 March 31, 2021, April 2021, December 2020 September 30, 2021. Warrants Outstanding The following table summarizes warrants outstanding and exercisable as of September 30, 2021. September 30, 2021 Warrants Outstanding Exercise and Exercisable at Price Expiration September 30, per Share Date 2021 $ 0.50 2/28/2022 to 3/31/2024 2,980,827 $ 0.73 7/25/2025 370,544 $ 0.805 12/31/2022 76,859 $ 1.50 12/13/2022 6,827,943 $ 1.82 3/7/2023 1,388,931 $ 3.51 12/31/2021 50,000 $ 7.00 3/3/2023 147,000 11,842,104 At September 30, 2021, No December 2019 two not December 4, 2021,

Note 9 - Related Party Transact

Note 9 - Related Party Transactions	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 9. Related Party Transactions Consulting Agreement During the six September 30, 2020, one three six September 30, 2020, May 2021, not September 30, 2020 no March 31, 2021 September 30, 2021

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 10. Operating Leases We lease our headquarters office and laboratory space in South San Francisco, California under the terms of a lease that expires on July 31, 2022 five 12, Subsequent Events five September 30, 2021. ASC 842 April 1, 2019, 842. not 842. The following table summarizes the presentation of the operating lease in our Condensed Consolidated Balance Sheet: As of September 30, 2021 As of March 31, 2021 Right of use asset – operating lease $ 3,029,100 $ 3,219,600 Liabilities Current operating lease obligation $ 401,000 $ 364,800 Non-current operating lease obligation 3,139,900 3,350,800 Total operating lease liability $ 3,540,900 $ 3,715,600 The following table summarizes the effect of operating lease costs in the Company’s Condensed Consolidated Statements of Operations: For the Three Months Ended September 30, For the Six Months Ended September 30, 2021 2020 2021 2020 Operating lease cost $ 210,800 $ 207,300 $ 446,500 $ 420,100 The minimum (base rental) lease payments related to our South San Francisco operating lease are expected to be as follows: Fiscal Years Ending March 31, 2022 (remaining six months) $ 338,000 2023 726,000 2024 766,000 2025 789,000 2026 812,700 Thereafter 1,118,700 Total lease expense 4,550,400 Less imputed interest (1,009,500 ) Present value of operating lease liabilities $ 3,540,900 The remaining lease term, including the assumed five As of September 30, 2021 Assumed remaining lease term in years 5.83 Assumed discount rate 8.54 % The interest rate implicit in lease contracts is typically not 842, Supplemental disclosure of cash flow information related to our operating lease included in cash flows used by operating activities in the Condensed Consolidated Statements of Cash Flows is as follows: For the Six Months Ended For the Six Months Ended September 30, 2021 September 30, 2020 Cash paid for amounts included in the measurement of lease liabilities $ 430,700 $ 393,100 During the six September 30, 2021, no We also lease a small office in the San Francisco Bay Area under a month-to-month arrangement at insignificant cost and have made an accounting policy election not 842 three September 30, 2021 2020, six September 30, 2021 2020,

Note 11 - Sublicensing and Coll

Note 11 - Sublicensing and Collaborative Agreements	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Collaborative Arrangement Disclosure [Text Block]	Note 11. PH94B On June 24, 2020, EverInsight Agreement October 2020, PH94B Territory PH94B Under the terms of the AffaMed Agreement, AffaMed is responsible for all costs related to developing, obtaining regulatory approval of, and commercializing PH94B PH94B We are responsible for pursuing clinical development and regulatory submissions of PH94B no 3 PH94B PH94B Under the terms of the AffaMed Agreement, AffaMed agreed to pay us a non-refundable upfront license payment of $5.0 million within 30 business days of the effective date of the AffaMed Agreement, and AffaMed paid the $5.0 million in August 2020. PH94B ten no may We have determined that we have one PH94B not Development and commercialization milestones were not We recognize revenue as the combined performance obligation is satisfied over time using an output method. The measure of progress is stand-ready straight-line over the period in which we expect to perform the services related to the license of PH94B. During the three six September 30, 2021, first three September 30, 2020, September 30, 2021, may 2023. Unless earlier terminated due to certain material breaches of the contract, or otherwise, the AffaMed Agreement will expire on a jurisdiction-by-jurisdiction basis until the latest to occur of expiration of the last valid claim under a licensed patent of PH94B ten first PH94B

Note 12 - Subsequent Events

Note 12 - Subsequent Events	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	Note 12. Subsequent Events We have evaluated subsequent events through the date of this Report and have identified the following matters requiring disclosure: Sales of Common Stock under the Sales Agreement As discussed in Note 8, Capital Stock October 1, 2021 October 6, 2021, not October 2, 2021 Exercise of Warrants From October 1, 2021 of 895,781 shares of our common stock and we have received cash proceeds of approximately $1,127,000. Grant of Options from 2019 From October 1, 2021 2019 ten first three Conversion of Series C Preferred Stock On October 11, 2021, Series C Preferred Extension of Operating Lease On October 14, 2021, Lease Amendment August 1, 2022 July 31, 2027 five five August 1, 2027. not may

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include those relating to revenue recognition, share-based compensation, right-of-use assets and lease liabilities and assumptions that have been used historically to value warrants and warrant modifications.
Revenue [Policy Text Block]	Revenue Recognition We generate revenue from collaborative research and development arrangements and licensing and technology transfer agreements, including strategic licenses or sublicenses. Until such time as we commence commercial sales of any of our product candidates following successful development, clinical and regulatory approval, we expect that our primary source of revenue beginning from the quarter ended September 30, 2020 PH94B August 2020, December 2016 BlueRock Therapeutics UHN 2019, Bayer Agreement third March 31, 2017. Under Accounting Standards Codification ( ASC 606, Revenue from Contracts with Customers (Topic 606 606, five five Performance Obligations We assess whether each promised good or service is distinct for the purpose of identifying the performance obligations in the contract. This assessment involves subjective determinations and requires judgments about the individual promised goods or services and whether such components are separable from the other aspects of the contractual relationship. In assessing whether a promised good or service is distinct in the evaluation of a collaboration arrangement subject to Topic 606, Collaboration arrangements can have several promised goods or services including a license for our intellectual property, product supply and development and regulatory services. When the customer could not one not Arrangements can include promises for optional additional items, which are considered marketing offers and are accounted for as separate contracts when the customer elects such options. Arrangements that include a promise for future supply of product for either clinical development or commercial supply and optional research and development services at the customer’s or the Company’s discretion are generally considered as options. We assess whether these options provide a material right to the customer and if so, such material rights are accounted for as separate performance obligations. When the customer exercises an option, any additional payments related to the option are recorded in revenue when the customer obtains control of the goods or services. Transaction Price Arrangements may not not not For sales-based royalties, including commercial milestone payments based on the level of sales, for which the license is deemed to be the predominant item to which the royalties relate, we recognize revenue at the later of when (a) the related sales occur, or (b) the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). In determining the transaction price, we adjust consideration for the effects of the time value of money if the timing of payments provides us with a significant benefit of financing. We do not one Allocation of Consideration As part of the accounting for collaboration arrangements, we must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. The transaction price is allocated to the identified performance obligations in proportion to their standalone selling prices ( SSP not not no Timing of Recognition Significant management judgment is required to determine the level of effort required under collaboration arrangements and the period over which we expect to complete our performance obligations under the arrangement. The performance period or measure of progress is estimated at the inception of the arrangement and re-evaluated in each reporting period. This re-evaluation may PH94B. The difference between revenue recognized to-date and the consideration invoiced or received to-date is recognized as either a contract asset/unbilled revenue (revenue earned exceeds cash received) or a contract liability/deferred revenue (cash received exceeds revenue earned). At September 30, 2021, six September 30, 2021: Balance at Balance at March 31, 2021 Additions Deductions September 30, 2021 Deferred Revenue - current portion $ 1,420,200 $ - $ - $ 1,420,200 Deferred Revenue - non-current portion 2,490,300 - (712,100 ) 1,778,200 Total $ 3,915,500 $ - $ (712,100 ) $ 3,198,400 For the single combined performance obligation under the AffaMed Agreement, the measure of progress is stand-ready straight-line over the period in which we expect to perform the services related to the sublicense of PH94B. During the three six September 30, 2021, three six September 30, 2020. Contract Acquisition Costs During the quarter ended September 30, 2020, PH94B June 24, 2020, three six September 30, 2021, three six September 30, 2020. no The following table summarizes our contract acquisition costs for the six September 30, 2021. Balance at Balance at March 31, 2021 Additions Deductions September 30, 2021 Deferred Contract Acquisition Costs - current portion $ 133,500 $ - $ - $ 133,500 Deferred Contract Acquisition Costs - non-current portion 234,100 (66,900 ) 167,200 Total $ 367,600 $ - $ (66,900 ) $ 300,700
Research and Development Expense, Policy [Policy Text Block]	Research and Development Expenses Research and development expenses are composed of both internal and external costs. Internal costs include salaries and employment-related expenses, including stock-based compensation expense, of scientific personnel and direct project costs. External research and development expenses consist primarily of costs associated with clinical and nonclinical development of PH94B, PH10, 101, CRO not no PH94B PH10 March 31, 2019.
Compensation Related Costs, Policy [Policy Text Block]	Stock-Based Compensation We recognize compensation cost for all stock-based awards to employees, independent directors and non-employee consultants based on the grant date fair value of the award. We record non-cash, stock-based compensation expense over the period during which the employee or other grantee is required to perform services in exchange for the award, which generally represents the scheduled vesting period. We have not The table below summarizes stock-based compensation expense included in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Loss: Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Research and development expense $ 313,600 $ 122,400 $ 554,400 $ 349,000 General and administrative expense 450,900 288,500 800,500 736,500 Total stock-based compensation expense $ 764,500 $ 410,900 $ 1,354,900 $ 1,085,500 Expense amounts reported above include $14,400 and $16,700 in research and development expense for the three six September 30, 2021, three six September 30, 2021, 2019 2019 three six September 30, 2020, three six September 30, 2020, 2019 At our Annual Meeting of Stockholders held on September 17, 2021, 2019 Amended 2019 2019 six September 30, 2021, 2019 three Board first three twelve one first two six September 30, 2021 Assumption: Weighted Average Range Market price per share at grant date $ 2.71 $2.04 to 3.33 Exercise price per share $ 2.71 $2.04 to 3.33 Risk-free interest rate 0.99 % 0.78% to 1.12% Expected term in years 5.86 5.27 to 6.16 Volatility 82.20 % 80.05% to 83.48% Dividend rate 0.0 % 0.0% Shares granted 1,215,000 Fair Value per share $ 1.86 During the six September 30, 2021, September 30, 2021, 2016 2016 2019 2019 2016
Lessee, Leases [Policy Text Block]	Leases, Right-of-Use Assets and Lease Liabilities We account for our leases in accordance with Financial Accounting Standards Board ( FASB No. 2016 02 842 ASC 842 not The lease payments used to determine our operating lease assets include lease incentives and stated rent increases and may Our operating leases are reflected in right of use asset – operating leases, other current liabilities and non-current operating lease liability in our Condensed Consolidated Balance Sheets. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Short-term leases, defined as leases that have a lease term of 12 Our accounting for financing leases, previously referred to as “capital leases” under earlier guidance, remained substantially unchanged with our adoption of ASC 842. 10, Commitments and Contingencies, 842
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Loss We have no
Earnings Per Share, Policy [Policy Text Block]	Loss per Common Share Basic net loss attributable to common stockholders per share of common stock excludes the effect of dilution and is computed by dividing net loss increased by the accrual of dividends on outstanding shares of our Series B 10% Series B Preferred not As a result of our net loss for all periods presented, potentially dilutive securities were excluded from the computation of diluted net loss per share, as their effect would be antidilutive. Potentially dilutive securities excluded in determining diluted net loss attributable to common stockholders per common share are as follows: At September 30, At March 31, 2021 2021 Series A Preferred stock issued and outstanding (1) 750,000 750,000 Series B Preferred stock issued and outstanding (2) 1,131,669 1,131,669 Series C Preferred stock issued and outstanding (3) 2,318,012 2,318,012 Series D Preferred stock issued and outstanding (4) - 9,249,427 Outstanding options under the Company's Amended and Restated 2016 Stock Incentive Plan and Amended and Restated 2019 Omnibus Equity Incentive Plan 15,478,639 14,638,088 Outstanding warrants to purchase common stock 11,842,104 19,362,532 Total 31,520,424 47,449,728 ____________ ( 1 October 11, 2012 ( 2 10% May 5, 2015; ( 3 January 25, 2016 ( 4 December 21, 2020. Refer to Note 12, Subsequent Events September 30, 2021.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements We do not September 30, 2021 March 31, 2021, 1 September 30, 2021 March 31, 2021.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements We believe the following recent accounting pronouncement is of significance or potential significance to the Company. In August 2020, 2020 06, 470 20 815 40 ASU 2020 06 The guidance in ASU 2020 06 470 20, 470 20 not In addition, the amendments revise the scope exception from derivative accounting in ASC 815 40 not The amendments in ASU 2020 06 260, EPS may The amendments in ASU 2020 06 April 1, 2024. not 2020 06 Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not not

Note 3 - Summary of Significa_2

Note 3 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Balance at Balance at March 31, 2021 Additions Deductions September 30, 2021 Deferred Revenue - current portion $ 1,420,200 $ - $ - $ 1,420,200 Deferred Revenue - non-current portion 2,490,300 - (712,100 ) 1,778,200 Total $ 3,915,500 $ - $ (712,100 ) $ 3,198,400
Capitalized Contract Cost [Table Text Block]	Balance at Balance at March 31, 2021 Additions Deductions September 30, 2021 Deferred Contract Acquisition Costs - current portion $ 133,500 $ - $ - $ 133,500 Deferred Contract Acquisition Costs - non-current portion 234,100 (66,900 ) 167,200 Total $ 367,600 $ - $ (66,900 ) $ 300,700
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Research and development expense $ 313,600 $ 122,400 $ 554,400 $ 349,000 General and administrative expense 450,900 288,500 800,500 736,500 Total stock-based compensation expense $ 764,500 $ 410,900 $ 1,354,900 $ 1,085,500
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Assumption: Weighted Average Range Market price per share at grant date $ 2.71 $2.04 to 3.33 Exercise price per share $ 2.71 $2.04 to 3.33 Risk-free interest rate 0.99 % 0.78% to 1.12% Expected term in years 5.86 5.27 to 6.16 Volatility 82.20 % 80.05% to 83.48% Dividend rate 0.0 % 0.0% Shares granted 1,215,000 Fair Value per share $ 1.86
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	At September 30, At March 31, 2021 2021 Series A Preferred stock issued and outstanding (1) 750,000 750,000 Series B Preferred stock issued and outstanding (2) 1,131,669 1,131,669 Series C Preferred stock issued and outstanding (3) 2,318,012 2,318,012 Series D Preferred stock issued and outstanding (4) - 9,249,427 Outstanding options under the Company's Amended and Restated 2016 Stock Incentive Plan and Amended and Restated 2019 Omnibus Equity Incentive Plan 15,478,639 14,638,088 Outstanding warrants to purchase common stock 11,842,104 19,362,532 Total 31,520,424 47,449,728

Note 5 - Prepaid Expenses and_2

Note 5 - Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	September 30, March 31, 2021 2021 Clinical and nonclinical materials and contract services $ 2,261,800 $ 686,900 Insurance 359,700 121,800 All other 55,300 26,400 $ 2,676,800 $ 835,100

Note 6 - Property and Equipme_2

Note 6 - Property and Equipment (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, March 31, 2021 2021 Laboratory equipment $ 1,188,100 $ 1,003,800 Tenant improvements 214,400 214,400 Office furniture and equipment 92,100 92,100 Manufacturing equipment 211,200 211,200 Construction in progress 16,100 - 1,721,900 1,521,500 Accumulated depreciation and amortization (1,225,300 ) (1,154,100 ) Property and equipment, net $ 496,600 $ 367,400
Schedule of Finance Leased Assets [Table Text Block]	September 30, March 31, 2021 2021 Office equipment subject to financing lease $ 14,700 $ 14,700 Accumulated depreciation (13,900 ) (12,400 ) Net book value of office equipment subject to financing lease $ 800 $ 2,300

Note 7 - Accrued Expenses (Tabl

Note 7 - Accrued Expenses (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30, March 31, 2021 2021 Accrued expenses for clinical and nonclinical materials, development and contract services $ 1,070,700 $ 1,449,400 Accrued compensation 1,992,000 - Accrued professional services 304,800 85,500 All other 62,600 27,800 $ 3,430,100 $ 1,562,700

Note 8 - Capital Stock (Tables)

Note 8 - Capital Stock (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Warrants Outstanding Exercise and Exercisable at Price Expiration September 30, per Share Date 2021 $ 0.50 2/28/2022 to 3/31/2024 2,980,827 $ 0.73 7/25/2025 370,544 $ 0.805 12/31/2022 76,859 $ 1.50 12/13/2022 6,827,943 $ 1.82 3/7/2023 1,388,931 $ 3.51 12/31/2021 50,000 $ 7.00 3/3/2023 147,000 11,842,104

Note 10 - Commitments and Con_2

Note 10 - Commitments and Contingencies (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Lessee, Operating Lease, Assets and Liabilities [Table Text Block]	As of September 30, 2021 As of March 31, 2021 Right of use asset – operating lease $ 3,029,100 $ 3,219,600 Liabilities Current operating lease obligation $ 401,000 $ 364,800 Non-current operating lease obligation 3,139,900 3,350,800 Total operating lease liability $ 3,540,900 $ 3,715,600
Lease, Cost [Table Text Block]	For the Three Months Ended September 30, For the Six Months Ended September 30, 2021 2020 2021 2020 Operating lease cost $ 210,800 $ 207,300 $ 446,500 $ 420,100
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Fiscal Years Ending March 31, 2022 (remaining six months) $ 338,000 2023 726,000 2024 766,000 2025 789,000 2026 812,700 Thereafter 1,118,700 Total lease expense 4,550,400 Less imputed interest (1,009,500 ) Present value of operating lease liabilities $ 3,540,900
Lessee, Operating Lease, Other Disclosures [Table Text Block]	As of September 30, 2021 Assumed remaining lease term in years 5.83 Assumed discount rate 8.54 % For the Six Months Ended For the Six Months Ended September 30, 2021 September 30, 2020 Cash paid for amounts included in the measurement of lease liabilities $ 430,700 $ 393,100

Note 1 - Description of Busin_2

Note 1 - Description of Business (Details Textual)	Sep. 30, 2021
Number of Subsidiaries	2
Clinical-stage Central Nervous System (CNS) Products [Member]
Number of Product Candidates	3

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation (Details Textual) - USD ($)	Oct. 01, 2021	Dec. 31, 2020	Aug. 31, 2020	Aug. 30, 2020	Jun. 24, 2020	Nov. 10, 2021	May 31, 2021	Aug. 31, 2020	Mar. 01, 2021	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021	Sep. 30, 2021
Retained Earnings (Accumulated Deficit), Ending Balance											$ (240,380,600)	$ (240,380,600)		$ (240,380,600)		$ (219,841,600)	$ (240,380,600)
Proceeds from Issuance of Debt and Equity Securities																$ 119,000,000	206,400,000
Proceeds from Government Research Grant Awards																	22,700,000
Stock Issued During Period, Value, Settlement of Liabilities																	$ 38,200,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)									6,396,302		4,814,545	4,814,545		4,814,545			4,814,545
Proceeds from Warrant Exercises									$ 4,900,000			$ 4,254,800	$ 114,000
Stock Issued During Period, Shares, New Issues (in shares)		63,000,000	15,625,000
Proceeds from Issuance of Common Stock			$ 12,500,000
Shares Issued, Price Per Share (in dollars per share)		$ 0.92	$ 0.80					$ 0.80
Preferred Stock, Par or Stated Value Per Share (in dollars per share)											$ 0.001	$ 0.001		$ 0.001		$ 0.001	$ 0.001
Proceeds from Issuance or Sale of Equity, Total		$ 100,000,000
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares)										46,000,000
Proceeds from Sale of Equity, Net of Expenses		$ 93,600,000	$ 12,900,000
Cash and Cash Equivalents, at Carrying Value, Ending Balance											$ 93,627,100	$ 93,627,100		$ 93,627,100		$ 103,108,300	$ 93,627,100
Collaborative Arrangement, AffaMed Agreement [Member] | License [Member]
Upfront License Payment			5,000,000	$ 5,000,000	$ 5,000,000			$ 5,000,000
Proceeds From Upfront License Payment			$ 4,655,000
Series D Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)		2,000,000								2,000,000
Shares Issued, Price Per Share (in dollars per share)		$ 21.16
Preferred Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.001
Subsequent Event [Member]
Proceeds from Warrant Exercises	$ 1,127,000
ATM Facility [Member]
Proceeds from Issuance of Common Stock														$ 3,999,100	$ 0
ATM Facility [Member] | Jefferies LLC [Member]
Stock Sales Agreement, Maximum Aggregate Offering Price							$ 75,000,000				$ 75,000,000
Stock Issued During Period, Shares, New Issues (in shares)											1,502,378
Proceeds from Issuance of Common Stock											$ 4,400,000
ATM Facility [Member] | Jefferies LLC [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues (in shares)	15,420					0
Proceeds from Issuance of Common Stock	$ 42,600
Over-Allotment Option [Member]
Stock Issued During Period, Shares, New Issues (in shares)			2,243,250
Proceeds from Issuance of Common Stock			$ 1,800,000
Open Market Sale Agreement [Member]
Proceeds from Issuance of Common Stock												$ 4,300,000
Open Market Sale Agreement [Member] | Jefferies LLC [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues (in shares)	15,420					0
Proceeds from Issuance of Common Stock	$ 42,600

Note 3 - Summary of Significa_3

Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	Apr. 01, 2021	Aug. 31, 2020	Aug. 30, 2020	Jun. 24, 2020	Aug. 31, 2020	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2017	Sep. 30, 2021	Sep. 30, 2020	Sep. 16, 2021	Mar. 31, 2021	Sep. 17, 2019
Revenue from Contract with Customer, Including Assessed Tax						$ 358,000		$ 334,000			$ 712,100	$ 334,000
Stock Issued During Period, Value, Issued for Services									$ 125,000
Share-based Payment Arrangement, Expense						764,500		410,900			1,354,900	1,085,500
Fair Value, Recurring [Member]
Financial Liabilities Fair Value Disclosure, Total						0					0			$ 0
Fair Value, Recurring [Member] | Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and Cash Equivalents, Fair Value Disclosure						80,085,100					80,085,100			90,074,700
Research and Development Expense [Member]
Share-based Payment Arrangement, Expense						313,600		122,400			554,400	349,000
General and Administrative Expense [Member]
Share-based Payment Arrangement, Expense						450,900		288,500			800,500	736,500
The 2019 Employee Stock Purchase Plan [Member] | Research and Development Expense [Member]
Share-based Payment Arrangement, Expense						14,400		1,300			16,700	3,800
The 2019 Employee Stock Purchase Plan [Member] | General and Administrative Expense [Member]
Share-based Payment Arrangement, Expense						$ 5,900		1,300			$ 8,600	2,800
Amended 2019 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)											1,215,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)											274,449
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)											$ 0.76
Proceeds from Stock Options Exercised											$ 58,000
Stock Issued During Period Shares Stock Options Exercised, Net (in shares)											224,950
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)						11,277,657					11,277,657
Amended 2019 Plan [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)											225,000
Amended 2019 Plan [Member] | Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)											190,000
Amended 2019 Plan [Member] | Share-based Payment Arrangement, Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)											800,000
The 2016 and Amended 2019 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)						15,478,639					15,478,639
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)						$ 1.46					$ 1.46
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted (in shares)											0
Share-based Payment Arrangement, Option [Member] | The 2019 Omnibus Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)													7,500,000
Share-based Payment Arrangement, Option [Member] | The 2019 Omnibus Equity Incentive Plan [Member] | Vesting Period, First Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage							25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)							1 year
Share-based Payment Arrangement, Option [Member] | The 2019 Omnibus Equity Incentive Plan [Member] | Vesting Over Three Years [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-based Payment Arrangement, Option [Member] | The 2019 Omnibus Equity Incentive Plan [Member] | One Consultant [Member] | Vesting Period, First Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage											25.00%
Share-based Payment Arrangement, Option [Member] | The 2019 Omnibus Equity Incentive Plan [Member] | One Consultant [Member] | Vesting After First Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)											2 years
Share-based Payment Arrangement, Option [Member] | Amended 2019 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)															18,000,000
Share-based Payment Arrangement, Option [Member] | The 2016 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)							0
License [Member]
Revenue from Contract with Customer, Including Assessed Tax						$ 358,000		334,000			$ 712,100	334,000
Contract with Customer, Liability, Total						3,198,400					3,198,400			$ 3,915,500
Contract with Customer, Liability, Revenue Recognized											712,100
Collaborative Arrangement, AffaMed Agreement [Member]
Sublicense Fees								345,000
Stock Issued During Period, Shares, Issued for Services (in shares)				233,645
Stock Issued During Period, Value, Issued for Services				$ 125,000
Capitalized Contract Cost, Gross				470,000
Capitalized Contract Cost, Amortization						33,600		31,400			66,900	31,400
Collaborative Arrangement, AffaMed Agreement [Member] | License [Member]
Upfront License Payment		$ 5,000,000	$ 5,000,000	$ 5,000,000	$ 5,000,000
Revenue from Contract with Customer, Including Assessed Tax						358,000		334,000		$ 1,250,000	712,100	3,198,400
Contract with Customer, Liability, Total						3,198,400					3,198,400
Contract with Customer, Liability, Revenue Recognized						$ 358,000		$ 334,000			$ 712,100	$ 334,000

Note 3 - Summary of Significa_4

Note 3 - Summary of Significant Accounting Policies - Schedule of Changes in Contract Liabilities (Details)	6 Months Ended
	Sep. 30, 2021USD ($)
Deferred Revenue, Current	$ 1,420,200
Deferred Revenue, Current	1,420,200
Deferred Revenue, Non-current	2,490,300
Deferred Revenue, Non-current	1,778,200
License [Member]
Deferred Revenue, Additions	0
Deferred Revenue, Deductions	(712,100)
Deferred Revenue	3,915,500
Deferred Revenue	3,198,400
Contract with Customer, Liability, Current [Member] | License [Member]
Deferred Revenue, Current	1,420,200
Deferred Revenue, Additions	0
Deferred Revenue, Deductions	0
Deferred Revenue, Current	1,420,200
Contract with Customer, Liability, Non-current [Member] | License [Member]
Deferred Revenue, Additions	0
Deferred Revenue, Deductions	(712,100)
Deferred Revenue, Non-current	2,490,300
Deferred Revenue, Non-current	$ 1,778,200

Note 3 - Summary of Significa_5

Note 3 - Summary of Significant Accounting Policies - Schedule of Contract Acquisition Costs (Details)	6 Months Ended
	Sep. 30, 2021USD ($)
Deferred Contract Acquisition Costs - current portion	$ 133,500
Deferred Contract Acquisition Costs, Additions	0
Deferred Contract Acquisition Costs, Deductions	0
Deferred Contract Acquisition Costs - current portion	133,500
Deferred Contract Acquisition Costs - non-current portion	234,100
Deferred Contract Acquisition Costs, Deductions	(66,900)
Deferred Contract Acquisition Costs - non-current portion	167,200
Total	367,600
Deferred Contract Acquisition Costs	0
Deferred Contract Acquisition Costs	(66,900)
Total	$ 300,700

Note 3 - Summary of Significa_6

Note 3 - Summary of Significant Accounting Policies - Schedule of Stock-based Compensation Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Expense	$ 764,500	$ 410,900	$ 1,354,900	$ 1,085,500
Research and Development Expense [Member]
Share-based Payment Arrangement, Expense	313,600	122,400	554,400	349,000
General and Administrative Expense [Member]
Share-based Payment Arrangement, Expense	$ 450,900	$ 288,500	$ 800,500	$ 736,500

Note 3 - Summary of Significa_7

Note 3 - Summary of Significant Accounting Policies - Schedule of Fair Value of Options Granted - Black-Scholes Option Pricing Model (Details)	6 Months Ended
	Sep. 30, 2021$ / sharesshares
Dividend rate	0.00%
Dividend rate	0.00%
Share-based Payment Arrangement, Option [Member]
Shares granted (in shares) | shares	1,215,000
Fair Value per share (in dollars per share)	$ 1.86
Share-based Payment Arrangement, Option [Member] | Weighted Average [Member]
Market price per share at grant date (in dollars per share)	2.71
Market price per share at grant date (in dollars per share)	2.71
Exercise price per share (in dollars per share)	2.71
Exercise price per share (in dollars per share)	$ 2.71
Risk-free interest rate	0.99%
Risk-free interest rate	0.99%
Expected term in years (Year)	5 years 10 months 9 days
Expected term in years (Year)	5 years 10 months 9 days
Volatility	82.20%
Dividend rate	0.00%
Dividend rate	0.00%
Share-based Payment Arrangement, Option [Member] | Minimum [Member]
Market price per share at grant date (in dollars per share)	$ 2.04
Market price per share at grant date (in dollars per share)	2.04
Exercise price per share (in dollars per share)	2.04
Exercise price per share (in dollars per share)	$ 2.04
Risk-free interest rate	0.78%
Risk-free interest rate	0.78%
Expected term in years (Year)	5 years 3 months 7 days
Expected term in years (Year)	5 years 3 months 7 days
Volatility	80.05%
Share-based Payment Arrangement, Option [Member] | Maximum [Member]
Market price per share at grant date (in dollars per share)	$ 3.33
Market price per share at grant date (in dollars per share)	3.33
Exercise price per share (in dollars per share)	3.33
Exercise price per share (in dollars per share)	$ 3.33
Risk-free interest rate	1.12%
Risk-free interest rate	1.12%
Expected term in years (Year)	6 years 1 month 28 days
Expected term in years (Year)	6 years 1 month 28 days
Volatility	83.48%

Note 3 - Summary of Significa_8

Note 3 - Summary of Significant Accounting Policies - Schedule of Potentially Dilutive Securities Excluded From Earnings Per Share Computation (Details) - shares		6 Months Ended	12 Months Ended
		Sep. 30, 2021	Mar. 31, 2021
Antidilutive Securities (in shares)		31,520,424	47,449,728
Share-based Payment Arrangement, Option [Member] | The 2019 Omnibus Equity Incentive Plan [Member]
Antidilutive Securities (in shares)		15,478,639	14,638,088
Warrant [Member]
Antidilutive Securities (in shares)		11,842,104	19,362,532
Series A Preferred Stock [Member]
Antidilutive Securities (in shares)	[1]	750,000	750,000
Series B Preferred Stock [Member]
Antidilutive Securities (in shares)	[2]	1,131,669	1,131,669
Series C Preferred Stock [Member]
Antidilutive Securities (in shares)	[3]	2,318,012	2,318,012
Series D Preferred Stock [Member]
Antidilutive Securities (in shares)	[4]	0	9,249,427
[1]	Assumes exchange under the terms of the October 11, 2012 Note Exchange and Purchase Agreement, as amended
[2]	Assumes exchange under the terms of the Certificate of Designation of the Relative Rights and Preferences of the Series B 10% Convertible Preferred Stock, effective May 5, 2015; excludes shares of unregistered common stock issuable in payment of dividends on Series B Preferred upon conversion
[3]	Assumes exchange under the terms of the Certificate of Designation of the Relative Rights and Preferences of the Series C Convertible Preferred Stock, effective January 25, 2016
[4]	Based on exchanges under the terms of the Certificate of Designation of the Relative Rights and Preferences of the Series D Convertible Preferred Stock, effective December 21, 2020.

Note 5 - Prepaid Expenses and_3

Note 5 - Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)	Sep. 30, 2021	Mar. 31, 2021
Prepaid Expense and Other Assets, Current	$ 2,676,800	$ 835,100
Prepaid Expenses and Other Current Assets [Member]
Clinical and nonclinical materials and contract services	2,261,800	686,900
Insurance	359,700	121,800
Other Assets	55,300	26,400
Prepaid Expense and Other Assets, Current	$ 2,676,800	$ 835,100

Note 6 - Property and Equipme_3

Note 6 - Property and Equipment (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Depreciation, Depletion and Amortization, Total	$ 36,700	$ 25,500	$ 71,200	$ 50,900

Note 6 - Property and Equipme_4

Note 6 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Sep. 30, 2021	Mar. 31, 2021
Laboratory equipment	$ 1,721,900	$ 1,521,500
Accumulated depreciation and amortization	(1,225,300)	(1,154,100)
Property and equipment, net	496,600	367,400
Laboratory Equipment [Member]
Laboratory equipment	1,188,100	1,003,800
Tenant Improvements [Member]
Laboratory equipment	214,400	214,400
Office Furniture And Equipment [Member]
Laboratory equipment	92,100	92,100
Manufacturing Equipment [Member]
Laboratory equipment	211,200	211,200
Construction in Progress [Member]
Laboratory equipment	$ 16,100	$ 0

Note 6 - Property and Equipme_5

Note 6 - Property and Equipment - Schedule of Assets Subject to Financing Lease (Details) - Office Furniture And Equipment [Member] - USD ($)	Sep. 30, 2021	Mar. 31, 2021
Office equipment subject to financing lease	$ 14,700	$ 14,700
Accumulated depreciation	(13,900)	(12,400)
Net book value of office equipment subject to financing lease	$ 800	$ 2,300

Note 7 - Accrued Expenses - Sch

Note 7 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)	Sep. 30, 2021	Mar. 31, 2021
Accrued expenses for clinical and nonclinical materials, development and contract services	$ 1,070,700	$ 1,449,400
Accrued compensation	1,992,000	0
Accrued professional services	304,800	85,500
Other Accrued Liabilities	62,600	27,800
Accrued Liabilities, Current, Total	$ 3,430,100	$ 1,562,700

Note 8 - Capital Stock (Details

Note 8 - Capital Stock (Details Textual) - USD ($)	Oct. 01, 2021	May 16, 2021	Dec. 31, 2020	Aug. 31, 2020	Mar. 24, 2020	Nov. 10, 2021	May 31, 2021	Apr. 30, 2021	Mar. 31, 2020	Mar. 01, 2021	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Jul. 31, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 01, 2021	Oct. 06, 2021	Mar. 31, 2021
Stock Issued During Period, Shares, New Issues (in shares)			63,000,000	15,625,000
Proceeds from Issuance of Common Stock				$ 12,500,000
Deferred Offering Costs, Noncurrent											$ 321,600					$ 321,600	$ 321,600		$ 321,600				$ 294,900
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)										6,396,302	4,814,545					4,814,545	4,814,545		4,814,545
Proceeds from Warrant Exercises										$ 4,900,000							$ 4,254,800	$ 114,000
Class of Warrant or Right, Expired During Period (in shares)		2,705,883
Class of Warrant or Right, Expired During Period, Exercise Price (in dollars per share)		$ 5.30
Class of Warrant or Right, Warrants, Exercised, Number (in shares)																		228,000
Stock Issued During Period, Value, Employee Stock Purchase Plan												$ 31,600		$ 12,600
Shares Issued, Price Per Share (in dollars per share)			$ 0.92	$ 0.80
Stock Issued During Period, Value, New Issues													$ 49,300
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares)												46,000,000
The 2019 Employee Stock Purchase Plan [Member]
Class of Warrant or Right, Weighted Average Exercise Price (in dollars per share)																	$ 1.33
Class of Warrant or Right Outstanding, ExpirationPeriod, March 2023 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)											$ 7					$ 7	7		$ 7
Class of Warrant or Right, Modified [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)											$ 0.50					$ 0.50	$ 0.50		$ 0.50
Class of Warrant or Right, Warrants, Exercisable, Number (in shares)											2,000,000					2,000,000	2,000,000		2,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights, After Reduction (in dollars per share)											$ 0.50					$ 0.50	$ 0.50		$ 0.50
Class of Warrant or Right, Exercise Price of Warrants or Rights, Reduction Period (Year)																	2 years
Class of Warrant or Right, Modified [Member] | Minimum [Member]
Class of Warrant or Right, Covenant, Pre-modification, Exercise Price of Warrants or Rights (in dollars per share)											1.50					1.50	$ 1.50		1.50
Class of Warrant or Right, Modified [Member] | Maximum [Member]
Class of Warrant or Right, Covenant, Pre-modification, Exercise Price of Warrants or Rights (in dollars per share)											$ 2.24					$ 2.24	$ 2.24		$ 2.24
The 2019 Omnibus Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)																		0
Amended 2019 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)																	274,449
Proceeds from Stock Options Exercised																	$ 58,000
Stock Issued During Period Shares Stock Options Exercised, Net (in shares)																	224,950
The 2019 Employee Stock Purchase Plan [Member]
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)												16,251		28,125
Stock Issued During Period, Value, Employee Stock Purchase Plan												$ 31,600		$ 12,600
Subsequent Event [Member]
Proceeds from Warrant Exercises	$ 1,127,000
Class of Warrant or Right, Warrants, Exercised, Number (in shares)	895,781
Series D Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)			2,000,000									2,000,000
Shares Issued, Price Per Share (in dollars per share)			$ 21.16
Preferred Stock, Shares Outstanding, Ending Balance (in shares)											0					0	0		0				402,149
Jefferies LLC [Member] | ATM Facility [Member]
Stock Issued During Period, Shares, New Issues (in shares)																1,502,378
ATM Facility [Member]
Proceeds from Issuance of Common Stock																			$ 3,999,100	$ 0
Stock Issued During Period, Value, New Issues											$ 4,257,800
ATM Facility [Member] | Jefferies LLC [Member]
Stock Sales Agreement, Maximum Aggregate Offering Price							$ 75,000,000									$ 75,000,000
Stock Sales Agreement, Commission on Shares Sold, Percentage							3.00%
Stock Issued During Period, Shares, New Issues (in shares)																1,502,378
Proceeds from Issuance of Common Stock																$ 4,400,000
ATM Facility [Member] | Jefferies LLC [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues (in shares)	15,420					0
Proceeds from Issuance of Common Stock	$ 42,600
Deferred Offering Costs, Noncurrent																						$ 276,100
Common Stock Purchase Agreement With Lincoln Park Capital Fund [Member]
Stock Issued During Period, Value, New Issues														$ 2,747,500
Common Stock Purchase Agreement With Lincoln Park Capital Fund [Member] | Lincoln Park Capital Fund [Member]
Stock Issued During Period, Shares, New Issues (in shares)															6,301,995						0
Stock Purchase Agreement, Maximum Value of Committed Shares									$ 10,250,000
Stock Purchase Agreement, Purchase Period (Month)									24 months
Stock Issued During Period, Value, New Issues															$ 2,891,200
Deferred Offering Costs												$ 232,100
Common Stock Purchase Agreement With Lincoln Park Capital Fund, Initial Purchase [Member] | Lincoln Park Capital Fund [Member]
Stock Issued During Period, Shares, New Issues (in shares)					500,000
Shares Issued, Price Per Share (in dollars per share)					$ 0.50
Stock Issued During Period, Value, New Issues					$ 250,000
Common Stock Purchase Agreement With Lincoln Park Capital Fund, Commitment Shares [Member] | Lincoln Park Capital Fund [Member]
Stock Issued During Period, Shares, New Issues (in shares)					750,000
Stock Issued During Period, Value, New Issues					$ 284,400
The 2020 December Public Offering [Member] | Series D Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)												2,000,000
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares)								9,249,427				46,000,000
Preferred Stock, Shares Outstanding, Ending Balance (in shares)											0					0	0		0				402,149

Note 8 - Capital Stock - Schedu

Note 8 - Capital Stock - Schedule of Warrants (Details)	Sep. 30, 2021$ / sharesshares
Class of Warrant or Right, Outstanding (in shares)	11,842,104
Class of Warrant or Right, Outstanding, Expiration Period, 2024 [Member]
Class of Warrant or Right, Exercise Price (in dollars per share) | $ / shares	$ 0.50
Class of Warrant or Right, Outstanding (in shares)	2,980,827
Class of Warrant or Right, Outstanding, Expiration Period, 2025 [Member]
Class of Warrant or Right, Exercise Price (in dollars per share) | $ / shares	$ 0.73
Class of Warrant or Right, Outstanding (in shares)	370,544
Class of Warrant or Right, Outstanding, Expiration Period, 2022 [Member]
Class of Warrant or Right, Exercise Price (in dollars per share) | $ / shares	$ 0.805
Class of Warrant or Right, Outstanding (in shares)	76,859
Class of Warrant or Right Outstanding, Expiration Period, December 2022 [Member]
Class of Warrant or Right, Exercise Price (in dollars per share) | $ / shares	$ 1.50
Class of Warrant or Right, Outstanding (in shares)	6,827,943
Class of Warrant or Right Outstanding, ExpirationPeriod, 2023 [Member]
Class of Warrant or Right, Exercise Price (in dollars per share) | $ / shares	$ 1.82
Class of Warrant or Right, Outstanding (in shares)	1,388,931
Class of Warrant or Right Outstanding, Expiration Period, 2021 [Member]
Class of Warrant or Right, Exercise Price (in dollars per share) | $ / shares	$ 3.51
Class of Warrant or Right, Outstanding (in shares)	50,000
Class of Warrant or Right Outstanding, ExpirationPeriod, March 2023 [Member]
Class of Warrant or Right, Exercise Price (in dollars per share) | $ / shares	$ 7
Class of Warrant or Right, Outstanding (in shares)	147,000

Note 9 - Related Party Transa_2

Note 9 - Related Party Transactions (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Research and Development Expense, Total	$ 10,066,700	$ 2,358,200	$ 15,670,300	$ 4,089,400
Consulting Firm [Member]
Research and Development Expense, Total		13,000		28,000
Accounts Payable and Accrued Liabilities, Current, Total	$ 0	$ 13,000	$ 0	$ 13,000	$ 0

Note 10 - Commitments and Con_3

Note 10 - Commitments and Contingencies (Details Textual) - CALIFORNIA - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Office and Laboratory Space Agreement [Member]
Lessee, Operating Lease, Renewal Term (Year)	5 years		5 years
Small Office in San Francisco [Member]
Short-term Lease, Cost	$ 3,500	$ 3,500	$ 7,100	$ 7,100

Note 10 - Commitments and Con_4

Note 10 - Commitments and Contingencies - Schedule of Operating Lease (Details) - USD ($)	Sep. 30, 2021	Mar. 31, 2021
Right of use asset – operating lease	$ 3,029,100	$ 3,219,600
Current operating lease obligation	401,000	364,800
Non-current operating lease obligation	3,139,900	3,350,800
Total operating lease liability	$ 3,540,900	$ 3,715,600

Note 10 - Commitments and Con_5

Note 10 - Commitments and Contingencies - Schedule of Operating Lease Costs (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating lease cost	$ 210,800	$ 207,300	$ 446,500	$ 420,100

Note 10 - Commitments and Con_6

Note 10 - Commitments and Contingencies - Schedule of Operating Lease Minimum Payments (Details) - USD ($)	Sep. 30, 2021	Mar. 31, 2021
2022 (remaining six months)	$ 338,000
2023	726,000
2024	766,000
2025	789,000
2026	812,700
Thereafter	1,118,700
Total lease expense	4,550,400
Less imputed interest	(1,009,500)
Present value of operating lease liabilities	$ 3,540,900	$ 3,715,600

Note 10 - Commitments and Con_7

Note 10 - Commitments and Contingencies - Schedule of Operating Lease Other Disclosures (Details) - USD ($)	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Assumed remaining lease term in years (Year)	5 years 9 months 29 days
Assumed discount rate	8.54%
Cash paid for amounts included in the measurement of lease liabilities	$ 430,700	$ 393,100

Note 11 - Sublicensing and Co_2

Note 11 - Sublicensing and Collaborative Agreements (Details Textual)	Aug. 31, 2020USD ($)	Aug. 30, 2020USD ($)	Jun. 24, 2020USD ($)	Aug. 31, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Mar. 31, 2017USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Revenue from Contract with Customer, Including Assessed Tax					$ 358,000	$ 334,000		$ 712,100	$ 334,000
License [Member]
Revenue from Contract with Customer, Including Assessed Tax					358,000	334,000		712,100	334,000
Collaborative Arrangement, AffaMed Agreement [Member] | License [Member]
Upfront License Payment	$ 5,000,000	$ 5,000,000	$ 5,000,000	$ 5,000,000
Revenue from Contract with Customer, Payment Period (Day)			30 days
Revenue Recognition, Milestone Method, Maximum Milestone Payments Permitted			$ 172,000,000
Revenue, Remaining Number of Combined Performance Obligations			1
Revenue from Contract with Customer, Including Assessed Tax					$ 358,000	$ 334,000	$ 1,250,000	$ 712,100	$ 3,198,400
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year					2023			2023

Note 12 - Subsequent Events (De

Note 12 - Subsequent Events (Details Textual) - USD ($)	Oct. 11, 2021	Oct. 01, 2021	Apr. 01, 2021	Dec. 31, 2020	Aug. 31, 2020	Nov. 10, 2021	Mar. 01, 2021	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Oct. 14, 2021
Stock Issued During Period, Shares, New Issues (in shares)				63,000,000	15,625,000
Proceeds from Issuance of Common Stock					$ 12,500,000
Class of Warrant or Right, Warrants, Exercised, Number (in shares)										228,000
Proceeds from Warrant Exercises							$ 4,900,000		$ 4,254,800	$ 114,000
The 2019 Omnibus Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Vesting Period, First Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage								25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)								1 year
The 2019 Omnibus Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Vesting Over Three Years [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			3 years
Open Market Sale Agreement [Member]
Proceeds from Issuance of Common Stock									$ 4,300,000
Subsequent Event [Member]
Class of Warrant or Right, Warrants, Exercised, Number (in shares)		895,781
Proceeds from Warrant Exercises		$ 1,127,000
Lessee, Operating Lease, Renewal Term (Year)											5 years
Subsequent Event [Member] | Conversion of Series C Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)	2,318,012
Conversion of Stock, Shares Issued (in shares)	2,318,012
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	0
Subsequent Event [Member] | The 2019 Omnibus Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)		250,000
Subsequent Event [Member] | The 2019 Omnibus Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		10 years
Subsequent Event [Member] | The 2019 Omnibus Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Vesting Period, First Anniversary [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		1 year
Subsequent Event [Member] | The 2019 Omnibus Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Vesting Over Three Years [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		3 years
Subsequent Event [Member] | Open Market Sale Agreement [Member] | Jefferies LLC [Member]
Stock Issued During Period, Shares, New Issues (in shares)		15,420				0
Proceeds from Issuance of Common Stock		$ 42,600