Grace Therapeutics (GRCE) 10-Q 10 Nov 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Sep. 30, 2021	Nov. 10, 2021
Document Information [Line Items]
Entity Central Index Key	0001444192
Entity Registrant Name	Acasti Pharma Inc.
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-35776
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	98-1359336
Entity Address, Address Line One	3009 boul. de la Concorde East, Suite 102
Entity Address, City or Town	Laval
Entity Address, State or Province	QC
Entity Address, Country	CA
Entity Address, Postal Zip Code	H7E 2B5
City Area Code	450
Local Phone Number	686-4555
Title of 12(b) Security	Common Shares, no par value per share
Trading Symbol	ACST
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		44,288,183

Condensed Consolidated Interim

Condensed Consolidated Interim Balance sheet (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 36,929	$ 50,942
Short-term investments	13,861	9,789
Receivables	813	530
Assets held for sale	764	768
Prepaid expenses	2,178	343
Total current assets	54,545	62,372
Right of Use asset	43	86
Intangible assets	65,208	0
Total assets	119,796	62,458
Current liabilities:
Trade and other payables	4,433	1,493
Lease liability	43	86
Total current liabilities	4,476	1,579
Derivative warrant liabilities	1,116	5,219
Total liabilities	5,592	6,798
Shareholders’ equity:
Common shares	257,995	197,194
Additional paid-in capital	11,084	10,817
Accumulated other comprehensive loss	(6,720)	(6,333)
Accumulated deficit	(148,155)	(146,018)
Total shareholder’s equity	114,204	55,660
Commitments and contingencies
Total liabilities and shareholders’ equity	$ 119,796	$ 62,458

Condensed Consolidated Interi_2

Condensed Consolidated Interim Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating expenses
Research and development expenses, net of government assistance	$ (585)	$ (1,286)	$ (1,054)	$ (3,042)
General and administrative expenses	(2,957)	(1,324)	(5,633)	(2,973)
Sales and marketing expenses	(25)	(134)	(25)	(850)
Impairment of intangible assets	0	(3,706)	0	(3,706)
Impairment of equipment		(1,584)		(1,584)
Loss from operating activities	(3,567)	(8,034)	(6,712)	(12,155)
Financial income (expenses)	4,548	1,888	4,575	1,343
Net income (loss) and total comprehensive loss	$ 981	$ (6,146)	$ (2,137)	$ (10,812)
Basic and diluted income (loss) per share (in dollars per share)	$ 0.03	$ (0.52)	$ (0.13)	$ (0.93)
Weighted average number of shares outstanding (in shares)	32,788,275	11,889,941	29,436,032	11,614,716

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statements of Changes in Shareholder's Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Mar. 31, 2020	11,276,187
Balance at Mar. 31, 2020	$ 137,424	$ 9,797	$ (7,887)	$ (126,340)	$ 12,994
Net loss and total comprehensive loss for the period				(4,666)	(4,666)
Cumulative translation adjustment			308		308
Stock based compensation	$ 0	635			635
Stock Issued During Period, Shares, New Issues (in shares)	284,867
Net proceeds from shares issued under the at-the-market (ATM) program	$ 1,765				1,765
Net proceeds from shares issued under the at-the-market (ATM) program (in shares)	284,867
Balance (in shares) at Jun. 30, 2020	11,561,054
Balance at Jun. 30, 2020	$ 139,189	10,432	(7,579)	(131,006)	11,036
Balance (in shares) at Mar. 31, 2020	11,276,187
Balance at Mar. 31, 2020	$ 137,424	9,797	(7,887)	(126,340)	12,994
Net loss and total comprehensive loss for the period					(10,812)
Balance (in shares) at Sep. 30, 2020	12,108,649
Balance at Sep. 30, 2020	$ 142,570	10,855	(7,400)	(137,152)	8,873
Balance (in shares) at Jun. 30, 2020	11,561,054
Balance at Jun. 30, 2020	$ 139,189	10,432	(7,579)	(131,006)	11,036
Net loss and total comprehensive loss for the period	0	0	0	(6,146)	(6,146)
Cumulative translation adjustment	0	0	179	0	179
Stock based compensation	$ (46)	423	0	0	377
Stock Issued During Period, Shares, New Issues (in shares)	550,519
Net proceeds from shares issued under the at-the-market (ATM) program	$ 3,427	0	0	0	3,427
Net proceeds from shares issued under the at-the-market (ATM) program (in shares)	550,519
Stock based compensation (in shares)	(2,924)
Balance (in shares) at Sep. 30, 2020	12,108,649
Balance at Sep. 30, 2020	$ 142,570	10,855	(7,400)	(137,152)	8,873
Balance (in shares) at Mar. 31, 2021	26,046,950
Balance at Mar. 31, 2021	$ 197,194	10,817	(6,333)	(146,018)	55,660
Net loss and total comprehensive loss for the period				(3,118)	(3,118)
Cumulative translation adjustment			762		762
Stock based compensation	$ 0	153			153
Balance (in shares) at Jun. 30, 2021	26,046,950
Balance at Jun. 30, 2021	$ 197,194	10,970	(5,571)	(149,136)	53,457
Balance (in shares) at Mar. 31, 2021	26,046,950
Balance at Mar. 31, 2021	$ 197,194	10,817	(6,333)	(146,018)	55,660
Net loss and total comprehensive loss for the period					(2,137)
Balance (in shares) at Sep. 30, 2021	44,288,183
Balance at Sep. 30, 2021	$ 257,995	11,084	(6,720)	(148,155)	114,204
Balance (in shares) at Jun. 30, 2021	26,046,950
Balance at Jun. 30, 2021	$ 197,194	10,970	(5,571)	(149,136)	53,457
Net loss and total comprehensive loss for the period	0	0	0	981	981
Cumulative translation adjustment	0	0	(1,149)	0	(1,149)
Stock based compensation	$ 0	114	0	0	114
Common shares issued in relation to merger with Grace via share-for-share (in shares)	18,241,233
Common shares issued in relation to merger with Grace via share-for-share	$ 60,801	0	0	0	60,801
Balance (in shares) at Sep. 30, 2021	44,288,183
Balance at Sep. 30, 2021	$ 257,995	$ 11,084	$ (6,720)	$ (148,155)	$ 114,204

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Cash flows used in operating activities:
Net income (loss) for the period	$ 981	$ (6,146)	$ (2,137)	$ (10,812)
Adjustments:
Amortization of intangible assets	0	319	0	781
Depreciation of equipment	0	56	0	142
Impairment of intangible assets	0	3,706	0	3,706
Impairment of equipment	0	1,584	0	1,584
Stock-based compensation	114	401	267	1,033
Change in fair value of warrant liabilities	(3,435)	(2,027)	(4,080)	(1,518)
Write off of deferred financing costs of at-the-market (ATM) program	0	142	0	264
Unrealized foreign exchange (gain) loss	(1,162)	(20)	(420)	(154)
Changes in non-cash working capital items	(2,602)	(2,193)	(3,135)	(3,371)
Net cash used in operating activities	(6,104)	(4,178)	(9,505)	(8,345)
Cash flows from (used in) investing activities:
Acquisition of equipment	0	(33)	0	(69)
Acquisition of short-term investments	(13,227)	(21)	(21,528)	(21)
Maturity of short-term investment	16,064	21	17,438	21
Net cash from (used in) investing activities	2,837	(33)	(4,090)	(69)
Cash flows from (used in) financing activities:
Net proceeds from issuance of common shares under the at-the-market (ATM)		3,435	0	5,210
Deferred financing costs paid	0	(1)	0	(143)
Net cash from (used in) financing activities	0	3,434	0	5,067
Effect of exchange rate fluctuations on cash and cash equivalents	199	(31)	(312)	(151)
Translations effects on cash and cash equivalents related to reporting currency	(978)	238	(106)	810
Net (decrease) increase in cash and cash equivalents	(4,046)	(570)	(14,013)	(2,688)
Cash and cash equivalents, beginning of period	40,975	12,122	50,942	14,240
Cash and cash equivalents, end of period	36,929	11,552	36,929	11,552
Cash and cash equivalents are comprised of:
Cash	36,929	6,064	36,929	6,064
Cash equivalents	$ 0	$ 5,488	$ 0	$ 5,488

Note 1 - Nature of Operation

Note 1 - Nature of Operation	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Nature of Operations [Text Block]	1. Nature of Operation: Acasti Pharma Inc. (“Acasti” or the “Corporation”) is incorporated under the Business Corporations Act (Québec) (formerly Part 1A 3009 102, H7E 2B5. In January 2020 August 2020, 3 not not second 2021, In August 2021, may The Corporation has incurred operating losses and negative cash flows from operations in each year since its inception. The Corporation expects to incur significant expenses and continued operating losses for the foreseeable future. The Corporation expects its expenses will increase substantially in connection with its ongoing activities, particularly as it advances clinical development for the first three The Corporation does not may third may may not The Corporation remains subject to risks similar to other companies in the biopharmaceutical industry, including compliance with government regulations, protection of proprietary technology, dependence on third Reverse Stock Split On August 26, 2021, 1 6 1 8 1 August 31, 2021,

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Summary of significant accounting policies: Basis of presentation: These unaudited Consolidated Interim Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and on a basis consistent with those accounting principles followed by the Corporation and disclosed in note 2 3 4 Use of estimates: The preparation of these financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income, and expenses. Actual results may Estimates are based on management’s best knowledge of current events and actions that management may Estimates and assumptions include the measurement of derivative warrant liabilities (note 8 12 5 ), , 4 14 Intangible assets - acquired in-process research and development In a business combination, the fair value of in-process research and development (“IPR&D”) acquired is capitalized and accounted for as indefinite-lived intangible assets, and not The estimated fair values of identifiable intangible assets were determined using the "income approach" which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the cash flows an asset would generate over its remaining useful life. Some of the assumptions inherent in the development of these asset valuations include the estimated net cash flows for each year for the asset (including net revenues, cost of products sold, R&D costs, and selling and marketing costs), the appropriate discount rate necessary to measure the risk inherent in each future cash flow stream, the life cycle of each asset, the potential regulatory and commercial success risk, competitive trends impacting the asset and each cash flow stream, as well as other factors. Indefinite-lived assets are not The Corporation tests indefinite-lived intangible assets for impairment by first not not

Note 3 - Recent Accounting Pron

Note 3 - Recent Accounting Pronouncements	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	3. Recent accounting pronouncements In June 2016, 2016 13 326 2016 13 not 2016 13 December 15, 2022. not

Note 4 - Acquisition of Grace

Note 4 - Acquisition of Grace	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Business Combination Disclosure [Text Block]	4. Acquisition of Grace On August 27, 2021, In connection with the share-for-share noncash transaction, Grace was merged with a new wholly owned subsidiary of Acasti and became a subsidiary of Acasti. As a result, Acasti acquired Grace’s entire therapeutic pipeline consisting of three Consideration for acquisition A total of 18,241,233 common shares of Acasti have been issued to Grace stockholders as consideration for the acquisition. Total common shares issued 18,241,233 Acasti share price (closing share price on August 27, 2021) $ 3.3344 Fair value of common shares issued $ 60,824 The acquisition of Grace has been accounted for as a business combination using the acquisition method of accounting. This acquisition method requires, among other things, that assets acquired, and liabilities assumed in a business combination be recognized at their fair values as of the acquisition date. The valuation of assets acquired, and liabilities assumed has not September 30, 2021. , no one The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date: Assets acquired and liabilities assumed Cash and equivalents $ 90 Prepaid expenses and other current assets $ 74 Intangible assets – in-process research and development $ 65,208 Accounts payable and accrued expenses $ (4,548 ) Total assets acquired and liabilities assumed $ 60,824 Intangible assets of $65,208 relate primarily to the value of IPR&D, related to Grace’s therapeutic pipeline, consisting of three Acquisition-related expenses, which were comprised primarily of regulatory, financial advisory and legal fees, totaled $2.5 million and $3.2 million, respectively for the three six September 30, 2021, three six September 30, 2021, Pro Forma Financial Information The following table presents the unaudited pro forma combined results of Acasti and Grace for the six September 30, 2021, April 1, 2020: Six months ended September 30, 2021 $ Net loss (5,892 ) The unaudited pro forma condensed combined financial information was prepared using the acquisition method of accounting and was based on the historical financial information of Acasti and Grace. The unaudited pro forma financial information is not April 1, 2020. not

Note 5 - Short-term Investments

Note 5 - Short-term Investments	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	5. Short-term investments The Corporation holds various marketable securities, with maturities greater than 3 September 30, 2021 March 31, 2021 $ $ Term deposits issued in US currency earning interest at ranges between 0.19% and 0.30% and maturing on various dates from November 4, 2021, to December 20, 2021 12,419 7,542 Term deposits issued in CAD currency earning interest at ranges between 0.51% and 0.60% and maturing on various dates from December 2, 2021, to December 20, 2021 1,442 2,247 Total short-term investments 13,861 9,789

Note 6 - Impairment of Intangib

Note 6 - Impairment of Intangible Assets	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	6. Impairment of intangible assets: In prior years, the Corporation entered into agreements with Neptune Wellness Solutions Inc. (Neptune) pursuant to which the Corporation obtained a license and exercised its option under this license agreement to pay in advance future royalties payable to Neptune. This license allowed the Corporation to exploit the intellectual property rights in order to conduct clinical trials for its CaPre drug candidate. The Corporation tests intangible assets for impairment should circumstances change or events occur that would indicate that the fair value of an asset may second 2021, 3 not 350, In assessing the magnitude of any impairment of the license the Corporation considered all available evidence, including (i) significant adverse impact from business climate due to the Phase 3 not no no not, 3 second March 31, 2021,

Note 7 - Assets Held for Sale

Note 7 - Assets Held for Sale	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	7. Assets held for sale During the period, the Corporation determined to actively market for sale Other assets and Equipment and has met the criteria for classification of assets held for sale: September 30, 2021 March 31, 2021 $ $ Other assets (a) 384 387 Equipment (b) 380 381 764 768 a. Other assets Other assets represent krill oil (“RKO”) held by the Corporation that was expected to be used in commercial inventory scale up related to the development and commercialization of the CaPre drug candidate. Given that the development of CaPre will no March 31, 2021, not March 31, 2021. 3 b. Equipment September 30, 2021 Cost, net of impairment Accumulated depreciation Net book value $ $ $ Furniture and office equipment 17 (5 ) 12 Computer equipment 96 (29 ) 67 Laboratory equipment 584 (436 ) 148 Production equipment 1,179 (1,026 ) 153 1,876 (1,496 ) 380 Equipment is made up of laboratory, production, computer, and office equipment that was utilized in the development of CaPre. Similarly, to the intangible assets and Other assets, the announcement of the failed Phase 3 3

Note 8 - Derivative Warrant Lia

Note 8 - Derivative Warrant Liabilities	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	8. Derivative warrant liabilities: In connection with the Canadian public offering that closed on May 9, 2018, one May 9, 2023. In connection with the U.S. public offering that closed on December 27, 2017, one December 27, 2022. The derivative warrant liabilities are measured at fair value at each reporting period and the reconciliation of changes in fair value is presented in the following tables: Warrant liabilities issued Warrant liabilities issued September 30, 2021 September 30, 2020 September30, 2021 September30, 2020 Balance – beginning of period 2,597 1,146 2,622 1,247 Change in fair value (1,970 ) (680 ) (2,110 ) (838 ) Translation effect (12 ) 145 (11 ) 150 Balance – end of period 615 611 501 559 Fair value per share issuable 0.75 0.74 0.57 0.63 The fair value of the derivative warrant liabilities was estimated using the Black-Scholes option pricing model and based on the following assumptions: Warrant liabilities issued Warrant liabilities issued September 30, 2021 March 31, 2021 September 30, 2021 March 31, 2021 Exercise price CAD$ 10.48 CAD$ 10.48 USD$ 10.08 USD$ 10.08 Share price CAD$ 2.50 CAD$ 2.16 USD$ 2.00 USD$ 1.6 Risk-free interest 1.11 % 1.39 % 0.98 % 0.92 % Estimated life (years) 1.61 2.11 1.24 1.74 Expected volatility 147.89 % 156.00 % 154.32 % 171.12 % Dividend nil nil nil nil

Note 9 - Capital and Other Comp

Note 9 - Capital and Other Components of Equity	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	9. Capital and other components of equity: (a) “At-the-market sales agreement: On February 14, 2019, may may June 29, 2020, three may no may may February 2019 During the six September 30, 2021, six September 30, 2020, 15 (b) Warrants: The outstanding warrants of the Corporation are composed of the following as at September 30, 2021, March 31, 2021: September 30, 2021 March 31, 2021 Number Amount Number Amount Liability May 2018 Canadian public offering warrants(i) 824,218 615 824,218 2,597 December 2017 U.S. public offering warrants(ii) 884,120 501 884,120 2,622 1,708,338 1,116 1,708,338 5,219 Equity December 2017 US public offering broker warrants (iii) 32,390 161 32,390 161 February 2017 Canadian public offering warrants (iv) 215,491 631 215,491 631 247,881 792 247,881 792 (i) Warrants to acquire one May 9, 2023. (ii) Warrants to acquire one December 27, 2022. (iii) Warrants to acquire one December 19, 2022. (iv) Warrants to acquire one $17.20, February 21, 2022.

Note 10 - Government Assistance

Note 10 - Government Assistance	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Government Assistance [Text Block]	10. Government assistance: Government assistance is comprised of a government grant from the Canadian federal government and research and development investment tax credits receivable from the Québec provincial government, which relate to qualifiable research and development expenditures under the applicable tax laws. The amounts recorded as receivables are subject to a government tax audit and the final amounts received may six September 30, 2021, September 30, 2020, In September 2019, October 2020, $750 six September 30, 2021, September 30, 2020, nil

Note 11 - Net Financial Income

Note 11 - Net Financial Income	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	11. Net financial income: Three-month periods ended Six-month periods ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 $ $ $ $ Foreign exchange gain (loss) 1,099 (12 ) 344 50 Write-off of deferred financing fees related to at-the-market (ATM) program - (142 ) - (264 ) Change in fair value of warrant liabilities 3,435 2,027 4,080 1,518 Interest income 14 15 151 39 Financial income 4,548 1,888 4,575 1,343

Note 12 - Stock Based Compensat

Note 12 - Stock Based Compensation	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	12. Stock-based compensation: At September 30, 2021, August 26, 2021. The Stock Option Plan continues to provide for the granting of options to purchase common shares. The exercise price of the stock options granted under this amended plan is not may not 10% August 26, 2020, 10% September 30, 2021. ten twelve 12 thirty-six 36 The total number of shares issued to any one twelve not twelve one twelve The following table summarizes information about activities within the Stock Option Plan for the three six September 30, 2021 September 30, 2020 Weighted average Number of Weighted average Number of CAD$ CAD$ Outstanding at beginning of period 8.33 911,871 7.97 1,241,611 Granted - - - - Exercised - - - - Forfeited 10.39 (7,995 ) 5.44 (45,030 ) Expired - - - - Outstanding at end of period 8.32 903,876 8.06 1,196,581 Exercisable at end of period No three six September 30, 2021, September 30, 2020. three September 30, 2021, September 30, 2020 Three-month periods ended Six-month periods ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 $ $ $ $ Research and development expenses 38 105 88 246 General and administrative expenses 76 184 179 532 Sales and marketing expenses - 112 - 255 114 401 267 1,033 Stock-based compensation payment transactions: The fair value of stock-based compensation transactions is measured using the Black-Scholes option pricing model. Measurement inputs include share price on measurement date, exercise price of the instrument, expected volatility (based on weighted average historic volatility for a duration equal to the weighted average life of the instruments, life based on the average of the vesting and contractual periods for employee awards as minimal prior exercises of options in which to establish historical exercise experience; and not not may may not

Note 13 - Supplemental Cash Flo

Note 13 - Supplemental Cash Flow Disclosure	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	13. Supplemental cash flow disclosure: (a) Changes in non-cash operating items: Three-month periods ended Six-month periods ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 $ $ $ $ Receivables (380 ) (119 ) (287 ) (47 ) Prepaid expenses (1,186 ) 250 (1,838 ) 544 Other assets - 24 - 24 Trade and other payables (1,036 ) (2,348 ) (1,010 ) (3,892 ) (2,602 ) (2,193 ) (3,135 ) (3,371 )

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	14. Commitments and contingencies: In the ordinary course of business, the Corporation is at times subject to various legal proceedings and disputes. The Corporation assess its liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. Where it is probable that the Corporation will incur a loss and the amount of the loss can be reasonably estimated, the Corporation records a liability in its consolidated financial statements. These legal contingencies may not not not not may No September 30, 2021. (a) Take or pay contract On October 25, 2019, October 31, 2021. September 30, 2021, no November 10, 2021, no may

Note 15 - Subsequent Events

Note 15 - Subsequent Events	6 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	15. Subsequent events: “At-the-market sales agreement: On November 10, 2021, may may

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation: These unaudited Consolidated Interim Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and on a basis consistent with those accounting principles followed by the Corporation and disclosed in note 2 3 4
Use of Estimates, Policy [Policy Text Block]	Use of estimates: The preparation of these financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income, and expenses. Actual results may Estimates are based on management’s best knowledge of current events and actions that management may Estimates and assumptions include the measurement of derivative warrant liabilities (note 8 12 5 ), , 4 14
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible assets - acquired in-process research and development In a business combination, the fair value of in-process research and development (“IPR&D”) acquired is capitalized and accounted for as indefinite-lived intangible assets, and not The estimated fair values of identifiable intangible assets were determined using the "income approach" which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the cash flows an asset would generate over its remaining useful life. Some of the assumptions inherent in the development of these asset valuations include the estimated net cash flows for each year for the asset (including net revenues, cost of products sold, R&D costs, and selling and marketing costs), the appropriate discount rate necessary to measure the risk inherent in each future cash flow stream, the life cycle of each asset, the potential regulatory and commercial success risk, competitive trends impacting the asset and each cash flow stream, as well as other factors. Indefinite-lived assets are not The Corporation tests indefinite-lived intangible assets for impairment by first not not

Note 4 - Acquisition of Grace (

Note 4 - Acquisition of Grace (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Total common shares issued 18,241,233 Acasti share price (closing share price on August 27, 2021) $ 3.3344 Fair value of common shares issued $ 60,824
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Assets acquired and liabilities assumed Cash and equivalents $ 90 Prepaid expenses and other current assets $ 74 Intangible assets – in-process research and development $ 65,208 Accounts payable and accrued expenses $ (4,548 ) Total assets acquired and liabilities assumed $ 60,824
Business Acquisition, Pro Forma Information [Table Text Block]	Six months ended September 30, 2021 $ Net loss (5,892 )

Note 5 - Short-term Investmen_2

Note 5 - Short-term Investments (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Marketable Securities [Table Text Block]	September 30, 2021 March 31, 2021 $ $ Term deposits issued in US currency earning interest at ranges between 0.19% and 0.30% and maturing on various dates from November 4, 2021, to December 20, 2021 12,419 7,542 Term deposits issued in CAD currency earning interest at ranges between 0.51% and 0.60% and maturing on various dates from December 2, 2021, to December 20, 2021 1,442 2,247 Total short-term investments 13,861 9,789

Note 7 - Assets Held for Sale (

Note 7 - Assets Held for Sale (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	September 30, 2021 March 31, 2021 $ $ Other assets (a) 384 387 Equipment (b) 380 381 764 768 September 30, 2021 Cost, net of impairment Accumulated depreciation Net book value $ $ $ Furniture and office equipment 17 (5 ) 12 Computer equipment 96 (29 ) 67 Laboratory equipment 584 (436 ) 148 Production equipment 1,179 (1,026 ) 153 1,876 (1,496 ) 380

Note 8 - Derivative Warrant L_2

Note 8 - Derivative Warrant Liabilities (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Derivative Liabilities at Fair Value [Table Text Block]	Warrant liabilities issued Warrant liabilities issued September 30, 2021 September 30, 2020 September30, 2021 September30, 2020 Balance – beginning of period 2,597 1,146 2,622 1,247 Change in fair value (1,970 ) (680 ) (2,110 ) (838 ) Translation effect (12 ) 145 (11 ) 150 Balance – end of period 615 611 501 559 Fair value per share issuable 0.75 0.74 0.57 0.63
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	Warrant liabilities issued Warrant liabilities issued September 30, 2021 March 31, 2021 September 30, 2021 March 31, 2021 Exercise price CAD$ 10.48 CAD$ 10.48 USD$ 10.08 USD$ 10.08 Share price CAD$ 2.50 CAD$ 2.16 USD$ 2.00 USD$ 1.6 Risk-free interest 1.11 % 1.39 % 0.98 % 0.92 % Estimated life (years) 1.61 2.11 1.24 1.74 Expected volatility 147.89 % 156.00 % 154.32 % 171.12 % Dividend nil nil nil nil

Note 9 - Capital and Other Co_2

Note 9 - Capital and Other Components of Equity (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	September 30, 2021 March 31, 2021 Number Amount Number Amount Liability May 2018 Canadian public offering warrants(i) 824,218 615 824,218 2,597 December 2017 U.S. public offering warrants(ii) 884,120 501 884,120 2,622 1,708,338 1,116 1,708,338 5,219 Equity December 2017 US public offering broker warrants (iii) 32,390 161 32,390 161 February 2017 Canadian public offering warrants (iv) 215,491 631 215,491 631 247,881 792 247,881 792

Note 11 - Net Financial Income

Note 11 - Net Financial Income (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Three-month periods ended Six-month periods ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 $ $ $ $ Foreign exchange gain (loss) 1,099 (12 ) 344 50 Write-off of deferred financing fees related to at-the-market (ATM) program - (142 ) - (264 ) Change in fair value of warrant liabilities 3,435 2,027 4,080 1,518 Interest income 14 15 151 39 Financial income 4,548 1,888 4,575 1,343

Note 12 - Stock Based Compens_2

Note 12 - Stock Based Compensation (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	September 30, 2021 September 30, 2020 Weighted average Number of Weighted average Number of CAD$ CAD$ Outstanding at beginning of period 8.33 911,871 7.97 1,241,611 Granted - - - - Exercised - - - - Forfeited 10.39 (7,995 ) 5.44 (45,030 ) Expired - - - - Outstanding at end of period 8.32 903,876 8.06 1,196,581 Exercisable at end of period
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three-month periods ended Six-month periods ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 $ $ $ $ Research and development expenses 38 105 88 246 General and administrative expenses 76 184 179 532 Sales and marketing expenses - 112 - 255 114 401 267 1,033

Note 13 - Supplemental Cash F_2

Note 13 - Supplemental Cash Flow Disclosure (Tables)	6 Months Ended
	Sep. 30, 2021
Notes Tables
Cash Flow, Operating Capital [Table Text Block]	Three-month periods ended Six-month periods ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 $ $ $ $ Receivables (380 ) (119 ) (287 ) (47 ) Prepaid expenses (1,186 ) 250 (1,838 ) 544 Other assets - 24 - 24 Trade and other payables (1,036 ) (2,348 ) (1,010 ) (3,892 ) (2,602 ) (2,193 ) (3,135 ) (3,371 )

Note 1 - Nature of Operation (D

Note 1 - Nature of Operation (Details Textual)	Aug. 31, 2021
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	8

Note 4 - Acquisition of Grace_2

Note 4 - Acquisition of Grace (Details Textual) - Grace Therapeutics Inc. [Member] - USD ($) $ in Thousands	Aug. 27, 2020	Sep. 30, 2021	Sep. 30, 2021
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)	18,241,233
Business Combination, Acquisition Related Costs		$ 2,500	$ 3,200
In Process Research and Development [Member]
Finite-lived Intangible Assets Acquired	$ 65,208

Note 4 - Acquisition of Grace -

Note 4 - Acquisition of Grace - Consideration (Details) - Grace Therapeutics Inc. [Member] $ / shares in Units, $ in Thousands	Aug. 27, 2020USD ($)$ / sharesshares
Total common shares issued (in shares) | shares	18,241,233
Acasti share price (closing share price on August 27, 2021) (in dollars per share) | $ / shares	$ 3.3344
Fair value of common shares issued | $	$ 60,824

Note 4 - Acquisition of Grace_3

Note 4 - Acquisition of Grace - Assets Acquired and Liabilities Assumed (Details) - Grace Therapeutics Inc. [Member] $ in Thousands	Aug. 27, 2020USD ($)
Cash and equivalents	$ 90
Prepaid expenses and other current assets	74
Intangible assets – in-process research and development	65,208
Accounts payable and accrued expenses	4,548
Total assets acquired and liabilities assumed	$ 60,824

Note 4 - Acquisition of Grace_4

Note 4 - Acquisition of Grace - Pro Forma Financial Information (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2021USD ($)
Net loss	$ (5,892)

Note 5 - Short-term Investmen_3

Note 5 - Short-term Investments - Marketable Securities (Details) $ in Thousands, $ in Thousands	Sep. 30, 2021USD ($)	Sep. 30, 2021CAD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2021CAD ($)
Term deposits issued in US currency earning interest at ranges between 0.19% and 0.30% and maturing on various dates from November 4, 2021, to December 20, 2021	$ 13,861		$ 9,789
Deposits [Member]
Term deposits issued in US currency earning interest at ranges between 0.19% and 0.30% and maturing on various dates from November 4, 2021, to December 20, 2021	$ 12,419		$ 7,542
Canadian Deposits [Member]
Term deposits issued in US currency earning interest at ranges between 0.19% and 0.30% and maturing on various dates from November 4, 2021, to December 20, 2021		$ 1,442		$ 2,247

Note 6 - Impairment of Intang_2

Note 6 - Impairment of Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Impairment of Intangible Assets, Finite-lived	$ 0	$ 3,706	$ 0	$ 3,706

Note 7 - Assets Held for Sale -

Note 7 - Assets Held for Sale - Summary of Assets Held for Sale (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Disposal Group, Including Discontinued Operation, Assets, Current, Total		$ 764		$ 764		$ 768
Equipment held-for-sale, impairment loss		0	$ (1,584)	0	$ (1,584)
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Other assets (a)	[1]	384		384		387
Equipment (b)	[2]	380		380		381
Disposal Group, Including Discontinued Operation, Assets, Current, Total		764		764		$ 768
Equipment held-for-sale, cost		1,876		1,876
Equipment held-for-sale, accumulated depreciation		(1,496)		(1,496)
Equipment held-for-sale, impairment loss				380
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Furniture and Office Equipment [Member]
Equipment held-for-sale, cost		17		17
Equipment held-for-sale, accumulated depreciation		(5)		(5)
Equipment held-for-sale, impairment loss				12
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Computer Equipment [Member]
Equipment held-for-sale, cost		96		96
Equipment held-for-sale, accumulated depreciation		(29)		(29)
Equipment held-for-sale, impairment loss				67
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Laboratory Equipment [Member]
Equipment held-for-sale, cost		584		584
Equipment held-for-sale, accumulated depreciation		(436)		(436)
Equipment held-for-sale, impairment loss				148
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Production Equipment [Member]
Equipment held-for-sale, cost		1,179		1,179
Equipment held-for-sale, accumulated depreciation		$ (1,026)		(1,026)
Equipment held-for-sale, impairment loss				$ 153
[1]	Other assets Other assets represent krill oil (RKO) held by the Corporation that was expected to be used in commercial inventory scale up related to the development and commercialization of the CaPre drug candidate. Given that the development of CaPre will no longer be pursued by Acasti, the Corporation is expected to sell this reserve. The other asset is being recorded at the fair value less costs to sell. Management's estimate of the fair value of the RKO less cost -to sell, was based primarily on estimated market prices at year end obtained from an appraiser specializing in the krill oil market. Market prices have not changed materially since year end. These projections are based on Level 3 inputs of the fair value hierarchy and reflect management’s best estimate of market participants' pricing of the assets as well as the general condition of the asset.
[2]	Equipment September 30, 2021 Cost, net of impairment Accumulated depreciation Net book value Furniture and office equipment 17 (5 ) 12 Computer equipment 96 (29 ) 67 Laboratory equipment 584 (436 ) 148 Production equipment 1,179 (1,026 ) 153 1,876 (1,496 ) 380 Equipment is made up of laboratory, production, computer, and office equipment that was utilized in the development of CaPre. Similarly, to the intangible assets and Other assets, the announcement of the failed Phase 3 clinical trials for CaPre resulted in an impairment trigger for the laboratory and production equipment. The impairment loss is based on management’s estimate of the fair value of the equipment less cost -to sell, which is based primarily on estimated market prices obtained from brokers specialized in selling used equipment. These projections are based on Level 3 inputs of the fair value hierarchy and reflect the Corporation’s best estimate of market participants’ pricing of the assets as well as the general condition of the assets.

Note 8 - Derivative Warrant L_3

Note 8 - Derivative Warrant Liabilities (Details Textual)	Sep. 30, 2021$ / sharesshares	Mar. 31, 2021shares	May 09, 2018$ / sharesshares	Dec. 27, 2017$ / sharesshares
Class of Warrant or Right, Outstanding (in shares)	247,881	247,881
Warrants Issued in May 2018 [Member]
Class of Warrant or Right, Outstanding (in shares)			1,369,937
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)	1		1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in CAD per share) | $ / shares	$ 10.48		$ 10.48
Over-Allotment Option Warrants Issued December 2017 [Member]
Class of Warrant or Right, Outstanding (in shares)				1,225,366
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)				1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in CAD per share) | $ / shares				$ 10.08

Note 8 - Derivative Warrant L_4

Note 8 - Derivative Warrant Liabilities - Changes in Fair Value (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Warrants Issued in May 2018 [Member]
Balance – beginning of period	$ 2,597	$ 1,146
Change in fair value	(1,970)	(680)
Translation effect	(12)	145
Balance – end of period	$ 615	$ 611
Fair value per share issuable (in dollars per share)	$ 0.75	$ 0.74
Warrants Issued December 27, 2017 [Member]
Balance – beginning of period	$ 2,622	$ 1,247
Change in fair value	(2,110)	(838)
Translation effect	(11)	150
Balance – end of period	$ 501	$ 559
Fair value per share issuable (in dollars per share)	$ 0.57	$ 0.63

Note 8 - Derivative Warrant L_5

Note 8 - Derivative Warrant Liabilities - Assumptions (Details)	Sep. 30, 2021	Mar. 31, 2021
Measurement Input, Exercise Price [Member] | Warrants Issued in May 2018 [Member]
Derivative warrant liability, measurement input	10.48	10.48
Measurement Input, Exercise Price [Member] | Warrants Issued December 27, 2017 [Member]
Derivative warrant liability, measurement input	10.08	10.08
Measurement Input, Share Price [Member] | Warrants Issued in May 2018 [Member]
Derivative warrant liability, measurement input	2.50	2.16
Measurement Input, Share Price [Member] | Warrants Issued December 27, 2017 [Member]
Derivative warrant liability, measurement input	2	1.6
Measurement Input, Risk Free Interest Rate [Member] | Warrants Issued in May 2018 [Member]
Derivative warrant liability, measurement input	0.0111	0.0139
Measurement Input, Risk Free Interest Rate [Member] | Warrants Issued December 27, 2017 [Member]
Derivative warrant liability, measurement input	0.0098	0.0092
Measurement Input, Expected Term [Member] | Warrants Issued December 27, 2017 [Member]
Derivative warrant liability, measurement input	1.24	1.74
Measurement Input, Expected Term [Member] | Broker Warrants Issued May 2018 [Member]
Derivative warrant liability, measurement input	1.61	2.11
Measurement Input, Price Volatility [Member] | Warrants Issued in May 2018 [Member]
Derivative warrant liability, measurement input	1.4789	1.5600
Measurement Input, Price Volatility [Member] | Warrants Issued December 27, 2017 [Member]
Derivative warrant liability, measurement input	1.5432	1.7112

Note 9 - Capital and Other Co_3

Note 9 - Capital and Other Components of Equity (Details Textual)	Jun. 29, 2020USD ($)	Feb. 14, 2019USD ($)shares	Feb. 28, 2019USD ($)	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2021$ / sharesshares	May 09, 2018$ / sharesshares
At-the-market Sales Agreement, Common Stock, Maximum Amount | $	$ 75,000,000	$ 30,000,000
At-the-market Sales Agreement, Term (Year)		3 years
At-the-market Sales Agreement, Underwriter Fees, Percentage of Sales	3.00%
Write Off of Deferred Financing Costs of At-the-Market Program | $			$ 115,000	$ 0	$ 142,000	$ 0	$ 264,000
Warrants Issued in May 2018 [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares				1		1		1	1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in CAD per share) | $ / shares								$ 10.48	$ 10.48
Warrants Issued December 27, 2017 [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares				1		1		1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in CAD per share) | $ / shares				$ 10.08		$ 10.08
Broker Warrants Issued May 2018 [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares				1		1		1
Broker Warrants Issued December 2017 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in CAD per share) | $ / shares				$ 10.10		$ 10.10
Warrants Issued in Connection with Public Offering February 2017 [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares				1		1		1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in CAD per share) | $ / shares								$ 17.20
At-the-market Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares		0				0	835
Proceeds from Issuance of Common Stock, Net | $							$ 5,210,000,000
Commission Costs Related to Share Sale | $							$ 180,000
Sale of Stock, Average Price Per Share (in dollars per share) | $ / shares							$ 6.46
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $							$ 18,000
Minimum [Member]
At-the-market Sales Agreement, Underwriter Fees, Percentage of Sales		3.00%
Maximum [Member]
At-the-market Sales Agreement, Underwriter Fees, Percentage of Sales		4.00%

Note 9 - Capital and Other Co_4

Note 9 - Capital and Other Components of Equity - Warrants (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Number outstanding (in shares)	247,881	247,881
Amount	$ 792	$ 792
Over-Allotment Option Warrants Issued in May 2018 [Member]
Number outstanding (in shares)	824,218	824,218
Amount	$ 615	$ 2,597
Warrants Issued December 27, 2017 [Member]
Number outstanding (in shares)	884,120	884,120
Amount	$ 501	$ 2,622
Derivative Liability Warrants [Member]
Number outstanding (in shares)	1,708,338	1,708,338
Amount	$ 1,116	$ 5,219
Broker Warrants Issued December 2017 [Member]
Number outstanding (in shares)	32,390	32,390
Amount	$ 161	$ 161
Warrants Issued in Connection with Public Offering February 2017 [Member]
Number outstanding (in shares)	215,491	215,491
Amount	$ 631	$ 631

Note 10 - Government Assistan_2

Note 10 - Government Assistance (Details Textual) $ in Thousands, $ in Thousands	1 Months Ended		6 Months Ended
	Oct. 31, 2020CAD ($)	Sep. 30, 2019CAD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Proceeds from NRC IRAP			$ 0	$ 79
Maximum [Member]
Award in Non-dilutive and Non-repayable Funding From NRC IRAP	$ 326	$ 750
Research and Development Expense [Member]
Government Assistance			$ 129	$ 84

Note 11 - Net Financial Incom_2

Note 11 - Net Financial Income - Financial Income (Expenses) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 28, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Foreign exchange gain (loss)		$ 1,099	$ (12)	$ 344	$ 50
Write-off of deferred financing fees related to at-the-market (ATM) program	$ (115)	0	(142)	0	(264)
Change in fair value of warrant liabilities		3,435	2,027	4,080	1,518
Interest income		14	15	151	39
Financial income		$ 4,548	$ 1,888	$ 4,575	$ 1,343

Note 12 - Stock Based Compens_3

Note 12 - Stock Based Compensation (Details Textual) - Stock Option Plan [Member] - shares	Aug. 26, 2020	Apr. 09, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	1,816,735		4,428,818		4,428,818
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum		15.00%
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum Per Person					2.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)			0	0	0	0
Consultant [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum Per Person					2.00%
Related Party [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum Per Person					2.00%

Note 12 - Stock Based Compens_4

Note 12 - Stock Based Compensation - Activities Within the Stock Option Plan (Details) - Stock Option Plan [Member] - $ / shares	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Outstanding, weighted average exercise price (in CAD per share)			$ 8.33	$ 7.97
Outstanding, number of options (in shares)			911,871	1,241,611
Granted, weighted average exercise price (in CAD per share)			$ 0	$ 0
Granted, number of options (in shares)	0	0	0	0
Exercised, weighted average exercise price (in CAD per share)			$ 0	$ 0
Exercised, number of options (in shares)			0	0
Forfeited, weighted average exercise price (in CAD per share)			$ 10.39	$ 5.44
Forfeited, number of options (in shares)			(7,995)	(45,030)
Expired, weighted average exercise price (in CAD per share)			$ 0	$ 0
Expired, number of options (in shares)			0	0
Outstanding, weighted average exercise price (in CAD per share)	$ 8.32	$ 8.06	$ 8.32	$ 8.06
Outstanding, number of options (in shares)	903,876	1,196,581	903,876	1,196,581

Note 12 - Stock Based Compens_5

Note 12 - Stock Based Compensation - Compensation Expense (Details) - Stock Option Plan [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Compensation expense	$ 114	$ 401	$ 267	$ 1,033
Research and Development Expense [Member]
Compensation expense	38	105	88	246
General and Administrative Expense [Member]
Compensation expense	76	184	179	532
Selling and Marketing Expense [Member]
Compensation expense	$ 0	$ 112	$ 0	$ 255

Note 13 - Supplemental Cash F_3

Note 13 - Supplemental Cash Flow Disclosure - Changes in Working Capital Items (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Receivables	$ (380)	$ (119)	$ (287)	$ (47)
Prepaid expenses	(1,186)	250	(1,838)	544
Other assets	0	24	0	24
Trade and other payables	(1,036)	(2,348)	(1,010)	(3,892)
Increase (Decrease) in Working Capital	$ (2,602)	$ (2,193)	$ (3,135)	$ (3,371)

Note 14 - Commitments and Con_2

Note 14 - Commitments and Contingencies (Details Textual) - RKO Supply Agreement [Member] - USD ($) $ in Millions	Sep. 30, 2021	Oct. 25, 2019
Purchase Obligation, Total		$ 3.1
Purchase Commitment, Remaining Minimum Amount Committed	$ 2.8

Note 15 - Subsequent Events (De

Note 15 - Subsequent Events (Details Textual)	Nov. 10, 2021USD ($)
Subsequent Event [Member]
Sale of Stock, Aggregate Offering Value	$ 75,000,000