Organovo (ONVO) 10-Q 8 Aug 14 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Jun. 30, 2014	Aug. 01, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q1	'
Trading Symbol	'ONVO	'
Entity Registrant Name	'ORGANOVO HOLDINGS, INC.	'
Entity Central Index Key	'0001497253	'
Current Fiscal Year End Date	'--03-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	78,479,800

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Current Assets	'	'
Cash and cash equivalents	$44,897	$48,167
Accounts receivable	60	'
Inventory	71	63
Prepaid expenses and other current assets	712	931
Total current assets	45,740	49,161
Fixed assets, net	1,001	857
Restricted cash	79	79
Other assets, net	88	89
Total assets	46,908	50,186
Current Liabilities	'	'
Accounts payable	839	326
Accrued expenses	1,739	1,167
Deferred revenue	144	13
Capital lease obligation	11	10
Warrant liabilities	352	377
Total current liabilities	3,085	1,893
Deferred revenue, net of current portion	3	4
Capital lease obligation, net of current portion	2	5
Total liabilities	3,090	1,902
Commitments and Contingencies (Note 4)	'	'
Stockholders' Equity	'	'
Common stock, $0.001 par value; 150,000,000 shares authorized, 78,282,460 and 78,113,639 shares issued and outstanding at June 30, 2014 and March 31, 2014, respectively	78	78
Additional paid-in capital	142,386	140,419
Accumulated deficit	-98,646	-92,213
Total stockholders' equity	43,818	48,284
Total Liabilities and Stockholders' Equity	$46,908	$50,186

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Statement Of Financial Position [Abstract]	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	78,282,460	78,113,639
Common stock, shares outstanding	78,282,460	78,113,639

Unaudited_Condensed_Consolidat

Unaudited Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Revenues	'	'
Collaborations	$69	$94
Grants	30	12
Total Revenues	99	106
Selling, general, and administrative expenses	3,695	2,358
Research and development expenses	2,814	1,482
Loss from Operations	-6,410	-3,734
Other Income (Expense)	'	'
Change in fair value of warrant liabilities	-30	-23
Loss on disposal of fixed assets	'	-4
Interest expense	'	-13
Interest income	7	3
Total Other Income (Expense)	-23	-37
Net Loss	($6,433)	($3,771)
Net loss per common share-basic and diluted	($0.08)	($0.06)
Weighted average shares used in computing net loss per common share-basic and diluted	78,241,373	64,794,144

Unaudited_Condensed_Consolidat1

Unaudited Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash Flows From Operating Activities	'	'
Net loss	($6,433)	($3,771)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Loss on disposal of fixed assets	'	4
Depreciation and amortization	96	93
Change in fair value of warrant liabilities	30	23
Expense associated with warrant modification	'	12
Stock-based compensation	1,537	802
Amortization of warrants issued for services	141	72
Increase (decrease) in cash resulting from changes in:	'	'
Grants receivable	'	101
Accounts receivable	-60	'
Inventory	-8	3
Prepaid expenses and other assets	117	-72
Accounts payable	513	-267
Accrued expenses	572	363
Deferred revenue	130	-26
Net cash used in operating activities	-3,365	-2,663
Cash Flows From Investing Activities	'	'
Deposits released from restriction	'	50
Purchases of fixed assets	-238	-163
Net cash used in investing activities	-238	-113
Cash Flows From Financing Activities	'	'
Proceeds from issuance of common stock and exercise of warrants, net	224	'
Proceeds from exercise of stock options	111	'
Principal payments on capital lease obligation	-2	-3
Net cash provided by (used in) financing activities	333	-3
Net Decrease in Cash and Cash Equivalents	-3,270	-2,779
Cash and Cash Equivalents at Beginning of Period	48,167	15,628
Cash and Cash Equivalents at End of Period	44,897	12,849
Supplemental Disclosure of Cash Flow Information:	'	'
Interest	'	'
Income Taxes	'	'

Unaudited_Condensed_Consolidat2

Unaudited Condensed Consolidated Statements of Cash Flows (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Statement Of Cash Flows [Abstract]	'	'
Warrant liability reduced	$55	$129
Warrant reclassified as equity instruments	$0	$767

Description_of_Business_and_Su

Description of Business and Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Description of Business and Summary of Significant Accounting Policies	'
	1. Description of Business and Summary of Significant Accounting Policies
	Nature of operations and basis of presentation
	References in these notes to the unaudited condensed consolidated financial statements to “Organovo Holdings, Inc.,” “Organovo Holdings,” “we,” “us,” “our,” “the Company” and “our Company” refer to Organovo Holdings, Inc. and its consolidated subsidiary Organovo, Inc. The Company is developing and commercializing functional three-dimensional (3D) human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs.
	As of June 30, 2014, the Company has devoted its efforts primarily to developing a platform technology for the generation of functional human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs, raising capital and building infrastructure. The Company has not yet realized significant revenues from its planned principal operations. The Company’s activities are subject to significant risks and uncertainties including failing to secure additional funding to operationalize the Company’s current technology before another company develops similar technology or products.
	The accompanying interim condensed consolidated financial statements have been prepared by the Company, without audit, in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair statement of its financial position, results of operations, stockholders’ equity and cash flows in accordance with generally accepted accounting principles (“GAAP”). The balance sheet at March 31, 2014 is derived from the audited balance sheet at that date.
	In the opinion of management, the unaudited financial information for the interim periods presented reflects all adjustments, which are only normal and recurring, necessary for a fair statement of the Company’s financial position, results of operations, stockholders’ equity and cash flows. These financial statements should be read in conjunction with the financial statements included in the Company’s Annual Report filed on Form 10-K for the year ended March 31, 2014 filed with the Securities and Exchange Commission (the “SEC”) on June 10, 2014. Operating results for interim periods are not necessarily indicative of operating results for the Company’s fiscal year ending March 31, 2015.
	NYSE:MKT Listing
	On July 9, 2013, the Company announced that its common stock had been approved for listing on the NYSE:MKT. Shares began trading on the New York Stock Exchange on July 11, 2013 under the symbol “ONVO”. Prior to that time, the Company’s shares were quoted on the OTC QX.
	Liquidity
	As of June 30, 2014, the Company had an accumulated deficit of approximately $98.6 million. The Company also had negative cash flows from operations of approximately $3.4 million during the three months ended June 30, 2014.
	Through June 30, 2014, the Company has financed its operations primarily through the sale of convertible notes, the private placement of equity securities, the public offering of common stock, and through revenue derived from grants or collaborative research agreements or the commercialization of products and services. Based on its current operating plan and available cash resources, the Company has sufficient resources to fund its business for at least the next twelve months.
	The Company will need additional capital to further fund product development and commercialization of its human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs. The Company intends to cover its future operating expenses through cash on hand, through additional financing from existing and prospective investors, from revenue derived from grants and collaborative research agreements, and revenue from the commercialization of products and services. However, we may not be successful in obtaining sufficient funding to support our operations from new or existing collaborative research agreements or the commercialization of products and services. In addition, we cannot be sure that additional financing will be available when needed or that, if available, financing will be obtained on terms favorable to us or to our stockholders. Further, we cannot assure you that we will receive 100% of the potential funding under existing grants, and we may not be successful in securing additional grants in the future.
	Having insufficient funds may require us to delay, scale back, or eliminate some or all of our development programs or relinquish rights to our technology on less favorable terms than we would otherwise choose. Failure to obtain adequate financing could eventually adversely affect our ability to operate as a going concern. If we raise additional funds from the issuance of equity securities, substantial dilution to our existing stockholders would likely result. If we raise additional funds by incurring debt financing, the terms of the debt may involve significant cash payment obligations as well as covenants and specific financial ratios that may restrict our ability to operate our business.
	Use of estimates
	The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Significant estimates used in preparing the condensed consolidated financial statements include those assumed in computing the valuation of warrants, revenue recognized under the proportional performance model, the valuation of stock-based compensation expense, and the valuation allowance on deferred tax assets.
	Financial instruments
	For certain of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, inventory, prepaid expenses and other current assets, accounts payable, accrued expenses, deferred revenue and capital lease obligations, the carrying amounts are generally considered to be representative of their respective fair values because of the short-term nature of those instruments.
	Cash and cash equivalents
	The Company considers all highly liquid investments with original maturities of 90 days or less to be cash equivalents.
	Derivative financial instruments
	The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency.
	The Company reviews the terms of convertible debt and equity instruments it issues to determine whether there are derivative instruments, including an embedded conversion option that is required to be bifurcated and accounted for separately as a derivative financial instrument. In circumstances where a host instrument contains more than one embedded derivative instrument, including a conversion option, that is required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. Also, in connection with the sale of convertible debt and equity instruments, the Company may issue freestanding warrants that may, depending on their terms, be accounted for as derivative instrument liabilities, rather than as equity.
	Derivative instruments are initially recorded at fair value and are then revalued at each reporting date with changes in the fair value reported as non-operating income or expense. When the convertible debt or equity instruments contain embedded derivative instruments that are to be bifurcated and accounted for as liabilities, the total proceeds allocated to the convertible host instruments are first allocated to the fair value of all the bifurcated derivative instruments. The remaining proceeds, if any, are then allocated to the convertible instruments themselves, usually resulting in those instruments being recorded at a discount from their face value.
	The discount from the face value of the convertible debt, together with the stated interest on the instrument, is amortized over the life of the instrument through periodic charges to interest expense, using the effective interest method.
	Restricted cash
	As of June 30, 2014 and March 31, 2014, the Company had approximately $78,800 of restricted cash deposited with a financial institution. The entire amount is held in certificates of deposit to support a letter of credit agreement related to the Company’s facility lease.
	Inventory
	Inventories are stated at the lower of the cost or market (first-in, first-out). Inventory consisted of approximately $71,000 and $63,000 in raw materials as of June 30, 2014 and March 31, 2014, respectively, net of reserves.
	The Company provides inventory allowances based on excess or obsolete inventories determined based on anticipated use in the final product. The reserve for obsolete inventory at June 30, 2014 and March 31, 2014 was approximately $31,000.
	Fixed assets and depreciation
	Property and equipment are carried at cost. Expenditures that extend the life of the asset are capitalized and depreciated. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the related assets or, in the case of leasehold improvements, over the lesser of the useful life of the related asset or the remaining lease term. The estimated useful lives of the fixed assets range between two and five years.
	Impairment of long-lived assets
	In accordance with authoritative guidance, the Company reviews its long-lived assets, including property and equipment and other assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. To determine recoverability of its long-lived assets, the Company evaluates whether future undiscounted net cash flows will be less than the carrying amount of the assets and adjusts the carrying amount of its assets to fair value. Management has determined that no impairment of long-lived assets has occurred through June 30, 2014.
	Fair value measurement
	Financial assets and liabilities are measured at fair value, which is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The following is a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:
		•		Level 1 — Quoted prices in active markets for identical assets or liabilities.
		•		Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
		•		Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
	The Company has issued warrants, of which some are classified as derivative liabilities as a result of the terms in the warrants that provide for down-round protection in the event of a dilutive issuance. The Company uses Level 3 inputs for its valuation methodology for the warrant derivative liabilities. The estimated fair values were determined using a Monte Carlo option pricing model based on various assumptions (see Note 2). The Company’s derivative liabilities are adjusted to reflect estimated fair value at each period end, with any decrease or increase in the estimated fair value being recorded in other income or expense accordingly, as adjustments to the fair value of derivative liabilities. Various factors are considered in the pricing models the Company uses to value the warrants, including the Company’s current stock price, the remaining life of the warrants, the volatility of the Company’s stock price, and the risk-free interest rate. Future changes in these factors will have a significant impact on the computed fair value of the warrant liability. As such, future changes in the fair value of the warrants could vary significantly from quarter to quarter.
	The estimated fair values of the liabilities measured on a recurring basis are as follows:
			Fair Value Measurements at June 30 and March 31, 2014 (in thousands):
			Balance at			Quoted		Significant		Significant
			June 30,			Prices in		Other		Other
			2014			Active		Observable		Unobservable
						Markets		Inputs		Inputs
						(Level 1)		(Level 2)		(Level 3)
	Warrant liability		$	352			—		—	$	352
			Balance at			Quoted		Significant		Significant
			March 31,			Prices in		Other		Other
			2014			Active		Observable		Unobservable
						Markets		Inputs		Inputs
						(Level 1)		(Level 2)		(Level 3)
	Warrant liability		$	377			—		—	$	377
	The following table presents the activity for liabilities measured at estimated fair value using unobservable inputs for the three months ended June 30, 2014:
	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
			Warrant
			Derivative
			Liability
			(in thousands)
	Balance at March 31, 2014		$	377
	Issuances			—
	Adjustments to estimated fair value			30
	Warrant liability removal due to settlements			(55	)
Warrant liability reclassified to equity			—
Balance at June 30, 2014		$	352
Research and development
Research and development expenses, including direct and allocated expenses, consist of independent research and development costs, as well as costs associated with sponsored research and development. Research and development costs are expensed as incurred.
Income taxes
Deferred income taxes are recognized for the tax consequences in future years for differences between the tax basis of assets and liabilities and their financial reporting amounts at each year end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the combination of the tax payable for the year and the change during the year in deferred tax assets and liabilities.
Revenue recognition
The Company’s revenues are derived from collaborative research agreements, grants from the NIH, U.S. Treasury Department and private not-for-profit organizations.
The Company recognizes revenue when the following criteria have been met: (i) persuasive evidence of an arrangement exists; (ii) services have been rendered or product has been delivered; (iii) price to the customer is fixed and determinable; and (iv) collection of the underlying receivable is reasonably assured.
Billings to customers or payments received from customers are included in deferred revenue on the balance sheet until all revenue recognition criteria are met. As of June 30, 2014 and March 31, 2014, the Company had approximately $147,000 and $17,000, respectively, in deferred revenue related to its grants and collaborative research programs.
Research and Development Revenue Under Collaborative Agreements
The Company’s collaboration revenue consists of license and collaboration agreements that contain multiple elements, including non-refundable up-front fees, payments for reimbursement of third-party research costs, payments for ongoing research, payments associated with achieving specific development milestones and royalties based on specified percentages of net product sales, if any. The Company considers a variety of factors in determining the appropriate method of revenue recognition under these arrangements, such as whether the elements are separable, whether there are determinable fair values and whether there is a unique earnings process associated with each element of a contract.
The Company recognizes revenue from research funding under collaboration agreements when earned on a “proportional performance” basis as research hours are incurred. The Company performs services as specified in each respective agreement on a best-efforts basis, and is reimbursed based on labor hours incurred on each contract. The Company initially defers revenue for any amounts billed or payments received in advance of the services being performed, and recognizes revenue pursuant to the related pattern of performance, based on total labor hours incurred relative to total labor hours estimated under the contract.
Revenue Arrangements with Multiple Deliverables
The Company occasionally enters into revenue arrangements that contain multiple deliverables. Judgment is required to properly identify the accounting units of the multiple deliverable transactions and to determine the manner in which revenue should be allocated among the accounting units. Moreover, judgment is used in interpreting the commercial terms and determining when all criteria of revenue recognition have been met for each deliverable in order for revenue recognition to occur in the appropriate accounting period. For multiple deliverable agreements, consideration is allocated at the inception of the agreement to all deliverables based on their relative selling price. The relative selling price for each deliverable is determined using vendor-specific objective evidence (“VSOE”) of selling price or third-party evidence of selling price if VSOE does not exist. If neither VSOE nor third-party evidence of selling price exists, the Company uses its best estimate of the selling price for the deliverable.
The Company recognizes revenue for delivered elements only when it determines there are no uncertainties regarding customer acceptance. While changes in the allocation of the arrangement consideration between the units of accounting will not affect the amount of total revenue recognized for a particular sales arrangement, any material changes in these allocations could impact the timing of revenue recognition, which could affect the Company’s results of operations.
The Company expects to periodically receive license fees for non-exclusive research licensing associated with funded research projects. License fees under these arrangements are recognized over the term of the contract or development period as it has been determined that such licenses do not have stand-alone value.
Grant Revenues
During 2012, the NIH awarded the Company a research grant totaling approximately $290,000. Revenue from the NIH grant is based upon internal and subcontractor costs incurred that are specifically covered by the grant, and an additional facilities and administrative rate that provides funding for overhead expenses. This revenue is recognized when expenses have been incurred by subcontractors and as the Company incurs internal expenses that are related to the grants. Activities under this grant concluded in April 2013. Revenue recognized under the grant was approximately $12,000 for the three months ended June 30, 2013.
During August of 2013, the Company was awarded a research grant by a private, not-for-profit organization for up to $251,700, contingent on go/no-go decisions made by the grantor at the completion of each stage of research as outlined in the grant award. Revenues from the grant are based upon internal costs incurred that are specifically covered by the grant, plus an additional rate that provides funding for overhead expenses. Revenue is recognized when the Company incurs expenses that are related to the grant. Revenue recognized under this grant was approximately $30,000 for the three months ended June 30, 2014.
Stock-based compensation
The Company accounts for stock-based compensation in accordance with the Financial Accounting Standards Board’s (“FASB”) ASC Topic 718, Compensation — Stock Compensation, which establishes accounting for equity instruments exchanged for employee services. Under such provisions, stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense, under the straight-line method, over the employee’s requisite service period (generally the vesting period of the equity grant).
The Company accounts for equity instruments, including restricted stock or stock options, issued to non-employees in accordance with authoritative guidance for equity based payments to non-employees. Stock options issued to non-employees are accounted for at their estimated fair value determined using the Black-Scholes option-pricing model. The fair value of options granted to non-employees is re-measured as they vest, and the resulting increase in value, if any, is recognized as expense during the period the related services are rendered. Restricted stock issued to non-employees is accounted for at its estimated fair value as it vests.
Comprehensive income (loss)
Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive income (loss) in the financial statements in the period in which they are recognized. Net income (loss) and other comprehensive income (loss), including unrealized gains and losses on investments, are reported, net of their related tax effect, to arrive at comprehensive income (loss). For the three months ended June 30, 2014 and 2013, the comprehensive loss was equal to the net loss.
Net loss per share
Basic and diluted net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares used to compute diluted loss per share excludes any assumed exercise of stock options and warrants, the assumed release of restriction of restricted stock units, and shares subject to repurchase as the effect would be anti-dilutive. No dilutive effect was calculated for the three months ended June 30, 2014 or 2013, as the Company reported a net loss for each respective period and the effect would have been anti-dilutive. Common stock equivalents excluded from computing diluted net loss per share were approximately 7.8 million and 8.7 million for the three months ended June 30, 2014 and 2013, respectively.
Reclassifications
Certain reclassifications were made to the Condensed Consolidated Statement of Operations for the three months ended June 30, 2013 in order to conform to the presentation of the Condensed Consolidated Statement of Operations for the three months ended June 30, 2014. The reclassifications did not have any effect on previously reported net loss.

Derivative_Liability

Derivative Liability	3 Months Ended
	Jun. 30, 2014
Derivative Instruments And Hedging Activities Disclosure [Abstract]	'
Derivative Liability	'
	2. Derivative Liability
	During 2011 and 2012, the Company issued five-year warrants to purchase its common stock. For certain of these warrants, the exercise price is protected against down-round financing throughout the term of the warrant. Pursuant to ASC 815-15 and ASC 815-40, the fair value of the warrants was recorded as a derivative liability on the issuance dates.
	The Company revalues the warrants classified as derivative liabilities as of the end of each reporting period. The estimated fair value of the outstanding warrant liabilities was approximately $0.4 million as of June 30, 2014 and March 31, 2014. The changes in fair value of the derivative liabilities for the three months ended June 30, 2014 and 2013 were increases of approximately $30,000 and $23,000, respectively, and are included in other expense in the statement of operations.
	During the three months ended June 30, 2014 and 2013, 8,647 and 35,000 warrants, respectively, that were classified as derivative liabilities were exercised. The warrants were revalued as of the settlement dates, and the change in fair value was recognized to earnings. In addition, during the three months ended June 30, 2013, the Company entered into amendment agreements with certain of the warrant holders, which removed the down-round pricing protection provisions, resulting in 269,657 of these warrants being reclassified from liability instruments to equity instruments. The Company also recognized a reduction in the warrant liability based on the fair value as of the settlement date for the warrants exercised and as of the modification date for the warrants that were amended, with a corresponding increase in additional paid-in capital.
	The derivative liabilities were valued at the closing dates of the Private Placement and the end of each reporting period using a Monte Carlo valuation model with the following assumptions:
		June 30, 2014			March 31, 2014			June 30, 2013
	Closing price per share of common stock	$	8.35		$	7.64		$	3.78
	Exercise price per share	$	1		$	1		$	1
	Expected volatility		78.2	%		76.5	%		86.9	%
	Risk-free interest rate		1.62	%		0.9	%		1.04	%
	Dividend yield		—			—			—
	Remaining expected term of underlying securities (years)		2.71			2.96			3.63

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Stockholders' Equity	'
	3. Stockholders’ Equity
	Common stock
	A shelf registration statement on Form S-3 (File No. 333-189995), or shelf, was filed with the SEC on July 17, 2013 authorizing the offer and sale in one or more offerings of up to $100,000,000 in aggregate of common stock, preferred stock, debt securities, warrants to purchase common stock, preferred stock or debt securities, or any combination of the foregoing, either individually or as units comprised of one or more of the other securities. This shelf was declared effective by the SEC on July 26, 2013.
	On August 2, 2013, the Company, entered into an Underwriting Agreement (the “Underwriting Agreement”) with Lazard Capital Markets LLC, acting as representative of the underwriters named in the Underwriting Agreement (the “Underwriters”) and joint book-runner with Oppenheimer & Co. Inc., relating to the issuance and sale of 10,350,000 shares of the Company’s common stock, which includes the issuance and sale of 1,350,000 shares pursuant to an overallotment option exercised by the Underwriters on August 5, 2013 (the “Offering”). JMP Securities LLC and Maxim Group LLC each acted as co-managers for the Offering. The price to the public in the Offering was $4.50 per share, and the Underwriters purchased the shares from the Company pursuant to the Underwriting Agreement at a price of $4.23 per share. The net proceeds to the Company from the Offering were approximately $43.4 million, after deducting underwriting discounts and commissions and other offering expenses of $3.2 million payable by the Company, including the Underwriters’ exercise of the overallotment option. The transactions contemplated by the Underwriting Agreement closed on August 7, 2013.
	In November 2013, the Company entered into an equity distribution agreement with an investment banking firm. Under the terms of the distribution agreement, the Company may offer and sell up to 4,000,000 shares of its common stock, from time to time, through the investment bank in “at the market” offerings, as defined by the SEC, and pursuant to the Company’s effective shelf registration statement previously filed with the SEC. During the year ended March 31, 2014, the Company issued 334,412 shares of common stock in at the market offerings under the distribution agreement with net proceeds of $3.5 million. No shares of common stock were issued under the distribution agreement during the three months ended June 30, 2014. See Note 7.
	In addition, during the three months ended June 30, 2014 and 2013, the Company issued 110,600 and 200,135 shares of common stock upon exercise of 111,647 and 252,129 warrants, respectively.
	Finally, during the three months ended June 30, 2014, the Company issued 60,522 shares of common stock upon exercise of 60,522 stock options. No stock options were exercised during the three months ended June 30, 2013.
	Restricted stock awards
	In May 2008, the Board of Directors of the Company approved the 2008 Equity Incentive Plan (the “2008 Plan”). The 2008 Plan authorized the issuance of up to 1,521,584 common shares for awards of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock award units, and stock appreciation rights. The 2008 Plan terminates on July 1, 2018. No shares have been issued under the 2008 Plan since 2011, and the Company does not intend to issue any additional shares from the 2008 Plan in the future.
	In January 2012, the Board of Directors of the Company approved the 2012 Equity Incentive Plan (the “2012 Plan). The 2012 Plan authorized the issuance of up to 6,553,986 shares of common stock for awards of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, performance shares, and other stock or cash awards. The Board of Directors and stockholders of the Company approved an amendment to the 2012 Plan in July 2013 and August 2013, respectively, to increase the number of shares of common stock that may be issued under the 2012 Plan by 5,000,000 shares, for an aggregate of 11,553,986 shares issuable under the 2012 Plan. The 2012 Plan terminates ten years after its adoption.
	During the three months ended June 30, 2013, the Company issued an aggregate of 60,000 restricted stock units with immediate vesting to a consultant. No restricted stock units were awarded during the three months ended June 30, 2014.
	During the three months ended June 30, 2014 and 2013, there were 2,301 and 2,543 shares of restricted stock, respectively, cancelled related to shares of common stock returned to the Company, at the option of the holders, to cover the tax liability related to the vesting of 6,250 and 6,250 restricted stock units, respectively. Upon the return of the common stock, an equal number of stock options with immediate vesting were granted to the individuals at the vesting date market value strike price.
	There are 200,000 of restricted stock awards that were issued to a member of senior management in a prior year, the vesting of which is performance based. As of June 30, 2014, the Company believed the financial targets would be met, and accordingly is recognizing the related stock-based compensation expense over the requisite service period.
	A summary of the Company’s restricted stock award activity from March 31, 2014 through June 30, 2014 is as follows:
		Number of
		Shares
	Unvested at March 31, 2014		573,495
	Granted		—
	Vested		(6,250	)
	Canceled / forfeited		—
	Unvested at June 30, 2014		567,245
	The fair value of each restricted common stock award is recognized as stock-based compensation expense over the vesting term of the award. The Company recorded restricted stock-based compensation expense in operating expenses for employees and non-employees of approximately $133,000 and $402,000 for the three months ended June 30, 2014 and 2013, respectively. Stock-based compensation expense included in research and development was $4,000 and $4,000 for the three months ended June 30, 2014 and 2013, respectively. Stock-based compensation expense included in general and administrative expense was $129,000 and $398,000 for the three months ended June 30, 2014 and 2013, respectively.
	As of June 30, 2014, total unrecognized restricted stock-based compensation expense was approximately $600,000, which will be recognized over a weighted average period of 1.24 years.
	Stock options
	Under the 2012 Plan, 266,801 and 51,500 incentive stock options were issued during the three months ended June 30, 2014 and 2013, respectively, at various exercise prices. The stock options generally vest over a four-year period, with a quarter vesting on either the one year anniversary of employment or the one year anniversary of the vesting commencement date, and the remainder vesting ratably over the remaining 36 month terms. The Company also issued 45,500 non-qualified stock option grants during the three month period ended June 30, 2013, which vest quarterly over three years.
	A summary of the Company’s stock option activity for the three months ended June 30, 2014 is as follows:
		Options			Weighted-			Aggregate
		Outstanding			Average			Intrinsic
					Exercise Price			Value
	Outstanding at March 31, 2014		5,935,888		$	4.87		$	20,482,823
	Options granted		266,801		$	7.31
	Options canceled		(22,125	)	$	7.22
	Options exercised		(60,522	)	$	1.83		$	279,284
	Outstanding at June 30, 2014		6,120,042		$	5		$	23,228,321
	Vested and Exercisable at June 30, 2014		1,942,013		$	2.48		$	11,491,009
	The weighted-average remaining contractual term of options exercisable and outstanding at June 30, 2014 was approximately 8.16 years and 8.73 years, respectively.
	The Company uses the Black-Scholes valuation model to calculate the fair value of stock options. Stock-based compensation expense is recognized over the vesting period using the straight-line method. The fair value of stock options was estimated at the grant date using the following weighted average assumptions:
		Three Months Ended			Three Months Ended
		30-Jun-14			30-Jun-13
	Dividend yield		—			—
	Volatility		78.02	%		86.9	%
	Risk-free interest rate		1.56	%		1.04	%
	Expected life of options		6.00 years			6.00 years
	Weighted average grant date fair value	$	4.94		$	2.99
	The assumed dividend yield was based on the Company’s expectation of not paying dividends in the foreseeable future. Due to the Company’s limited historical data, the estimated volatility incorporates the historical and implied volatility of comparable companies whose share prices are publicly available. The risk-free interest rate assumption was based on the U.S. Treasury rates. The weighted average expected life of options was estimated using the average of the contractual term and the weighted average vesting term of the options. Certain options granted to consultants are subject to variable accounting treatment and are required to be revalued until vested.
	The total stock option-based compensation recorded as operating expense was approximately $1,405,000 and $400,000 for the three months ended June 30, 2014 and 2013, respectively. Expense included in research and development was $248,000 and $67,000 for the three months ended June 30, 2014 and 2013, respectively. Expense included in general and administrative was $1,157,000 and $333,000 for the three months ended June 30, 2014 and 2013, respectively.
	The total unrecognized compensation cost related to unvested stock option grants as of June 30, 2014 was approximately $15,800,000 and the weighted average period over which these grants are expected to vest is 3.32 years.
	Warrants
	During the three months ended June 30, 2014 and 2013, 8,647 and 252,129 warrants, respectively, were exercised through a cashless exercise provision for issuance of 7,600 and 200,135 shares of common stock, respectively. Also during the three months ended June 30, 2014 and 2013, 103,000 and 100,000 warrants, respectively, were exercised at prices ranging from $1.00 to $2.21 for total proceeds of $224,000 and $100,000, respectively.
	8,647 and 35,000 of the warrants exercised during the three months ended June 30, 2014 and 2013, respectively, were derivative liabilities and were valued at the settlement date. For the three months ended June 30, 2014 and 2013, approximately $55,000 and $129,000, respectively, of the warrant liability was removed due to the exercise of these warrants. (See Note 2).
	During April 2013, the Company entered into amendment agreements for 269,657 warrants to purchase common stock which reduced the exercise price of the warrants from $1.00 to $0.85 and removed the down-round price protection provision of the warrant agreement related to the adjustment of exercise price upon issuance of additional shares of common stock. As a result of the removal of the down-round price protection provision, the warrants were reclassified from liability to equity instruments at their fair value of $767,000. The Company determined the incremental expense associated with the modification based on the fair value of the awards prior to and subsequent to the modification. The fair value of the awards subsequent to modification was calculated using the Black-Scholes model. The incremental expense associated with the modification of approximately $12,000 was recognized as interest expense for the three months ended June 30, 2013.
	During the year ended December 31, 2012, the Company entered into four agreements with consultants for services. In connection with the agreements, the Company issued a total of 650,000 warrants to purchase common stock, at prices ranging from $1.70 to $3.24, with lives ranging from two to five years, to be earned over service periods of up to six months. The fair value of the warrants was estimated to be approximately $890,000, which was recognized as a prepaid asset and was amortized over the term of the consulting agreements. These warrants were classified as equity instruments because they do not contain any anti-dilution provisions. The Black-Scholes model, using volatility rates ranging from 79.8% to 103.8% and risk-free interest rate factors ranging from 0.24% to 0.63%, were used to determine the value. The value has been amortized over the term of the agreements. The Company recognized approximately $72,000 during the three months ended June 30, 2013 related to these services.
	Additionally, during November 2013 the Company entered into an agreement with a consultant for services. In connection with the agreement, the Company issued 75,000 warrants to purchase common stock, at a price of $7.36, with a life of five years, to be earned over a twelve month service period. The fair value of the warrants was estimated to be approximately $404,000, which was recognized as a prepaid asset and is being amortized over the term of the consulting agreement. These warrants were classified as equity instruments because they do not contain any anti-dilution provisions. The Black-Scholes model, using a volatility rate of 96.90% and a risk-free interest rate factor of 0.60%, was used to determine the value. The Company recognized approximately $101,000 during the three months ended June 30, 2014 related to these services.
	The following table summarizes warrant activity for the three months ended June 30, 2014:
		Warrants			Weighted-
					Average
					Exercise Price
	Balance at March 31, 2014		1,194,756		$	1.79
	Granted		—			—
	Exercised		(111,647	)	$	2.08
	Balance at June 30, 2014		1,083,109		$	1.76
	The warrants outstanding at June 30, 2014 are immediately exercisable at prices between $0.85 and $7.36 per share, and have a weighted average remaining term of approximately 2.73 years.
	Common stock reserved for future issuance
Common stock reserved for future issuance consisted of the following at June 30, 2014:
Common stock warrants outstanding		1,083,109
Common stock options outstanding under the 2008 Plan		672,192
Common stock options outstanding and reserved under the 2012 Plan		9,476,768
Total		11,232,069
Preferred stock
The Company is authorized to issue 25,000,000 shares of preferred stock. There are no shares of preferred stock currently outstanding, and the Company has no present plans to issue shares of preferred stock.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2014
Commitments And Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	4. Commitments and Contingencies
	Operating leases
	The Company leases office and laboratory space under a non-cancelable operating lease which was entered into in February 2012 and amended in December 2013, with the future minimum lease payments from the lease included below. The Company records rent expense on a straight-line basis over the life of the lease and records the excess of expense over the amounts paid as deferred rent. Deferred rent is included in accrued expenses in the condensed consolidated balance sheets.
	Rent expense was approximately $235,000 and $105,000 for the three months ended June 30, 2014 and 2013, respectively.
	On February 27, 2012, the Company entered into a facilities lease at 6275 Nancy Ridge Drive (the “Original Lease”), San Diego, CA 92121, with occupancy as of July 15, 2012. The base rent under the lease was approximately $38,800 per month with 3% annual escalators. The lease term was 48 months with an option for the Company to extend the lease at the end of the lease term.
	On December 5, 2013, the Company entered into a First Amendment (the “Amendment”) to the Original Lease, together with the Amendment, (the “Amended Lease”). Pursuant to the Amendment, the Company expanded the size of its facility by approximately 15,268 square feet (the “Expansion Premises”) from approximately 15,539 square feet (the “Original Premises”) for a total of approximately 30,807 square feet. The Amended Lease provides for base rent (i) on the Original Premises to continue at approximately $38,800 per month, with annual escalators, until August 1, 2016, at which point the base rent shall be payable at the same rate per rentable square foot as the Expansion Premises and (ii) on the Expansion Premises of approximately $38,934 per month, with 3% annual escalators, not to commence until two months after the earlier of (A) the date that the landlord delivers possession of the Expansion Premises to the Company with the work in the Expansion Lab Premises (as defined in the Amendment) substantially complete and (B) the date the landlord could have delivered the Expansion Premises with the work in the Expansion Lab Premises (as defined in the Amendment) substantially complete but for certain delays of the Company. Additionally, the Company has a right of first refusal on adjacent additional premises of approximately 14,500 square feet. The term of the Amended Lease expires on the seven-year anniversary of the earlier of (A) the date that the landlord delivers possession of the Expansion Premises to the Company and (B) the date the landlord could have delivered the Expansion Premises but for certain delays of the Company (the “Expansion Premises Commencement Date”). The target Expansion Premises Commencement Date is September 1, 2014. The Company also has the option to terminate the Amended Lease on the 5-year anniversary of the Expansion Premises Commencement Date. The Company intends for the Expansion Premises to contain office, laboratory, and clean room areas.
	Future minimum rental payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of June 30, 2014, are as follows (in thousands):
	Fiscal year ended March 31, 2015	$	567
	Fiscal year ended March 31, 2016		979
	Fiscal year ended March 31, 2017		984
	Fiscal year ended March 31, 2018		1,001
	Fiscal year ended March 31, 2019		1,031
	Thereafter		2,527
	Total	$	7,089
	Legal Matters
	In addition to commitments and obligations in the ordinary course of business, the Company is subject to various claims and pending and potential legal actions arising out of the normal conduct of its business. The Company assesses contingencies to determine the degree of probability and range of possible loss for potential accrual in its financial statements. An estimated loss contingency is accrued in its financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because litigation is inherently unpredictable and unfavorable resolutions could occur, assessing litigation contingencies is highly subjective and requires judgments about future events. When evaluating contingencies, the Company may be unable to provide a meaningful estimate due to a number of factors, including the procedural status of the matter in question, the presence of complex or novel legal theories, and/or the ongoing discovery and development of information important to the matters. In addition, damage amounts claimed in litigation against it may be unsupported, exaggerated or unrelated to possible outcomes, and as such are not meaningful indicators of its potential liability. The Company regularly reviews contingencies to determine the adequacy of its accruals and related disclosures. The amount of ultimate loss may differ from these estimates. It is possible that cash flows or results of operations could be materially affected in any particular period by the unfavorable resolution of one or more of these contingencies. Whether any losses finally determined in any claim, action, investigation or proceeding could reasonably have a material effect on the Company’s business, financial condition, results of operations or cash flows will depend on a number of variables, including: the timing and amount of such losses; the structure and type of any remedies; the monetary significance of any such losses, damages or remedies may have on our consolidated financial statements; and the unique facts and circumstances of the particular matter that may give rise to additional factors.
	Spencer Trask Matter. On June 28, 2013, the Company filed a lawsuit for declaratory relief in the Supreme Court for the State of New York (case # 652305/2013) against Spencer Trask Ventures, Inc. (“STV” or “Spencer Trask”) in connection with a Warrant Solicitation Agency Agreement (the “WSAA”) that the Company entered into with STV in February 2013 (the “New York Action”). In the New York Action, the Company is seeking a declaration that the WSAA remains a valid and enforceable agreement. Over the course of several weeks in February 2013, Organovo and STV, through their respective attorneys, negotiated the WSAA pursuant to which the Company engaged STV as the Company’s warrant solicitation agent in connection with the Company’s efforts to solicit the exercise of outstanding Organovo warrants during the first quarter of 2013. STV’s President signed the WSAA on behalf of STV, and the Company’s CEO executed the agreement on behalf of Organovo. Spencer Trask provided services to the Company pursuant to the WSAA, and the Company has paid STV for those services.
	The Company’s dispute with Spencer Trask arose in March 2013 after the Company approached Spencer Trask about exercising its outstanding warrants to help the Company qualify for up-listing its common stock on the NYSE MKT. Previously, Spencer Trask had not asserted any claims for additional compensation as a result of the warrant tender offer the Company completed in December 2012.
	In March 2013, the Company received two demand letters from STV, and a demand for arbitration notice in June 2013. In the first demand letter, STV alleges that it is entitled to compensation (including a cash fee and warrants to purchase common stock) as a result of the warrant tender offer the Company completed in December 2012 and as a result of the notice of warrant redemption the Company completed in March 2013. In the second letter, STV alleges it is entitled to damages because the Company allegedly violated confidentiality provisions in the Placement Agency Agreement (the “PAA”) the Company had previously entered into with STV in December 2012 in connection with the private placement financings the Company completed in February and March 2012 (the “Private Placements”), by contacting the warrant holders who participated in the warrant tender offer. In response, on June 28, 2013, the Company filed a lawsuit for declaratory relief in the Supreme Court for the State of New York against STV. The Company’s tender offer was made to warrant holders of record relating to warrants already owned by them and whose identity was public information via a Registration Statement on Form S-1 the Company was required to file to register the resale of the shares underlying their warrants. For these and other reasons, including applicability of the WSAA, the Company believes STV is not entitled to compensation under the PAA and there was no violation of confidentiality. The Company received notice on August 5, 2013 that STV had filed its arbitration demand with the arbitrator (the “Arbitration”). In July, 2013, the Company filed a motion to stay the arbitration pending determination of the New York Action. In January 2014, the New York Court stayed the New York Action, finding that the arbitrator should determine in the first instance which disputes between the Company and Spencer Trask should proceed in the Arbitration and which disputes between the Company and Spencer Trask should proceed in the New York Court. The parties are proceeding in the Arbitration and the Company has reserved its right to file a summary disposition motion with regard to the proper venue for its claims under the WSAA. The Arbitration is currently scheduled to commence during the second calendar quarter of 2015.
	The Company believes that the assertions made against it by STV are without merit and the Company intends to continue to vigorously defend against the claims made by STV. The Company has not established a loss contingency accrual for these claims because any potential liability is not probable or estimable. Nonetheless, an unfavorable resolution of these claims could have a material adverse effect on the Company’s business, liquidity or financial condition in the reporting period in which such resolution occurs.
	Other Legal Matters. In addition to the matter described above, the Company is subject to normal and routine litigation in the ordinary course of business. The Company has not accrued any loss contingencies for such matters. The Company intends to defend itself in any such matters and does not currently believe that the outcome of such matters will have a material adverse effect on its business, liquidity or financial position.

Concentrations

Concentrations	3 Months Ended
	Jun. 30, 2014
Risks And Uncertainties [Abstract]	'
Concentrations	'
	5. Concentrations
	Credit risk
	Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of temporary cash investments. The Company maintains cash balances at various financial institutions primarily located in San Diego. Accounts at these institutions are secured by the Federal Deposit Insurance Corporation. Balances may exceed federally insured limits. The Company has not experienced losses in such accounts, and management believes that the Company is not exposed to any significant credit risk with respect to its cash and cash equivalents.

Recently_Adopted_Accounting_St

Recently Adopted Accounting Standards	3 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Recently Adopted Accounting Standards	'
	6. Recently Adopted Accounting Standards
	In June 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-10, “Development Stage Entities”, which eliminated certain financial reporting requirements under Topic 915 for entities considered to be in the development stage. This standard becomes effective for annual reporting periods beginning after December 15, 2014 and interim reporting periods beginning after December 15, 2015, with earlier application permitted. The Company adopted this standard prospectively as of April 1, 2014. This adoption had no effect on current or previously reported amounts, but eliminated the need to present inception-to-date financial information that was previously required under Topic 915.

Subsequent_Events

Subsequent Events	3 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	7. Subsequent Events
	From July 1, 2014 to August 6, 2014, the Company sold 292,865 shares of its common stock in “at the market offerings” under its distribution agreement with an investment banking firm (see Note 3), for proceeds of approximately $2,391,700.

Description_of_Business_and_Su1

Description of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Nature of Operations and Basis of Presentation	'
	Nature of operations and basis of presentation
	References in these notes to the unaudited condensed consolidated financial statements to “Organovo Holdings, Inc.,” “Organovo Holdings,” “we,” “us,” “our,” “the Company” and “our Company” refer to Organovo Holdings, Inc. and its consolidated subsidiary Organovo, Inc. The Company is developing and commercializing functional three-dimensional (3D) human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs.
	As of June 30, 2014, the Company has devoted its efforts primarily to developing a platform technology for the generation of functional human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs, raising capital and building infrastructure. The Company has not yet realized significant revenues from its planned principal operations. The Company’s activities are subject to significant risks and uncertainties including failing to secure additional funding to operationalize the Company’s current technology before another company develops similar technology or products.
	The accompanying interim condensed consolidated financial statements have been prepared by the Company, without audit, in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair statement of its financial position, results of operations, stockholders’ equity and cash flows in accordance with generally accepted accounting principles (“GAAP”). The balance sheet at March 31, 2014 is derived from the audited balance sheet at that date.
	In the opinion of management, the unaudited financial information for the interim periods presented reflects all adjustments, which are only normal and recurring, necessary for a fair statement of the Company’s financial position, results of operations, stockholders’ equity (deficit) and cash flows. These financial statements should be read in conjunction with the financial statements included in the Company’s Annual Report filed on Form 10-K for the year ended March 31, 2014 filed with the Securities and Exchange Commission (the “SEC”) on June 10, 2014. Operating results for interim periods are not necessarily indicative of operating results for the Company’s fiscal year ending March 31, 2015.
Liquidity	'
	Liquidity
	As of June 30, 2014, the Company had an accumulated deficit of approximately $98.6 million. The Company also had negative cash flows from operations of approximately $3.4 million during the three months ended June 30, 2014.
	Through June 30, 2014, the Company has financed its operations primarily through the sale of convertible notes, the private placement of equity securities, the public offering of common stock, and through revenue derived from grants or collaborative research agreements or the commercialization of products and services. Based on its current operating plan and available cash resources, the Company has sufficient resources to fund its business for at least the next twelve months.
	The Company will need additional capital to further fund product development and commercialization of its human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs. The Company intends to cover its future operating expenses through cash on hand, through additional financing from existing and prospective investors, from revenue derived from grants and collaborative research agreements, and revenue from the commercialization of products and services. However, we may not be successful in obtaining sufficient funding to support our operations from new or existing collaborative research agreements or the commercialization of products and services. In addition, we cannot be sure that additional financing will be available when needed or that, if available, financing will be obtained on terms favorable to us or to our stockholders. Further, we cannot assure you that we will receive 100% of the potential funding under existing grants, and we may not be successful in securing additional grants in the future.
	Having insufficient funds may require us to delay, scale back, or eliminate some or all of our development programs or relinquish rights to our technology on less favorable terms than we would otherwise choose. Failure to obtain adequate financing could eventually adversely affect our ability to operate as a going concern. If we raise additional funds from the issuance of equity securities, substantial dilution to our existing stockholders would likely result. If we raise additional funds by incurring debt financing, the terms of the debt may involve significant cash payment obligations as well as covenants and specific financial ratios that may restrict our ability to operate our business.
Use of Estimates	'
	Use of estimates
	The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Significant estimates used in preparing the condensed consolidated financial statements include those assumed in computing the valuation of warrants, revenue recognized under the proportional performance model, the valuation of stock-based compensation expense, and the valuation allowance on deferred tax assets.
Financial Instruments	'
	Financial instruments
	For certain of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, inventory, prepaid expenses and other current assets, accounts payable, accrued expenses, deferred revenue and capital lease obligations, the carrying amounts are generally considered to be representative of their respective fair values because of the short-term nature of those instruments.
Cash and Cash Equivalents	'
	Cash and cash equivalents
	The Company considers all highly liquid investments with original maturities of 90 days or less to be cash equivalents.
Derivative Financial Instruments	'
	Derivative financial instruments
	The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency.
	The Company reviews the terms of convertible debt and equity instruments it issues to determine whether there are derivative instruments, including an embedded conversion option that is required to be bifurcated and accounted for separately as a derivative financial instrument. In circumstances where a host instrument contains more than one embedded derivative instrument, including a conversion option, that is required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. Also, in connection with the sale of convertible debt and equity instruments, the Company may issue freestanding warrants that may, depending on their terms, be accounted for as derivative instrument liabilities, rather than as equity.
	Derivative instruments are initially recorded at fair value and are then revalued at each reporting date with changes in the fair value reported as non-operating income or expense. When the convertible debt or equity instruments contain embedded derivative instruments that are to be bifurcated and accounted for as liabilities, the total proceeds allocated to the convertible host instruments are first allocated to the fair value of all the bifurcated derivative instruments. The remaining proceeds, if any, are then allocated to the convertible instruments themselves, usually resulting in those instruments being recorded at a discount from their face value.
	The discount from the face value of the convertible debt, together with the stated interest on the instrument, is amortized over the life of the instrument through periodic charges to interest expense, using the effective interest method.
Restricted Cash	'
	Restricted cash
	As of June 30, 2014 and March 31, 2014, the Company had approximately $78,800 of restricted cash deposited with a financial institution. The entire amount is held in certificates of deposit to support a letter of credit agreement related to the Company’s facility lease.
Inventory	'
	Inventory
	Inventories are stated at the lower of the cost or market (first-in, first-out). Inventory consisted of approximately $71,000 and $63,000 in raw materials as of June 30, 2014 and March 31, 2014, respectively, net of reserves.
	The Company provides inventory allowances based on excess or obsolete inventories determined based on anticipated use in the final product. The reserve for obsolete inventory at June 30, 2014 and March 31, 2014 was approximately $31,000.
Fixed Assets and Depreciation	'
	Fixed assets and depreciation
	Property and equipment are carried at cost. Expenditures that extend the life of the asset are capitalized and depreciated. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the related assets or, in the case of leasehold improvements, over the lesser of the useful life of the related asset or the remaining lease term. The estimated useful lives of the fixed assets range between two and five years.
Impairment of Long-Lived Assets	'
	Impairment of long-lived assets
	In accordance with authoritative guidance, the Company reviews its long-lived assets, including property and equipment and other assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. To determine recoverability of its long-lived assets, the Company evaluates whether future undiscounted net cash flows will be less than the carrying amount of the assets and adjusts the carrying amount of its assets to fair value. Management has determined that no impairment of long-lived assets has occurred through June 30, 2014.
Fair Value Measurement	'
	Fair value measurement
	Financial assets and liabilities are measured at fair value, which is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The following is a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:
		•		Level 1 — Quoted prices in active markets for identical assets or liabilities.
		•		Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
		•		Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
	The Company has issued warrants, of which some are classified as derivative liabilities as a result of the terms in the warrants that provide for down-round protection in the event of a dilutive issuance. The Company uses Level 3 inputs for its valuation methodology for the warrant derivative liabilities. The estimated fair values were determined using a Monte Carlo option pricing model based on various assumptions (see Note 2). The Company’s derivative liabilities are adjusted to reflect estimated fair value at each period end, with any decrease or increase in the estimated fair value being recorded in other income or expense accordingly, as adjustments to the fair value of derivative liabilities. Various factors are considered in the pricing models the Company uses to value the warrants, including the Company’s current stock price, the remaining life of the warrants, the volatility of the Company’s stock price, and the risk-free interest rate. Future changes in these factors will have a significant impact on the computed fair value of the warrant liability. As such, future changes in the fair value of the warrants could vary significantly from quarter to quarter.
	The estimated fair values of the liabilities measured on a recurring basis are as follows:
			Fair Value Measurements at June 30 and March 31, 2014 (in thousands):
			Balance at			Quoted		Significant		Significant
			June 30,			Prices in		Other		Other
			2014			Active		Observable		Unobservable
						Markets		Inputs		Inputs
						(Level 1)		(Level 2)		(Level 3)
	Warrant liability		$	352			—		—	$	352
			Balance at			Quoted		Significant		Significant
			March 31,			Prices in		Other		Other
			2014			Active		Observable		Unobservable
						Markets		Inputs		Inputs
						(Level 1)		(Level 2)		(Level 3)
	Warrant liability		$	377			—		—	$	377
	The following table presents the activity for liabilities measured at estimated fair value using unobservable inputs for the three months ended June 30, 2014:
	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
			Warrant
			Derivative
			Liability
			(in thousands)
	Balance at March 31, 2014		$	377
	Issuances			—
	Adjustments to estimated fair value			30
	Warrant liability removal due to settlements			(55	)
	Warrant liability reclassified to equity			—
	Balance at June 30, 2014		$	352
Research and Development	'
	Research and development
	Research and development expenses, including direct and allocated expenses, consist of independent research and development costs, as well as costs associated with sponsored research and development. Research and development costs are expensed as incurred.
Income Taxes	'
	Income taxes
	Deferred income taxes are recognized for the tax consequences in future years for differences between the tax basis of assets and liabilities and their financial reporting amounts at each year end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the combination of the tax payable for the year and the change during the year in deferred tax assets and liabilities.
Revenue Recognition	'
	Revenue recognition
	The Company’s revenues are derived from collaborative research agreements, grants from the NIH, U.S. Treasury Department and private not-for-profit organizations.
	The Company recognizes revenue when the following criteria have been met: (i) persuasive evidence of an arrangement exists; (ii) services have been rendered or product has been delivered; (iii) price to the customer is fixed and determinable; and (iv) collection of the underlying receivable is reasonably assured.
	Billings to customers or payments received from customers are included in deferred revenue on the balance sheet until all revenue recognition criteria are met. As of June 30, 2014 and March 31, 2014, the Company had approximately $147,000 and $17,000, respectively, in deferred revenue related to its grants and collaborative research programs.
Research and Development Revenue Under Collaborative Agreements	'
	Research and Development Revenue Under Collaborative Agreements
	The Company’s collaboration revenue consists of license and collaboration agreements that contain multiple elements, including non-refundable up-front fees, payments for reimbursement of third-party research costs, payments for ongoing research, payments associated with achieving specific development milestones and royalties based on specified percentages of net product sales, if any. The Company considers a variety of factors in determining the appropriate method of revenue recognition under these arrangements, such as whether the elements are separable, whether there are determinable fair values and whether there is a unique earnings process associated with each element of a contract.
	The Company recognizes revenue from research funding under collaboration agreements when earned on a “proportional performance” basis as research hours are incurred. The Company performs services as specified in each respective agreement on a best-efforts basis, and is reimbursed based on labor hours incurred on each contract. The Company initially defers revenue for any amounts billed or payments received in advance of the services being performed, and recognizes revenue pursuant to the related pattern of performance, based on total labor hours incurred relative to total labor hours estimated under the contract.
Revenue Arrangements with Multiple Deliverables	'
	Revenue Arrangements with Multiple Deliverables
	The Company occasionally enters into revenue arrangements that contain multiple deliverables. Judgment is required to properly identify the accounting units of the multiple deliverable transactions and to determine the manner in which revenue should be allocated among the accounting units. Moreover, judgment is used in interpreting the commercial terms and determining when all criteria of revenue recognition have been met for each deliverable in order for revenue recognition to occur in the appropriate accounting period. For multiple deliverable agreements, consideration is allocated at the inception of the agreement to all deliverables based on their relative selling price. The relative selling price for each deliverable is determined using vendor-specific objective evidence (“VSOE”) of selling price or third-party evidence of selling price if VSOE does not exist. If neither VSOE nor third-party evidence of selling price exists, the Company uses its best estimate of the selling price for the deliverable.
	The Company recognizes revenue for delivered elements only when it determines there are no uncertainties regarding customer acceptance. While changes in the allocation of the arrangement consideration between the units of accounting will not affect the amount of total revenue recognized for a particular sales arrangement, any material changes in these allocations could impact the timing of revenue recognition, which could affect the Company’s results of operations.
	The Company expects to periodically receive license fees for non-exclusive research licensing associated with funded research projects. License fees under these arrangements are recognized over the term of the contract or development period as it has been determined that such licenses do not have stand-alone value.
Grant Revenues	'
	Grant Revenues
	During 2012, the NIH awarded the Company a research grant totaling approximately $290,000. Revenue from the NIH grant is based upon internal and subcontractor costs incurred that are specifically covered by the grant, and an additional facilities and administrative rate that provides funding for overhead expenses. This revenue is recognized when expenses have been incurred by subcontractors and as the Company incurs internal expenses that are related to the grants. Activities under this grant concluded in April 2013. Revenue recognized under the grant was approximately $12,000 for the three months ended June 30, 2013.
	During August of 2013, the Company was awarded a research grant by a private, not-for-profit organization for up to $251,700, contingent on go/no-go decisions made by the grantor at the completion of each stage of research as outlined in the grant award. Revenues from the grant are based upon internal costs incurred that are specifically covered by the grant, plus an additional rate that provides funding for overhead expenses. Revenue is recognized when the Company incurs expenses that are related to the grant. Revenue recognized under this grant was approximately $30,000 for the three months ended June 30, 2014.
Stock-Based Compensation	'
	Stock-based compensation
	The Company accounts for stock-based compensation in accordance with the Financial Accounting Standards Board’s (“FASB”) ASC Topic 718, Compensation — Stock Compensation, which establishes accounting for equity instruments exchanged for employee services. Under such provisions, stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense, under the straight-line method, over the employee’s requisite service period (generally the vesting period of the equity grant).
	The Company accounts for equity instruments, including restricted stock or stock options, issued to non-employees in accordance with authoritative guidance for equity based payments to non-employees. Stock options issued to non-employees are accounted for at their estimated fair value determined using the Black-Scholes option-pricing model. The fair value of options granted to non-employees is re-measured as they vest, and the resulting increase in value, if any, is recognized as expense during the period the related services are rendered. Restricted stock issued to non-employees is accounted for at its estimated fair value as it vests.
Comprehensive Income (Loss)	'
	Comprehensive income (loss)
	Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive income (loss) in the financial statements in the period in which they are recognized. Net income (loss) and other comprehensive income (loss), including unrealized gains and losses on investments, are reported, net of their related tax effect, to arrive at comprehensive income (loss). For the three months ended June 30, 2014 and 2013, the comprehensive loss was equal to the net loss.
Net Loss per Share	'
	Net loss per share
	Basic and diluted net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares used to compute diluted loss per share excludes any assumed exercise of stock options and warrants, the assumed release of restriction of restricted stock units, and shares subject to repurchase as the effect would be anti-dilutive. No dilutive effect was calculated for the three months ended June 30, 2014 or 2013, as the Company reported a net loss for each respective period and the effect would have been anti-dilutive. Common stock equivalents excluded from computing diluted net loss per share were approximately 7.8 million and 8.7 million for the three months ended June 30, 2014 and 2013, respectively.
Reclassifications	'
	Reclassifications
	Certain reclassifications were made to the Condensed Consolidated Statement of Operations for the three months ended June 30, 2013 in order to conform to the presentation of the Condensed Consolidated Statement of Operations for the three months ended June 30, 2014. The reclassifications did not have any effect on previously reported net loss.

Description_of_Business_and_Su2

Description of Business and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Estimated Fair Values of Liabilities Measured on Recurring Basis	'
	The estimated fair values of the liabilities measured on a recurring basis are as follows:
		Fair Value Measurements at June 30 and March 31, 2014 (in thousands):
		Balance at			Quoted		Significant		Significant
		June 30,			Prices in		Other		Other
		2014			Active		Observable		Unobservable
					Markets		Inputs		Inputs
					(Level 1)		(Level 2)		(Level 3)
	Warrant liability	$	352			—		—	$	352
		Balance at			Quoted		Significant		Significant
		March 31,			Prices in		Other		Other
		2014			Active		Observable		Unobservable
					Markets		Inputs		Inputs
					(Level 1)		(Level 2)		(Level 3)
	Warrant liability	$	377			—		—	$	377
Activity for Liabilities Measured at Estimated Fair Value Using Unobservable Inputs	'
	The following table presents the activity for liabilities measured at estimated fair value using unobservable inputs for the three months ended June 30, 2014:
	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
		Warrant
		Derivative
		Liability
		(in thousands)
	Balance at March 31, 2014	$	377
	Issuances		—
	Adjustments to estimated fair value		30
	Warrant liability removal due to settlements		(55	)
	Warrant liability reclassified to equity		—
	Balance at June 30, 2014	$	352

Derivative_Liability_Tables

Derivative Liability (Tables)	3 Months Ended
	Jun. 30, 2014
Derivative Instruments And Hedging Activities Disclosure [Abstract]	'
Assumptions Used to Value Derivative Liabilities at Closing Dates of Private Placements	'
	The derivative liabilities were valued at the closing dates of the Private Placement and the end of each reporting period using a Monte Carlo valuation model with the following assumptions:
		June 30, 2014			March 31, 2014			June 30, 2013
	Closing price per share of common stock	$	8.35		$	7.64		$	3.78
	Exercise price per share	$	1		$	1		$	1
	Expected volatility		78.2	%		76.5	%		86.9	%
	Risk-free interest rate		1.62	%		0.9	%		1.04	%
	Dividend yield		—			—			—
	Remaining expected term of underlying securities (years)		2.71			2.96			3.63

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	3 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Summary of Company's Restricted Stock Award Activity	'
	A summary of the Company’s restricted stock award activity from March 31, 2014 through June 30, 2014 is as follows:
		Number of
		Shares
	Unvested at March 31, 2014		573,495
	Granted		—
	Vested		(6,250	)
	Canceled / forfeited		—
	Unvested at June 30, 2014		567,245
Summary of Stock Option Activity	'
	A summary of the Company’s stock option activity for the three months ended June 30, 2014 is as follows:
		Options			Weighted-			Aggregate
		Outstanding			Average			Intrinsic
					Exercise Price			Value
	Outstanding at March 31, 2014		5,935,888		$	4.87		$	20,482,823
	Options granted		266,801		$	7.31
	Options canceled		(22,125	)	$	7.22
	Options exercised		(60,522	)	$	1.83		$	279,284
	Outstanding at June 30, 2014		6,120,042		$	5		$	23,228,321
	Vested and Exercisable at June 30, 2014		1,942,013		$	2.48		$	11,491,009
Fair Value of Employee Stock Options	'
	The fair value of stock options was estimated at the grant date using the following weighted average assumptions:
		Three Months Ended			Three Months Ended
		30-Jun-14			30-Jun-13
	Dividend yield		—			—
	Volatility		78.02	%		86.9	%
	Risk-free interest rate		1.56	%		1.04	%
	Expected life of options		6.00 years			6.00 years
	Weighted average grant date fair value	$	4.94		$	2.99
Summary of Warrant Activity	'
	The following table summarizes warrant activity for the three months ended June 30, 2014:
		Warrants			Weighted-
					Average
					Exercise Price
	Balance at March 31, 2014		1,194,756		$	1.79
	Granted		—			—
	Exercised		(111,647	)	$	2.08
	Balance at June 30, 2014		1,083,109		$	1.76
Common Stock Reserved for Future Issuance	'
	Common stock reserved for future issuance consisted of the following at June 30, 2014:
	Common stock warrants outstanding		1,083,109
	Common stock options outstanding under the 2008 Plan		672,192
	Common stock options outstanding and reserved under the 2012 Plan		9,476,768
	Total		11,232,069

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
	Jun. 30, 2014
Commitments And Contingencies Disclosure [Abstract]	'
Future Minimum Rental Payments Required under Operating Leases that have Initial or Remaining Non-Cancelable Lease Terms in Excess of One Year	'
	Future minimum rental payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of June 30, 2014, are as follows (in thousands):
	Fiscal year ended March 31, 2015	$	567
	Fiscal year ended March 31, 2016		979
	Fiscal year ended March 31, 2017		984
	Fiscal year ended March 31, 2018		1,001
	Fiscal year ended March 31, 2019		1,031
	Thereafter		2,527
	Total	$	7,089

Description_of_Business_and_Su3

Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)

3 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Mar. 31, 2014

Mar. 31, 2013

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2013

Dec. 31, 2012

Aug. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Research and Development Services [Member]

Research and Development Services [Member]

NHLBI [Member]

NHLBI [Member]

Private, Not-for-Profit Organization [Member]

Private, Not-for-Profit Organization [Member]

Maximum [Member]

Minimum [Member]

Significant Accounting Policies Related To Business Acquisition Revenue Recognition And Earnings Per Share [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Accumulated deficit

$98,646,000

'

$92,213,000

'

'

'

'

'

'

'

'

'

Cash flow from operations

3,400,000

'

'

'

'

'

'

'

'

'

'

'

Maturity of highly liquid investment

'

'

'

'

'

'

'

'

'

'

'90 days

'

Restricted cash

79,000

'

79,000

'

'

'

'

'

'

'

'

'

Inventory of raw materials, net of reserves

71,000

'

63,000

'

'

'

'

'

'

'

'

'

Obsolete inventory reserve

31,000

'

'

31,000

'

'

'

'

'

'

'

'

Estimated useful life of the fixed assets

'The estimated useful lives of the fixed assets range between two and five years.

'

'

'

'

'

'

'

'

'

'

'

Useful life of fixed assets, range

'

'

'

'

'

'

'

'

'

'

'5 years

'2 years

Impairment of long-lived assets

0

'

'

'

'

'

'

'

'

'

'

'

Deferred revenue related to collaborative research programs

144,000

'

13,000

'

147,000

17,000

'

'

'

'

'

'

Revenue recognized under grants

30,000

12,000

'

'

'

'

12,000

290,000

251,700

30,000

'

'

Dilutive effect

0

0

'

'

'

'

'

'

'

'

'

'

Net Income loss available to common stockholders, diluted

$7,800,000

$8,700,000

'

'

'

'

'

'

'

'

'

'

Description_of_Business_and_Su4

Description of Business and Summary of Significant Accounting Policies - Estimated Fair Values of Liabilities Measured on Recurring Basis (Detail) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Warrant liability	$352	$377
Warrants [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Warrant liability	352	377
Warrants [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Warrant liability	'	'
Warrants [Member] | Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Warrant liability	'	'
Warrants [Member] | Significant Other Unobservable Inputs (Level 3) [Member]	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Warrant liability	352	377
Warrants [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Warrant liability	$352	$377

Description_of_Business_and_Su5

Description of Business and Summary of Significant Accounting Policies - Activity for Liabilities Measured at Estimated Fair Value Using Unobservable Inputs (Detail) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Warrant Derivative Liability, Beginning balance	$377,000	'
Adjustments to estimated fair value	30,000	23,000
Warrant liability reclassified to equity	0	-767,000
Warrant Derivative Liability, Ending balance	352,000	'
Warrants [Member]	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Adjustments to estimated fair value	30,000	23,000
Warrant liability removal due to settlements	-224,000	-100,000
Significant Other Unobservable Inputs (Level 3) [Member] | Warrants [Member]	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Warrant Derivative Liability, Beginning balance	377,000	'
Issuances	'	'
Adjustments to estimated fair value	30,000	'
Warrant liability removal due to settlements	-55,000	'
Warrant liability reclassified to equity	'	'
Warrant Derivative Liability, Ending balance	$352,000	'

Derivative_Liability_Additiona

Derivative Liability - Additional Information (Detail) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2014
Derivative [Line Items]	'	'	'
Change in fair value of the derivative liabilities increase and (decrease)	$30,000	$23,000	'
Exercised derivative liabilities	8,647	35,000	'
Warrants [Member]	'	'	'
Derivative [Line Items]	'	'	'
Estimated fair value of the outstanding warrant liabilities	400,000	'	400,000
Change in fair value of the derivative liabilities increase and (decrease)	$30,000	$23,000	'
Exercised derivative liabilities	8,647	35,000	'
Reclassification of warrant	'	269,657	'

Derivative_Liability_Assumptio

Derivative Liability - Assumptions Used to Value Derivative Liabilities at Closing Dates of Private Placements (Detail) (Warrant Derivative Liability [Member], USD $)	3 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2014
Warrant Derivative Liability [Member]	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'	'	'
Closing price per share of common stock	$8.35	$3.78	$7.64
Exercise price per share	$1	$1	$1
Expected volatility	78.20%	86.90%	76.50%
Risk-free interest rate	1.62%	1.04%	0.90%
Dividend yield	'	'	'
Remaining expected term of underlying securities (years)	'2 years 8 months 16 days	'3 years 7 months 17 days	'2 years 11 months 16 days

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)

0 Months Ended

3 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

3 Months Ended

Aug. 02, 2013

Jun. 30, 2014

Jun. 30, 2013

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Mar. 31, 2014

Nov. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Aug. 31, 2013

Jan. 31, 2012

Aug. 02, 2013

Jul. 17, 2013

Aug. 02, 2013

Jun. 30, 2014

Jun. 30, 2013

31-May-08

Research and development expense [Member]

Research and development expense [Member]

General and administrative expense [Member]

General and administrative expense [Member]

Equity Distribution Agreement [Member]

Equity Distribution Agreement [Member]

Equity Distribution Agreement [Member]

Restricted stock units (RSUs) [Member]

Restricted stock units (RSUs) [Member]

Restricted stock units (RSUs) [Member]

Restricted stock units (RSUs) [Member]

Restricted stock [Member]

Restricted stock [Member]

Restricted stock [Member]

Equity Incentive Plan 2012 [Member]

Equity Incentive Plan 2012 [Member]

Equity Incentive Plan 2012 [Member]

Underwriting Agreement [Member]

Underwriting Agreement [Member]

Underwriting Agreement [Member]

Equity Incentive Plan 2008 [Member]

Equity Incentive Plan 2008 [Member]

Equity Incentive Plan 2008 [Member]

Maximum [Member]

Consultants [Member]

Consultants [Member]

Overallotment Option Exercised [Member]

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares authorized under shelf registration statement

'

150,000,000

'

150,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100,000,000

'

'

'

'

Issuance of common stock

'

78,282,460

'

78,113,639

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10,350,000

'

1,350,000

'

'

'

Offering price per share

$4.50

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$4.23

'

'

'

'

'

Proceeds from issuance of common stock

$43,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Underwriting discounts and commissions and other offering expenses

3,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of shares to be offered and sold in equity distribution agreement

'

'

'

'

'

'

'

'

'

'

4,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Issuance of common stock from stock options exercises, net, Shares

'

60,522

'

'

'

'

'

'

0

334,412

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Value of shares sold under equity distribution agreement

'

'

'

'

'

'

'

'

'

3,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Issuance of common stock from warrant exercises, net, Shares

'

110,600

200,135

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Warrants exercised

'

111,647

252,129

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

stock option exercised

'

60,522

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common shares authorized to be issued

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,000,000

6,553,986

'

'

'

'

'

1,521,584

Shares issued during the year

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

0

'

Termination date of Equity Incentive Plan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1-Jul-18

'

'

Shares available for issuance

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11,553,986

'

'

'

'

'

'

'

Termination period of Equity Incentive Plan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'10 years

'

'

'

'

'

'

'

'

Restricted stock awards granted

'

'

'

'

'

'

'

'

'

'

'

'

'

0

60,000

'

'

'

'

'

'

'

'

'

'

'

'

Restricted stock surrendered

'

'

'

'

'

'

'

'

'

'

'

2,301

2,543

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Restricted stock awards vested during the period

'

6,250

'

'

'

'

'

'

'

'

'

6,250

6,250

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock option granted with immediate vesting

'

'

'

'

'

'

'

'

'

'

'

2,301

2,543

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Restricted stock awards issued to member of senior management

'

200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total employee stock-based compensation recorded as operating expenses

'

'

'

'

4,000

4,000

129,000

398,000

'

'

'

'

'

'

'

133,000

402,000

'

'

'

'

'

'

'

'

'

'

Unrecognized restricted stock-based compensation expense

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$600,000

'

$600,000

'

'

'

'

'

'

'

'

'

Total unrecognized compensation cost related, weighted average period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'1 year 2 months 27 days

'

'

'

'

'

'

'

'

'

Stockholders_Equity_Summary_of

Stockholders' Equity - Summary of Company's Restricted Stock Award Activity (Detail)	3 Months Ended
	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Beginning balance, Unvested, Number of Shares	573,495
Granted, Number of Shares	'
Vested, Number of Shares	-6,250
Canceled / forfeited, Number of Shares	'
Ending balance, Unvested, Number of Shares	567,245

Stockholders_Equity_Additional1

Stockholders' Equity - Additional Information 1 (Detail) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Class of Stock [Line Items]	'	'
Issuances of common stock from stock option exercises, Shares	60,522	0
Weighted-average remaining contractual term of options exercisable	'8 years 1 month 28 days	'
Weighted-average remaining contractual term of options outstanding	'8 years 8 months 23 days	'
Total unrecognized compensation cost related to unvested stock option grants	$15,800,000	'
Research and development expense [Member]	'	'
Class of Stock [Line Items]	'	'
Total employee stock-based compensation recorded as operating expenses	4,000	4,000
General and administrative expense [Member]	'	'
Class of Stock [Line Items]	'	'
Total employee stock-based compensation recorded as operating expenses	129,000	398,000
2012 Plan [Member]	'	'
Class of Stock [Line Items]	'	'
Issuances of common stock from stock option exercises, Shares	266,801	51,500
Remaining options vest	'36 months	'
Stock option granted, restricted portion	'	45,500
Stock options [Member]	'	'
Class of Stock [Line Items]	'	'
Total employee stock-based compensation recorded as operating expenses	1,405,000	400,000
Total unrecognized compensation cost related, weighted average period	'3 years 3 months 26 days	'
Stock options [Member] | Research and development expense [Member]	'	'
Class of Stock [Line Items]	'	'
Total employee stock-based compensation recorded as operating expenses	248,000	67,000
Stock options [Member] | General and administrative expense [Member]	'	'
Class of Stock [Line Items]	'	'
Total employee stock-based compensation recorded as operating expenses	$1,157,000	333,000
Stock options [Member] | 2012 Plan [Member]	'	'
Class of Stock [Line Items]	'	'
Restricted stock vesting conditions	'A quarter vesting on either the one year anniversary of employment or the one year anniversary of the vesting commencement date	'
Stock option granted, quarterly vesting restricted term	'4 years	'

Stockholders_Equity_Summary_of1

Stockholders' Equity - Summary of Stock Option Activity (Detail) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'	'
Options Outstanding, Beginning balance	5,935,888	'
Granted, Options Outstanding	266,801	'
Canceled, Options Outstanding	-22,125	'
Exercised, Options Outstanding	-60,522	0
Options Outstanding, Ending balance	6,120,042	'
Vested and Exercisable, Options Outstanding	1,942,013	'
Weighted-Average Exercise Price, Options Beginning balance	$4.87	'
Options granted, Weighted-Average Exercise Price	$7.31	'
Options canceled, Weighted-Average Exercise Price	$7.22	'
Options exercised, Weighted-Average Exercise Price	$1.83	'
Weighted-Average Exercise Price, Options Ending balance	$5	'
Vested and Exercisable, Weighted-Average Exercise Price	$2.48	'
Aggregate Intrinsic Value, Options Beginning balance	$20,482,823	'
Options Exercised, Aggregate Intrinsic Value	279,284	'
Aggregate Intrinsic Value, Options Ending balance	23,228,321	'
Vested and Exercisable at June 30, 2014	$11,491,009	'

Stockholders_Equity_Fair_Value

Stockholders' Equity - Fair Value of Employee Stock Options (Detail) (USD $)	1 Months Ended	3 Months Ended
	Nov. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'	'	'
Dividend yield	'	'	'
Volatility	96.90%	78.02%	86.90%
Risk-free interest rate	0.60%	1.56%	1.04%
Expected life of options	'	'6 years	'6 years
Weighted average grant date fair value	'	$4.94	$2.99

Stockholders_Equity_Additional2

Stockholders' Equity - Additional Information 2 (Detail) (USD $)

1 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

Nov. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2012

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2012

Jun. 30, 2014

Dec. 31, 2012

Jun. 30, 2014

Nov. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2012

Dec. 31, 2012

Jun. 30, 2014

Dec. 31, 2012

Jun. 30, 2014

Apr. 30, 2013

Apr. 30, 2013

Apr. 30, 2013

Jun. 30, 2014

Agreement

Warrants [Member]

Warrants [Member]

Minimum [Member]

Minimum [Member]

Maximum [Member]

Maximum [Member]

Warrants [Member]

Warrants [Member]

Warrants [Member]

Warrants [Member]

Warrants [Member]

Warrants [Member]

Warrants [Member]

Warrants [Member]

Amendment March 2013 [Member]

Amendment March 2013 [Member]

Amendment March 2013 [Member]

Amendment April 2013 [Member]

Minimum [Member]

Minimum [Member]

Maximum [Member]

Maximum [Member]

Minimum [Member]

Maximum [Member]

Warrants [Member]

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase shares of common stock for issued warrants

'

8,647

252,129

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cashless exercise for issuance of common stock

'

'

'

'

'

'

'

'

'

'

'

103,000

200,135

'

'

'

'

'

'

'

'

'

Number of warrant exercised through cashless

'

'

'

'

'

'

'

'

'

'

'

103,000

100,000

'

'

'

'

'

'

'

'

'

Warrants exercisable price, per share

'

'

'

'

'

'

'

0.85

'

7.36

7.36

'

'

'

1.7

1

3.24

2.21

'

1

0.85

'

Proceeds from warrant exercise

'

'

'

'

'

'

'

'

'

'

'

$224,000

$100,000

'

'

'

'

'

'

'

'

'

Warrants liability

'

'

'

'

55,000

129,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of warrants exercised during period recorded as derivative liability

'

8,647

35,000

'

'

'

'

'

'

'

'

8,647

35,000

'

'

'

'

'

'

'

'

'

Warrants to purchase common stock

75,000

'

'

650,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

269,657

'

'

'

Warrants reclassified to additional paid in capital

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

767,000

'

'

'

Interest expense

'

'

13,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12,000

Number of agreement with consultants

'

'

'

4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Life of warrants

'5 years

'

'

'

'

'

'2 years

'

'5 years

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated fair value of warrants

'

'

'

'

'

'

'

'

'

'

404,000

'

'

890,000

'

'

'

'

'

'

'

'

Volatility

96.90%

78.02%

86.90%

'

'

'

'

'

'

'

'

'

'

'

79.80%

'

103.80%

'

'

'

'

'

Risk-free interest rate

0.60%

1.56%

1.04%

'

'

'

'

'

'

'

'

'

'

'

0.24%

'

0.63%

'

'

'

'

'

Recognized expenses of warrants

'

$101,000

'

'

'

'

'

'

'

'

'

'

$72,000

'

'

'

'

'

'

'

'

'

Warrants earned, service period

'12 months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted-average remaining contractual term of options exercisable

'

'8 years 1 month 28 days

'

'

'

'

'

'

'

'

'

'2 years 8 months 23 days

'

'

'

'

'

'

'

'

'

'

Preferred stock, shares authorized

'

25,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred stock, shares outstanding

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stockholders_Equity_Summary_of2

Stockholders' Equity - Summary of Warrant Activity (Detail) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Options Outstanding, Beginning balance	5,935,888	'
Granted, Options Outstanding	266,801	'
Exercised, Options Outstanding	-60,522	0
Options Outstanding, Ending balance	6,120,042	'
Weighted-Average Exercise Price, Options Beginning balance	$4.87	'
Granted, Weighted-Average Exercise Price	$7.31	'
Exercised, Weighted-Average Exercise Price	$1.83	'
Weighted-Average Exercise Price, Options Ending balance	$5	'
Warrants [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Options Outstanding, Beginning balance	1,194,756	'
Granted, Options Outstanding	'	'
Exercised, Options Outstanding	-111,647	'
Options Outstanding, Ending balance	1,083,109	'
Weighted-Average Exercise Price, Options Beginning balance	$1.79	'
Granted, Weighted-Average Exercise Price	'	'
Exercised, Weighted-Average Exercise Price	$2.08	'
Weighted-Average Exercise Price, Options Ending balance	$1.76	'

Stockholders_Equity_Common_Sto

Stockholders' Equity - Common Stock Reserved for Future Issuance (Detail)	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Common stock reserved for future issuance	11,232,069
Warrants [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Common stock reserved for future issuance	1,083,109
Stock options [Member] | Equity Incentive Plan 2008 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Common stock reserved for future issuance	672,192
Stock options [Member] | Equity Incentive Plan 2012 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Common stock reserved for future issuance	9,476,768

Commitments_and_Contingencies_1

Commitments and Contingencies - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended
	Dec. 05, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 05, 2013
	sqft			sqft
Commitments And Contingencies Disclosure [Abstract]	'	'	'	'
Rent expense	'	$235,000	$105,000	'
Base rent under the lease	38,800	38,800	'	'
Base rent escalators	'	3.00%	'	3.00%
Lease term with option to extend	'	'48 months	'	'
Lease expiration date	1-Aug-16	'	'	'
Rent expense per month	$38,934	'	'	'
Area of leased office space	'	'	'	15,539
Additional office space	14,500	'	'	'
Increased office space size	'	'	'	15,268
Total office space under lease agreement	30,807	'	'	'
Expansion premises commencement date	'	1-Sep-14	'	'

Commitments_and_Contingencies_2

Commitments and Contingencies - Future Minimum Rental Payments Required under Operating Leases that have Initial or Remaining Non-Cancelable Lease Terms in Excess of One Year (Detail) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Commitments And Contingencies Disclosure [Abstract]	'
Fiscal year ended March 31, 2015	$567
Fiscal year ended March 31, 2016	979
Fiscal year ended March 31, 2017	984
Fiscal year ended March 31, 2018	1,001
Fiscal year ended March 31, 2019	1,031
Thereafter	2,527
Total	$7,089

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (USD $)	3 Months Ended		12 Months Ended	1 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Aug. 06, 2014
		Equity Distribution Agreement [Member]	Equity Distribution Agreement [Member]	Subsequent Event [Member]
				Equity Distribution Agreement [Member]
Subsequent Event [Line Items]	'	'	'	'
Shares sold under equity distribution agreement	60,522	0	334,412	292,865
Proceeds to company from offering	'	'	'	$2,391,700