Organovo (ONVO) 10-Q 6 Feb 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2014	Jan. 31, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Trading Symbol	ONVO
Entity Registrant Name	ORGANOVO HOLDINGS, INC.
Entity Central Index Key	1497253
Current Fiscal Year End Date	-28
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		80,458,648

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Current Assets
Cash and cash equivalents	$50,027	$48,167
Inventory	69	63
Prepaid expenses and other current assets	372	931
Total current assets	50,468	49,161
Fixed assets, net	1,440	857
Restricted cash	79	79
Other assets, net	83	89
Total assets	52,070	50,186
Current Liabilities
Accounts payable	495	326
Accrued expenses	2,028	822
Deferred rent	646	345
Deferred revenue	241	13
Capital lease obligation	8	10
Warrant liabilities	298	377
Total current liabilities	3,716	1,893
Deferred revenue, net of current portion	44	4
Capital lease obligation, net of current portion		5
Total liabilities	3,760	1,902
Commitments and Contingencies (Note 4)
Stockholders’ Equity
Common stock, $0.001 par value; 150,000,000 shares authorized, 80,458,406 and 78,113,639 shares issued and outstanding at December 31, 2014 and March 31, 2014, respectively	80	78
Additional paid-in capital	162,727	140,419
Accumulated deficit	-114,497	-92,213
Total stockholders’ equity	48,310	48,284
Total Liabilities and Stockholders’ Equity	$52,070	$50,186

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 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	80,458,406	78,113,639
Common stock, shares outstanding	80,458,406	78,113,639

Unaudited_Condensed_Consolidat

Unaudited Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Revenues
Product and service	$139		$139
Collaborations	7	97	121	214
Grants	9	38	44	50
Total Revenues	155	135	304	264
Selling, general, and administrative expenses	3,878	2,379	13,350	8,740
Research and development expenses	3,238	2,382	9,281	5,487
Loss from Operations	-6,961	-4,626	-22,327	-13,963
Other Income (Expense)
Change in fair value of warrant liabilities	-40	-586	24	-5,397
Loss on disposals of fixed assets			-3	-4
Interest expense				-13
Interest income	8	4	22	11
Total Other Income (Expense)	-32	-582	43	-5,403
Net Loss	($6,993)	($5,208)	($22,284)	($19,366)
Net loss per common share—basic and diluted	($0.09)	($0.07)	($0.28)	($0.27)
Weighted average shares used in computing net loss per common share—basic and diluted	80,491,120	77,235,976	79,225,692	71,606,724

Unaudited_Condensed_Consolidat1

Unaudited Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Cash Flows From Operating Activities
Net loss	($22,284)	($19,366)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on disposal of fixed assets	3	4
Depreciation and amortization	334	288
Change in fair value of warrant liabilities	-24	5,397
Expense associated with warrant modification		12
Stock-based compensation	5,215	2,840
Amortization of warrants issued for services	556	182
Increase (decrease) in cash resulting from changes in:
Grants receivable		94
Inventory	-6	6
Prepaid expenses and other assets	318	-25
Accounts payable	169	-330
Accrued expenses	1,206	779
Deferred rent	254
Deferred revenue	268	-42
Net cash used in operating activities	-13,991	-10,161
Cash Flows From Investing Activities
Deposits released from restriction		9
Purchases of fixed assets	-867	-156
Net cash used in investing activities	-867	-147
Cash Flows From Financing Activities
Proceeds from issuance of common stock and exercise of warrants, net	16,512	44,310
Proceeds from exercise of stock options	213	195
Principal payments on capital lease obligations	-7	-7
Net cash provided by financing activities	16,718	44,498
Net Increase in Cash and Cash Equivalents	1,860	34,190
Cash and Cash Equivalents at Beginning of Period	48,167	15,628
Cash and Cash Equivalents at End of Period	$50,027	$49,818

Unaudited_Condensed_Consolidat2

Unaudited Condensed Consolidated Statements of Cash Flows (Parenthetical) (USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Statement Of Cash Flows [Abstract]
Warrant liability reduced	$55	$10,522
Warrant reclassified as equity instruments	0	767
Issued warrants to purchase shares of common stock for consulting services shares		75,000
Issued warrants to purchase shares of common stock for consulting services		404
Leasehold improvements	$47

Description_of_Business_and_Su

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Note 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 subsidiaries. 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.
	Since its inception, the Company has devoted its efforts primarily to developing a platform technology and 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. In November 2014, the Company announced the full commercial release of its first product, the exVive3D™ Human Liver Tissue for use in toxicology and other preclinical drug testing. As of December 31, 2014, 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 and implement its business plan.
	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 Company’s 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 December 31, 2014, the Company had an accumulated deficit of approximately $114.5 million. The Company also had negative cash flows from operations of approximately $14.0 million during the nine months ended December 31, 2014.
	Through December 31, 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, product sales, collaborative research agreements and research service agreements. Based on its current operating plan and available cash resources, the Company believes it has sufficient resources to fund its business for at least the next twelve months.
	The Company will need additional capital to further fund the 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 revenue derived from grants, product sales, collaborative research agreements and research services agreements and through the issuance of additional equity or debt securities. Depending on market conditions, 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.
	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, 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 December 31, 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 $69,000 and $63,000 in raw materials as of December 31, 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 December 31, 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 seven 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 December 31, 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 may have a significant impact on the computed fair value of the warrant liability.
	The estimated fair values of the liabilities measured on a recurring basis are as follows:
			Fair Value Measurements at December 31 and March 31, 2014 (in thousands):
			Balance at December 31, 2014		Quoted		Significant		Significant
					Prices in		Other		Other
					Active		Observable		Unobservable
					Markets		Inputs		Inputs
					(Level 1)		(Level 2)		(Level 3)
	Warrant liability		$	298		—		—	$	298
			Balance at		Quoted		Significant		Significant
			March 31, 2014		Prices in		Other		Other
					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 nine months ended December 31, 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		(24	)
	Warrant liability removal due to settlements		(55	)
	Warrant liability reclassified to equity		—
Balance at December 31, 2014	$	298
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 research service agreements, product sales, collaborative research agreements, and grants from the National Institute of Health (“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 December 31, 2014 and March 31, 2014, the Company had approximately $285,000 and $17,000, respectively, in deferred revenue related to its grants, collaborative research programs and research service 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 from Research Service Agreements
For research service agreements that contain only a single or primary deliverable, the Company defers any up-front fees collected from customers, and recognizes revenue for the delivered element only when it determines there are no uncertainties regarding customer acceptance.
Revenue Arrangements with Multiple Deliverables
The Company periodically 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.
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 $0 and $12,000 for the three and nine months, respectively, ended December 31, 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 $9,000 and $44,000 for the three and nine months, respectively, ended December 31, 2014.
During September of 2014, the NIH awarded the Company a research grant totaling approximately $222,000. The grant provides for fixed payments based on the achievement of certain milestones. As such, revenue will be recognized upon completion of those milestones. Grant activities did not commence until the third quarter of fiscal 2015, and the first milestone had not yet been met as of December 31, 2014. Therefore no revenue has been recognized under this grant as of December 31, 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 and nine months ended December 31, 2014 and 2013, respectively, 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 and nine months ended December 31, 2014 and 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 8.2 million for the three and nine months ended December 31, 2014, respectively, and 6.4 million for the three and nine months ended December 31, 2013, respectively.
Reclassifications
Certain reclassifications were made to the Condensed Consolidated Balance Sheet as of March 31, 2014 and the Unaudited Condensed Consolidated Statement of Operations for the three and nine months ended December 31, 2013 in order to conform to the presentation of the Condensed Consolidated Balance Sheet as of December 31, 2014 and the Condensed Consolidated Statement of Operations for the three and nine months ended December 31, 2014. The reclassifications did not have any effect on previously reported net loss or financial position.

Derivative_Liability

Derivative Liability	9 Months Ended
	Dec. 31, 2014
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Liability	Note 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 $0.3 million and $0.4 million as of December 31, 2014 and March 31, 2014, respectively. The changes in fair value of the derivative liabilities were increases of approximately $40,000 and $0.6 million for the three months ended December 31, 2014 and 2013, respectively, and were approximately a $24,000 decrease and a $5.4 million increase for the nine months ended December 31, 2014 and 2013, respectively, and are included in other income (expense) in the statements of operations.
	During the three months ended December 31, 2014 and 2013, 0 and 60,176 warrants, respectively, that were classified as derivative liabilities were exercised. During the nine months ended December 31, 2014 and 2013, 8,647 and 1,878,104 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 nine months ended December 31, 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 end of each reporting period using a Monte Carlo valuation model with the following assumptions:
		31-Dec-14			31-Mar-14			31-Dec-13
	Closing price per share of common stock	$	7.25		$	7.64		$	11.07
	Exercise price per share	$	1		$	1		$	1
	Expected volatility		76.5	%		76.5	%		82.3	%
	Risk-free interest rate		0.67	%		0.9	%		0.78	%
	Dividend yield		—			—			—
	Remaining expected term of underlying securities		2.21			2.96			3.2
	(years)

Stockholders_Equity

Stockholders' Equity	9 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Stockholders' Equity	Note 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. During the three and nine months ended December 31, 2014, the Company issued 0 and 2,197,768 shares of common stock in at the market offerings under the distribution agreement with net proceeds of $0 and $16.1 million, respectively.
	In December 2014, the Company entered into an equity offering sales agreement with another investment banking firm. Under the terms of the sales agreement, the Company may offer and sell 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. As of December 31, 2014, the Company has not sold any shares of common stock in at the market offerings under the sales agreement. The Company intends to use the net proceeds raised through any “at-the-market” sales for general corporate purposes, including research and development, the commercialization of the Company’s products, general administrative expenses, and working capital and capital expenditures.
	The Company will limit future sales under the 2013 distribution agreement and the 2014 sales agreement to ensure that it does not exceed the maximum amount available for sale under its effective shelf registration statement previously filed with the SEC. Based on its use of the shelf registration statement through December 31, 2014, the Company cannot sell more than an aggregate of $33,210,335 in shares of common stock under the 2013 distribution agreement and the 2014 sales agreement.
	In addition, during the three months ended December 31, 2014 and 2013, the Company issued 100,000 and 533,533 shares of common stock upon exercise of 100,000 and 600,306 warrants, respectively. During the nine months ended December 31, 2014 and 2013, the Company issued 210,600 and 2,404,519 shares of common stock upon exercise of 211,647 and 2,878,863 warrants, respectively.
	Finally, during the three and nine months ended December 31, 2014, the Company issued 9,961 and 98,707 shares of common stock upon exercise of 10,612 and 99,358 stock options, respectively. During the three and nine months ended December 31, 2013, the Company issued 76,501 and 83,801 shares of common stock upon exercise of 76,501 and 83,801 stock options, respectively.
	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 August 2013 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 nine months ended December 31, 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 nine months ended December 31, 2014.
	During the three months ended December 31, 2014 and 2013, there were 3,703 and 3,703 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 8,750 and 8,750 restricted stock units, respectively. During the nine months ended December 31, 2014 and 2013, there were 109,808 and 164,243 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 205,000 and 305,000 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.
	On August 6, 2012, 200,000 restricted stock awards were issued to a member of senior management, the vesting of which was performance based with achievement to be measured at December 31, 2014 or earlier if the metric was achieved. As of December 31, 2014, the Company had determined that three of the four target metrics had been achieved with the fourth performance metric criteria not met resulting in 150,000 shares of restricted stock vested and the remaining 50,000 restricted stock awards surrendered back to the Company unvested. The Company recognized the related stock-based compensation expense over the requisite service period ending on December 31, 2014.
	A summary of the Company’s restricted stock award activity from March 31, 2014 through December 31, 2014 is as follows:
		Number of
		Shares
	Unvested at March 31, 2014		573,495
	Granted		—
	Vested		(205,000	)
	Canceled / forfeited		(52,500	)
	Unvested at December 31, 2014		315,995
	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 $48,000 and $148,000 for the three months ended December 31, 2014 and 2013, respectively, and approximately $315,000 and $681,000 for the nine months ended December 31, 2014 and 2013, respectively. Stock-based compensation expense included in research and development was $4,000 and $4,000 for the three months ended December 31, 2014 and 2013, respectively, and $12,000 and $12,000 for the nine months ended December 31, 2014 and 2013, respectively. Stock-based compensation expense included in general and administrative expense was $44,000 and $144,000 for the three months ended December 31, 2014 and 2013, respectively, and $303,000 and $669,000 for the nine months ended December 31, 2014 and 2013, respectively.
	As of December 31, 2014, total unrecognized restricted stock-based compensation expense was approximately $328,000, which will be recognized over a weighted average period of 0.83 years.
	Stock options
	Under the 2012 Plan, 310,203 and 91,203 stock options were issued during the three months ended December 31, 2014 and 2013, respectively, and 867,058 and 665,743 stock options were issued during the nine months ended December 31, 2014 and 2013, respectively, at various exercise prices. The stock options generally vest on the one year anniversary of the grant date, quarterly over a three year period, or 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.
	A summary of the Company’s stock option activity for the nine months ended December 31, 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		867,058		$	7.23
	Options canceled		(35,443	)	$	7.25
	Options exercised		(99,358	)	$	2.18		$	462,948
	Outstanding at December 31, 2014		6,668,145		$	5.21		$	18,539,044
	Vested and Exercisable at December 31, 2014		2,559,635		$	3.01		$	11,124,896
	The weighted-average remaining contractual term of options exercisable and outstanding at December 31, 2014 was approximately 7.82 years and 8.36 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			Nine Months Ended			Nine Months Ended
		31-Dec-14			31-Dec-13			31-Dec-14			31-Dec-13
	Dividend yield		—			—			—			—
	Volatility		77	%		82.3	%		77.1	%		83.9	%
	Risk-free interest rate		1.67	%		0.78	%		1.64	%		0.82	%
	Expected life of options	6.00 years			6.00 years			6.00 years			6.00 years
	Weighted average grant date fair value	$	4.49		$	5.54		$	4.86		$	4
	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 $1,533,000 and $605,000 for the three months ended December 31, 2014 and 2013, respectively, and $4,900,000 and $2,160,000 for the nine months ended December 31, 2014 and 2013, respectively. Expense included in research and development was $327,000 and $129,000 for the three months ended December 31, 2014 and 2013, respectively, and $856,000 and $262,000 for the nine months ended December 31, 2014 and 2013, respectively. Expense included in general and administrative was $1,206,000 and $476,000 for the three months ended December 31, 2014 and 2013, respectively and $4,044,000 and $1,898,000 for the nine months ended December 31, 2014 and 2013, respectively.
	The total unrecognized compensation cost related to unvested stock option grants as of December 31, 2014 was approximately $15,100,000 and the weighted average period over which these grants are expected to vest is 2.84 years.
	Warrants
	During the three months ended December 31, 2014 and 2013, 0 and 450,176 warrants, respectively, were exercised through a cashless exercise provision for issuance of 0 and 383,403 shares of common stock, respectively. During the nine months ended December 31, 2014 and 2013, 8,647 and 2,485,233 warrants, respectively, were exercised through a cashless exercise provision for issuance of 7,600 and 2,010,889 shares of common stock, respectively. During the three and nine months ended December 31, 2014, 100,000 and 203,000 warrants, respectively, were exercised at prices ranging from $1.00 to $2.21 for total proceeds of $221,000 and $445,000, respectively and during the three and nine months ended December 31, 2013, 150,130 and 393,630 warrants, respectively, were exercised at prices ranging from $1.00 and $3.24 for total proceeds of $284,696 and $935,876.
	Of the warrants exercised during the three months ended December 31, 2014 and 2013, 0 and 60,176, respectively, were derivative liabilities and were valued at the settlement date. Of the warrants exercised during the nine months ended December 31, 2014 and 2013, 8,647 and 1,878,104, respectively, were derivative liabilities and were valued at the settlement date. For the three months ended December 31, 2014 and 2013, and the nine months ended December 31, 2014 and 2013, respectively, approximately $0, $375,000, $55,000, and $10,522,000, 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 nine months ended December 31, 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 nine months ended December 31, 2013 related to these services.
	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 has been 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 $39,000 and $241,000 during the three and nine months ended December 31, 2014, respectively, related to these services.
	Additionally, during September 2014, the Company issued 50,000 warrants to a consultant in recognition of services previously provided. These warrants were classified as equity instruments because they do not contain any anti-dilution provisions. The Company recognized approximately $0 and $273,000 during the three and nine months ended December 31, 2014, respectively, related to these services.
	During November 2014 the Company entered into an agreement with a consultant for services. In connection with the agreement, the Company issued 145,000 warrants to purchase common stock, at a price of $6.84, with a life of five years, to be earned over a seventeen month service period ending on March 31, 2016. The final number of vested warrant shares will be determined, at the discretion of management, based on management’s judgment of the satisfaction of specific performance metrics prior to the earliest to occur of March 31, 2016 or the termination of the consulting arrangement with the Company. The initial fair value of the warrants was estimated to be approximately $309,000, which is being revalued and 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 76.50% and a risk-free interest rate factor of 1.65%, was used to determine the value. The Company recognized approximately $35,000 during the three and nine months ended December 31, 2014, respectively, related to these services.
	The following table summarizes warrant activity for the nine months ended December 31, 2014:
		Warrants			Weighted-
					Average
					Exercise Price
	Balance at March 31, 2014		1,194,756		$	1.79
	Granted		195,000		$	7.04
	Exercised		(211,647	)	$	2.14
Balance at December 31, 2014		1,178,109		$	2.59
The warrants outstanding at December 31, 2014 are exercisable at prices between $0.85 and $7.62 per share, and have a weighted average remaining term of approximately 2.63 years.
Common stock reserved for future issuance
Common stock reserved for future issuance consisted of the following at December 31, 2014:
Common stock warrants outstanding		1,178,109
Common stock options outstanding under the 2008 Plan		672,192
Common stock options outstanding and reserved under the 2012		9,403,590
Plan
Total		11,253,891
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	9 Months Ended
	Dec. 31, 2014
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 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. In addition, the lease provides for certain improvements made for the Company’s benefit to be funded by the landlord. Such costs, totaling approximately $47,000 to date, have been capitalized as fixed assets and included in deferred rent.
	Rent expense was approximately $235,000 and $112,000 for the three months ended December 31, 2014 and 2013, respectively, and $705,000 and $322,000 for the nine months ended December 31, 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 Expansion Premises Commencement Date was 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 Expansion Premises contains 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 December 31, 2014, are as follows (in thousands):
	Fiscal year ended March 31, 2015	$	242
	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	$	6,764
	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. 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. During the period presented, the Company has not recorded any accrual for loss contingencies associated with such claims or legal proceedings; determined that an unfavorable outcome is probable or reasonably possible; or determined that the amount or range of any possible loss is reasonably estimable. However, the outcome of legal proceedings and claims brought against the Company is subject to significant uncertainty. Therefore, although management considers the likelihood of such an outcome to be remote, if one or more of these legal matters were resolved against the Company in a reporting period, the Company’s consolidated financial statements for that reporting period could be materially adversely affected.
	Spencer Trask Matter. In June 2013, the Company filed a declaratory relief action against Spencer Trask Ventures (“STV”) in the Supreme Court of New York (case #652305/2013) following claims by STV that it was entitled to additional compensation arising from a warrant tender offer the Company completed in December 2012. The Company is seeking a declaration that a Warrant Solicitation Agency Agreement (the “WSAA”) between the parties is a valid and enforceable agreement; the Company believes that under the terms of this agreement and the Placement Agent Agreement (the “PAA”) it entered into with STV in connection with the private placement financings the Company completed in February and March 2012, STV is not entitled to the additional compensation it is seeking.
	Also in June, 2013, STV initiated an arbitration in which it is alleging (1) breach of contract, and (2) breach of confidentiality obligations under the terms of the PAA. STV is seeking compensation (including a cash fee and warrants to purchase common stock) as a result of the Company’s warrant tender offer in December 2012 and its warrant redemption in 2013, and damages for breach of confidentiality provisions in relation to the contacting of warrant holders who participated in the warrant tender offer. The Company believes there was no breach of confidentiality, as 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.
	In January 2014, the Supreme Court of New York stayed the New York litigation, finding that the arbitrator should determine in the first instance which disputes between the Company and STV should proceed in the Arbitration and which disputes between the Company and STV 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 has been scheduled for July, 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.

Concentrations

Concentrations	9 Months Ended
	Dec. 31, 2014
Risks And Uncertainties [Abstract]
Concentrations	Note 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.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	9 Months Ended
	Dec. 31, 2014
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 6. Recent Accounting Pronouncements
	In May 2014, the Financial Accountings Standards Board issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, or ASU 2014-09, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for us on April 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting.
	In June 2014, the FASB issued 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	9 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	Note 7. Subsequent Events
	Open

Description_of_Business_and_Su1

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 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 subsidiaries. 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.
	Since its inception, the Company has devoted its efforts primarily to developing a platform technology and 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. In November 2014, the Company announced the full commercial release of its first product, the exVive3D™ Human Liver Tissue for use in toxicology and other preclinical drug testing. As of December 31, 2014, 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 and implement its business plan.
	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 Company’s 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.
Liquidity	Liquidity
	As of December 31, 2014, the Company had an accumulated deficit of approximately $114.5 million. The Company also had negative cash flows from operations of approximately $14.0 million during the nine months ended December 31, 2014.
	Through December 31, 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, product sales, collaborative research agreements and research service agreements. Based on its current operating plan and available cash resources, the Company believes it has sufficient resources to fund its business for at least the next twelve months.
	The Company will need additional capital to further fund the 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 revenue derived from grants, product sales, collaborative research agreements and research services agreements and through the issuance of additional equity or debt securities. Depending on market conditions, 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.
	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, 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 December 31, 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 $69,000 and $63,000 in raw materials as of December 31, 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 December 31, 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 seven 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 December 31, 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 may have a significant impact on the computed fair value of the warrant liability.
	The estimated fair values of the liabilities measured on a recurring basis are as follows:
			Fair Value Measurements at December 31 and March 31, 2014 (in thousands):
			Balance at December 31, 2014		Quoted		Significant		Significant
					Prices in		Other		Other
					Active		Observable		Unobservable
					Markets		Inputs		Inputs
					(Level 1)		(Level 2)		(Level 3)
	Warrant liability		$	298		—		—	$	298
			Balance at		Quoted		Significant		Significant
			March 31, 2014		Prices in		Other		Other
					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 nine months ended December 31, 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		(24	)
	Warrant liability removal due to settlements		(55	)
	Warrant liability reclassified to equity		—
	Balance at December 31, 2014	$	298
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 research service agreements, product sales, collaborative research agreements, and grants from the National Institute of Health (“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 December 31, 2014 and March 31, 2014, the Company had approximately $285,000 and $17,000, respectively, in deferred revenue related to its grants, collaborative research programs and research service agreements.
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 from Research Service Agreements	Revenue from Research Service Agreements
	For research service agreements that contain only a single or primary deliverable, the Company defers any up-front fees collected from customers, and recognizes revenue for the delivered element only when it determines there are no uncertainties regarding customer acceptance.
Revenue Arrangements with Multiple Deliverables	Revenue Arrangements with Multiple Deliverables
	The Company periodically 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.
	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 $0 and $12,000 for the three and nine months, respectively, ended December 31, 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 $9,000 and $44,000 for the three and nine months, respectively, ended December 31, 2014.
	During September of 2014, the NIH awarded the Company a research grant totaling approximately $222,000. The grant provides for fixed payments based on the achievement of certain milestones. As such, revenue will be recognized upon completion of those milestones. Grant activities did not commence until the third quarter of fiscal 2015, and the first milestone had not yet been met as of December 31, 2014. Therefore no revenue has been recognized under this grant as of December 31, 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 and nine months ended December 31, 2014 and 2013, respectively, 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 and nine months ended December 31, 2014 and 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 8.2 million for the three and nine months ended December 31, 2014, respectively, and 6.4 million for the three and nine months ended December 31, 2013, respectively.
Reclassifications	Reclassifications
	Certain reclassifications were made to the Condensed Consolidated Balance Sheet as of March 31, 2014 and the Unaudited Condensed Consolidated Statement of Operations for the three and nine months ended December 31, 2013 in order to conform to the presentation of the Condensed Consolidated Balance Sheet as of December 31, 2014 and the Condensed Consolidated Statement of Operations for the three and nine months ended December 31, 2014. The reclassifications did not have any effect on previously reported net loss or financial position.

Description_of_Business_and_Su2

Description of Business and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Dec. 31, 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 December 31 and March 31, 2014 (in thousands):
			Balance at December 31, 2014		Quoted		Significant		Significant
					Prices in		Other		Other
					Active		Observable		Unobservable
					Markets		Inputs		Inputs
					(Level 1)		(Level 2)		(Level 3)
	Warrant liability		$	298		—		—	$	298
			Balance at		Quoted		Significant		Significant
			March 31, 2014		Prices in		Other		Other
					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 nine months ended December 31, 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		(24	)
	Warrant liability removal due to settlements		(55	)
	Warrant liability reclassified to equity		—
	Balance at December 31, 2014	$	298

Derivative_Liability_Tables

Derivative Liability (Tables)	9 Months Ended
	Dec. 31, 2014
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Assumptions Used to Value Derivative Liabilities at End of Each Reporting Period	The derivative liabilities were valued at the end of each reporting period using a Monte Carlo valuation model with the following assumptions:
		31-Dec-14			31-Mar-14			31-Dec-13
	Closing price per share of common stock	$	7.25		$	7.64		$	11.07
	Exercise price per share	$	1		$	1		$	1
	Expected volatility		76.5	%		76.5	%		82.3	%
	Risk-free interest rate		0.67	%		0.9	%		0.78	%
	Dividend yield		—			—			—
	Remaining expected term of underlying securities		2.21			2.96			3.2
	(years)

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	9 Months Ended
	Dec. 31, 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 December 31, 2014 is as follows:
		Number of
		Shares
	Unvested at March 31, 2014		573,495
	Granted		—
	Vested		(205,000	)
	Canceled / forfeited		(52,500	)
	Unvested at December 31, 2014		315,995
Summary of Stock Option Activity	A summary of the Company’s stock option activity for the nine months ended December 31, 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		867,058		$	7.23
	Options canceled		(35,443	)	$	7.25
	Options exercised		(99,358	)	$	2.18		$	462,948
	Outstanding at December 31, 2014		6,668,145		$	5.21		$	18,539,044
	Vested and Exercisable at December 31, 2014		2,559,635		$	3.01		$	11,124,896
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			Nine Months Ended			Nine Months Ended
		31-Dec-14			31-Dec-13			31-Dec-14			31-Dec-13
	Dividend yield		—			—			—			—
	Volatility		77	%		82.3	%		77.1	%		83.9	%
	Risk-free interest rate		1.67	%		0.78	%		1.64	%		0.82	%
	Expected life of options	6.00 years			6.00 years			6.00 years			6.00 years
	Weighted average grant date fair value	$	4.49		$	5.54		$	4.86		$	4
Summary of Warrant Activity	The following table summarizes warrant activity for the nine months ended December 31, 2014:
		Warrants			Weighted-
					Average
					Exercise Price
	Balance at March 31, 2014		1,194,756		$	1.79
	Granted		195,000		$	7.04
	Exercised		(211,647	)	$	2.14
	Balance at December 31, 2014		1,178,109		$	2.59
Common Stock Reserved for Future Issuance	Common stock reserved for future issuance consisted of the following at December 31, 2014:
	Common stock warrants outstanding		1,178,109
	Common stock options outstanding under the 2008 Plan		672,192
	Common stock options outstanding and reserved under the 2012		9,403,590
	Plan
	Total		11,253,891

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	9 Months Ended
	Dec. 31, 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 December 31, 2014, are as follows (in thousands):
	Fiscal year ended March 31, 2015	$	242
	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	$	6,764

Description_of_Business_and_Su3

Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended		1 Months Ended		12 Months Ended
Share data in Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Aug. 31, 2013	Sep. 30, 2014	Dec. 31, 2012	Mar. 31, 2014
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Accumulated deficit	($114,497,000)		($114,497,000)					($92,213,000)
Cash flow from operations			13,991,000	10,161,000
Restricted cash	79,000		79,000					79,000
Inventory	69,000		69,000					63,000
Obsolete inventory reserve	31,000		31,000					31,000
Estimated useful life of the fixed assets			The estimated useful lives of the fixed assets range between two and seven years.
Impairment of long-lived assets			0
Revenue recognized under grants	9,000	38,000	44,000	50,000
Dilutive effect	0	0	0	0
Common stock equivalents excluded from computing diluted net loss per share	8.2	6.4	8.2	6.4
Private, Not-for-Profit Organization [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Revenue recognized under grants	9,000		44,000		252,000
Nih Research Grant [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Revenue recognized under grants		0	0	12,000		222,000	290,000
Research and Development Services [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Deferred revenue related to collaborative research programs and research service agreements	$285,000		$285,000					$17,000
Maximum [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Maturity of highly liquid investment			90 days
Useful life of fixed assets, range			7 years
Minimum [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Useful life of fixed assets, range			2 years

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 $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Warrant liability	$298	$377
Warrants [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Warrant liability	298	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	0	0
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	0	0
Warrants [Member] | Significant Other Unobservable Inputs (Level 3) [Member]
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Warrant liability	298	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	$298	$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		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Warrant Derivative Liability, Beginning balance			$377
Adjustments to estimated fair value	40	586	-24	5,397
Warrant liability reclassified to equity			0	-767
Warrant Derivative Liability, Ending balance	298		298
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
Issuances			0
Adjustments to estimated fair value			-24
Warrant liability removal due to settlements			-55
Warrant liability reclassified to equity			0
Warrant Derivative Liability, Ending balance	$298		$298

Derivative_Liability_Additiona

Derivative Liability - Additional Information (Detail) (USD $)	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2014
Derivative [Line Items]
Warrants maturity term	5 years	5 years					5 years	5 years
Change in fair value of warrant liabilities			($40,000)	($586,000)	$24,000	($5,397,000)
Exercised derivative liabilities			0	60,176	8,647	1,878,104
Reclassification of warrant				269,657		269,657
Warrants [Member]
Derivative [Line Items]
Estimated fair value of the outstanding warrant liabilities			$300,000		$300,000				$400,000

Derivative_Liability_Assumptio

Derivative Liability - Assumptions Used to Value Derivative Liabilities at Closing Dates of Private Placements (Detail) (Warrant Derivative Liability [Member], USD $)	9 Months Ended		12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
Warrant Derivative Liability [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Closing price per share of common stock	$7.25	$11.07	$7.64
Exercise price per share	$1	$1	$1
Expected volatility	76.50%	82.30%	76.50%
Risk-free interest rate	0.67%	0.78%	0.90%
Dividend yield	0.00%	0.00%	0.00%
Remaining expected term of underlying securities (years)	2 years 2 months 16 days	3 years 2 months 12 days	2 years 11 months 16 days

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended	1 Months Ended
	Aug. 02, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Nov. 30, 2013	Jul. 17, 2013	31-May-08	Aug. 31, 2013	Jan. 31, 2012
Class Of Stock [Line Items]
Shares authorized under shelf registration statement		150,000,000		150,000,000		150,000,000
Issuance of common stock		80,458,406		80,458,406		78,113,639
Offering price per share	$4.50
Proceeds from issuance of common stock	$43,400,000
Underwriting discounts and commissions and other offering expenses	3,200,000
Issuance of common stock from stock options exercises, net, Shares		9,961	76,501	98,707	83,801
Number of common shares eligible to sell		11,253,891		11,253,891
Issuance of common stock from warrant exercises, net, Shares		100,000	533,533	210,600	2,404,519
Warrants exercised		100,000	600,306	211,647	2,878,863
Stock option exercised		10,612	76,501	99,358	83,801
Restricted stock awards granted				0
Restricted stock awards vested during the period				205,000
Stock option granted with immediate vesting		3,703	3,703	109,808	164,243
Restricted stock awards issued to member of senior management				200,000
Research and development expense [Member]
Class Of Stock [Line Items]
Total employee stock-based compensation recorded as operating expenses		4,000	4,000	12,000	12,000
General and administrative expense [Member]
Class Of Stock [Line Items]
Total employee stock-based compensation recorded as operating expenses		44,000	144,000	303,000	669,000
Senior Management [Member]
Class Of Stock [Line Items]
Restricted stock surrendered				50,000
Restricted stock awards vested during the period				150,000
Restricted stock units (RSUs) [Member]
Class Of Stock [Line Items]
Restricted stock surrendered		3,703	3,703	109,808	164,243
Restricted stock awards vested during the period		8,750	8,750	205,000	305,000
Restricted stock units (RSUs) [Member] | Consultants [Member]
Class Of Stock [Line Items]
Restricted stock awards granted				0	60,000
Restricted stock [Member]
Class Of Stock [Line Items]
Total employee stock-based compensation recorded as operating expenses		48,000	148,000	315,000	681,000
Unrecognized restricted stock-based compensation expense		328,000		328,000
Total unrecognized compensation cost related, weighted average period				9 months 29 days
Equity Distribution Agreement [Member]
Class Of Stock [Line Items]
Issuance of common stock from stock options exercises, net, Shares		0		2,197,768		334,412
Value of shares sold under equity distribution agreement		0		16,100,000		$3,500,000
Maximum [Member] | Equity Distribution Agreement [Member]
Class Of Stock [Line Items]
Number of shares to be offered and sold in equity distribution agreement							4,000,000
Number of common shares eligible to sell		33,210,335		33,210,335
Underwriting Agreement [Member]
Class Of Stock [Line Items]
Shares authorized under shelf registration statement								100,000,000
Issuance of common stock	10,350,000
Offering price per share	$4.23
Underwriting Agreement [Member] | Overallotment Option Exercised [Member]
Class Of Stock [Line Items]
Issuance of common stock	1,350,000
Equity Incentive Plan 2008 [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued									1,521,584
Shares issued during the year				0
Termination date of Equity Incentive Plan				1-Jul-18
Equity Incentive Plan 2012 [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued										5,000,000	6,553,986
Shares available for issuance										11,553,986
Termination period of Equity Incentive Plan				10 years

Stockholders_Equity_Summary_of

Stockholders' Equity - Summary of Company's Restricted Stock Award Activity (Detail)	9 Months Ended
	Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Beginning balance, Unvested, Number of Shares	573,495
Granted, Number of Shares	0
Vested, Number of Shares	-205,000
Canceled / forfeited, Number of Shares	-52,500
Ending balance, Unvested, Number of Shares	315,995

Stockholders_Equity_Additional1

Stockholders' Equity - Additional Information 1 (Detail) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Class Of Stock [Line Items]
Issuances of common stock from stock option exercises, Shares	10,612	76,501	99,358	83,801
Weighted-average remaining contractual term of options exercisable			7 years 9 months 26 days
Weighted-average remaining contractual term of options outstanding			8 years 4 months 10 days
Total unrecognized compensation cost related to unvested stock option grants					$15,100,000
Research and development expense [Member]
Class Of Stock [Line Items]
Total employee stock-based compensation recorded as operating expenses	4,000	4,000	12,000	12,000
General and administrative expense [Member]
Class Of Stock [Line Items]
Total employee stock-based compensation recorded as operating expenses	44,000	144,000	303,000	669,000
2012 Plan [Member]
Class Of Stock [Line Items]
Issuances of common stock from stock option exercises, Shares	310,203	91,203	867,058	665,743
Remaining options vest			36 months
Stock options [Member]
Class Of Stock [Line Items]
Total employee stock-based compensation recorded as operating expenses	1,533,000	605,000	4,900,000	2,160,000
Total unrecognized compensation cost related, weighted average period			2 years 10 months 2 days
Stock options [Member] | Research and development expense [Member]
Class Of Stock [Line Items]
Total employee stock-based compensation recorded as operating expenses	327,000	129,000	856,000	262,000
Stock options [Member] | General and administrative expense [Member]
Class Of Stock [Line Items]
Total employee stock-based compensation recorded as operating expenses	$1,206,000	476,000	4,044,000	1,898,000
Stock options [Member] | 2012 Plan [Member]
Class Of Stock [Line Items]
Restricted stock vesting conditions			stock options generally vest on the one year anniversary of the grant date, quarterly over a three year period, or 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

Stockholders_Equity_Summary_of1

Stockholders' Equity - Summary of Stock Option Activity (Detail) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options Outstanding, Beginning balance			5,935,888
Granted, Options Outstanding			867,058
Canceled, Options Outstanding			-35,443
Exercised, Options Outstanding	-10,612	-76,501	-99,358	-83,801
Options Outstanding, Ending balance	6,668,145		6,668,145
Vested and Exercisable, Options Outstanding	2,559,635		2,559,635
Weighted-Average Exercise Price, Options Beginning balance			$4.87
Options granted, Weighted-Average Exercise Price			$7.23
Options canceled, Weighted-Average Exercise Price			$7.25
Options exercised, Weighted-Average Exercise Price			$2.18
Weighted-Average Exercise Price, Options Ending balance	$5.21		$5.21
Vested and Exercisable, Weighted-Average Exercise Price	$3.01		$3.01
Aggregate Intrinsic Value, Options Beginning balance			$20,482,823
Options Exercised, Aggregate Intrinsic Value			462,948
Aggregate Intrinsic Value, Options Ending balance	18,539,044		18,539,044
Vested and Exercisable at December 30, 2014	$11,124,896		$11,124,896

Stockholders_Equity_Fair_Value

Stockholders' Equity - Fair Value of Employee Stock Options (Detail) (USD $)	1 Months Ended		3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Volatility	76.50%	96.90%	77.00%	82.30%	77.10%	83.90%
Risk-free interest rate	1.65%	0.60%	1.67%	0.78%	1.64%	0.82%
Expected life of options			6 years	6 years	6 years	6 years
Weighted average grant date fair value			$4.49	$5.54	$4.86	$4

Stockholders_Equity_Additional2

Stockholders' Equity - Additional Information 2 (Detail) (USD $)	1 Months Ended		3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended			1 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2012	Mar. 31, 2011	Apr. 30, 2013
								Agreement
Class Of Stock [Line Items]
Purchase shares of common stock for issued warrants			0	450,176		8,647	2,485,233
Number of warrants exercised during period recorded as derivative liability			0	60,176		8,647	1,878,104
Warrants to purchase common stock	145,000	75,000						650,000
Interest expense							$13,000
Number of agreement with consultants								4
Warrants maturity term	5 years	5 years							5 years	5 years
Volatility	76.50%	96.90%	77.00%	82.30%		77.10%	83.90%
Risk-free interest rate	1.65%	0.60%	1.67%	0.78%		1.64%	0.82%
Recognized expenses of warrants			39,000			241,000
Warrants earned, service period	17 months	12 months
Warrants issued					50,000
Weighted-average remaining contractual term of options exercisable						7 years 9 months 26 days
Preferred stock, shares authorized			25,000,000			25,000,000
Preferred stock, shares outstanding			0			0
Consultation Service Agreement September 2014
Class Of Stock [Line Items]
Recognized expenses of warrants			0			273,000
Consultation Service Agreement November 2014
Class Of Stock [Line Items]
Recognized expenses of warrants			35,000			35,000
Amendment March 2013 [Member]
Class Of Stock [Line Items]
Warrants to purchase common stock											269,657
Warrants reclassified to additional paid in capital											767,000
Minimum [Member]
Class Of Stock [Line Items]
Warrants exercisable price, per share			$0.85			$0.85
Warrants maturity term								2 years
Minimum [Member] | Amendment March 2013 [Member]
Class Of Stock [Line Items]
Warrants exercisable price, per share											$1
Maximum [Member]
Class Of Stock [Line Items]
Warrants exercisable price, per share			$7.62			$7.62
Warrants maturity term								5 years
Maximum [Member] | Amendment March 2013 [Member]
Class Of Stock [Line Items]
Warrants exercisable price, per share											$0.85
Warrants [Member]
Class Of Stock [Line Items]
Cashless exercise for issuance of common stock			0	383,403		7,600	2,010,889
Number of warrant exercised through cashless			100,000	150,130		203,000	393,630
Warrants exercisable price, per share	6.84	7.36
Proceeds from warrant exercise			221,000	284,696		445,000	935,876
Warrants liability			0	375,000		55,000	10,522,000
Estimated fair value of warrants	309,000	404,000						890,000
Recognized expenses of warrants							72,000
Weighted-average remaining contractual term of options exercisable						2 years 7 months 17 days
Warrants [Member] | Amendment April 2013 [Member]
Class Of Stock [Line Items]
Interest expense							$12,000
Warrants [Member] | Minimum [Member]
Class Of Stock [Line Items]
Warrants exercisable price, per share			$1	1		$1	$1	1.7
Volatility								79.80%
Risk-free interest rate								0.24%
Warrants [Member] | Maximum [Member]
Class Of Stock [Line Items]
Warrants exercisable price, per share			$2.21	3.24		$2.21	$3.24	3.24
Volatility								103.80%
Risk-free interest rate								0.63%

Stockholders_Equity_Summary_of2

Stockholders' Equity - Summary of Warrant Activity (Detail) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, Beginning balance			5,935,888
Granted, Options Outstanding			867,058
Exercised, Options Outstanding	-10,612	-76,501	-99,358	-83,801
Options Outstanding, Ending balance	6,668,145		6,668,145
Weighted-Average Exercise Price, Options Beginning balance			$4.87
Granted, Weighted-Average Exercise Price			$7.23
Exercised, Weighted-Average Exercise Price			$2.18
Weighted-Average Exercise Price, Options Ending balance	$5.21		$5.21
Warrants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, Beginning balance			1,194,756
Granted, Options Outstanding			195,000
Exercised, Options Outstanding			-211,647
Options Outstanding, Ending balance	1,178,109		1,178,109
Weighted-Average Exercise Price, Options Beginning balance			$1.79
Granted, Weighted-Average Exercise Price			$7.04
Exercised, Weighted-Average Exercise Price			$2.14
Weighted-Average Exercise Price, Options Ending balance	$2.59		$2.59

Stockholders_Equity_Common_Sto

Stockholders' Equity - Common Stock Reserved for Future Issuance (Detail)	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	11,253,891
Warrants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	1,178,109
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	9,403,590

Commitments_and_Contingencies_1

Commitments and Contingencies - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended		9 Months Ended
	Dec. 05, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
	sqft
Commitments And Contingencies Disclosure [Abstract]
Leasehold improvements				$47,000
Rent expense		235,000	112,000	705,000	322,000
Base rent under the lease	38,800			38,800
Base rent escalators	3.00%	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 $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Commitments And Contingencies Disclosure [Abstract]
Fiscal year ended March 31, 2015	$242
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	$6,764