Tyme (TYME) 10-Q 31 Jul 18 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2018	Jul. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Trading Symbol	TYME
Entity Registrant Name	TYME TECHNOLOGIES, INC.
Entity Central Index Key	1,537,917
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		101,226,479

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Current Assets
Cash and cash equivalents	$ 22,438,597	$ 28,975,822
Prepaid rent	242,755
Prepaid expenses and other current assets	787,373	732,555
Total current assets	23,468,725	29,708,377
Property and equipment, net of accumulated depreciation	16,413	3,239
Prepaid clinical costs	1,306,225	1,306,225
Prepaid rent, net of current portion	283,214
Total assets	25,074,577	31,017,841
Current liabilities
Accounts payable and other current liabilities (including $362,000 and $384,000 of related party accounts payable, respectively)	2,717,673	2,817,090
Accrued bonuses		1,248,690
Insurance note payable	269,325	480,094
Total current liabilities	2,986,998	4,545,874
Total liabilities	2,986,998	4,545,874
Stockholders' equity
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 0 shares issued and outstanding
Common stock, $0.0001 par value, 300,000,000 shares authorized, 101,226,479 issued and outstanding at June 30, 2018 and March 31, 2018	10,125	10,125
Additional paid in capital	81,631,831	79,293,423
Accumulated deficit	(59,554,377)	(52,831,581)
Total stockholders' equity	22,087,579	26,471,967
Total liabilities and stockholders' equity	$ 25,074,577	$ 31,017,841

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized	300,000,000	300,000,000
Common stock, issued	101,226,479	101,226,479
Common stock, outstanding	101,226,479	101,226,479
Drinker, Biddle & Reath LLP ("DBR") [Member]
Related party accounts payable	$ 362,000	$ 384,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Revenues	$ 0	$ 0
Operating expenses:
Research and development	3,010,688	1,264,358
General and administrative (including $400,000 and $406,000 of related party legal expenses, respectively)	3,708,481	1,924,204
Total operating expenses	6,719,169	3,188,562
Loss from operations	(6,719,169)	(3,188,562)
Other income		315,624
Interest expense	(3,627)
Net loss	$ (6,722,796)	$ (2,872,938)
Basic and diluted loss per common share	$ (0.07)	$ (0.03)
Basic and diluted weighted average shares outstanding	101,226,479	89,258,377

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Related party legal expenses	$ 400,000	$ 406,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity - 3 months ended Jun. 30, 2018 - USD ($)	Total	Common Stock [Member]	Additional Paid-in capital [Member]	Accumulated Deficit [Member]
Balance, at beginning at Mar. 31, 2018	$ 26,471,967	$ 10,125	$ 79,293,423	$ (52,831,581)
Balance, at beginning (in shares) at Mar. 31, 2018	101,226,479	101,226,479
Stock based compensation	$ 2,338,408		2,338,408
Net loss	(6,722,796)			(6,722,796)
Balance, at end at Jun. 30, 2018	$ 22,087,579	$ 10,125	$ 81,631,831	$ (59,554,377)
Balance, at end (in shares) at Jun. 30, 2018	101,226,479	101,226,479

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities
Net loss	$ (6,722,796)	$ (2,872,938)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	2,369	1,074
Amortization of employees, directors and consultants stock options	2,338,408	1,296,723
Gain on remeasurement of derivative liability		(315,624)
Change in operating assets and liabilities:
Prepaid rent	(525,969)
Prepaid expenses and other assets	(54,818)	(1,053,768)
Accounts payable and other current liabilities	(99,417)	191,218
Accrued bonuses	(1,248,690)
Net cash used in operating expenses	(6,310,913)	(2,753,315)
Cash flows from investing activities
Purchase of property & equipment	(15,543)
Net cash used in investing activities	(15,543)
Cash flows from financing activities
Insurance note payments	(210,769)
Proceeds from private placement offering of common stock and warrants, net of issuance costs		2,597,100
Proceeds from collection of stock subscription receivable		174,998
Net cash (used in) provided by financing activities	(210,769)	2,772,098
Net (decrease) increase in cash	(6,537,225)	18,783
Cash and cash equivalents - beginning	28,975,822	10,482,977
Cash and cash equivalents - ending	22,438,597	10,501,760
Supplemental Cash Flow Information:
Interest	$ 3,627
Noncash investing and financing activities:
Derivative liability associated with the price protection feature of shares of common stock issued		$ 11,785

Nature of Business

Nature of Business	3 Months Ended
	Jun. 30, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Business	Note 1. Nature of Business Tyme Technologies, Inc. (“Tyme Tech”) is a Delaware corporation headquartered in New York, NY, with wholly-owned subsidiaries, Tyme Inc. (“ Tyme ”) and Luminant Biosciences, LLC (“ Luminant ”) (collectively, the “ Company ”). Prior to 2014, Luminant conducted the initial research and development of the Company’s therapeutic platform. Since January 1, 2014, the majority of the Company’s research, development and other business activities have been conducted by Tyme, which was incorporated in Delaware in 2013. On October 27, 2016, the Board of Directors of Tyme Tech approved a change in fiscal year end from December 31 to March 31 of each year. The Company is a clinical-stage biotechnology company developing novel cancer therapeutics that are intended to be effective across many tumor types while also maintaining low toxicity. Tyme’s operations to date have been directed primarily toward research and development activities for human oncologic product candidates. The Company has completed an ongoing Investigational New Drug application (“IND”)-enabled Phase Ib clinical study, has an ongoing Phase II clinical study for use of SM-88 in biomarker-recurrent prostate cancer patients and recently initiated a Phase II clinical study in metastatic pancreatic cancer. The Company is evaluating the expansion of its clinical programs to other types of cancer and may also seek to develop oncology drug candidates in addition to SM-88, its lead clinical program. The accompanying condensed consolidated financial statements include the results of operations of Tyme Tech and its wholly-owned subsidiaries. Liquidity The condensed consolidated financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has historically funded its operations primarily through equity offerings. During fiscal year 2018, the Company raised gross proceeds of approximately $32.1 million through the issuance of its common stock, par value $0.0001 per share (“Common Stock”). Most recently in March 2018, the Company raised aggregate gross proceeds of $23.3 million before underwriting discounts and commissions and expenses of the offering through an underwritten public offering. Previously on November 2, 2017, the Company entered into an equity distribution agreement (“Equity Distribution Agreement”) with Canaccord Genuity Inc. (“Canaccord”), to commence an at-the-market offering (the “ATM Financing Facility”) pursuant to which the Company may, from time to time, subject to certain rules and regulations, sell shares of the Company’s common stock, par value $0.0001 per share, having an aggregate offering price up to $30.0 million, through Canaccord, as the Company’s sales agent. In the year ended March 31, 2018, the Company raised approximately $6.2 million in aggregate gross proceeds before commissions and expenses through the ATM Financing Facility and paid Canaccord aggregate commissions of $0.3 million. At June 30, 2018, there remained approximately $24.0 million of availability to sell shares through the facility. For the three months ended June 30, 2018, the Company had negative cash flow from operations of $6.3 million and net loss of $6.7 million, which included $2.3 million Management has concluded that substantial doubt does not exist regarding the Company’s ability to satisfy its obligations as they come due during the twelve-month period following the issuance of these financial statements. This conclusion is based on the Company’s assessment of qualitative and quantitative conditions and events, considered in aggregate as of the date of issuance of these financial statements that are known and reasonably knowable. Among other relevant conditions and events, the Company has considered its operational plans, liquidity sources, obligations due or expected, funds necessary to maintain the Company’s operations, and potential adverse conditions or events as of the issuance date of these financial statements. The Company has developed an operational plan that manages expenses and delays initiation of certain operational initiatives to focus on core programs if appropriate funding is not available.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements and related notes should be read in conjunction with our condensed consolidated financial statements and related notes contained in our Annual Report on Form 10-K for the year ended March 31, 2018 filed with the SEC on June 13, 2018 (the “2018 10-K”). The condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) related to interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. The financial information contained herein is unaudited; however, management believes all adjustments have been made that are necessary to present fairly the results for the interim periods. All such adjustments are of a normal and recurring nature. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. The Company’s condensed consolidated financial statements include the accounts of Tyme Tech and its subsidiaries, Tyme and Luminant. All intercompany transactions and balances have been eliminated in consolidation. Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). Significant Accounting Policies The Company’s significant accounting policies are disclosed in the audited financial statements for the year ended March 31, 2018 included in the Company’s 2018 10-K. Reclassifications The Company has reclassified certain prior period amounts to conform to the current period presentation relating to Prepaid clinical costs for $1,306,225. These reclassifications have no effect on the previously reported net loss. Recent Accounting Pronouncements In May 2017, the FASB issued ASU No. 2017-09, Compensation-Stock Compensation (Topic 718) - Scope of Modification Accounting In February 2017, the FASB issued Update No. 2017-05, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets In January 2017, the FASB issued ASU 2017-01, amending Business Combinations: Clarifying the Definition of a Business In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments

Net Loss Per Common Share

Net Loss Per Common Share	3 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Net Loss Per Common Share	Note 3. Net Loss Per Common Share The following table sets forth the computation of basic and diluted net loss per common share for the periods indicated: Three Months Ended June 30, 2018 2017 Basic and diluted net loss per common share calculation: Net loss $ (6,722,796 ) $ (2,872,938 ) Weighted average common shares outstanding — basic and diluted 101,226,479 89,258,377 Net loss per share of common stock — basic and diluted $ (0.07 ) $ (0.03 ) The following outstanding securities at June 30, 2018 and 2017 have been excluded from the computation of diluted weighted average shares outstanding, as they are anti-dilutive: June, 2018 2017 Stock options 7,305,472 3,552,000 Warrants 5,615,641 5,625,641 Total 12,921,113 9,177,641

Accounts Payable and Other Curr

Accounts Payable and Other Current Liabilities	3 Months Ended
	Jun. 30, 2018
Payables And Accruals [Abstract]
Accounts Payable and Other Current Liabilities	Note 4. Accounts Payable and Other Current Liabilities. Accounts payable (including accounts payable to a related party – see Note 9) and other current liabilities consisted of the following: June 30, 2018 March 31, 2018 Legal $ 416,690 $ 421,128 Consulting 101,621 78,101 Accounting and auditing 101,286 81,652 Research and development 1,244,342 1,678,675 Board of Directors and Scientific Advisory 710,971 442,610 Other 142,763 114,924 $ 2,717,673 $ 2,817,090

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 5. Fair Value of Financial Instruments There are no assets and liabilities measured at fair value on a recurring basis as of June 30, 2018 and March 31, 2018. The changes in the fair value of the derivative liability for the three months ended June 30, 2017 are as follows: Fair value at March 31, 2017 $ 378,600 Fair value of liability-classified anti-dilution feature $ 11,785 Change in fair value of derivative liability (315,624 ) Fair value at June 30, 2017 $ 74,761 The fair value of the derivative liability was written down to zero as of December 31, 2017 because the anti-dilution provision of the March 2017 Private Placement expired on September 10, 2017 and the anti-dilution provision of the April 2017 Private Placement expired on October 7, 2017, in each case with no shares issued pursuant to such provisions. The fair value of the derivative liability as of June 30, 2017 was estimated using a Monte Carlo simulation model using the following assumptions: June 30, Volatility 60 % Risk-Free Interest Rate 0.96 % Expected Term in Years 2.4 months Dividend Rate 0.00 % Fair Value of Common Stock Share $ 1.78

Debt

Debt	3 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	Note 6. Debt. Insurance Note Payable During the year ended March 31, 2018, the Company entered into a short-term financing arrangement with its insurance carrier related to payment of premium for its Director and Officer liability insurance coverage totaling $480,094 for the policy year ending on March 31, 2019. As of June 30, 2018 and March 31, 2018, there remained a balance of $269,325 and $480,094, respectively, recorded to Insurance note payable on the accompanying consolidated balance sheets.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Stockholders' Equity	Note 7. Stockholders’ Equity. Securities Purchase Agreements In April 2017, the Company raised $2.7 million in gross proceeds through a private placement (“April 2017 Private Placement”) of 1,069,603 shares of Common Stock and 1,069,603 common stock purchase warrants (each, a “Warrant”). Each Warrant entitles its holder to purchase one share of common stock (each, a “Warrant Share”) at an exercise price of $3.00 per Warrant Share. The warrants expire two years from the date of issuance and vest immediately. The warrants are included within additional paid-in capital on the statement of stockholders’ equity and will not be subject to remeasurement. At each of June 30, 2018 and March 31, 2018, 5,566,107 common stock purchase warrants relating to securities purchase agreements were outstanding and exercisable. The following summarizes the common stock warrant activity for the three months ended June 30, 2018: Warrant Shares of Common Stock Weighted Average Exercise Price Outstanding at March 31, 2018 5,615,641 $ 3.34 Outstanding at June 30, 2018 5,615,641 $ 3.34 At-the-Market Financing Facility On November 2, 2017, the Company entered into the Equity Distribution Agreement with Canaccord, to commence the ATM Financing Facility pursuant to which the Company may, from time to time, sell shares of the Company’s Common Stock having an aggregate offering price up to $30,000,000 through Canaccord, as the Company’s sales agent. For the three months ended June 30, 2018, the Company did not sell any securities through the ATM Financing Facility. At June 30, 2018, there remained approximately $24,000,000 of availability to sell shares through the facility. Under the ATM Financing Facility, the Company is not required to issue the full available amount authorized and it may be cancelled at any time. Public Offering In March 2018, the Company raised approximately $23,288,000 in gross proceeds through a public offering of 10,350,000 shares of our common stock. The Offering was made pursuant to the Company’s registration statement on Form S-3 (Registration No. 333-211489), which was declared effective by the U.S. Securities and Exchange Commission on August 16, 2017, a base prospectus dated August 16, 2017 and a prospectus supplement dated March 1, 2018.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies. Contract Service Providers In the course of the Company’s normal business operations, it enters into agreements and arrangements with contract service providers to assist in the performance of its research and development and clinical research activities. Purchase Commitments During fiscal year 2018, we entered into two contracts with manufacturers to supply certain components used in SM-88 in order to achieve favorable pricing on supplied products. These contracts have non-cancellable elements related to the scheduled deliveries of these products in future periods. Payments are made by us to the manufacturer when the products are delivered and of acceptable quality. The contracts are structured to match clinical supply needs for our ongoing trials and we expect the timing of associated payments to predominately occur during fiscal year 2019. Total outstanding future obligations associated with the contracts were $1.1 million and $1.7 million at June 30, 2018 and March 31, 2018, respectively.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Note 9. Related Party Transactions. Legal Drinker Biddle & Reath LLP (“DBR”) has provided legal services to the Company. A partner of DBR is a member of the Board of Directors and has received, and is entitled to receive in the future, as well as cash compensation payable generally to non-employee directors, equity compensation payable to non-employee directors generally under the 2016 Director Plan. During the three months ending June 30, 2018 and 2017, approximately $400,000

Equity Incentive Plan

Equity Incentive Plan	3 Months Ended
	Jun. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity Incentive Plan	Note 10. Equity Incentive Plan. Stock Options As of June 30, 2018, there was approximately $10,931,210 of total unrecognized compensation expense related to non-vested stock options. The cost is expected to be recognized over the remaining weighted average service period of 1.37 Stock based compensation expense recognized was as follows (in thousands): Three Months Ended June 30, 2018 2017 General and administrative $ 1,661,000 $ 807,000 Research and development 677,000 489,000 $ 2,338,000 $ 1,296,000 The Company uses the Black-Scholes option pricing model to determine the fair value of stock options granted. In accordance with ASC 718 for employees and non-employees, the compensation expense is amortized on a straight-line basis over the requisite service period, which approximates the vesting period. The Company accounts for forfeitures as they occur, rather than estimating forfeitures as of an award’s grant date. The expected volatility of options granted has been determined using the method described under ASC 718 using the expected volatility of similar companies. The expected term of options granted to employees in the current fiscal period has been based on the term by using the simplified “plain-vanilla” method as allowed under SAB No. 110. The expected term of options granted to non-employees and consultants is based on the grant’s full contractual life. Prior to the three months ended December 31, 2017, the Company used the full contractual term as the expected term in its Black Scholes model to estimate stock option value. The Company used the full contractual term because there was no history of exercise activity and the stock was thinly-traded on the OTC Market. Beginning in the three months ended December 31, 2017, the Company determined the use of the simplified method was more appropriate than the full contractual term due to the increased trading volume and activity during the quarter and the increased market and demand for shares. Based on these factors, the Company deemed it no longer appropriate to use the full contractual term for expected life, because these changes in the business indicate the likelihood that there will be exercise activity before completion of the full contractual term. The Company considered other methods to estimate expected term other than the simplified method. However, as noted above, there is no historical exercise data to provide a reasonable basis upon which to estimate expected term due to the limited period of time its equity shares have been publicly traded and no other refined estimate of expected life that is appropriate. The weighted average assumptions used to determine such values are presented in the following table: June 30, 2018 June 30, 2017 Risk free interest rate 2.87 % 2.17 % Expected volatility 75.09 % 90.02 % Expected term (in years) 5.91 10 Dividend yield 0 % 0 % The following is a summary of the status of the Company’s stock options as of June 30, 2018: Number of Options Weighted Average Exercise Price Outstanding at March 31, 2018 5,438,072 $ 5.11 Granted 1,867,400 2.90 Exercised — — Forfeited/Cancelled Outstanding at June 30, 2018 7,305,472 4.55 Options exercisable at June 30, 2018 3,544,980 5.23 Stock Options Outstanding Stock Options Vested Range of Exercise Price Number Outstanding at June 30, 2018 Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value Number Vested at June 30, 2018 Weighted Average Exercise Price Aggregate Intrinsic Value $2.30-$8.75 7,305,472 4.55 8.45 1,227,002 3,544,980 5.23 324,170 The intrinsic value, which is calculated as the excess of the market value of June 30, 2018 over the exercise price of the options, is approximately $1,227,002 and $324,170 for outstanding stock options and vested stock options, respectively. The market value as of June 30, 2018 was $3.16 as reported by the NASDAQ Capital Market.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 11. Income Taxes. A valuation allowance is recorded if it is more likely than not that a deferred tax asset will not be realized. The Company weighed available positive and negative evidence and concluded that a full valuation allowance should continue to be maintained on its net deferred tax assets. The Company is required to evaluate uncertain tax positions taken or expected to be taken in the course of preparing the Company’s condensed consolidated financial statements to determine whether the tax positions are more likely than not of being sustained by the applicable tax authority. As of June 30, 2018, the Company’s uncertain tax positions remain unchanged. Due to the full valuation allowance, none of the gross unrecognized tax benefits would affect the effective tax rate at June 30, 2018, if recognized. The Company had no income tax related penalties or interest for periods presented in these condensed consolidated financial statements related to uncertain tax positions due to available net operating loss carryforwards, which would be recorded as tax expense should the Company accrue for such items. On December 22, 2017 the U.S. Tax Cuts and Jobs Act (“the Act”) was signed into legislation. The Act changed the Federal statutory tax rate to 21% for tax years beginning January 1, 2018. Because the Company has a full valuation allowance against its net deferred tax asset, the rate change has no effect on the Company’s income tax expense.

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 12. Subsequent Events On July 30, 2018, the Company entered into amended employment agreements with Ben R. Taylor, the Company’s President and Chief Financial Officer, and Dr. Jonathan Eckard, the Company’s Chief Scientific Affairs Officer (the “Amended Employment Agreements”). The Amended Employment Agreements modify the severance benefits provided thereunder and provide that all equity awards would immediately vest in the event of a change of control (as defined in the Company’s 2015 Equity Incentive Plan). The Amended Employment Agreements also changed the duration of each executive’s non-compete and non-solicitation covenants to two years. On July 30, 2018, the Board approved modifications to stock options awarded to employees under the 2015 Equity Incentive Plan on May 24, 2018 to change the vesting terms, which had previously provided for vesting over a four-year period (with 25% of the award vesting on the one-year anniversary of grant and the remaining vesting in pro rata quarterly increments), such that the awards vest instead on a three year vesting schedule, vesting in pro rata quarterly increments. No other terms of these options were modified. See Part II. Item 5. Other Information for additional details regarding the Amended Employment Agreements and stock option modifications.

Basis of Presentation and Sum20

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements and related notes should be read in conjunction with our condensed consolidated financial statements and related notes contained in our Annual Report on Form 10-K for the year ended March 31, 2018 filed with the SEC on June 13, 2018 (the “2018 10-K”). The condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) related to interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. The financial information contained herein is unaudited; however, management believes all adjustments have been made that are necessary to present fairly the results for the interim periods. All such adjustments are of a normal and recurring nature. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. The Company’s condensed consolidated financial statements include the accounts of Tyme Tech and its subsidiaries, Tyme and Luminant. All intercompany transactions and balances have been eliminated in consolidation. Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”).
Principles of Consolidation	The Company’s significant accounting policies are disclosed in the audited financial statements for the year ended March 31, 2018 included in the Company’s 2018 10-K.
Reclassifications	Reclassifications The Company has reclassified certain prior period amounts to conform to the current period presentation relating to Prepaid clinical costs for $1,306,225. These reclassifications have no effect on the previously reported net loss.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2017, the FASB issued ASU No. 2017-09, Compensation-Stock Compensation (Topic 718) - Scope of Modification Accounting In February 2017, the FASB issued Update No. 2017-05, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets In January 2017, the FASB issued ASU 2017-01, amending Business Combinations: Clarifying the Definition of a Business In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	3 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of basic and diluted net loss per common share for the periods indicated: Three Months Ended June 30, 2018 2017 Basic and diluted net loss per common share calculation: Net loss $ (6,722,796 ) $ (2,872,938 ) Weighted average common shares outstanding — basic and diluted 101,226,479 89,258,377 Net loss per share of common stock — basic and diluted $ (0.07 ) $ (0.03 )
Schedule of Anti-dilutive Shares Outstanding	The following outstanding securities at June 30, 2018 and 2017 have been excluded from the computation of diluted weighted average shares outstanding, as they are anti-dilutive: June, 2018 2017 Stock options 7,305,472 3,552,000 Warrants 5,615,641 5,625,641 Total 12,921,113 9,177,641

Accounts Payable and Other Cu22

Accounts Payable and Other Current Liabilities (Tables)	3 Months Ended
	Jun. 30, 2018
Payables And Accruals [Abstract]
Schedule of Accounts Payable and Other Current Liabilities	Accounts payable (including accounts payable to a related party – see Note 9) and other current liabilities consisted of the following: June 30, 2018 March 31, 2018 Legal $ 416,690 $ 421,128 Consulting 101,621 78,101 Accounting and auditing 101,286 81,652 Research and development 1,244,342 1,678,675 Board of Directors and Scientific Advisory 710,971 442,610 Other 142,763 114,924 $ 2,717,673 $ 2,817,090

Fair Value of Financial Instr23

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Changes in Fair Value Derivative Liability	The changes in the fair value of the derivative liability for the three months ended June 30, 2017 are as follows: Fair value at March 31, 2017 $ 378,600 Fair value of liability-classified anti-dilution feature $ 11,785 Change in fair value of derivative liability (315,624 ) Fair value at June 30, 2017 $ 74,761
Fair Value of the Derivative Liability	The fair value of the derivative liability as of June 30, 2017 was estimated using a Monte Carlo simulation model using the following assumptions: June 30, Volatility 60 % Risk-Free Interest Rate 0.96 % Expected Term in Years 2.4 months Dividend Rate 0.00 % Fair Value of Common Stock Share $ 1.78

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Schedule of Common Stock Warrant Activity	The following summarizes the common stock warrant activity for the three months ended June 30, 2018: Warrant Shares of Common Stock Weighted Average Exercise Price Outstanding at March 31, 2018 5,615,641 $ 3.34 Outstanding at June 30, 2018 5,615,641 $ 3.34

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	3 Months Ended
	Jun. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Stock based compensation expense	Stock based compensation expense recognized was as follows (in thousands): Three Months Ended June 30, 2018 2017 General and administrative $ 1,661,000 $ 807,000 Research and development 677,000 489,000 $ 2,338,000 $ 1,296,000
Schedule of Assumptions Used to Estimate the Fair Value of Stock Options Granted	The weighted average assumptions used to determine such values are presented in the following table: June 30, 2018 June 30, 2017 Risk free interest rate 2.87 % 2.17 % Expected volatility 75.09 % 90.02 % Expected term (in years) 5.91 10 Dividend yield 0 % 0 %
Schedule of Stock Options	The following is a summary of the status of the Company’s stock options as of June 30, 2018: Number of Options Weighted Average Exercise Price Outstanding at March 31, 2018 5,438,072 $ 5.11 Granted 1,867,400 2.90 Exercised — — Forfeited/Cancelled Outstanding at June 30, 2018 7,305,472 4.55 Options exercisable at June 30, 2018 3,544,980 5.23
Schedule of Stock Option by Exercise Price Range	Stock Options Outstanding Stock Options Vested Range of Exercise Price Number Outstanding at June 30, 2018 Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value Number Vested at June 30, 2018 Weighted Average Exercise Price Aggregate Intrinsic Value $2.30-$8.75 7,305,472 4.55 8.45 1,227,002 3,544,980 5.23 324,170

Nature of Business - Additional

Nature of Business - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018	Nov. 02, 2017
Cash proceeds from private placement			$ 32,100,000
Common stock, par value	$ 0.0001		$ 0.0001	$ 0.0001
Aggregate offering				$ 30,000,000
Available for offering	$ 24,000,000
Net cash used in operating activities	(6,310,913)	$ (2,753,315)
Net loss	(6,722,796)	$ (2,872,938)
Non-cash expense	2,300,000
Working capital	$ 22,100,000
Underwriters Public Offering [Member]
Cash proceeds from private placement			$ 23,300,000
ATM Financing Facility [Member]
Cash proceeds from private placement			6,200,000
Offering expense			$ 300,000

Basis of Presentation and Sum27

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Accounting Policies [Abstract]
Prepaid clinical costs	$ 1,306,225	$ 1,306,225

Net Loss Per Common Share - Sch

Net Loss Per Common Share - Schedule of Basic and Diluted Net Loss Per Share (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Basic and diluted net loss per common share calculation:
Net loss	$ (6,722,796)	$ (2,872,938)
Weighted average common shares outstanding — basic and diluted	101,226,479	89,258,377
Net loss per share of common stock — basic and diluted	$ (0.07)	$ (0.03)

Net Loss Per Common Share - S29

Net Loss Per Common Share - Schedule of Anti-dilutive Shares Outstanding (Detail) - shares	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Total	12,921,113	9,177,641
Stock Options [Member]
Total	7,305,472	3,552,000
Warrant [Member]
Total	5,615,641	5,625,641

Accounts Payable and Other Cu30

Accounts Payable and Other Current Liabilities - Schedule of Accounts Payable and Other Current Liabilities (Detail) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Payables And Accruals [Abstract]
Legal	$ 416,690	$ 421,128
Consulting	101,621	78,101
Accounting and auditing	101,286	81,652
Research and development	1,244,342	1,678,675
Board of Directors and Scientific Advisory	710,971	442,610
Other	142,763	114,924
Total	$ 2,717,673	$ 2,817,090

Fair Value of Financial Instr31

Fair Value of Financial Instruments - Additional Information (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($)	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 0	$ 0
Liabilities measured at fair value	$ 0	$ 0
Derivative liability - anti-dilution feature			$ 0

Fair Value of Financial Instr32

Fair Value of Financial Instruments - Schedule of Changes in Fair Value Derivative Liability (Detail)	3 Months Ended
	Jun. 30, 2017USD ($)
Debt Instrument Fair Value Carrying Value [Abstract]
Fair value at March 31, 2017	$ 378,600
Fair value of liability-classified anti-dilution feature	11,785
Change in fair value of derivative liability	(315,624)
Fair value at June 30, 2017	$ 74,761

Fair Value of Financial Instr33

Fair Value of Financial Instruments - Fair Value of the Derivative Liability (Detail) - Derivative liabilities [Member]	3 Months Ended
	Jun. 30, 2017$ / shares
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Volatility	60.00%
Risk-Free Interest Rate	0.96%
Expected Term in Years	2 months 12 days
Dividend Rate	0.00%
Fair Value of Common Stock Share	$ 1.78

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2018	Mar. 31, 2018
License Agreement [Line Items]
Remaining insurance note payable	$ 269,325	$ 480,094
Insurance Note Payable [Member]
License Agreement [Line Items]
Principal amount		480,094
Remaining insurance note payable	$ 269,325	$ 480,094
Maturity period	March 31, 2019

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2017	Jun. 30, 2018	Mar. 31, 2018	Nov. 02, 2017
Aggregate offering				$ 30,000,000
Available for offering		$ 24,000,000
Gross proceeds through public offering			$ 32,100,000
Warrant [Member]
Exercise price		$ 3.34	$ 3.34
Common stock purchase warrants outstanding and exercisable		5,615,641	5,615,641
April 2017 Private Placement [Member]
Total gross proceeds from private placement	$ 2,700,000
Number of shares issued upon new issue	1,069,603
April 2017 Private Placement [Member] | Warrant [Member]
Number of shares issued upon new issue	1,069,603
Warrant to purchase common stock shares	1
Exercise price	$ 3
Vesting period	2 years
Private Placement [Member] | Warrant [Member] | Securities Purchase Agreement [Member]
Common stock purchase warrants outstanding and exercisable		5,566,107	5,566,107
ATM Financing Facility [Member]
Number of shares issued upon new issue		0
Gross proceeds through public offering			$ 6,200,000
Public Offering [Member]
Number of shares issued upon new issue			10,350,000
Gross proceeds through public offering			$ 23,288,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Common Stock Warrant Activity (Detail) - Warrant [Member]	Jun. 30, 2018$ / sharesshares
Class Of Warrant Or Right [Line Items]
Warrant Shares of Common Stock, Outstanding at beginning | shares	5,615,641
Warrant Shares of Common Stock, Outstanding at ending | shares	5,615,641
Warrant Shares of Common Stock, Weighted Average Exercise Price at beginning | $ / shares	$ 3.34
Warrant Shares of Common Stock, Weighted Average Exercise Price at ending | $ / shares	$ 3.34

Commitment and Contingencies -

Commitment and Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2018USD ($)Contract	Mar. 31, 2018USD ($)Contract
Commitments And Contingencies Disclosure [Abstract]
Number of contracts | Contract	2	2
Contractual obligation | $	$ 1.1	$ 1.7

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - Drinker, Biddle & Reath LLP ("DBR") [Member] - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
Legal expenses	$ 400,000	$ 406,000
Accounts payable and accrued expenses payable	$ 362,000		$ 384,000

Equity Incentive Plan - Additio

Equity Incentive Plan - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2018USD ($)$ / sharesshares
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Unrecognized compensation expense	$ 10,931,210
Unrecognized compensation expense recognition period	1 year 4 months 13 days
Number of shares available for grants | shares	6,095,790
Equity Incentive Plan 2015 and 2016 [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Aggregate Intrinsic Value, options outstanding	$ 1,227,002
Aggregate Intrinsic Value, options vested and expected to vest	$ 324,170
Share price (in dollars per share) | $ / shares	$ 3.16

Equity Incentive Plan - Allocat

Equity Incentive Plan - Allocation of Share Based Compensation (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated compensation expense	$ 2,338,000	$ 1,296,000
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated compensation expense	1,661,000	807,000
Research and development expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated compensation expense	$ 677,000	$ 489,000

Equity Incentive Plan - Schedul

Equity Incentive Plan - Schedule of Assumptions Used to Estimate the Fair Value of Stock Options Granted (Detail)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Exercise Price And Additional Disclosures [Abstract]
Risk free interest rate	2.87%	2.17%
Expected volatility	75.09%	90.02%
Expected term (in years)	5 years 10 months 28 days	10 years
Dividend yield	0.00%	0.00%

Equity Incentive Plan - Sched42

Equity Incentive Plan - Schedule of Stock Options (Detail)	3 Months Ended
	Jun. 30, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning | shares	5,438,072
Granted | shares	1,867,400
Exercised | shares	0
Outstanding at ending | shares	7,305,472
Options exercisable | shares	3,544,980
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding at beginning | $ / shares	$ 5.11
Granted | $ / shares	2.90
Exercised | $ / shares	0
Outstanding at ending | $ / shares	4.55
Options exercisable | $ / shares	$ 5.23

Equity Incentive Plan - Sched43

Equity Incentive Plan - Schedule of Stock Option by Exercise Price Range (Detail) - Exercise Price $2.30 - $8.75 [Member]	3 Months Ended
	Jun. 30, 2018USD ($)$ / sharesshares
Stock Options Outstanding
Number Outstanding | shares	7,305,472
Weighted Average Exercise Price | $ / shares	$ 4.55
Weighted Average Remaining Life (Years)	8 years 5 months 12 days
Aggregate Intrinsic Value | $	$ 1,227,002
Stock Options Vested
Stock Options Vested | shares	3,544,980
Weighted Average Exercise Price | $ / shares	$ 5.23
Aggregate Intrinsic Value | $	$ 324,170

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Corporate tax rate	21.00%

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - Equity Incentive Plan 2015 [Member]	Jul. 30, 2018
Vesting terms	On July 30, 2018, the Board approved modifications to stock options awarded to employees under the 2015 Equity Incentive Plan on May 24, 2018 to change the vesting terms, which had previously provided for vesting over a four-year period (with 25% of the award vesting on the one-year anniversary of grant and the remaining vesting in pro rata quarterly increments), such that the awards vest instead on a three year vesting schedule, vesting in pro rata quarterly increments.
Vesting period	4 years
One-Year Anniversary [Member]
Vesting, percentage	25.00%