Tyme (TYME) 10-Q 12 Aug 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2020	Aug. 05, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	TYME
Entity Registrant Name	TYME TECHNOLOGIES, INC.
Entity Central Index Key	0001537917
Current Fiscal Year End Date	--03-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		126,881,704
Entity Address, Address Line One	1 Pluckemin Way – Suite 103
Entity Address, City or Town	Bedminster
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07921
City Area Code	212
Local Phone Number	461-2315
Entity Shell Company	false
Entity File Number	001-38169
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3864597
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, $0.0001 par value
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false
Former Address [Member]
Document Information [Line Items]
Entity Address, Address Line One	17 State Street – 7th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10004

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Current Assets
Cash and cash equivalents	$ 21,311,268	$ 26,700,416
Prepaid clinical costs	585,517	396,962
Prepaid expenses and other current assets	733,317	981,949
Total current assets	22,630,102	28,079,327
Property and equipment, net	3,886	5,181
Prepaid clinical costs, net of current portion	1,266,025	1,266,025
Operating lease right-of-use asset	80,795	150,301
Total assets	23,980,808	29,500,834
Current liabilities
Accounts payable and other current liabilities (including $235,000 and $73,000 of related party accounts payable, respectively)	4,468,622	2,827,302
Severance payable	386,461	380,722
Accrued bonuses	467,780	1,800,979
Insurance note payable	347,450	518,124
Operating lease liability	40,049	54,661
Total current liabilities	5,710,362	5,581,788
Long-term liabilities
Severance payable	1,157,269	1,254,910
Warrant liability	1,279,799	3,639,000
Total liabilities	8,147,430	10,475,698
Commitments and contingencies (see Note 9)
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, 126,610,446 issued and outstanding at June 30, 2020, 300,000,000 authorized, 123,312,252 issued and outstanding at March 31, 2020	12,663	12,333
Additional paid in capital	132,461,782	126,828,055
Accumulated deficit	(116,641,067)	(107,815,252)
Total stockholders' equity	15,833,378	19,025,136
Total liabilities and stockholders' equity	$ 23,980,808	$ 29,500,834

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2020	Mar. 31, 2020
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	126,610,446	123,312,252
Common stock, outstanding	126,610,446	123,312,252
Drinker, Biddle & Reath LLP ("DBR") [Member]
Related party accounts payable	$ 235,000	$ 73,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenues	$ 0	$ 0
Operating expenses:
Research and development	4,715,295	2,720,762
General and administrative (including $203,000 and $152,000 of related party legal expenses, respectively)	3,057,072	3,456,724
Total operating expenses	7,772,367	6,177,486
Loss from operations	(7,772,367)	(6,177,486)
Other income (expenses):
Change in fair value of warrant liability	(3,263,271)	2,938,242
Gain on warrant exchange	2,228,697
Interest income	10,502	80,237
Interest expense	(29,376)	(32,979)
Total other income (expenses)	(1,053,448)	2,985,500
Net loss	$ (8,825,815)	$ (3,191,986)
Basic and diluted loss per common share	$ (0.07)	$ (0.03)
Basic and diluted weighted average shares outstanding	124,582,014	111,862,541

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Related party legal expenses	$ 203,000	$ 152,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($)	Total	At-the-Market Financing Facility [Member]	Underwritten Registered Offering [Member]	Common Stock [Member]	Common Stock [Member]At-the-Market Financing Facility [Member]	Common Stock [Member]Underwritten Registered Offering [Member]	Additional Paid-in capital [Member]	Additional Paid-in capital [Member]At-the-Market Financing Facility [Member]	Additional Paid-in capital [Member]Underwritten Registered Offering [Member]	Accumulated Deficit [Member]
Balance, at beginning at Mar. 31, 2019	$ 9,667,882			$ 10,397			$ 95,472,181			$ (85,814,696)
Balance, at beginning (in shares) at Mar. 31, 2019				103,946,048
Issuance of common stock			$ 3,885,172			$ 800			$ 3,884,372
Issuance of common stock (in shares)						8,000,000
Cashless exercise of warrants (in shares)				4,889
Stock based compensation	1,624,961						1,624,961
Net loss	(3,191,986)									(3,191,986)
Balance, at end at Jun. 30, 2019	11,986,029			$ 11,197			100,981,514			(89,006,682)
Balance, at end (in shares) at Jun. 30, 2019				111,950,937
Balance, at beginning at Mar. 31, 2020	$ 19,025,136			$ 12,333			126,828,055			(107,815,252)
Balance, at beginning (in shares) at Mar. 31, 2020	123,312,252			123,312,252
Issuance of common stock		$ 1,171,586			$ 89			$ 1,171,497
Issuance of common stock (in shares)					891,944
Warrant to share exchange	$ 3,393,775			$ 241			3,393,534
Warrant to share exchange (in shares)				2,406,250
Stock based compensation	1,068,696						1,068,696
Net loss	(8,825,815)									(8,825,815)
Balance, at end at Jun. 30, 2020	$ 15,833,378			$ 12,663			$ 132,461,782			$ (116,641,067)
Balance, at end (in shares) at Jun. 30, 2020	126,610,446			126,610,446

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Underwritten Registered Offering [Member]
Offering expense		$ 111,227
At-the-Market Financing Facility [Member]
Offering expense	$ 120,790

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net loss	$ (8,825,815)	$ (3,191,986)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	1,295	1,296
Amortization of employees, directors and consultants stock options	1,068,696	1,624,961
Change in fair value of warrant liability	3,263,271	(2,938,242)
Gain on warrant exchange	(2,228,697)
Change in operating assets and liabilities:
Prepaid clinical costs	(188,555)	144,826
Prepaid expenses and other assets	248,632	445,385
Operating lease right-of-use asset	69,506	73,550
Accounts payable and other current liabilities	1,641,320	(528,769)
Severance payable	(91,902)	(156,031)
Accrued bonuses	(1,333,199)	(1,070,825)
Operating lease liability	(14,612)	(6,852)
Net cash used in operating activities	(6,390,060)	(5,602,687)
Cash flows from financing activities
Insurance note payments	(170,674)	(401,995)
Proceeds from registered offerings, net of issuance costs	1,171,586	11,168,773
Net cash provided by financing activities	1,000,912	10,766,778
Net increase (decrease) in cash and cash equivalents	(5,389,148)	5,164,091
Cash and cash equivalents – beginning	26,700,416	14,302,328
Cash and cash equivalents – ending	21,311,268	19,466,419
Supplemental Cash Flow Information:
Interest	29,376	$ 32,979
Share Exchange Agreements [Member]
Adjustments to reconcile net loss to net cash used in operating activities
Gain on warrant exchange	$ (1,900,000)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Parenthetical)	3 Months Ended
	Jun. 30, 2020shares
Share Exchange Agreements [Member]
Cashless exchange of warrants to purchase	5,833,333
Cashless exchange of shares of common stock	2,406,250
Warrant Exchange Agreements [Member]
Cashless exchange of warrants to purchase	2,166,667

Nature of Business

Nature of Business	3 Months Ended
	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Business	Note 1. Nature of Business Tyme Technologies, Inc. is a Delaware corporation headquartered in Bedminster, New Jersey, with wholly-owned subsidiaries, Tyme Inc. and Luminant Biosciences, LLC (“Luminant”) (collectively, “TYME” or 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 Inc., which was incorporated in Delaware in 2013. TYME is an emerging biotechnology company developing cancer metabolism-based therapies (CMBTs TM The Company’s lead clinical CMBT compound, SM-88, is an oral investigational modified proprietary tyrosine derivative that is hypothesized to interrupt the metabolic processes of cancer cells by breaking down the cells’ key defenses and leading to cell death through oxidative stress and exposure to the body’s natural immune system. Clinical trial data have shown that SM-88 has achieved confirmed tumor responses across 15 different cancers, both solid and liquid tumors, including pancreatic, lung, breast, prostate, sarcoma and lymphoma cancers with minimal serious Grade 3 or higher adverse events, which the Company believes is rare for investigational compounds. The Company’s lead compound SM-88 is now in a pivotal trial and an adaptive randomized Phase II/III trial with registration intent for patients with third- and second-line pancreatic cancer. In fiscal year 2020, we launched our pivotal study for SM-88 in the third-line treatment of pancreatic cancer through an amendment to our ongoing TYME-88-Panc trial (“Part 2”); with the first patient dosed in the third quarter of the fiscal year. We anticipate the trial to be fully enrolled in the first or second quarter of calendar year 2021. We have also partnered with Pancreatic Cancer Action Network (“PanCAN”) to study SM-88 in an adaptive randomized Phase II/III trial with registration intent known as Precision Promise. TYME-18 is a CMBT compound under development that is delivered intratumorally. Like SM-88, TYME-18 leverages the unique metabolism of cancer to create a treatment for inoperable tumors. Preliminary observations of the local administration of TYME-18, an amphiphilic steroid acid, suggested its potential as an important regulator of energy metabolism that may impede the ability of tumors to increase in size which could prove useful in difficult-to-treat cancers. In initial preclinical xenograft mouse studies, TYME-18 was able to completely resolve over 90 percent (11/12 mice) of established colorectal tumors within 12 days versus an average of over 600 percent growth in the control animals. The Company plans to continue with the development of TYME-18 in solid tumors and to provide details of an IND-enabling program this calendar year. 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. In April 2019, the Company raised net proceeds of approximately $11.3 million after underwriting discounts and before expenses through an underwritten registered offering. On October 18, 2019, TYME entered into an Open Market Sale Agreement SM On January 7, 2020, the Company entered into a Securities Purchase Agreement with Eagle Pharmaceuticals, Inc. (“Eagle”), pursuant to which the Company raised $20.0 million through the issuance and sale to Eagle of 10,000,000 shares of common stock, at a price of $2.00 per share (the “Eagle SPA”). The Eagle SPA provides that Eagle will, subject to certain conditions, make an additional payment of $20 million upon the occurrence of a milestone event, which is defined as the earlier of ( i) achievement of the primary endpoint of overall survival in the TYME-88-Panc pivotal trial; (ii) achievement of the primary endpoint of overall survival in the PanCAN Precision Promise SM-88 registration arm; or (iii) FDA approval of SM-88 in any cancer indication. This payment would be split into a $10 million milestone cash payment and a $10 million investment in TYME at a 15% premium to the then prevailing market price. Eagle’s shares will be restricted from sale until the earlier of three months following the milestone event or the three-year anniversary of the agreement. For the three months ended June 30, 2020, the Company had negative cash flow from operations of $6.4 million and net loss of $8.8 million, which included non-cash expenses of $3.3 million related to change in fair value of warrant liability and $1.1 million non-cash equity compensation, partially offset by a non-cash gain on warrant exchange of $2.2 million. As of June 30, 2020, the Company had working capital of approximately $16.9 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.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2020
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 consolidated financial statements and related notes contained in our Annual Report on Form 10-K for the year ended March 31, 2020 filed with the Securities and Exchange Commission (the “SEC”) on May 22, 2020 (the “2020 10-K”). The condensed consolidated financial statements have been prepared in accordance with the rules and regulations of 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 Technologies, Inc. and its subsidiaries, Tyme Inc. 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, 2020 included in the Company’s 2020 10-K. Reclassifications The Company has reclassified certain prior period amounts to conform to the current period presentation. These reclassifications have no effect on the previously reported net loss or cash flows. Fair Value of Financial Instruments The carrying amounts reported in the Company’s condensed consolidated financial statements for cash, accounts payable, and other current liabilities approximate their respective fair values because of the short-term nature of these accounts. The fair value of the severance payable approximates the carrying value, which represents the present value of future severance payments. The fair value of the derivative liability is discussed in Note 6. Derivative Warrant Liability Certain freestanding common stock warrants that are related to the issuance of common stock are classified as liabilities and recorded at fair value due to characteristics that require liability accounting, primarily the obligation to issue registered shares of common stock upon notification of exercise or certain price protection provisions. Warrants of this type are subject to re-measurement at each balance sheet date and any change in fair value is recognized as a component of other income (expense) in the condensed consolidated statement of operations. As noted in Note 8, Stockholders’ Equity, the Company classifies a warrant to purchase shares of its common stock as a liability on its condensed consolidated balance sheet if the warrant is a free-standing financial instrument that contains certain price protection features that cause the warrants to be treated as derivatives or requires the issuance of registered common shares upon exercise. Each warrant of this type is initially recorded at fair value on date of grant using the Monte Carlo simulation model or the Black-Sholes model, and is subsequently re-measured to fair value at each subsequent balance sheet date. Changes in fair value of the warrant are recognized as a component of other income (expense) in the consolidated statement of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the exercise or expiration of the warrant. The Company utilizes Level 3 fair value criteria to measure the fair value of the warrants (see Note 6). Risks and Uncertainties The Company is subject to those risks associated with any specialty pharmaceutical company that has substantial expenditures for research and development. There can be no assurance that the Company’s research and development projects will be successful, that products developed will obtain necessary regulatory approval or that any approved product will be commercially viable. In addition, the Company operates in an environment of rapid technological change and is largely dependent on the services of its employees and consultants, as well as third party contractors. Current Economic Conditions In March 2020, the World Health Organization categorized the novel coronavirus (COVID-19) as a pandemic and the President of the United States declared the COVID-19 outbreak a national emergency. The COVID-19 pandemic, and actions taken by governments and others to reduce its spread, including travel restrictions, shutdowns of businesses deemed non-essential, and stay-at-home or similar orders, has negatively impacted the global economy, financial markets, and our industry and has disrupted day-to-day life and business operations. Even as certain restrictions have been lifted and new processes implemented, the Company believes that the current economic conditions are likely to continue to have a negative impact for the foreseeable future, and the extent to which they may impact the Company’s operations, liquidity and financial condition remains uncertain and may be significant. Recent Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement

Net Loss Per Common Share

Net Loss Per Common Share	3 Months Ended
	Jun. 30, 2020
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, 2020 2019 Basic and diluted net loss per common share calculation: Net loss $ (8,825,815 ) $ (3,191,986 ) Weighted average common shares outstanding — basic and diluted: 124,582,014 111,862,541 Net loss per share of common stock — basic and diluted $ (0.07 ) $ (0.03 ) The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share” (“EPS”). Basic net loss per share is computed by dividing net loss attributable to the Company by the weighted average number of shares of Company Common Stock outstanding for the period, and diluted earnings per share is computed by including common stock equivalents outstanding for the period. During the periods presented, the calculation excludes any potential dilutive common shares and any equivalents as they would have been anti-dilutive. Warrants issued in April 2019, discussed further in Note 8, participated on a one-for-one basis with common stock in the distribution of dividends, if and when declared by the Board of Directors (the “Board”) on the Company’s common stock The following outstanding securities at June 30, 2020 and 2019 have been excluded from the computation of diluted weighted average shares outstanding, as they are anti-dilutive: June 30, 2020 2019 Stock options 14,531,482 11,460,807 Warrants 3,104,318 12,421,172 Total 17,635,800 23,881,979

Accounts Payable and Other Curr

Accounts Payable and Other Current Liabilities	3 Months Ended
	Jun. 30, 2020
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 11) and other current liabilities consisted of the following: June 30, 2020 March 31, 2020 Legal $ 457,471 $ 199,671 Consultant and professional services 243,010 109,504 Accounting and auditing 80,883 118,837 Research and development 3,120,631 1,863,355 Board of Directors and Medical Advisory Board Compensation 477,903 484,750 Other 88,724 51,185 Total $ 4,468,622 $ 2,827,302

Severance Payable

Severance Payable	3 Months Ended
	Jun. 30, 2020
Severance Payable [Abstract]
Severance Payable	Note 5. Severance Payable On March 15, 2019, the Company entered into a Release Agreement related to the separation of employment of its then-Chief Operating Officer. The agreement provides for salary continuance for five years, reimbursement of health benefits for three years and a modification to his outstanding stock options to extend the post-termination exercise period for his vested options from three months to five years. The Company recorded severance expense at its present value of $2.5 million (using a discount rate of 6%) for the year ended March 31, 2019, including $0.4 million relating to the stock option modification. The severance liability payable as of June 30, 2020 and March 31, 2020 was $1.5 million and $1.6 million, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair Value Measurements The carrying amounts reported in the Company’s condensed consolidated financial statements for cash, accounts payable, and other current liabilities approximate their respective fair values because of the short-term nature of these accounts. The fair value of the severance payable approximates the carrying value, which represents the present value of future severance payments. The fair value of the derivative liability is discussed below. Fair value is defined as the price that would be received if selling an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets (Level 1), and the lowest priority to unobservable inputs (Level 3). The Company’s financial assets are classified within the fair value hierarchy based on the lowest level of inputs that is significant to the fair value measurement. The three levels of the fair value hierarchy, and their applicability to the Company’s financial assets, are described below. Level 1 : Unadjusted quoted prices in active markets that are accessible at the measurement date of identical, unrestricted assets. Level 2 : Quoted prices for similar assets, or inputs that are observable, either directly or indirectly, for substantially the full term through corroboration with observable market data. Level 2 includes investments valued at quoted prices adjusted for legal or contractual restrictions specific to the security. Level 3 : Pricing inputs are unobservable for the assets. Level 3 assets include private investments that are supported by little or no market activity. Level 3 valuations are for instruments that are not traded in active markets or are subject to transfer restrictions and may be adjusted to reflect illiquidity and/or non-transferability, with such adjustment generally based on available market evidence. In the absence of such evidence, management’s best estimate is used. An adjustment to the pricing method used within either Level 1 or Level 2 inputs could generate a fair value measurement that effectively falls in a lower level in the hierarchy. The Company had no material re-measurements of fair value with respect to financial assets and liabilities, during the periods presented, other than those assets and liabilities that are measured at fair value on a recurring basis. The fair value of the April 2019 Warrants was determined using a Monte Carlo simulation model and included significant unobservable inputs including volatility and the probability of fundamental transactions occurring (See Note 8 for further discussion of the issuance of common stock from an underwritten registered offering). The fair value of the May 2020 Warrant was determined using the Black Scholes model and included significant unobservable inputs including volatility and discount for lack of marketability. Both models incorporated several observable assumptions at each valuation date including: the price of the Company’s common stock on the date of valuation, the remaining contractual term of the warrant and the risk free interest rate over the term. Transfers are calculated on values as of the transfer date. There were no transfers between Levels 1, 2 and 3 during the three months ended June 30, 2020. The following table details key inputs and assumptions used to estimate the fair value of the May 2020 Warrant as of June 30, 2020 using a Black Scholes model and April 2019 Warrants liability as of March 31, 2020 using the Monte Carlo simulation models: May 2020 Warrant April 2019 Warrants June 30, 2020 March 31, 2020 Stock price $ 1.33 $ 1.10 Volatility 76 % 60 % Remaining term (years) 3.76 4.01 Expected dividend yield — — Risk-free rate 0.22 % 0.33 % Discount for lack of marketability 5.5 % — The Company’s financial instruments measured at fair value on a recurring basis are as follows: Description Total Quoted prices in active markets Significant other observable inputs Significant unobservable inputs (Level 1) (Level 2) (Level 3) June 30, 2020 Warrant liability $ 1,279,799 — — $ 1,279,799 March 31, 2020 Warrant liability $ 3,639,000 — — $ 3,639,000 The following table summarizes activity for liabilities measured at fair value using Level 3 significant unobservable inputs: June 30, 2020 Beginning balance, March 31, 2020 $ 3,639,000 Change in fair value of April 2019 Warrants liability before May 20, 2020 Warrant Exchange 3,661,000 Less: fair value of April 2019 Warrants as of May 20, 2020 (7,300,000 ) Plus: fair value of May 2020 Warrant as of May 20, 2020 1,677,528 Change in fair value of May 2020 Warrant liability from May 20, 2020 to June 30, 2020 (397,729 ) Ending balance $ 1,279,799

Debt

Debt	3 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Note 7. Debt Insurance Note Payable During the year ended March 31, 2020, 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 $0.5 million for the policy year ending on March 18, 2021. As of June 30, 2020 and March 31, 2020, there remained a balance of $0.3 million and $0.5 million, respectively, recorded to insurance note payable on the accompanying consolidated balance sheets.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	Note 8. Stockholders’ Equity The following summarizes the common stock warrant activity for the three months ended June 30, 2020: Warrant Shares of Common Stock Weighted Average Exercise Price Outstanding at March 31, 2020 8,937,651 $ 2.31 Granted 2,166,667 1.80 Exchanged (8,000,000 ) 2.00 Outstanding at June 30, 2020 3,104,318 $ 2.77 At each of June 30, 2020 and March 31, 2020, 3,074,551 and 8,907,884, respectively, of common stock purchase warrants relating to securities purchase agreements were outstanding and exercisable. Warrants The Company has warrants to purchase its common stock outstanding as of June 30, 2020, as follows: Issued Classification Warrants Outstanding Exercise Price Expiration December 2015 Equity 446,500 $ 5.00 December 2025 February 2016 Equity 461,384 $ 5.00 February 2026 July 2016 Equity 29,767 $ 5.00 June 2026 May 2020 Liability 2,166,667 $ 1.80 April 2024 At-the-Market Financing Facility On October 18, 2019, the Company entered into the Sale Agreement with Jefferies, pursuant to which the Company may, from time to time, sell shares of common stock, having an aggregate offering price of up to $30.0 million through Jefferies, as the Company’s sales agent. The shares will be offered and sold by the Company pursuant to its previously filed and currently effective Registration Statement on Form S-3, as amended (Reg. No. 333-211489) (the “Shelf Registration”). Any sales of common stock pursuant to the Sales Agreement will be made by methods deemed to be an “at-the-market offering” as defined in Rule 415 promulgated under the Securities Act. Jefferies will use commercially reasonable efforts to sell the shares from time to time, based on the instructions of the Company. The Company will pay Jefferies a commission rate of three percent (3%) of the gross proceeds from the sales of shares of Common Stock sold pursuant to the Sale Agreement. Under the Sale Agreement, the Company is not required to use the full available amount authorized and it may, by giving notice as specified in the Sale Agreement, terminate the Sale Agreement at any time During the three months ended June 30, 2020, the Company raised approximately $1.3 million in gross proceeds via sale of 891,944 shares of Common Stock. The Company incurred $0.1 million of related costs that offset the proceeds. At June 30, 2020, there remained approximately $27.0 million of availability to sell shares through the Jefferies ATM. Securities Purchase Agreement On January 7, 2020, the Company and Eagle entered into the Eagle SPA, pursuant to which the Company issued and sold to Eagle 10,000,000 shares of common stock, at a price of $2.00 per share. The Eagle SPA provides that Eagle will, subject to certain conditions, make an additional payment of $20 million upon the occurrence of a milestone event, which is defined as the earlier of ( i) achievement of the April 2019 - Registered Offering In April 2019, the Company completed an underwritten registered offering (the “Offering”) of 8,000,000 shares of its common stock at a price of $1.50 per share. The total net proceeds of the Offering were $11.3 million after deducting underwriter’s discounts and before expenses related to the Offering. As part of the Offering, the investors received warrants to purchase up to 8,000,000 shares of the Company’s Common Stock at an exercise price of $2.00 per share (the “April 2019 Warrants”). The Warrants participate with common stock on a one-for-one basis for distribution dividends or other assets of the Company. Exchange Agreements On May 20, 2020, the Company entered into exchange agreements with holders (the “Holders”) of the April 2019 Warrants. The April 2019 Warrants were offered and issued pursuant to the Company’s Shelf Registration. Pursuant to exchange agreements (the “Share Exchange Agreements”) with Holders of the April 2019 Warrants to purchase 5,833,333 shares of Common Stock in the aggregate, the Company issued an aggregate of 2,406,250 shares of common stock (the “Exchange Shares”) in exchange for such April 2019 Warrants. Concurrently therewith, each such Holder executed and delivered to the Company a leak-out agreement(a “Share Leak-Out Agreement”) that contained trading restrictions with respect to the Exchange Shares, which (i) for the first 90 days, prohibit any sales of Exchange Shares, (ii) for the subsequent 90 days, limit sales of Exchange Shares on any day to 2.5% of that day’s trading volume of Common Stock, and (iii) prohibit new short positions or short sales on Common Stock for the combined 180 day period. The Company also entered into an exchange agreement (the “Warrant Exchange Agreement”) with another Holder of April 2019 Warrants to purchase 2,166,667 shares of Common Stock in the aggregate. Pursuant to the Warrant Exchange Agreement, the Company issued such Holder a new warrant (the “May 2020 Warrant”) to purchase the same number of shares of Common Stock. The May 2020 Warrant has the same expiration date, April 2, 2024, as the April 2019 Warrants, but has an exercise price of $1.80 and does not include the price protection, anti-dilution provisions or other restrictions on Company action from the April 2019 Warrants. Concurrently therewith, such Holder executed and delivered to the Company a leak-out agreement that contained trading restrictions on sales of Common Stock issued upon exercise of the May 2020 Warrant that are substantially similar to the restrictions on Exchange Shares in the Share Leak-Out Agreement, provided that the leak-out restrictions will only apply to the first 893,750 shares of Common Stock issued pursuant to the May 2020 Warrant. The April 2019 Warrants were remeasured as of May 20, 2020, before the exchange, using the Monte Carlo pricing simulation resulting in a fair value of approximately $7.3 million, and the change in fair value from March 31, 2020 to the fair value before the exchange of approximately $3.7 million was recorded as an expense component of other income (expense) within the condensed consolidated statement of operations. The key assumptions in applying the Monte Carlo simulation model were as follows: $1.70 stock price, 73% volatility, 3.87 years remaining term, 0.28% risk free rate and the probability of fundamental transactions occurring. The change in fair value of the April 2019 Warrants for the three months ended June 30, 2019 was $2.9 million and recorded as a component of other income (expense) within the condensed consolidated statement of operations. At May 20, 2020, the fair value of the 2,406,250 shares issued under the Share Exchange Agreements was approximately $3.4 million and resulted in a gain on exchange of approximately $1.9 million. The exercise price of the May 2020 Warrant is subject to adjustment upon the occurrence of specific events, including stock dividends, stock splits, combinations and reclassifications of the Company’s Common Stock. The Company determined that the May 2020 Warrant should be recorded as a derivative liability on the condensed consolidated balance sheet due to the May 2020 Warrant’s contractual provisions requiring issuance of registered common shares upon exercise. At May 20, 2020, the May 2020 Warrant was recorded at the fair value of $1.7 million as determined using the Black Scholes model and the change in fair value before and after the exchange of $0.3 million was recorded as a gain on warrant exchange as a component of other income (expense) within the condensed consolidated statement of operations. The key assumptions in applying the Black Scholes model were as follows: $1.64 stock price, 73% volatility, 3.87 years remaining term, 0.27% risk free rate and 7% discount for lack of marketability. The change in fair value of May 2020 Warrant from May 20, 2020 through June 30, 2020 of $0.4 million income was recorded as a component of other income (expense) within the condensed consolidated statement of operations.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9. 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. On April 1, 2020, the Company amended the Clinical Research Funding and Drug Supply Agreement dated October 9, 2018, with PanCAN, to enroll individuals diagnosed with pancreatic cancer in a platform style clinical research study. Stage 1 of the study was initiated in the fourth quarter of fiscal year 2020. As of June 30, 2020, after taking into consideration amounts already paid, the remaining expense to the Company is approximately $6.8 million, subject to enrollment adjustments, and is expected to be incurred over two years and three months. Purchase Commitments The Company has entered into contracts with manufacturers to supply SM-88 and certain related conditioning agents, 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 outstanding future contract obligations structured to match clinical supply needs for our ongoing trials and registration activity are approximately $1.4 million and $3.6 million, respectively, at June 30, 2020. We expect the timing of associated payments to predominately occur through fiscal year 2022. Legal Proceedings The Company is not currently a party to any material legal proceedings and we are not aware of any pending or threatened legal proceeding against us that we believe could have a material adverse effect on us, our business, operating results or financial condition. From time to time, the Company may be involved in litigation, claims or other contingencies arising in the ordinary course of business. The Company would accrue a liability when a loss is considered probable and the amount can be reasonably estimated. When a material loss contingency is reasonably possible but not probable, the Company would not record a liability, but instead would disclose the nature and the amount of the claim, and an estimate of the loss or range of loss, if such estimate can be made. Legal fees are expensed as incurred.

Leases

Leases	3 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	Note 10. Leases The Company leases office space in New York and office space and furniture in New Jersey. The New York rent obligation has been prepaid through August 30, 2020, the end of the lease. The Company does not intend on renewing the New York office lease and has relocated the Company’s headquarters from the New York office to the New Jersey office. The New Jersey leases expire in February 2021. Total Company rent expense, including short term rentals, was approximately $77,000 for the three months ended June 30, 2020 and 2019. Operating lease right-of-use (“ROU”) assets and liabilities on the condensed consolidated balance sheet represents the present value of the remaining lease payments over the remaining lease terms. ROU assets also include any initial direct costs incurred and any lease payments made at or before the lease commencement date, less lease incentives received. Payments for additional monthly fees to cover the Company's share of certain facility expenses are not included in operating lease right-of-use assets and liabilities. The Company uses its incremental borrowing rate of 6.0% to calculate the present value of its lease payments, as the implicit rates in the leases are not readily determinable. As of June 30, 2020, the future minimum lease payments under non-cancellable operating lease agreements for which the Company has recognized operating lease right-of-use assets and lease liabilities were as follows: June 30, 2020 Fiscal year 2021 $ 40,800 Total remaining lease payments 40,800 Less: present value adjustment (800 ) Total operating lease liabilities 40,000 Less: current portion (40,000 ) Operating lease liabilities, net of current portion $ -

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Note 11. Related Party Transactions Legal Faegre Drinker Biddle & Reath (“Faegre Drinker’), formerly Drinker Biddle & Reath LLP (“DBR”) has provided legal services to the Company. The Company’s Chief Legal Officer and Corporate Secretary holds the consulting role “Of Counsel” with the Faegre Drinker. Before joining the Company as Chief Legal Officer and Corporate Secretary, he was a partner at DBR and a non-employee director of the Company. In that capacity he received equity compensation payable to non-employee directors generally under the Company’s Amended and Restated 2016 Stock Option Plan for Non-Employee Directors (the “2016 Director Plan”) (see Note 12, Equity Incentive Plan) as well as cash compensation payable to non-employee directors generally. Legal fees incurred associated with Faegre Drinker were approximately $235,000 and $152,000 for the three months ended June 30, 2020 and 2019. At June 30, 2020 and March 31, 2020, the Company had approximately $235,000 and $73,000, respectively, in accounts payable and accrued expenses payable to Faegre Drinker.

Equity Incentive Plan

Equity Incentive Plan	3 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity Incentive Plan	Note 12. Equity Incentive Plan Stock Options As of June 30, 2020, there was approximately $5.9 million 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 2.38 years. As of June 30, 2020, there were 3,459,673 shares available for grant under the Company’s 2015 Equity Incentive Plan and 2016 Director Plan. Stock based compensation expense recognized was as follows: Three Months Ended June 30, 2020 2019 General and administrative $ 561,000 $ 955,000 Research and development 508,000 670,000 Total $ 1,069,000 $ 1,625,000 The Company uses the Black-Scholes option pricing model to determine the fair value of stock options granted. 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, non-employees and consultants in the current fiscal period has been based on the term by using the simplified method as allowed under SAB No. 110 and ASU 2018-7. The weighted average assumptions used to determine such values are presented in the following table: June 30, 2020 June 30, 2019 Risk free interest rate 0.22% - 0.40% 1.91% - 2.38% Expected volatility 88.02% - 101.67% 71.65% - 76.22% Expected term (in years) 2.8 - 6.1 2.5 - 6 Dividend yield 0 % 0 % The following is a summary of the status of the Company’s stock options for the three months ended June 30, 2020: Number of Options Weighted Average Exercise Price Outstanding at March 31, 2020 11,815,982 $ 3.43 Granted 2,728,000 $ 1.38 Expired (12,500 ) $ 2.36 Outstanding at June 30, 2020 14,531,482 $ 3.05 Options exercisable at June 30, 2020 8,845,271 $ 3.92 Stock Options Outstanding Stock Options Vested Range of Exercise Price Number Outstanding at June 30, 2020 Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value Number Vested at June 30, 2020 Weighted Average Exercise Price Aggregate Intrinsic Value $0.98 - $8.75 14,531,482 $ 3.05 7.70 $ 115,850 8,845,271 $ 3.92 $ 76,275 The intrinsic value calculated as the excess of the market value as of June 30, 2020 over the exercise price of the options, is $115,850. The market value per share as of June 30, 2020 was $1.33 as reported by the NASDAQ Capital Market.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 13. 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, 2020, the Company’s uncertain tax positions remain unchanged. Due to the full valuation allowance, none of the gross unrecognized tax benefits, if recognized, would affect the effective tax rate at June 30, 2020. 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.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2020
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 consolidated financial statements and related notes contained in our Annual Report on Form 10-K for the year ended March 31, 2020 filed with the Securities and Exchange Commission (the “SEC”) on May 22, 2020 (the “2020 10-K”). The condensed consolidated financial statements have been prepared in accordance with the rules and regulations of 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 Technologies, Inc. and its subsidiaries, Tyme Inc. 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, 2020 included in the Company’s 2020 10-K.
Reclassifications	Reclassifications The Company has reclassified certain prior period amounts to conform to the current period presentation. These reclassifications have no effect on the previously reported net loss or cash flows.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts reported in the Company’s condensed consolidated financial statements for cash, accounts payable, and other current liabilities approximate their respective fair values because of the short-term nature of these accounts. The fair value of the severance payable approximates the carrying value, which represents the present value of future severance payments. The fair value of the derivative liability is discussed in Note 6.
Derivative Warrant Liability	Derivative Warrant Liability Certain freestanding common stock warrants that are related to the issuance of common stock are classified as liabilities and recorded at fair value due to characteristics that require liability accounting, primarily the obligation to issue registered shares of common stock upon notification of exercise or certain price protection provisions. Warrants of this type are subject to re-measurement at each balance sheet date and any change in fair value is recognized as a component of other income (expense) in the condensed consolidated statement of operations. As noted in Note 8, Stockholders’ Equity, the Company classifies a warrant to purchase shares of its common stock as a liability on its condensed consolidated balance sheet if the warrant is a free-standing financial instrument that contains certain price protection features that cause the warrants to be treated as derivatives or requires the issuance of registered common shares upon exercise. Each warrant of this type is initially recorded at fair value on date of grant using the Monte Carlo simulation model or the Black-Sholes model, and is subsequently re-measured to fair value at each subsequent balance sheet date. Changes in fair value of the warrant are recognized as a component of other income (expense) in the consolidated statement of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the exercise or expiration of the warrant. The Company utilizes Level 3 fair value criteria to measure the fair value of the warrants (see Note 6).
Risks and Uncertainties	Risks and Uncertainties The Company is subject to those risks associated with any specialty pharmaceutical company that has substantial expenditures for research and development. There can be no assurance that the Company’s research and development projects will be successful, that products developed will obtain necessary regulatory approval or that any approved product will be commercially viable. In addition, the Company operates in an environment of rapid technological change and is largely dependent on the services of its employees and consultants, as well as third party contractors. Current Economic Conditions In March 2020, the World Health Organization categorized the novel coronavirus (COVID-19) as a pandemic and the President of the United States declared the COVID-19 outbreak a national emergency. The COVID-19 pandemic, and actions taken by governments and others to reduce its spread, including travel restrictions, shutdowns of businesses deemed non-essential, and stay-at-home or similar orders, has negatively impacted the global economy, financial markets, and our industry and has disrupted day-to-day life and business operations. Even as certain restrictions have been lifted and new processes implemented, the Company believes that the current economic conditions are likely to continue to have a negative impact for the foreseeable future, and the extent to which they may impact the Company’s operations, liquidity and financial condition remains uncertain and may be significant.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement
Fair Value Measurements	The carrying amounts reported in the Company’s condensed consolidated financial statements for cash, accounts payable, and other current liabilities approximate their respective fair values because of the short-term nature of these accounts. The fair value of the severance payable approximates the carrying value, which represents the present value of future severance payments. The fair value of the derivative liability is discussed below. Fair value is defined as the price that would be received if selling an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets (Level 1), and the lowest priority to unobservable inputs (Level 3). The Company’s financial assets are classified within the fair value hierarchy based on the lowest level of inputs that is significant to the fair value measurement. The three levels of the fair value hierarchy, and their applicability to the Company’s financial assets, are described below. Level 1 : Unadjusted quoted prices in active markets that are accessible at the measurement date of identical, unrestricted assets. Level 2 : Quoted prices for similar assets, or inputs that are observable, either directly or indirectly, for substantially the full term through corroboration with observable market data. Level 2 includes investments valued at quoted prices adjusted for legal or contractual restrictions specific to the security. Level 3 : Pricing inputs are unobservable for the assets. Level 3 assets include private investments that are supported by little or no market activity. Level 3 valuations are for instruments that are not traded in active markets or are subject to transfer restrictions and may be adjusted to reflect illiquidity and/or non-transferability, with such adjustment generally based on available market evidence. In the absence of such evidence, management’s best estimate is used. An adjustment to the pricing method used within either Level 1 or Level 2 inputs could generate a fair value measurement that effectively falls in a lower level in the hierarchy. The Company had no material re-measurements of fair value with respect to financial assets and liabilities, during the periods presented, other than those assets and liabilities that are measured at fair value on a recurring basis. The fair value of the April 2019 Warrants was determined using a Monte Carlo simulation model and included significant unobservable inputs including volatility and the probability of fundamental transactions occurring (See Note 8 for further discussion of the issuance of common stock from an underwritten registered offering). The fair value of the May 2020 Warrant was determined using the Black Scholes model and included significant unobservable inputs including volatility and discount for lack of marketability. Both models incorporated several observable assumptions at each valuation date including: the price of the Company’s common stock on the date of valuation, the remaining contractual term of the warrant and the risk free interest rate over the term. Transfers are calculated on values as of the transfer date. There were no transfers between Levels 1, 2 and 3 during the three months ended June 30, 2020. The following table details key inputs and assumptions used to estimate the fair value of the May 2020 Warrant as of June 30, 2020 using a Black Scholes model and April 2019 Warrants liability as of March 31, 2020 using the Monte Carlo simulation models: May 2020 Warrant April 2019 Warrants June 30, 2020 March 31, 2020 Stock price $ 1.33 $ 1.10 Volatility 76 % 60 % Remaining term (years) 3.76 4.01 Expected dividend yield — — Risk-free rate 0.22 % 0.33 % Discount for lack of marketability 5.5 % — The Company’s financial instruments measured at fair value on a recurring basis are as follows: Description Total Quoted prices in active markets Significant other observable inputs Significant unobservable inputs (Level 1) (Level 2) (Level 3) June 30, 2020 Warrant liability $ 1,279,799 — — $ 1,279,799 March 31, 2020 Warrant liability $ 3,639,000 — — $ 3,639,000 The following table summarizes activity for liabilities measured at fair value using Level 3 significant unobservable inputs: June 30, 2020 Beginning balance, March 31, 2020 $ 3,639,000 Change in fair value of April 2019 Warrants liability before May 20, 2020 Warrant Exchange 3,661,000 Less: fair value of April 2019 Warrants as of May 20, 2020 (7,300,000 ) Plus: fair value of May 2020 Warrant as of May 20, 2020 1,677,528 Change in fair value of May 2020 Warrant liability from May 20, 2020 to June 30, 2020 (397,729 ) Ending balance $ 1,279,799
Stockholders' Equity	Stockholders’ Equity The following summarizes the common stock warrant activity for the three months ended June 30, 2020: Warrant Shares of Common Stock Weighted Average Exercise Price Outstanding at March 31, 2020 8,937,651 $ 2.31 Granted 2,166,667 1.80 Exchanged (8,000,000 ) 2.00 Outstanding at June 30, 2020 3,104,318 $ 2.77 At each of June 30, 2020 and March 31, 2020, 3,074,551 and 8,907,884, respectively, of common stock purchase warrants relating to securities purchase agreements were outstanding and exercisable. Warrants The Company has warrants to purchase its common stock outstanding as of June 30, 2020, as follows: Issued Classification Warrants Outstanding Exercise Price Expiration December 2015 Equity 446,500 $ 5.00 December 2025 February 2016 Equity 461,384 $ 5.00 February 2026 July 2016 Equity 29,767 $ 5.00 June 2026 May 2020 Liability 2,166,667 $ 1.80 April 2024 At-the-Market Financing Facility On October 18, 2019, the Company entered into the Sale Agreement with Jefferies, pursuant to which the Company may, from time to time, sell shares of common stock, having an aggregate offering price of up to $30.0 million through Jefferies, as the Company’s sales agent. The shares will be offered and sold by the Company pursuant to its previously filed and currently effective Registration Statement on Form S-3, as amended (Reg. No. 333-211489) (the “Shelf Registration”). Any sales of common stock pursuant to the Sales Agreement will be made by methods deemed to be an “at-the-market offering” as defined in Rule 415 promulgated under the Securities Act. Jefferies will use commercially reasonable efforts to sell the shares from time to time, based on the instructions of the Company. The Company will pay Jefferies a commission rate of three percent (3%) of the gross proceeds from the sales of shares of Common Stock sold pursuant to the Sale Agreement. Under the Sale Agreement, the Company is not required to use the full available amount authorized and it may, by giving notice as specified in the Sale Agreement, terminate the Sale Agreement at any time During the three months ended June 30, 2020, the Company raised approximately $1.3 million in gross proceeds via sale of 891,944 shares of Common Stock. The Company incurred $0.1 million of related costs that offset the proceeds. At June 30, 2020, there remained approximately $27.0 million of availability to sell shares through the Jefferies ATM. Securities Purchase Agreement On January 7, 2020, the Company and Eagle entered into the Eagle SPA, pursuant to which the Company issued and sold to Eagle 10,000,000 shares of common stock, at a price of $2.00 per share. The Eagle SPA provides that Eagle will, subject to certain conditions, make an additional payment of $20 million upon the occurrence of a milestone event, which is defined as the earlier of ( i) achievement of the April 2019 - Registered Offering In April 2019, the Company completed an underwritten registered offering (the “Offering”) of 8,000,000 shares of its common stock at a price of $1.50 per share. The total net proceeds of the Offering were $11.3 million after deducting underwriter’s discounts and before expenses related to the Offering. As part of the Offering, the investors received warrants to purchase up to 8,000,000 shares of the Company’s Common Stock at an exercise price of $2.00 per share (the “April 2019 Warrants”). The Warrants participate with common stock on a one-for-one basis for distribution dividends or other assets of the Company. Exchange Agreements On May 20, 2020, the Company entered into exchange agreements with holders (the “Holders”) of the April 2019 Warrants. The April 2019 Warrants were offered and issued pursuant to the Company’s Shelf Registration. Pursuant to exchange agreements (the “Share Exchange Agreements”) with Holders of the April 2019 Warrants to purchase 5,833,333 shares of Common Stock in the aggregate, the Company issued an aggregate of 2,406,250 shares of common stock (the “Exchange Shares”) in exchange for such April 2019 Warrants. Concurrently therewith, each such Holder executed and delivered to the Company a leak-out agreement(a “Share Leak-Out Agreement”) that contained trading restrictions with respect to the Exchange Shares, which (i) for the first 90 days, prohibit any sales of Exchange Shares, (ii) for the subsequent 90 days, limit sales of Exchange Shares on any day to 2.5% of that day’s trading volume of Common Stock, and (iii) prohibit new short positions or short sales on Common Stock for the combined 180 day period. The Company also entered into an exchange agreement (the “Warrant Exchange Agreement”) with another Holder of April 2019 Warrants to purchase 2,166,667 shares of Common Stock in the aggregate. Pursuant to the Warrant Exchange Agreement, the Company issued such Holder a new warrant (the “May 2020 Warrant”) to purchase the same number of shares of Common Stock. The May 2020 Warrant has the same expiration date, April 2, 2024, as the April 2019 Warrants, but has an exercise price of $1.80 and does not include the price protection, anti-dilution provisions or other restrictions on Company action from the April 2019 Warrants. Concurrently therewith, such Holder executed and delivered to the Company a leak-out agreement that contained trading restrictions on sales of Common Stock issued upon exercise of the May 2020 Warrant that are substantially similar to the restrictions on Exchange Shares in the Share Leak-Out Agreement, provided that the leak-out restrictions will only apply to the first 893,750 shares of Common Stock issued pursuant to the May 2020 Warrant. The April 2019 Warrants were remeasured as of May 20, 2020, before the exchange, using the Monte Carlo pricing simulation resulting in a fair value of approximately $7.3 million, and the change in fair value from March 31, 2020 to the fair value before the exchange of approximately $3.7 million was recorded as an expense component of other income (expense) within the condensed consolidated statement of operations. The key assumptions in applying the Monte Carlo simulation model were as follows: $1.70 stock price, 73% volatility, 3.87 years remaining term, 0.28% risk free rate and the probability of fundamental transactions occurring. The change in fair value of the April 2019 Warrants for the three months ended June 30, 2019 was $2.9 million and recorded as a component of other income (expense) within the condensed consolidated statement of operations. At May 20, 2020, the fair value of the 2,406,250 shares issued under the Share Exchange Agreements was approximately $3.4 million and resulted in a gain on exchange of approximately $1.9 million. The exercise price of the May 2020 Warrant is subject to adjustment upon the occurrence of specific events, including stock dividends, stock splits, combinations and reclassifications of the Company’s Common Stock. The Company determined that the May 2020 Warrant should be recorded as a derivative liability on the condensed consolidated balance sheet due to the May 2020 Warrant’s contractual provisions requiring issuance of registered common shares upon exercise. At May 20, 2020, the May 2020 Warrant was recorded at the fair value of $1.7 million as determined using the Black Scholes model and the change in fair value before and after the exchange of $0.3 million was recorded as a gain on warrant exchange as a component of other income (expense) within the condensed consolidated statement of operations. The key assumptions in applying the Black Scholes model were as follows: $1.64 stock price, 73% volatility, 3.87 years remaining term, 0.27% risk free rate and 7% discount for lack of marketability. The change in fair value of May 2020 Warrant from May 20, 2020 through June 30, 2020 of $0.4 million income was recorded as a component of other income (expense) within the condensed consolidated statement of operations.

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	3 Months Ended
	Jun. 30, 2020
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, 2020 2019 Basic and diluted net loss per common share calculation: Net loss $ (8,825,815 ) $ (3,191,986 ) Weighted average common shares outstanding — basic and diluted: 124,582,014 111,862,541 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, 2020 and 2019 have been excluded from the computation of diluted weighted average shares outstanding, as they are anti-dilutive: June 30, 2020 2019 Stock options 14,531,482 11,460,807 Warrants 3,104,318 12,421,172 Total 17,635,800 23,881,979

Accounts Payable and Other Cu_2

Accounts Payable and Other Current Liabilities (Tables)	3 Months Ended
	Jun. 30, 2020
Payables And Accruals [Abstract]
Schedule of Accounts Payable and Other Current Liabilities	Accounts payable (including accounts payable to a related party – see Note 11) and other current liabilities consisted of the following: June 30, 2020 March 31, 2020 Legal $ 457,471 $ 199,671 Consultant and professional services 243,010 109,504 Accounting and auditing 80,883 118,837 Research and development 3,120,631 1,863,355 Board of Directors and Medical Advisory Board Compensation 477,903 484,750 Other 88,724 51,185 Total $ 4,468,622 $ 2,827,302

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Key Inputs and Assumptions to Estimate the Fair Value of Warrant Liability	The following table details key inputs and assumptions used to estimate the fair value of the May 2020 Warrant as of June 30, 2020 using a Black Scholes model and April 2019 Warrants liability as of March 31, 2020 using the Monte Carlo simulation models: May 2020 Warrant April 2019 Warrants June 30, 2020 March 31, 2020 Stock price $ 1.33 $ 1.10 Volatility 76 % 60 % Remaining term (years) 3.76 4.01 Expected dividend yield — — Risk-free rate 0.22 % 0.33 % Discount for lack of marketability 5.5 % —
Summary of Financial Instruments Measured at Fair Value on Recurring Basis	The Company’s financial instruments measured at fair value on a recurring basis are as follows: Description Total Quoted prices in active markets Significant other observable inputs Significant unobservable inputs (Level 1) (Level 2) (Level 3) June 30, 2020 Warrant liability $ 1,279,799 — — $ 1,279,799 March 31, 2020 Warrant liability $ 3,639,000 — — $ 3,639,000
Summary of Activity for Liabilities Measured at Fair Value using Level 3 Significant Unobservable Inputs	The following table summarizes activity for liabilities measured at fair value using Level 3 significant unobservable inputs: June 30, 2020 Beginning balance, March 31, 2020 $ 3,639,000 Change in fair value of April 2019 Warrants liability before May 20, 2020 Warrant Exchange 3,661,000 Less: fair value of April 2019 Warrants as of May 20, 2020 (7,300,000 ) Plus: fair value of May 2020 Warrant as of May 20, 2020 1,677,528 Change in fair value of May 2020 Warrant liability from May 20, 2020 to June 30, 2020 (397,729 ) Ending balance $ 1,279,799

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of Common Stock Warrant Activity	The following summarizes the common stock warrant activity for the three months ended June 30, 2020: Warrant Shares of Common Stock Weighted Average Exercise Price Outstanding at March 31, 2020 8,937,651 $ 2.31 Granted 2,166,667 1.80 Exchanged (8,000,000 ) 2.00 Outstanding at June 30, 2020 3,104,318 $ 2.77
Schedule of Warrants to Purchase Common Stock Outstanding	The Company has warrants to purchase its common stock outstanding as of June 30, 2020, as follows: Issued Classification Warrants Outstanding Exercise Price Expiration December 2015 Equity 446,500 $ 5.00 December 2025 February 2016 Equity 461,384 $ 5.00 February 2026 July 2016 Equity 29,767 $ 5.00 June 2026 May 2020 Liability 2,166,667 $ 1.80 April 2024

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of Future Minimum Lease Payments under Non-Cancellable Operating Lease Agreements	As of June 30, 2020, the future minimum lease payments under non-cancellable operating lease agreements for which the Company has recognized operating lease right-of-use assets and lease liabilities were as follows: June 30, 2020 Fiscal year 2021 $ 40,800 Total remaining lease payments 40,800 Less: present value adjustment (800 ) Total operating lease liabilities 40,000 Less: current portion (40,000 ) Operating lease liabilities, net of current portion $ -

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	3 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Stock based compensation expense	Stock based compensation expense recognized was as follows: Three Months Ended June 30, 2020 2019 General and administrative $ 561,000 $ 955,000 Research and development 508,000 670,000 Total $ 1,069,000 $ 1,625,000
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, 2020 June 30, 2019 Risk free interest rate 0.22% - 0.40% 1.91% - 2.38% Expected volatility 88.02% - 101.67% 71.65% - 76.22% Expected term (in years) 2.8 - 6.1 2.5 - 6 Dividend yield 0 % 0 %
Schedule of Stock Options	The following is a summary of the status of the Company’s stock options for the three months ended June 30, 2020: Number of Options Weighted Average Exercise Price Outstanding at March 31, 2020 11,815,982 $ 3.43 Granted 2,728,000 $ 1.38 Expired (12,500 ) $ 2.36 Outstanding at June 30, 2020 14,531,482 $ 3.05 Options exercisable at June 30, 2020 8,845,271 $ 3.92
Schedule of Stock Option by Exercise Price Range	Stock Options Outstanding Stock Options Vested Range of Exercise Price Number Outstanding at June 30, 2020 Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value Number Vested at June 30, 2020 Weighted Average Exercise Price Aggregate Intrinsic Value $0.98 - $8.75 14,531,482 $ 3.05 7.70 $ 115,850 8,845,271 $ 3.92 $ 76,275

Nature of Business - Additional

Nature of Business - Additional Information (Detail) - USD ($)	Jan. 07, 2020	Apr. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Oct. 18, 2019
Nature Of Business [Line Items]
Proceeds from issuance of common stock and warrants			$ 1,171,586	$ 11,168,773
Net cash used in operating activities			(6,390,060)	(5,602,687)
Net loss			(8,825,815)	$ (3,191,986)
Working capital			16,900,000
Non-cash gain on warrant exchange			2,228,697
Non-cash expense			1,100,000
Non-cash expenses related to change in fair value of warrant liability			3,300,000
Underwriters Public Offering [Member]
Nature Of Business [Line Items]
Proceeds from issuance of common stock and warrants		$ 11,300,000
Underwriters Public Offering [Member] | Common Stock [Member]
Nature Of Business [Line Items]
Number of shares issued upon new issue				8,000,000
Share price (in dollars per share)		$ 1.50
Sale Agreement [Member] | Jefferies [Member]
Nature Of Business [Line Items]
Cash proceeds from private placement			1,300,000
Offering expense			100,000
Available for offering			$ 27,000,000
Number of shares issued upon new issue			891,944
Sale Agreement [Member] | Jefferies [Member] | Maximum [Member]
Nature Of Business [Line Items]
Aggregate offering					$ 30,000,000
Securities Purchase Agreement [Member] | Eagle Pharmaceuticals, Inc [Member]
Nature Of Business [Line Items]
Share price (in dollars per share)	$ 2
Milestone payments upon occurrence of milestone event payable	$ 20,000,000
Milestone payments upon occurrence of milestone event payable in cash	10,000,000
Milestone payments upon occurrence of milestone event payable in shares	$ 10,000,000
Milestone payments upon occurrence of milestone event payable in shares, Percentage of premium over share price	15.00%
Restricted period for Sale of shares description	shares will be restricted from sale until the earlier of three months following the milestone event or the three-year anniversary of the agreement
Securities Purchase Agreement [Member] | Eagle Pharmaceuticals, Inc [Member] | Common Stock [Member]
Nature Of Business [Line Items]
Cash proceeds from private placement	$ 20,000,000
Number of shares issued upon new issue	10,000,000
Share price (in dollars per share)	$ 2

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - Accounting Standards Update 2018-13 [Member]	Jun. 30, 2020
Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Apr. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect	true

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, 2020	Jun. 30, 2019
Basic and diluted net loss per common share calculation:
Net loss	$ (8,825,815)	$ (3,191,986)
Weighted average common shares outstanding — basic and diluted:	124,582,014	111,862,541
Net loss per share of common stock — basic and diluted	$ (0.07)	$ (0.03)

Net Loss Per Common Share - Add

Net Loss Per Common Share - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Apr. 30, 2019
Earnings Per Share [Abstract]
Description of warrants issued	Warrants issued in April 2019, discussed further in Note 8, participated on a one-for-one basis with common stock in the distribution of dividends, if and when declared by the Board of Directors (the “Board”) on the Company’s common stock
Warrants issued for common stock dividends			1
Income allocated to warrants	$ 0	$ 0

Net Loss Per Common Share - S_2

Net Loss Per Common Share - Schedule of Anti-dilutive Shares Outstanding (Detail) - shares	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total	17,635,800	23,881,979
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total	14,531,482	11,460,807
Warrant [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total	3,104,318	12,421,172

Accounts Payable and Other Cu_3

Accounts Payable and Other Current Liabilities - Schedule of Accounts Payable and Other Current Liabilities (Detail) - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Payables And Accruals [Abstract]
Legal	$ 457,471	$ 199,671
Consultant and professional services	243,010	109,504
Accounting and auditing	80,883	118,837
Research and development	3,120,631	1,863,355
Board of Directors and Medical Advisory Board Compensation	477,903	484,750
Other	88,724	51,185
Total	$ 4,468,622	$ 2,827,302

Severance Payable - Additional

Severance Payable - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2019	Mar. 31, 2020
Severance Payable [Line Items]
Salary continuance term	5 years
Reimbursement of health benefits term	3 years
Severance expense		$ 2.5
Discount rate		6.00%
Stock option modification expense		$ 0.4
Severance liability	$ 1.5		$ 1.6
Minimum [Member]
Severance Payable [Line Items]
Post-termination exercise period	3 months
Maximum [Member]
Severance Payable [Line Items]
Post-termination exercise period	5 years

Fair Value of Financial Instrum

Fair Value of Financial Instruments - Schedule of Key Inputs and Assumption to Estimate the Fair Value of Warrant Liability (Detail) - Warrant [Member]	Jun. 30, 2020	Mar. 31, 2020
Stock Price [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Class Of Warrant Or Right [Line Items]
Fair value assumptions	0.0133
Stock Price [Member] | Class Of Warrant Or Right Issued on April 2019 [Member]
Class Of Warrant Or Right [Line Items]
Fair value assumptions		0.0110
Volatility [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Class Of Warrant Or Right [Line Items]
Fair value assumptions	0.76
Volatility [Member] | Class Of Warrant Or Right Issued on April 2019 [Member]
Class Of Warrant Or Right [Line Items]
Fair value assumptions		0.60
Remaining Term [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Class Of Warrant Or Right [Line Items]
Fair value assumptions	3 years 9 months 3 days
Remaining Term [Member] | Class Of Warrant Or Right Issued on April 2019 [Member]
Class Of Warrant Or Right [Line Items]
Fair value assumptions		4 years 3 days
Risk-free Interest Rate [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Class Of Warrant Or Right [Line Items]
Fair value assumptions	0.0022
Risk-free Interest Rate [Member] | Class Of Warrant Or Right Issued on April 2019 [Member]
Class Of Warrant Or Right [Line Items]
Fair value assumptions		0.0033
Discount for Lack of Marketability [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Class Of Warrant Or Right [Line Items]
Fair value assumptions	0.055

Fair Value of Financial Instr_2

Fair Value of Financial Instruments - Summary of Financial Instruments Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Warrant liability	$ 1,279,799	$ 3,639,000
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Warrant liability	$ 1,279,799	$ 3,639,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Activity for Liabilities Measured at Fair Value using Level 3 Significant Unobservable Inputs (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Change in fair value of warrant liability	$ (3,263,271)	$ 2,938,242
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance, March 31, 2020	3,639,000
Ending balance	1,279,799
Level 3 [Member] | Before May 2020 Warrant Exchange [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Change in fair value of warrant liability	3,661,000
Level 3 [Member] | May 20, 2020 Warrants [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Less: Fair value of warrants	(7,300,000)
Level 3 [Member] | May 20, 2020 Warrant [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Add: Fair value of warrants	1,677,528
Level 3 [Member] | May 20, 2020 to June 30, 2020 Warrant [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Change in fair value of warrant liability	$ (397,729)

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Short Term Debt [Line Items]
Remaining insurance note payable	$ 347,450	$ 518,124
Insurance policy maturity period	March 18, 2021
Insurance Note Payable [Member]
Short Term Debt [Line Items]
Principal amount		500,000
Remaining insurance note payable	$ 300,000	$ 500,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Common Stock Warrant Activity (Detail)	3 Months Ended
	Jun. 30, 2020$ / sharesshares
Equity [Abstract]
Warrant Shares of Common Stock, Outstanding at beginning | shares	8,937,651
Warrant Shares of Common Stock, Granted | shares	2,166,667
Warrant Shares of Common Stock, Exchanged | shares	(8,000,000)
Warrant Shares of Common Stock, Outstanding at ending | shares	3,104,318
Weighted Average Exercise Price, Outstanding at beginning | $ / shares	$ 2.31
Weighted Average Exercise Price, Granted | $ / shares	1.80
Weighted Average Exercise Price, Exchanged | $ / shares	2
Weighted Average Exercise Price, Outstanding at ending | $ / shares	$ 2.77

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	May 20, 2020USD ($)$ / sharesshares	Jan. 07, 2020USD ($)$ / sharesshares	Oct. 18, 2019USD ($)	Jun. 30, 2020USD ($)$ / sharesshares	Apr. 30, 2019USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2019USD ($)shares	Mar. 31, 2020shares
Stockholders Equity [Line Items]
Proceeds from issuance of common stock and warrants						$ 1,171,586	$ 11,168,773
Change in fair value of warrant liability						3,263,271	$ (2,938,242)
Gain on warrant exchange						$ 2,228,697
Common Stock [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Stockholders Equity [Line Items]
Exercise price | $ / shares				$ 1.80		$ 1.80
Sale Agreement [Member] | Jefferies [Member]
Stockholders Equity [Line Items]
Payment of commission rate from gross proceeds			3.00%
Number of shares issued upon new issue | shares						891,944
Available for offering				$ 27,000,000		$ 27,000,000
Proceeds from issuance of common stock						1,300,000
Related cost offset the proceeds						$ 100,000
Sale Agreement [Member] | Jefferies [Member] | Maximum [Member]
Stockholders Equity [Line Items]
Aggregate offering			$ 30,000,000
Securities Purchase Agreement [Member] | Eagle Pharmaceuticals, Inc [Member]
Stockholders Equity [Line Items]
Common stock price per share | $ / shares		$ 2
Milestone payments upon occurrence of milestone event payable		$ 20,000,000
Milestone payments upon occurrence of milestone event payable in cash		10,000,000
Milestone payments upon occurrence of milestone event payable in shares		$ 10,000,000
Milestone payments upon occurrence of milestone event payable in shares, Percentage of premium over share price		15.00%
Restricted period for Sale of shares description		shares will be restricted from sale until the earlier of three months following the milestone event or the three-year anniversary of the agreement
Securities Purchase Agreement [Member] | Eagle Pharmaceuticals, Inc [Member] | Common Stock [Member]
Stockholders Equity [Line Items]
Number of shares issued upon new issue | shares		10,000,000
Proceeds from issuance of common stock		$ 20,000,000
Common stock price per share | $ / shares		$ 2
Underwriters Public Offering [Member]
Stockholders Equity [Line Items]
Common stock purchase warrants | shares					8,000,000
Proceeds from issuance of common stock and warrants					$ 11,300,000
Exercise price | $ / shares					$ 2
Warrants issued for common stock dividends					1
Underwriters Public Offering [Member] | Common Stock [Member]
Stockholders Equity [Line Items]
Number of shares issued upon new issue | shares							8,000,000
Common stock price per share | $ / shares					$ 1.50
Underwriters Public Offering [Member] | Maximum [Member]
Stockholders Equity [Line Items]
Number of shares that can be purchased with warrants | shares					8,000,000
Share Exchange Agreements [Member]
Stockholders Equity [Line Items]
Number of shares that can be purchased with warrants | shares	5,833,333
Share leak-out agreement trading restrictions on exchange shares description						trading restrictions with respect to the Exchange Shares, which (i) for the first 90 days, prohibit any sales of Exchange Shares, (ii) for the subsequent 90 days, limit sales of Exchange Shares on any day to 2.5% of that day’s trading volume of Common Stock, and (iii) prohibit new short positions or short sales on Common Stock for the combined 180 day period.
Fair value of warrants	$ 3,400,000
Gain on warrant exchange						$ 1,900,000
Share Exchange Agreements [Member] | Common Stock [Member]
Stockholders Equity [Line Items]
Number of shares issued upon new issue | shares	2,406,250
Warrant Exchange Agreements [Member]
Stockholders Equity [Line Items]
Number of shares that can be purchased with warrants | shares	2,166,667
Exercise price | $ / shares	$ 1.80
Warrants expiration date	Apr. 2, 2024
Number of common stock shares applicable for leak-out restrictions under leak-out agreement | shares	893,750
Fair value of warrants	$ 7,300,000
Warrant Exchange Agreements [Member] | Other Income (Expense) [Member]
Stockholders Equity [Line Items]
Change in fair value of warrant liability	3,700,000			$ (400,000)		$ (2,900,000)
Gain on warrant exchange	300,000
Warrant Exchange Agreements [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Stockholders Equity [Line Items]
Fair value of warrants	$ 1,700,000
Warrant [Member] | Securities Purchase Agreement [Member]
Stockholders Equity [Line Items]
Common stock purchase warrants outstanding and exercisable | shares				3,074,551		3,074,551		8,907,884
Warrant [Member] | Warrant Exchange Agreements [Member] | Stock Price [Member] | Class Of Warrant Or Right Issued on April 2019 [Member]
Stockholders Equity [Line Items]
Fair value assumptions	0.0170
Warrant [Member] | Warrant Exchange Agreements [Member] | Stock Price [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Stockholders Equity [Line Items]
Fair value assumptions	0.0164
Warrant [Member] | Warrant Exchange Agreements [Member] | Volatility [Member] | Class Of Warrant Or Right Issued on April 2019 [Member]
Stockholders Equity [Line Items]
Fair value assumptions	0.73
Warrant [Member] | Warrant Exchange Agreements [Member] | Volatility [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Stockholders Equity [Line Items]
Fair value assumptions	0.73
Warrant [Member] | Warrant Exchange Agreements [Member] | Remaining Term [Member] | Class Of Warrant Or Right Issued on April 2019 [Member]
Stockholders Equity [Line Items]
Fair value assumptions	3 years 10 months 13 days
Warrant [Member] | Warrant Exchange Agreements [Member] | Remaining Term [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Stockholders Equity [Line Items]
Fair value assumptions	3 years 10 months 13 days
Warrant [Member] | Warrant Exchange Agreements [Member] | Risk-free Interest Rate [Member] | Class Of Warrant Or Right Issued on April 2019 [Member]
Stockholders Equity [Line Items]
Fair value assumptions	0.0028
Warrant [Member] | Warrant Exchange Agreements [Member] | Risk-free Interest Rate [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Stockholders Equity [Line Items]
Fair value assumptions	0.0027
Warrant [Member] | Warrant Exchange Agreements [Member] | Discount for Lack of Marketability [Member] | Class Of Warrant Or Right Issued on May 2020 [Member]
Stockholders Equity [Line Items]
Fair value assumptions	0.07

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Warrants to Purchase Common Stock Outstanding (Detail) - $ / shares	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Class Of Warrant Or Right [Line Items]
Warrants Outstanding	3,104,318	8,937,651
Class Of Warrant Or Right Issued on December 2015 [Member] | Common Stock [Member]
Class Of Warrant Or Right [Line Items]
Issued	2015-12
Classification	Equity
Warrants Outstanding	446,500
Exercise Price	$ 5
Expiration	2025-12
Class Of Warrant Or Right Issued on February 2016 [Member] | Common Stock [Member]
Class Of Warrant Or Right [Line Items]
Issued	2016-02
Classification	Equity
Warrants Outstanding	461,384
Exercise Price	$ 5
Expiration	2026-02
Class Of Warrant Or Right Issued on July 2016 [Member] | Common Stock [Member]
Class Of Warrant Or Right [Line Items]
Issued	2016-07
Classification	Equity
Warrants Outstanding	29,767
Exercise Price	$ 5
Expiration	2026-06
Class Of Warrant Or Right Issued on May 2020 [Member] | Common Stock [Member]
Class Of Warrant Or Right [Line Items]
Issued	2020-05
Classification	Liability
Warrants Outstanding	2,166,667
Exercise Price	$ 1.80
Expiration	2024-04

Commitment and Contingencies -

Commitment and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Commitment And Contingencies [Line Items]
Research study expense	$ 4,715,295	$ 2,720,762
Ongoing Clinical Trials [Member]
Commitment And Contingencies [Line Items]
Contractual obligation	1,400,000
Clinical Registration Activity [Member]
Commitment And Contingencies [Line Items]
Contractual obligation	3,600,000
Clinical Research Funding and Drug Supply Agreement [Member] | Pancreatic Cancer Action Network [Member]
Commitment And Contingencies [Line Items]
Research study expense	$ 6,800,000
Research study expense expected to be incurred	2 years 3 months

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Lessee Lease Description [Line Items]
Rent expense	$ 77,000	$ 77,000
Incremental borrowing rate to calculate present value of lease payments	6.00%
New Jersey [Member] | Office Space [Member]
Lessee Lease Description [Line Items]
Operating lease, expiration term	2021-02

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments under Non-Cancellable Operating Lease Agreements (Detail) - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Operating Lease Liabilities Payments Due [Abstract]
Fiscal year 2021	$ 40,800
Total remaining lease payments	40,800
Less: present value adjustment	(800)
Total operating lease liabilities	40,000
Less: current portion	$ (40,049)	$ (54,661)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - Faegre Drinker Biddle & Reath (“Faegre Drinker") [Member] - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Related Party Transaction [Line Items]
Legal fees	$ 235,000	$ 152,000
Accounts payable and accrued expenses payable	$ 235,000		$ 73,000

Equity Incentive Plan - Additio

Equity Incentive Plan - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 5,900,000
Unrecognized compensation expense recognition period	2 years 4 months 17 days
2015 Equity Incentive Plan and 2016 Director Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grants | shares	3,459,673
Equity Incentive Plan 2015 and 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value, options	$ 115,850
Share price (in dollars per share) | $ / shares	$ 1.33

Equity Incentive Plan - Allocat

Equity Incentive Plan - Allocation of Share Based Compensation (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total allocated compensation expense	$ 1,069,000	$ 1,625,000
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total allocated compensation expense	561,000	955,000
Research and development expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total allocated compensation expense	$ 508,000	$ 670,000

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, 2020	Jun. 30, 2019
Summary Of Stock Option Activities [Line Items]
Dividend yield	0.00%	0.00%
Minimum [Member]
Summary Of Stock Option Activities [Line Items]
Risk free interest rate	0.22%	1.91%
Expected volatility	88.02%	71.65%
Expected term (in years)	2 years 9 months 18 days	2 years 6 months
Maximum [Member]
Summary Of Stock Option Activities [Line Items]
Risk free interest rate	0.40%	2.38%
Expected volatility	101.67%	76.22%
Expected term (in years)	6 years 1 month 6 days	6 years

Equity Incentive Plan - Sched_2

Equity Incentive Plan - Schedule of Stock Options (Detail)	3 Months Ended
	Jun. 30, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning | shares	11,815,982
Granted | shares	2,728,000
Expired | shares	(12,500)
Outstanding at ending | shares	14,531,482
Options exercisable | shares	8,845,271
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding at beginning | $ / shares	$ 3.43
Granted | $ / shares	1.38
Expired | $ / shares	2.36
Outstanding at ending | $ / shares	3.05
Options exercisable | $ / shares	$ 3.92

Equity Incentive Plan - Sched_3

Equity Incentive Plan - Schedule of Stock Option by Exercise Price Range (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Stock Options Outstanding
Weighted Average Exercise Price	$ 3.05	$ 3.43
Exercise Price $0.98 - $8.75 [Member]
Stock Options Outstanding
Range of Exercise Price, Lower Limit	0.98
Range of Exercise Price, Upper Limit	$ 8.75
Number Outstanding	14,531,482
Weighted Average Exercise Price	$ 3.05
Weighted Average Remaining Life (Years)	7 years 8 months 12 days
Aggregate Intrinsic Value	$ 115,850
Stock Options Vested
Stock Options Vested	8,845,271
Weighted Average Exercise Price	$ 3.92
Aggregate Intrinsic Value	$ 76,275