Quotient (QTNTQ) 10-Q 8 Aug 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2017	Aug. 04, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	QTNT
Entity Registrant Name	Quotient Ltd
Entity Central Index Key	1,596,946
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		37,668,125

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 13,008	$ 4,754
Short-term investments	27,661	16,057
Trade accounts receivable, net	2,800	2,556
Inventories	14,810	13,636
Prepaid expenses and other current assets	4,682	3,629
Total current assets	62,961	40,632
Cash reserve account	5,040	5,040
Property and equipment, net	70,062	63,530
Intangible assets, net	784	769
Total assets	138,847	109,971
Current liabilities:
Accounts payable	10,098	10,782
Accrued compensation and benefits	2,846	3,641
Accrued expenses and other current liabilities	13,398	13,509
Current portion of lease incentive	441	422
Current portion of capital lease obligation	1,445	1,374
Total current liabilities	28,228	29,728
Long-term debt	82,150	80,704
Lease incentive, less current portion	772	844
Capital lease obligation, less current portion	153	174
Defined benefit pension plan obligation	5,535	5,337
Total liabilities	134,376	134,062
Commitments and contingencies
Shareholders' equity (deficit)
Additional paid in capital	17,170	15,885
Accumulated other comprehensive loss	(17,051)	(19,292)
Accumulated deficit	(213,537)	(193,301)
Total shareholders' equity (deficit)	4,471	(24,091)
Total liabilities and shareholders' equity (deficit)	138,847	109,971
7% Cumulative Redeemable Preference Shares [Member]
Current liabilities:
Preferred stock value	17,538	17,275
Ordinary Shares [Member]
Shareholders' equity (deficit)
Common stock value	$ 217,889	$ 172,617

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017
Common stock, par value
Common stock, shares issued	37,667,965	29,567,698
Common stock, shares outstanding	37,667,965	29,567,698
7% Cumulative Redeemable Preference Shares [Member]
Dividend percentage	7.00%	7.00%

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Revenue:
Product sales	$ 6,226	$ 5,717
Other revenues	600
Total revenue	6,826	5,717
Cost of revenue	(2,832)	(3,091)
Gross profit	3,994	2,626
Operating expenses:
Sales and marketing	(1,682)	(1,257)
Research and development, net of government grants	(12,673)	(11,801)
General and administrative expense:
Compensation expense in respect of share options and management equity incentives	(1,285)	(898)
Other general and administrative expenses	(5,260)	(5,048)
Total general and administrative expense	(6,545)	(5,946)
Total operating expense	(20,900)	(19,004)
Operating loss	(16,906)	(16,378)
Other income (expense):
Interest expense, net	(4,210)	(1,171)
Other, net	880	1,314
Other income (expense), net	(3,330)	143
Loss before income taxes	(20,236)	(16,235)
Net loss	(20,236)	(16,235)
Other comprehensive income (loss):
Change in fair value of effective portion of foreign currency cash flow hedges	345	(263)
Unrealized gain on short-term investments	38
Foreign currency gain (loss)	1,815	(3,308)
Provision for pension benefit obligation	43	41
Other comprehensive income (loss), net	2,241	(3,530)
Comprehensive loss	(17,995)	(19,765)
Net loss available to ordinary shareholders - basic and diluted	$ (20,236)	$ (16,235)
Loss per share - basic and diluted	$ (0.55)	$ (0.64)
Weighted-average shares outstanding - basic and diluted	36,767,544	25,410,598

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) - 3 months ended Jun. 30, 2017 - USD ($) $ in Thousands	Total	Ordinary Shares [Member]	Additional paid in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Beginning balance at Mar. 31, 2017	$ (24,091)	$ 172,617	$ 15,885	$ (19,292)	$ (193,301)
Beginning balance, Shares at Mar. 31, 2017	29,567,698	29,567,698
Issue of shares, net of issue costs, Amount	$ 45,167	$ 45,167
Issue of shares, net of issue costs, Shares		8,050,000
Issue of shares upon exercise of incentive share options and vesting of RSU's, Amount	105	$ 105
Issue of shares upon exercise of incentive share options and vesting of RSU's, Shares		50,267
Net loss	(20,236)				(20,236)
Change in fair value of effective portion of foreign currency cash flow hedges	345			345
Unrealized gain on short-term investments	38			38
Foreign currency gain (loss) on:
Long-term investment nature intra- entity balances	495			495
Retranslation of foreign entities	1,320			1,320
Provision for pension benefit obligation	43			43
Other comprehensive income (loss), net	2,241			2,241
Stock-based compensation	1,285		1,285
Ending balance at Jun. 30, 2017	$ 4,471	$ 217,889	$ 17,170	$ (17,051)	$ (213,537)
Ending balance, Shares at Jun. 30, 2017	37,667,965	37,667,965

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) (Parenthetical) $ in Thousands	3 Months Ended
	Jun. 30, 2017USD ($)
Statement Of Stockholders Equity [Abstract]
Issue of Shares, Issue Costs	$ 235

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
OPERATING ACTIVITIES:
Net loss	$ (20,236)	$ (16,235)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	2,464	2,286
Share-based compensation	1,285	898
Amortization of lease incentive	(109)	(109)
Swiss pension obligation	172	185
Amortization of deferred debt issue costs	1,446	228
Accrued preference share dividends	263	263
Net change in assets and liabilities:
Trade accounts receivable, net	(170)	(204)
Inventories	(608)	(560)
Accounts payable and accrued liabilities	(2,005)	1,406
Accrued compensation and benefits	(837)	(152)
Other assets	(811)	(1,247)
Net cash used in operating activities	(19,146)	(13,241)
INVESTING ACTIVITIES:
Increase in short-term investments	(43,000)
Realization of short-term investments	31,434
Purchase of property and equipment	(5,436)	(6,579)
Purchase of intangible assets	(6)
Net cash used in investing activities	(17,008)	(6,579)
FINANCING ACTIVITIES:
Repayment of finance leases	(29)	(37)
Proceeds from issuance of ordinary shares	45,273
Net cash generated from financing activities	45,244	(37)
Effect of exchange rate fluctuations on cash and cash equivalents	(836)	(1,860)
Change in cash and cash equivalents	8,254	(21,717)
Beginning cash and cash equivalents	4,754	44,100
Ending cash and cash equivalents	13,008	22,383
Supplemental cash flow disclosures:
Interest paid	$ 5,068	$ 679

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	Note 1. Description of Business and Basis of Presentation Description of Business The principal activity of Quotient Limited (the “Company”) and its subsidiaries (the “Group”) is the development, manufacture and sale of products for the global transfusion diagnostics market. Products manufactured by the Group are sold to hospitals, blood banking operations and other diagnostics companies worldwide. Basis of Presentation The condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and are unaudited. In accordance with those rules and regulations, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States (“GAAP”) for complete financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. The March 31, 2017 balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. However, the Company believes that the disclosures are adequate to make the information presented not misleading. The financial statements should be read in conjunction with the audited consolidated financial statements at and for the year ended March 31, 2017 included in the Company’s Annual Report on Form 10-K for the year then ended. The results of operations for the quarter ended June 30, 2017 are not necessarily indicative of the results of operations that may be expected for the year ending March 31, 2018 and any future period. The Company has incurred net losses and negative cash flows from operations in each year since it commenced operations in 2007 and had an accumulated deficit of $213.5 million as of June 30, 2017. At June 30, 2017, the Company had available cash holdings and short-term investments of $40.7 million. substantial doubt about its ability to continue as a going concern. The The Company’s Directors are confident in the availability of these funding sources and accordingly have prepared the financial statements on the going concern basis However, there can be no assurance the Company will be able to obtain adequate financing when necessary and the terms of any financings may not be advantageous to the Company and may result in dilution to its shareholders.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. All cash and cash equivalents comprised readily accessible cash balances except for $5.04 million at each of June 30, 2017 and March 31, 2017 held in a cash reserve account pursuant to the indenture governing the 12% Senior Secured Notes due 2023 (the “Secured Notes”) and $319 and $305 at June 30, 2017 and March 31, 2017, respectively, held in a restricted account as security for the property rental obligations of the Company’s Swiss subsidiary. Short-term Investments Short-term investments represent investments in a money-market fund which is valued daily and which has no minimum notice period for withdrawals. The fund is invested in a portfolio of holdings and the creditworthiness requirement for individual investment holdings is a minimum of an A rating from a leading credit-rating agency. The Company records the value of its investment in the fund based on the quoted value of the fund at the balance sheet date. Unrealized gains or losses are recorded in accumulated other comprehensive loss and are transferred to the statement of comprehensive loss when they are realized. Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and are not interest bearing. The Company maintains an allowance for doubtful accounts to reserve for potentially uncollectible trade receivables. Movements in the allowance for doubtful accounts are recorded in General and administrative expenses. The Company reviews its trade receivables to identify specific customers with known disputes or collectability issues. In addition, the Company maintains an allowance for all other receivables not included in the specific reserve by applying specific rates of projected uncollectible receivables to the various aging categories. In determining these percentages, the Company analyzes its historical collection experience, customer credit-worthiness, current economic trends and changes in customer payment terms. Concentration of Credit Risks and Other Uncertainties The carrying amounts for financial instruments consisting of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value due to their short maturities. Derivative instruments, consisting of foreign exchange contracts, and short-term investments are stated at their estimated fair values, based on quoted market prices for the same or similar instruments. The counterparties to the foreign exchange contracts consist of large financial institutions of high credit standing. The short-term investments are invested in a fund which is invested in a portfolio of holdings and the creditworthiness requirement for individual investment holdings is a minimum of an A rating from a leading credit-rating agency. The Company’s main financial institutions for banking operations hold all of the Company’s cash and cash equivalents as of June 30, 2017 and at March 31, 2017. The Company’s accounts receivable are derived from net revenue to customers and distributors located in the United States and other countries. The Company performs credit evaluations of its customers’ financial condition. The Company provides reserves for potential credit losses but has not experienced significant losses to date. There was one customer whose accounts receivable balance represented 10% or more of total accounts receivable, net, as of June 30, 2017 and March 31, 2017. This customer represented 50% and 59% of the accounts receivable balances as of June 30, 2017 and March 31, 2017, respectively. The Company currently sells products through its direct sales force and through third-party distributors. There was one customer that accounted for 10% or more of total product sales for the quarters ended June 30, 2017 and June 30, 2016. This customer represented 65% of total product sales for the quarter ended June 30, 2017 and 59% for the quarter ended June 30, 2016. Fair Value of Financial Instruments The Company defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company’s valuation techniques used to measure fair value maximized the use of observable inputs and minimized the use of unobservable inputs. The fair value hierarchy is based on the following three levels of inputs: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. See Note 6, “Commitment and Contingencies,” for information and related disclosures regarding the Company’s fair value measurements. Inventory Inventory is stated at the lower of standard cost (which approximates actual cost) or market, with cost determined on the first-in-first-out method. Accordingly, allocation of fixed production overheads to conversion costs is based on normal capacity of production. Abnormal amounts of idle facility expense, freight, handling costs and spoilage are expensed as incurred and not included in overhead. No stock-based compensation cost was included in inventory as of June 30, 2017 and March 31, 2017. Property and Equipment Property, equipment and leasehold improvements are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed on a straight-line basis over the estimated useful lives of the related assets as follows: • Land—not depreciated. • Plant, machinery and equipment—4 to 25 years; • Leasehold improvements—the shorter of the lease term or the estimated useful life of the asset. Repairs and maintenance expenditures, which are not considered improvements and do not extend the useful life of property and equipment, are expensed as incurred. Intangible Assets and Goodwill Intangible assets related to product licenses are recorded at cost, less accumulated amortization. Intangible assets related to technology and other intangible assets acquired in acquisitions are recorded at fair value at the date of acquisition, less accumulated amortization. Intangible assets are amortized over their estimated useful lives, on a straight-line basis as follows: Customer relationships—5 years Brands associated with acquired cell lines—40 years Product licenses—10 years Other intangibles assets—7 years The Company reviews its intangible assets for impairment and conducts an impairment review when events or circumstances indicate the carrying value of a long-lived asset may be impaired by estimating the future undiscounted cash flows to be derived from an asset to assess whether or not a potential impairment exists. No impairment losses have been recorded in either of the quarters ended June 30, 2017 or June 30, 2016. Revenue Recognition The Company recognizes revenue from product sales when there is persuasive evidence that an arrangement exists, delivery has occurred, the price is fixed or determinable and collectability is reasonably assured. Customers have no right of return except in the case of damaged goods. The Company has not experienced any significant returns of its products. Shipping and handling costs are expensed as incurred and included in cost of product sales. In those cases where the Company bills shipping and handling costs to customers, the amounts billed are classified as revenue. The Company enters into revenue arrangements that may consist of multiple deliverables of its products and services. The terms of these arrangements may include non-refundable upfront payments, milestone payments, other contingent payments and royalties on any product sales derived on collaboration. Up-front fees received in connection with collaborative agreements are deferred upon receipts, are not considered a separate unit of accounting and are recognized as revenues over the relevant performance periods. Revenues related to research and development services included in a collaboration agreement are recognized as research and services are performed over the related performance periods for each contract. A payment that is contingent upon the achievement of a substantive milestone is recognized in its entirety in the period in which the milestone is achieved. Pursuant to an Umbrella Supply Agreement with Ortho in June 2013, the Company executed a product attachment relating to the development of a range of rare antisera products. This product attachment was amended in August 2016. During the year ended March 31, 2017, the Company recognized the milestones of $1,300 related to the completion of the CE marking of the products for use on Ortho’s automation platforms and $800 related to the receipt of FDA approval of certain of the rare antisera products. The Company earned a milestone of $600 related to the receipt of FDA approval of the rare antisera products in the quarter ended June 30, 2017 and, under the terms of the amended product attachment, the Company is entitled to receive a milestone payment of $1,500 upon the updating of the FDA approvals to cover use of the products on Ortho’s automation platforms. In January 2015, the Company entered into a supply and distribution agreement with Ortho related to the commercialization and distribution of certain MosaiQ The Company has concluded that as each of these milestones require significant levels of development work to be undertaken and there was no certainty at the start of the projects that the development work would be successful, these milestones are substantive and should be accounted for under the milestone method of revenue recognition. Research and Development Research and development expenses consist of costs incurred for company-sponsored and collaborative research and development activities. These costs include direct and research-related overhead expenses. The Company expenses research and development costs, including the expenses for research under collaborative agreements, as such costs are incurred. Where government grants or tax credits are available, the income concerned is included as a credit against the related expense. Stock-Based Compensation Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company’s Consolidated Statements of Comprehensive Loss. In determining fair value of the stock-based compensation payments, the Company uses the Black–Scholes model and a single option award approach for share options and a barrier option pricing model for multi-year performance based restricted share units (“MRSUs”), both of which require the input of subjective assumptions. These assumptions include: the fair value of the underlying share, estimating the length of time employees will retain their awards before exercising them (expected term), the estimated volatility of the Company’s ordinary shares price over the expected term (expected volatility), risk-free interest rate (interest rate), expected dividends and the number of shares subject to awards that will ultimately not complete their vesting requirements (forfeitures). Pension Obligation The Company maintains a pension plan covering employees in Switzerland pursuant to the requirements of Swiss pension law. Certain aspects of the plan require that it be accounted for as a defined benefit plan pursuant to Accounting Standards Codification Topic, 715 Compensation – Retirement Benefits The Company uses an actuarial valuation to determine its pension benefit costs and credits. The amounts calculated depend on a variety of key assumptions, including discount rates and expected return on plan assets. Details of the assumptions used to determine the net funded status are set out in the notes to the Company’s March 31, 2017 financial statements. The Company’s pension plan assets are assigned to their respective levels in the fair value hierarchy in accordance with the valuation principles described in the ‘‘Fair Value of Financial Instruments’’ section above.

Intangible Assets

Intangible Assets	3 Months Ended
	Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 3. Intangible Assets June 30, 2017 Gross Carrying Amount Accumulated Amortization Net Amount Weighted Average Remaining Useful Customer relationships $ 2,560 $ (2,560 ) $ — — Brands associated with acquired cell lines 528 (130 ) 398 30.1 years Product licenses 752 (366 ) 386 5.1 years Other intangibles 166 (166 ) — — Total $ 4,006 $ (3,222 ) $ 784 17.8 years March 31, 2017 Gross Carrying Amount Accumulated Amortization Net Amount Weighted Average Remaining Useful Customer relationships $ 2,458 $ (2,458 ) $ — — Brands associated with acquired cell lines 507 (121 ) 386 30.4 years Product licenses 716 (333 ) 383 5.4 years Other intangibles 160 (160 ) — — Total $ 3,841 $ (3,072 ) $ 769 17.9 years

Debt

Debt	3 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt	Note 4. Debt Long-term debt comprises: June 30, 2017 March 31, 2017 Total debt $ 84,000 $ 84,000 Less current portion — — Long-term debt $ 84,000 $ 84,000 Deferred debt costs, net of amortization (1,850 ) (3,296 ) $ 82,150 $ 80,704 The Company’s debt at June 30, 2017 comprises the Secured Notes issued on October 14, 2016. On that date, the Company completed the private placement of up to $120 million aggregate principal amount of the Secured Notes and entered into an indenture governing the Secured Notes with the guarantors party thereto and U.S. Bank National Association, a national banking association, as trustee and collateral agent. The obligations of the Company under the indenture and the Secured Notes are unconditionally guaranteed on a secured basis by the guarantors, which include all the Company’s subsidiaries, and the indenture governing the Secured Notes contains customary events of default. The Company and its subsidiaries must also comply with certain customary affirmative and negative covenants, including a requirement to maintain six-months of interest in a cash reserve account maintained with the collateral agent. The Company issued $84 million aggregate principal amount of the Secured Notes on October 14, 2016 and, so long as no event of default has occurred, the Company will issue an additional $36 million aggregate principal amount of the Secured Notes upon public announcement of field trial results for the MosaiQ IH Microarray that demonstrates greater than 99% concordance for the detection of blood group antigens and greater than 95% concordance for the detection of blood group antibodies when compared to predicate technologies for a pre-defined set of blood group antigens and antibodies. The Company paid $5 million of the net proceeds into the cash reserve account maintained with the collateral agent under the terms of the indenture. Interest on the Secured Notes accrues at a rate of 12% per annum and is payable semi-annually on April 15 and October 15 of each year commencing on April 15, 2017. Commencing on April 15, 2019, the Company will also pay an installment of principal of the Secured Notes on each April 15 and October 15 until October 15, 2023 pursuant to a fixed amortization schedule. In connection with the offering on October 14, 2016, the Company entered into royalty rights agreements, pursuant to which the Company sold to the note purchasers in the offering, the right to receive an aggregate payment equal to 2.0% of the aggregate net sales of MosaiQ instruments and consumables made in the donor testing market in the United States and the European Union. The royalty will be payable beginning on the date that the Company or its affiliates enters into a contract for the sale of instruments or consumables in the donor testing market in the European Union or the United States and will end on the last day of the calendar quarter in which the eighth anniversary of the first contract date occurs Debt” At June 30, 2017, the outstanding debt was repayable as follows: Within 1 year $ — Between 1 and 2 years 6,720 Between 2 and 3 years 13,440 Between 3 and 4 years 15,960 Between 4 and 5 years 17,640 After 5 years 30,240 Total debt $ 84,000

Consolidated Balance Sheet Deta

Consolidated Balance Sheet Detail	3 Months Ended
	Jun. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Consolidated Balance Sheet Detail	Note 5. Consolidated Balance Sheet Detail Inventory The following table summarizes inventory by category for the dates presented: June 30, 2017 March 31, 2017 Raw materials $ 9,025 $ 8,993 Work in progress 4,505 3,260 Finished goods 1,280 1,383 Total inventories $ 14,810 $ 13,636 Inventory at June 30, 2017, included $7,552 of raw materials, $2,288 of work in progress and $245 of finished goods related to the MosaiQ Property and equipment The following table summarizes property and equipment by categories for the dates presented: June 30, 2017 March 31, 2017 Land $ 1,339 $ 1,286 Plant and equipment 47,515 44,797 Leasehold improvements 39,290 32,343 Total property and equipment 88,144 78,426 Less: accumulated depreciation (18,082 ) (14,896 ) Total property and equipment, net $ 70,062 $ 63,530 Depreciation expenses were $2,443 and $2,263 in the quarters ended June 30, 2017 and June 30, 2016, respectively. Accrued compensation and benefits Accrued compensation and benefits consist of the following: June 30, 2017 March 31, 2017 Salary and related benefits $ 750 $ 403 Accrued vacation 510 413 Accrued payroll taxes 974 325 Accrued incentive payments 612 2,500 Total accrued compensation and benefits $ 2,846 $ 3,641 Accrued expenses and other current liabilities Accrued expenses and other current liabilities consist of the following: June 30, 2017 March 31, 2017 Accrued legal and professional fees $ 436 $ 449 Accrued interest 2,085 4,640 Goods received not invoiced 1,766 932 Accrued capital expenditure 2,985 1,387 Accrued development expenditure 3,890 4,187 Other accrued expenses 2,236 1,914 Total accrued expenses and other current liabilities $ 13,398 $ 13,509

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 6. Commitments and Contingencies Government grant In 2008, the Company was awarded research and development grant funding from Scottish Enterprise amounting to £1,791, for the development of MosaiQ. The total grant claimed to June 30, 2017 is £1,790. The Company updates Scottish Enterprise periodically with the status of the project and, while the terms of the grant award provide for full repayment of the grant in certain circumstances, the Company does not consider that any repayment is likely. Hedging arrangements The Company’s subsidiary in the United Kingdom (“UK”) has entered into three contracts to sell $500 and purchase pounds sterling at £1:$1.2918 in each calendar month from July 2017 through September 2017, six contracts to sell $500 in each calendar month from October 2017 through March 2018 at £1:$1.2655 and three contracts to sell $500 and purchase pounds sterling at £1:$1.2990 in each calendar month from April 2018 through June 2018 as hedges of its U.S. dollar denominated revenues. Fair value measurements The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy: June 30, 2017 Level 1 Level 2 Level 3 Total Assets: Pension plan assets (1) $ — $ 8,881 $ — $ 8,881 Short-term investments (2) 27,661 — — 27,661 Foreign currency forward contracts (3) — 93 — 93 Total assets measured at fair value $ 27,661 $ 8,974 $ — $ 36,635 June 30, 2017 Level 1 Level 2 Level 3 Total Liabilities: Foreign currency forward contracts (3) $ — $ — $ — $ — Total liabilities measured at fair value $ — $ — $ — $ — March 31, 2017 Level 1 Level 2 Level 3 Total Assets: Pension plan assets (1) $ — $ 7,981 $ — $ 7,981 Short-term investments (2) 16,057 — — 16,057 Total assets measured at fair value $ 16,057 $ 7,981 $ — $ 24,038 March 31, 2017 Level 1 Level 2 Level 3 Total Foreign currency forward contracts (3) $ — $ 252 $ — $ 252 Total liabilities measured at fair value $ — $ 252 $ — $ 252 (1) The fair value of pension plan assets has been determined as the surrender value of the portfolio of active insured employees held within the Swiss Life collective investment fund. See Note 9, “Defined Benefit Pension Plans”. (2) The fair value of short-term investments has been determined based on the quoted value of the units held in the money market fund at the balance sheet date. See Note 2, “Summary of Significant Accounting Policies – Short-term Investments”. (3) The fair value of foreign currency forward contracts has been determined by calculating the present value of future cash flows, estimated using market-based observable inputs including forward and spot exchange rates and interest rate curves obtained from third party market price quotations.

Ordinary and Preference Shares

Ordinary and Preference Shares	3 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Ordinary and Preference Shares	Note 7. Ordinary and Preference Shares Ordinary shares The Company’s issued and outstanding ordinary shares were as follows: Shares Issued and Outstanding June 30, 2017 March 31, 2017 Par value Ordinary shares 37,667,965 29,567,698 $ — Total 37,667,965 29,567,698 $ — Preference shares The Company’s issued and outstanding preference shares consist of the following: Shares Issued and Outstanding Liquidation amount per share June 30, 2017 March 31, 2017 June 30, 2017 March 31, 2017 7% Cumulative Redeemable Preference shares 666,665 666,665 $ 26.31 $ 25.92 Total 666,665 666,665

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Jun. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	Note 8. Share-Based Compensation The Company records share-based compensation expense in respect of options, multi-year performance based restricted share units (“MRSUs”) and restricted share units (“RSUs”) issued under its share incentive plans. Share-based compensation expense amounted to $1,285 and $898 in the quarters ended June 30, 2017 and June 30, 2016, respectively. Share option activity The following table summarizes share option activity: Number of Share Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual (Months) Outstanding — March 31, 2017 1,948,917 $ 8.04 90 Granted 305,525 7.58 120 Exercised (32,000 ) 3.29 — Forfeited (2,810 ) 12.06 — Outstanding — June 30, 2017 2,219,632 $ 8.04 92 Exercisable —June 30, 2017 1,405,536 $ 7.34 81 The closing price of the Company’s ordinary shares on The NASDAQ Global Market at June 30, 2017 was $7.36. The following table summarizes the options granted in the current financial year with their exercise prices, the fair value of ordinary shares as of the applicable grant date, and the intrinsic value: Grant Date Number of Options Granted Exercise Price Ordinary Shares Fair Value Per Share at Grant Date Per Share Intrinsic Value of Options May 24, 2017 305,525 $ 7.58 $ 7.58 $ 4.62 Determining the fair value of share incentive awards The fair value of each share incentive grant was determined by the Company using the Black-Scholes options pricing model. Assumptions used in the option pricing models are discussed below. Each of these inputs is subjective and generally requires significant judgment to determine. Expected volatility . The expected volatility was based on the historical share volatilities of a number of the Company’s publicly listed peers over a period equal to the expected terms of the options as the Company did not have a sufficient trading history to use the volatility of its own ordinary shares. Fair value of ordinary shares. The fair value of the ordinary shares is based upon the closing price of the Company’s shares on The NASDAQ Global Market on the last trading day prior to the date of grant. Risk-Free Interest Rate. The risk-free interest rate is based on the US Treasury 10-year bond yield in effect at the time of grant. Expected term. The expected term is determined after giving consideration to the contractual terms of the share-based awards, graded vesting schedules ranging from one to three years and expectations of future employee behavior as influenced by changes to the terms of its share-based awards. Expected dividend. According to the terms of the awards, the exercise price of the options is adjusted to take into account any dividends paid. As a result dividends are not required as an input to the model, as these reductions in the share price are offset by a corresponding reduction in exercise price. A summary of the assumptions applicable to the share options issued in the current financial year is as follows: May 24, 2017 Risk-free interest rate 2.28 % Expected lives (years) 6 Volatility 66.10 % Dividend yield — Grant date fair value (per share) $ 7.58 Number granted 305,525 A summary of the RSUs and MRSUs in issue at June 30, 2017 is as follows: Number of RSUs or MRSUs Outstanding Weighted Average Remaining Vesting Period (Months) Period in which the target must be achieved RSUs subject to time based vesting 293,841 16 N/A RSUs subject to MosaiQ milestone vesting 290,000 N/A N/A MRSUs with vesting based on $60 share price 114,500 N/A Apr - Dec 2018 MRSUs with vesting based on $40 share price 127,000 N/A Apr - Dec 2018 MRSUs with vesting based on $22 share price 166,000 N/A Apr - Dec 2019 At June 30, 2017, 293,841

Defined Benefit Pension Plans

Defined Benefit Pension Plans	3 Months Ended
	Jun. 30, 2017
Defined Benefit Plan Net Periodic Benefit Cost [Abstract]
Defined Benefit Pension Plans	Note 9. Defined Benefit Pension Plans The Company’s Swiss subsidiary has a fully insured pension plan managed by Swiss Life. The costs of this plan were: Quarter ended June 30, 2017 June 30, 2016 Employer service cost $ 393 $ 344 Interest cost 27 10 Expected return on plan assets (28 ) (15 ) Amortization of prior service credit (4 ) — Amortization of net loss 46 44 Net pension cost for the year $ 434 $ 383 The employer contributions for the quarters ended June 30, 2017 and 2016 were $262 and $196, respectively. The estimated employer contributions for the fiscal year ending March 31, 2018 are $1,031.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Net Loss Per Share	Note 10. Net Loss Per Share In accordance with Accounting Standards Codification Topic 260 “ Earnings Per Share The following table sets forth the computation of basic and diluted earnings per ordinary share. Quarter ended June 30, 2017 2016 Numerator: Net loss $ (20,236 ) $ (16,235 ) Net loss available to ordinary shareholders - basic and diluted $ (20,236 ) $ (16,235 ) Denominator: Weighted-average shares outstanding - basic and diluted 36,767,544 25,410,598 Loss per share - basic and diluted $ (0.55 ) $ (0.64 ) The following table sets out the numbers of ordinary shares excluded from the above computation of earnings per share at June 30, 2017 and June 30, 2016 as their inclusion would have been anti-dilutive. June 30, 2017 June 30, 2016 Ordinary shares issuable on exercise of options to purchase ordinary shares 2,219,632 1,802,538 Restricted share units awarded, including the multi-year performance related restricted share units 991,341 579,495 Ordinary shares issuable on exercise of warrants at $16.14 per share 111,525 111,525 Ordinary shares issuable on exercise of warrants at $9.37 per share 64,000 64,000 Ordinary shares issuable on exercise of pre-funded warrants at $0.01 per share — 850,000 3,386,498 3,407,558

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. All cash and cash equivalents comprised readily accessible cash balances except for $5.04 million at each of June 30, 2017 and March 31, 2017 held in a cash reserve account pursuant to the indenture governing the 12% Senior Secured Notes due 2023 (the “Secured Notes”) and $319 and $305 at June 30, 2017 and March 31, 2017, respectively, held in a restricted account as security for the property rental obligations of the Company’s Swiss subsidiary.
Short-term Investments	Short-term Investments Short-term investments represent investments in a money-market fund which is valued daily and which has no minimum notice period for withdrawals. The fund is invested in a portfolio of holdings and the creditworthiness requirement for individual investment holdings is a minimum of an A rating from a leading credit-rating agency. The Company records the value of its investment in the fund based on the quoted value of the fund at the balance sheet date. Unrealized gains or losses are recorded in accumulated other comprehensive loss and are transferred to the statement of comprehensive loss when they are realized.
Trade Accounts Receivable	Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and are not interest bearing. The Company maintains an allowance for doubtful accounts to reserve for potentially uncollectible trade receivables. Movements in the allowance for doubtful accounts are recorded in General and administrative expenses. The Company reviews its trade receivables to identify specific customers with known disputes or collectability issues. In addition, the Company maintains an allowance for all other receivables not included in the specific reserve by applying specific rates of projected uncollectible receivables to the various aging categories. In determining these percentages, the Company analyzes its historical collection experience, customer credit-worthiness, current economic trends and changes in customer payment terms.
Concentration of Credit Risks and Other Uncertainties	Concentration of Credit Risks and Other Uncertainties The carrying amounts for financial instruments consisting of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value due to their short maturities. Derivative instruments, consisting of foreign exchange contracts, and short-term investments are stated at their estimated fair values, based on quoted market prices for the same or similar instruments. The counterparties to the foreign exchange contracts consist of large financial institutions of high credit standing. The short-term investments are invested in a fund which is invested in a portfolio of holdings and the creditworthiness requirement for individual investment holdings is a minimum of an A rating from a leading credit-rating agency. The Company’s main financial institutions for banking operations hold all of the Company’s cash and cash equivalents as of June 30, 2017 and at March 31, 2017. The Company’s accounts receivable are derived from net revenue to customers and distributors located in the United States and other countries. The Company performs credit evaluations of its customers’ financial condition. The Company provides reserves for potential credit losses but has not experienced significant losses to date. There was one customer whose accounts receivable balance represented 10% or more of total accounts receivable, net, as of June 30, 2017 and March 31, 2017. This customer represented 50% and 59% of the accounts receivable balances as of June 30, 2017 and March 31, 2017, respectively. The Company currently sells products through its direct sales force and through third-party distributors. There was one customer that accounted for 10% or more of total product sales for the quarters ended June 30, 2017 and June 30, 2016. This customer represented 65% of total product sales for the quarter ended June 30, 2017 and 59% for the quarter ended June 30, 2016.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company’s valuation techniques used to measure fair value maximized the use of observable inputs and minimized the use of unobservable inputs. The fair value hierarchy is based on the following three levels of inputs: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. See Note 6, “Commitment and Contingencies,” for information and related disclosures regarding the Company’s fair value measurements.
Inventory	Inventory Inventory is stated at the lower of standard cost (which approximates actual cost) or market, with cost determined on the first-in-first-out method. Accordingly, allocation of fixed production overheads to conversion costs is based on normal capacity of production. Abnormal amounts of idle facility expense, freight, handling costs and spoilage are expensed as incurred and not included in overhead. No stock-based compensation cost was included in inventory as of June 30, 2017 and March 31, 2017.
Property and Equipment	Property and Equipment Property, equipment and leasehold improvements are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed on a straight-line basis over the estimated useful lives of the related assets as follows: • Land—not depreciated. • Plant, machinery and equipment—4 to 25 years; • Leasehold improvements—the shorter of the lease term or the estimated useful life of the asset. Repairs and maintenance expenditures, which are not considered improvements and do not extend the useful life of property and equipment, are expensed as incurred.
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible assets related to product licenses are recorded at cost, less accumulated amortization. Intangible assets related to technology and other intangible assets acquired in acquisitions are recorded at fair value at the date of acquisition, less accumulated amortization. Intangible assets are amortized over their estimated useful lives, on a straight-line basis as follows: Customer relationships—5 years Brands associated with acquired cell lines—40 years Product licenses—10 years Other intangibles assets—7 years The Company reviews its intangible assets for impairment and conducts an impairment review when events or circumstances indicate the carrying value of a long-lived asset may be impaired by estimating the future undiscounted cash flows to be derived from an asset to assess whether or not a potential impairment exists. No impairment losses have been recorded in either of the quarters ended June 30, 2017 or June 30, 2016.
Revenue Recognition	Revenue Recognition The Company recognizes revenue from product sales when there is persuasive evidence that an arrangement exists, delivery has occurred, the price is fixed or determinable and collectability is reasonably assured. Customers have no right of return except in the case of damaged goods. The Company has not experienced any significant returns of its products. Shipping and handling costs are expensed as incurred and included in cost of product sales. In those cases where the Company bills shipping and handling costs to customers, the amounts billed are classified as revenue. The Company enters into revenue arrangements that may consist of multiple deliverables of its products and services. The terms of these arrangements may include non-refundable upfront payments, milestone payments, other contingent payments and royalties on any product sales derived on collaboration. Up-front fees received in connection with collaborative agreements are deferred upon receipts, are not considered a separate unit of accounting and are recognized as revenues over the relevant performance periods. Revenues related to research and development services included in a collaboration agreement are recognized as research and services are performed over the related performance periods for each contract. A payment that is contingent upon the achievement of a substantive milestone is recognized in its entirety in the period in which the milestone is achieved. Pursuant to an Umbrella Supply Agreement with Ortho in June 2013, the Company executed a product attachment relating to the development of a range of rare antisera products. This product attachment was amended in August 2016. During the year ended March 31, 2017, the Company recognized the milestones of $1,300 related to the completion of the CE marking of the products for use on Ortho’s automation platforms and $800 related to the receipt of FDA approval of certain of the rare antisera products. The Company earned a milestone of $600 related to the receipt of FDA approval of the rare antisera products in the quarter ended June 30, 2017 and, under the terms of the amended product attachment, the Company is entitled to receive a milestone payment of $1,500 upon the updating of the FDA approvals to cover use of the products on Ortho’s automation platforms. In January 2015, the Company entered into a supply and distribution agreement with Ortho related to the commercialization and distribution of certain MosaiQ The Company has concluded that as each of these milestones require significant levels of development work to be undertaken and there was no certainty at the start of the projects that the development work would be successful, these milestones are substantive and should be accounted for under the milestone method of revenue recognition.
Research and Development	Research and Development Research and development expenses consist of costs incurred for company-sponsored and collaborative research and development activities. These costs include direct and research-related overhead expenses. The Company expenses research and development costs, including the expenses for research under collaborative agreements, as such costs are incurred. Where government grants or tax credits are available, the income concerned is included as a credit against the related expense.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company’s Consolidated Statements of Comprehensive Loss. In determining fair value of the stock-based compensation payments, the Company uses the Black–Scholes model and a single option award approach for share options and a barrier option pricing model for multi-year performance based restricted share units (“MRSUs”), both of which require the input of subjective assumptions. These assumptions include: the fair value of the underlying share, estimating the length of time employees will retain their awards before exercising them (expected term), the estimated volatility of the Company’s ordinary shares price over the expected term (expected volatility), risk-free interest rate (interest rate), expected dividends and the number of shares subject to awards that will ultimately not complete their vesting requirements (forfeitures).
Pension Obligation	Pension Obligation The Company maintains a pension plan covering employees in Switzerland pursuant to the requirements of Swiss pension law. Certain aspects of the plan require that it be accounted for as a defined benefit plan pursuant to Accounting Standards Codification Topic, 715 Compensation – Retirement Benefits The Company uses an actuarial valuation to determine its pension benefit costs and credits. The amounts calculated depend on a variety of key assumptions, including discount rates and expected return on plan assets. Details of the assumptions used to determine the net funded status are set out in the notes to the Company’s March 31, 2017 financial statements. The Company’s pension plan assets are assigned to their respective levels in the fair value hierarchy in accordance with the valuation principles described in the ‘‘Fair Value of Financial Instruments’’ section above.

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	June 30, 2017 Gross Carrying Amount Accumulated Amortization Net Amount Weighted Average Remaining Useful Customer relationships $ 2,560 $ (2,560 ) $ — — Brands associated with acquired cell lines 528 (130 ) 398 30.1 years Product licenses 752 (366 ) 386 5.1 years Other intangibles 166 (166 ) — — Total $ 4,006 $ (3,222 ) $ 784 17.8 years March 31, 2017 Gross Carrying Amount Accumulated Amortization Net Amount Weighted Average Remaining Useful Customer relationships $ 2,458 $ (2,458 ) $ — — Brands associated with acquired cell lines 507 (121 ) 386 30.4 years Product licenses 716 (333 ) 383 5.4 years Other intangibles 160 (160 ) — — Total $ 3,841 $ (3,072 ) $ 769 17.9 years

Debt (Tables)

Debt (Tables)	3 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt comprises: June 30, 2017 March 31, 2017 Total debt $ 84,000 $ 84,000 Less current portion — — Long-term debt $ 84,000 $ 84,000 Deferred debt costs, net of amortization (1,850 ) (3,296 ) $ 82,150 $ 80,704
Schedule of Outstanding Debt	At June 30, 2017, the outstanding debt was repayable as follows: Within 1 year $ — Between 1 and 2 years 6,720 Between 2 and 3 years 13,440 Between 3 and 4 years 15,960 Between 4 and 5 years 17,640 After 5 years 30,240 Total debt $ 84,000

Consolidated Balance Sheet De21

Consolidated Balance Sheet Detail (Tables)	3 Months Ended
	Jun. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Inventory	The following table summarizes inventory by category for the dates presented: June 30, 2017 March 31, 2017 Raw materials $ 9,025 $ 8,993 Work in progress 4,505 3,260 Finished goods 1,280 1,383 Total inventories $ 14,810 $ 13,636
Summary of Property and Equipment	The following table summarizes property and equipment by categories for the dates presented: June 30, 2017 March 31, 2017 Land $ 1,339 $ 1,286 Plant and equipment 47,515 44,797 Leasehold improvements 39,290 32,343 Total property and equipment 88,144 78,426 Less: accumulated depreciation (18,082 ) (14,896 ) Total property and equipment, net $ 70,062 $ 63,530
Summary of Accrued Compensation and Benefits	Accrued compensation and benefits consist of the following: June 30, 2017 March 31, 2017 Salary and related benefits $ 750 $ 403 Accrued vacation 510 413 Accrued payroll taxes 974 325 Accrued incentive payments 612 2,500 Total accrued compensation and benefits $ 2,846 $ 3,641
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: June 30, 2017 March 31, 2017 Accrued legal and professional fees $ 436 $ 449 Accrued interest 2,085 4,640 Goods received not invoiced 1,766 932 Accrued capital expenditure 2,985 1,387 Accrued development expenditure 3,890 4,187 Other accrued expenses 2,236 1,914 Total accrued expenses and other current liabilities $ 13,398 $ 13,509

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Jun. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	Fair value measurements The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy: June 30, 2017 Level 1 Level 2 Level 3 Total Assets: Pension plan assets (1) $ — $ 8,881 $ — $ 8,881 Short-term investments (2) 27,661 — — 27,661 Foreign currency forward contracts (3) — 93 — 93 Total assets measured at fair value $ 27,661 $ 8,974 $ — $ 36,635 June 30, 2017 Level 1 Level 2 Level 3 Total Liabilities: Foreign currency forward contracts (3) $ — $ — $ — $ — Total liabilities measured at fair value $ — $ — $ — $ — March 31, 2017 Level 1 Level 2 Level 3 Total Assets: Pension plan assets (1) $ — $ 7,981 $ — $ 7,981 Short-term investments (2) 16,057 — — 16,057 Total assets measured at fair value $ 16,057 $ 7,981 $ — $ 24,038 March 31, 2017 Level 1 Level 2 Level 3 Total Foreign currency forward contracts (3) $ — $ 252 $ — $ 252 Total liabilities measured at fair value $ — $ 252 $ — $ 252 (1) The fair value of pension plan assets has been determined as the surrender value of the portfolio of active insured employees held within the Swiss Life collective investment fund. See Note 9, “Defined Benefit Pension Plans”. (2) The fair value of short-term investments has been determined based on the quoted value of the units held in the money market fund at the balance sheet date. See Note 2, “Summary of Significant Accounting Policies – Short-term Investments”. (3) The fair value of foreign currency forward contracts has been determined by calculating the present value of future cash flows, estimated using market-based observable inputs including forward and spot exchange rates and interest rate curves obtained from third party market price quotations.

Ordinary and Preference Shares

Ordinary and Preference Shares (Tables)	3 Months Ended
	Jun. 30, 2017
7% Cumulative Redeemable Preference Shares [Member]
Class Of Stock [Line Items]
Summary of Shares Issued and Outstanding	The Company’s issued and outstanding preference shares consist of the following: Shares Issued and Outstanding Liquidation amount per share June 30, 2017 March 31, 2017 June 30, 2017 March 31, 2017 7% Cumulative Redeemable Preference shares 666,665 666,665 $ 26.31 $ 25.92 Total 666,665 666,665
Ordinary Shares [Member]
Class Of Stock [Line Items]
Summary of Shares Issued and Outstanding	The Company’s issued and outstanding ordinary shares were as follows: Shares Issued and Outstanding June 30, 2017 March 31, 2017 Par value Ordinary shares 37,667,965 29,567,698 $ — Total 37,667,965 29,567,698 $ —

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Jun. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Share Option Activity	The following table summarizes share option activity: Number of Share Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual (Months) Outstanding — March 31, 2017 1,948,917 $ 8.04 90 Granted 305,525 7.58 120 Exercised (32,000 ) 3.29 — Forfeited (2,810 ) 12.06 — Outstanding — June 30, 2017 2,219,632 $ 8.04 92 Exercisable —June 30, 2017 1,405,536 $ 7.34 81
Summary of Share Option Granted, Exercise Price, Fair Value, Intrinsic Value	The following table summarizes the options granted in the current financial year with their exercise prices, the fair value of ordinary shares as of the applicable grant date, and the intrinsic value: Grant Date Number of Options Granted Exercise Price Ordinary Shares Fair Value Per Share at Grant Date Per Share Intrinsic Value of Options May 24, 2017 305,525 $ 7.58 $ 7.58 $ 4.62
Summary of Assumptions to Share Options Issued	A summary of the assumptions applicable to the share options issued in the current financial year is as follows: May 24, 2017 Risk-free interest rate 2.28 % Expected lives (years) 6 Volatility 66.10 % Dividend yield — Grant date fair value (per share) $ 7.58 Number granted 305,525
Summary of RSUs and MRSUs	A summary of the RSUs and MRSUs in issue at June 30, 2017 is as follows: Number of RSUs or MRSUs Outstanding Weighted Average Remaining Vesting Period (Months) Period in which the target must be achieved RSUs subject to time based vesting 293,841 16 N/A RSUs subject to MosaiQ milestone vesting 290,000 N/A N/A MRSUs with vesting based on $60 share price 114,500 N/A Apr - Dec 2018 MRSUs with vesting based on $40 share price 127,000 N/A Apr - Dec 2018 MRSUs with vesting based on $22 share price 166,000 N/A Apr - Dec 2019

Defined Benefit Pension Plans (

Defined Benefit Pension Plans (Tables)	3 Months Ended
	Jun. 30, 2017
Defined Benefit Plan Net Periodic Benefit Cost [Abstract]
Schedule of Net Pension Costs	The Company’s Swiss subsidiary has a fully insured pension plan managed by Swiss Life. The costs of this plan were: Quarter ended June 30, 2017 June 30, 2016 Employer service cost $ 393 $ 344 Interest cost 27 10 Expected return on plan assets (28 ) (15 ) Amortization of prior service credit (4 ) — Amortization of net loss 46 44 Net pension cost for the year $ 434 $ 383

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Computation of Earnings Per Share Basic and Diluted	The following table sets forth the computation of basic and diluted earnings per ordinary share. Quarter ended June 30, 2017 2016 Numerator: Net loss $ (20,236 ) $ (16,235 ) Net loss available to ordinary shareholders - basic and diluted $ (20,236 ) $ (16,235 ) Denominator: Weighted-average shares outstanding - basic and diluted 36,767,544 25,410,598 Loss per share - basic and diluted $ (0.55 ) $ (0.64 )
Summary of Number of Ordinary Shares Excluded from Computation of Earnings Per Share	The following table sets out the numbers of ordinary shares excluded from the above computation of earnings per share at June 30, 2017 and June 30, 2016 as their inclusion would have been anti-dilutive. June 30, 2017 June 30, 2016 Ordinary shares issuable on exercise of options to purchase ordinary shares 2,219,632 1,802,538 Restricted share units awarded, including the multi-year performance related restricted share units 991,341 579,495 Ordinary shares issuable on exercise of warrants at $16.14 per share 111,525 111,525 Ordinary shares issuable on exercise of warrants at $9.37 per share 64,000 64,000 Ordinary shares issuable on exercise of pre-funded warrants at $0.01 per share — 850,000 3,386,498 3,407,558

Description of Business and B27

Description of Business and Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Accounting Policies [Abstract]
Accumulated deficit	$ (213,537)	$ (193,301)
Cash holdings and short-term investments	$ 40,700

Summary of Significant Accoun28

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)Customer	Jun. 30, 2016USD ($)Customer	Mar. 31, 2017USD ($)Customer
Significant Accounting Policies [Line Items]
Restricted cash	$ 319,000		$ 305,000
Number of customer represent 10% or more of accounts receivable | Customer	1		1
Number of customer represent 10% or more of product sales | Customer	1	1
Stock-based compensation cost included in inventory	$ 0		$ 0
Impairment losses	0	$ 0
Amendment Products [Member]
Significant Accounting Policies [Line Items]
Milestone amount receivable upon fulfillment of achievement	1,500,000
Ortho's [Member]
Significant Accounting Policies [Line Items]
Milestone revenue recognized			1,300,000
Rare Antisera Products [Member]
Significant Accounting Policies [Line Items]
Milestone revenue recognized	$ 600,000		$ 800,000
Customer Relationships [Member]
Significant Accounting Policies [Line Items]
Intangible assets amortization over estimated useful life	5 years
Brands Associated with Acquired Cell Lines [Member]
Significant Accounting Policies [Line Items]
Intangible assets amortization over estimated useful life	40 years
Product Licenses [Member]
Significant Accounting Policies [Line Items]
Intangible assets amortization over estimated useful life	10 years
Other Intangibles Assets [Member]
Significant Accounting Policies [Line Items]
Intangible assets amortization over estimated useful life	7 years
Minimum [Member]
Significant Accounting Policies [Line Items]
Plant, machinery and equipment useful life	4 years
Maximum [Member]
Significant Accounting Policies [Line Items]
Plant, machinery and equipment useful life	25 years
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Significant Accounting Policies [Line Items]
Concentration risk percentage	50.00%		59.00%
Customer Concentration Risk [Member] | Sales [Member]
Significant Accounting Policies [Line Items]
Concentration risk percentage	65.00%	59.00%
Senior Secured Notes Due 2023 [Member]
Significant Accounting Policies [Line Items]
Payment to cash reserve account held by collateral agent	$ 5,040,000
Debt instrument, interest rate	12.00%

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,006	$ 3,841
Accumulated Amortization	(3,222)	(3,072)
Net Carrying Amount	$ 784	$ 769
Weighted Average Remaining Useful Life	17 years 9 months 18 days	17 years 10 months 24 days
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,560	$ 2,458
Accumulated Amortization	(2,560)	(2,458)
Brands Associated with Acquired Cell Lines [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	528	507
Accumulated Amortization	(130)	(121)
Net Carrying Amount	$ 398	$ 386
Weighted Average Remaining Useful Life	30 years 1 month 6 days	30 years 4 months 24 days
Product Licenses [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 752	$ 716
Accumulated Amortization	(366)	(333)
Net Carrying Amount	$ 386	$ 383
Weighted Average Remaining Useful Life	5 years 1 month 6 days	5 years 4 months 24 days
Other Intangibles [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 166	$ 160
Accumulated Amortization	$ (166)	$ (160)

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Debt Disclosure [Abstract]
Total debt	$ 84,000	$ 84,000
Long-term debt	84,000	84,000
Deferred debt costs, net of amortization	(1,850)	(3,296)
Long-term debt, less current portion	$ 82,150	$ 80,704

Debt - Additional Information (

Debt - Additional Information (Detail) - Secured Notes [Member] - USD ($)	Oct. 14, 2016	Jun. 30, 2017
Debt Instrument [Line Items]
Debt instrument, issuance date		Oct. 14, 2016
Aggregate principal amount of notes issued	$ 84,000,000
Aggregate principal additional amount of notes to be issued	36,000,000
Payment to cash reserve account held by collateral agent	$ 5,000,000
Debt instrument, unused/additional borrowing capacity		The Company issued $84 million aggregate principal amount of the Secured Notes on October 14, 2016 and, so long as no event of default has occurred, the Company will issue an additional $36 million aggregate principal amount of the Secured Notes upon public announcement of field trial results for the MosaiQ IH Microarray that demonstrates greater than 99% concordance for the detection of blood group antigens and greater than 95% concordance for the detection of blood group antibodies when compared to predicate technologies for a pre-defined set of blood group antigens and antibodies.
Debt instrument date of first required payment, interest	Apr. 15, 2017
Debt instrument date of first required payment, principal	Apr. 15, 2019
Debt instrument, interest rate		12.00%
MosaiQ [Member]
Debt Instrument [Line Items]
Debt instrument subscribers right to receive payment as percentage of net MosaiQ sales	2.00%
Maximum [Member]
Debt Instrument [Line Items]
Aggregate principal amount of notes issued	$ 120,000,000

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Long-term Debt, Rolling Maturity [Abstract]
Between 1 and 2 years	$ 6,720
Between 2 and 3 years	13,440
Between 3 and 4 years	15,960
Between 4 and 5 years	17,640
After 5 years	30,240
Total debt	$ 84,000	$ 84,000

Consolidated Balance Sheet De33

Consolidated Balance Sheet Detail - Summary of Inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 9,025	$ 8,993
Work in progress	4,505	3,260
Finished goods	1,280	1,383
Total inventories	$ 14,810	$ 13,636

Consolidated Balance Sheet De34

Consolidated Balance Sheet Detail - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017
Raw materials	$ 9,025		$ 8,993
Work in progress	4,505		3,260
Finished goods	1,280		1,383
Depreciation expenses	2,443	$ 2,263
MosaiQ Project [Member]
Raw materials	7,552		7,659
Work in progress	2,288		$ 1,415
Finished goods	$ 245

Consolidated Balance Sheet De35

Consolidated Balance Sheet Detail - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Property Plant And Equipment [Line Items]
Total property and equipment	$ 88,144	$ 78,426
Less: accumulated depreciation	(18,082)	(14,896)
Total property and equipment, net	70,062	63,530
Land [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	1,339	1,286
Plant and Equipment [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	47,515	44,797
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	$ 39,290	$ 32,343

Consolidated Balance Sheet De36

Consolidated Balance Sheet Detail - Summary of Accrued Compensation and Benefits (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Compensation Related Costs [Abstract]
Salary and related benefits	$ 750	$ 403
Accrued vacation	510	413
Accrued payroll taxes	974	325
Accrued incentive payments	612	2,500
Total accrued compensation and benefits	$ 2,846	$ 3,641

Consolidated Balance Sheet De37

Consolidated Balance Sheet Detail - Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Payables And Accruals [Abstract]
Accrued legal and professional fees	$ 436	$ 449
Accrued interest	2,085	4,640
Goods received not invoiced	1,766	932
Accrued capital expenditure	2,985	1,387
Accrued development expenditure	3,890	4,187
Other accrued expenses	2,236	1,914
Total accrued expenses and other current liabilities	$ 13,398	$ 13,509

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) £ in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2017GBP (£)	Dec. 31, 2008GBP (£)	Jun. 30, 2017USD ($)Contracts$ / £
Commitments And Contingencies [Line Items]
Research and development grant funding from Scottish Enterprise | £		£ 1,791
Claims from grant | £	£ 1,790
April 2018 through June 2018 [Member]
Commitments And Contingencies [Line Items]
Number of forward exchange contracts | Contracts			3
Forward exchange contracts sold | $			$ 500
Forward exchange contracts exchange rate pounds sterling to US dollar | $ / £			1.2990
July 2017 through September 2017 [Member]
Commitments And Contingencies [Line Items]
Number of forward exchange contracts | Contracts			3
Forward exchange contracts sold | $			$ 500
Forward exchange contracts exchange rate pounds sterling to US dollar | $ / £			1.2918
October 2017 through March 2018 [Member]
Commitments And Contingencies [Line Items]
Number of forward exchange contracts | Contracts			6
Forward exchange contracts sold | $			$ 500
Forward exchange contracts exchange rate pounds sterling to US dollar | $ / £			1.2655

Commitments and Contingencies39

Commitments and Contingencies - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Recurring [Member] - USD ($) $ in Thousands		Jun. 30, 2017	Mar. 31, 2017
Assets:
Total assets measured at fair value		$ 36,635	$ 24,038
Liabilities:
Total liabilities measured at fair value			252
Foreign currency forward contracts [Member]
Assets:
Total assets measured at fair value	[1]	93
Liabilities:
Total liabilities measured at fair value	[1]		252
Pension plan assets [Member]
Assets:
Total assets measured at fair value	[2]	8,881	7,981
Short-term Investments [Member]
Assets:
Total assets measured at fair value	[3]	27,661	16,057
Level 1 [Member]
Assets:
Total assets measured at fair value		27,661	16,057
Level 1 [Member] | Short-term Investments [Member]
Assets:
Total assets measured at fair value	[3]	27,661	16,057
Level 2 [Member]
Assets:
Total assets measured at fair value		8,974	7,981
Liabilities:
Total liabilities measured at fair value			252
Level 2 [Member] | Foreign currency forward contracts [Member]
Assets:
Total assets measured at fair value	[1]	93
Liabilities:
Total liabilities measured at fair value	[1]		252
Level 2 [Member] | Pension plan assets [Member]
Assets:
Total assets measured at fair value	[2]	$ 8,881	$ 7,981
[1]	The fair value of foreign currency forward contracts has been determined by calculating the present value of future cash flows, estimated using market-based observable inputs including forward and spot exchange rates and interest rate curves obtained from third party market price quotations.
[2]	The fair value of pension plan assets has been determined as the surrender value of the portfolio of active insured employees held within the Swiss Life collective investment fund. See Note 9, “Defined Benefit Pension Plans”.
[3]	The fair value of short-term investments has been determined based on the quoted value of the units held in the money market fund at the balance sheet date. See Note 2, “Summary of Significant Accounting Policies – Short-term Investments”.

Ordinary and Preference Share40

Ordinary and Preference Shares - Summary of Shares Issued and Outstanding (Detail) - $ / shares	Jun. 30, 2017	Mar. 31, 2017
Class Of Stock [Line Items]
Ordinary shares, shares issued	37,667,965	29,567,698
Ordinary shares, shares outstanding	37,667,965	29,567,698
Ordinary shares, par value
Preference shares, shares issued	666,665	666,665
Preference shares, shares outstanding	666,665	666,665
Ordinary Shares [Member]
Class Of Stock [Line Items]
Ordinary shares, shares issued	37,667,965	29,567,698
Ordinary shares, shares outstanding	37,667,965	29,567,698
Ordinary shares, par value
7% Cumulative Redeemable Preference Shares [Member]
Class Of Stock [Line Items]
Preference shares, shares issued	666,665	666,665
Preference shares, shares outstanding	666,665	666,665
Liquidation amount per share	$ 26.31	$ 25.92

Ordinary and Preference Share41

Ordinary and Preference Shares - Summary of Shares Issued and Outstanding (Parenthetical) (Detail)	3 Months Ended	12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017
7% Cumulative Redeemable Preference Shares [Member]
Class Of Stock [Line Items]
Dividend percentage	7.00%	7.00%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Thousands	May 24, 2017$ / shares	Jun. 30, 2017USD ($)d$ / sharesshares	Jun. 30, 2016USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense | $		$ 1,285	$ 898
Risk-free interest rate, Description		Risk-Free Interest Rate. The risk-free interest rate is based on the US Treasury 10-year bond yield in effect at the time of grant.
Grant date fair value (per share)	$ 7.58
Restricted Stock Units (RSUs) [Member] | Time Based Vesting [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock units outstanding | shares		293,841
Weighted average remaining vesting period		16 months
Restricted Stock Units (RSUs) [Member] | Milestone Vesting [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock units outstanding | shares		290,000
Multi Year Performance Based Restricted Stock Units [Member] | Vesting Based on $22 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock units outstanding | shares		166,000
Consecutive trading days in which price must exceed threshold | d		20
Period in which the target must be achieved, start date		Apr. 1, 2019
Period in which the target must be achieved, end date		Dec. 31, 2019
Grant date fair value (per share)		$ 3.20
Award vesting description		166,000 MRSUs were awarded on May 24, 2017, which will vest if the volume weighted average price of the Company’s ordinary shares exceeds $22 for a continuous twenty day period between April 1, 2019 and December 31, 2019.
Multi Year Performance Based Restricted Stock Units [Member] | Vesting Based on $60 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock units outstanding | shares		114,500
Consecutive trading days in which price must exceed threshold | d		20
Period in which the target must be achieved, start date		Apr. 1, 2018
Period in which the target must be achieved, end date		Dec. 31, 2018
Award vesting description		114,500 MRSUs which will vest between April 1, 2018 and December 31, 2018 if the Company’s ordinary share price exceeds $60 for 20 consecutive days in this period.
Multi Year Performance Based Restricted Stock Units [Member] | Vesting Based on $40 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock units outstanding | shares		127,000
Consecutive trading days in which price must exceed threshold | d		20
Period in which the target must be achieved, start date		Apr. 1, 2018
Period in which the target must be achieved, end date		Dec. 31, 2018
Award vesting description		127,000 MRSUs, which will vest between April 1, 2018 and December 31, 2018 if the Company’s ordinary share price exceeds $40 for 20 consecutive days in this period.
Employee Stock Option [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		1 year
Employee Stock Option [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Ordinary Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Company's closing share price		$ 7.36
Ordinary Shares [Member] | Minimum [Member] | Multi Year Performance Based Restricted Stock Units [Member] | Vesting Based on $22 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average price of shares		22
Ordinary Shares [Member] | Minimum [Member] | Multi Year Performance Based Restricted Stock Units [Member] | Vesting Based on $60 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average price of shares		60
Ordinary Shares [Member] | Minimum [Member] | Multi Year Performance Based Restricted Stock Units [Member] | Vesting Based on $40 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average price of shares		$ 40

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Share Option Activity (Detail) - $ / shares	May 24, 2017	Jun. 30, 2017	Mar. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Share Options Outstanding, Beginning Balance		1,948,917
Number of Share Options Outstanding, Granted	305,525	305,525
Number of Share Options Outstanding, Exercised		(32,000)
Number of Share Options Outstanding, Forfeited		(2,810)
Number of Share Options Outstanding, Ending Balance		2,219,632	1,948,917
Number of Share Options Outstanding, Exercisable		1,405,536
Weighted-Average Exercise Price, Beginning Balance		$ 8.04
Weighted-Average Exercise Price, Granted		7.58
Weighted-Average Exercise Price, Exercised		3.29
Weighted-Average Exercise Price, Forfeited		12.06
Weighted-Average Exercise Price, Ending Balance		8.04	$ 8.04
Weighted-Average Exercise Price, Exercisable		$ 7.34
Weighted-Average Remaining Contractual Life, Outstanding		92 months	90 months
Weighted-Average Remaining Contractual Life, Granted		120 months
Weighted-Average Remaining Contractual Life, Exercisable		81 months

Share-Based Compensation - Su44

Share-Based Compensation - Summary of Share Option Granted, Exercise Price, Fair Value, Intrinsic Value (Detail) - $ / shares	May 24, 2017	Jun. 30, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options Granted	305,525	305,525
Exercise Price		$ 7.58
Ordinary Shares Fair Value Per Share at Grant Date	$ 7.58
May 24, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant Date		May 24, 2017
Number of Options Granted		305,525
Exercise Price		$ 7.58
Ordinary Shares Fair Value Per Share at Grant Date		7.58
Per Share Intrinsic Value of Options		$ 4.62

Share-Based Compensation - Su45

Share-Based Compensation - Summary of Assumptions to Share Options Issued (Detail) - $ / shares	May 24, 2017	Jun. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Risk-free interest rate	2.28%
Expected lives (years)	6 years
Volatility	66.10%
Grant date fair value (per share)	$ 7.58
Number of Share Options Outstanding, Granted	305,525	305,525

Share-Based Compensation - Su46

Share-Based Compensation - Summary of RSUs and MRSUs (Detail)	3 Months Ended
	Jun. 30, 2017shares
Restricted Stock Units (RSUs) [Member] | Time Based Vesting [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of RSUs or MRSUs Outstanding	293,841
Weighted Average Remaining Vesting Period (Months)	16 months
Restricted Stock Units (RSUs) [Member] | Milestone Vesting [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of RSUs or MRSUs Outstanding	290,000
Multi Year Performance Based Restricted Stock Units [Member] | Vesting Based on $60 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of RSUs or MRSUs Outstanding	114,500
Period in which the target must be achieved, start date	Apr. 1, 2018
Period in which the target must be achieved, end date	Dec. 31, 2018
Multi Year Performance Based Restricted Stock Units [Member] | Vesting Based on $40 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of RSUs or MRSUs Outstanding	127,000
Period in which the target must be achieved, start date	Apr. 1, 2018
Period in which the target must be achieved, end date	Dec. 31, 2018
Multi Year Performance Based Restricted Stock Units [Member] | Vesting Based on $22 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of RSUs or MRSUs Outstanding	166,000
Period in which the target must be achieved, start date	Apr. 1, 2019
Period in which the target must be achieved, end date	Dec. 31, 2019

Share-Based Compensation - Su47

Share-Based Compensation - Summary of RSUs and MRSUs (Detail) (Parenthetical) - Multi Year Performance Based Restricted Stock Units [Member] - Minimum [Member] - Ordinary Shares [Member]	Jun. 30, 2017$ / shares
Vesting Based on $60 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average price of shares	$ 60
Vesting Based on $40 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average price of shares	40
Vesting Based on $22 Share Price [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average price of shares	$ 22

Defined Benefit Pension Plans -

Defined Benefit Pension Plans - Schedule of Net Pension Costs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Defined Contribution Pension And Other Postretirement Plans Disclosure [Abstract]
Employer service cost	$ 393	$ 344
Interest cost	27	10
Expected return on plan assets	(28)	(15)
Amortization of prior service credit	(4)
Amortization of net loss	46	44
Net pension cost for the year	$ 434	$ 383

Defined Benefit Pension Plans49

Defined Benefit Pension Plans - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Contributions paid or to be paid by employer	$ 262	$ 196
Scenario, Forecast [Member]
Defined Contribution Plan Disclosure [Line Items]
Contributions paid or to be paid by employer			$ 1,031

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Earnings Per Share Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Net loss	$ (20,236)	$ (16,235)
Net loss available to ordinary shareholders - basic and diluted	$ (20,236)	$ (16,235)
Denominator:
Weighted-average shares outstanding - basic and diluted	36,767,544	25,410,598
Loss per share - basic and diluted	$ (0.55)	$ (0.64)

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Number of Ordinary Shares Excluded from Computation of Earnings Per Share (Detail) - shares	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share	3,386,498	3,407,558
Exercise Of Options To Purchase Ordinary Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share	2,219,632	1,802,538
Restricted Share Units Awarded, Including Multi-Year Performance
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share	991,341	579,495
Exercise Of Warrants At $16.14 Per Share
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share	111,525	111,525
Exercise Of Warrants At $9.37 Per Share
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share	64,000	64,000
Exercise Of Pre-Funded Warrants At $0.01 Per Share
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share		850,000

Net Loss Per Share - Summary 52

Net Loss Per Share - Summary of Number of Ordinary Shares Excluded from Computation of Earnings Per Share (Detail) (Parenthetical) - $ / shares	Jun. 30, 2017	Jun. 30, 2016
Exercise Of Warrants At $16.14 Per Share
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Exercise price of warrants per share	$ 16.14	$ 16.14
Exercise Of Warrants At $9.37 Per Share
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Exercise price of warrants per share	$ 9.37	9.37
Exercise Of Pre-Funded Warrants At $0.01 Per Share
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Exercise price of warrants per share		$ 0.01