Roivant Sciences (ROIV) 10-K 28 Jun 22 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Mar. 31, 2022	Jun. 21, 2022	Oct. 01, 2021
Document Type	10-K
Amendment Flag	false
Entity Registrant Name	Roivant Sciences Ltd.
Entity Central Index Key	0001635088
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Emerging Growth Company	true
Entity Ex Transition Period	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--03-31
Entity File Number	001-40782
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-1173944
Entity Address, Address Line One	Suite 1, 3rd Floor
Entity Address, Address Line Two	11-12 St. James’s Square
Entity Address, City or Town	London
Entity Address, Postal Zip Code	SW1Y 4LB
Country Region	+44
City Area Code	207
Local Phone Number	400 3347
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Address, Country	GB
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		700,765,918
Document Annual Report	true
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
ICFR Auditor Attestation Flag	false
Entity Public Float			$ 1,115,587,985
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Iselin, New Jersey
Warrant [Member]
Title of 12(b) Security	Redeemable Warrants, each whole warrant exercisable for one Common Share at an exercise price of $11.50 per share
Trading Symbol	ROIVW
Security Exchange Name	NASDAQ
Common Stock [Member]
Title of 12(b) Security	Common Shares, $0.0000000341740141 per share
Trading Symbol	ROIV
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Mar. 31, 2022	Mar. 31, 2021
Current assets:
Cash and cash equivalents		$ 2,060,400	$ 2,055,044
Restricted cash		3,903	77,701
Other current assets		82,220	54,250
Total current assets		2,146,523	2,186,995
Property and equipment, net		25,905	14,749
Operating lease right-of-use assets		61,044	62,279
Restricted cash, net of current portion		9,731	8,931
Investments measured at fair value		325,834	188,978
Long-term investment		0	100,563
Other assets		16,092	27,197
Total assets		2,585,129	2,589,692
Current liabilities:
Accounts payable		34,583	20,550
Accrued expenses		127,531	76,936
Operating lease liabilities		11,398	12,313
Deferred consideration liability		0	100,000
Deferred revenue		10,147	5,918
Other current liabilities		708	3,244
Total current liabilities		184,367	218,961
Liability instruments measured at fair value		44,912	67,893
Operating lease liabilities, noncurrent		62,468	62,384
Long-term debt (includes $177,400 and $150,100 accounted for under the fair value option at March 31, 2022 and 2021, respectively)		210,025	170,280
Deferred Revenue, Noncurrent		13,740	0
Other liabilities		8,183	8,169
Total liabilities		523,695	527,687
Commitments and contingencies (Note 13)
Redeemable noncontrolling interest		22,491	22,491
Shareholders' equity:
Common shares, par value $0.0000000341740141 per share, 7,000,000,000 shares authorized and 694,975,965 and 651,576,293 shares issued and outstanding at March 31, 2022 and 2021, respectively	[1]	0	0
Additional paid-in capital	[1]	4,421,614	3,814,805
Subscription receivable	[1]	0	(100,000)
Accumulated deficit	[1]	(2,763,724)	(1,918,462)
Accumulated other comprehensive income (loss)	[1]	(946)	1,445
Shareholders' equity attributable to Roivant Sciences Ltd.	[1]	1,656,944	1,797,788
Noncontrolling interests	[1]	381,999	241,726
Total shareholders' equity	[1]	2,038,943	2,039,514
Total liabilities, redeemable noncontrolling interest and shareholders' equity		$ 2,585,129	$ 2,589,692
[1]Retroactively restated for the stock subdivision as described in Note 3.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Long term debt accounted under fair value option	$ 177,400	$ 150,100
Common stock, par or stated value per share	$ 0.00	$ 0.00
Common stock, shares authorized	7,000,000,000	7,000,000,000
Common stock, shares issued	694,975,965	651,576,293
Common stock, shares outstanding	694,975,965	651,576,293

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Revenue, net		$ 55,286	$ 23,795
Operating expenses:
Cost of revenues		8,966	2,057
Research and development		483,035	236,626
Acquired in-process research and development		139,894	596,132
General and administrative		775,033	259,878
Total operating expenses		1,406,928	1,094,693
Loss from operations		(1,351,642)	(1,070,898)
Other income (expense):
Change in fair value of investments		87,291	(95,533)
Gain on sale of investment		(443,754)	0
Change in fair value of debt and liability instruments		(3,354)	29,845
Gain on termination of Sumitomo Options		(66,472)	0
Gain on deconsolidation of subsidiary and consolidation of unconsolidated entity		(5,041)	(115,364)
Other expense, net		3,435	8,701
Loss before income taxes		(923,747)	(898,547)
Income tax expense		369	1,686
Net loss	[1]	(924,116)	(900,233)
Net loss attributable to noncontrolling interests		(78,854)	(90,999)
Net loss attributable to Roivant Sciences Ltd.		$ (845,262)	$ (809,234)
Basic and diluted net (loss) income per common share:
Net loss per common share—basic and diluted	[1]	$ (1.26)	$ (1.28)
Basic and diluted weighted average shares outstanding:
Weighted average shares outstanding—basic and diluted	[1]	669,753,458	630,046,720
[1]Retroactively restated for the stock subdivision as described in Note 3.

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Expense	$ 564,956	$ 84,958
Research and Development Expense [Member]
Share-based Payment Arrangement, Expense	63,735	22,637
General and Administrative Expense [Member]
Share-based Payment Arrangement, Expense	$ 501,221	$ 62,321

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Net loss	[1]	$ (924,116)	$ (900,233)
Other comprehensive loss
Foreign currency translation adjustment		(2,271)	3,826
Total other comprehensive (loss) income		(2,271)	3,826
Comprehensive loss		(926,387)	(896,407)
Comprehensive loss attributable to noncontrolling interests		(78,734)	(90,967)
Comprehensive loss attributable to Roivant Sciences Ltd.		$ (847,653)	$ (805,440)
[1]Retroactively restated for the stock subdivision as described in Note 3.

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity and Redeemable Noncontrolling Interest - USD ($) $ in Thousands		Total	Redeemable Noncontrolling Interest [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Subscriptions Receivables [Member]	AOCI Attributable to Parent [Member]	Accumulated Deficit [Member]	Noncontrolling Interest [Member]
Balance, temporary equity at Mar. 31, 2020	[1]		$ 22,491
Balance at Mar. 31, 2020	[1]	$ 2,086,204		$ 0	$ 3,143,739	$ 0	$ (2,349)	$ (1,109,228)	$ 54,042
Balance, shares at Mar. 31, 2020	[1]			628,779,048
Issuance of subsidiary common shares, net	[1]	456,097			324,995	(100,000)			231,102
Issuance of subsidiary common shares to the Company	[1]				(11,692)				11,692
Exercise of subsidiary stock options and vesting of subsidiary restricted stock units	[1]	907			522				385
Deconsolidation of subsidiary	[1]	(3,054)							(3,054)
Consolidation of unconsolidated entity	[1]	9,178							9,178
Repurchase of equity awards	[1]	(113)			(113)
Cash contribution to majority-owned subsidiaries	[1]				(1,642)				1,642
Issuance of the Company's common shares	[1]	301,744			301,744
Issuance of the Company's common shares, shares	[1]			21,077,155
Share-based compensation	[1]	84,958		$ 1,720,090	57,252				27,706
Foreign currency translation adjustment	[1]	3,826					3,794		32
Net loss	[1]	(900,233)						(809,234)	(90,999)
Balance, temporary equity at Mar. 31, 2021	[1]		22,491
Balance at Mar. 31, 2021	[1]	2,039,514		$ 0	3,814,805	(100,000)	1,445	(1,918,462)	241,726
Balance, shares at Mar. 31, 2021	[1]			651,576,293
Issuance of subsidiary warrants	[1]	2,075			2,051				24
Issuance of the Company's common shares upon closing of Business Combination and PIPE Financing, net of issuance costs	[1]	129,097			129,097
Issuance of the Company's common shares upon closing of Business Combination and PIPE Financing, net of issuance costs (in shares)	[1]			32,372,478
Issuance of the Company's common shares related to settlement of transaction consideration (in shares)	[1]			840,398
Issuance of subsidiary preferred shares	[1]	70,000							70,000
Issuance of subsidiary common and preferred shares to the Company	[1]				(52,189)				52,189
Payment of subscription receivable	[1]	100,000			(40,000)	100,000			40,000
Issuance of common stock upon warrants exercise	[1]	778			778
Issuance of common stock upon warrants exercise, Shares	[1]			60,021
Stock options exercised and restricted stock units vested and settled	[1]			2,757,775
Deconsolidation of subsidiary	[1]	3,578							3,578
Repurchase of equity awards	[1]	(2,247)							(2,247)
Cash contribution to majority-owned subsidiaries	[1]				(10,219)				10,219
Exercise of subsidiary stock options	[1]	412			412
Issuance of the Company's common shares	[1]	57,167			57,167
Issuance of the Company's common shares, shares	[1]			7,369,000
Share-based compensation	[1]	564,956			519,712				45,244
Foreign currency translation adjustment	[1]	(2,271)					(2,391)		120
Net loss	[1]	(924,116)						(845,262)	(78,854)
Balance, temporary equity at Mar. 31, 2022	[1]		$ 22,491
Balance at Mar. 31, 2022	[1]	$ 2,038,943		$ 0	$ 4,421,614	$ 0	$ (946)	$ (2,763,724)	$ 381,999
Balance, shares at Mar. 31, 2022	[1]			694,975,965
[1]Retroactively restated for the stock subdivision as described in Note 3.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	[1]	$ (924,116)	$ (900,233)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Non Cash Acquired in Process Research and Development		78,223	351,523
Share-based compensation		564,956	84,958
Change in fair value of investments		87,291	(95,533)
Gain on sale of investment		(443,754)	0
Change in fair value of debt and liability instruments		(3,354)	29,845
Gain on deconsolidation of subsidiary and consolidation of unconsolidated entity		(5,041)	(115,364)
Gain on termination of Sumitomo Options		(61,472)	0
Loss from equity method investment		0	3,750
Other		13,819	16,978
Changes in assets and liabilities, net of effects from acquisition and divestiture:
Accounts payable		15,403	3,752
Accrued expenses		50,595	9,225
Deferred consideration liability		(50,000)	100,000
Operating lease liabilities		(6,865)	(5,497)
Deferred revenue		17,969	2,297
Other		(11,383)	(37,839)
Net cash used in operating activities		(677,729)	(552,138)
Cash flows from investing activities:
Proceeds from sale of investment		320,170	0
Purchase of property and equipment		(17,436)	(5,806)
Other		561	(25,896)
Net cash (used in) provided by investing activities		303,295	(31,702)
Cash flows from financing activities:
Proceeds from business combination and PIPE financing		213,424	0
Proceeds from issuance of subsidiary common shares, net of issuance costs paid		0	455,756
Proceeds from payment of subscription receivable		100,000	0
Proceeds from subsidiary debt financings, net of financing costs paid		36,400	0
Repayment of long-term debt by subsidiary		(21,590)	0
Payment of offering and loan origination costs		(20,297)	(286)
Other		(1,145)	794
Net cash provided by financing activities		306,792	456,264
Net change in cash, cash equivalents and restricted cash		(67,642)	(127,576)
Cash, cash equivalents and restricted cash at beginning of period		2,141,676	2,269,252
Cash, cash equivalents and restricted cash at end of period		2,074,034	2,141,676
Non-cash investing and financing activities:
Subscription receivable related to issuance of subsidiary common shares		0	100,000
Other		6,035	4,531
Supplemental disclosure of cash paid:
Income taxes paid		916	4,076
Interest paid		$ 5,535	$ 2,017
[1]Retroactively restated for the stock subdivision as described in Note 3.

Description of Business and Liq

Description of Business and Liquidity	12 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Liquidity	Note 1—Description of Business and Liquidity (A) Description of Business Roivant Sciences Ltd. (inclusive of its consolidated subsidiaries, the “Company” or “RSL”) aims to improve health by rapidly delivering innovative medicines and technologies to patients. The Company does this by building biotech and healthcare technology companies (“Vants”) and deploying technology to drive greater efficiency in research and development and commercialization. In addition to biopharmaceutical subsidiaries, the Company also builds technology Vants focused on improving the process of developing and commercializing medicines. The Company was founded on April 7, 2014 as a Bermuda exempted limited company. VTAMA ® FDA-approved The Company has determined that it has one operating and reporting segment as it allocates resources and assesses financial performance on a consolidated basis. The Company’s subsidiaries are wholly owned subsidiaries and majority-owned or controlled subsidiaries. Refer to Note 4, “Investments” for further discussion of the Company’s investments in unconsolidated entities. On September 30, 2021, RSL completed its business combination with Montes Archimedes Acquisition Corp. (“MAAC”), a special purpose acquisition company, and began trading on Nasdaq under the ticker symbol “ROIV.” Refer to Note 3, “Business Combination with MAAC” for additional details. (B) Liquidity The Company has incurred significant losses and negative cash flows from operations since its inception. As of March 31, 2022, the Company had cash and cash equivalents of approximately $2.1 billion and its accumulated deficit was approximately $2.8 billion. For the years ended March 31, 2022 and 2021, the Company incurred net losses of $924.1 million and $900.2 million, respectively. The Company has historically financed its operations primarily through the sale of equity securities, sale of subsidiary interests, debt financings and revenue generated from licensing and collaboration arrangements. Through March 31, 2022, the Company had not generated any revenue from the sale of its product candidates. Through its subsidiary Dermavant Sciences Ltd., the Company has launched its first commercial product, VTAMA cream, following approval by the FDA in May 2022. The Company is subject to risks common to companies in the biopharmaceutical industry including, but not limited to, uncertainties related to commercialization of products, regulatory approvals to market its product candidates, dependence on key products, dependence on third-party service providers, such as contract research organizations, and protection of intellectual property rights. Management expects to incur additional losses in the future to fund its operations and conduct product research and development and recognizes the need to raise additional capital to fully implement its business plan. The Company intends to raise such additional capital through the issuance of equity securities, debt financings or other sources in order to further implement its business plan. However, if such financing is not available at adequate levels, the Company will need to reevaluate its operating plan and may be required to delay the development of its product candidates or take other steps to conserve capital. The Company expects its existing cash and cash equivalents will be sufficient to fund its committed operating expenses and capital expenditure requirements for at least the next months from the date of issuance of these consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies	Note 2—Summary of Significant Accounting Policies (A) Basis of Presentation and Principles of Consolidation The Company’s fiscal year ends on March 31, and its fiscal quarters end on June 30, September 30, and December 31. The accompanying audited consolidated financial statements and notes thereto have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Any references in these notes to applicable accounting guidance are meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The consolidated financial statements include the accounts of RSL and the subsidiaries in which it has a controlling financial interest, most often through a majority voting interest. All intercompany balances and transactions have been eliminated in consolidation. For consolidated entities where the Company owns or is exposed to less than 100% of the economics, the Company records net loss attributable to noncontrolling interests in its consolidated statements of operations equal to the percentage of common stock ownership interest retained in the respective operations by the noncontrolling parties. The Company presents noncontrolling interests as a component of shareholders’ equity on its consolidated balance sheets. The Company accounts for changes in its ownership interest in its subsidiaries while control is retained as equity transactions. The carrying amount of the noncontrolling interest is adjusted to reflect the change in RSL’s ownership interest in the subsidiary. Any difference between the fair value of the consideration received or paid and the amount by which the noncontrolling interest is adjusted is recognized within shareholders’ equity attributable to RSL. (B) Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company regularly evaluates estimates and assumptions related to assets, liabilities, costs, expenses, contingent liabilities, share-based compensation and research and development costs. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. Additionally, the Company assessed the impact that the COVID-19 pandemic has had on its operations and financial results as of March 31, 2022 and through the issuance of these consolidated financial statements. The Company’s analysis was informed by the facts and circumstances as they were known to the Company. This assessment considered the impact COVID-19 may have on financial estimates and assumptions that affect the reported amounts of assets and liabilities and expenses. (C) Concentrations Financial instruments that potentially subject the Company to concentration of credit risk include cash and cash equivalents. The Company maintains cash deposits and cash equivalents in highly-rated, federally-insured financial institutions in excess of federally insured limits. The Company has established guidelines relative to diversification and maturities to maintain safety and liquidity. The Company has not experienced any credit losses related to these financial instruments and does not believe that it is exposed to any significant credit risk related to these instruments. T he Company has long-lived assets in different geographic locations. As of March 31, 2022 and 2021, a majority of the Company’s long-lived assets were located in the United States. (D) Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents include cash deposits in banks and all highly liquid investments that are readily convertible to cash. The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Restricted cash classified as a current asset consists of legally restricted non-interest bearing deposit accounts relating to the Company’s corporate credit card programs. Restricted cash classified as a long-term asset consists of restricted deposit accounts related to irrevocable standby letters of credit. As of March 31, 2021, restricted cash classified as a current asset included $ million held in escrow for the purpose of fulfilling certain indemnification obligations. The full escrow amount of $ million was disbursed to the Company in June 2021. Cash as reported in the accompanying consolidated statements of cash flows includes the aggregate amounts of cash, cash equivalents, and restricted cash as presented on the accompanying consolidated balance sheets as follows (in thousands): March 31, 2022 March 31, 2021 Cash and cash equivalents $ 2,060,400 $ 2,055,044 Restricted cash 13,634 86,632 Cash, cash equivalents and restricted cash $ 2,074,034 $ 2,141,676 (E) Contingencies The Company may be, from time to time, a party to various disputes and claims arising from normal business activities. The Company continually assesses any litigation or other claims it may confront to determine if an unfavorable outcome would lead to a probable loss or reasonably possible loss which could be estimated. The Company accrues for all contingencies at the earliest date at which the Company deems it probable that a liability has been incurred and the amount of such liability can be reasonably estimated. If the estimate of a probable loss is a range and no amount within the range is more likely than another, the Company accrues the minimum of the range. In the cases where the Company believes that a reasonably possible loss exists, the Company discloses the facts and circumstances of the litigation, including an estimable range, if possible. (F) Property and Equipment Property and equipment, consisting primarily of computers, laboratory and other equipment, furniture and fixtures, software, and leasehold improvements, is recorded at cost, less accumulated depreciation. Maintenance and repairs that do not improve or extend the lives of the respective assets are expensed to operations as incurred. Upon disposal, retirement or sale, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in the results of operations. Depreciation of property and equipment is recorded using the straight-line method over the estimated useful lives of the related assets once the asset has been placed in service. Leasehold improvements are amortized using the straight-line method over the estimated useful life or remaining lease term, whichever is shorter. The following table provides the range of estimated useful lives used for each asset type: Property and Equipment Estimated Useful Life Computers 3 years Laboratory and other equipment 5 - 10 years Furniture and fixtures 7 years Software 3 years Leasehold improvements Lesser of estimated useful life or remaining lease term The Company reviews the recoverability of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset might not be recoverable. Recoverability is measured by comparison of the book values of the assets to the future net undiscounted cash flows that the assets are expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the book value of the assets exceed their fair value, which is measured based on the projected discounted future net cash flows arising from the assets. (G ) Investments Investments in equity securities may be accounted for using (i) the fair value option if elected, (ii) fair value through earnings if fair value is readily determinable or (iii) for equity investments without readily determinable fair values, the measurement alternative to measure at cost adjusted for any impairment and observable price changes, as applicable. The election to use the measurement alternative is made for each eligible investment. The Company has elected the fair value option to account for certain investments over which the Company has significant influence. The Company believes the fair value option best reflects the underlying economics of the investment. See Note 4, “Investments.” (H) Research and Development Expenses Research and development (“R&D”) costs are expensed as incurred. Preclinical and clinical study costs are accrued over the service periods specified in the contracts and adjusted as necessary based upon an ongoing review of the level of effort and costs actually incurred. R&D costs primarily consist of costs associated with preclinical studies and clinical trials, including amounts paid to contract research organizations, contract manufacturing organizations, and other third parties that conduct R&D activities on behalf of the Company, as well as employee-related expenses, such as salaries, share-based compensation, and benefits, for employees engaged in R&D activities. (I) Acquired In-Process For the year ended March 31, 2022, the Company began reporting acquired in-process research and development (“IPR&D”) expense as a separate line item in its consolidated statements of operations. Acquired IPR&D expenses include consideration for the purchase of IPR&D through asset acquisitions and license agreements as well as payments made in connection with asset acquisitions and license agreements upon the achievement of development milestones. These expenses were previously recorded in “Research and development” on the consolidated statements of operations. Prior periods have been revised to conform to the current period presentation. The Company evaluates in-licensed agreements for in-process research and development projects (“IPR&D”) to determine if it meets the definition of a business and thus should be accounted for as a business combination. If the in-licensed agreement for IPR&D does not meet the definition of a business and the assets have not reached technological feasibility and therefore have no alternative future use, the Company expenses payments made under such license agreements as acquired in-process research and development expense in its consolidated statements of operations. Payments for milestones achieved and payments for a product license prior to regulatory approval of the product are expensed in the period incurred. Milestone payments made in connection with regulatory approvals are capitalized and amortized to cost of revenue over the remaining useful life of the asset. (J) General and Administrative Expenses General and administrative (“G&A”) expenses consist primarily of employee-related expenses for G&A personnel, including those responsible for the identification and acquisition or in-license relating to corporate matters and daily operations. G&A expenses include costs incurred relating to the identification, acquisition or in-license and technology transfer of promising drug candidates along with costs incurred relating to the integration of new technologies. (K) Leases The Company determines if an arrangement includes a lease at the inception of the agreement. For each of the Company’s lease arrangements, the Company records a right-of-use asset representing the Company’s right to use an underlying asset for the lease term and a lease liability representing the Company’s obligation to make lease payments. Operating lease right-of-use assets and operating lease liabilities are recognized at the lease commencement date based on the estimated present value of fixed lease payments over the expected lease term. If the interest rate implicit in the Company’s leases is not readily determinable, in determining the weighted-average discount rate used to calculate the net present value of lease payments, the Company utilizes an estimate of its incremental borrowing rate. The Company’s incremental borrowing rates are determined based on the term of the lease, the economic environment of the lease, and the effect of collateralization. Lease expense for the Company’s operating leases is recognized on a straight-line basis over the lease term and variable lease costs are expensed as incurred. The Company elected the practical expedient not to apply the recognition and measurement requirements to short-term leases, which is any lease with a term of one year or less as of the lease commencement date. Leases may require the Company to pay additional amounts for taxes, insurance, maintenance, and other expenses, which are generally referred to as non-lease components. The Company has elected the practical expedient to combine lease and non-lease components. If a lease includes options to extend the lease term, the Company does not assume the option will be exercised in its initial lease term assessment unless there is reasonable certainty that the Company will renew based on an assessment of economic factors present as of the lease commencement date. (L) Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and the respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded when, after consideration of all positive and negative evidence, it is not more likely than not that the Company’s deferred tax assets will be realizable. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of its net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. (M) Share-Based Compensation Share-based awards to employees, directors, and consultants, including stock options, restricted stock units, performance options and capped value appreciation rights, are measured at fair value on the date of the grant and that fair value is recognized as share-based compensation expense in the Company’s consolidated statements of operations over the requisite service period of the respective award. The estimated fair value of awards that contain performance conditions is expensed when the Company concludes that it is probable that the performance condition will be achieved. The Company may grant awards with graded-vesting features. When such awards have only service vesting requirements, the Company elected to record share-based compensation expense on a straight-line basis. If awards with graded-vesting features contain performance or market conditions, then the Company records share-based compensation expense using the accelerated attribution method. The Company measures the fair value of its stock options that only have service vesting requirements or performance-based options without market conditions using the Black-Scholes option pricing model. For performance-based awards with market conditions, the Company determines the fair value of the awards as of the grant date using a Monte Carlo simulation model. When determining the grant-date fair value of stock-based awards, management further considers whether an adjustment is required to the observable market price or volatility of the Company’s common stock that is used in the valuation as a result of material non-public Certain assumptions need to be made with respect to utilizing the Black-Scholes option pricing model, including the expected life of the award, volatility of the underlying shares, the risk-free interest rate and the fair value of the Company’s shares of common stock. Since the Company has limited option exercise history, it has generally elected to estimate the expected life of an award based upon the “simplified method” with the continued use of this method extended until such time the Company has sufficient exercise history. The risk-free interest rate is based on the rates paid on securities issued by the U.S. Treasury with a term approximating the expected life of the equity award. The expected share price volatility for the Company’s common shares is estimated by taking the average historical price volatility for industry peers. The Company accounts for pre-vesting One of the inputs to the Black-Scholes option pricing model is the fair value of the Company’s common shares. Prior to the closing of its business combination with MAAC, as a privately held company, the Company estimated the fair value of the shares of common stock underlying its share-based awards on each grant date. Given the absence of a public trading market, and in accordance with the American Institute of Certified Public Accountants’ Practice Guide, Valuation of Privately-Held-Company Equity Securities Issued as Compensation, the Company exercised reasonable judgment and considered numerous objective and subjective factors to determine its best estimate of the fair value of its common shares. The estimation of the fair value of the common shares considered factors including the following: the prices of the Company’s common shares sold to investors in arm’s length transactions; the estimated present value of the Company’s future cash flows; the Company’s business, financial condition and results of operations; the Company’s forecasted operating performance; the illiquid nature of the Company’s common shares; industry information such as market size and growth; market capitalization of comparable companies and the estimated value of transactions such companies have engaged in; and macroeconomic conditions. The Company applies a similar methodology to estimate the fair value of the shares of common stock underlying share-based awards issued by its privately held Vants. Following the closing of the Company’s business combination with MAAC, RSL’s common shares became publicly traded and the Company began determining the fair value of each common share underlying share-based awards based on the closing price of its common shares as reported by Nasdaq on the date of grant. Therefore, it will not be necessary to determine the fair value of the new stock-based award pursuant to the methodology described above. (N) Fair Value Measurements The Company utilizes fair value measurement guidance prescribed by accounting standards to value its financial instruments. The guidance establishes a fair value hierarchy for financial instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s own assumptions (unobservable inputs). Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. Fair value is defined as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. As a basis for considering market participant assumptions in fair value measurements, the guidance establishes a three-tier fair value hierarchy that distinguishes among the following: • Level 1-Valuations • Level 2-Valuations • Level 3-Valuations To the extent the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The Company’s financial instruments include shares of common stock of Arbutus Biopharma Corporation (“Arbutus”); shares of common stock of Sio Gene Therapies Inc. (“Sio”); shares of common stock of Heracles Parent, L.L.C., the parent entity of Datavant (as defined and discussed in Note 4, “Investments”); liability instruments issued, including the Roivant Warrants and Earn-Out The shares of Arbutus and Sio common stock and investments in common stock with a readily determinable fair value are classified as Level 1, and their fair value is determined based upon quoted market prices in an active market. In October 2021, shares of Arbutus’ Series A participating convertible preferred shares (“Arbutus Preferred Shares”) held by the Company were converted into shares of common stock of Arbutus pursuant to mandatory conversion provisions. Prior to conversion, the Arbutus Preferred Shares held by the Company were classified as Level 2 as the fair value of such preferred shares was determined based upon the quoted market price of Arbutus common stock into which such preferred shares were convertible. The shares of common stock of Heracles Parent, L.L.C., the parent entity of Datavant (as defined and discussed in Note 4, “Investments”), and liability instruments issued, excluding the Public Warrants (as defined and discussed in Note 3, “Business Combination with MAAC”), are classified as Level 3 within the fair value hierarchy as the assumptions and estimates used in the valuations are unobservable in the market. The Public Warrants are publicly traded and therefore are classified as Level 1 as the Public Warrants have a readily determinable fair value. Cash, accounts payable, and the deferred consideration liability are stated at their respective historical carrying amounts, which approximate fair value due to their short-term nature. The deferred consideration liability was based on a fixed monetary amount, and payment was based solely on the passage of time. The deferred consideration liability was settled in November 2021 by payment of $50.0 million in cash as well as the issuance of 6,348,057 of the Company’s c s fair value option has been elected is included in Level 3 of the fair value hierarchy as the assumptions and estimates used in the valuation are unobservable in the market. (O) Foreign Currency Assets and liabilities of foreign operations are translated using exchange rates in effect at the balance sheet date and their results of operations are translated using average exchange rates for the year. Certain transactions of the Company and its subsidiaries are denominated in currencies other than their functional currency. Adjustments resulting from the translation of the financial statements of the Company’s foreign functional currency subsidiaries into U.S. dollars are excluded from the determination of net loss and are accumulated in a separate component of shareholders’ equity. Foreign exchange transaction gains and losses are included in “Other expense, net” in the Company’s statements of operations. (P) Revenue Recognition The Company recognizes revenue when its customer obtains The Company applies significant judgment when evaluating whether contractual obligations represent distinct performance obligations, allocating transaction price to performance obligations within a contract, determining when performance obligations have been met, assessing the recognition and future reversal of variable consideration, and determining and applying appropriate methods of measuring progress for performance obligations satisfied over time. These judgments are discussed in more detail below. • Licenses of intellectual property: non-refundable, non-refundable, • Milestone payments: re-evaluates catch-up • Royalties and commercial milestone payments: pre-specified recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Achievement of these royalties and commercial milestones may solely depend upon performance of the licensee. Revenue is also generated by certain technology-focused Vants from subscription and service-based fees recognized for the use of certain technology developed by these Vants. Subscription revenue is recognized ratably over the contract period. Trade Receivables, Net The Company monitors the financial performance and creditworthiness of its customers so that it can properly assess and respond to changes in customer credit profiles. The Company reserves against trade receivables for estimated losses that may arise from a customer’s inability to pay, and any amounts determined to be uncollectible are written off against the reserve when it is probable that the receivable will not be collected. The reserve amount for estimated losses was de minimis as of March 31, 2022 and 2021. Trade receivables, net is included in “Other current assets” on the accompanying consolidated balance sheets. (Q) Warrant Liabilities The Company classifies the Roivant Warrants as liabilities. At the end of each reporting period, changes in fair value during the period are recognized within the consolidated statements of operations. The Company will continue to adjust the carrying value of the liability associated with the Roivant Warrants for changes in the fair value until the earlier of a) the exercise or expiration of the Roivant Warrants or b) the redemption of the Roivant Warrants. Issuance costs incurred that were attributable to the Roivant Warrants were expensed as incurred. (R) Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, 470-20) 815-40): No. 2020-06”). No. 2020-06 No. 2020-06 No. 2020-06 No. 2020-06

Business Combination with MAAC

Business Combination with MAAC	12 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Business Combination with MAAC	Note 3—Business Combination with MAAC On September 30, 2021 (the “Closing Date”), in accordance On the Closing Date prior to the effective time of the Merger (the “Effective Time”), RSL effected a 2.9262-for-1 stock subdivision based on the fixed exchange ratio established in the Business Combination. The shares, equity awards and net loss per share available to holders of the Company’s c stock In accordance with the terms of the Business Combination Agreement, at the Effective Time: a. each share of MAAC Class A common stock (the “MAAC Class A Shares”) and each share of MAAC Class B common stock (the “MAAC Class B Shares”) that were outstanding immediately before the Effective Time (other than treasury shares and any shares held by Patient Square Capital LLC (the “MAAC Sponsor”), any affiliate of the MAAC Sponsor or any of MAAC’s independent directors (the “MAAC Independent Directors”) or its transferee) were automatically canceled and extinguished and converted into one c s b. each MAAC Class B Share that was outstanding immediately before the Effective Time and held by the MAAC Sponsor, any affiliate of the MAAC Sponsor or any of the MAAC Independent Directors or its transferee were automatically canceled and extinguished and converted into a number of Roivant C S C S c. each warrant to purchase MAAC Class A Shares that was outstanding immediately before the Effective Time was converted automatically into a right to acquire a Roivant Common Share (a “Roivant Warrant”) at an exercise price of $11.50 per share, subject to certain adjustments. Following the Merger, the Roivant C S In connection with the Business Combination, RSL entered into subscription agreements with certain investors, whereby it issued c ommon s hares at $ per share for an aggregate purchase price of $ million (the “PIPE Financing”). The PIPE Financing closed simultaneously with the consummation of the Business Combination. In connection with the Business Combination and PIPE Financing, the Company received $213.4 million in cash at closing (the “Closing”), net of deferred underwriting expenses and unpaid expenses incurred by MAAC in connection with the transaction. The Company incurred $24.4 million in costs directly related to the Business Combination and PIPE Financing, such as banker fees and costs associated with third-party legal, accounting and other professional services. Upon Closing, these costs, which had been capitalized on the Company’s balance sheet were recorded as a reduction of additional paid-in Earn-Out Earn-Out Sponsor Support Agreement Concurrently with the execution of the Business Combination Agreement, MAAC, the MAAC Sponsor, Roivant and each of the MAAC Independent Directors, entered into the Sponsor Support Agreement, which was subsequently amended on June 9, 2021, to reflect the MAAC Independent Directors and Roivant entering into respective Lock-Up Agreements, and further amended on September 30, 2021. Pursuant to the Sponsor Support Agreement, among other things: a. 2,033,591 Roivant C S C S Earn-Out of its MAAC Class B Shares, will vest if the closing price of Roivant C S twenty thirty b 1,016,796 Roivant C S C S Earn-Out Earn-Out “Earn-Out C S twenty thirty c The remaining number of Roivant C S The Vesting Period represents the period commencing on November 9, 2021, the date on which the registration statement on Form S-1 required to be filed by the Company in connection with the PIPE Financing was declared effective, and ending no later than September 30, 2026 (the “Vesting Period”). The Vesting Period will, if a definitive purchase agreement with respect to a Sale (as defined in the Sponsor Support Agreement) is entered into on or prior to the end of such period, be extended to the earlier of one day after the consummation of such Sale and the termination of such definitive transaction agreement, and if a Sale occurs during such Vesting Period, then all of the Earn-Out Shares unvested as of such time will automatically vest immediately prior to the consummation of such Sale. If any Earn-Out Shares have not vested on or prior to the end of such Vesting Period, then such Earn-Out Shares will be forfeited. The Earn-Out Shares require liability classification and are classified as “Liability instruments measured at fair value” on the consolidated balance sheets. The Earn-Out Shares liability is subject to remeasurement at each balance sheet date with changes in fair value recognized in the Company’s statement of operations. Lock-Up Agreements On May 1, 2021 and June 9, 2021, RSL, on the one hand, and the MAAC Sponsor, the MAAC Independent Directors and certain Roivant equityholders, on the other hand, entered into lock-up lock-up The lock-up C S C S C S C S thirty The Roivant C S lock-up thirty- The lock-up to 25% of the Roivant C S C S C S thirty Common Stock Warrants At the effective time of the Merger, 10,214,365 Roivant Warrants that were held by the MAAC Sponsor at an exercise price of $11.50 (the “Private Placement Warrants”) and 20,535,896 Roivant Warrants held by MAAC’s shareholders at an exercise price of $11.50 (the “Public Warrants”) were converted into the right to acquire Roivant C S The Private Placement Warrants are generally identical to the Public Warrants, except that (i) the Private Placement Warrants (including the c stock 30 days after the completion of the Business Combination (ii) they will not be redeemable by the Company when the price per share of Roivant C S The Roivant Warrants require liability classification and are classified as “Liability instruments measured at fair value” on the consolidated balance sheets. The Private Placement Warrants liability and Public Warrants liability are subject to remeasurement at each balance sheet date with changes in fair value recognized in the Company’s statement of operations. As of March 31, 2022, 60,021 Roivant Warrants have been exercised and none redeemed. Redemption of Roivant Warrants when the price per share of Roivant C S The Company may redeem the outstanding Roivant Warrants for cash (except with respect to the Private Placement Warrants): • in whole and not in part; • at a price of $0.01 per Roivant Warrant; • upon a minimum of 30 days’ prior written notice of redemption; and • if, and only if, the last reported sale price of c stock 30 -trading However, in this case, the Company will not redeem the Roivant Warrants unless an effective registration statement under the Securities Act covering the Roivant Common Shares issuable upon exercise of the Roivant Warrants is effective and a current prospectus relating to those Roivant Common Shares is available throughout the 30-day Redemption of Roivant Warrants when the price per share of Roivant C S The Company may redeem the outstanding Roivant Warrants (except as described herein with respect to the Private Placement Warrants): • in whole and not in part; • at $0.10 per Roivant Warrant upon a minimum of 30 days’ prior written notice of redemption provided that holders will be able to exercise their Roivant Warrants on a cashless basis prior to redemption and receive that number of Roivant C S C S • if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted for stock splits, stock dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like); and • if the Reference Value is less than $18.00 per share (as adjusted for stock splits, stock dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like), the Private Placement Warrants must also concurrently be called for redemption on the same terms (except as described herein with respect to a holder’s ability to cashless exercise its warrants) as the outstanding Public Warrants, as described above. For these purposes, “fair market value” of Roivant C S c s 10 trading days immediately following the date on which the notice of redemption is sent to warrantholders. In no event will the Roivant Warrants be exercisable in connection with this redemption feature for more than 0.361 Roivant Common Shares

Investments

Investments	12 Months Ended
	Mar. 31, 2022
Investments, All Other Investments [Abstract]
Investments	Note 4—Investments Investment in Arbutus In October 2017, pursuant to a subscription agreement entered into by RSL and Arbutus, RSL acquired 16,013,540 shares of common stock of Arbutus and 1,164,000 Arbutus Preferred Shares, which converted into 22,833,922 shares of Arbutus common stock in October 2021. The Company accounts for its investment in Arbutus as an equity method investment accounted for using the fair value option. Due to the Company’s significant influence over operating and financial policies, Arbutus is considered a related party of the Company. At March 31, 2022, RSL held approximately 26% of issued and outstanding shares of Arbutus. At March 31, 2022 and 2021, the aggregate fair value of the Company’s investment in Arbutus was $115.8 million and $129.4 million, respectively, with the Company recognizing an unrealized loss on its investment in Arbutus of $13.6 million and an unrealized gain of $90.2 million in the accompanying consolidated statements of operations for the years ended March 31, 2022 and 2021. The fair value of the Company’s investment was determined using the closing price of Arbutus’s common stock on March 31, 2022 and 2021 of $2.98 and $3.33, respectively. Investment in Sio In February 2020, RSL’s ownership interest in Sio fell below 50.0%, and as a result, the Company deconsolidated Sio. The Company accounts for its investment in Sio as an equity method investment accounted for using the fair value option. Due to the Company’s significant influence over operating and financial policies, Sio is considered a related party of the Company. At March 31, 2022, RSL held approximately 25% of Sio’s issued and outstanding common shares. At March 31, 2022 and 2021, the fair value of the Company’s investment in Sio was $12.4 million Investment in Datavant In April 2020, following an equity raise completed by Datavant Holdings, Inc. (“Datavant”) along with a restructuring of Datavant’s equity classes, it was determined that RSL no longer controlled Datavant. As such, the Company deconsolidated Datavant as of April 2020. Due to the Company’s significant influence over operating and financial policies, Datavant is considered a related party of the Company. Upon deconsolidation, the Company recorded its investment in Datavant based on the fair value of Datavant preferred shares held of $99.0 million. Prior to the Datavant Merger (defined below), the Company accounted for its investment in Datavant using the measurement alternative to fair value. Under the measurement alternative, the investment is remeasured upon observable price changes in orderly transactions or upon impairment, if any. The Company recognized a gain on deconsolidation of $86.5 million in the accompanying consolidated statements of operations for the year ended March 31, 2021. In July 2020, Datavant issued and sold additional preferred shares to RSL at a price consistent with that of the initial round of Datavant’s Series B equity raise, which resulted in an increase in the carrying value of the Company’s investment to $100.6 million. In June 2021, Datavant and Heracles Parent, L.L.C. (referred to herein as “Ciox Parent” and, after the closing of the Datavant Merger (as defined below), “Datavant”), a provider of healthcare information services and technology solutions to hospitals, health systems, physician practices and authorized recipients of protected health records in the United States, primarily through its wholly owned subsidiary CIOX Health, LLC, entered into a definitive agreement to merge Datavant with and into a newly formed wholly owned subsidiary of Ciox Parent (the “Datavant Merger”). The merger closed on July 27, 2021. At closing, the Company received approximately $320 million in cash and a minority equity stake in Ciox Parent. As a result of the transaction, the Company recognized a gain on remeasurement of $443.8 million in the accompanying consolidated statements of operations for the year ended March 31, 2022. As of March 31, 2022, the Company’s minority equity interest represented approximately 17% of the outstanding Class A units in Ciox Parent. Ciox Parent’s capital structure includes several classes of preferred units that, among other features, have liquidation preferences and conversion features. Upon conversion of such preferred units into Class A units, the Company’s ownership interest would be diluted. Following the completion of the Datavant Merger, the Company’s minority equity interest became subject to the equity method of accounting. At such time, the fair value option was elected to continuously remeasure the investment to fair value each reporting period with changes in fair value reflected in earnings. As of March 31, 2022 and July 27, 2021, the fair value of the Company’s investment was $193.9 million and $224.1 million, respectively, with the Company recognizing an unrealized loss on its investment of $30.2 million for the year ended March 31, 2022. The fair value of the Company’s investment was determined using valuation models that incorporate significant unobservable inputs and is classified as a Level 3 measurement within the fair value hierarchy. Refer to Note 14, “Fair Value Measurements” for more information. Other Investment The Company holds an additional equity investment that is measured using the fair value option. The fair value of this investment was $3.7 million and $11.1 million as of March 31, 2022 and 2021, respectively.

Asset Acquisitions and License

Asset Acquisitions and License Agreements	12 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Asset Acquisitions and License Agreements	Note 5—Asset Acquisitions and License Agreements During the years ended March 31, 2022 and 2021, the Company, directly or indirectly through Vants, completed the following key asset acquisitions and license agreements. The Company evaluated the below agreements, except the collaboration agreement entered into between Proteovant Therapeutics, Inc. and Blueprint Medicines Corporation (“Blueprint Medicines”) that is evaluated separately below, and determined that the acquired assets did not meet the definition of a business as substantially all the fair value of the assets acquired were concentrated in a single asset or group of similar assets and/or the acquired assets were not capable of producing outputs due to the lack of an assembled workforce and early stage of development and thus, each transaction was accounted for as an asset acquisition. The Company then evaluated whether each in-process in-process in-process Genevant In July 2020, RSL increased its investment in Genevant Sciences Ltd. (“Genevant”) as part of a recapitalization transaction (the “Recapitalization”). Genevant, an entity focused on the discovery, development, and commercialization of a broad range of RNA-based Pursuant to the Recapitalization, the following transactions were completed: • Genevant issued 74,272,043 common shares to RSL for an aggregated purchase price of $20.5 million; • $15.1 million aggregate principal amount of the Genevant Outstanding Notes were converted into 54,526,549 common shares; and • Genevant issued 9,057,566 common shares to Arbutus for an aggregated purchase price of $2.5 million. Following the Recapitalization, RSL held an 82.9% controlling interest in Genevant. Concurrent with the Recapitalization, the composition of Genevant’s Board of Directors was restructured to include two directors designated by RSL and one director who is a senior officer of Genevant. As a result of the Recapitalization and changes to the bye-laws, The transactions completed as part of the Recapitalization represent an acquisition achieved in stages, which required the remeasurement of RSL’s previously held interest in Genevant. As such, RSL’s investments in Genevant were remeasured to fair value of $28.8 million, also resulting in a gain of $28.8 million that was recognized in the accompanying consolidated statements of operations for the year ended March 31, 2021. Along with the fair value of noncontrolling interests in Genevant of $9.2 million and cash paid of $20.5 million for common shares of Genevant as part of the Recapitalization, total consideration paid was $58.5 million. Of this amount, $41.4 million was attributed to in-process in-process Proteovant In November 2020, Proteovant Sciences, Inc. (formerly known as Pharmavant 5, Inc.) (together with its wholly owned subsidiaries, “Proteovant”) entered into a stock purchase agreement to acquire Oncopia Therapeutics, Inc. (“Oncopia”), a preclinical biotechnology company developing small molecule protein degraders primarily against certain oncology targets. Upfront proceeds to Oncopia’s shareholders were $105.0 million, prior to certain adjustments in accordance with the terms of the agreement. Proteovant is also obligated to make future development and commercial milestone payments of up to $100.0 million for the first product targeting each of the two specified initial targets, and up to $51.0 million for the first product targeting each of certain specified additional molecular targets. Additionally, the Company’s investments in promissory notes issued by Oncopia for an aggregate principal amount of $11.5 million were settled through either conversion to equity or cancellation. Oncopia’s intellectual property was developed by the University of Michigan laboratory run by Oncopia’s co-founder “Co-Founder”). low- mid-single The Co-Founder’s on-going Lastly, in connection with the acquisition of Oncopia, the Co-Founder Co-Founder Co-Founder During the year ended March 31, 2021, the Company recorded $116.5 million, relating to the net upfront cash payment of $101.2 million, settlement of promissory notes receivable, including accrued interest, of $11.9 million, and fair value of future contingent consideration payments of $3.4 million, as acquired in-process In December 2020, RSL, Proteovant and SK, Inc. (formerly known as SK Holdings Co., Ltd.) (“SK”) entered into a subscription agreement (the “Subscription Agreement”) pursuant to which SK agreed to make a $200.0 million equity investment in Proteovant, representing an ownership interest of 40.0% on the closing date. In January 2021, in accordance with the terms of the Subscription Agreement, SK made the first payment of $100.0 million to Proteovant. SK made the second payment of $100.0 million to Proteovant in July 2021. In February 2022, Proteovant entered into a collaboration agreement with Blueprint Medicines pursuant to which the parties will jointly research and advance up to two novel protein degrader compounds into development candidates, as well as up to two additional novel protein degrader target programs as may be mutually agreed to by the Blueprint Medicines and Proteovant (each a target program). Under the terms of the collaboration agreement, Proteovant received a nonrefundable, upfront payment of $20.0 million in March 2022 and will be eligible to receive up to an additional $632.0 million in contingent milestone payments including specified research, development, regulatory and commercialization milestones and tiered percentage royalties on a licensed product-by-licensed mid- opts-in “Opt-In opt-in ex-United Opt-In Proteovant will be performing research and development activities throughout the period until Blueprint Medicines can exercise its option to obtain a worldwide, exclusive license to develop and commercialize any licensed compound, subject to Proteovant’s Opt-In Affivant In November 2020, RSL and its indirect subsidiary Affivant Sciences GmbH (“Affivant”) entered into a licensing and strategic collaboration agreement with Affimed N.V. (“Affimed”) to develop and commercialize novel innate cell engagers for multiple cancer targets in exchange for consideration that includes $40.0 million in upfront cash and pre-paid Acquisition of Silicon Therapeutics In March 2021, the Company completed the acquisition of the business of Silicon Therapeutics, LLC (“Silicon Therapeutics”), a physics-driven computational drug discovery company, for total consideration of approximately $450.0 million, with additional cash payments payable subject to the satisfaction of certain regulatory and commercial milestones. This acquisition did not include one of Silicon Therapeutics’ subsidiaries, Silicon SWAT, Inc. Approximately $350.0 million of the consideration was payable primarily in the C c stock at or near closing of the acquisition (the “First Tranche”). At closing of the acquisition, the Company issued 21,409,764 c s and paid approximately $14.0 million in cash, net of cash received, to Silicon Therapeutics after giving effect to certain transaction adjustments and holdbacks. The remainder of the First Tranche was paid in a combination of c s and cash as certain holdbacks were released. In November 2021, the Company transferred the remaining $100.0 million (the “Second Tranche Consideration”) to Silicon Therapeutics through a $50.0 million cash payment and the issuance of 6,348,057 of the Company’s c ommon s . The transaction was accounted for as an asset acquisition as substantially all of the fair value of the assets acquired were concentrated in a single asset, in-process c s in-process have no alternative future use. Accordingly, the Company recorded $399.6 million as acquired in-process In connection with the transaction, the vesting of certain outstanding Silicon Therapeutics share-based compensation awards held by employees of Silicon Therapeutics was discretionarily accelerated at closing. As a result, the Company recorded share-based compensation expense of $23.5 million in the accompanying consolidated statements of operations for the year ended March 31, 2021. In addition, certain share-based compensation awards of Silicon Therapeutics were exchanged with restricted c stock of the Company, subject to certain service-based vesting requirements, with a fair value of $22.6 million. Of this amount, $15.6 million was attributed to precombination service and therefore included in the total fair value of consideration transferred. Priovant In September 2021, Priovant Therapeutics, Inc. (“Priovant”) entered into a license and collaboration agreement with Pfizer, Inc. (“Pfizer”) (the “Pfizer License Agreement”). The transaction was accounted for as an asset acquisition as the acquired assets did not meet the definition of a business. The fair value of consideration transferred was $82.1 million, consisting of $70.0 million of preferred stock issued to Pfizer, representing a dilution-protected minority ownership interest in Priovant; a $10.0 million upfront cash payment; and $2.1 million relating to other obligations. The acquired rights, which included the licensed rights, starting materials and in-process in-process in-process Priovant is obligated to pay Pfizer a mid tens-of-millions sales milestone payment if aggregate net sales of its licensed products in Priovant’s territory in a given year exceed a mid hundreds-of-millions amount. Pfizer is obligated to pay Priovant a low tens-of-millions sales milestone payment if aggregate net sales of its licensed products outside of Priovant’s territory in a given year exceed a mid hundreds-of-millions amount. Priovant is obligated to pay Pfizer a tiered, sub-teens sub-teens Hemavant In November 2021, Hemavant Sciences GmbH (“Hemavant”), a wholly owned subsidiary of the Company, entered into a license agreement with Eisai Co., Ltd. (“Eisai”) (the “Eisai License Agreement”). Pursuant to the Eisai License Agreement, Eisai granted Hemavant (i) an exclusive, worldwide, sublicensable, royalty-bearing license under certain patents and know-how non-exclusive, know-how RVT-2001 RVT-2001 c stock sub-teens The transaction was accounted for as an asset acquisition as the acquired assets did not meet the definition of a business. The acquired rights, which include the licensed rights and in-process in-process c stock in-process

Accrued Expenses

Accrued Expenses	12 Months Ended
	Mar. 31, 2022
Accrued Liabilities and Other Liabilities [Abstract]
Accrued Expenses	Note 6—Accrued Expenses Accrued expenses at March 31, 2022 and 2021 consisted of the following (in thousands): March 31, March 31, Research and development expenses $ 66,188 $ 20,755 Compensation-related expenses 44,262 38,552 Other general and administrative expenses 17,081 17,629 Total accrued expenses $ 127,531 $ 76,936

Long-Term Debt and Loan Commitm

Long-Term Debt and Loan Commitment	12 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt and Loan Commitment	Note 7—Long-Term Debt and Loan Commitment (A) Long-Term Debt Long-term debt, net consists of the following (in thousands): March 31, March 31, Principal amount $ 217,400 $ 170,100 Exit fee / end of term charge 5,000 1,390 Less: unamortized debt discount and issuance costs (12,375 ) (1,210 ) Total debt, net 210,025 170,280 Less: current portion — — Total long-term debt, net $ 210,025 $ 170,280 Dermavant In May 2019, Dermavant entered into a loan and security agreement (the “Hercules Loan Agreement”) with Hercules Capital, Inc. (“Hercules”), pursuant to which Dermavant borrowed an aggregate of $20.0 million, which bore interest at a variable per annum rate at the greater of (i) 9.95% or (ii) the prime rate plus 4.45%. Dermavant was also obligated to pay an end of term charge of $1.4 million. Following the achievement of certain milestones, the term loan maturity was extended to June 1, 2023 with interest-only monthly payments through December 2021. All amounts outstanding under the Hercules Loan Agreement were repaid in May 2021 using the proceeds from a $40.0 million senior secured credit facility (the “Credit Facility”) entered into by Dermavant and certain of its subsidiaries in May 2021 with XYQ Luxco S.A.R.L (“XYQ Luxco”), as lender, and U.S. Bank National Association, as collateral agent. The Credit Facility has a five-year maturity and bears an interest rate of 10.0% per annum. Interest is payable quarterly in arrears on the last day of each calendar quarter through the maturity date. A lump sum principal payment is due on the maturity date. Dermavant is also obligated to pay an exit fee of $5.0 million. The exit fee can be reduced to $4.0 million upon achievement of certain equity milestones defined in the agreement, which are not deemed likely as of March 31, 2022. In connection with the funding of the Credit Facility, Dermavant issued a warrant to XYQ Luxco to purchase 1,199,072 common shares of Dermavant at an exercise price of $0.01 per common share. In connection with Dermavant’s acquisition of tapinarof from GlaxoSmithKline Intellectual Property Development Ltd. and Glaxo Group Limited (collectively “GSK”) pursuant to an asset purchase agreement (the “GSK Agreement”), Dermavant and NovaQuest Co-Investment Fund VIII, L.P. (“NovaQuest”) entered into a funding agreement (the “NovaQuest Agreement”). Pursuant to the NovaQuest Agreement, Dermavant borrowed $ million in and $ million in in exchange for an obligation to make certain variable future payments calculated as a function of the achievement of regulatory and commercial milestones or events of termination. The aggregate maximum amount of regulatory milestone payments that Dermavant could be required to make under the NovaQuest Agreement is $ million, with $176.3 million due over a six-year period paid quarterly following the U.S. regulatory approval of VTAMA in May 2022. The maximum aggregate amount of commercial milestone payments is $ million. In some circumstances, Dermavant may be able to offset certain of the regulatory milestone payments with up to $ million of the commercial milestone payments. At issuance, the Company concluded that certain features of the long-term debt would be considered derivatives that would require bifurcation. In lieu of bifurcating various features in the agreement, the Company has elected the fair value option for this financial instrument and will record the changes in the fair value within the statements of operations at the end of each reporting period. Direct costs and fees related to the debt issued under the NovaQuest Agreement were recognized in earnings. As of March , and , the fair value of the debt was $ million and $ million, respectively. Refer to Note , “Fair Value Measurements” for additional details regarding the fair value measurement. (B) Debt Maturities Annual maturities, including the exit fee, of debt outstanding as of March 31, 2022 are as follows (in thousands). Long term debt issued by Dermavant for which the fair value option has been elected is excluded from the below as the repayment terms are variable. Years Ending March 31, 2023 $ — 2024 — 2025 — 2026 — 2027 45,000 Thereafter — Total $ 45,000 (C) Loan Commitment In May 2021, Dermavant, as seller, entered into a $160.0 million revenue interest purchase and sale agreement (the “RIPSA”) for its investigational product tapinarof with XYQ Luxco, NovaQuest Co-Investment $160.0 million in committed funding to be paid to Dermavant, conditional based on the approval of tapinarof by the FDA. VTAMA (tapinarof) cream was approved by the FDA in May 2022. Refer to Note 17, “Subsequent Events” for more information.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Note 8—Related Party Transactions Sumitomo Dainippon Pharma Co., Ltd. In May 2021, the Company entered into an Asset Purchase Agreement with Sumitomo Dainippon Pharma Co., Ltd. (“Sumitomo”) and its subsidiary Sumitomo Pharmaceuticals (Suzhou) Co., Ltd. (“SPC”) (the “Asset Purchase Agreement”). The transactions contemplated by the Asset Purchase Agreement closed in June 2021. Pursuant to the Asset Purchase Agreement: (i) Sumitomo terminated all of its existing options to acquire the Company’s equity interests in certain of its subsidiaries (the “Sumitomo Options”); (ii) the Company transferred and assigned to SPC all of its intellectual property, development and commercialization rights for (a) lefamulin in Mainland China, Taiwan, Hong Kong, and Macau (collectively “Greater China”), (b) vibegron in Mainland China, (c) rodatristat ethyl in Greater China and South Korea and (d) RVT-802 Transition Services Agreement and Strategic Cooperation Agreement In December 2019, RSL and Sumitomo completed the transactions contemplated by the transaction agreement by and between RSL and Sumitomo, dated as of October 31, 2019 (the “Sumitomo Transaction Agreement”). Concurrent with entry into the Sumitomo Transaction Agreement, RSL and Sumitomo entered into the following agreements: (i) a transition services agreement (the “TSA”), pursuant to which the parties agreed to provide certain transitional services to one another at cost for a specified period of time following the closing date and (ii) a strategic cooperation agreement (the “SCA”), providing for certain technology-related collaborations. Pursuant to the terms of the TSA and the SCA, RSL billed Sumitomo $1.0 million and $1.4 million, net of amounts billed by Sumitomo to RSL, during the years ended March 31, 2022 and 2021, respectively. Additionally, during each of the years ended March 31, 2022 and 2021, the Company paid Sumitomo a $1.0 million DrugOme access fee pursuant to the SCA. On March 1, 2022, RSL and Sumitomo amended the SCA. In connection with the amendment, RSL agreed to pay Sumitomo an aggregate of $4.5 million. This consideration was expensed during the year ended March 31, 2022.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Shareholders' Equity	Note 9—Shareholders’ Equity (A) RSL Common Stock On September 30, 2021 in connection with the closing of the Business Combination, the Company effected a 2.9262-for-1 stock subdivision based on the fixed exchange ratio established in the Business Combination. All per share amounts and number of shares in the consolidated financial statements and related notes have been retroactively restated to reflect the stock split. Additionally, in connection with the closing of the Business Combination, the Company adjusted its authorized share capital to equal 7,000,000,000 c s 0.00000003 c s c s (B) Committed Equity Facility On February 14, 2022, the Company entered into a committed equity facility (the “Facility”) with an affiliate of Cantor Fitzgerald & Co. (“Cantor”). Under the terms of the Facility, Cantor has committed to purchase up to an aggregate of $250.0 million in the Company’s c s from time to time at the request of the Company, subject to certain limitations and the satisfaction of certain conditions. Any sales of the C c s to Cantor under the Facility will be made at 99% of the volume-weighted average price of the Company’s c s on Nasdaq on a given trading day. In consideration for entry into the Facility, the C c s . As of March 31, 2022, $250.0 million of the Company’s c s remained available for sale under the Facility. (C) Consolidated Vant Equity Transactions Immunovant In May 2020 and September 2020, Immunovant, Inc. achieved the first and second earnout milestones as defined in the share exchange agreement with Health Sciences Acquisitions Corporation. As a result, all of the 20,000,000 earnout shares of Immunovant, Inc.’s common stock were issued, including 17,547,938 shares of common stock issued to RSL. In April 2020, Immunovant, Inc. completed an underwritten public offering of 9,613,365 shares of its common stock, including 1,034,483 shares of common stock purchased by RSL, at a price of $14.50 per share for net proceeds to Immunovant, Inc. of approximately $131.0 million, after deducting underwriting discounts and commissions and offering expenses. The proceeds included $15.0 million received from RSL. In May 2020, Immunovant, Inc.’s 11,500,000 outstanding warrants became exercisable for an aggregate of 5,750,000 shares of Immunovant, Inc.’s common stock at a price of $11.50 per share. An aggregate of 11,438,290 outstanding warrants were exercised for an aggregate of 5,719,145 shares of Immunovant, Inc.’s common stock at a price of $11.50 per share, for net proceeds of approximately $65.8 million. The remaining 61,710 warrants were cancelled. In September 2020, Immunovant, Inc. completed an underwritten public offering of 6,060,606 shares of its common stock, including 380,000 shares of common stock purchased by RSL, at a price of $33.00 per share for net proceeds to Immunovant, Inc. of approximately $188.1 million, after deducting underwriting discounts and commissions and offering expenses. The proceeds included $12.5 million received from RSL. Proteovant In July 2021, Proteovant collected the subscription receivable relating to the second $100.0 million payment due under a subscription agreement entered into with SK, Inc. (“SK”) in December 2020 pursuant to which SK agreed to make a $200.0 million equity investment in Proteovant, representing an ownership interest of 40.0% on the closing date.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Note 10—Share-Based Compensation (A) Share-Based Compensation Expense Share-based compensation expense was as follows (in thousands): Years Ended March 31, 2022 2021 Share-based compensation expense recognized as: R&D expenses $ 63,735 $ 22,637 G&A expenses 501,221 62,321 Total $ 564,956 $ 84,958 The achievement of the liquidity event vesting condition for certain equity instruments upon the closing of the Business Combination resulted in the recognition of a one-time catch-up one-time catch-up (B) RSL Equity Incentive Plans RSL has three equity incentives plans: the Roivant Sciences Ltd. 2021 Equity Incentive Plan (the “RSL 2021 EIP”), the Roivant Sciences Ltd. Amended and Restated 2015 Equity Incentive Plan (the “RSL 2015 EIP”), and the Roivant Sciences Ltd. Amended and Restated 2015 Restricted Stock Unit Plan (the “2015R Plan”) (collectively, the “RSL Equity Plans”). The RSL 2021 EIP was approved and adopted in connection with the Business Combination and became effective immediately prior to closing. Since the effective date of the RSL 2021 EIP, no further stock awards have been or will be made under the RSL 2015 EIP. Additionally, no further stock awards will be made under the 2015R Plan. As of March 31, 2022, of the Company’s c s c s of the c s c s ten-year c s All RSL c s six-month lock-up lock-up Stock Options and Performance Stock Options Activity for stock options and performance stock options under the RSL Equity Plans for the year ended March 31, 2022 is as follows: Number of Weighted Weighted Aggregate Options outstanding at March 31, 2021 69,687,308 $ 11.64 5.89 Granted 12,181,127 $ 9.76 Exercised (101,436 ) $ 4.06 Forfeited/Canceled (1,402,095 ) $ 11.86 Options outstanding at March 31, 2022 80,364,904 $ 11.37 5.50 $ 1,899 Options exercisable at March 31, 2022 39,236,351 $ 11.15 4.70 $ 1,456 The aggregate intrinsic value is calculated as the difference between the exercise price of all outstanding and exercisable options and the fair value of the Company’s c stock non-vested million and is expected to be recognized over a weighted-average period of approximately At March 31, 2022 and 2021, there were 39,236,351 and 16,193,146 vested stock options and performance stock options, respectively. Vesting for performance stock options was subject to a liquidity event vesting requirement in addition to time-based service requirements. The liquidity event vesting requirement was met upon closing of the Business Combination on September 30, 2021. The Company estimated the fair value of each stock option on the date of grant using the Black-Scholes closed form option-pricing model applying the weighted average assumptions in the following table. No performance stock options were granted during the years ended March 31, 2022 and 2021. Years Ended March 31, Assumptions 2022 2021 Expected stock price volatility 81.70 % 74.84 % Expected risk free interest rate 1.13 % 0.43 % Expected term, in years 6.25 6.25 Expected dividend yield — % — % Additional information regarding stock options and performance stock options is set forth below (in thousands, except per share data). Years Ended March 31, 2022 2021 Intrinsic value of options exercised $ 89 $ — Grant date fair value of options vested $ 210,487 $ 25,711 Weighted-average grant date fair value per share of stock options granted $ 6.85 $ 8.67 Restricted Stock Units and Performance Stock Units Activity for restricted stock units and performance stock units under the RSL Equity Plans for the year ended March 31, 2022 is as follows: Number of Restricted Weighted Average Non-vested 7,294,028 $ 11.86 Granted 20,948,227 $ 10.44 Vested (5,111,550 ) $ 11.60 Forfeited (1,173,956 ) $ 10.79 Non-vested 21,956,749 $ 10.63 The total fair value of restricted stock units and performance stock units vested during the year ended March 31, 2022 was $59.3 million. Vesting for both restricted stock units and performance stocks units was subject to a liquidity event vesting requirement. There were no vested restricted stock units or performance stock units at March 31, 2021 as the liquidity event vesting requirement was not met until the closing of the Business Combination on September 30, 2021. Restricted stock units vest upon the achievement of time-based service requirements. The vesting of performance stock units requires that certain performance conditions are achieved during the performance period and is subject to continued service requirements. At March 31, 2022, total unrecognized compensation expense related to non-vested Capped Value Appreciation Rights March 2020 CVAR Grants In March 2020, the Company granted capped value appreciation rights (“CVARs”) that will pay at settlement the excess in shares of (a) the lesser of (i) the fair market value of a c s million of incremental fair value. Incremental fair value associated with CVARs that do not require further service for vesting was recognized in full on March 30, 2022. The Company will recognize the incremental fair value for CVARs that require future service for vesting over the remaining requisite service period. Activity for CVARs under the RSL 2015 EIP for the year ended March 31, 2022 is as follows: Number of CVARs Weighted Average Non-service-vested 32,447,626 $ 0.72 Granted — $ — Service-vested (18,213,910 ) $ 1.22 Forfeited (435,630 ) $ 0.40 Non-service-vested 13,798,086 $ 1.25 At March 31, 2022, there were 18,213,910 service-vested CVARs. The hurdle price was not satisfied for these service-vested CVARs and as such they remain outstanding. The total fair value of CVARs that service-vested during the year ended March 31, 2022 was $22.3 million. There were no service-vested CVARs at March 31, 2021 as the liquidity event vesting requirement was not met until the closing of the Business Combination on September 30, 2021. At March 31, 2022, total unrecognized compensation expense related to non-service-vested November 2021 CVAR Grants In November 2021, the Company made one-time c s Activity for CVARs under the RSL 2021 EIP for the year ended March 31, 2022 is as follows: Number of CVARs Weighted Average Non-vested — $ — Granted 6,317,350 $ 4.95 Forfeited (32,100 ) $ 4.71 Non-vested 6,285,250 $ 4.95 At March 31, 2022, total unrecognized compensation expense related to non-vested (C) Employee Stock Purchase Plan In September 2021, the Company adopted the Roivant Sciences Ltd. Employee Stock Purchase Plan (the “RSL ESPP”), which provides for the granting of an option to purchase c s c s 13,900,000. The total number of c s 13,900,000 c s one percent of the aggregate number of c s c s c s 147,447,650 c s (D) Subsidiary Equity Incentive Plans Certain wholly owned and majority-owned or controlled subsidiaries of RSL adopt their own equity incentive plan (“EIP”). Each EIP is generally structured so that the applicable subsidiary, and its affiliates’ employees, directors, officers and consultants are eligible to receive non-qualified

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 11—Income Taxes The loss before income taxes and the related expense/(benefit) are as follows (in thousands): Years Ended March 31, 2022 2021 Loss before income taxes: Bermuda (1) $ 390,831 $ (227,471 ) United States (747,953 ) (212,921 ) Switzerland (544,870 ) (424,494 ) Other (2) (21,755 ) (33,661 ) Total loss before income taxes $ (923,747 ) $ (898,547 ) (1) Primarily entities which are centrally managed and controlled in the United Kingdom (2) Primarily Greater China and United Kingdom activity Years Ended March 31, 2022 2021 Current taxes: Bermuda $ — $ — United States (223 ) 1,365 Switzerland — — Other (1) 592 321 Total current tax expense $ 369 $ 1,686 Deferred taxes: Bermuda $ — $ — United States — — Switzerland — — Other — — Total deferred tax benefit $ — $ — Total income tax expense $ 369 $ 1,686 (1) Primarily Greater China and United Kingdom activity A reconciliation of income tax provision/(benefit) computed at the Bermuda statutory rate to income tax expense reflected in the consolidated financial statements is as follows (in thousands, except percentages): Year Ended Year Ended Income tax benefit at Bermuda statutory rate $ — — % $ — — % Foreign rate differential (1) (179,000 ) 19.38 % (150,778 ) 16.78 % Permanent disallowed IPR&D 15,347 (1.66 )% 111,432 (12.40 )% Tax-effect 15,169 (1.64 )% (22,472 ) 2.50 % Nontaxable gain on sale of investment (84,313 ) 9.13 % — — % Nontaxable gain on deconsolidation of business (958 ) 0.10 % (16,438 ) 1.83 % Nondeductible executive compensation 25,973 (2.81 )% 905 (0.10 )% Tax deficiencies (excess tax benefits) from share-based compensation 12,918 (1.40 )% (439 ) 0.05 % Other permanent adjustments 10,912 (1.18 )% 2,457 (0.28 )% Research tax credits (10,113 ) 1.09 % (10,555 ) 1.17 % Valuation allowance 205,811 (22.28 )% 85,046 (9.46 )% Tax rate changes (2,444 ) 0.26 % 2,443 (0.27 )% Other (8,933 ) 0.97 % 85 (0.01 )% Total income tax expense $ 369 (0.04 )% $ 1,686 (0.19 )% (1) Primarily related to operations in the United States, Switzerland, the United Kingdom, and other jurisdictions with statutory tax rates different than the Bermuda rate. The Company’s effective tax rates for the years ended March 31, 2022 and 2021 was (0.04)% and (0.19)%, respectively, driven by the Company’s jurisdictional earnings by location and a valuation allowance that eliminates the Company’s global net deferred tax assets. Deferred taxes reflect the tax effects of the differences between the amounts recorded as assets and liabilities for financial reporting purposes and the comparable amounts recorded for income tax purposes. March 31, March 31, Deferred tax assets Research tax credits $ 27,155 $ 19,063 Intangible assets 61,544 50,564 Net operating loss 312,749 202,906 Share-based compensation 93,177 26,623 Lease liabilities 15,406 16,638 Other assets 20,651 7,303 Subtotal 530,682 323,097 Valuation allowance (512,736 ) (303,287 ) Deferred tax liabilities Depreciation (1,397 ) (1,214 ) Right-of-use (12,661 ) (13,908 ) Other liabilities (3,888 ) (4,688 ) Total deferred tax assets/(liabilities) $ — $ — The Company has Federal net operating losses in Switzerland, the United The Company assesses the realizability of the deferred tax assets at each balance sheet date based on available positive and negative evidence in order to determine the amount which is more likely than not to be realized and record a valuation allowance as necessary. Due to the Company’s cumulative loss position which provides significant negative evidence difficult to overcome, the Company has recorded a valuation allowance of $512.7 million as of March 31, 2022, representing the portion of the deferred tax asset that is not more likely than not to be realized. For the period April 1, 2021 through March 31, 2022, the valuation allowance increased by $209.4 million, primarily as a result of corresponding increases in our global net operating losses, as well as increased costs related to share-based compensation. The amount of the deferred tax asset considered realizable could be adjusted for future factors that would impact the assessment of the objective and subjective evidence of the Company. The Company will continue to assess the realizability of deferred tax assets at each balance sheet date in order to determine the amount, if any, required for a valuation allowance. There are outside basis differences related to the Company’s investment in subsidiaries for which no deferred taxes have been recorded as these would not be subject to tax on repatriation as Bermuda has no tax regime for Bermuda exempted limited companies, and the United Kingdom tax regime relating to company distributions and sales generally provides for exemption from tax for most overseas profits, subject to certain exceptions. The Company is subject to tax and is required to file United States, United Kingdom, and Switzerland federal income tax returns, as well as income tax returns in various state, local, and foreign jurisdictions. The Company is subject to tax examinations for tax years ended March 31, 2018 and forward in major taxing jurisdictions. Tax audits and examinations can involve complex issues, interpretations and judgments. The resolution of matters may span multiple years particularly if subject to litigation or negotiation. The Company believes it has appropriately recorded its tax position using reasonable estimates and assumptions, however, the potential tax benefits may impact the results of operations or cash flows in the period of resolution, settlement or when the statutes of limitations expire. The Company’s unrecognized tax benefit activity during the year ended March 31, 2022 was not material to the Company’s consolidated financial statements. There were no unrecognized tax benefits recorded as of March 31, 2021. No interest and penalties related to unrecognized tax benefits were recorded as of March 31, 2022 or March 31, 2021.

Leases

Leases	12 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Note 12—Leases The Company’s operating leases consist primarily of real estate leases, including those entered into by certain wholly owned and majority-owned or controlled subsidiaries of RSL. The components of operating lease expense for the Company were as follows (in thousands): Years Ended March 31, 2022 2021 Operating lease cost $ 13,649 $ 11,931 Short-term lease cost 326 237 Variable lease cost 1,227 704 Total operating lease cost $ 15,202 $ 12,872 Information related to the Company’s operating lease right-of-use assets and operating lease liabilities was as follows (in thousands, except periods and percentages): During the Year Ended March 31, 2022 2021 Cash paid for operating lease liabilities $ 14,403 $ 8,830 Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 6,035 $ 5,491 March 31, 2022 March 31, 202 1 Weighted average remaining lease term (in years) 9.0 9.6 Weighted average discount rate 7.0 % 7.1 % As of March 31, 2022, maturities of operating lease liabilities were as follows (in thousands): Years Ending March 31, 2023 $ 12,714 2024 12,672 2025 10,455 2026 9,363 2027 8,680 Thereafter 46,783 Total lease payments 100,667 Less: present value adjustment (24,996 ) Less: tenant improvement allowance (1,805 ) Total $ 73,866

Commitments & Contingencies

Commitments & Contingencies	12 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments & Contingencies	Note 13—Commitments and Contingencies (A) Commitments Long-Term Debt The Company is obligated to make contractual payments related to its long-term debt. Refer to Note 7, “Long-Term Debt and Loan Commitment” for further information. Lease Commitments The Company has operating leases, consisting primarily of real estate leases. Refer to Note 12, “Leases” for further information. Other Commitments In May 2021, the Company entered into a master subscription agreement with Palantir Technologies Inc. (“Palantir”) for access to Palantir’s proprietary software for a five-year period. As of March 31, 2022, the remaining minimum payments for this software subscription are $30.0 million. In November 2021, the Company’s subsidiary, Immunovant, Inc. (“Immunovant”), entered into a Product Service Agreement with Samsung Biologics Co., Ltd. (“Samsung”) by which Samsung will manufacture and supply Immunovant with batoclimab drug substance for commercial sale and perform other manufacturing-related services with respect to batoclimab. As of March 31, 2022, the minimum purchase commitment related to this agreement is estimated to be approximately $36.0 million. The Company, primarily through its subsidiaries, has entered into commitments under various asset acquisition and license agreements. Additionally, the Company through its subsidiaries enters into agreements with contract service providers to assist in the performance of its R&D activities. Expenditures to contract research organizations and contract manufacturing organizations represent significant costs in the clinical development of its product candidates. Subject to required notice periods and certain obligations under binding purchase orders, the Company can elect to discontinue the work under these agreements at any time. The Company expects to enter into additional collaborative research, contract research, manufacturing, and supplier agreements in the future, which may require upfront payments and long-term commitments of capital resources. (B) Loss Contingencies The Company may be, from time to time, a party to various disputes and claims arising from normal business activities. The Company accrues for loss contingencies when available information indicates that it is probable that a liability has been incurred and the amount of such loss can be reasonably estimated, and if the Company believes that a reasonably possible loss exists, the Company discloses the facts and circumstances of the litigation or claim, including an estimable range, if possible. The Company is currently not involved in any legal proceedings with a probable and estimable material loss. Immunovant As the Company’s subsidiary, Immunovant, has previously disclosed, in February 2021, a putative securities class action complaint was filed against Immunovant and certain of its current and former officers in the U.S. District Court for the Eastern District of New York on behalf of a class consisting of those who acquired Immunovant’s securities from October 2, 2019 and February 1, 2021. The complaint alleged that Immunovant and certain of its officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, by making false and misleading statements regarding the safety of batoclimab and seeks unspecified monetary damages on behalf of the putative class and an award of costs and expenses, including reasonable attorneys’ fees. On December 29, 2021, the U.S. District Court appointed a lead plaintiff. On February 1, 2022, the lead plaintiff filed an amended complaint adding both (i) the Company and (ii) Immunovant’s directors and underwriters as defendants, and asserting additional claims under Section 11, 12(a)(2), and 15 of the Securities Act of 1933, which was further amended by an amended complaint filed on March 15, 2022. On May 27, 2022, defendants, including the Company, filed motions to dismiss that amended complaint. The Company intends to vigorously defend the case and has not recorded a liability related to this lawsuit because, at this time, the Company is unable to reasonably estimate possible losses or determine whether an unfavorable outcome is either probable or remote. In March 2022, Acuitas Therapeutics Inc. filed a lawsuit in the U.S. District Court for the Southern District of New York against two of the Company’s affiliates, Genevant and Arbutus, seeking a declaratory judgment that U.S. Patents 8,058,069, 8,492,359, 8,822,668, 9,006,417, 9,364,435, 9,404,127, 9,504,651, 9,518,272, and 11,141,378 are not infringed by the manufacture, use, offer for sale, sale or importation into the United States of COMIRNATY, Pfizer’s and BioNTech’s vaccine for COVID-19 (C) Indemnification Agreements The Company is a party to a number of agreements entered into in the ordinary course of business that contain typical provisions that obligate the Company to indemnify the other parties to such agreements upon the occurrence of certain events. The aggregate maximum potential future liability of the Company under such indemnification provisions is uncertain. The Company also indemnifies each of its directors and officers for certain events or occurrences, subject to certain limits. The maximum amount of potential future indemnification is unlimited; however, the Company currently maintain director and officer liability insurance, which may cover certain liabilities arising from our obligation to indemnify our directors. The Company has not experienced any material losses related to these indemnification obligations, and no material claims with respect thereto were outstanding. To date, the Company has not incurred any material costs and have not accrued any liabilities related to such obligations in the consolidated financial statements as of March 31, 2022 and 2021.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Mar. 31, 2022
Roivant Sciences Ltd. [Member]
Fair Value Measurements	Note 14—Fair Value Measurements Recurring Fair Value Measurements The following table sets forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2022 and 2021, by level, within the fair value hierarchy (in thousands): As of March 31, 2022 As of March 31, 2021 Level 1 Level 2 Level 3 Balance as of Level 1 Level 2 Level 3 Balance as of Assets: Money market funds $ 1,297,844 $ — $ — $ 1,297,844 $ 1,420,597 $ — $ — $ 1,420,597 Investment in Datavant Class A units — — 193,963 193,963 — — — — Investment in Sio common shares 12,447 — — 12,447 48,487 — — 48,487 Investment in Arbutus common shares 115,765 — — 115,765 53,325 — — 53,325 Investment in Arbutus convertible preferred shares — — — — — 76,037 — 76,037 Other investments 3,659 — — 3,659 11,129 — — 11,129 Total assets at fair value $ 1,429,715 $ — $ 193,963 $ 1,623,678 $ 1,533,538 $ 76,037 $ — $ 1,609,575 Liabilities: Debt issued by Dermavant to NovaQuest $ — $ — $ 177,400 $ 177,400 $ — $ — $ 150,100 $ 150,100 Liability instruments measured at fair value (1) 18,019 — 26,893 44,912 — — 67,893 67,893 Total liabilities at fair value $ 18,019 $ — $ 204,293 $ 222,312 $ — $ — $ 217,993 $ 217,993 (1) At March 31, 2022, Level 1 includes the fair value of the Public Warrants of $18.0 million, and Level 3 includes the fair value of the Earn-Out There were no transfers of assets between Level 1 and Level 2 of the fair value measurement hierarchy that occurred during the years ended March 31, 2022 and 2021. Level 3 Disclosures The Company measures its Level 3 assets and liabilities at fair value based on significant inputs not observable in the market, which causes them to be classified as a Level 3 measurement within the fair value hierarchy. The valuation of the Level 3 assets and liabilities uses assumptions and estimates the Company believes would be made by a market participant in making the same valuation. The Company assesses these assumptions and estimates on an ongoing basis as additional data impacting the assumptions and estimates are obtained. Changes in the fair value related to updated assumptions and estimates are recorded within the statements of operations at the end of each reporting period. The fair value of Level 3 assets and liabilities may change significantly as additional data are obtained, impacting the Company’s assumptions regarding probabilities of potential scenarios used to estimate fair value. In evaluating this information, considerable judgment is required to interpret the data used to develop the assumptions and estimates. Accordingly, the use of different market assumptions and/or different valuation techniques may have a material effect on the estimated fair value amounts, and such changes could materially impact the Company’s results of operations in future periods. The changes in fair value of the Level 3 assets during the year ended March 31, 2022 were as follows (in thousands): Balance at March 31, 2021 $ — Fair value of investment in Datavant at recognition date 224,147 Changes in fair value of investment in Datavant, included in net loss (30,184 ) Balance at March 31, 2022 $ 193,963 There were no Level 3 assets held during the year ended March 31, 2021. The changes in fair value of the Level 3 liabilities during the years ended March 31, 2022 and 2021 were as follows (in thousands): Balance at March 31, 2020 $ 191,473 Changes in fair value of debt and liability instruments, included in net loss 29,845 Liability instruments disposed due to deconsolidation of subsidiary (3,325 ) Balance at March 31, 2021 217,993 Fair value of liability instrument issued 38,634 Changes in fair value of debt and liability instruments, included in net loss 9,226 Settlements (88 ) Termination of DSP Options (61,472 ) Balance at March 31, 2022 $ 204,293 Investment in Datavant The Company elected the fair value option to account for the investment in Datavant. The estimate of fair value for this investment was determined using the income approach and implementation of the option pricing method (“OPM”). The OPM allows for the allocation of a company’s equity value among the various equity capital owners (preferred and common shareholders). The OPM uses the preferred shareholders’ liquidation preferences, participation rights, dividend policy, and conversion rights to determine how proceeds from a liquidity event shall be distributed among the various ownership classes at a future date. The fair value was calculated using significant unobservable inputs including the following: Point Estimate Used Input As of March 31, 2022 Volatility 110.0 % Risk-free rate 1.62 % Debt issued by Dermavant to NovaQuest The fair value of the debt instrument as of March 31, 2022 and 2021 represents the fair value of amounts payable to NovaQuest using the Monte Carlo simulation method under the income approach determined by using probability assessments of the expected future payments through 2032 and applying discount rates ranging from 10 12 Earn-Out The fair value of the Earn-Out lock-up Earn-Out Earn-Out Point Estimate Used Input As of March 31, 2022 Volatility 82.3% Risk-free rate 2.43% As of March 31, 2022, the fair value of the Earn-Out Earn-Out Private Placement Warrants The fair value of the Private Placement Warrants issued as part of the Business Combination was calculated using the Monte Carlo simulation method under the income approach. The model was structured to incorporate the redemption features as discussed in Note 3, “Business Combination with MAAC” and the added restriction by which the Company cannot redeem the Private Warrants if the Reference Value is greater than $18.00. Significant unobservable inputs used to calculate the fair value of the Private Placement Warrants included the following: Point Estimate Used Input As of March 31, 2022 Volatility 56.5% Risk-free rate 2.43% Term (in years) 4.50 As of March 31, 2022, the fair value of the Private Placement Warrants was $9.1 million. The Private Placement Warrants are included in “Liability instruments measured at fair value” in the accompanying consolidated balance sheets. Sumitomo Options Prior to termination in June 2021, the fair value of the options to acquire the Company’s interest in certain of its subsidiaries, which were granted to Sumitomo under the Sumitomo Transaction Agreement, was calculated using significant unobservable inputs including the following: Range or Point Input As of March 31, 2021 Time to expiration (in years) 3.59 Risk-free rate 0.52% Volatility 89.0% - 95.0 % In June 2021, the Company completed a transaction with Sumitomo pursuant to which Sumitomo terminated all of its existing options to acquire the Company’s equity interests in certain subsidiaries. As of March 31, 2021, the fair value of the Sumitomo Options was $62.4 million, which is included in “Liability instruments measured at fair value” in the accompanying consolidated balance sheets. See Note 8, “Related Party Transactions” for additional information.

Other Expense, Net

Other Expense, Net	12 Months Ended
	Mar. 31, 2022
Other Income and Expenses [Abstract]
Other Expense, Net	Note 15—Other Expense, Net Other expense, net was as follows (in thousands): Years Ended March 31, 2022 2021 Loss from equity method investment $ — $ 3,750 Interest income (369 ) (1,418 ) Interest expense 7,041 2,809 Other (income) expense (3,237 ) 3,560 Total $ 3,435 $ 8,701

Net Loss per Common Share

Net Loss per Common Share	12 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Loss per Common Share	Note 16—Net Loss per Common Share Basic net loss per common share is computed by dividing net loss attributable to Roivant Sciences Ltd. by the weighted-average number of common stock outstanding during the period. Diluted net loss per common share is computed by dividing the net loss attributable to Roivant Sciences Ltd. by the diluted weighted-average number of common stock outstanding during the period. For periods of loss, diluted loss per share is calculated similar to basic loss per share as the effect of including all potentially dilutive common stock equivalents is anti-dilutive. All outstanding common stock equivalents have been excluded from the computation of diluted loss per share because their effect was anti-dilutive due to the net loss. As of March 31, 2022 and 2021, potentially dilutive securities were as follows: March 31, 2022 March 31, 2021 Stock options and performance stock options 80,364,904 69,687,308 Restricted stock units and performance stock units (non-vested) 21,956,749 7,294,028 March 2020 CVARs (1) 32,011,996 32,447,626 November 2021 CVARs 6,285,250 — Restricted c stock (non-vested) 741,405 1,720,090 Earn-Out (non-vested) 3,080,387 — Private Placement Warrants 10,214,365 — Public Warrants 20,475,875 — Other instruments issued 5,103,577 5,458,543 (1) Refer to Note 10, “Share-Based Compensation” for details regarding settlement of CVARs.

Subsequent Events

Subsequent Events	12 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 17—Subsequent Events In May 2022, VTAMA (tapinarof) cream was approved by the FDA as the first and only FDA-approved Following the approval of VTAMA cream by the FDA in May 2022, Dermavant received $160.0 million in June 2022 pursuant to the terms of the RIPSA as described in Note 7, “Long-Term Debt and Loan Commitment.” Also, as a result of FDA approval, Dermavant achieved a regulatory milestone to GSK of £100.0 million (approximately $126 million on the date of achievement), which will be paid within 70 calendar days of FDA approval. Additionally, the first sale of VTAMA cream in May 2022 resulted in the achievement of a milestone to Welichem Biotech Inc. of CAD$ 25.0 million (approximately $20 million on the date of achievement), which will be paid within 60 calendar days of the invoice date. Dermavant intends to primarily use the RIPSA proceeds for the payment of these obligations.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2022
Basis of Presentation and Principles of Consolidation	(A) Basis of Presentation and Principles of Consolidation The Company’s fiscal year ends on March 31, and its fiscal quarters end on June 30, September 30, and December 31. The accompanying audited consolidated financial statements and notes thereto have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Any references in these notes to applicable accounting guidance are meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The consolidated financial statements include the accounts of RSL and the subsidiaries in which it has a controlling financial interest, most often through a majority voting interest. All intercompany balances and transactions have been eliminated in consolidation. For consolidated entities where the Company owns or is exposed to less than 100% of the economics, the Company records net loss attributable to noncontrolling interests in its consolidated statements of operations equal to the percentage of common stock ownership interest retained in the respective operations by the noncontrolling parties. The Company presents noncontrolling interests as a component of shareholders’ equity on its consolidated balance sheets. The Company accounts for changes in its ownership interest in its subsidiaries while control is retained as equity transactions. The carrying amount of the noncontrolling interest is adjusted to reflect the change in RSL’s ownership interest in the subsidiary. Any difference between the fair value of the consideration received or paid and the amount by which the noncontrolling interest is adjusted is recognized within shareholders’ equity attributable to RSL.
Use of Estimates	(B) Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company regularly evaluates estimates and assumptions related to assets, liabilities, costs, expenses, contingent liabilities, share-based compensation and research and development costs. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. Additionally, the Company assessed the impact that the COVID-19 pandemic has had on its operations and financial results as of March 31, 2022 and through the issuance of these consolidated financial statements. The Company’s analysis was informed by the facts and circumstances as they were known to the Company. This assessment considered the impact COVID-19 may have on financial estimates and assumptions that affect the reported amounts of assets and liabilities and expenses.
Concentrations	(C) Concentrations Financial instruments that potentially subject the Company to concentration of credit risk include cash and cash equivalents. The Company maintains cash deposits and cash equivalents in highly-rated, federally-insured financial institutions in excess of federally insured limits. The Company has established guidelines relative to diversification and maturities to maintain safety and liquidity. The Company has not experienced any credit losses related to these financial instruments and does not believe that it is exposed to any significant credit risk related to these instruments. T he Company has long-lived assets in different geographic locations. As of March 31, 2022 and 2021, a majority of the Company’s long-lived assets were located in the United States.
Cash, Cash Equivalents, and Restricted Cash	(D) Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents include cash deposits in banks and all highly liquid investments that are readily convertible to cash. The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Restricted cash classified as a current asset consists of legally restricted non-interest bearing deposit accounts relating to the Company’s corporate credit card programs. Restricted cash classified as a long-term asset consists of restricted deposit accounts related to irrevocable standby letters of credit. As of March 31, 2021, restricted cash classified as a current asset included $ million held in escrow for the purpose of fulfilling certain indemnification obligations. The full escrow amount of $ million was disbursed to the Company in June 2021. Cash as reported in the accompanying consolidated statements of cash flows includes the aggregate amounts of cash, cash equivalents, and restricted cash as presented on the accompanying consolidated balance sheets as follows (in thousands): March 31, 2022 March 31, 2021 Cash and cash equivalents $ 2,060,400 $ 2,055,044 Restricted cash 13,634 86,632 Cash, cash equivalents and restricted cash $ 2,074,034 $ 2,141,676
Contingencies	(E) Contingencies The Company may be, from time to time, a party to various disputes and claims arising from normal business activities. The Company continually assesses any litigation or other claims it may confront to determine if an unfavorable outcome would lead to a probable loss or reasonably possible loss which could be estimated. The Company accrues for all contingencies at the earliest date at which the Company deems it probable that a liability has been incurred and the amount of such liability can be reasonably estimated. If the estimate of a probable loss is a range and no amount within the range is more likely than another, the Company accrues the minimum of the range. In the cases where the Company believes that a reasonably possible loss exists, the Company discloses the facts and circumstances of the litigation, including an estimable range, if possible.
Property and Equipment	(F) Property and Equipment Property and equipment, consisting primarily of computers, laboratory and other equipment, furniture and fixtures, software, and leasehold improvements, is recorded at cost, less accumulated depreciation. Maintenance and repairs that do not improve or extend the lives of the respective assets are expensed to operations as incurred. Upon disposal, retirement or sale, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in the results of operations. Depreciation of property and equipment is recorded using the straight-line method over the estimated useful lives of the related assets once the asset has been placed in service. Leasehold improvements are amortized using the straight-line method over the estimated useful life or remaining lease term, whichever is shorter. The following table provides the range of estimated useful lives used for each asset type: Property and Equipment Estimated Useful Life Computers 3 years Laboratory and other equipment 5 - 10 years Furniture and fixtures 7 years Software 3 years Leasehold improvements Lesser of estimated useful life or remaining lease term The Company reviews the recoverability of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset might not be recoverable. Recoverability is measured by comparison of the book values of the assets to the future net undiscounted cash flows that the assets are expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the book value of the assets exceed their fair value, which is measured based on the projected discounted future net cash flows arising from the assets.
Investments	(G ) Investments Investments in equity securities may be accounted for using (i) the fair value option if elected, (ii) fair value through earnings if fair value is readily determinable or (iii) for equity investments without readily determinable fair values, the measurement alternative to measure at cost adjusted for any impairment and observable price changes, as applicable. The election to use the measurement alternative is made for each eligible investment. The Company has elected the fair value option to account for certain investments over which the Company has significant influence. The Company believes the fair value option best reflects the underlying economics of the investment. See Note 4, “Investments.”
Research and Development Expenses	(H) Research and Development Expenses Research and development (“R&D”) costs are expensed as incurred. Preclinical and clinical study costs are accrued over the service periods specified in the contracts and adjusted as necessary based upon an ongoing review of the level of effort and costs actually incurred. R&D costs primarily consist of costs associated with preclinical studies and clinical trials, including amounts paid to contract research organizations, contract manufacturing organizations, and other third parties that conduct R&D activities on behalf of the Company, as well as employee-related expenses, such as salaries, share-based compensation, and benefits, for employees engaged in R&D activities.
Acquired In-Process Research and Development Expenses	(I) Acquired In-Process For the year ended March 31, 2022, the Company began reporting acquired in-process research and development (“IPR&D”) expense as a separate line item in its consolidated statements of operations. Acquired IPR&D expenses include consideration for the purchase of IPR&D through asset acquisitions and license agreements as well as payments made in connection with asset acquisitions and license agreements upon the achievement of development milestones. These expenses were previously recorded in “Research and development” on the consolidated statements of operations. Prior periods have been revised to conform to the current period presentation. The Company evaluates in-licensed agreements for in-process research and development projects (“IPR&D”) to determine if it meets the definition of a business and thus should be accounted for as a business combination. If the in-licensed agreement for IPR&D does not meet the definition of a business and the assets have not reached technological feasibility and therefore have no alternative future use, the Company expenses payments made under such license agreements as acquired in-process research and development expense in its consolidated statements of operations. Payments for milestones achieved and payments for a product license prior to regulatory approval of the product are expensed in the period incurred. Milestone payments made in connection with regulatory approvals are capitalized and amortized to cost of revenue over the remaining useful life of the asset.
General and Administrative Expenses	(J) General and Administrative Expenses General and administrative (“G&A”) expenses consist primarily of employee-related expenses for G&A personnel, including those responsible for the identification and acquisition or in-license relating to corporate matters and daily operations. G&A expenses include costs incurred relating to the identification, acquisition or in-license and technology transfer of promising drug candidates along with costs incurred relating to the integration of new technologies.
Leases	(K) Leases The Company determines if an arrangement includes a lease at the inception of the agreement. For each of the Company’s lease arrangements, the Company records a right-of-use asset representing the Company’s right to use an underlying asset for the lease term and a lease liability representing the Company’s obligation to make lease payments. Operating lease right-of-use assets and operating lease liabilities are recognized at the lease commencement date based on the estimated present value of fixed lease payments over the expected lease term. If the interest rate implicit in the Company’s leases is not readily determinable, in determining the weighted-average discount rate used to calculate the net present value of lease payments, the Company utilizes an estimate of its incremental borrowing rate. The Company’s incremental borrowing rates are determined based on the term of the lease, the economic environment of the lease, and the effect of collateralization. Lease expense for the Company’s operating leases is recognized on a straight-line basis over the lease term and variable lease costs are expensed as incurred. The Company elected the practical expedient not to apply the recognition and measurement requirements to short-term leases, which is any lease with a term of one year or less as of the lease commencement date. Leases may require the Company to pay additional amounts for taxes, insurance, maintenance, and other expenses, which are generally referred to as non-lease components. The Company has elected the practical expedient to combine lease and non-lease components. If a lease includes options to extend the lease term, the Company does not assume the option will be exercised in its initial lease term assessment unless there is reasonable certainty that the Company will renew based on an assessment of economic factors present as of the lease commencement date.
Income Taxes	(L) Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and the respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded when, after consideration of all positive and negative evidence, it is not more likely than not that the Company’s deferred tax assets will be realizable. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of its net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances.
Share-Based Compensation	(M) Share-Based Compensation Share-based awards to employees, directors, and consultants, including stock options, restricted stock units, performance options and capped value appreciation rights, are measured at fair value on the date of the grant and that fair value is recognized as share-based compensation expense in the Company’s consolidated statements of operations over the requisite service period of the respective award. The estimated fair value of awards that contain performance conditions is expensed when the Company concludes that it is probable that the performance condition will be achieved. The Company may grant awards with graded-vesting features. When such awards have only service vesting requirements, the Company elected to record share-based compensation expense on a straight-line basis. If awards with graded-vesting features contain performance or market conditions, then the Company records share-based compensation expense using the accelerated attribution method. The Company measures the fair value of its stock options that only have service vesting requirements or performance-based options without market conditions using the Black-Scholes option pricing model. For performance-based awards with market conditions, the Company determines the fair value of the awards as of the grant date using a Monte Carlo simulation model. When determining the grant-date fair value of stock-based awards, management further considers whether an adjustment is required to the observable market price or volatility of the Company’s common stock that is used in the valuation as a result of material non-public Certain assumptions need to be made with respect to utilizing the Black-Scholes option pricing model, including the expected life of the award, volatility of the underlying shares, the risk-free interest rate and the fair value of the Company’s shares of common stock. Since the Company has limited option exercise history, it has generally elected to estimate the expected life of an award based upon the “simplified method” with the continued use of this method extended until such time the Company has sufficient exercise history. The risk-free interest rate is based on the rates paid on securities issued by the U.S. Treasury with a term approximating the expected life of the equity award. The expected share price volatility for the Company’s common shares is estimated by taking the average historical price volatility for industry peers. The Company accounts for pre-vesting One of the inputs to the Black-Scholes option pricing model is the fair value of the Company’s common shares. Prior to the closing of its business combination with MAAC, as a privately held company, the Company estimated the fair value of the shares of common stock underlying its share-based awards on each grant date. Given the absence of a public trading market, and in accordance with the American Institute of Certified Public Accountants’ Practice Guide, Valuation of Privately-Held-Company Equity Securities Issued as Compensation, the Company exercised reasonable judgment and considered numerous objective and subjective factors to determine its best estimate of the fair value of its common shares. The estimation of the fair value of the common shares considered factors including the following: the prices of the Company’s common shares sold to investors in arm’s length transactions; the estimated present value of the Company’s future cash flows; the Company’s business, financial condition and results of operations; the Company’s forecasted operating performance; the illiquid nature of the Company’s common shares; industry information such as market size and growth; market capitalization of comparable companies and the estimated value of transactions such companies have engaged in; and macroeconomic conditions. The Company applies a similar methodology to estimate the fair value of the shares of common stock underlying share-based awards issued by its privately held Vants. Following the closing of the Company’s business combination with MAAC, RSL’s common shares became publicly traded and the Company began determining the fair value of each common share underlying share-based awards based on the closing price of its common shares as reported by Nasdaq on the date of grant. Therefore, it will not be necessary to determine the fair value of the new stock-based award pursuant to the methodology described above.
Fair Value Measurements	(N) Fair Value Measurements The Company utilizes fair value measurement guidance prescribed by accounting standards to value its financial instruments. The guidance establishes a fair value hierarchy for financial instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s own assumptions (unobservable inputs). Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. Fair value is defined as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. As a basis for considering market participant assumptions in fair value measurements, the guidance establishes a three-tier fair value hierarchy that distinguishes among the following: • Level 1-Valuations • Level 2-Valuations • Level 3-Valuations To the extent the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The Company’s financial instruments include shares of common stock of Arbutus Biopharma Corporation (“Arbutus”); shares of common stock of Sio Gene Therapies Inc. (“Sio”); shares of common stock of Heracles Parent, L.L.C., the parent entity of Datavant (as defined and discussed in Note 4, “Investments”); liability instruments issued, including the Roivant Warrants and Earn-Out The shares of Arbutus and Sio common stock and investments in common stock with a readily determinable fair value are classified as Level 1, and their fair value is determined based upon quoted market prices in an active market. In October 2021, shares of Arbutus’ Series A participating convertible preferred shares (“Arbutus Preferred Shares”) held by the Company were converted into shares of common stock of Arbutus pursuant to mandatory conversion provisions. Prior to conversion, the Arbutus Preferred Shares held by the Company were classified as Level 2 as the fair value of such preferred shares was determined based upon the quoted market price of Arbutus common stock into which such preferred shares were convertible. The shares of common stock of Heracles Parent, L.L.C., the parent entity of Datavant (as defined and discussed in Note 4, “Investments”), and liability instruments issued, excluding the Public Warrants (as defined and discussed in Note 3, “Business Combination with MAAC”), are classified as Level 3 within the fair value hierarchy as the assumptions and estimates used in the valuations are unobservable in the market. The Public Warrants are publicly traded and therefore are classified as Level 1 as the Public Warrants have a readily determinable fair value. Cash, accounts payable, and the deferred consideration liability are stated at their respective historical carrying amounts, which approximate fair value due to their short-term nature. The deferred consideration liability was based on a fixed monetary amount, and payment was based solely on the passage of time. The deferred consideration liability was settled in November 2021 by payment of $50.0 million in cash as well as the issuance of 6,348,057 of the Company’s c s fair value option has been elected is included in Level 3 of the fair value hierarchy as the assumptions and estimates used in the valuation are unobservable in the market.
Foreign Currency	(O) Foreign Currency Assets and liabilities of foreign operations are translated using exchange rates in effect at the balance sheet date and their results of operations are translated using average exchange rates for the year. Certain transactions of the Company and its subsidiaries are denominated in currencies other than their functional currency. Adjustments resulting from the translation of the financial statements of the Company’s foreign functional currency subsidiaries into U.S. dollars are excluded from the determination of net loss and are accumulated in a separate component of shareholders’ equity. Foreign exchange transaction gains and losses are included in “Other expense, net” in the Company’s statements of operations.
Revenue Recognition	(P) Revenue Recognition The Company recognizes revenue when its customer obtains The Company applies significant judgment when evaluating whether contractual obligations represent distinct performance obligations, allocating transaction price to performance obligations within a contract, determining when performance obligations have been met, assessing the recognition and future reversal of variable consideration, and determining and applying appropriate methods of measuring progress for performance obligations satisfied over time. These judgments are discussed in more detail below. • Licenses of intellectual property: non-refundable, non-refundable, • Milestone payments: re-evaluates catch-up • Royalties and commercial milestone payments: pre-specified recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Achievement of these royalties and commercial milestones may solely depend upon performance of the licensee. Revenue is also generated by certain technology-focused Vants from subscription and service-based fees recognized for the use of certain technology developed by these Vants. Subscription revenue is recognized ratably over the contract period. Trade Receivables, Net The Company monitors the financial performance and creditworthiness of its customers so that it can properly assess and respond to changes in customer credit profiles. The Company reserves against trade receivables for estimated losses that may arise from a customer’s inability to pay, and any amounts determined to be uncollectible are written off against the reserve when it is probable that the receivable will not be collected. The reserve amount for estimated losses was de minimis as of March 31, 2022 and 2021. Trade receivables, net is included in “Other current assets” on the accompanying consolidated balance sheets.
Warrant Liabilities	(Q) Warrant Liabilities The Company classifies the Roivant Warrants as liabilities. At the end of each reporting period, changes in fair value during the period are recognized within the consolidated statements of operations. The Company will continue to adjust the carrying value of the liability associated with the Roivant Warrants for changes in the fair value until the earlier of a) the exercise or expiration of the Roivant Warrants or b) the redemption of the Roivant Warrants. Issuance costs incurred that were attributable to the Roivant Warrants were expensed as incurred.
Recently Adopted Accounting Pronouncements	(R) Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, 470-20) 815-40): No. 2020-06”). No. 2020-06 No. 2020-06 No. 2020-06 No. 2020-06

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of Aggregate Amounts of Cash, Cash Equivalents, and Restricted Cash	Cash as reported in the accompanying consolidated statements of cash flows includes the aggregate amounts of cash, cash equivalents, and restricted cash as presented on the accompanying consolidated balance sheets as follows (in thousands): March 31, 2022 March 31, 2021 Cash and cash equivalents $ 2,060,400 $ 2,055,044 Restricted cash 13,634 86,632 Cash, cash equivalents and restricted cash $ 2,074,034 $ 2,141,676
Schedule of Estimated Useful Lives Used for Asset Type	The following table provides the range of estimated useful lives used for each asset type: Property and Equipment Estimated Useful Life Computers 3 years Laboratory and other equipment 5 - 10 years Furniture and fixtures 7 years Software 3 years Leasehold improvements Lesser of estimated useful life or remaining lease term

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Mar. 31, 2022
Accrued Liabilities and Other Liabilities [Abstract]
Schedule of Accrued Expenses	Accrued expenses at March 31, 2022 and 2021 consisted of the following (in thousands): March 31, March 31, Research and development expenses $ 66,188 $ 20,755 Compensation-related expenses 44,262 38,552 Other general and administrative expenses 17,081 17,629 Total accrued expenses $ 127,531 $ 76,936

Long-Term Debt and Loan Commi_2

Long-Term Debt and Loan Commitment (Tables)	12 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long Term Debt	Long-term debt, net consists of the following (in thousands): March 31, March 31, Principal amount $ 217,400 $ 170,100 Exit fee / end of term charge 5,000 1,390 Less: unamortized debt discount and issuance costs (12,375 ) (1,210 ) Total debt, net 210,025 170,280 Less: current portion — — Total long-term debt, net $ 210,025 $ 170,280
Schedule of Company's Annual Payments	Annual maturities, including the exit fee, of debt outstanding as of March 31, 2022 are as follows (in thousands). Long term debt issued by Dermavant for which the fair value option has been elected is excluded from the below as the repayment terms are variable. Years Ending March 31, 2023 $ — 2024 — 2025 — 2026 — 2027 45,000 Thereafter — Total $ 45,000

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Mar. 31, 2022
Schedule of Fair Value Assumptions	The Company estimated the fair value of each stock option on the date of grant using the Black-Scholes closed form option-pricing model applying the weighted average assumptions in the following table. No performance stock options were granted during the years ended March 31, 2022 and 2021. Years Ended March 31, Assumptions 2022 2021 Expected stock price volatility 81.70 % 74.84 % Expected risk free interest rate 1.13 % 0.43 % Expected term, in years 6.25 6.25 Expected dividend yield — % — %
Summary of Stock Option Activity	Activity for stock options and performance stock options under the RSL Equity Plans for the year ended March 31, 2022 is as follows: Number of Weighted Weighted Aggregate Options outstanding at March 31, 2021 69,687,308 $ 11.64 5.89 Granted 12,181,127 $ 9.76 Exercised (101,436 ) $ 4.06 Forfeited/Canceled (1,402,095 ) $ 11.86 Options outstanding at March 31, 2022 80,364,904 $ 11.37 5.50 $ 1,899 Options exercisable at March 31, 2022 39,236,351 $ 11.15 4.70 $ 1,456
Summary of Restricted Stock Units	Activity for restricted stock units and performance stock units under the RSL Equity Plans for the year ended March 31, 2022 is as follows: Number of Restricted Weighted Average Non-vested 7,294,028 $ 11.86 Granted 20,948,227 $ 10.44 Vested (5,111,550 ) $ 11.60 Forfeited (1,173,956 ) $ 10.79 Non-vested 21,956,749 $ 10.63
Summary of Fair Value of Vested Stock Option	Additional information regarding stock options and performance stock options is set forth below (in thousands, except per share data). Years Ended March 31, 2022 2021 Intrinsic value of options exercised $ 89 $ — Grant date fair value of options vested $ 210,487 $ 25,711 Weighted-average grant date fair value per share of stock options granted $ 6.85 $ 8.67
Summary of Share-Based Compensation Expense	Share-based compensation expense was as follows (in thousands): Years Ended March 31, 2022 2021 Share-based compensation expense recognized as: R&D expenses $ 63,735 $ 22,637 G&A expenses 501,221 62,321 Total $ 564,956 $ 84,958
CVARs [Member] | 2015 EIP [Member]
Summary of Capped Value Appreciation Rights	Activity for CVARs under the RSL 2015 EIP for the year ended March 31, 2022 is as follows: Number of CVARs Weighted Average Non-service-vested 32,447,626 $ 0.72 Granted — $ — Service-vested (18,213,910 ) $ 1.22 Forfeited (435,630 ) $ 0.40 Non-service-vested 13,798,086 $ 1.25
CVARs [Member] | 2021 EIP [Member]
Summary of Capped Value Appreciation Rights	Activity for CVARs under the RSL 2021 EIP for the year ended March 31, 2022 is as follows: Number of CVARs Weighted Average Non-vested — $ — Granted 6,317,350 $ 4.95 Forfeited (32,100 ) $ 4.71 Non-vested 6,285,250 $ 4.95

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Loss Before Income Taxes and Related Expense/(Benefit)	The loss before income taxes and the related expense/(benefit) are as follows (in thousands): Years Ended March 31, 2022 2021 Loss before income taxes: Bermuda (1) $ 390,831 $ (227,471 ) United States (747,953 ) (212,921 ) Switzerland (544,870 ) (424,494 ) Other (2) (21,755 ) (33,661 ) Total loss before income taxes $ (923,747 ) $ (898,547 ) (1) Primarily entities which are centrally managed and controlled in the United Kingdom (2) Primarily Greater China and United Kingdom activity Years Ended March 31, 2022 2021 Current taxes: Bermuda $ — $ — United States (223 ) 1,365 Switzerland — — Other (1) 592 321 Total current tax expense $ 369 $ 1,686 Deferred taxes: Bermuda $ — $ — United States — — Switzerland — — Other — — Total deferred tax benefit $ — $ — Total income tax expense $ 369 $ 1,686
Reconciliation of Federal Statutory Income Taxes Rate	A reconciliation of income tax provision/(benefit) computed at the Bermuda statutory rate to income tax expense reflected in the consolidated financial statements is as follows (in thousands, except percentages): Year Ended Year Ended Income tax benefit at Bermuda statutory rate $ — — % $ — — % Foreign rate differential (1) (179,000 ) 19.38 % (150,778 ) 16.78 % Permanent disallowed IPR&D 15,347 (1.66 )% 111,432 (12.40 )% Tax-effect 15,169 (1.64 )% (22,472 ) 2.50 % Nontaxable gain on sale of investment (84,313 ) 9.13 % — — % Nontaxable gain on deconsolidation of business (958 ) 0.10 % (16,438 ) 1.83 % Nondeductible executive compensation 25,973 (2.81 )% 905 (0.10 )% Tax deficiencies (excess tax benefits) from share-based compensation 12,918 (1.40 )% (439 ) 0.05 % Other permanent adjustments 10,912 (1.18 )% 2,457 (0.28 )% Research tax credits (10,113 ) 1.09 % (10,555 ) 1.17 % Valuation allowance 205,811 (22.28 )% 85,046 (9.46 )% Tax rate changes (2,444 ) 0.26 % 2,443 (0.27 )% Other (8,933 ) 0.97 % 85 (0.01 )% Total income tax expense $ 369 (0.04 )% $ 1,686 (0.19 )% (1) Primarily related to operations in the United States, Switzerland, the United Kingdom, and other jurisdictions with statutory tax rates different than the Bermuda rate.
Schedule of Company's net deferred tax assets	Significant components of the deferred tax assets (liabilities) at March 31, 2022 and 2021 are as follows (in thousands): March 31, March 31, Deferred tax assets Research tax credits $ 27,155 $ 19,063 Intangible assets 61,544 50,564 Net operating loss 312,749 202,906 Share-based compensation 93,177 26,623 Lease liabilities 15,406 16,638 Other assets 20,651 7,303 Subtotal 530,682 323,097 Valuation allowance (512,736 ) (303,287 ) Deferred tax liabilities Depreciation (1,397 ) (1,214 ) Right-of-use (12,661 ) (13,908 ) Other liabilities (3,888 ) (4,688 ) Total deferred tax assets/(liabilities) $ — $ —

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Operating Lease Costs	The components of operating lease expense for the Company were as follows (in thousands): Years Ended March 31, 2022 2021 Operating lease cost $ 13,649 $ 11,931 Short-term lease cost 326 237 Variable lease cost 1,227 704 Total operating lease cost $ 15,202 $ 12,872
Summary of Operating Lease ROU Assets and Operating Lease Liabilities	Information related to the Company’s operating lease right-of-use assets and operating lease liabilities was as follows (in thousands, except periods and percentages): During the Year Ended March 31, 2022 2021 Cash paid for operating lease liabilities $ 14,403 $ 8,830 Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 6,035 $ 5,491 March 31, 2022 March 31, 202 1 Weighted average remaining lease term (in years) 9.0 9.6 Weighted average discount rate 7.0 % 7.1 %
Schedule of Maturities of Operating Lease Liabilities	As of March 31, 2022, maturities of operating lease liabilities were as follows (in thousands): Years Ending March 31, 2023 $ 12,714 2024 12,672 2025 10,455 2026 9,363 2027 8,680 Thereafter 46,783 Total lease payments 100,667 Less: present value adjustment (24,996 ) Less: tenant improvement allowance (1,805 ) Total $ 73,866

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Mar. 31, 2022
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table sets forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2022 and 2021, by level, within the fair value hierarchy (in thousands): As of March 31, 2022 As of March 31, 2021 Level 1 Level 2 Level 3 Balance as of Level 1 Level 2 Level 3 Balance as of Assets: Money market funds $ 1,297,844 $ — $ — $ 1,297,844 $ 1,420,597 $ — $ — $ 1,420,597 Investment in Datavant Class A units — — 193,963 193,963 — — — — Investment in Sio common shares 12,447 — — 12,447 48,487 — — 48,487 Investment in Arbutus common shares 115,765 — — 115,765 53,325 — — 53,325 Investment in Arbutus convertible preferred shares — — — — — 76,037 — 76,037 Other investments 3,659 — — 3,659 11,129 — — 11,129 Total assets at fair value $ 1,429,715 $ — $ 193,963 $ 1,623,678 $ 1,533,538 $ 76,037 $ — $ 1,609,575 Liabilities: Debt issued by Dermavant to NovaQuest $ — $ — $ 177,400 $ 177,400 $ — $ — $ 150,100 $ 150,100 Liability instruments measured at fair value (1) 18,019 — 26,893 44,912 — — 67,893 67,893 Total liabilities at fair value $ 18,019 $ — $ 204,293 $ 222,312 $ — $ — $ 217,993 $ 217,993 (1) At March 31, 2022, Level 1 includes the fair value of the Public Warrants of $18.0 million, and Level 3 includes the fair value of the Earn-Out
Schedule of Change IN Fair Value Of The Level 3 Assets	The changes in fair value of the Level 3 assets during the year ended March 31, 2022 were as follows (in thousands): Balance at March 31, 2021 $ — Fair value of investment in Datavant at recognition date 224,147 Changes in fair value of investment in Datavant, included in net loss (30,184 ) Balance at March 31, 2022 $ 193,963
Schedule of change in the fair value of the derivative warrant liabilities	There were no Level 3 assets held during the year ended March 31, 2021. The changes in fair value of the Level 3 liabilities during the years ended March 31, 2022 and 2021 were as follows (in thousands): Balance at March 31, 2020 $ 191,473 Changes in fair value of debt and liability instruments, included in net loss 29,845 Liability instruments disposed due to deconsolidation of subsidiary (3,325 ) Balance at March 31, 2021 217,993 Fair value of liability instrument issued 38,634 Changes in fair value of debt and liability instruments, included in net loss 9,226 Settlements (88 ) Termination of DSP Options (61,472 ) Balance at March 31, 2022 $ 204,293
Private Placement Warrants [Member]
Schedule of Fair Value of Significant Unobservable Inputs Using Valuation Techniques	The fair value of the Private Placement Warrants issued as part of the Business Combination was calculated using the Monte Carlo simulation method under the income approach. The model was structured to incorporate the redemption features as discussed in Note 3, “Business Combination with MAAC” and the added restriction by which the Company cannot redeem the Private Warrants if the Reference Value is greater than $18.00. Significant unobservable inputs used to calculate the fair value of the Private Placement Warrants included the following: Point Estimate Used Input As of March 31, 2022 Volatility 56.5% Risk-free rate 2.43% Term (in years) 4.50
Earnout Shares [Member]
Schedule of Fair Value of Significant Unobservable Inputs Using Valuation Techniques	The fair value of the Earn-Out lock-up Earn-Out Earn-Out Point Estimate Used Input As of March 31, 2022 Volatility 82.3% Risk-free rate 2.43%
Datavant [Member]
Schedule of Fair Value of Significant Unobservable Inputs Using Valuation Techniques	The Company elected the fair value option to account for the investment in Datavant. The estimate of fair value for this investment was determined using the income approach and implementation of the option pricing method (“OPM”). The OPM allows for the allocation of a company’s equity value among the various equity capital owners (preferred and common shareholders). The OPM uses the preferred shareholders’ liquidation preferences, participation rights, dividend policy, and conversion rights to determine how proceeds from a liquidity event shall be distributed among the various ownership classes at a future date. The fair value was calculated using significant unobservable inputs including the following: Point Estimate Used Input As of March 31, 2022 Volatility 110.0 % Risk-free rate 1.62 %
Sumitomo Options [Member]
Schedule of Fair Value of Significant Unobservable Inputs Using Valuation Techniques	Prior to termination in June 2021, the fair value of the options to acquire the Company’s interest in certain of its subsidiaries, which were granted to Sumitomo under the Sumitomo Transaction Agreement, was calculated using significant unobservable inputs including the following: Range or Point Input As of March 31, 2021 Time to expiration (in years) 3.59 Risk-free rate 0.52% Volatility 89.0% - 95.0 %

Other Expense, Net (Tables)

Other Expense, Net (Tables)	12 Months Ended
	Mar. 31, 2022
Other Income and Expenses [Abstract]
Summary of Other Expense, Net From Continuing Operations	Other expense, net was as follows (in thousands): Years Ended March 31, 2022 2021 Loss from equity method investment $ — $ 3,750 Interest income (369 ) (1,418 ) Interest expense 7,041 2,809 Other (income) expense (3,237 ) 3,560 Total $ 3,435 $ 8,701

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	12 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Summary of potentially dilutive securities	As of March 31, 2022 and 2021, potentially dilutive securities were as follows: March 31, 2022 March 31, 2021 Stock options and performance stock options 80,364,904 69,687,308 Restricted stock units and performance stock units (non-vested) 21,956,749 7,294,028 March 2020 CVARs (1) 32,011,996 32,447,626 November 2021 CVARs 6,285,250 — Restricted c stock (non-vested) 741,405 1,720,090 Earn-Out (non-vested) 3,080,387 — Private Placement Warrants 10,214,365 — Public Warrants 20,475,875 — Other instruments issued 5,103,577 5,458,543 (1) Refer to Note 10, “Share-Based Compensation” for details regarding settlement of CVARs.

Description of Business and L_2

Description of Business and Liquidity - Additional Information (Detail) $ in Thousands		12 Months Ended
		Mar. 31, 2022 USD ($) Segment	Mar. 31, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating and reporting segments | Segment		1
Cash and cash equivalents		$ 2,060,400	$ 2,055,044
Accumulated deficit	[1]	(2,763,724)	(1,918,462)
Net loss	[1]	$ (924,116)	$ (900,233)
[1]Retroactively restated for the stock subdivision as described in Note 3.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	Nov. 01, 2021	Jun. 30, 2021	Mar. 31, 2021
Schedule Of Accounting Policies [Line Items]
Escrowed deposit			$ 75
Proceeds from release of escrow deposit		$ 75
Cash paid to settle deferred consideration liability	$ 50
Common Stock [Member]
Schedule Of Accounting Policies [Line Items]
Stock issued during period shares to settle deferred consideration liability	6,348,057

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Aggregate Amounts of Cash, Cash Equivalents, and Restricted Cash (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 2,060,400	$ 2,055,044
Restricted cash	13,634	86,632
Cash, cash equivalents and restricted cash	$ 2,074,034	$ 2,141,676

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives (Detail)	12 Months Ended
	Mar. 31, 2022
Computer [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Laboratory and other equipment | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years
Laboratory and other equipment | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Software [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	Lesser of estimated useful life or remaining lease term

Business Combination with MAAC

Business Combination with MAAC - Additional Information (Detail) $ / shares in Units, $ in Thousands		12 Months Ended
		Mar. 31, 2022 USD ($) $ / shares shares	Mar. 31, 2021 USD ($)	May 31, 2021 $ / shares
Business Combination with M A A C [Line Items]
Exercise price of warrants (in dollars per share)				$ 0.01
Stock Issued During Period, Value, New Issues | $	[1]	$ 57,167	$ 301,744
Common Stock Warrants | shares		60,021
Roivant Common Shares [Member]
Business Combination with M A A C [Line Items]
Stockholders Equity Note Stock Split Exchange Ratio 1		2.9262
Roivant Common Shares [Member] | Sponsor Support Agreement [Member] | Share Price Equal or Exceeds Fifteen Dollar [Member]
Business Combination with M A A C [Line Items]
Number of trading days to meet earn out price threshold		20 days
Trading day period for earn out shares		30 days
Earn-Out share price		$ 15
Roivant Common Shares [Member] | Sponsor Support Agreement [Member] | Share Price Equal or Exceeds Twenty Dollar [Member]
Business Combination with M A A C [Line Items]
Trading day period for earn out shares		30 days
Earn-Out share price		$ 20
MAAC Independent Director [Member] | Sponsor Support Agreement [Member] | Share Price Equal or Exceeds Fifteen Dollar [Member]
Business Combination with M A A C [Line Items]
Stock Issued During Period, Shares, New Issues | shares		10,000
MAAC Independent Director [Member] | Sponsor Support Agreement [Member] | Share Price Equal or Exceeds Twenty Dollar [Member]
Business Combination with M A A C [Line Items]
Stock Issued During Period, Shares, New Issues | shares		5,000
MAAC Sponsor [Member] | Sponsor Support Agreement [Member] | Share Price Equal or Exceeds Fifteen Dollar [Member]
Business Combination with M A A C [Line Items]
Stock Issued During Period, Shares, New Issues | shares		2,033,591
MAAC Sponsor [Member] | Sponsor Support Agreement [Member] | Share Price Equal or Exceeds Twenty Dollar [Member]
Business Combination with M A A C [Line Items]
Stock Issued During Period, Shares, New Issues | shares		1,016,796
MAAC Sponsor [Member] | Roivant Common Shares [Member] | Sponsor Support Agreement [Member] | Share Price Equal or Exceeds Fifteen Dollar [Member]
Business Combination with M A A C [Line Items]
Portion of Share Subject to Earnout		20%
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Sponsor Support Agreement [Member] | Share Price Equal or Exceeds Twenty Dollar [Member]
Business Combination with M A A C [Line Items]
Portion of Share Subject to Earnout		20%
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Sponsor Support Agreement [Member] | Share Price Equal or Exceeds Ten Dollar [Member]
Business Combination with M A A C [Line Items]
Portion of Share Subject to Earnout		10%
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Roivant Common Shares [Member] | Lock Up Period One [Member]
Business Combination with M A A C [Line Items]
Percentage of shares subject to lock-up for defined period of time		25%
Lock Up Period of Common Shares		6 months
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Roivant Common Shares [Member] | Lock Up Period Two [Member]
Business Combination with M A A C [Line Items]
Percentage of shares subject to lock-up for defined period of time		25%
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Roivant Common Shares [Member] | Lock Up Period Two [Member] | Minimum [Member]
Business Combination with M A A C [Line Items]
Lock Up Period of Common Shares		12 months
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Roivant Common Shares [Member] | Lock Up Period Two [Member] | Maximum [Member]
Business Combination with M A A C [Line Items]
Lock Up Period of Common Shares		6 years
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Roivant Common Shares [Member] | Lock Up Period Three [Member]
Business Combination with M A A C [Line Items]
Percentage of shares subject to lock-up for defined period of time		50%
Lock Up Period of Common Shares		36 months
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Roivant Common Shares [Member] | Lock Up Period Four [Member]
Business Combination with M A A C [Line Items]
Percentage of warrants subject to lock-up for defined period of time		25%
Lock up period ,warrants		6 months
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Roivant Common Shares [Member] | Lock Up Period Five [Member]
Business Combination with M A A C [Line Items]
Percentage of warrants subject to lock-up for defined period of time		25%
Lock up period ,warrants		12 months
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Roivant Common Shares [Member] | Lock Up Period Six [Member]
Business Combination with M A A C [Line Items]
Percentage of warrants subject to lock-up for defined period of time		50%
Lock up period ,warrants		36 months
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Roivant Common Shares [Member] | Lock Up Period Seven [Member]
Business Combination with M A A C [Line Items]
Percentage of shares subject to lock-up for defined period of time		25%
Lock Up Period of Common Shares		6 months
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Roivant Common Shares [Member] | Lock Up Period Eight [Member]
Business Combination with M A A C [Line Items]
Percentage of shares subject to lock-up for defined period of time		25%
Lock Up Period of Common Shares		12 months
MAAC Sponsor [Member] | MAAC Independent Director [Member] | Roivant Common Shares [Member] | Lock Up Period Nine [Member]
Business Combination with M A A C [Line Items]
Percentage of shares subject to lock-up for defined period of time		50%
Lock Up Period of Common Shares		36 months
Roivant Warrant [Member]
Business Combination with M A A C [Line Items]
Time To Warrant Exercisability		30 days
Warrants and Rights Outstanding, Term		5 years
Private Placement Warrants [Member]
Business Combination with M A A C [Line Items]
Exercise price of warrants (in dollars per share)		$ 11.5
Class of Warrant or Right, Outstanding | shares		10,214,365
Private Placement Warrants [Member] | Share Price Equal or Exceeds Eighteen Per Dollar [Member]
Business Combination with M A A C [Line Items]
Stock price trigger for redemption of warrant		$ 18
Public Warrants [Member]
Business Combination with M A A C [Line Items]
Exercise price of warrants (in dollars per share)		$ 11.5
Class of Warrant or Right, Outstanding | shares		20,535,896
Redemption of Roivant Warrants [Member] | Share Price Equal or Exceeds Eighteen Per Dollar [Member]
Business Combination with M A A C [Line Items]
Stock price trigger for redemption of warrant		$ 18
Number of trading days to meet warrant redemption threshold		20 days
Trading day period for warrant redemption		30 days
Class of warrants, redemption price per unit		$ 0.01
Class of warrants, redemption notice period		30 days
Redemption of Roivant Warrants [Member] | Share Price Equal or Exceeds Ten Dollar [Member]
Business Combination with M A A C [Line Items]
Stock price trigger for redemption of warrant		$ 10
Class of warrants, redemption price per unit		$ 0.1
Class of warrants, redemption notice period		30 days
Redemption of Roivant Warrants [Member] | Roivant Common Shares [Member]
Business Combination with M A A C [Line Items]
Period for fair market value determination		10 days
Maximum redemption feature per warrant		$ 0.361
Maac Class A Shares [Member] | Roivant Warrant [Member]
Business Combination with M A A C [Line Items]
Exercise price of warrants (in dollars per share)		11.5
Common Class A [Member] | Share Price Equal or Exceeds Eighteen Dollar [Member]
Business Combination with M A A C [Line Items]
Share Redemption Trigger Price		$ 18
Common Class A [Member] | Roivant Warrant [Member]
Business Combination with M A A C [Line Items]
Time To Warrant Exercisability		30 days
Montes Archimedes Acquisition Corp. [Member]
Business Combination with M A A C [Line Items]
Stockholders Equity Note Stock Split Exchange Ratio 1		2.9262
Allocation of transaction costs incurred to warrants and earn-out shares | $		$ 7,400
Montes Archimedes Acquisition Corp. [Member] | PIPE Financing [Member]
Business Combination with M A A C [Line Items]
Stock Issued During Period, Shares, New Issues | shares		22,000,000
Share Price		$ 10
Stock Issued During Period, Value, New Issues | $		$ 220,000
Cash received | $		213,400
Costs Incurred Related To Financing | $		$ 24,400
Montes Archimedes Acquisition Corp. [Member] | Maac Class B Shares [Member] | Roivant Common Shares [Member]
Business Combination with M A A C [Line Items]
Exchange Ratio Of MAAC Class B To Roivant Common Shares		0.75
[1]Retroactively restated for the stock subdivision as described in Note 3.

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jul. 27, 2021	Mar. 31, 2022	Mar. 31, 2021	Oct. 31, 2021	Jul. 31, 2020	Apr. 30, 2020	Oct. 31, 2017
Investments [Line Items]
Aggregate fair value investment		$ 325,834	$ 188,978
Carrying value of long-term investment		$ 0	$ 100,563
Common stock acquired		694,975,965	651,576,293
Datavant Merger [Member]
Investments [Line Items]
Proceeds from sale of investment	$ 320,000
Gain on measurement of investment		$ 443,800
Datavant Merger [Member] | Combined Company [Member]
Investments [Line Items]
Equity method investment ownership percentage		17%
Other Investments [Member]
Investments [Line Items]
Aggregate fair value investment		$ 3,700	$ 11,100
Arbutus Biopharma Corporation [Member]
Investments [Line Items]
Preferred stock Owned, Balance, Shares of Arbutus							1,164,000
Aggregate fair value investment		115,800	129,400
Unrealized gain (loss) on investments		$ (13,600)	$ 90,200
Closing price of common stock		$ 2.98	$ 3.33
Equity method investment ownership percentage		26%
Common stock acquired							16,013,540
Investment owned conversion includes both preferred stock and common stock				22,833,922
Sio Gene Therapies Inc [Member]
Investments [Line Items]
Aggregate fair value investment		$ 12,400	$ 48,500
Unrealized gain (loss) on investments		$ (36,100)	$ 3,200
Closing price of common stock		$ 0.67	$ 2.61
Equity method investment ownership percentage		25%
Datavant Holdings, Inc [Member]
Investments [Line Items]
Aggregate fair value investment	$ 224,100	$ 193,900				$ 99,000
Unrealized gain (loss) on investments		$ (30,200)
Gain on deconsolidation			$ 86,500
Carrying value of long-term investment					$ 100,600

Asset Acquisitions and Licens_2

Asset Acquisitions and License Agreements -Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands

1 Months Ended

12 Months Ended

Jul. 31, 2020

Nov. 30, 2021

Sep. 30, 2021

Mar. 31, 2021

Jan. 31, 2021

Dec. 31, 2020

Nov. 30, 2020

Jul. 31, 2020

Apr. 30, 2018

Mar. 31, 2022

Mar. 31, 2021

Jun. 30, 2020

Business Acquisition [Line Items]

Stock issued, value

[1]

$ 57,167

$ 301,744

Gain (loss) on remeasurement of investment

(87,291)

95,533

Acquired in process research and development expense

$ 82,100

139,894

596,132

Share-based compensation expense

564,956

84,958

Pharmanvanth Seven Gmbh [Member]

Business Acquisition [Line Items]

Acquired in process research and development expense

14,100

Stock Issued During Period, Value, Acquisitions

$ 6,100

Stock shares issued during the period asset acquisition

874,957

Stock shares issued value during the period asset acquisition

$ 6,100

Payable for each additional product indication

18,000

Pharmanvanth Seven Gmbh [Member] | Commercial Milestone [Member]

Business Acquisition [Line Items]

Milestone payment payable

295,000

Pharmanvanth Seven Gmbh [Member] | Development And Regulatory Milestone [Member]

Business Acquisition [Line Items]

Milestone payment payable

65,000

Hemavant Sciences GmbH [Member]

Business Acquisition [Line Items]

Payments to asset acquisition

8,000

Asset acquisition, Consideration Transferred, Equity Interests Issued and Issuable

$ 7,000

Shares Issued, Price Per Share

$ 8

Silicon Therapeutics [Member]

Business Acquisition [Line Items]

Number of shares issued in business combination

21,409,764

Business combination, recognized identifiable assets acquired and liabilities assumed, current liabilities, accounts payable

$ 281,700

281,700

Silicon Therapeutics [Member] | First Tranche [Member]

Business Acquisition [Line Items]

Asset acquisition, consideration transferred, liabilities incurred

350,000

Silicon Therapeutics [Member] | Second Tranche [Member]

Business Acquisition [Line Items]

Number of shares issued in business combination

6,348,057

Priovant [Member]

Business Acquisition [Line Items]

Asset acquisition, consideration transferred, liabilities incurred

2,100

Silicon Therapeutics [Member]

Business Acquisition [Line Items]

Business acquisition, consideration transferred

450,000

Acquired in process research and development expense

399,600

Payment to acquire business, net

14,000

15,600

Business Acquisition, recognized identifiable assets acquired and liabilities assumed, assets

402,400

402,400

Stock Issued During Period, Value, Acquisitions

105,100

Share-based compensation expense

23,500

Fair value of common shares

22,600

22,600

Fair value of restricted stock

15,600

Stock shares issued value during the period asset acquisition

105,100

Silicon Therapeutics [Member] | Second Tranche [Member]

Business Acquisition [Line Items]

Business acquisition, consideration transferred

$ 100,000

Cash Payment

$ 50,000

Priovant [Member]

Business Acquisition [Line Items]

Payments to asset acquisition

10,000

Acquired in process research and development expense

82,100

Stock Issued During Period, Value, Acquisitions

70,000

Stock shares issued value during the period asset acquisition

$ 70,000

Genevant Sciences Ltd [Member]

Business Acquisition [Line Items]

Equity ownership interest, additional cash contribution

$ 38,700

Notes receivable, related parties

$ 20,100

Stock issued

74,272,043

Stock issued, value

$ 20,500

Aggregate principal amount of notes converted

$ 15,100

Notes converted, shares issued

54,526,549

Percentage controlling interest

82.90%

82.90%

Investment, fair value

28,800

28,800

Gain (loss) on remeasurement of investment

28,800

Fair value of noncontrolling interests

9,200

9,200

Cash paid for common shares

20,500

Business acquisition, consideration transferred

$ 58,500

Acquired in process research and development expense

41,400

Genevant Sciences Ltd [Member] | Arbutus Biopharma Corporation [Member]

Business Acquisition [Line Items]

Stock issued

9,057,566

Stock issued, value

$ 2,500

ProteoVant Sciences, Inc [Member]

Business Acquisition [Line Items]

Payments to asset acquisition

101,200

Future development and commercial milestone payments

$ 100,000

Aggregate principal amount of notes converted

$ 11,500

Acquired in process research and development expense

116,500

Upfront proceeds

105,000

Payment under SRA

15,500

Settlement of promissory notes receivable

11,900

Fair value of future contingent consideration payments

$ 3,400

$ 3,400

Equity investment

$ 200,000

Ownership interest

40%

Subscription receivable

$ 100,000

ProteoVant Sciences, Inc [Member] | Collaboration Agreement With Blueprint Medicines [Member]

Business Acquisition [Line Items]

Nonrefundable, upfront payment

20,000

Collaboration Agreement Additional Contingent Milestone Payments Eligible To Receive

632,000

Deferred revenue

$ 20,000

ProteoVant Sciences, Inc [Member] | First Product First Product for Each Molecular Target Covered by Intellectual Property [Member] | Maximum

Business Acquisition [Line Items]

Future development and commercial milestone payments

8,600

ProteoVant Sciences, Inc [Member] | First Product Targets Targeting Each of Two Specified Initial Targets [Member] | Maximum

Business Acquisition [Line Items]

Future development and commercial milestone payments

100,000

ProteoVant Sciences, Inc [Member] | First Product Targets Each of Certain Specified Additional MolecularTargets [Member] | Maximum

Business Acquisition [Line Items]

Future development and commercial milestone payments

51,000

Affivant Sciences [Member]

Business Acquisition [Line Items]

Payments to asset acquisition

40,000

Newly issued shares

20,000

Affivant Sciences [Member] | Maximum

Business Acquisition [Line Items]

Future development and commercial milestone payments

$ 2,000,000

[1]Retroactively restated for the stock subdivision as described in Note 3.

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Accrued Liabilities [Line Items]
Total accrued expenses	$ 127,531	$ 76,936
R&D Expenses [Member]
Accrued Liabilities [Line Items]
Total accrued expenses	66,188	20,755
Employee Related Expenses [Member]
Accrued Liabilities [Line Items]
Total accrued expenses	44,262	38,552
Other General and Administrative Expenses [Member]
Accrued Liabilities [Line Items]
Total accrued expenses	$ 17,081	$ 17,629

Long-Term Debt and Loan Commi_3

Long-Term Debt and Loan Commitment - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	May 31, 2021	Mar. 31, 2021
Long-term Debt, Unclassified [Abstract]
Principal amount	$ 217,400		$ 170,100
Exit fee / end of term charge	5,000	$ 5,000	1,390
Less: unamortized debt discount and issuance costs	(12,375)		(1,210)
Total debt, net	210,025		170,280
Less: current portion	0		0
Total long term debt, net	$ 210,025		$ 170,280

Long-Term Debt and Loan Commi_4

Long-Term Debt and Loan Commitment - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended
	May 01, 2021	May 31, 2021	Mar. 31, 2022	Mar. 31, 2021	May 31, 2019	Oct. 31, 2018	Aug. 31, 2018
Debt Instrument [Line Items]
Debt principal amount					$ 20,000
Debt interest rate					9.95%
Debt Instrument, Fee Amount		$ 4,000			$ 1,400
Debt Instrument Exit Fee and End of Term Charge		$ 5,000	$ 5,000	$ 1,390
Proceeds from credit facility	$ 40,000
Interest rate	10%
Debt Instrument, Term	5 years
Class of warrants or rights number of shares called by each warrant or right		1,199,072
Class of Warrant or Right, Exercise Price per share		$ 0.01
Revenue Interest Purchase and Sale Agreement [Member]
Debt Instrument [Line Items]
Securities Purchased under Agreements to Resell		$ 160,000
Committed funding under RIPSA		$ 344,000
Prime Rate [Member]
Debt Instrument [Line Items]
Debt interest rate					4.45%
NovaQuest Agreement [Member]
Debt Instrument [Line Items]
Debt principal amount						$ 17,500	$ 100,000
Debt fair value			177,400	$ 150,100
NovaQuest Agreement [Member] | Regulatory Milestone [Member]
Debt Instrument [Line Items]
Maximum amount required milestone payments							440,600
Possible offset of regulatory milestone payments with commercial milestone							88,100
Milestone payment due over six year period			$ 176,300
NovaQuest Agreement [Member] | Commercial Milestone [Member]
Debt Instrument [Line Items]
Maximum amount required milestone payments							$ 141,000

Long-Term Debt and Loan Commi_5

Long-Term Debt and Loan Commitment - Schedule of Company's Annual Payments (Detail) $ in Thousands	Mar. 31, 2022 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2023	$ 0
2024	0
2025	0
2026	0
2027	45,000
Thereafter	0
Total	$ 45,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Mar. 01, 2022	Mar. 31, 2022	Mar. 31, 2021	May 31, 2021
Related Party Transaction [Line Items]
Gain on termination of Sumitomo Options		$ 66,472	$ 0
Asset Purchase Agreement [Member]
Related Party Transaction [Line Items]
Consideration received in cash				$ 5,000
Gain on termination of Sumitomo Options		66,500
Transition Services And Strategic Cooperation Agreement [Member]
Related Party Transaction [Line Items]
Cost incurred and recorded as offsets to general and administrative expenses		1,000	1,400
Sumitomo [Member] | Transition Services And Strategic Cooperation Agreement [Member]
Related Party Transaction [Line Items]
Access fee paid pursuant to strategic cooperation agreement		$ 1,000	$ 1,000
Agreement related to amendment terms additional consideration received by subsidiary	$ 4,500

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) $ / shares in Units, $ in Millions			1 Months Ended			12 Months Ended
		Feb. 14, 2022 USD ($) shares	Sep. 30, 2020 USD ($) $ / shares shares	May 31, 2020 USD ($) $ / shares shares	Apr. 30, 2020 USD ($) $ / shares shares	Mar. 31, 2022 USD ($) $ / shares shares	Mar. 31, 2021 $ / shares shares	Jul. 01, 2021 USD ($)	May 31, 2021 $ / shares	Dec. 31, 2020 USD ($)
Class of Stock [Line Items]
Warrant exercise price per share | $ / shares									$ 0.01
Common stock issued						694,975,965	651,576,293
Common stock, shares authorized						7,000,000,000	7,000,000,000
Common stock, par or stated value per share | $ / shares						$ 0.00	$ 0.00
Cantor Fitzgerald Co. [Member]
Class of Stock [Line Items]
Purchase Obligation | $		$ 250
Percentage of common shares volume-weighted average price		99%
Upfront commitment fee number of shares issued | shares		145,986
Common Shares Value Available For Sale | $						$ 250
Sk [Member]
Class of Stock [Line Items]
Subscription Received | $								$ 100
Equity Method Investments | $										$ 200
Equity Method Investment, Ownership Percentage										40%
Common Shares [Member]
Class of Stock [Line Items]
Public offering shares of common stock	[1]					7,369,000	21,077,155
Roivant Common Shares [Member]
Class of Stock [Line Items]
Common stock, shares authorized						7,000,000,000
Common stock, par or stated value per share | $ / shares						$ 0.00
Common Stock, Voting Rights						one vote
Stockholders Equity Note Stock Split Exchange Ratio 1						2.9262
Underwritten Public Offering [Member] | Common Shares [Member]
Class of Stock [Line Items]
Public offering shares of common stock			380,000		1,034,483
Net proceeds of common stock | $			$ 12.5		$ 15
Immunovant, Inc [Member] | Warrant
Class of Stock [Line Items]
Number of outstanding warrants				5,750,000		5,719,145
Warrant exercise price per share | $ / shares				$ 11.5
Number of exercisable outstanding warrants				11,500,000		11,438,290
Proceeds of warrants | $				$ 65.8
Class Of Warrant Or Right Canceled				61,710
Immunovant, Inc [Member] | Underwritten Public Offering [Member] | Common Shares [Member]
Class of Stock [Line Items]
Common stock per share | $ / shares			$ 33		$ 14.5
Public offering shares of common stock			6,060,606		9,613,365
Net proceeds of common stock | $			$ 188.1		$ 131
Immunovant Sciences Ltd [Member]
Class of Stock [Line Items]
Common stock issued			20,000,000				17,547,938
[1]Retroactively restated for the stock subdivision as described in Note 3.

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($)	1 Months Ended		12 Months Ended
	Nov. 30, 2021	Sep. 30, 2021	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense			$ 564,956,000	$ 84,958,000
Fair value of options			$ 210,487,000	$ 25,711,000
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares reserved for future issuance			13,900,000
Percentage of outstanding stock increase			1%
Increment of employee stock purchase plan			13,900,000
Employee stock purchase plan maximum number of common shares issuable			147,447,650
Achievement Of Liquidity Event Vesting Condition Upon Closing Of Business Combination [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
One time catch up expense		$ 372,900,000
Stock Options And Performance Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted-average service period			2 years 7 months 17 days
Unrecognized compensation expense			$ 149,700,000
Stock options exercisable			39,236,351	16,193,146
Restricted Stock Units And Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted-average service period			2 years 11 months 19 days
Unrecognized compensation expense			$ 155,800,000
Fair value of options			59,300,000	$ 0
Subsidiary Equity Incentive Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense			47,400,000	$ 29,100,000
March 2020 CVARs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incremental fair value after march two thousand and twenty capped value appreciation rights amendment.			$ 16,900,000
2015 EIP [Member] | CVARs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted-average service period			1 year 8 months 26 days
Unrecognized compensation expense			$ 10,100,000
Service-vested			18,213,910	0
Total fair value of CVARs that service-vested during the year			$ 22,300,000
Subsidiary EIPs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense			$ 134,500,000
2021 EIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares reserved for future issuance			59,373,756
Common shares available for grant			69,300,000
Percentage of outstanding stock increase			5%
2021 EIP [Member] | CVARs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based award weighted average intrinsic value of equity instruments other than options granted	6,317,350

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Fair Value Assumptions (Detail) - Stock Option [Member]	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	81.70%	74.84%
Expected risk free interest rate	1.13%	0.43%
Expected term	6 years 3 months	6 years 3 months
Expected dividend yield	0%	0%

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Fair Value of Vested Stock Option (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Intrinsic value of options exercised	$ 89	$ 0
Grant date fair value of stock options vested	$ 210,487	$ 25,711
Weighted-average grant date fair value per share of stock options granted	$ 6.85	$ 8.67

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Restricted Stock Units (Detail) - Restricted Stock And Performance Stock Units [Member] - R S L Equity Plans Member	12 Months Ended
	Mar. 31, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested balance, beginning | shares	7,294,028
Granted | shares	20,948,227
Vested | shares	(5,111,550)
Forfeited | shares	(1,173,956)
Non-vested balance, ending | shares	21,956,749
Weighted Average Grant Date Fair Value, Beginning balance | $ / shares	$ 11.86
Weighted Average Grant Date Fair Value, Granted | $ / shares	10.44
Weighted Average Grant Date Fair Value, vested | $ / shares	11.6
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	10.79
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 10.63

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Performance Options Activity (Detail) - Stock options and performance stock options [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding , Options exercisable	39,236,351	16,193,146
R S L Equity Plans Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding ,Beginning balance	69,687,308
Options Granted	12,181,127
Exercised	(101,436)
Options Forfeited	(1,402,095)
Stock options outstanding , Ending balance	80,364,904	69,687,308
Stock options outstanding , Options exercisable	39,236,351
Weighted average exercise price, Beginning balance	$ 11.64
Weighted average exercise price, Granted	9.76
Weighted average exercise price, Exercised	4.06
Weighted average exercise price, Forfeited/Canceled	11.86
Weighted average exercise price, Ending balance	11.37	$ 11.64
Weighted average exercise price, Options exercisable	$ 11.15
Weighted Average Remaining Contractual Life	5 years 6 months	5 years 10 months 20 days
Weighted Average Remaining Contractual Life , Options exercisable	4 years 8 months 12 days
Aggregate Intrinsic Value , Ending balance	$ 1,899
Aggregate Intrinsic Value , Options exercisable	$ 1,456

Share-Based Compensation - Su_4

Share-Based Compensation - Summary of Capped Value Appreciation Rights (Detail) - CVARs [Member] - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
2015 EIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested balance, beginning	32,447,626
Granted	0
Forfeited	(435,630)
Vested	(18,213,910)	0
Non-vested balance, ending	13,798,086	32,447,626
Non-vested units, Beginning balance	$ 0.72
Weighted average grant date fair value, Granted	0
Weighted average grant date fair value, forfeited	0.4
Non-vested units , Ending balance	1.25	$ 0.72
Weighted average grant date fair value, Service-vested	$ 1.22
2021 EIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested balance, beginning	0
Granted	6,317,350
Forfeited	(32,100)
Non-vested balance, ending	6,285,250	0
Non-vested units, Beginning balance	$ 0
Weighted average grant date fair value, Granted	4.95
Weighted average grant date fair value, forfeited	4.71
Non-vested units , Ending balance	$ 4.95	$ 0

Share-Based Compensation - Su_5

Share-Based Compensation - Summary of Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 564,956	$ 84,958
R&D Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	63,735	22,637
G&A Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 501,221	$ 62,321

Income Taxes - Schedule of Loss

Income Taxes - Schedule of Loss Before Income Taxes by Geographic Region (Detail) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Loss before income taxes:
Total loss before income taxes		$ (923,747)	$ (898,547)
Bermuda [Member]
Loss before income taxes:
Total loss before income taxes	[1]	390,831	(227,471)
United States [Member]
Loss before income taxes:
Total loss before income taxes		(747,953)	(212,921)
Switzerland [Member]
Loss before income taxes:
Total loss before income taxes		(544,870)	(424,494)
Other [Member]
Loss before income taxes:
Total loss before income taxes	[2]	$ (21,755)	$ (33,661)
[1]Primarily entities which are centrally managed and controlled in the United Kingdom[2]Primarily Greater China and United Kingdom activity

Income Taxes - Schedule Compone

Income Taxes - Schedule Components of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Current taxes:
Total current tax expense		$ 369	$ 1,686
Deferred taxes:
Total deferred tax benefit		0	0
Income tax provision		369	1,686
United States [Member]
Current taxes:
Total current tax expense		(223)	1,365
Deferred taxes:
Total deferred tax benefit		0	0
Switzerland [Member]
Current taxes:
Total current tax expense		0	0
Deferred taxes:
Total deferred tax benefit		0	0
Bermuda [Member]
Current taxes:
Total current tax expense		0	0
Deferred taxes:
Total deferred tax benefit		0	0
Other [Member]
Current taxes:
Total current tax expense	[1]	592	321
Deferred taxes:
Total deferred tax benefit		$ 0	$ 0
[1]Primarily Greater China and United Kingdom activity

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Line Items]
Interest and penalties related to unrecognized tax benefits	$ 0	$ 0
Effective tax rate	(0.04%)	(0.19%)
Valuation allowance	$ 512,736	$ 303,287
Valuation allowance increase (decrease)	209,400
United States and Local Jurisdiction [Member]
Income Tax Disclosure [Line Items]
Net operating losses	$ 94,800
Minimum | United States and Local Jurisdiction [Member]
Income Tax Disclosure [Line Items]
Net operating losses expiration date	Mar. 31, 2035
Maximum | United States and Local Jurisdiction [Member]
Income Tax Disclosure [Line Items]
Net operating losses expiration date	Mar. 31, 2042
Switzerland [Member]
Income Tax Disclosure [Line Items]
Net operating losses	$ 1,749,200
Switzerland [Member] | Minimum
Income Tax Disclosure [Line Items]
Net operating losses expiration date	Mar. 31, 2025
Switzerland [Member] | Maximum
Income Tax Disclosure [Line Items]
Net operating losses expiration date	Mar. 31, 2029
United States [Member]
Income Tax Disclosure [Line Items]
Net operating losses	$ 244,100
Annual NOL utilization limitation percentage	80%
United Kingdom [Member]
Income Tax Disclosure [Line Items]
Net operating losses	$ 40,100
Other Jurisdictions [Member]
Income Tax Disclosure [Line Items]
Net operating losses	98,400
United States And Canada [Member]
Income Tax Disclosure [Line Items]
Research and development tax credit carryforwards	$ 27,200
United States And Canada [Member] | Minimum
Income Tax Disclosure [Line Items]
Research and development tax credit expiration date	Mar. 31, 2035
United States And Canada [Member] | Maximum
Income Tax Disclosure [Line Items]
Research and development tax credit expiration date	Mar. 31, 2042

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Deferred tax assets
Research tax credits	$ 27,155	$ 19,063
Intangible assets	61,544	50,564
Net operating loss	312,749	202,906
Share-based compensation	93,177	26,623
Lease liabilities	15,406	16,638
Other assets	20,651	7,303
Subtotal	530,682	323,097
Valuation allowance	(512,736)	(303,287)
Deferred tax liabilities
Depreciation	(1,397)	(1,214)
Right-of-use assets	(12,661)	(13,908)
Other liabilities	(3,888)	(4,688)
Net Deferred tax assets/(liabilities), net of valuation allowance	$ 0	$ 0

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income tax benefit at Bermuda statutory rate		$ 0	$ 0
Foreign rate differential	[1]	(179,000)	(150,778)
Permanent disallowed IPR&D		15,347	111,432
Tax-effect of changes in the fair value of investments and loss from equity method investment		15,169	(22,472)
Nontaxable gain on sale of investment		(84,313)	0
Nontaxable gain on deconsolidation of business		(958)	(16,438)
Nondeductible executive compensation		25,973	905
Tax deficiencies (excess tax benefits) from stock-based compensation		12,918	(439)
Other permanent adjustments		10,912	2,457
Research tax credits		(10,113)	(10,555)
Valuation allowance		205,811	85,046
Tax rate changes		(2,444)	2,443
Other		(8,933)	85
Income tax provision		$ 369	$ 1,686
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Income tax benefit at Bermuda statutory rate		0%	0%
Foreign rate differential(1)	[1]	19.38%	16.78%
Permanent disallowed IPR&D		(1.66%)	(12.40%)
Tax-effect of changes in the fair value of investments and loss from equity method investment		(1.64%)	2.50%
Nontaxable gain on sale of investment		9.13%	0%
Nontaxable gain on deconsolidation of business		0.10%	1.83%
Nondeductible executive compensation		(2.81%)	(0.10%)
Tax deficiencies (excess tax benefits) from share-based compensation		(1.40%)	0.05%
Other permanent adjustments		(1.18%)	(0.28%)
Research tax credits		1.09%	1.17%
Change in Valuation Allowance		(22.28%)	(9.46%)
Tax rate changes		0.26%	(0.27%)
Other		0.97%	(0.01%)
Total income tax expense		(0.04%)	(0.19%)
[1]Primarily related to operations in the United States, Switzerland, the United Kingdom, and other jurisdictions with statutory tax rates different than the Bermuda rate.

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Lease, Cost [Abstract]
Operating lease cost	$ 13,649	$ 11,931
Short-term lease cost	326	237
Variable lease cost	1,227	704
Total operating lease cost	$ 15,202	$ 12,872

Leases - Summary of Operating L

Leases - Summary of Operating Lease ROU Assets and Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Cash paid for operating lease liabilities	$ 14,403	$ 8,830
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 6,035	$ 5,491
Weighted average remaining lease term (in years)	9 years	9 years 7 months 6 days
Weighted average discount rate	7%	7.10%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Detail) $ in Thousands	Mar. 31, 2022 USD ($)
Maturities of operating lease liabilities [Abstract]
2023	$ 12,714
2024	12,672
2025	10,455
2026	9,363
2027	8,680
Thereafter	46,783
Total lease payments	100,667
Less: present value adjustment	(24,996)
Less: tenant improvement allowance	(1,805)
Total	$ 73,866

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Mar. 31, 2022 USD ($)
Master Subscription Agreement [Member]
Purchase commitment, remaining minimum payment	$ 30,000
Product Service Agreement [Member]
Purchase commitment, remaining minimum payment	$ 36,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	$ 325,834	$ 188,978
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in Trust Account	1,623,678	1,609,575
Debt issued by Dermavant to NovaQuest	177,400	150,100
Liability instruments measured at fair value	44,912	67,893
Total liabilities at fair value	222,312	217,993
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in Trust Account	1,429,715	1,533,538
Liability instruments measured at fair value	18,019	0
Total liabilities at fair value	18,019	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in Trust Account	0	76,037
Total liabilities at fair value	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in Trust Account	193,963	0
Debt issued by Dermavant to NovaQuest	177,400	150,100
Liability instruments measured at fair value	26,893	67,893
Total liabilities at fair value	204,293	217,993
Money Market Funds [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	1,297,844	1,420,597
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	1,297,844	1,420,597
Other Investment [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	3,659	11,129
Other Investment [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	3,659	11,129
Sio Gene Therapies Inc [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	12,400	48,500
Sio Gene Therapies Inc [Member] | Common Shares [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	12,447	48,487
Sio Gene Therapies Inc [Member] | Common Shares [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	12,447	48,487
Arbutus Biopharma Corporation [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	115,800	129,400
Arbutus Biopharma Corporation [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	0	76,037
Arbutus Biopharma Corporation [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	0	76,037
Arbutus Biopharma Corporation [Member] | Common Shares [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	115,765	53,325
Arbutus Biopharma Corporation [Member] | Common Shares [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	115,765	53,325
Datavant [Member] | Common Shares [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	193,963	0
Datavant [Member] | Common Shares [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	$ 193,963	$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Warrant | Roiv Public Warrants [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities at fair value	$ 18
Warrant | Roiv Private Placement Warrants [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities at fair value	9.1
Roiv Earnout Shares [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non financial liabilities at fair value	9.2
Roiv Liability Instruments Measured At Fair Value [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities at fair value	$ 8.6	$ 5.5
Sumitomo Options [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities at fair value		$ 62.4

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Millions	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)
Liability Instruments Measured At Fair Value [Member]
Fair Value Disclosures [Line Items]
Fair value of options		$ 62.4
Liability Instruments Measured At Fair Value [Member] | Private Placement Warrants
Fair Value Disclosures [Line Items]
Derivative Liability	$ 9.1
Liability Instruments Measured At Fair Value [Member] | Earnout Shares [Member]
Fair Value Disclosures [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 9.2
Minimum | Measurement Input, Discount Rate [Member]
Fair Value Disclosures [Line Items]
Discount rate	0.10
Maximum | Measurement Input, Discount Rate [Member]
Fair Value Disclosures [Line Items]
Discount rate	0.12

Fair Value Measurements - Chang

Fair Value Measurements - Change in the Fair Value of the Derivative Warrant Liabilities (Detail) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Balance at beginning of period	$ 217,993	$ 191,473
Fair value of liability instrument issued	38,634
Changes in fair value of debt and liability instruments, included in net loss	9,226	29,845
Settlements	(88)
Termination of DSP Options	(61,472)
Liability instruments disposed due to deconsolidation of subsidiary		(3,325)
Balance at end of period	$ 204,293	$ 217,993

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Change IN Fair Value of the Level 3 Assets (Detail) - Fair Value, Inputs, Level 3 [Member] $ in Thousands	12 Months Ended
	Mar. 31, 2022 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ 0
Fair value of investment in Datavant at recognition date	224,147
Changes in fair value of investment in Datavant, included in net loss	(30,184)
Ending Balance	$ 193,963

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Fair Value of Significant Unobservable Inputs Using Valuation Techniques (Detail)	Mar. 31, 2022 yr
Volatility | Datavant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Asset Measurement Input	110%
Volatility | Earnout Shares [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Asset Measurement Input	82.30%
Volatility | Private Placement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Asset Measurement Input	56.50%
Risk-free rate | Datavant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Asset Measurement Input	1.62%
Risk-free rate | Earnout Shares [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Asset Measurement Input	2.43%
Risk-free rate | Private Placement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Asset Measurement Input	2.43%
Term (in years) | Private Placement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	4.5

Fair Value Measurements - Sch_5

Fair Value Measurements - Schedule of Fair Value of Unobservable Input Related To Options to Acquire Under Sumitomo Transaction Agreement (Detail) - Sumitomo Options [Member]	1 Months Ended
	Mar. 31, 2021
Measurement Input, Expected Term [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Time to expiration (in years)	3 years 7 months 2 days
Risk-free rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	0.52
Measurement Input, Option Volatility [Member] | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	89,000
Measurement Input, Option Volatility [Member] | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment	95,000

Other Expense, Net - Summary of

Other Expense, Net - Summary of Other Expense, Net From Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Other Expense, Net [Abstract]
Loss from equity method investment	$ 0	$ 3,750
Interest income	(369)	(1,418)
Interest expense	7,041	2,809
Other (expense) income	(3,237)	3,560
Total	$ 3,435	$ 8,701

Net Loss per Common Share - Sum

Net Loss per Common Share - Summary Of Potentially Dilutive Securities (Detail) - shares		12 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Stock options and performance stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		80,364,904	69,687,308
Restricted stock units and performance stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		21,956,749	7,294,028
March 2020 CVARs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	[1]	32,011,996	32,447,626
November 2021 CVARs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		6,285,250
Restricted common stock (non-vested) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		741,405	1,720,090
Earn-Out Shares (non-vested) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		3,080,387
Private Placement Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		10,214,365
Public Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		20,475,875
Other instruments issued [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		5,103,577	5,458,543
[1]Refer to Note 10, “Share-Based Compensation” for details regarding settlement of CVARs.

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] € in Millions, $ in Millions, $ in Millions		3 Months Ended
	May 31, 2022	Jun. 30, 2022 USD ($)	Jun. 30, 2022 EUR (€)	Jun. 30, 2022 CAD ($)
G S K | Regulatory Milestone [Member]
Milestone Payment Period		70 days
Milestone Payment Payable		$ 126	€ 100
Welichem Biotech Inc [Member]
Milestone Payment Period	60 days
Milestone Payment Payable		20		$ 25
ROIVRevenue Interest Purchase And Sale Agreement [Member]
Gross proceeds from revenue interest purchase and sale agreement.		$ 160