Beyond Air (XAIR) 10-Q 9 Feb 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2020	Feb. 05, 2021
Cover [Abstract]
Entity Registrant Name	Beyond Air, Inc.
Entity Central Index Key	0001641631
Document Type	10-Q
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		20,486,527
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Current assets
Cash and cash equivalents	$ 22,016,310	$ 19,829,275
Restricted cash	637,699	5,635,836
Other current assets and prepaid expenses	425,362	1,149,806
Total current assets	23,079,371	26,614,917
Licensed right to use technology	384,206	412,763
Right-of-use lease assets	357,871	195,727
Property and equipment, net	956,759	211,337
Other assets	38,880
TOTAL ASSETS	24,817,087	27,434,744
Current liabilities
Accounts payable	1,223,839	2,256,229
Accrued expenses	1,434,087	1,097,534
Deferred revenue	145,628	873,190
Stock to be issued to a vendor		240,000
Operating lease liability	84,388	69,342
Loan payable		335,358
Total current liabilities	2,887,942	4,871,653
Long-term liabilities
Operating lease liability	279,594	131,581
Facility agreement loan, net	4,439,373	4,339,065
Total liabilities	7,606,909	9,342,299
Commitments and contingencies
Shareholders' equity
Preferred stock, $0.0001 par value per share: 10,000,000 shares authorized, 0 shares issued and outstanding
Common stock, $0.0001 par value per share: 100,000,000 shares authorized, 18,381,227 and 16,056,360 shares issued and outstanding as of December 31, 2020 and March 31, 2020, respectively	1,838	1,606
Treasury stock	(25,000)	(25,000)
Additional paid-in capital	92,463,661	75,702,915
Accumulated deficit	(75,230,321)	(57,587,076)
Total shareholders' equity	17,210,178	18,092,445
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 24,817,087	$ 27,434,744

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Mar. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	18,381,227	16,056,360
Common stock, shares outstanding	18,381,227	16,056,360

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
License revenues	$ 148,794	$ 314,379	$ 727,562	$ 1,587,450
Operating expenses:
Research and development	3,294,102	2,580,622	10,773,192	7,754,125
General and administrative	2,471,065	2,471,714	7,134,090	6,719,144
Operating expenses	5,765,167	5,052,336	17,907,282	14,473,269
Operating loss	(5,616,373)	(4,737,957)	(17,179,720)	(12,885,819)
Other income (loss)
Realized and unrealized gain (loss) from marketable securities		314,889		(1,849,624)
Dividend and interest income	378	25,692	16,241	59,759
Interest expense	(157,960)		(480,234)
Foreign exchange gain (loss)	6,147	1,765	468	1,512
Other loss	(1,843)
Total other income (loss)	(153,278)	342,346	(463,525)	(1,788,353)
Net loss	(5,769,651)	(4,395,611)	(17,643,245)	(14,674,172)
Deemed dividend from warrant modification		(522,478)		(522,478)
Net loss attributed to common shareholders	$ (5,769,651)	$ (4,918,089)	$ (17,643,245)	$ (15,196,650)
Net basic and diluted loss per share	$ (0.33)	$ (0.43)	$ (1.03)	$ (1.46)
Weighted average number of shares of common stock used in computing basic and diluted net loss per share	17,609,328	11,398,413	17,086,871	10,437,690

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Mar. 31, 2019	$ 871	$ (25,000)	$ 41,693,578	$ (37,644,572)	$ 4,024,877
Balance, shares at Mar. 31, 2019	8,714,815
At the market stock issuance of common stock, net	$ 25		1,173,785		1,173,810
At the market stock issuance of common stock, net, shares	250,000
Issuance of common stock upon exercise of options	$ 3		83,854		83,857
Issuance of common stock upon exercise of options, shares	32,122
Issuance of common stock pursuant to a private placement, net of offering cost	$ 159		7,839,336		7,839,495
Issuance of common stock pursuant to a private placement, net of offering cost, shares	1,583,743
Stock-based compensation			919,037		919,037
Net loss				(6,180,821)	(6,180,821)
Balance at Jun. 30, 2019	$ 1,058	(25,000)	51,709,590	(43,825,393)	7,860,255
Balance, shares at Jun. 30, 2019	10,580,680
Balance at Mar. 31, 2019	$ 871	(25,000)	41,693,578	(37,644,572)	4,024,877
Balance, shares at Mar. 31, 2019	8,714,815
Net loss					(14,674,172)
Balance at Dec. 31, 2019	$ 1,390	(25,000)	64,358,449	(52,318,744)	12,016,095
Balance, shares at Dec. 31, 2019	13,901,745
Balance at Jun. 30, 2019	$ 1,058	(25,000)	51,709,590	(43,825,393)	7,860,255
Balance, shares at Jun. 30, 2019	10,580,680
Issuance of common stock upon exercise of options	$ 1		25,924		25,925
Issuance of common stock upon exercise of options, shares	6,100
Issuance of common stock pursuant to a Purchase Agreement, net	$ 16		808,168		808,184
Issuance of common stock pursuant to a Purchase Agreement, net, shares	160,000
Stock-based compensation			922,997		922,997
Net loss				(4,097,740)	(4,097,740)
Balance at Sep. 30, 2019	$ 1,075	(25,000)	53,466,679	(47,923,133)	5,519,621
Balance, shares at Sep. 30, 2019	10,746,780
Issuance of common stock upon exercise of options			8,168		8,168
Issuance of common stock upon exercise of options, shares	1,980
Issuance of common stock, pursuant to an underwriter offering and a private placement, net	$ 315		10,169,028		10,169,343
Issuance of common stock, pursuant to an underwriter offering and a private placement, net, shares	3,152,985
Incremental value of warrants due to a warrant modification			552,478		552,478
Deemed dividend due to a warrant modification			(522,478)		(522,478)
Stock-based compensation			714,574		714,574
Net loss				(4,395,611)	(4,395,611)
Balance at Dec. 31, 2019	$ 1,390	(25,000)	64,358,449	(52,318,744)	12,016,095
Balance, shares at Dec. 31, 2019	13,901,745
Balance at Mar. 31, 2020	$ 1,606	(25,000)	75,702,915	(57,587,076)	18,092,445
Balance, shares at Mar. 31, 2020	16,056,360
At the market stock issuance of common stock, net	$ 11		899,529		899,540
At the market stock issuance of common stock, net, shares	113,712
Issuance of common stock upon exercise of warrants	$ 7		293,104		293,111
Issuance of common stock upon exercise of warrants, shares	70,538
Issuance of common stock upon exercise of options			545		545
Issuance of common stock upon exercise of options, shares	2,340
Issuance of common stock pursuant to a Purchase Agreement, net	$ 57		3,641,623		3,641,680
Issuance of common stock pursuant to a Purchase Agreement, net, shares	568,605
Issuance of common stock to investor relations firm	$ 3		242,097		242,100
Issuance of common stock to investor relations firm, shares	30,000
Stock-based compensation			1,813,654		1,813,654
Net loss				(6,741,804)	(6,741,804)
Balance at Jun. 30, 2020	$ 1,684	(25,000)	82,593,467	(64,328,880)	18,241,271
Balance, shares at Jun. 30, 2020	16,841,555
Balance at Mar. 31, 2020	$ 1,606	(25,000)	75,702,915	(57,587,076)	$ 18,092,445
Balance, shares at Mar. 31, 2020	16,056,360
Issuance of common stock upon exercise of options, shares					2,340
Net loss					$ (17,643,245)
Balance at Dec. 31, 2020	$ 1,838	(25,000)	92,463,661	(75,230,321)	17,210,178
Balance, shares at Dec. 31, 2020	18,381,227
Balance at Jun. 30, 2020	$ 1,684	(25,000)	82,593,467	(64,328,880)	18,241,271
Balance, shares at Jun. 30, 2020	16,841,555
At the market stock issuance of common stock, net	$ 23		1,536,224		1,536,247
At the market stock issuance of common stock, net, shares	227,527
Issuance of common stock upon exercise of warrants	$ 8		304,987		304,995
Issuance of common stock upon exercise of warrants, shares	83,332
Stock-based compensation			1,179,614		1,179,614
Net loss				(5,131,790)	(5,131,790)
Balance at Sep. 30, 2020	$ 1,715	(25,000)	85,614,292	(69,460,670)	16,130,337
Balance, shares at Sep. 30, 2020	17,152,414
At the market stock issuance of common stock, net	$ 57		3,131,290		3,131,347
At the market stock issuance of common stock, net, shares	575,448
Issuance of common stock upon exercise of warrants	$ 6		223,829		223,835
Issuance of common stock upon exercise of warrants, shares	55,203
Issuance of common stock pursuant to a Purchase Agreement, net	$ 46		2,433,501		2,433,547
Issuance of common stock pursuant to a Purchase Agreement, net, shares	463,162
Issuance of vested restricted stock	$ 14		(14)
Issuance of vested restricted stock, shares	135,000
Stock-based compensation			1,060,763		1,060,763
Net loss				(5,769,651)	(5,769,651)
Balance at Dec. 31, 2020	$ 1,838	$ (25,000)	$ 92,463,661	$ (75,230,321)	$ 17,210,178
Balance, shares at Dec. 31, 2020	18,381,227

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net loss	$ (17,643,245)	$ (14,674,172)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	125,036	57,009
Amortization of licensed right to use technology	30,409	72,718
Stock-based compensation	4,056,131	2,569,508
Deferred revenue	(727,562)	(1,587,450)
Amortization of debt discount and accretion of debt issuance costs	100,308
Operating leases	906	6,824
Gain on cancellation of operating lease	(1,843)
Realized and unrealized loss on marketable equity securities		1,849,624
Foreign currency adjustments	(468)	(1,512)
Changes in:
Other current assets and prepaid expenses	685,563	358,629
Accounts payable	(1,031,922)	849,259
Accrued expenses	336,552	107,431
Net cash used in operating activities	(14,070,135)	(10,390,620)
Cash flows from investing activities
Investment in marketable equity securities		(32,970,684)
Proceeds from redemption of marketable securities		24,963,763
Purchase of property and equipment	(870,457)	(28,248)
Net cash used in investing activities	(870,457)	(8,035,169)
Cash flows from financing activities
Issuance of common stock in connection with a Purchase Agreement with Lincoln Park, At the Market Offerings, private placement, net, exercise of warrants and stock options	12,464,848	20,020,200
Payment of loan	(335,358)	(175,022)
Net cash provided by financing activities	12,129,490	19,845,178
(Decrease) increase in cash, cash equivalents and restricted cash	(2,811,102)	1,419,389
Cash, cash equivalents and restricted cash at beginning of period	25,465,111	1,357,137
Cash, cash equivalents and restricted cash at end of period	22,654,009	2,776,526
Supplemental disclosure of non-cash investing and financing activities
Right-of-use assets	236,700	258,605
Operating lease liability	236,700	266,570
Disposition of right-of-use asset	(17,486)
Disposition of operating lease liability	19,329
Stock issued to investor relations firm	242,100
Deemed dividend as a result of a warrant modification		522,478
Supplemental disclosure of cash flow items:
Interest paid	$ 340,779	$ 3,832

Organization and Business

Organization and Business	9 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	NOTE 1 ORGANIZATION AND BUSINESS Beyond Air, Inc. (together with its subsidiaries, “Beyond Air” or the “Company”) was incorporated on April 24, 2015. On June 25, 2019, the Company’s name was changed to Beyond Air, Inc. from AIT Therapeutics, Inc. The Company has the following wholly-owned subsidiaries: Beyond Air, Ltd. (“BA Ltd.”), incorporated in Israel on May 1, 2011. Advanced Inhalation Therapies (“AIT”), a wholly owned subsidiary of Beyond Air, Ltd., incorporated on August 29, 2014, in Delaware. Beyond Air Australia Pty Ltd., incorporated on December 17, 2019 in Australia. Beyond Air Ireland Limited, incorporated on March 5, 2020 in Ireland. The Company is a clinical-stage medical device and biopharmaceutical company focused on developing inhaled Nitric Oxide (“NO”) for the treatment of patients with respiratory conditions, including serious lung infections and pulmonary hypertension, and gaseous NO for the treatment of solid tumors. Since its inception, the Company has devoted substantially all of its efforts to research and development. The Company is developing an NO generator and delivery system (the “LungFit ™ ™ Liquidity Risks and Uncertainties The Company has incurred operating losses in almost each year since inception, $14.1 million net cash used in operating activities during the nine months ended December 31, 2020 and has accumulated losses of $75.2 million. However, the Company has cash and equivalents of approximately $22.7 million at December 31, 2020 and, based on the current business plan, estimates such cash and equivalents will be sufficient to finance its operations for at least one year from the date of filing these financial statements. The Company’s future capital needs and the adequacy of its available funds beyond one year will depend on many factors, including, but not necessarily limited to, the cost and time necessary for the development, clinical studies and regulatory approval of the Company’s other medical device, indications as well as the commercial success of the Company’s first product for PPHN, assuming PMA approval. The Company may be required to raise additional funds through sale of equity or debt securities or through strategic collaboration and/or licensing agreements in order to fund operations until we are able to generate enough product or royalty revenues, if any. Financing may not be available on acceptable terms, or at all, and our failure to raise capital when needed could have a material adverse effect on our strategic objectives, results of operations and financial condition. The Company’s access to capital and liquidity currently includes the following: a) On April 2, 2020, an At The Market Offering (“ATM”) agreement for $50 million, see Note 5. b) On March 2, 2020, a $25 million unsecured loan facility agreement (the “Facility Agreement”) with certain lenders. The Company has drawn down the first of five tranches of $5 million and has the ability to draw down an additional $5 million tranche at any time prior March 17, 2022 as well as the ability to draw down the remaining $15 million after the FDA approval of LungFit™ PH, see Note 11. c) On May 14, 2020, a $40 million stock purchase agreement (“New Stock Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“LPC”), that replaced the former $20 million purchase agreement with LPC, dated August 10, 2018. The New Stock Purchase Agreement provides for issuances through May 2023 at the Company’s discretion, see Note 5.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 2 SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required to be presented for complete financial statements. The accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring items) which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The accompanying unaudited condensed consolidated Balance Sheet as of March 31, 2020 has been derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2020 (the “2020 Annual Report”), filed with the U.S. Securities and Exchange Commission (“SEC”) on June 23, 2020. The unaudited condensed consolidated financial statements and related disclosures should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in the 2020 Annual Report. Principles of Consolidation These unaudited condensed consolidated financial statements include the accounts of the Company and the accounts of all subsidiaries. All intercompany balances and transactions have been eliminated in the accompanying financial statements. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its significant estimates and assumptions including expense recognition assumption under consulting and clinical trial agreements, stock-based compensation, warrant fair value, and the determination of valuation allowance requirements on deferred tax attributes. Other Risks and Uncertainties The Company is subject to risks common to medical device companies including, but not limited to, new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations, product liability, uncertainty of market acceptance of products and the potential need to obtain additional financing. The Company is dependent on third party suppliers, in some cases single-source suppliers. There can be no assurance that the Company’s product will be accepted in the marketplace, nor can there be any assurance that any future products can be developed or manufactured at an acceptable cost and with appropriate performance characteristics, or that such products will be successfully marketed, if at all. The Company’s products require approval or clearance from the FDA prior to commencing commercial sales in the United States. There can be no assurance that the Company’s products will receive all of the required approvals or clearances. Approvals or clearances are also required in foreign jurisdictions in which the Company may license or sell its products. If the Company is denied such approvals or clearances or such approvals or clearances are delayed, it may have a material adverse impact on the Company’s results of operations, financial position and liquidity. The development of our product candidates could be further disrupted and adversely affected by the ongoing COVID-19 pandemic. The spread of SARS CoV-2 resulted in the Director General of the World Health Organization declaring COVID-19 a pandemic on March 11, 2020. The Company has assessed the impact COVID-19 may have on the Company’s business plans and its ability to conduct the preclinical studies and clinical trials as well as on the Company’s reliance on third-party manufacturing and our supply chain. The Company experienced significant delays in the supply chain for LungFit™ due to the redundancy in parts and suppliers with ventilator manufacturing which has since been remedied. However, there can be no assurance that the Company will be able to further avoid part or all of any impact from COVID-19 or its consequences. The extent to which the COVID-19 pandemic and global efforts to contain its spread may impact the Company’s operations will depend on future developments. Concentrations The Company is reliant on two vendors for commercial manufacturing of the LungFit™ generator and delivery systems and nitrogen dioxide filters for both clinical studies and future commercial supply if regulatory approval is received. Cash and Cash Equivalents The Company’s concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains its cash and cash equivalents in bank deposit and other interest-bearing accounts in major banks in Israel, Ireland and the U.S., the balances of which, at times, may exceed federally insured limits. The Company has no off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements. As of December 31, 2020, and March 31, 2020, restricted cash consisted of $619,000 of cash designated for a contract manufacturer. This cash is expected to be used for material and parts that require a long lead time. Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at acquisition. The following table is the reconciliation of the presentation and disclosure of financial instruments as shown on the Company’s consolidated statements of cash flows: December 31, 2020 December 31, 2019 Cash and cash equivalents $ 22,016,310 $ 2,140,162 Restricted cash 637,699 636,364 Cash and cash equivalents and restricted cash $ 22,654,009 $ 2,776,526 Revenue Recognition The Company recognizes revenue when transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. To determine revenue recognition for contracts with customers the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies the performance obligation(s). At contract inception, the Company assesses the goods or services promised within each contract, assess whether each promised good or service is distinct and identify those that are performance obligations. The Company uses judgment to determine: a) the number of performance obligations based on the determination under step (ii) above and whether those performance obligations are distinct from other performance obligations in the contract; b) the transaction price under step (iii) above; and c) the stand-alone selling price for each performance obligation identified in the contract for the allocation of transaction price in step (iv) above. The Company uses judgment to determine whether milestones or other variable consideration, except for royalties, should be included in the transaction price. The transaction price is allocated to each performance obligation on an estimated stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under the contract are satisfied, see Note 10. Where a portion of non-refundable up-front fees or other payments received are allocated to continuing performance obligations under the terms of a license arrangement, they are recorded as contract liabilities and recognized as revenue when (or as) the underlying performance obligation is satisfied. Segment reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. To date, the Company has viewed its operations and managed its business as one segment. Research and Development Research and development expenses are charged to the statement of operations as incurred. Research and development expenses include salaries, benefits, stock-based compensation and costs incurred by outside laboratories, manufacturers, clinical research organizations, consultants, and accredited facilities in connection with clinical trials and preclinical studies. Research and development projects that have no alternative uses have been expensed as incurred. Foreign Exchange Transactions The Company’s subsidiaries have operations in Israel, Ireland, and in Australia. Beyond Air’s operations are in the United States and the U.S. dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. Thus, the functional and reporting currency of the Company is the U.S. dollar. The Company translated its non-U.S. operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations as of December 31, 2020 were not material. Gains or losses from foreign currency transactions are included in other income (loss) in the statement of operations as foreign currency exchange gains/(losses). Stock-Based Compensation The Company measures the cost of employee and non-employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. Fair value for restricted stock awards is valued using the closing price of the Company’s stock on the date of grant. The grant date fair value is recognized over the period during which an employee and non-employee is required to provide service in exchange for the award – the requisite service period. The grant date fair value of employee share options is estimated using the Black-Scholes option pricing model. The risk-free interest rate assumptions were based upon the observed interest rates appropriate for the expected term of the equity instruments. The expected dividend yield was assumed to be zero as the Company has not paid any dividends since its inception and does not anticipate paying dividends in the foreseeable future. Due to the Company’s limited trading history, the Company utilizes an implied volatility based on an aggregate of guideline companies. In 2020, the Company began to incorporate and weight its historical volatility with its peer group in order to obtain expected volatility. The peer companies selected have similar characteristics, including industry and market capitalization. The Company routinely reviews its calculation of volatility based on, the Company’s life cycle, its peer group, and other factors. The Company uses the simplified method to estimate the expected term. Property and Equipment Property and equipment are stated at cost less accumulated depreciation and accumulated amortization. Depreciation and amortization is calculated using the straight-line method over the estimated useful life of the assets as follows: Computers equipment Three years Furniture and fixtures Seven years Clinical and medical equipment Five or Fifteen years Leasehold improvements Shorter of term of lease or estimated useful life of the asset Licensed Right to Use Technology Licensed right to use technology that is considered platform technology with alternative future uses is recorded as an intangible asset and is being amortized on a straight-line method over its estimated useful life, determined to be thirteen years, see Note 13. Long Lived Assets The Company assess the impairment of long-lived assets on an ongoing basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors we consider that could trigger an impairment review include the following: ● significant underperformance relative to expected historical or projected future operating results, ● significant changes in the manner of our use of the acquired assets or the strategy for our overall business, ● significant negative regulatory or economic trends, and ● significant technological changes, which would render the platform technology, equipment, and manufacturing processes obsolete. Recoverability of assets that will continue to be used in our operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimated future costs. There were no events during the reporting periods that were deemed to be a triggering event that would require an impairment assessment. Income Taxes The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their 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 the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of December 31, 2020, and March 31, 2020, the Company recorded a valuation allowance to the full extent of our net deferred tax assets since the likelihood of realization of the benefit does not meet the more likely than not threshold. The Company files U.S. Federal, various state, and International income tax returns. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances. Such adjustment is reflected in the tax provision when appropriate . Net Income (Loss) Per Share Basic and diluted net loss per share attributable to common shareholders is computed by dividing the net loss and deemed dividend from a warrant modification to common shareholders by the weighted average number of shares of common stock outstanding for the period. The dilutive effect of outstanding options, warrants, restricted stock and other stock-based compensation awards is reflected in diluted net income (loss) per share by application of the treasury stock method. The calculation of diluted net income (loss) attributed to common shareholders per share excludes all anti-dilutive shares of common stock. For periods in which the Company has reported net losses, diluted net loss per share attributable to common shareholders is the same as basic net loss per share attributable to common shareholders, because such shares of common stock are not assumed to have been issued if their effect is anti-dilutive, see Note 9. Recently Issued Accounting Standards Not Yet Adopted In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”) as part of its initiative to reduce complexity in the accounting standards. ASU 2019-12 eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The standard also clarifies and simplifies other aspects of the accounting for income taxes. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company does not anticipate the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. ASU 2020-06 is effective for the Company on December 1, 2022, Early adoption is permitted, but no earlier than December 1, 2021. The Company is currently evaluating the impact of ASU 2020-06 on its condensed consolidated financial statements and related disclosures.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurement	NOTE 3 FAIR VALUE MEASUREMENT The Company’s financial instruments primarily include cash, cash equivalents, restricted cash, accounts payable and a Facility Agreement Loan. Due to the short-term nature of these financial instruments, the carrying amounts of these assets and liabilities approximate their fair value. The long-term Facility Agreement loan approximate fair value due to the prevailing market conditions for similar debt with remaining maturity and terms. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 - quoted prices in active markets for identical assets or liabilities; Level 2 - inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Property and Equipment

Property and Equipment	9 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 4 PROPERTY AND EQUIPMENT Property and equipment consist of the following as of December 31, 2020 and March 31, 2020, respectively: December 31, 2020 March 31, 2020 Clinical and medical equipment $ 1,114,760 $ 357,795 Computer equipment 131,621 73,982 Furniture and fixtures 93,245 53,895 Leasehold improvements 21,840 5,336 1,361,466 491,008 Accumulated depreciation and amortization (404,707 ) (279,671 ) $ 956,759 $ 211,337 Depreciation and amortization expense for the three months ended December 31, 2020 and December 31, 2019 was $51,428 and $23,190, respectively. Depreciation and amortization expense for the nine months ended December 31, 2020 and December 31, 2019 was $125,036 and $57,009, respectively.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Shareholders' Equity	NOTE 5 SHAREHOLDERS’ EQUITY On May 14, 2020, the Company entered into a $40 million New Stock Purchase Agreement with LPC, that replaced the former $20 million purchase agreement. The New Stock Purchase Agreement provides for the issuance of up to $40 million of the Company’s common stock which the Company may sell from time to time in its sole discretion to LPC over 36 months, provided that the closing price is not below $0.25 per share and subject to certain other conditions and limitations. Under both the new and former agreement, for the three and nine months ended December 31, 2020, the Company received net proceeds of $2,433,547 and $6,075,228 from the sale of common stock. As of December 31, 2020, there is a balance of $34,777,953 available under the LPC new agreement. On April 2, 2020, the Company entered into an ATM for $50 million utilizing the Company’s shelf registration statement. The Company may sell shares of our common stock having aggregate sales proceeds of up to $50,000,000 from time to time, subject to the conditions and limitations in the agreement. If shares are sold, there is a three percent fee paid to the sales agent. For the three and nine months ended December 31, 2020, the Company received net proceeds of $3,131,347 and $5,567,134 from the sale of the Company’s stock. As of December 31, 2020, there is a balance of $44,292,866 available under the ATM. On June 3, 2019, the Company entered into a Stock Purchase Agreement with investors for the issuance of 1,583,743 shares of common stock. The Company raised net proceeds of $7,839,495. The Company’s CEO participated in this offering and invested $300,000 and received 58,253 shares of common stock, or $5.15 per share. In addition, certain directors and employees invested $610,000 for an aggregate of 118,254 shares of common stock, at a purchase price of $5.15 per share. On December 12, 2019, the Company closed on an underwritten offering and concurrent private placement of 3,152,985 shares of common stock at $3.66 per share for net proceeds of $10,169,343. The underwritten offering shares were registered under the Company’s shelf registration statement. There were 532,786 common stock that were sold in a private placement and subsequently registered under an effective Form S-1 on January 23, 2020. In addition, the Company’s CEO invested $699,999 and receiving 190,437 shares of common stock at $3.66 per share. In addition, certain employees participated in this offering by investing $475,000 and receiving 129,781 shares of common stock at $3.66 per share. Stock to be Issued to a Vendor As of March 31, 2020, the Company was obligated to issue 30,000 shares of common stock to a vendor for services related to investor relations. The fair value of the liability as of March 31, 2020 was $240,000. In May 2020, 30,000 shares were issued at the fair value of $242,100. Such amount was transferred to shareholders’ equity. As of December 31, 2020, there is no obligation to the vendor, nor any stock compensation expense. Issuance of Restricted Shares Restricted stock was issued to officers, employees and consultants. The fair value for the restricted stock awards was valued at the closing price of the Company’s common stock on the date of grant. Restricted stock vests annually over five years. Number Of Shares Weighted Average Grant Date Fair Value Unvested as of April 1, 2020 646,800 $ 4.99 Granted 62,000 5.81 Vested (135,000 ) 4.99 Unvested as of December 31, 2020 573,800 $ 5.08 Stock-based compensation expense related to restricted stock awards was $291,452 and $84,477 for the three months ended December 31, 2020 and December 31, 2019, respectively. Stock-based compensation expense related to restricted stock awards was $1,062,628 and $432,756 for the nine months ended December 31, 2020 and December 31, 2019, respectively. Stock Option Plan The Company’s Second Amended and Restated 2013 Equity Incentive Plan (the “2013 Plan”) allows for awards to officers, directors, employees, and consultants of stock options, restricted stock units and restricted shares of the Company’s common stock. The vesting terms of the options issued under the 2013 Plan are generally between two and four years and expire up to ten years after the grant date. The 2013 Plan has 4,100,000 shares authorized for issuance. As of December 31, 2020, 7,047 shares are available under the 2013 Plan. A summary of the change in options for the nine months ended December 31, 2020 is as follows: Number Of Options Weighted Weighted Aggregate Options outstanding as of April 1, 2020 3,053,589 $ 4.77 8.4 $ 9,878,264 Granted 122,000 5.11 9.3 Exercised (2,340 ) 0.1 - Outstanding as of December 31, 2020 3,173,249 $ 4.8 8.0 $ 1,770,400 Exercisable as of December 31, 2020 1,715,849 $ 4.55 7.5 $ 1,251,025 On January 9, 2021, the Company’s board approved an amendment to the 2013 Plan to increase the number of shares in the plan by 1,500,000, with such amendment being subject to shareholder vote at the 2021 annual stockholder meeting, scheduled for March 4, 2021. As of December 31, 2020, the Company agreed to issue 60,000 options, which are subject to shareholder approval of the increase in shares allocated to the 2013 Plan. As of December 31, 2020, the Company has unrecognized stock-based compensation expense of approximately $2,538,200 related to unvested stock options which is expected to be expensed over the weighted average remaining service period of 1.7 years. For the nine months ended December 31, 2020 and December 31, 2019, the weighted average fair value of options granted was $5.20 and $3.49 per share, respectively. The following was utilized to calculate the fair value of options on the date of grant: December 31, 2020 December 31, 2019 Risk -free interest rate 0.5 - 0.7 % 1.4 - 2.3 % Expected volatility 87.8 - 92.54 % 82.3 - 83.4 % Dividend yield 0 % 0 % Expected terms (in years) 5.18 - 6.25 6.25 The following summarizes the components of stock-based compensation expense which includes stock options and restricted stock for the three and nine months ended December 31, 2020 and December 31, 2019, respectively: Three Months Ended Nine Months Ended December 31, December 31, 2020 2019 2020 2019 Research and development $ 376,424 $ 97,765 $ 1,665,372 $ 431,453 General and administrative 684,339 616,809 2,390,659 2,125,155 Total stock-based compensation expense $ 1,060,763 $ 714,574 $ 4,056,131 $ 2,556,608 Warrants A modification of the exercise price to the January 2017 and March 2017 investor warrants from $4.25 per share to $3.66 per share was triggered by the 2019 Offering described above. As a result, the Company recognized the incremental value of $522,478 as a deemed dividend using the Black-Scholes pricing model with the following assumptions: Expected term in years 2.2 Volatility 87 % Dividend yield 0.0 % Risk-free interest rate 1.7 % A summary of the Company’s outstanding warrants as of December 31, 2020 are as follows: Warrant Holders Number Of Warrants Exercise Price Date of Expiration January 2017 offering - investors 2,977,232 $ 3.66 January 2022 (a) March 2017 offering - investors 68,330 $ 3.66 March 2022 (a) March 2017 offering - placement agent 7,541 $ 3.66 March 2022 (a) February 2018 offering - investors 1,525,232 $ 4.25 February 2021 Third-party license agreement 208,333 $ 4.80 January 2024 March 2020 loan (see Note 11) 172,187 $ 7.26 March 2025 Total 4,958,855 (a) These warrants have down round protection. For the three and nine months ended December 31, 2020, 52,667 and 206,537 warrants were exercised for $223,835 and $821,940, respectively. For the three and nine months ended December 31, 2020, 8,332 warrants were exercised on a cashless basis and 2,536 shares of common stock were issued. For the nine months ended December 31, 2019, no warrants were exercised.

Other Current Assets Prepaid Ex

Other Current Assets Prepaid Expenses	9 Months Ended
	Dec. 31, 2020
Current Assets and Prepaid Expenses [Abstract]
Other Current Assets Prepaid Expenses	NOTE 6 OTHER CURRENT ASSETS PREPAID EXPENSES A summary of current assets and prepaid expenses as of December 31, 2020 and March 31, 2020 is as follows: December 31, 2020 March 31, 2020 Research and development $ 94,607 $ 266,510 Insurance 110,742 471,182 Professional 25,000 156,259 Value added tax receivable 46,568 124,127 Other 148,445 131,728 Total $ 425,362 $ 1,149,806

Accrued Expenses

Accrued Expenses	9 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued Expenses	NOTE 7 ACCRUED EXPENSES A summary of the accrued expenses as of December 31, 2020 and March 31, 2020 is as follows: December 31, 2020 March 31, 2020 Research and development $ 623,653 $ 484,756 Professional fees 406,062 476,638 Employee salaries and benefits 275,671 71,066 Interest expense 9,218 - Other 119,483 65,074 Total $ 1,434,087 $ 1,097,534

Leases

Leases	9 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	NOTE 8 LEASES On April 1, 2019, the Company early adopted Accounting Standards Update No. 2016-02, Leases (Topic 842), as amended (“ASU 2016-02”), which generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. In June 2020, the Company entered into a new lease and cancelled a lease, which resulted in the recognition of operating lease liabilities and right-of-use assets of approximately of $236,700 and $236,900, respectively. The cancellation of the lease resulted in a derecognition of operating lease liabilities and right-of-use assets of $19,329 and $17,486, respectively. As a result of the cancellation, the Company recorded a gain of $1,843. The right-of use assets and operating lease liability as of December 31, 2020 and March 31, 2020 is as follows: December 31, 2020 March 31, 2020 Right-of-use assets $ 357,871 $ 195,727 Operating lease liability short-term $ 84,388 $ 69,342 Operating lease liability long-term 279,594 131,581 Total $ 363,982 $ 200,923 Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected remaining lease term. Certain adjustments to the right-of-use asset may be required for items such as prepaid or accrued rent. The interest rate implicit in our leases is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. As of December 31, 2020, and March 31, 2020, the weighted average discount rate and remaining term on lease obligation was approximately 8.3%, 8.3%, 4.3 and 3.0 years, respectively. Operating lease expense is recognized on a straight-line basis over the lease term and is included in general and administrative and research development expenses.

Basic and Diluted Net Income (L

Basic and Diluted Net Income (Loss) Per Common Share	9 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Basic and Diluted Net Income (Loss) Per Common Share	NOTE 9 BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE The following potentially dilutive securities were not included in the calculation of diluted net income (loss) per share attributable to common shareholders because their effect would have been anti-dilutive for the periods presented: December 31, 2020 December 31, 2019 Common stock warrants 4,958,855 6,143,405 Common stock options 3,173,249 2,287,049 Restricted shares 573,800 654,000 Total 8,705,904 9,084,454

License Agreement

License Agreement	9 Months Ended
	Dec. 31, 2020
License Agreement
License Agreement	NOTE 10 LICENSE AGREEMENT On January 23, 2019, the Company entered into an agreement for commercial rights (the “Circassia Agreement”) with Circassia Limited and its affiliates (collectively, “Circassia”) for PPHN and future related indications at concentrations of < This contract consisted of five performance obligations with only the following two obligations required prior to the termination of the License Agreement: ● Performance Obligation 1: non-exclusive transfer of functional intellectual property rights to Circassia, which includes: ○ the consummation of the Circassia Agreement, which included significant pre-agreement negotiation and product specification, and ○ the successful completion of the pre-submission meeting with the FDA. At this meeting, the FDA reinforced its assessment of the LungFit™ PH as a medical device and the requirements for approval. ● Performance Obligation 2: ongoing support associated with the PMA submission and regulatory approval by the FDA. This also includes development activities including manufacturing readiness process ahead of such approval. During the three months ended March 31, 2019, the Company met the first two milestones under the license agreement and received 17,572,815 ordinary shares valued at $9,987,295. This consideration was allocated to the first two performance obligations; one being the transfer of the intellectual property to Circassia, which was recognized at a point in time and was valued at $7,116,232 and the other being the ongoing support associated with the PMA submission and regulatory approval by the FDA, which was valued at $2,871,063 and was recorded as deferred revenue. The second performance obligation is being recognized over a period of time; from the commencement of the agreement to when management expects to submit the PMA. License revenue of $349,607 and $645,602 associated with this second performance obligation has been recognized for the three months ended December 31, 2020 and December 31, 2019, respectively. License revenue of $727,562 and $1,273,071 associated with this second performance obligation has been recognized for the nine months ended December 31, 2020 and December 31, 2019, respectively. As of December 31, 2020, and March 31, 2020, deferred revenue was $145,628 and $873,190, respectively.

Facility Agreement Loan

Facility Agreement Loan	9 Months Ended
	Dec. 31, 2020
Facility Agreement Loan
Facility Agreement Loan	NOTE 11 FACILITY AGREEMENT LOAN On March 17, 2020, the Company entered into the Facility Agreement with certain lenders for up to $25,000,000 in five tranches of $5,000,000 per tranche. Such tranches are at the option of the Company, provided however that the Company may only utilize tranches three through five following FDA approval of the LungFit™ PH product. The loan(s) are unsecured with interest at 10% per year which is to be paid quarterly. The loans may be prepaid with certain prepayment penalties. The effective interest rate for this loan is 13.3% per year. Each tranche shall be repaid in installments commencing June 15, 2023 with all amounts outstanding under any tranche due on March 17, 2025. The Company received proceeds from the first tranche in fiscal year 2020. A lender who is over a five percent shareholder loaned the Company $3,160,000 of the first tranche and, as such, related party interest expense for the three and nine months ended December 31, 2020 approximated $79,000 and $158,000 (not including amortization of debt discount and deferred offering costs), respectively. In connection with the first tranche, the Company issued, in March 2020, warrants to the lenders for the purchase of 172,826 shares of the Company’s common stock at $7.26 per share. The warrants expire in five years. There are additional warrant issuances associated with each tranche. If the second tranche of $5 million is utilized by the Company, the warrants that will be issued is up to twenty five percent of its commitment value divided by the five-day volume-weighted average price (“VWAP”) prior to utilization date. For tranches three to five, if any of these tranches are divided by the five-day VWAP. The Black-Scholes pricing model used the following assumptions: Expected term in years 5.0 Volatility 87.5 % Dividend yield 0.0 % Risk-free interest rate 0.7 % A summary of the Facility Agreement loan balance as of December 31, 2020 and March 31, 2020 is as follows: December 31, 2020 March 31, 2020 Face value of loan $ 5,000,000 $ 5,000,000 Debt discount (594,979 ) (594,979 ) Accretion of interest expense 105,415 5,107 Debt offering costs (71,063 ) (71,063 ) Facility agreement loan balance $ 4,439,373 $ 4,339,065 Maturity of Facility Agreement Loan December 31, 2020

Loan Payable

Loan Payable	9 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Loan Payable	NOTE 12 LOAN PAYABLE As of December 31, 2020, and March 31, 2020, in connection with the Company’s insurance policy, a loan was used to finance part of the premium. The loan was due in November 2020 with monthly payments of $42,366 bearing interest at 4.3%. The outstanding balance as of December 31, 2020 and March 31, 2020 was $0 and $335,358, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 13 COMMITMENTS AND CONTINGENCIES License Agreements On October 22, 2013, the Company entered into a patent license agreement with CareFusion (the “CareFusion Agreement”), pursuant to which the Company agreed to pay to CareFusion a non-refundable upfront fee of $150,000 that is credited against future royalties payments, and is obligated to pay 5% royalties of any licensed product net sales, but at least $50,000 per annum during the term of the agreement. As of December 31, 2020, the Company did not pay any royalties since the Company did not have any revenues from the technology associated with the license under the CareFusion Agreement. The term of CareFusion Agreement extends through the life of applicable patents and may be terminated by either party with 60 days’ prior written notice in the event of a breach of the agreement, and may be terminated unilaterally by CareFusion with 30 days’ prior written notice in the event that we do not meet certain milestones. In August 2015, BA Ltd. entered into an Option Agreement (the “Option Agreement”) with Pulmonox whereby BA Ltd. acquired the option to purchase certain intellectual property assets and rights (the “Option”) on September 7, 2016 for $25,000. On January 13, 2017, the Company exercised the Option and paid $500,000 to Pulmonox. The Company becomes obligated to make certain one-time development and sales milestone payments to Pulmonox, commencing with the date on which the Company receive regulatory approval for the commercial sale of the first product candidate qualifying under the Option Agreement. These milestone payments are capped at a total of $87 million across three separate and distinct indications that fall under the agreement, with the majority of them, approximately $83 million, being sales related based on cumulative sales milestones for each of the three products. On January 31, 2018 the Company entered into an agreement (the “NitriGen Agreement”) with NitricGen, Inc. (“NitricGen”) to acquire a global, exclusive, transferable license and associated assets including intellectual property, know-how, trade secrets and confidential information from NitricGen related to the LungFit™. The Company acquired the licensing right to use the technology and agreed to pay NitricGen a total of $2,000,000 in future payments based upon achieving certain milestones, as defined in the NitriGen Agreement, and royalties on sales of the LungFit™. The Company paid NitricGen $100,000 upon the execution of the NitriGen Agreement, $100,000 upon achieving the next milestone and issued 100,000 options to purchase the Company’s common stock valued at $295,000 upon executing the NitriGen Agreement. The remaining future milestone payments are $1,800,000 of which $1,500,000 is due after six months after the first approval of the LungFit™ by the FDA or the European Medicine Evaluation Agency. Employment Agreements Certain agreements between the Company and its officers contain a change of control provision for payment of severance arrangements. Supply Agreement and Purchase Order In August 2020, the Company entered into a supply agreement expiring on December 31, 2024. The agreement will renew automatically for successive three-year periods unless and until the Company provides twelve months’ notice of intent not to renew. In July 2020, the Company placed a non-cancellable purchase order and the outstanding amount as of December 31, 2020 is approximately $1,054,000 with this supplier. Operating Leases The Company cancelled a lease in May 2020 for its location in Madison, Wisconsin. In June 2020, the Company entered into a lease for office space and research facility in Madison, Wisconsin. The lease agreement expires in May 2026. In May 2018, the Company entered into an operating lease for its corporate office in Garden City, New York. In August 2020, the Company entered into an operating lease (the “2020 Operating Lease”) to move its corporate office to another location in Garden City, New York. It is expected that Beyond Air will move into this space in April 2021. The Company has other operating lease agreements with commitments of less than one year or that are not significant. The Company elected the practical expedient option and as such these lease payments are expensed as incurred. Included in the maturity of lease liabilities below is the aforementioned 2020 Operating Lease in the amount of $2,035,601, which upon commencement, the Company will record the operating lease liabilities and corresponding right-of-use assets on the balance sheet pursuant to ASU 2016-02. Other Information For The Nine Months Ended December 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Cash paid $ 73,743 Right-of-use assets obtained in exchange for new operating lease liabilities: - Weighted-average remaining lease term — operating leases 4.3 years Weighted-average discount rate — operating leases 8.3 % Maturity of Lease Liabilities Operating Leases Payments remaining for the year ended March 31,: 2021(excluding the nine months ended December 31, 2020) $ 27,359 2022 207,296 2023 283,330 2024 240,981 2025 230,940 Thereafter 1,349,266 Total lease payments 2,339,172 Less: interest (68,276 ) Present value of lease liabilities $ 2,270,896 Contingencies On March 16, 2018, Empery Asset Master, Ltd., Empery Tax Efficient, LP and Empery Tax Efficient II, LP, (collectively, “Empery”), filed a complaint in the Supreme Court of the State of New York (the “Court”), relating to the notice of adjustment of both the exercise price of and the number of warrant shares issuable under warrants issued to Empery in January 2017 (the “Empery Suit”). The Empery Suit alleges that, as a result of certain circumstances in connection with our February 2018 offering, the 166,672 warrants issued to Empery in January 2017 provide for adjustments to both the exercise price of the warrants and the number of warrant shares issuable upon such exercise. Empery seeks monetary damages and declaratory relief under theories of breach of contract or contract reformation predicated on mutual mistake. While the Company believes that it has complied with the applicable protective features of the 2017 Warrants and properly adjusted the exercise price, if Empery were to prevail on all claims, the new adjusted total number of warrant shares could be as follows: 319,967 warrant shares for Empery Asset Master, Ltd., 159,869 warrant shares for Empery Tax Efficient, LP and 252,672 warrant shares for Empery Tax Efficient II, LP, and the exercise price could be reduced from $3.66 to $1.57 per share. On March 9, 2020, the Company filed a motion for summary judgment, which was denied by order of the Court entered on August 20, 2020, except for the second claim for relief for declaratory judgment which was dismissed as moot. On October 1, 2020, the Company filed a Notice of Appeal and a motion seeking leave to reargue, and upon reargument, requesting that the Court grant summary judgment dismissing claims for breach of section 3(b) and reformation. The Court denied reargument on January 15, 2021. Appeal of the order denying the motion for summary judgment is pending. Trial is presently scheduled for April 19, 2021. The Company has several meritorious defenses against the claims and intends to vigorously defend itself. However, the ultimate resolution of the matter, if unfavorable, could result in a material loss. On December 18, 2019, the Company terminated the Circassia Agreement pursuant to which the Company had granted Circassia an exclusive royalty-bearing license to distribute, market and sell the Company’s NO generator and delivery system in the United States and China. As previously described in Note 9, Circassia had agreed to pay the Company certain milestone and royalty payments for the marketing rights of the Company’s PPHN indication, if approved and future related indications at concentrations of < 80 ppm in the hospital setting in the United States and China. The Company terminated the Circassia Agreement pursuant to section 13.3(b) thereof, which provides for termination by either party upon the other party’s material breach or default. In connection with the termination of the Circassia Agreement, we may be subject to a variety of claims. Adverse outcomes in some or all of these claims, if filed, may adversely affect our ability to conduct business and our financial condition and results of operations.

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 14 SUBSEQUENT EVENTS In January 2021, the Company received approximately $9.7 million net proceeds from the sale of shares through its ATM facility, and the LPC new agreement and through the exercise of warrants.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required to be presented for complete financial statements. The accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring items) which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The accompanying unaudited condensed consolidated Balance Sheet as of March 31, 2020 has been derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2020 (the “2020 Annual Report”), filed with the U.S. Securities and Exchange Commission (“SEC”) on June 23, 2020. The unaudited condensed consolidated financial statements and related disclosures should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in the 2020 Annual Report.
Principles of Consolidation	Principles of Consolidation These unaudited condensed consolidated financial statements include the accounts of the Company and the accounts of all subsidiaries. All intercompany balances and transactions have been eliminated in the accompanying financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its significant estimates and assumptions including expense recognition assumption under consulting and clinical trial agreements, stock-based compensation, warrant fair value, and the determination of valuation allowance requirements on deferred tax attributes.
Other Risks and Uncertainties	Other Risks and Uncertainties The Company is subject to risks common to medical device companies including, but not limited to, new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations, product liability, uncertainty of market acceptance of products and the potential need to obtain additional financing. The Company is dependent on third party suppliers, in some cases single-source suppliers. There can be no assurance that the Company’s product will be accepted in the marketplace, nor can there be any assurance that any future products can be developed or manufactured at an acceptable cost and with appropriate performance characteristics, or that such products will be successfully marketed, if at all. The Company’s products require approval or clearance from the FDA prior to commencing commercial sales in the United States. There can be no assurance that the Company’s products will receive all of the required approvals or clearances. Approvals or clearances are also required in foreign jurisdictions in which the Company may license or sell its products. If the Company is denied such approvals or clearances or such approvals or clearances are delayed, it may have a material adverse impact on the Company’s results of operations, financial position and liquidity. The development of our product candidates could be further disrupted and adversely affected by the ongoing COVID-19 pandemic. The spread of SARS CoV-2 resulted in the Director General of the World Health Organization declaring COVID-19 a pandemic on March 11, 2020. The Company has assessed the impact COVID-19 may have on the Company’s business plans and its ability to conduct the preclinical studies and clinical trials as well as on the Company’s reliance on third-party manufacturing and our supply chain. The Company experienced significant delays in the supply chain for LungFit™ due to the redundancy in parts and suppliers with ventilator manufacturing which has since been remedied. However, there can be no assurance that the Company will be able to further avoid part or all of any impact from COVID-19 or its consequences. The extent to which the COVID-19 pandemic and global efforts to contain its spread may impact the Company’s operations will depend on future developments.
Concentrations	Concentrations The Company is reliant on two vendors for commercial manufacturing of the LungFit™ generator and delivery systems and nitrogen dioxide filters for both clinical studies and future commercial supply if regulatory approval is received.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company’s concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains its cash and cash equivalents in bank deposit and other interest-bearing accounts in major banks in Israel, Ireland and the U.S., the balances of which, at times, may exceed federally insured limits. The Company has no off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements. As of December 31, 2020, and March 31, 2020, restricted cash consisted of $619,000 of cash designated for a contract manufacturer. This cash is expected to be used for material and parts that require a long lead time. Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at acquisition. The following table is the reconciliation of the presentation and disclosure of financial instruments as shown on the Company’s consolidated statements of cash flows: December 31, 2020 December 31, 2019 Cash and cash equivalents $ 22,016,310 $ 2,140,162 Restricted cash 637,699 636,364 Cash and cash equivalents and restricted cash $ 22,654,009 $ 2,776,526
Revenue Recognition	Revenue Recognition The Company recognizes revenue when transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. To determine revenue recognition for contracts with customers the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies the performance obligation(s). At contract inception, the Company assesses the goods or services promised within each contract, assess whether each promised good or service is distinct and identify those that are performance obligations. The Company uses judgment to determine: a) the number of performance obligations based on the determination under step (ii) above and whether those performance obligations are distinct from other performance obligations in the contract; b) the transaction price under step (iii) above; and c) the stand-alone selling price for each performance obligation identified in the contract for the allocation of transaction price in step (iv) above. The Company uses judgment to determine whether milestones or other variable consideration, except for royalties, should be included in the transaction price. The transaction price is allocated to each performance obligation on an estimated stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under the contract are satisfied, see Note 10. Where a portion of non-refundable up-front fees or other payments received are allocated to continuing performance obligations under the terms of a license arrangement, they are recorded as contract liabilities and recognized as revenue when (or as) the underlying performance obligation is satisfied.
Segment Reporting	Segment reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. To date, the Company has viewed its operations and managed its business as one segment.
Research and Development	Research and Development Research and development expenses are charged to the statement of operations as incurred. Research and development expenses include salaries, benefits, stock-based compensation and costs incurred by outside laboratories, manufacturers, clinical research organizations, consultants, and accredited facilities in connection with clinical trials and preclinical studies. Research and development projects that have no alternative uses have been expensed as incurred.
Foreign Exchange Transactions	Foreign Exchange Transactions The Company’s subsidiaries have operations in Israel, Ireland, and in Australia. Beyond Air’s operations are in the United States and the U.S. dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. Thus, the functional and reporting currency of the Company is the U.S. dollar. The Company translated its non-U.S. operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations as of December 31, 2020 were not material. Gains or losses from foreign currency transactions are included in other income (loss) in the statement of operations as foreign currency exchange gains/(losses).
Stock-Based Compensation	Stock-Based Compensation The Company measures the cost of employee and non-employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. Fair value for restricted stock awards is valued using the closing price of the Company’s stock on the date of grant. The grant date fair value is recognized over the period during which an employee and non-employee is required to provide service in exchange for the award – the requisite service period. The grant date fair value of employee share options is estimated using the Black-Scholes option pricing model. The risk-free interest rate assumptions were based upon the observed interest rates appropriate for the expected term of the equity instruments. The expected dividend yield was assumed to be zero as the Company has not paid any dividends since its inception and does not anticipate paying dividends in the foreseeable future. Due to the Company’s limited trading history, the Company utilizes an implied volatility based on an aggregate of guideline companies. In 2020, the Company began to incorporate and weight its historical volatility with its peer group in order to obtain expected volatility. The peer companies selected have similar characteristics, including industry and market capitalization. The Company routinely reviews its calculation of volatility based on, the Company’s life cycle, its peer group, and other factors. The Company uses the simplified method to estimate the expected term.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation and accumulated amortization. Depreciation and amortization is calculated using the straight-line method over the estimated useful life of the assets as follows: Computers equipment Three years Furniture and fixtures Seven years Clinical and medical equipment Five or Fifteen years Leasehold improvements Shorter of term of lease or estimated useful life of the asset
Licensed Right to Use Technology	Licensed Right to Use Technology Licensed right to use technology that is considered platform technology with alternative future uses is recorded as an intangible asset and is being amortized on a straight-line method over its estimated useful life, determined to be thirteen years, see Note 13.
Long Lived Assets	Long Lived Assets The Company assess the impairment of long-lived assets on an ongoing basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors we consider that could trigger an impairment review include the following: ● significant underperformance relative to expected historical or projected future operating results, ● significant changes in the manner of our use of the acquired assets or the strategy for our overall business, ● significant negative regulatory or economic trends, and ● significant technological changes, which would render the platform technology, equipment, and manufacturing processes obsolete. Recoverability of assets that will continue to be used in our operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimated future costs. There were no events during the reporting periods that were deemed to be a triggering event that would require an impairment assessment.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their 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 the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of December 31, 2020, and March 31, 2020, the Company recorded a valuation allowance to the full extent of our net deferred tax assets since the likelihood of realization of the benefit does not meet the more likely than not threshold. The Company files U.S. Federal, various state, and International income tax returns. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances. Such adjustment is reflected in the tax provision when appropriate .
Net Income (Loss) Per Share	Net Income (Loss) Per Share Basic and diluted net loss per share attributable to common shareholders is computed by dividing the net loss and deemed dividend from a warrant modification to common shareholders by the weighted average number of shares of common stock outstanding for the period. The dilutive effect of outstanding options, warrants, restricted stock and other stock-based compensation awards is reflected in diluted net income (loss) per share by application of the treasury stock method. The calculation of diluted net income (loss) attributed to common shareholders per share excludes all anti-dilutive shares of common stock. For periods in which the Company has reported net losses, diluted net loss per share attributable to common shareholders is the same as basic net loss per share attributable to common shareholders, because such shares of common stock are not assumed to have been issued if their effect is anti-dilutive, see Note 9.
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”) as part of its initiative to reduce complexity in the accounting standards. ASU 2019-12 eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The standard also clarifies and simplifies other aspects of the accounting for income taxes. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company does not anticipate the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. ASU 2020-06 is effective for the Company on December 1, 2022, Early adoption is permitted, but no earlier than December 1, 2021. The Company is currently evaluating the impact of ASU 2020-06 on its condensed consolidated financial statements and related disclosures.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents and Restricted Cash	The following table is the reconciliation of the presentation and disclosure of financial instruments as shown on the Company’s consolidated statements of cash flows: December 31, 2020 December 31, 2019 Cash and cash equivalents $ 22,016,310 $ 2,140,162 Restricted cash 637,699 636,364 Cash and cash equivalents and restricted cash $ 22,654,009 $ 2,776,526
Schedule of Property and Equipment Useful Life of Assets	Depreciation and amortization is calculated using the straight-line method over the estimated useful life of the assets as follows: Computers equipment Three years Furniture and fixtures Seven years Clinical and medical equipment Five or Fifteen years Leasehold improvements Shorter of term of lease or estimated useful life of the asset

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following as of December 31, 2020 and March 31, 2020, respectively: December 31, 2020 March 31, 2020 Clinical and medical equipment $ 1,114,760 $ 357,795 Computer equipment 131,621 73,982 Furniture and fixtures 93,245 53,895 Leasehold improvements 21,840 5,336 1,361,466 491,008 Accumulated depreciation and amortization (404,707 ) (279,671 ) $ 956,759 $ 211,337

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Restricted Shares Activity	Number Of Shares Weighted Average Grant Date Fair Value Unvested as of April 1, 2020 646,800 $ 4.99 Granted 62,000 5.81 Vested (135,000 ) 4.99 Unvested as of December 31, 2020 573,800 $ 5.08
Schedule of Option Activity	A summary of the change in options for the nine months ended December 31, 2020 is as follows: Number Of Options Weighted Weighted Aggregate Options outstanding as of April 1, 2020 3,053,589 $ 4.77 8.4 $ 9,878,264 Granted 122,000 5.11 9.3 Exercised (2,340 ) 0.1 - Outstanding as of December 31, 2020 3,173,249 $ 4.8 8.0 $ 1,770,400 Exercisable as of December 31, 2020 1,715,849 $ 4.55 7.5 $ 1,251,025
Schedule of Assumption of Black-Scholes Option Pricing Model	The following was utilized to calculate the fair value of options on the date of grant: December 31, 2020 December 31, 2019 Risk -free interest rate 0.5 - 0.7 % 1.4 - 2.3 % Expected volatility 87.8 - 92.54 % 82.3 - 83.4 % Dividend yield 0 % 0 % Expected terms (in years) 5.18 - 6.25 6.25
Schedule of Stock-based Compensation Expense	The following summarizes the components of stock-based compensation expense which includes stock options and restricted stock for the three and nine months ended December 31, 2020 and December 31, 2019, respectively: Three Months Ended Nine Months Ended December 31, December 31, 2020 2019 2020 2019 Research and development $ 376,424 $ 97,765 $ 1,665,372 $ 431,453 General and administrative 684,339 616,809 2,390,659 2,125,155 Total stock-based compensation expense $ 1,060,763 $ 714,574 $ 4,056,131 $ 2,556,608
Schedule of Assumption of Black-Scholes Option Pricing Model of Warrants	Expected term in years 2.2 Volatility 87 % Dividend yield 0.0 % Risk-free interest rate 1.7 %
Summary of Company's Outstanding Warrants	A summary of the Company’s outstanding warrants as of December 31, 2020 are as follows: Warrant Holders Number Of Warrants Exercise Price Date of Expiration January 2017 offering - investors 2,977,232 $ 3.66 January 2022 (a) March 2017 offering - investors 68,330 $ 3.66 March 2022 (a) March 2017 offering - placement agent 7,541 $ 3.66 March 2022 (a) February 2018 offering - investors 1,525,232 $ 4.25 February 2021 Third-party license agreement 208,333 $ 4.80 January 2024 March 2020 loan (see Note 11) 172,187 $ 7.26 March 2025 Total 4,958,855 (a) These warrants have down round protection.

Other Current Assets Prepaid _2

Other Current Assets Prepaid Expenses (Tables)	9 Months Ended
	Dec. 31, 2020
Current Assets and Prepaid Expenses [Abstract]
Schedule of Current Assets and Prepaid Expenses	A summary of current assets and prepaid expenses as of December 31, 2020 and March 31, 2020 is as follows: December 31, 2020 March 31, 2020 Research and development $ 94,607 $ 266,510 Insurance 110,742 471,182 Professional 25,000 156,259 Value added tax receivable 46,568 124,127 Other 148,445 131,728 Total $ 425,362 $ 1,149,806

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Summary of Accrued Expenses	A summary of the accrued expenses as of December 31, 2020 and March 31, 2020 is as follows: December 31, 2020 March 31, 2020 Research and development $ 623,653 $ 484,756 Professional fees 406,062 476,638 Employee salaries and benefits 275,671 71,066 Interest expense 9,218 - Other 119,483 65,074 Total $ 1,434,087 $ 1,097,534

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Operating Lease Liability	December 31, 2020 March 31, 2020 Right-of-use assets $ 357,871 $ 195,727 Operating lease liability short-term $ 84,388 $ 69,342 Operating lease liability long-term 279,594 131,581 Total $ 363,982 $ 200,923

Basic and Diluted Net Income _2

Basic and Diluted Net Income (Loss) Per Common Share (Tables)	9 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Potential Anti-Dilutive Securities	The following potentially dilutive securities were not included in the calculation of diluted net income (loss) per share attributable to common shareholders because their effect would have been anti-dilutive for the periods presented: December 31, 2020 December 31, 2019 Common stock warrants 4,958,855 6,143,405 Common stock options 3,173,249 2,287,049 Restricted shares 573,800 654,000 Total 8,705,904 9,084,454

Facility Agreement Loan (Tables

Facility Agreement Loan (Tables)	9 Months Ended
	Dec. 31, 2020
Facility Agreement Loan
Schedule of Black-Scholes Model Assumption of Warrants	The Black-Scholes pricing model used the following assumptions: Expected term in years 5.0 Volatility 87.5 % Dividend yield 0.0 % Risk-free interest rate 0.7 %
Schedule of Facility Agreement Loan	A summary of the Facility Agreement loan balance as of December 31, 2020 and March 31, 2020 is as follows: December 31, 2020 March 31, 2020 Face value of loan $ 5,000,000 $ 5,000,000 Debt discount (594,979 ) (594,979 ) Accretion of interest expense 105,415 5,107 Debt offering costs (71,063 ) (71,063 ) Facility agreement loan balance $ 4,439,373 $ 4,339,065
Schedule of Maturity of Facility Agreement Loan	Maturity of Facility Agreement Loan December 31, 2020 2021 $ - 2022 - 2023 1,500,000 2024 2,750,000 2025 750,000 Total $ 5,000,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lease Other Information	Other Information For The Nine Months Ended December 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Cash paid $ 73,743 Right-of-use assets obtained in exchange for new operating lease liabilities: - Weighted-average remaining lease term — operating leases 4.3 years Weighted-average discount rate — operating leases 8.3 %
Schedule of Maturity of Lease Liabilities	Maturity of Lease Liabilities Operating Leases Payments remaining for the year ended March 31,: 2021(excluding the nine months ended December 31, 2020) $ 27,359 2022 207,296 2023 283,330 2024 240,981 2025 230,940 Thereafter 1,349,266 Total lease payments 2,339,172 Less: interest (68,276 ) Present value of lease liabilities $ 2,270,896

Organization and Business (Deta

Organization and Business (Details Narrative) - USD ($)	May 14, 2020	May 13, 2020	Apr. 02, 2020	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020	Mar. 02, 2020
Cash used in operating activities				$ (14,070,135)	$ (10,390,620)
Accumulated losses				(75,230,321)		$ (57,587,076)
Cash and equivalents				$ 22,654,009	$ 2,776,526
Proceeds from issuance of equity			$ 50,000,000
Facility Agreement [Member]
Unsecured loan							$ 25,000,000
Facility Agreement [Member] | After PMA Filing [Member]
Unsecured loan							15,000,000
Facility Agreement [Member] | Five Tranche [Member]
Unsecured loan							5,000,000
Facility Agreement [Member] | Tranche [Member]
Unsecured loan							$ 5,000,000
New Purchase Agreement [Member] | Lincoln Park Capital Fund, LLC [Member]
Proceeds from issuance of common stock	$ 40,000,000	$ 20,000,000
Purchase agreement, description	A $40 million stock purchase agreement ("New Stock Purchase Agreement") with Lincoln Park Capital Fund, LLC ("LPC"), that replaced the former $20 million purchase agreement with LPC, dated August 10, 2018. The New Stock Purchase Agreement provides for issuances through May 2023 at the Company's discretion.

Significant Accounting Polici_4

Significant Accounting Policies (Details Narrative)	9 Months Ended
	Dec. 31, 2020USD ($)Number	Mar. 31, 2020USD ($)
Number of operating segment | Number	1
Intangible asset useful life	13 years
Contract Manufacturer [Member]
Restricted cash | $	$ 619,000	$ 619,000

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 22,016,310	$ 19,829,275	$ 2,140,162
Restricted cash	637,699	$ 5,635,836	636,364
Cash and cash equivalents and restricted cash	$ 22,654,009		$ 2,776,526

Significant Accounting Polici_6

Significant Accounting Policies - Schedule of Property and Equipment Useful Life of Assets (Details)	9 Months Ended
	Dec. 31, 2020
Computers Equipment [Member]
Estimated useful life of assets	3 years
Furniture and Fixtures [Member]
Estimated useful life of assets	7 years
Clinical and Medical Equipment [Member]
Estimated useful life of assets, description	Five or Fifteen years
Clinical and Medical Equipment [Member] | Minimum [Member]
Estimated useful life of assets	5 years
Clinical and Medical Equipment [Member] | Maximum [Member]
Estimated useful life of assets	15 years
Leasehold Improvements [Member]
Estimated useful life of assets, description	Shorter of term of lease or estimated useful life of the asset

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 51,428	$ 23,190	$ 125,036	$ 57,009

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Property and equipment, gross	$ 1,361,466	$ 491,008
Accumulated depreciation and amortization	(404,707)	(279,671)
Property and equipment, net	956,759	211,337
Clinical and Medical Equipment [Member]
Property and equipment, gross	1,114,760	357,795
Computer Equipment [Member]
Property and equipment, gross	131,621	73,982
Furniture and Fixtures [Member]
Property and equipment, gross	93,245	53,895
Leasehold Improvements [Member]
Property and equipment, gross	$ 21,840	$ 5,336

Shareholder's Equity (Details N

Shareholder's Equity (Details Narrative) - USD ($)

Jan. 09, 2021

May 14, 2020

Apr. 02, 2020

Jan. 23, 2020

Dec. 12, 2019

Jun. 03, 2019

Dec. 26, 2018

May 31, 2020

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Dec. 31, 2019

Jun. 30, 2019

Dec. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Mar. 31, 2020

Mar. 31, 2017

Jan. 31, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of common stock issued, value

$ 3,131,347

$ 1,536,247

$ 899,540

$ 1,173,810

Stock-based compensation

$ 1,060,763

$ 714,574

$ 4,056,131

$ 2,556,608

Weighted average remaining service period

8 years

Weighted average fair value of options granted

$ 5.11

2013 Incentive Option Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options vesting terms, description

The vesting terms of the options issued under the 2013 Plan are generally between two and four years and expire up to ten years after the grant date.

Common stock, shares available for future issuance

4,100,000

4,100,000

Available shares

7,047

7,047

Number of options agreed to issue

60,000

Amendment description

On January 9, 2021, the Company's board approved an amendment to the 2013 Plan to increase the number of shares in the plan by 1,500,000, with such amendment being subject to shareholder vote at the 2021 annual stockholder meeting, scheduled for March 4, 2021. As of December 31, 2020, the Company agreed to issue 60,000 options, which are subject to shareholder approval of the increase in shares allocated to the 2013 Plan.

2013 Incentive Option Plan [Member] | Subsequent Event [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Increase in number of shares

1,500,000

Annual meeting, scheduled date

Mar. 4, 2021

2013 Incentive Option Plan [Member] | Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options vesting terms

2 years

2013 Incentive Option Plan [Member] | Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options vesting terms

4 years

December 2019 Equity Offering [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants exercise price

$ 4.25

2019 Offering [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants exercise price

$ 3.66

Restricted Shares [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based compensation

$ 291,452

$ 84,477

$ 1,062,628

$ 432,756

Unvested Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized stock based compensation expense

2,538,200

$ 2,538,200

Weighted average remaining service period

1 year 8 months 12 days

Weighted average fair value of options granted

$ 5.20

$ 3.49

Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Incremental value of warrant

$ 522,478

$ 522,478

Warrants exercised

52,667

206,537

Proceeds from warrants exercise

$ 223,835

$ 821,940

Warrant exercised on a cashless basis

8,332

8,332

Share issued upon warrant exercise

2,536

2,536

Vendor [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Common stock shares issued services

30,000

30,000

Fair value of liability

$ 242,100

$ 240,000

Officers, Employees and Consultants [Member] | Restricted Shares [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options vesting terms

5 years

Common Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of common stock issued

575,448

227,527

113,712

250,000

Number of common stock issued, value

$ 57

$ 23

$ 11

$ 25

Common Stock [Member] | Private Placement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Sale of stock

532,786

CEO [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Purchase shares of common stock

$ 699,999

Sale of stock price per share

$ 3.66

Number of common stock issued

58,253

Number of common stock issued, value

$ 300,000

Shares issued price per share

$ 5.15

Number of shares purchased

190,437

Directors and Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of common stock issued

118,254

Number of common stock issued, value

$ 610,000

Shares issued price per share

$ 5.15

Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Purchase shares of common stock

$ 475,000

Sale of stock price per share

$ 3.66

Number of shares purchased

129,781

New Stock Purchase Agreement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Purchase shares of common stock

$ 40,000,000

Sale of stock price per share

$ 0.25

Purchase Agreement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Purchase shares of common stock

$ 20,000,000

Purchase Agreement [Member] | Investors [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Proceeds from issuance of stock

$ 7,839,495

Number of common stock issued

1,583,743

NewStock and Former Purchase Agreement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Proceeds from issuance of stock

2,433,547

$ 6,075,228

LPC New Agreement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares available under agreement, value

34,777,953

At-The-Market Equity Offering [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Purchase shares of common stock

$ 50,000,000

Proceeds from issuance of stock

$ 50,000,000

$ 3,131,347

5,567,134

Shares available under agreement, value

$ 44,292,866

Underwritten Offering and Concurrent Private Placement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Proceeds from issuance of stock

$ 10,169,343

Sale of stock price per share

$ 3.66

Number of common stock issued

3,152,985

Shareholder's Equity - Schedule

Shareholder's Equity - Schedule of Restricted Shares Activity (Details)	9 Months Ended
	Dec. 31, 2020$ / sharesshares
Equity [Abstract]
Unvested Number of Shares, Beginning balance | shares	646,800
Number of Shares, Granted | shares	62,000
Number of Shares, Vested | shares	(135,000)
Unvested Number of Shares, Ending balance | shares	573,800
Weighted Average Grant Date Fair Value, Beginning balance | $ / shares	$ 4.99
Weighted Average Grant Date Fair Value, Granted | $ / shares	5.81
Weighted Average Grant Date Fair Value, Vested | $ / shares	4.99
Weighted Average Grant Date Fair Value, Ending balance | $ / shares	$ 5.08

Shareholder's Equity - Schedu_2

Shareholder's Equity - Schedule of Option Activity (Details)	9 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Equity [Abstract]
Number of Options, Outstanding at beginning of period | shares	3,053,589
Number of Options, Granted | shares	122,000
Number of Options, Exercised | shares	(2,340)
Number of Options, Outstanding at end of period | shares	3,173,249
Number of Options, Exercisable at end of period | shares	1,715,849
Weighted Average Exercise Price - Options, Outstanding at beginning of period | $ / shares	$ 4.77
Weighted Average Exercise Price - Options, Granted | $ / shares	5.11
Weighted Average Exercise Price - Options, Exercised | $ / shares	0.1
Weighted Average Exercise Price - Options, Outstanding at end of period | $ / shares	4.8
Weighted Average Exercise Price - Options, Exercisable at end of period | $ / shares	$ 4.55
Weighted Average Remaining Contractual Life - Options, Outstanding at beginning of period	8 years 4 months 24 days
Weighted Average Remaining Contractual Life - Options, Granted	9 years 3 months 19 days
Weighted Average Remaining Contractual Life - Options, Outstanding at end of period	8 years
Weighted Average Remaining Contractual Life - Options, Exercisable at end of period	7 years 6 months
Aggregate Intrinsic Value, Outstanding at beginning of period | $	$ 9,878,264
Aggregate Intrinsic Value, Granted | $
Aggregate Intrinsic Value, Exercised | $
Aggregate Intrinsic Value, Outstanding at end of period | $	1,770,400
Aggregate Intrinsic Value, Exercisable at end of period | $	$ 1,251,025

Shareholder's Equity - Schedu_3

Shareholder's Equity - Schedule of Assumption of Black-Scholes Option Pricing Model (Details)	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Dividend yield	0.00%	0.00%
Expected term (in years)		6 years 2 months 30 days
Minimum [Member]
Risk-free interest rate	0.50%	1.40%
Expected volatility	87.80%	82.30%
Expected term (in years)	5 years 2 months 5 days
Maximum [Member]
Risk-free interest rate	0.70%	2.30%
Expected volatility	92.54%	83.40%
Expected term (in years)	6 years 2 months 30 days

Shareholder's Equity - Schedu_4

Shareholder's Equity - Schedule of Stock-based Compensation Expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Share-based compensation expense	$ 1,060,763	$ 714,574	$ 4,056,131	$ 2,556,608
Research and Development [Member]
Share-based compensation expense	376,424	97,765	1,665,372	431,453
General and Administrative [Member]
Share-based compensation expense	$ 684,339	$ 616,809	$ 2,390,659	$ 2,125,155

Shareholder's Equity - Schedu_5

Shareholder's Equity - Schedule of Assumption of Black-Scholes Option Pricing Model of Warrants (Details)	Dec. 31, 2020
Expected Term [Member]
Warrant term	2 years 2 months 12 days
Volatility [Member]
Warrants measurement input	87
Dividend Yield [Member]
Warrants measurement input	0
Risk Free Interest Rate [Member]
Warrants measurement input	1.7

Shareholder's Equity - Summary

Shareholder's Equity - Summary of Company's Outstanding Warrants (Details)	9 Months Ended
	Dec. 31, 2020$ / sharesshares
Number of Warrants	4,958,855
Third Party License Agreement [Member]
Number of Warrants	208,333
Exercise Price | $ / shares	$ 4.80
Date of Expiration	January 2024
January 2017 [Member] | Investors [Member]
Number of Warrants	2,977,232
Exercise Price | $ / shares	$ 3.66
Date of Expiration	January 2022	[1]
March 2017 [Member] | Investors [Member]
Number of Warrants	68,330
Exercise Price | $ / shares	$ 3.66
Date of Expiration	March 2022	[1]
March 2017 [Member] | Placement Agent [Member]
Number of Warrants	7,541
Exercise Price | $ / shares	$ 3.66
Date of Expiration	March 2022	[1]
February 2018 [Member] | Investors [Member]
Number of Warrants	1,525,232
Exercise Price | $ / shares	$ 4.25
Date of Expiration	February 2021
March 2020 [Member] | Loan [Member]
Number of Warrants	172,187
Exercise Price | $ / shares	$ 7.26
Date of Expiration	March 2025
[1]	These warrants have down round protection.

Other Current Assets Prepaid _3

Other Current Assets Prepaid Expenses - Schedule of Current Assets and Prepaid Expenses (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Prepaid expenses	$ 425,362	$ 1,149,806
Research and Development [Member]
Prepaid expenses	94,607	266,510
Insurance [Member]
Prepaid expenses	110,742	471,182
Professional [Member]
Prepaid expenses	25,000	156,259
Value Added Tax Receivable [Member]
Prepaid expenses	46,568	124,127
Other [Member]
Prepaid expenses	$ 148,445	$ 131,728

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Payables and Accruals [Abstract]
Research and development	$ 623,653	$ 484,756
Professional fees	406,062	476,638
Employee salaries and benefits	275,671	71,066
Interest expense	9,218
Other	119,483	65,074
Total	$ 1,434,087	$ 1,097,534

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Operating lease liabilities	$ 363,982	$ 200,923
Operating lease right-of-use assets	357,871	$ 195,727
Gain on lease	$ 1,843
Weighted average discount rate	8.30%	8.30%
Weighted average remaining term	4 years 3 months 19 days	3 years
New Lease and Cancelled Lease [Member]
Operating lease liabilities	$ 236,700
Operating lease right-of-use assets	236,900
Cancellation of Lease [Member]
Operating lease liabilities	19,329
Operating lease right-of-use assets	$ 17,486

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Liability (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Leases [Abstract]
Right- of- use assets	$ 357,871	$ 195,727
Operating lease liability short-term	84,388	69,342
Operating lease liability long-term	279,594	131,581
Total operating lease liability	$ 363,982	$ 200,923

Basic and Diluted Net Income _3

Basic and Diluted Net Income (Loss) Per Common Share - Schedule of Potential Anti-Dilutive Securities (Details) - shares	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Total	8,705,904	9,084,454
Common Stock Warrants [Member]
Total	4,958,855	6,143,405
Common Stock Options [Member]
Total	3,173,249	2,287,049
Restricted Shares [Member]
Total	573,800	654,000

License Agreement (Details Narr

License Agreement (Details Narrative) - USD ($)	3 Months Ended			9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Deferred revenue	$ 145,628			$ 145,628		$ 873,190
License revenues	148,794	$ 314,379		727,562	$ 1,587,450
License Agreement [Member]
First two milestone ordinary shares			17,572,815
First two milestone ordinary shares, value			$ 9,987,295
Deferred revenue	145,628			145,628
License revenues	$ 349,607	$ 645,602		$ 727,562	$ 1,273,071
License Agreement [Member] | Second Obligation [Member]
Deferred revenue			2,871,063
License Agreement [Member] | Intellectual Property [Member] | First Obligation [Member]
Revenue allocated to performance obligations			$ 7,116,232

Facility Agreement Loan (Detail

Facility Agreement Loan (Details Narrative) - USD ($)	Mar. 17, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Debt instrument, interest rate, stated percentage		4.30%		4.30%
Interest expenses		$ 157,960		$ 480,234
Facility Agreement [Member] | Lenders [Member]
Proceeds from loan				3,160,000
Interest expenses		$ 79,000		158,000
Facility Agreement [Member] | Lenders [Member] | Warrant [Member]
Warrants to purchase						172,826
Warrants exercise price						$ 7.26
Warrants expire term						5 years
Fair value of warrant				$ 594,979
Facility Agreement [Member] | Lenders [Member] | Five Tranches [Member]
Loan	$ 25,000,000
Debt instrument, interest rate, stated percentage	10.00%
Debt instrument, interest rate, effective percentage	13.30%
Debt instrument, maturity date, description	Each tranche shall be repaid in installments commencing June 15, 2023 with all amounts outstanding under any tranche due on March 17, 2025.
Facility Agreement [Member] | Lenders [Member] | Tranches [Member]
Loan	$ 5,000,000
Facility Agreement [Member] | Lenders [Member] | Second Tranche [Member]
Loan	$ 5,000,000
Warrants description	The warrants that will be issued is up to twenty five percent of its commitment value divided by the five day volume weighed average price "(VWAP") prior to utilization date. For tranches three to five, if any of these tranches are utilized by the Company, the warrants that will be issued is up to ten percent of its commitment value divided by the five day VWAP.

Facility Agreement Loan - Sched

Facility Agreement Loan - Schedule of Black-Scholes Model Assumption of Warrants (Details)	Dec. 31, 2020
Expected Term [Member]
Warrants outstanding, term	2 years 2 months 12 days
Expected Term [Member] | Facility Agreement Loan [Member]
Warrants outstanding, term	5 years
Volatility [Member]
Warrants outstanding, measurement input	87
Volatility [Member] | Facility Agreement Loan [Member]
Warrants outstanding, measurement input	87.5
Dividend Yield [Member]
Warrants outstanding, measurement input	0
Dividend Yield [Member] | Facility Agreement Loan [Member]
Warrants outstanding, measurement input	0
Risk-free Interest Rate [Member]
Warrants outstanding, measurement input	1.7
Risk-free Interest Rate [Member] | Facility Agreement Loan [Member]
Warrants outstanding, measurement input	0.7

Facility Agreement Loan - Sch_2

Facility Agreement Loan - Schedule of Facility Agreement Loan (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Facility Agreement Loan
Face value of loan	$ 5,000,000	$ 5,000,000
Debt discount	(594,979)	(594,979)
Accretion of interest expense	105,415	5,107
Deferred offering costs	(71,063)	(71,063)
Facility agreement loan balance	$ 4,439,373	$ 4,339,065

Facility Agreement Loan - Sch_3

Facility Agreement Loan - Schedule of Maturity of Facility Agreement Loan (Details)	Dec. 31, 2020USD ($)
Facility Agreement Loan
2021
2022
2023	1,500,000
2024	2,750,000
2025	750,000
Total	$ 5,000,000

Loan Payable (Details Narrative

Loan Payable (Details Narrative) - USD ($)	9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Debt Disclosure [Abstract]
Monthly payments	$ 42,366
Debt interest rate	4.30%
Outstanding balance		$ 335,358

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative)	Jan. 31, 2018USD ($)shares	Jan. 13, 2017USD ($)	Sep. 07, 2016USD ($)	Oct. 22, 2013USD ($)	Aug. 31, 2020USD ($)	Jun. 30, 2020	Dec. 31, 2020USD ($)	Jul. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Mar. 16, 2018$ / sharesshares
Outstanding balance									$ 335,358
Operating lease agreement expire date description						The lease agreement expires in May 2026.
Operating lease							73,743
Warrant [Member]
Warrants issued | shares										166,672
2017 Warrants [Member] | Minimum [Member]
Warrants exercise price | $ / shares										$ 3.66
2017 Warrants [Member] | Maximum [Member]
Warrants exercise price | $ / shares										$ 1.57
Suplier [Member]
Purchase payable, commitments								$ 1,054,000
Outstanding balance							$ 1,054,000
NitricGen, Inc [Member]
Future payments based on certain milestones	$ 2,000,000
Empery Asset Master, Ltd [Member] | 2017 Warrants [Member]
Warrants exercised | shares										319,967
Empery Tax Efficient, LP [Member] | 2017 Warrants [Member]
Warrants exercised | shares										159,869
Empery Tax Efficient II, LP [Member] | 2017 Warrants [Member]
Warrants exercised | shares										252,672
Patent License Agreement [Member] | CareFusion [Member]
Non-refundable upfront fee				$ 150,000
Royalty percentage				0.05
Payment to royalties				$ 50,000
Option Agreement [Member]
Acquisition cost to purchase intellectual property assets and rights			$ 25,000
Payments for development and milestone payment		$ 500,000
Milestone payments		87,000,000
Sales related milestones payments		$ 83,000,000
Execution Agreement [Member]
Future payments based on certain milestones	1,800,000
Execution Agreement [Member] | After Six Months [Member]
Future payments based on certain milestones	1,500,000
Execution Agreement [Member] | NitricGen, Inc [Member]
Payment to royalties	100,000
Future payments based on certain milestones	$ 100,000
Options to purchase common stock | shares	100,000
Options to purchase common stock, value	$ 295,000
Supply Agreement [Member]
Agreement expiring date					Dec. 31, 2024
Agreement renewal term					3 years
2020 Operating Lease [Member]
Operating lease					$ 2,035,601

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Lease Other Information (Details) - USD ($)	9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Cash paid	$ 73,743
Weighted-average remaining lease term - operating leases	4 years 3 months 19 days	3 years
Weighted-average discount rate - operating leases	8.30%	8.30%

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Maturity of Lease Liabilities (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Present value of lease liabilities	$ 363,982	$ 200,923
Maturity of Lease Liabilities [Member]
2021(excluding the nine months ended December 31, 2020)	27,359
2022	207,296
2023	283,330
2024	240,981
2025	230,940
Thereafter	1,349,266
Total lease payments	2,339,172
Less: interest	(68,276)
Present value of lease liabilities	$ 2,270,896

Subsequent Events (Details Narr

Subsequent Events (Details Narrative)	1 Months Ended
	Jan. 31, 2021USD ($)
Subsequent Event [Member] | ATM Facility and LPC New Agreement [Member]
proceeds from the sale of exercise of warrants	$ 9,700,000