Equity Components [Axis]
Series B Preferred Stock [Member]
Series C Preferred Stock [Member]
Series A Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Treasury Stock [Member]
Accumulated Deficit [Member]
Income Statement Location [Axis]
Research and Development Expense [Member]
General and Administrative Expense [Member]
Award Type [Axis]
Stock Option [Member]
Warrant [Member]
Property, Plant and Equipment, Type [Axis]
Office Furniture And Equipment [Member]
RelatedPartyTransactionsByRelatedParty [Axis]
CRL [Member]
Exercise Price Range [Axis]
$1.16 to $1.21 [Member]
$1.56 to $1.96 [Member]
$3.49 to $4.27 [Member]
$8.00 to $15.00 [Member]
Plan Name [Axis]
Amended and Restated 2016 and 1999 Stock [Member]
Laboratory Equipment [Member]
Tenant Improvements [Member]
Computers and Network Equipment [Member]
Antidilutive Securities [Axis]
2016 (formerly 2008) and 1999 Stock Incentive Plans [Member]
Warrants [Member]
Range [Axis]
Minimum [Member]
Maximum [Member]
Debt Instrument [Axis]
8.25% Note payable to insurance premium financing company
Warrant One [Member]
Warrant Two [Member]
Warrant Three [Member]
Warrant Four [Member]
Warrant Five [Member]
Warrant Six [Member]
Warrant Seven [Member]
Warrant Eight [Member]
Warrant Nine [Member]
Warrant Ten [Member]
April - May 2016 warrants
Pre-Modification [Member]
Post-Modification [Member]
August 2016 warrants
October 2016 warrants
December 2016 warrants
Pre-reset [Member]
Post-reset [Member]
Warrant Eleven [Member]
Leased Assets [Member]
Owned Assets [Member]
Document And Entity Information
Entity Registrant Name
Entity Central Index Key
Document Type
Trading Symbol
Document Period End Date
Amendment Flag
Current Fiscal Year End Date
Entity a Well-known Seasoned Issuer
Entity a Voluntary Filer
Entity's Reporting Status Current
Entity Filer Category
Entity Public Float
Entity Common Stock, Shares Outstanding
Document Fiscal Period Focus
Document Fiscal Year Focus
Statement [Table]
Statement [Line Items]
ASSETS
Current assets:
Cash and cash equivalents
Prepaid expenses and other current assets
Total current assets
Property and equipment, net
Security deposits and other assets
Total assets
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities:
Accounts payable
Accrued expenses
Current notes payable
Capital lease obligations
Total current liabilities
Non-current liabilities:
Accrued dividends on Series B Preferred Stock
Deferred rent liability
Capital lease obligations
Total non-current liabilities
Total liabilities
Commitments and contingencies
Stockholders' deficit:
Preferred stock
Common stock, $0.001 par value; 100,000,000 and 30,000,000 shares authorized at March 31, 2018 and March 31, 2017, respectively; 23,068,280 and 8,974,386 shares issued and outstanding at March 31, 2018 and March 31, 2017, respectively
Additional paid-in capital
Treasury stock, at cost, 135,665 shares of common stock held at March 31, 2018 and 2017
Accumulated deficit
Total stockholders’ equity (deficit)
Total liabilities and stockholdersÂ’ equity (deficit)
Preferred stock, par value (in dollars per share)
Preferred stock, authorized
Preferred stock, issued
Preferred stock, outstanding
Common stock, par value (in dollars per share)
Common stock, authorized
Common stock, issued
Treasury stock, shares
Income Statement [Abstract]
Revenues:
Sublicense fees
Total revenues
Operating expenses:
Research and development
General and administrative
Total operating expenses
Loss from operations
Other expenses, net:
Interest expense, net
Change in warrant liability
Loss on extinguishment of accounts payable
Other expense
Loss before income taxes
Income taxes
Net loss and comprehensive loss
Accrued dividends on Series B Preferred stock
Deemed dividend from trigger of down round provision feature
Deemed dividend on Series B Preferred Units
Net loss attributable to common stockholders
Basic and diluted net loss attributable to common stockholders per common share
Weighted average shares used in computing basic and diluted net loss attributable to common stockholders per common share
Consolidated Statements Of Cash Flows
Cash flows from operating activities:
Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
Stock-based compensation
Expense related to modification of warrants, including exchange of warrants for common stock
Amortization of deferred rent
Fair value of common stock granted for services
Fair value of Series B Preferred stock granted for services
Fair value of warrants granted for services
Loss on extinguishment of accounts payable
Changes in operating assets and liabilities:
Prepaid expenses and other current assets
Accounts payable and accrued expenses, including accrued interest
Net cash used in operating activities
Cash flows from investing activities:
Purchases of equipment
Net cash used in investing activities
Cash flows from financing activities:
Net proceeds from issuance of common stock and warrants, including Units
Net proceeds from issuance of Series B Preferred Units
Repayment of capital lease obligations
Repayment of notes payable
Net cash provided by financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Supplemental disclosure of cash flow activities:
Cash paid for interest
Cash paid for income taxes
Supplemental disclosure of noncash activities:
Insurance premiums settled by issuing note payable
Accrued dividends on Series B Preferred
Accrued dividends on Series B Preferred settled upon conversion by issuance of common stock
Acquisition of equipment under capital lease
Balances at beginning
Balances at beginning (in shares)
Proceeds from sale of common stock and warrants for cash in September 2017 Public Offering, net of underwriting discount and expenses
Proceeds from sale of common stock and warrants for cash in September 2017 Public Offering, net of underwriting discount and expenses (in shares)
Proceeds from sale of common stock and warrants for cash in December 2017 Public Offering, net of underwriting discount and expenses
Proceeds from sale of common stock and warrants for cash in December 2017 Public Offering, net of underwriting discount and expenses (in shares)
Allocated proceeds from sale of common stock Units for cash under 2014 Unit Private Placement, including beneficial conversion feature
Allocated proceeds from sale of common stock Units for cash under 2014 Unit Private Placement, including beneficial conversion feature (in shares)
Proceeds from sale of Series B Preferred Units for cash under Series B Preferred Unit Private Placement
Proceeds from sale of Series B Preferred Units for cash under Series B Preferred Unit Private Placement (in shares)
Share-based compensation expense
Conversion of Senior Secured and subordinate promissory notes into Series B Preferred stock, including recapture of beneficial conversion feature upon conversion
Conversion of Senior Secured and subordinate promissory notes into Series B Preferred stock, including recapture of beneficial conversion feature upon conversion (in shares)
Elimination of warrant liability resulting from modification of PLTG Warrants
Exchange of common stock for Series B Preferred stock
Exchange of common stock for Series B Preferred stock (in shares)
Accrued dividends on Series B Preferred stock
Conversion of Series B Preferred stock into common stock, including common stock issued in payment of accrued dividends
Conversion of Series B Preferred stock into common stock, including common stock issued in payment of accrued dividends (in shares)
Exchange of common stock for Series C Preferred stock
Exchange of common stock for Series C Preferred stock (in shares)
Exchange of outstanding warrants for Series C Preferred stock
Exchange of outstanding warrants for Series C Preferred stock (in shares)
Exchange of outstanding warrants for common stock and other warrant modifications
Exchange of outstanding warrants for common stock and other warrant modifications (in shares)
Fair value of common stock, Series B Preferred stock and warrants granted for services
Fair value of common stock, Series B Preferred stock and warrants granted for services (in shares)
Proceeds from sale of common stock and warrants for cash in May 2016 Public Offering
Proceeds from sale of common stock and warrants for cash in May 2016 Public Offering (in shares)
Proceeds from sale of common stock and warrants for cash in private placement offerings
Proceeds from sale of common stock and warrants for cash in private placement offerings (in shares)
Proceeds from exercise of warrants
Proceeds from exercise of warrants (in shares)
Series B Preferred converted to common stock automatically upon consummation of May 2016 Public Offering and voluntarily
Series B Preferred converted to common stock automatically upon consummation of May 2016 Public Offering and voluntarily (in shares)
Common stock issued for dividends upon conversion of Series B Preferred
Common stock issued for dividends upon conversion of Series B Preferred (in shares)
Fair value of common stock and warrants granted for services
Fair value of common stock and warrants granted for services (in shares)
Fair value of common stock granted in settlement of accounts payable
Fair value of common stock granted in settlement of accounts payable (in shares)
Increase in fair value attributable to warrant modifications
Deemed dividend from trigger of down round provision feature
Balances at end
Balances at end (in shares)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business
Accounting Policies [Abstract]
Basis of Presentation and Going Concern
Summary of Significant Accounting Policies
Fair Value Disclosures [Abstract]
Fair Value Measurements
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets
Property, Plant and Equipment [Abstract]
Property and Equipment
Payables and Accruals [Abstract]
Accrued Expenses
Debt Disclosure [Abstract]
Notes Payable
Stockholders' Equity Note [Abstract]
Capital Stock
Research and Development [Abstract]
Research and Development Expenses
Income Tax Disclosure [Abstract]
Income Taxes
Licensing, Sublicensing and Collaborative Agreements
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Option Plans and 401(k) Plan
Related Party Transactions [Abstract]
Related Party Transactions
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies, Guarantees and Indemnifications
Subsequent Events [Abstract]
Subsequent Events
Quarterly Financial Information Disclosure [Abstract]
Supplemental Financial Information
Use of Estimates
Principles of Consolidation
Cash and Cash Equivalents
Property and Equipment
Impairment of Long-Lived Assets
Revenue Recognition
Research and Development Expenses
Stock-Based Compensation
Income Taxes
Concentrations of Credit Risk
Fair Value Measurements
Warrants Issued in Connection with Equity Financing
Comprehensive Loss
Loss per Common Share Attributable to Common Stockholders
Recent Accounting Pronouncements
Schedule of basic and diluted net loss attributable to common stockholders per share
Schedule of potentially dilutive securities excluded in determining diluted net loss per common share
Schedule of prepaid expenses and other current assets
Schedule of property and equipment
Depreciation and amortization expense
Schedule of accrued expenses
Summary of notes payable
Carrying value of the debt instruments
Schedule of the aggregate allocation unit sales proceeds based on the relative fair values
Schedule of Black Scholes option pricing model
Schedule of warrant exchanges
Additional Warrant Modifications
Schedule of outstanding warrants to purchase shares
Schedule of reserved shares of common stock for future issuance
Schedule of effective income tax rate
Schedule of components of the deferred tax assets
Uncertain tax positions
Schedule of share-based compensation expense
Schedule of Black Scholes option valuation model
Schedule of stock option plans
Schedule of stock options outstanding and exercisable
Schedule of capital lease obligations
Schedule of amortization expense for assets recorded under capital leases
Schedule of future minimum payments under operating leases
Schedule of quarterly financial information
Basis Of Presentation Details Narrative
Numerator:
Net loss attributable to common stockholders for basic and diluted earnings per share
Denominator:
Weighted average basic and diluted common shares outstanding
Legal Entity [Axis]
Type of Arrangement and Non-arrangement Transactions [Axis]
Potentially dilutive securities excluded in determining diluted net loss per common share
Estimated useful lives
AV-101 materials and services
Insurance
Public offering expenses
All other
Property and equipment, gross
Accumulated depreciation and amortization
Depreciation and amortization expense, property and equipment
Accrued AV-101 development expenses
Accrued professional services
All other
Accrued expenses
Principal Balance :
Note payable
Less: current
Note payable non-current
Accrued Interest :
Note payable
Less: current
Note payable non-current
Total
Note payable
Less: current
Note payable non-current
McCarthy Tetrault note and accounts payable
Burr Pilger & Mayer note and accounts payable
Icahn School of Medicine at Mount Sinai note and accounts payable
Morrison & Foerster Note A
Desjardins Securities note
MicroConstants note and accounts payable
Other service provider accounts payable
Morrison & Foerster Note B and accounts payable
Senior Secured Convertible Notes
Cato Holding Company and Cato Research Ltd. notes and accounts payable
University Health Network note
Investor Unit Notes
PLTG Unit Notes
Acquired Unit Notes
National Jewish Health note
Carrying Amount (Principal plus Accrued Interest less Discount)
Consideration Given:
Fair Value of Series B Preferred at Issuance
Fair Value of Warrants at Issuance
Incremental Fair Value of Warrant Modifications
Repurchase of Beneficial Conversion Feature
Loss on Extinguishment of Debt
Series B Preferred Shares Issued
New Warrants Issued
Warrant Shares Issued
Market Price (in dollars per share)
Exercise price
Term (Years)
Risk free Interest Rate
Volatility
Dividend Rate
Per Share Fair Value of Warrant
Aggregate Fair Value of Unit Warrants
Aggregate Proceeds of Unit Sales
Aggregate Allocation of Proceeds Based on Relative Fair Value of: Unit Stock
Aggregate Allocation of Proceeds Based on Relative Fair Value of: Unit Warrant
Assumption:
Exercise price per share
Risk-free interest rate
Dividend rate
Warrant Shares Granted
Expense recognized
December2016WarrantMember
November 2015 warrants
January 2016 warrants
June 2015 warrants
PLTG Outstanding Warrants
PLTG Series A Exchange Warrant
Other outstanding warrants
Weighted average fair value per share
Warrant shares cancelled and exchanged
Common (Series C Preferred for PLTG Warrants) shares issued in exchange
Fair Value
Incremental fair value recognized as warrant modification expense
Number of warrant shares
Exercise Price per Share
Expiration Date
Warrants outstanding
Warrants exercisable
Reserved for future issuance
Available for future grants
Computed expected tax benefit
Tax effect of loss on debt extinguishment
Tax effect of warrant modifications and other non-deductible items
Tax effect of research and development credits
Effect of U.S. tax law change (federal and state)
Tax effect of Warrant Liability mark to market
Other losses not benefitted
Other
Income tax expense
Deferred tax assets:
Net operating loss carryovers
Basis differences in fixed assets
Stock based compensation
Accruals and reserves
Total deferred tax assets
Valuation allowance
Net deferred tax assets
Unrecognized tax benefit
Unrecognized benefit - beginning of period
Current period tax position increases
Prior period tax position increases
Unrecognized benefit - end of period
Valuation allowance increase
U.S. federal net operating loss carryforwards
State net operating loss carryforwards
Related Party [Axis]
Incurred expenses
Total stock-based compensation expense
Exercise price
Market price on date of grant
Risk-free interest rate
Expected term (years)
Volatility
Expected dividend yield
Fair value per share at grant date
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at beginning
Options granted
Options exercised
Options forfeited
Options expired
Options outstanding at end
Options exercisable at end
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Options outstanding at beginning
Options granted
Options exercised
Options forfeited
Options expired
Options outstanding at end
Options exercisable at end
Weighted average grant-date fair value of options granted
Number Outstanding
Weighted Average Remaining Years until Expiration
Weighted Average Exercise Price
Number Exercisable
Exercisable Weighted Average Exercise Price
Number of share available for grant under 2016 Plan
Aggregate intrinsic value outstanding
Unrecognized compensation cost
Office equipment
Accumulated depreciation
Net book value
Fiscal Years Ending March 31,
2019
2020
2021
2022
Future minimum lease payments
Less imputed interest included in minimum lease payments
Present value of minimum lease payments
Less current portion
Non-current capital lease obligation
Fiscal Years Ending March 31,
2019
2020
2021
2022
2023
Total
Facility rent expense
Total revenues
Total operating expenses
Loss from operations
Interest expense, net
Change in warrant liabilities
Loss on extinguishment of debt
Other income (expense)
Loss before income taxes
Income taxes
Net loss and comprehensive loss
Accrued dividends on Series B Preferred stock
Deemed dividend on Series B Preferred Units
Net loss attributable to common stockholders
Carrying value as of the balance sheet date of obligations incurred through that date and payable for development expenses.
Refers to amount of accrued dividend on preferred stock during the period.
Refers to amount of non current portion of accrued dividend as on balance sheet date.
Refers to accrued dividend on series B preferred stock.
Refers the value of shares issued under the 2014 unit private placement.
Refers the number of shares issued under the 2014 unit private placement.
Refers to amount in increase decrease of warrant liability during the period.
Refers the value of shares issued for conversion of senior secured and subordinate promissory note into series B preferred stock.
Refers the number of shares issued for conversion of senior secured and subordinate promissory note into series B preferred stock.
Refers the value of shares issued for conversion of series B preferred stock into common stock including common stock issued in payment of accrued dividend.
Refers the number of shares issued for conversion of series B preferred stock into common stock including common stock issued in payment of accrued dividend.
Refers to amount of deemed dividend on preferred stock during the period.
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from basis differences in fixed assets.
Refers to effective income tax rate reconciliation for other.
Refers to effective income tax rate reconciliation for warrant modifications.
Refers to effective income tax rate reconciliation of warrant liability under mark to market.
Refers to adjustment for aditional paid in capital for elimination of warrant liability resulting from modification of platinum warrants.
Refers the value of shares issued for exchange of common stock for series B preferred stock.
Refers the number of shares issued for exchange of common stock for series B preferred stock.
Refers the value of shares issued for exchange of common stock for series C preferred stock.
Refers the number of shares issued for exchange of common stock for series C preferred stock.
Refers the value of shares issued for exchange of outstanding warrants for series C preferred stock.
Refers the number of shares issued for exchange of outstanding warrants for series C preferred stock.
Refers the value of shares issued for exchange of outstanding warrants for common stock and other warrant modification.
Refers the number of shares issued for exchange of outstanding warrants for common stock and other warrant modification.
Refer to amount of expense related to modification of warrant exchange during the period.
Fair value price of a single share of a number of saleable stocks of a company.
Refers the value of shares issued for fair value of common stock for series B preferred stock grated for services.
Refers the number of shares issued for fair value of common stock for series B preferred stock grated for services.
Refers to amount of fair value of common stock granted for services.
Refers to amount of fair value of preferred stock granted for services.
Refers to amount of non cash expense insurance premium settled issuing notes payable during the period.
Refers to effective income tax rate reconciliation for warrant modifications.
Disclosure regarding of prepaid and other assets.
Refers the value of shares issued for series B preferred stock under the 2015 unit private placement.
Refers the number of shares issued for series B preferred stock under the 2015 unit private placement.
Amount of asset related to consideration paid in advance for public offering expenses as on balance sheet date.
Represents the amount as post reported after the correction of an error or other adjustment.
Carrying value of security deposits and other assets as on balance sheet date.
Price of a single share of a number of saleable stocks of a company.
Refers to effective income tax rate reconciliation of warrant liability under mark to market.
Information about property i.e. tenant improvements.
Security that gives the holder the right to purchase shares of stock in accordance with the terms of the instrument, usually upon payment of a specified amount.
Security that gives the holder the right to purchase shares of stock in accordance with the terms of the instrument, usually upon payment of a specified amount.
Disclosure policy regarding of warrant liability.
Security that gives the holder the right to purchase shares of stock in accordance with the terms of the instrument, usually upon payment of a specified amount.
Security that gives the holder the right to purchase shares of stock in accordance with the terms of the instrument, usually upon payment of a specified amount.
Security that gives the holder the right to purchase shares of stock in accordance with the terms of the instrument, usually upon payment of a specified amount.
Security that gives the holder the right to purchase shares of stock in accordance with the terms of the instrument, usually upon payment of a specified amount.
Assets, Current
Assets
Liabilities, Current
Liabilities, Noncurrent
Liabilities
Treasury Stock, Value
Stockholders' Equity Attributable to Parent
Liabilities and Equity
Change in warrant liability
Increase (Decrease) in Prepaid Expense and Other Assets
Net Cash Provided by (Used in) Operating Activities, Continuing Operations
Payments to Acquire Property, Plant, and Equipment
Net Cash Provided by (Used in) Investing Activities
Repayments of Long-term Capital Lease Obligations
Repayments of Notes Payable
Net Cash Provided by (Used in) Financing Activities, Continuing Operations
Cash and Cash Equivalents, Period Increase (Decrease)
Shares, Outstanding
Accrued dividends on Series B Preferred stock [Default Label]
DeemedDividendFromTriggerOfDownRoundProvisionFeature1
Property, Plant and Equipment, Policy [Policy Text Block]
Research, Development, and Computer Software, Policy [Policy Text Block]
Income Tax, Policy [Policy Text Block]
Fair Value Measurement, Policy [Policy Text Block]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment
Other Accrued Liabilities, Current
AccruedInterestNotesPayable
AccruedInterestNotesPayableCurrent
AccruedInterestLongTermNotesPayable
Notes Payable [Default Label]
Notes Payable, Noncurrent
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent
Deferred Tax Assets, Gross
Deferred Tax Assets, Valuation Allowance
Deferred Tax Assets, Net of Valuation Allowance
Unrecognized Tax Benefits
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation
Capital Leases, Balance Sheet, Assets by Major Class, Net
Capital Leases, Future Minimum Payments, Interest Included in Payments
Operating Leases, Future Minimum Payments Due, Next Twelve Months
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year
Operating Leases, Future Minimum Payments, Due in Two Years
Operating Leases, Future Minimum Payments, Due in Three Years
Operating Leases, Future Minimum Payments Due