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Stockholders' Equity - Summary of Assumptions Used to Determine the Fair Value (Details) - Common Stock Warrant [Member]	Jun. 30, 2026 USD ($) yr
Dividend Yield [Member]
Class of Warrant or Right [Line Items]
Assumptions used to determine the fair value	0
Volatility [Member]
Class of Warrant or Right [Line Items]
Assumptions used to determine the fair value	1.10
Risk-free Interest Rate [Member]
Class of Warrant or Right [Line Items]
Assumptions used to determine the fair value	0.041
Expected Life of Warrants [Member]
Class of Warrant or Right [Line Items]
Assumptions used to determine the fair value \| yr	4.75
Weighted Average Grant Date Fair Value [Member]
Class of Warrant or Right [Line Items]
Assumptions used to determine the fair value \| $	1.71

Summary of Significant Accounting Policies	3 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not necessarily include all information and notes required by GAAP for complete financial statements. The condensed consolidated balance sheet at March 31, 2026 is derived from the Company’s audited consolidated balance sheet as filed with the Securities and Exchange Commission ("SEC") on July 14, 2026. The unaudited condensed consolidated financial statements include the accounts of VivoSim and its wholly owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the unaudited financial information for the interim periods presented reflects all adjustments, which are only normal and recurring, necessary for a fair statement of the Company’s financial position, results of operations, stockholders’ equity and cash flows. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2026, as filed with the SEC. Operating results for any interim period are not necessarily indicative of the operating results for any other interim period or the Company’s full fiscal year ending March 31, 2027 (see “Note 1. Description of Business”). Liquidity and Going Concern The accompanying condensed consolidated financial statements have been prepared on the basis that the Company is a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. As of June 30, 2026, the Company had cash and cash equivalents of approximately $1.7 million, restricted cash of approximately $0.1 million and an accumulated deficit of approximately $357.3 million. The restricted cash was pledged as collateral for a letter of credit that the Company is required to maintain as a security deposit under the terms of the lease agreements for its facilities. The Company also had negative cash flows from operations of approximately $3.2 million during the three months ended June 30, 2026. As of June 30, 2026, the Company had total current assets of approximately $3.2 million and current liabilities of approximately $1.9 million, resulting in working capital of $1.3 million. The Company also had significant cash inflows received after June 30, 2026, which include the milestone payment and escrow release discussed in "Note 1. Description of Business", as well as a private placement transaction, discussed in "Note 11. Subsequent Events". Through June 30, 2026, the Company has financed its operations primarily through the sale of common stock through public and at-the-market (“ATM”) offerings, the public and private placement of equity securities, from revenue derived from the licensing of intellectual property, products and research-based services, grants, and collaborative research agreements, and from the sale of convertible notes. Based on the Company's current operating plan and available cash resources, the Company will need substantial additional funding to support future operating activities. The Company has concluded that the prevailing conditions and ongoing liquidity risks faced by the Company raise substantial doubt about its ability to continue as a going concern for at least one year following the date these condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. As the Company continues its operations and is focusing its efforts on services, research, and development, the Company will need to raise additional capital to implement this business plan. The Company cannot predict with certainty the exact amount or timing for any future capital raises. The Company will seek to raise additional capital through debt or equity financings, or through some other financing arrangement. However, the Company cannot be sure that additional financing will be available if and when needed, or that, if available, it can obtain financing on terms favorable to its stockholders. Any failure to obtain financing when required will have a material adverse effect on the Company’s business, operating results, and financial condition. Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. On an ongoing basis, management reviews these estimates and assumptions. Fair value measurement Financial assets and liabilities are measured at fair value, which is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The following is a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Insurance Premium Financing Liability In September 2025, the Company entered into an insurance premium financing agreement for $0.4 million, with a term of nine months and an annual interest rate of 7.82%. The Company made a down payment of 10% and is required to make monthly principal and interest payments of $40,468 over the term of the agreement, which will mature in June 2026. The insurance premium financing liability was approximately zero and $0.1 million as of June 30, 2026, and March 31, 2026, respectively. Related prepaid insurance at June 30, 2026, and March 31, 2026 of $0.1 million and $0.2 million, respectively, is included in prepaid expenses and other current assets on the accompanying condensed consolidated balance sheets. Net Loss Per Share Basic and diluted net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares used to compute diluted loss per share includes the assumed exercise of any outstanding pre-funded warrants, and excludes any assumed exercise of stock options, shares reserved for purchase under the Company’s 2023 Employee Stock Purchase Plan ("ESPP"), the assumed vesting of restricted stock units ("RSUs"), the exercise of common warrants, and shares subject to repurchase as the effect would be anti-dilutive. No dilutive effect was calculated for the three months ended June 30, 2026 and 2025 as the Company reported a net loss for each respective period and the effect would have been anti-dilutive. Common stock equivalents excluded from computing diluted net loss per share due to their anti-dilutive effect were approximately 5.0 million shares and 0.7 million shares at June 30, 2026 and 2025, respectively. The common stock equivalents excluded include unexercised stock options and common warrants. Revenue recognition Royalty revenue The Company has entered into an intellectual property license agreement with another company that includes royalties based on specified percentages of net product sales, if any. At the initiation of the agreement, the Company analyzed whether it results in a contract with a customer under Accounting Standards Codification ("ASC") Topic 606. The Company considered a variety of factors in determining the appropriate estimates and assumptions under these arrangements, such as whether the Company is a principal vs. agent, whether the elements are distinct performance obligations, whether there are determinable stand-alone prices, and whether any licenses are functional or symbolic. The Company evaluates each performance obligation to determine if it can be satisfied and recognized as revenue at a point in time or over time. Typically, sales-based royalty payments have been identified as variable consideration which must be evaluated to determine if it has been constrained and, therefore, excluded from the transaction price. Please refer to “Note 5. Collaborative Research, Development, and License Agreements” for further information. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies. Unless otherwise stated, the Company believes that the impact of the recently issued accounting pronouncements that are not yet effective will not have a material impact on its consolidated financial position or results of operations upon adoption. Recently Adopted Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The update requires a public business entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. Adoption of the ASU allows for either the prospective or retrospective application of the amendment and is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The new disclosure requirements are included in the Company's Form 10-K for fiscal year ending March 31, 2026, and were applied on a retrospective basis. Recently Issued Accounting Pronouncements On July 4, 2025, the U.S. government enacted comprehensive legislation commonly referred to as the One Big Beautiful Bill Act, or the 2025 Act. The 2025 Act makes changes to U.S. corporate income taxes including reinstating the option to claim 100% accelerated depreciation deductions on qualified property, with prospective application beginning January 20, 2025 and immediate expensing of domestic research and development costs, with prospective application beginning January 1, 2025. The impact of this legislation was not material to the Company's consolidated financial position and results of operations for the quarter ended June 30, 2026. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to improve the disclosures of expenses by providing more detailed information about the types of expenses in commonly presented expense captions. The standard is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The standard can be applied either prospectively or retrospectively. The Company has not yet completed its assessment of the impact of ASU 2024-03 on the Company’s Consolidated Financial Statements.

Summary of Significant Accounting Policies

3 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not necessarily include all information and notes required by GAAP for complete financial statements. The condensed consolidated balance sheet at March 31, 2026 is derived from the Company’s audited consolidated balance sheet as filed with the Securities and Exchange Commission ("SEC") on July 14, 2026.

The unaudited condensed consolidated financial statements include the accounts of VivoSim and its wholly owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the unaudited financial information for the interim periods presented reflects all adjustments, which are only normal and recurring, necessary for a fair statement of the Company’s financial position, results of operations, stockholders’ equity and cash flows. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2026, as filed with the SEC. Operating results for any interim period are not necessarily indicative of the operating results for any other interim period or the Company’s full fiscal year ending March 31, 2027 (see “Note 1. Description of Business”).

Liquidity and Going Concern

The accompanying condensed consolidated financial statements have been prepared on the basis that the Company is a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. As of June 30, 2026, the Company had cash and cash equivalents of approximately $1.7 million, restricted cash of approximately $0.1 million and an accumulated deficit of approximately $357.3 million. The restricted cash was pledged as collateral for a letter of credit that the Company is required to maintain as a security deposit under the terms of the lease agreements for its facilities. The Company also had negative cash flows from operations of approximately $3.2 million during the three months ended June 30, 2026. As of June 30, 2026, the Company had total current assets of approximately $3.2 million and current liabilities of approximately $1.9 million, resulting in working capital of $1.3 million. The Company also had significant cash inflows received after June 30, 2026, which include the milestone payment and escrow release discussed in "Note 1. Description of Business", as well as a private placement transaction, discussed in "Note 11. Subsequent Events".

Through June 30, 2026, the Company has financed its operations primarily through the sale of common stock through public and at-the-market (“ATM”) offerings, the public and private placement of equity securities, from revenue derived from the licensing of intellectual property, products and research-based services, grants, and collaborative research agreements, and from the sale of convertible notes.

Based on the Company's current operating plan and available cash resources, the Company will need substantial additional funding to support future operating activities. The Company has concluded that the prevailing conditions and ongoing liquidity risks faced by the Company raise substantial doubt about its ability to continue as a going concern for at least one year following the date these condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. As the Company continues its operations and is focusing its efforts on services, research, and development, the Company will need to raise additional capital to implement this business plan. The Company cannot predict with certainty the exact amount or timing for any future capital raises. The Company will seek to raise additional capital through debt or equity financings, or through some other financing arrangement. However, the Company cannot be sure that additional financing will be available if and when needed, or that, if available, it can obtain financing on terms favorable to its stockholders. Any failure to obtain financing when required will have a material adverse effect on the Company’s business, operating results, and financial condition.

Use of Estimates

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. On an ongoing basis, management reviews these estimates and assumptions.

Fair value measurement

Financial assets and liabilities are measured at fair value, which is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The following is a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:

•

Level 1 — Quoted prices in active markets for identical assets or liabilities.

•

Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•

Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Insurance Premium Financing Liability

In September 2025, the Company entered into an insurance premium financing agreement for $0.4 million, with a term of nine months and an annual interest rate of 7.82%. The Company made a down payment of 10% and is required to make monthly principal and interest payments of $40,468 over the term of the agreement, which will mature in June 2026. The insurance premium financing liability was approximately zero and $0.1 million as of June 30, 2026, and March 31, 2026, respectively. Related prepaid insurance at June 30, 2026, and March 31, 2026 of $0.1 million and $0.2 million, respectively, is included in prepaid expenses and other current assets on the accompanying condensed consolidated balance sheets.

Net Loss Per Share

Basic and diluted net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares used to compute diluted loss per share includes the assumed exercise of any outstanding pre-funded warrants, and excludes any assumed exercise of stock options, shares reserved for purchase under the Company’s 2023 Employee Stock Purchase Plan ("ESPP"), the assumed vesting of restricted stock units ("RSUs"), the exercise of common warrants, and shares subject to repurchase as the effect would be anti-dilutive. No dilutive effect was calculated for the three months ended June 30, 2026 and 2025 as the Company reported a net loss for each respective period and the effect would have been anti-dilutive.

Common stock equivalents excluded from computing diluted net loss per share due to their anti-dilutive effect were approximately 5.0 million shares and 0.7 million shares at June 30, 2026 and 2025, respectively. The common stock equivalents excluded include unexercised stock options and common warrants.

Revenue recognition

Royalty revenue

The Company has entered into an intellectual property license agreement with another company that includes royalties based on specified percentages of net product sales, if any. At the initiation of the agreement, the Company analyzed whether it results in a contract with a customer under Accounting Standards Codification ("ASC") Topic 606.

The Company considered a variety of factors in determining the appropriate estimates and assumptions under these arrangements, such as whether the Company is a principal vs. agent, whether the elements are distinct performance obligations, whether there are determinable stand-alone prices, and whether any licenses are functional or symbolic. The Company evaluates each performance obligation to determine if it can be satisfied and recognized as revenue at a point in time or over time. Typically, sales-based royalty payments have been identified as variable consideration which must be evaluated to determine if it has been constrained and, therefore, excluded from the transaction price. Please refer to “Note 5. Collaborative Research, Development, and License Agreements” for further information.

Recent Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies. Unless otherwise stated, the Company believes that the impact of the recently issued accounting pronouncements that are not yet effective will not have a material impact on its consolidated financial position or results of operations upon adoption.

Recently Adopted Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The update requires a public business entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. Adoption of the ASU allows for either the prospective or retrospective application of the amendment and is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The new disclosure requirements are included in the Company's Form 10-K for fiscal year ending March 31, 2026, and were applied on a retrospective basis.

Recently Issued Accounting Pronouncements

On July 4, 2025, the U.S. government enacted comprehensive legislation commonly referred to as the One Big Beautiful Bill Act, or the 2025 Act. The 2025 Act makes changes to U.S. corporate income taxes including reinstating the option to claim 100% accelerated depreciation deductions on qualified property, with prospective application beginning January 20, 2025 and immediate expensing of domestic research and development costs, with prospective application beginning January 1, 2025. The impact of this legislation was not material to the Company's consolidated financial position and results of operations for the quarter ended June 30, 2026.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to improve the disclosures of expenses by providing more detailed information about the types of expenses in commonly presented expense captions. The standard is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The standard can be applied either prospectively or retrospectively. The Company has not yet completed its assessment of the impact of ASU 2024-03 on the Company’s Consolidated Financial Statements.

Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026
Payables and Accruals [Abstract]
Accrued payroll and other employee benefits	$ 246	$ 422
Accrued legal and professional fees	483	523
Other accrued expenses	9	36
Accrued expenses	$ 738	$ 981

Leases

3 Months Ended

Jun. 30, 2026

Leases [Abstract]

Leases

Note 7. Leases

After the initial adoption of ASC Topic 842 (“ASC 842”), on an on-going basis, the Company evaluates all contracts upon inception and determines whether the contract contains a lease by assessing whether there is an identified asset and whether the contract conveys the right to control the use of the identified asset in exchange for consideration over a period of time. If a lease is identified, the Company will apply the guidance from ASC 842 to properly account for the lease.

Operating Leases

On November 23, 2020, the Company entered into a lease agreement, pursuant to which the Company permanently leased approximately 8,051 square feet of lab and office space (the “Permanent Lease”) in San Diego once certain tenant improvements were completed by the landlord and the premises were ready for occupancy. Additionally, on November 17, 2021, the Permanent Lease was amended to add an additional 2,892 square feet of office space in the same building. The Permanent Lease commenced on December 17, 2021 and is intended to serve as the Company’s permanent premises for approximately sixty-two months. Monthly rental payments will be approximately $40,800 with 3% annual escalators.

The Company determined that the Permanent Lease is considered an operating lease under ASC 842, and therefore upon the lease commencement date of December 17, 2021, recognized lease liabilities and corresponding right-of-use assets of $2.3 million. The Company records operating lease expense on a straight-line basis over the life of the lease (referred to as “operating lease expense”). Variable lease expenses associated with the Company’s leases, such as payments for additional monthly fees to cover the Company’s share of certain facility expenses (common area maintenance) are expensed as incurred.

The table below summarizes the Company’s lease liabilities and corresponding right-of-use assets as of June 30, 2026, (in thousands except the year and percentage):


	June 30, 2026
ASSETS
Operating lease right-of-use assets	$	287
Total lease right-of-use assets	$	287

LIABILITIES
Current
Operating lease liability	$	316
Total lease liabilities	$	316

Weighted average remaining lease term (years):	0.58
Weighted average discount rate:		6	%

Variable lease expense was approximately $36,000 for the three months ended June 30, 2026, and approximately $39,000 for the three months ended June 30, 2025. Operating lease expense was approximately $126,000 for the three months ended June 30, 2026 and 2025, respectively.

Cash outflows associated with the Company’s operating lease for the three months ended June 30, 2026 and 2025 were approximately $138,000, and $134,000, respectively.

Future lease payments relating to the Company’s operating lease liabilities as of June 30, 2026 are as follows (in thousands):


Fiscal year ending March 31, 2027		322
Total future lease payments		322
Less: Imputed interest		(6	)
Total lease obligations		316
Less: Current obligations		(316	)
Noncurrent lease obligations	$	—

Subsequent Events	3 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]
Subsequent Events	Note 11. Subsequent Events In July 2026, the Company received a milestone payment of $5.0 million in connection with the FXR Asset Sale upon the achievement of a certain development milestone. Additionally, in July 2026, the $1.0 million held in escrow as part of the FXR Asset Sale was released to the Company. On July 17, 2026, the Company entered into a Securities Purchase Agreement, dated July 16, 2026, with an accredited institutional investor (the “Purchaser”), pursuant to which, among other things, the Company issued and sold to the Purchaser, in a private placement transaction that closed on July 17, 2026, (i) pre-funded warrants to purchase up to an aggregate of 4,705,883 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), and (ii) accompanying warrants to purchase up to an aggregate of 4,705,883 shares of Common Stock, at the combined purchase price of $0.85 per share of Common Stock subject to the pre-funded warrants and accompanying common warrants, for gross proceeds to the Company of approximately $4.0 million, before deducting placement agent fees and other offering expenses. Between July 1, 2026 and August 11, 2026, all of the 3,947,369 2026 Common Warrants were exercised. The 2026 Common Warrants were the instrument underlying the common stock warrant liability of $4.3 million presented on the condensed consolidated balance sheet as of June 30, 2026. As of August 11, 2026, the entirety of the common stock warrant liability was relieved.

Subsequent Events

3 Months Ended

Jun. 30, 2026

Subsequent Events [Abstract]

Subsequent Events

Note 11. Subsequent Events

In July 2026, the Company received a milestone payment of $5.0 million in connection with the FXR Asset Sale upon the achievement of a certain development milestone. Additionally, in July 2026, the $1.0 million held in escrow as part of the FXR Asset Sale was released to the Company.

On July 17, 2026, the Company entered into a Securities Purchase Agreement, dated July 16, 2026, with an accredited institutional investor (the “Purchaser”), pursuant to which, among other things, the Company issued and sold to the Purchaser, in a private placement transaction that closed on July 17, 2026, (i) pre-funded warrants to purchase up to an aggregate of 4,705,883 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), and (ii) accompanying warrants to purchase up to an aggregate of 4,705,883 shares of Common Stock, at the combined purchase price of $0.85 per share of Common Stock subject to the pre-funded warrants and accompanying common warrants, for gross proceeds to the Company of approximately $4.0 million, before deducting placement agent fees and other offering expenses.

Between July 1, 2026 and August 11, 2026, all of the 3,947,369 2026 Common Warrants were exercised. The 2026 Common Warrants were the instrument underlying the common stock warrant liability of $4.3 million presented on the condensed consolidated balance sheet as of June 30, 2026. As of August 11, 2026, the entirety of the common stock warrant liability was relieved.

Accrued Expenses

3 Months Ended

Jun. 30, 2026

Payables and Accruals [Abstract]

Accrued Expenses

Note 3. Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	June 30, 2026		March 31, 2026
Accrued payroll and other employee benefits	$	246	$	422
Accrued legal and professional fees		483		523
Other accrued expenses		9		36
	$	738	$	981

Please refer to “Note 6. Commitments and Contingencies” for further information regarding the accrued loss contingencies presented in the table above.

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended		3 Months Ended
	Jul. 31, 2026	Jul. 17, 2026	Aug. 11, 2026	Jul. 31, 2026	Jun. 30, 2026	Mar. 31, 2026	Aug. 05, 2024
Subsequent Event [Line Items]
Escrow deposit	$ 1.0			$ 1.0
Common stock, par value					$ 0.001	$ 0.001
Common stock warrant liability					$ 4.3
Pre-Funded Warrants [Member]
Subsequent Event [Line Items]
Issuance of common stock		4,705,883
Common stock, par value		$ 0.001
Proceeds from issuance of warrants		$ 4.0
Common Warrants [Member]
Subsequent Event [Line Items]
Issuance of warrants		4,705,883			429,836		130,202
Excercise price per share		$ 0.85			$ 1.14		$ 9.6
At-The-Market Facility [Member]
Subsequent Event [Line Items]
Issuance of common stock					0
Subsequent Event [Member] \| Common Warrants [Member]
Subsequent Event [Line Items]
Warrants exercised			39,473,692,026
Subsequent Event [Member] \| Metacrine's FXR Program [Member]
Subsequent Event [Line Items]
Milestone payment received	$ 5.0			$ 5.0

Stockholders' Equity - Common Stock Reserved for Future Issuance (Details) - shares	Jun. 30, 2026	Oct. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	7,015,157
Pre-Funded Warrants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	2,045,022
2024 Common Warrants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	539,060
2026 Common Warrants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	3,947,369
Placement Agent Warrants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	131,579
Equity Incentive Plan 2022 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	3,422
2023 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance		3,750
Employee Stock Option Member \| Equity Incentive Plan 2012 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	27,565
Employee Stock Option Member \| Equity Incentive Plan 2022 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	238,183
Employee Stock Option Member \| 2023 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	3,708
Employee Stock Option Member \| 2021 Inducement Equity Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	83
Employee Stock Option Member \| Incentive Award Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	4,166
Restricted stock units (RSUs) [Member] \| Equity Incentive Plan 2022 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	75,000

Unaudited Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Deficit [Member]
Beginning balance at Mar. 31, 2025	$ 10,492	$ 2	$ 352,648	$ (1)	$ (342,157)
Beginning balance, Shares at Mar. 31, 2025		1,898,000		0
Retirement of treasury stock	0		(1)	$ 1	0
Retirement of treasury stock, shares				0
Issuance of common stock from public offering, net	1,811	$ 1	1,810	$ 0	0
Issuance of common stock from public offering, Shares		702,000		0
Stock-based compensation expense	78	$ 0	78	$ 0	0
Stock-based compensation expense, Shares		0		0
Net loss	(2,843)	$ 0	0	$ 0	(2,843)
Ending balance at Jun. 30, 2025	9,538	$ 3	354,535	$ (0)	(345,000)
Ending balance, Shares at Jun. 30, 2025		2,600,000		0
Beginning balance at Mar. 31, 2026	(1,099)	$ 3	354,898	$ (0)	(356,000)
Beginning balance, Shares at Mar. 31, 2026		2,895,000		0
Issuance of common stock under pre-funded warrants exercise	0	$ 0	0	$ 0	0
Issuance of common stock under pre-funded warrants exercise, Shares		299,000		0
Stock-based compensation expense	91	$ 0	91	$ 0	0
Stock-based compensation expense, Shares		0		0
Net loss	(1,338)	$ 0	0	$ 0	(1,338)
Ending balance at Jun. 30, 2026	$ (2,346)	$ 3	$ 354,989	$ (0)	$ (357,338)
Ending balance, Shares at Jun. 30, 2026		3,194,000		0

Business Segment Information (Tables)

3 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Summary of Disaggregated Expense

In addition to the significant expense categories included within Consolidated Net Loss presented in the Company’s Condensed Consolidated Statements of Operations and Other Comprehensive Loss, see below for disaggregated expense amounts for the three months ended June 30, 2026 and 2025 (in thousands):


	Three Months Ended			Three Months Ended
	June 30, 2026			June 30, 2025
Revenue
Royalty revenue	$	18		$	37
Total revenue		18			37
Operating expenses
Research and development expenses (a)(b)		1,082			932
Selling, general, and administrative expenses (a)(b)		1,564			1,881
Non-cash stock-based compensation (see Note 4)		91			78
Depreciation and amortization		40			61
Total operating expense	$	2,777		$	2,952
Consolidated operating loss	$	(2,759	)	$	(2,915	)

(a) Stock-based compensation expense of $14,000 and $13,000 related to research and development and $77,000 and $65,000, related to selling, general, and administration have been excluded for the three months ended June 30, 2026 and 2025, respectively.

(b) Depreciation and amortization expense of $36,000 and $56,000 related to research and development as well as $4,000 and $5,000 related to selling, general, and administration have been excluded for the three months ended June 30, 2026 and 2025, respectively.

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details

Related Parties

3 Months Ended

Jun. 30, 2026

Related Parties

Note 9. Related Parties

From time to time, the Company will enter into an agreement with a related party in the ordinary course of its business. These agreements are ratified by the Board or a committee thereof pursuant to its related party transaction policy.

Viscient Biosciences

Viscient Biosciences (“Viscient”) is an entity for which Keith Murphy, the Company’s Executive Chairman, serves as the Chief Executive Officer and President. Certain board members of the company are investors of Viscient through convertible promissory notes, but do not serve as employees, officers or directors of Viscient.

On December 28, 2020, the Company entered into an intercompany agreement (the “Intercompany Agreement”) with Viscient and Organovo, Inc., the Company’s wholly-owned subsidiary, which included an asset purchase agreement for certain lab equipment. Pursuant to the Intercompany Agreement, the Company agreed to provide Viscient certain services related to 3D bioprinting technology, which includes, but is not limited to, histology services, cell isolation, and proliferation of cells and Viscient agreed to provide the Company certain services related to 3D bioprinting technology, including bioprinter training, bioprinting services, and qPCR assays, in each case on payment terms specified in the Intercompany Agreement and as may be further determined by the parties. In addition, the Company and Viscient each agreed to share certain facilities and equipment and, subject to further agreement, to each make certain employees available for specified projects for the other party at prices to be determined in good faith by the parties. During fiscal 2026 and fiscal 2027, the companies added Statements of Work to the Intercompany Agreement, where Viscient agreed to provide the Company with certain consulting and testing services related to the Company's ongoing R&D. The Company evaluated the accounting for the Intercompany Agreement and concluded that any services provided by Viscient to the Company will be expensed as incurred, and any compensation for services provided by the Company to Viscient will be considered a reduction of personnel related expenses. Any services provided to Viscient do not fall under Topic 606 as the Intercompany Agreement is not a contract with a customer. For the three months ended June 30, 2026 and 2025, the Company incurred $198,000 and $72,000 in R&D consulting expenses from Viscient, respectively. As of June 30, 2026, the accounts payable balance to Viscient was approximately $44,000. Additionally, for the three months ended June 30, 2026 and 2025, the Company provided no histology services to Viscient.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(7)(e)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
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-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Description of Business - Additional Information (Details) - USD ($) $ in Millions			1 Months Ended	3 Months Ended
	Jul. 31, 2026	Mar. 25, 2025	Jul. 31, 2026	Jun. 30, 2026	Mar. 31, 2025
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Escrow receivable	$ 1.0		$ 1.0
Period of escrow		15 months
Metacrine's FXR Program [Member] \| Subsequent Event [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Milestone Payment Received	5.0		$ 5.0
Escrow amount released	$ 1.0
Minimum [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Percentage of Drug Candidate				10.00%
Metacrine, Inc. [Member] \| Metacrine's FXR Program [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Upfront payment paid		$ 10.0
Closing upfront payment		9.0
Escrow receivable					$ 1.0
Future milestone		$ 50.0

Accrued Expenses (Tables)

3 Months Ended

Jun. 30, 2026

Payables and Accruals [Abstract]

Summary of Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	June 30, 2026		March 31, 2026
Accrued payroll and other employee benefits	$	246	$	422
Accrued legal and professional fees		483		523
Other accrued expenses		9		36
	$	738	$	981

Stockholders' Equity - Stock Options and Employee Stock Purchase Plan - Additional Information (Details) - USD ($)		3 Months Ended
	Aug. 05, 2024	Jun. 30, 2026	Oct. 31, 2023
Class Of Stock [Line Items]
Weighted-average remaining contractual term of stock options exercisable		6 years 4 months 24 days
Weighted-average remaining contractual term of stock options outstanding		6 years 4 months 24 days
Number of common stock shares approved under ESPP		7,015,157
Vesting Criteria Based on Market Conditions [Member]
Class Of Stock [Line Items]
Aggregate price	$ 62,000
Vesting Criteria Based on Performance Conditions [Member]
Class Of Stock [Line Items]
Aggregate price	$ 118,000
Executive Chairman [Member] \| Vesting Criteria Based on Performance Conditions [Member]
Class Of Stock [Line Items]
Stock options granted	23,954
2023 Employee Stock Purchase Plan [Member]
Class Of Stock [Line Items]
Number of common stock shares approved under ESPP			3,750
Employee subscription rate		15.00%
Compensation amount per employee		$ 25,000
Number of shares per employee		42
Fair market value at discount		85.00%
Purchase period		6 months
Initial offering period		2024-03
Description of plan		Shares under the ESPP are purchased at 85 percent of the fair market value at the lower of (i) the closing price on the first trading day of the six-month purchase period or (ii) the closing price on the last trading day of the six-month purchase period.
Shares remaining available for the purchase under the ESPP		3,708
2023 Employee Stock Purchase Plan [Member] \| Stock options [Member]
Class Of Stock [Line Items]
Number of common stock shares approved under ESPP		3,708
Equity Incentive Plan 2022 [Member]
Class Of Stock [Line Items]
Stock options granted		8,830
Number of common stock shares approved under ESPP		3,422
Equity Incentive Plan 2022 [Member] \| Stock options [Member]
Class Of Stock [Line Items]
Number of common stock shares approved under ESPP		238,183
Equity Incentive Plan 2022 [Member] \| Executive Chairman [Member]
Class Of Stock [Line Items]
Stock options granted	83,841
Vesting period	3 years
Equity Incentive Plan 2022 [Member] \| Executive Chairman [Member] \| Stock options [Member]
Class Of Stock [Line Items]
Stock options granted	47,910
Equity Incentive Plan 2022 [Member] \| Executive Chairman [Member] \| Vesting Criteria Based on Market Conditions [Member]
Class Of Stock [Line Items]
Stock options granted	11,977
Equity Incentive Plan 2022 [Member] \| Executive Chairman [Member] \| Vesting Criteria Based on Achieving Cumulative Revenue of $1.5 Million [Member]
Class Of Stock [Line Items]
Stock options granted	11,977
Value of shares sold under equity distribution agreement	$ 1,500,000
Equity Incentive Plan 2022 [Member] \| Executive Chairman [Member] \| Vesting Criteria Based on Definitive Agreement [Member]
Class Of Stock [Line Items]
Stock options granted	11,977

Business Segment Information - Additional Information (Details)	3 Months Ended
	Jun. 30, 2026 Segment
Segment Reporting [Abstract]
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	Executive Chairman [Member]
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description	For purposes of evaluating performance and allocating resources, the Company’s CODM, its Executive Chairman, regularly reviews Consolidated Operating Loss as reported in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Loss as compared to budget
Number of operating segments	1

Stockholders' Equity - Schedule of Stock-based Compensation Expense (Details) - USD ($)	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 91,000	$ 78,000
Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	14,000	13,000
Location, Statement of Income, Balance [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 77,000	$ 65,000

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2024
Loss Contingencies [Line Items]
Accrual for loss contingencies	$ 0.6	$ 0.6
Loss contingency accrual classified as liability	0.2
Location, Statement of Financial Position, Balance [Axis]: us-gaap:AccruedLiabilitiesCurrent
Loss Contingencies [Line Items]
Accrual for loss contingencies	$ 0.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482645/405-30-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.W.Q2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479583/944-40-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 720
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483359/720-20-50-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 27
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482395/460-10-55-27

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

Stockholders' Equity - Summary of Company's RSUs Activity (Details) - Restricted stock units (RSUs) [Member]	3 Months Ended
	Jun. 30, 2026 $ / shares shares
Class Of Stock [Line Items]
Beginning balance, Unvested, Number of Shares \| shares	75,000
Granted, Number of Shares \| shares	0
Vested, Number of Shares \| shares	0
Canceled / forfeited, Number of Shares \| shares	0
Ending balance, Unvested, Number of Shares \| shares	75,000
Beginning balance, Unvested, Weighted Average Grant-Date Fair Value \| $ / shares	$ 1.73
Granted, Weighted Average Grant-Date Fair Value \| $ / shares	0
Vested, Weighted Average Grant-Date Fair Value \| $ / shares	0
Canceled / forfeited, Weighted Average Grant-Date Fair Value \| $ / shares	0
Ending balance, Unvested, Weighted Average Grant-Date Fair Value \| $ / shares	$ 1.73

Business Segment Information - Summary of Disaggregated Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Total Revenues	$ 18	$ 37
Operating expenses
Research and development expenses	1,132	1,001
Selling, general and administrative expenses	1,645	1,951
Royalty [Member]
Segment Reporting [Line Items]
Total Revenues	18	37
Operating Segments [Member]
Segment Reporting [Line Items]
Total Revenues	18	37
Operating expenses
Research and development expenses	1,082	932
Selling, general and administrative expenses	1,564	1,881
Non-cash stock-based compensation	91	78
Depreciation and amortization	40	61
Total operating expense	2,777	2,952
Consolidated operating loss	(2,759)	(2,915)
Operating Segments [Member] \| Royalty [Member]
Segment Reporting [Line Items]
Total Revenues	$ 18	$ 37

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2026	Mar. 31, 2026
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	3,194,295	2,894,519
Common stock, shares outstanding	3,194,295	2,894,519

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
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-URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.5-02(29))
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(16)(a))
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-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

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-Paragraph 3
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

+ Details

Commitments and Contingencies

3 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 6. Commitments and Contingencies

Legal Matters

In addition to commitments and obligations in the ordinary course of business, the Company may be subject, from time to time, to various claims and pending and potential legal actions arising out of the normal conduct of its business.

On August 27, 2024, H.C. Wainwright & Co., LLC (“H.C. Wainwright”) filed a complaint against the Company in the State of New York alleging that the Company breached a tail financing provision included in an engagement agreement the Company entered into with H.C. Wainwright in May 2023. In its complaint, H.C. Wainwright is seeking compensatory and consequential damages and attorneys’ fees. On October 18, 2024, the Company filed an answer to the complaint and on September 2, 2025, the Company filed counterclaims for rescission, fraudulent inducement, and breach of contract against H.C. Wainwright. H.C. Wainwright moved to

dismiss the Company's counterclaims in November 2025, and the Court granted that motion in July 2026. The Company is defending against H.C. Wainwright’s claims and pursuing its counterclaims vigorously, but there is no guarantee that the Company will be successful in these efforts.

The Company assesses contingencies to determine the degree of probability and range of possible loss for potential accrual in its financial statements. Because litigation is inherently unpredictable and unfavorable resolutions could occur, assessing litigation contingencies is subjective and requires judgments about future events. When evaluating contingencies, the Company may be unable to provide a meaningful estimate due to a number of factors, including the procedural status of the matter in question, the presence of complex or novel legal theories, and/or the ongoing discovery and development of information important to the matters. In addition, damage amounts claimed in litigation against it may be unsupported, exaggerated or unrelated to possible outcomes, and as such are not meaningful indicators of its potential liability.

The Company regularly reviews contingencies to determine the adequacy of its accruals and related disclosures and monitors each related legal issue and adjusts accruals as might be warranted based on new information and further developments. During the three months ended September 30, 2024, the Company recognized an accrual of $0.6 million (which was considered a financing fee related to the Offering discussed in Note 4. Stockholders' Equity) for the loss contingencies associated with the above described H.C. Wainwright complaint. As of June 30, 2026, the accrual has not changed. Of the $0.6 million loss contingency accrual, $0.4 million is included in accrued expenses on the accompanying condensed consolidated balance sheets. The remaining $0.2 million of the loss contingency accrual is classified as a liability to be settled in equity on the accompanying condensed consolidated balance sheets. The liability to be settled in equity relates to a fixed number of warrants that were included in the complaint as part of the sought compensatory damages. The Company recorded the loss contingency accrual as it determined that an unfavorable outcome is probable or reasonably estimable and believed that the amount or range of any possible loss was reasonably estimable. However, amounts accrued for legal contingencies often result from a complex series of judgments about future events and uncertainties that rely heavily on estimates and assumptions including timing of related payments, and the outcome of legal proceedings and claims brought against the Company is subject to significant uncertainty. If one or more legal matters were resolved against the Company in a reporting period, the Company’s consolidated financial statements for that reporting period could be materially adversely affected.

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net loss	$ (1,338)	$ (2,843)
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on change in fair value of common stock warrant liabilities	(1,400)	0
Interest accretion on escrow receivable	(2)	(4)
Depreciation and amortization	40	61
Stock-based compensation	91	78
Non-cash lease expense	120	112
Increase (decrease) in cash resulting from changes in:
Accounts receivable	3	(2)
Prepaid expenses and other assets	47	248
Accounts payable	(400)	(971)
Accrued expenses	(243)	(499)
Operating lease liabiliy	(131)	(120)
Net cash used in operating activities	(3,213)	(3,940)
Cash Flows from Investing Activities
Purchases of fixed assets	(23)	0
Net cash used in investing activities	(23)	0
Cash Flows from Financing Activities
Proceeds from issuance of common stock, net	0	1,811
Repayment of insurance premium financing liability	(118)	(128)
Net cash (used in) provided by financing activities	(118)	1,683
Net decrease in cash, cash equivalents, and restricted cash	(3,354)	(2,257)
Cash, cash equivalents, and restricted cash at beginning of period	5,167	11,455
Cash, cash equivalents, and restricted cash at end of period	1,813	9,198
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents	1,670	9,055
Restricted cash	143	143
Cash, cash equivalents, and restricted cash at end of period	1,813	9,198
Supplemental Disclosure of Cash Flow Information:
Income taxes paid	3	0
Interest paid	$ 4	$ 4

Collaborative Research, Development, and License Agreements

3 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Collaborative Research, Development, and License Agreements

Note 5. Collaborative Research, Development, and License Agreements

License Agreements

BICO Group AB

In February 2022, the Company entered into a license agreement with Cellink AB and its subsidiaries (collectively, “BICO Group AB”), where the Company agreed to grant a non-exclusive license to BICO Group AB to use the Company’s aforementioned patents for its business operations of manufacturing and selling bioprinters as well as bioinks. As part of the license agreement, BICO Group AB agreed to pay the Company a one time, nonrefundable upfront fee of $1,500,000, as well as ongoing sales-based royalties (based on percentages of BICO Group AB’s net sales) for the use of the granted license, which is recorded as revenue. The sales-based royalties became effective beginning on February 22, 2022, the effective date of the license agreement, and continues until the expiration of the last surviving licensed patent. As the sales-based royalties are required to be paid 45 days after the end of every quarter, there is variable consideration that must be estimated to determine royalty revenue within a given reporting period. Once actual revenue earned is determined in the following fiscal quarter, an adjustment is made from the previously estimated amount. For the three months ended June 30, 2026, the Company recorded $18,000 of royalty revenue based on sales-based royalties from the license Agreement. Royalty revenue presented on the statements of operations and other comprehensive loss was $37,000 for the three months ended June 30, 2025.

Collaborative Research, Development, and License Agreements - Additional Information (Details) - USD ($)		3 Months Ended
	Feb. 22, 2022	Jun. 30, 2026	Jun. 30, 2025
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total Revenues		$ 18,000	$ 37,000
BICO Group AB [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Nonrefundable upfront fee paid	$ 1,500,000
Total Revenues			$ 37,000
BICO Group AB [Member] \| Sales Based Royalties [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total Revenues		$ 18,000

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

+ Details

Leases (Tables)

3 Months Ended

Jun. 30, 2026

Leases [Abstract]

Schedule of Lease Liabilities and Corresponding Right-of-use Assets

The table below summarizes the Company’s lease liabilities and corresponding right-of-use assets as of June 30, 2026, (in thousands except the year and percentage):


	June 30, 2026
ASSETS
Operating lease right-of-use assets	$	287
Total lease right-of-use assets	$	287

LIABILITIES
Current
Operating lease liability	$	316
Total lease liabilities	$	316

Weighted average remaining lease term (years):	0.58
Weighted average discount rate:		6	%

Schedule of Future Lease Payments

Future lease payments relating to the Company’s operating lease liabilities as of June 30, 2026 are as follows (in thousands):


Fiscal year ending March 31, 2027		322
Total future lease payments		322
Less: Imputed interest		(6	)
Total lease obligations		316
Less: Current obligations		(316	)
Noncurrent lease obligations	$	—

Related Parties - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Mar. 31, 2026
Related Party Transaction [Line Items]
Accounts payable	$ 621		$ 1,021
Viscient [Member]
Related Party Transaction [Line Items]
Consulting expenses	198	$ 72
Accounts payable	44
Histology services to related parties	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business Segment Information - Summary of Disaggregated Expense (Parenthetical) (Details) - USD ($)	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Stock-based compensation	$ 91,000	$ 78,000
Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpense
Segment Reporting [Line Items]
Stock-based compensation	14,000	13,000
Depreciation and amortization expense	36,000	56,000
Location, Statement of Income, Balance [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense
Segment Reporting [Line Items]
Stock-based compensation	77,000	65,000
Depreciation and amortization expense	$ 4,000	$ 5,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stockholders' Equity

3 Months Ended

Jun. 30, 2026

Equity [Abstract]

Stockholders' Equity

Note 4. Stockholders’ Equity

Preferred Stock

The Company is authorized to issue 25,000,000 shares of preferred stock. There are no shares of preferred stock currently outstanding, and the Company has no current plans to issue shares of preferred stock.

Common Stock

In March 2021, the Company's Board of Directors ("Board") approved the 2021 Inducement Equity Incentive Plan ("Inducement Plan"). The Inducement Plan authorized the issuance of up to 62,500 shares of common stock for awards of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock, RSUs, performance units, performance shares, and other stock or cash awards. In February 2022, 4,166 incentive stock options were issued under the Inducement Plan.

On October 12, 2022, the Company's stockholders and the Board approved the 2022 Equity Incentive Plan ("2022 Plan"), and it became effective on that date. The 2022 Plan replaced the Amended and Restated 2012 Equity Incentive Plan ("2012 Plan") on the effective date. Upon the effective date, the Company ceased granting awards under the 2012 Plan and any shares remaining available for future issuance under the 2012 Plan were cancelled and are no longer available for future issuance. The 2012 Plan continues to govern awards previously granted under it. At the time the Board approved the 2022 Plan, an aggregate of 113,583 shares of the Company’s common stock was initially reserved for issuance under the 2022 Plan. The Company committed to reducing the new 2022 Plan share reserve by the number of shares that were granted under the 2012 Plan and the Inducement Plan between July 25, 2022 and October 12, 2022. From July 25, 2022 to October 12, 2022, the Company issued 10,521 shares of its common stock under the 2012 Plan. As a result, the number of shares reserved for future issuance under the 2022 Plan was 103,062 shares of common stock. The Company also committed to reducing the aggregate number of shares of its common stock issuable pursuant to the Inducement Plan from 62,500 shares to 4,250 shares (which includes 4,166 shares of its common stock issuable pursuant to an outstanding option to purchase common stock with an exercise price of $33 per share, leaving only 83 shares available for future issuance under the Inducement Plan) and the share reserve was reduced effective October 12, 2022. On November 20, 2024, the Company’s stockholders approved the amendment and restatement of the 2022 Plan (the “A&R 2022 Plan”) to increase the number of shares reserved for issuance thereunder by 147,916 shares.

On January 26, 2024, the Company filed a shelf registration statement on Form S-3 (File No. 333-276722) to register $150.0 million of the Company's common stock, preferred stock, debt securities, warrants and units, or any combination of the foregoing (the "2024 Shelf"). The 2024 Shelf was declared effective by the SEC on February 8, 2024.

On March 16, 2018, the Company entered into a Sales Agreement with Jones Trading Institutional Services LLC (the “Agent”).

On January 26, 2024, the Company filed a prospectus with the 2024 Shelf (the "2024 ATM Prospectus"), pursuant to which the Company may offer and sell, from time to time through the Agent, shares of its common stock in ATM sales transactions having an aggregate offering price of up to $2,605,728. The Company filed amendments to the 2024 ATM Prospectus on February 26, 2025 and again on April 11, 2025, providing that the Company may offer and sell, from time to time through the Agent, shares of its common stock in ATM sales transactions having an additional aggregate offering price of up to $5,311,508 and $4,766,105, respectively. Any shares offered and sold in these ATM transactions will be issued pursuant to the 2024 Shelf.

During the three months ended June 30, 2026, the Company issued zero shares of common stock in ATM offerings pursuant to the 2024 Shelf. As of June 30, 2026, the Company has sold an aggregate of 1,198,134 shares of common stock in ATM offerings under the 2024 ATM Prospectus, with gross proceeds of approximately $6.9 million. As of June 30, 2026, there was approximately $140.1 million unallocated and available for future offerings under the 2024 Shelf, and approximately $3.1 million available for future offerings through the Company’s ATM program under the 2024 ATM Prospectus.

March 2026 Best Efforts Public Offering

On March 31, 2026, the Company priced the 2026 Offering which consisted of: (i) 286,557 shares of its common stock and 429,836 accompanying common warrants (“2026 Common Warrants”) to purchase up to 429,836 shares of common stock at a combined public offering price of $1.14 per share and accompanying one and a half common warrants to purchase one share common stock and (ii) 2,345,022 pre-funded warrants (“2026 Pre-Funded Warrants”) to purchase 2,345,022 shares of common stock and 3,517,533 accompanying 2026 Common Warrants to purchase up to 3,517,533 shares of common stock at a combined public offering price of $1.139 per pre-funded warrant and accompanying one and a half common warrants to purchase one share of common stock. Each 2026 Common Warrant will have an exercise price of $1.71 per share of common stock.

The per share exercise price for the 2026 Pre-Funded Warrants is $0.001, subject to adjustment as provided therein. The 2026 Pre-Funded Warrants were immediately exercisable, subject to certain beneficial ownership limitations, and will expire when exercised in full. The holder can exercise the 2026 Pre-Funded Warrants by means of a “cashless exercise.”

The per share exercise price for the 2026 Common Warrants is $1.71, subject to adjustment as provided therein. The 2026 Common Warrants were immediately exercisable, subject to certain beneficial ownership limitations, and will expire on the date that is five years following the original issuance date. The 2026 Common Warrants have price protection against subsequent dilutive issuances of shares of common stock, options, warrants and convertible securities, subject to a $0.01 per share of common stock floor, as further described in the 2026 Common Warrants. The holders of the 2026 Common Warrants may exchange the 2026 Common Warrants on a cashless basis for a number of shares of common stock determined by multiplying the total number of shares of common stock with respect to which the 2026 Common Warrant is then being exercised by the Black Scholes Value (as defined in the 2026 Common Warrant) divided by the lower of the two closing bid prices of the common stock in the two days prior to the time of such exercise, but in any event not less than $0.01.

In connection with the 2026 Offering, the Company paid Joseph Gunnar & Co. LLC (the "Placement Agent"), which acted as the placement agent in connection with the 2026 Offering, a cash fee of 7.5% of the aggregate gross proceeds raised in the 2026 Offering. Additionally, in connection with the 2026 Offering, the Company issued to the Placement Agent 131,579 warrants to purchase 131,579 shares of common stock ("Placement Agent Warrants") with an exercise price of $1.425 per share of common stock.

The closing of the 2026 Offering occurred on March 31, 2026. The Company received gross proceeds of approximately $3.0 million and net proceeds of approximately $2.4 million from the 2026 Offering, after deducting the offering expenses payable by the Company, including the Placement Agent fees.

Restricted Stock Units

The following table summarizes the Company’s RSUs activity for the three months ended June 30, 2026:


	Number of Shares		Weighted Average Grant-Date Fair Value
Unvested at March 31, 2026		75,000	$	1.73
Granted		—	$	—
Vested		—	$	—
Cancelled / forfeited		—	$	—
Unvested at June 30, 2026		75,000	$	1.73

Stock Options

During the three months ended June 30, 2026, under the A&R 2022 Plan, 8,830 stock options were granted at various exercise prices.

On August 5, 2024, the Company granted 83,841 stock options to its Executive Chairman under the A&R 2022 Plan. Of the stock options granted, 47,910 will vest evenly on an annual basis over three years. 11,977 of the options granted have unique vesting criteria based on market conditions, more specifically the Company's stock price. As the market condition based stock options require significant estimates and assumptions to calculate their fair value, the Company engaged with valuation specialists to calculate the fair value and requisite service periods using Monte Carlo simulations. The grant date fair value of the market-based awards was approximately $62,000. The market-based awards will be expensed over their determined requisite service periods. The remaining 23,954 options granted have unique vesting criteria based on specific Company performance conditions. The vesting criteria for 11,977 of these options includes the Company achieving cumulative revenue of $1.5 million. The vesting criteria for the remaining 11,977 options includes the Company entering into a definitive agreement that constitutes a major strategic partnership, at the discretion of the Board. As of June 30, 2026, no performance conditions have been met. The grant date fair value of the performance based awards is $118,000 in the aggregate, which will be recognized when the performance condition is probable of being satisfied.

The following table summarizes the Company’s stock option activity from March 31, 2026 to June 30, 2026:


	Options Outstanding		Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at March 31, 2026		261,084	$	12.40	$	—
Options granted		8,830	$	1.31	$	—
Options cancelled / forfeited		—	$	—	$	—
Options expired		—	$	—	$	—
Outstanding at June 30, 2026		269,914	$	12.03	$	—
Vested and Exercisable at June 30, 2026		61,796	$	39.75	$	—

The weighted average remaining contractual term of stock options exercisable and outstanding at June 30, 2026, was approximately 6.4 years.

Warrants

2024 Offering

In connection with a best efforts public offering that occurred in May 2024 ("2024 Offering"), the Company issued common warrants ("2024 Common Warrants") to purchase up to 130,202 shares of common stock at a combined public offering price of $9.60 per share and accompanying common warrant to purchase one share of common stock and (ii) pre-funded warrants ("2024 Pre-Funded Warrants") to purchase 416,666 shares of common stock and accompanying 2024 Common Warrants to purchase up to 416,666 shares of common stock at a combined public offering price of $9.588 per 2024 Pre-Funded Warrant and accompanying 2024 Common Warrant to purchase one share of common stock. The Company has determined that these warrants should be classified as equity instruments since they do not require the Company to repurchase the underlying common stock and do not require the Company to issue a variable amount of common stock. In addition, these warrants are indexed to common stock and do not have any antidilution rights. As of June 30, 2026, all 2024 Pre-Funded Warrants associated with the 2024 Offering were fully exercised.

The following table summarizes the Company’s activity under the 2024 Common Warrants from March 31, 2026 to June 30, 2026:


	Number of Warrants		Exercise Price
Outstanding at March 31, 2026		539,060	$	9.60
Issued		—		—
Exercised		—		—
Outstanding at June 30, 2026		539,060	$	9.60

2026 Offering

In connection with the 2026 Offering, the Company issued (i) 286,557 shares of its common stock and 429,836 accompanying 2026 Common Warrants to purchase up to 429,836 shares of common stock at a combined public offering price of $1.14 per share and accompanying one and a half 2026 Common Warrants to purchase one share common stock and (ii) 2,345,022 2026 Pre-Funded Warrants to purchase 2,345,022 shares of common stock and 3,517,533 accompanying 2026 Common Warrants to purchase up to 3,517,533 shares of common stock at a combined public offering price of $1.139 per 2026 Pre-Funded Warrant and accompanying one and a half 2026 Common Warrants to purchase one share of common stock. The Company has determined that the 2026 Pre-Funded Warrants should be classified as equity instruments since they do not require the Company to repurchase the underlying common stock and do not require the Company to issue a variable amount of common stock. Each 2026 Common Warrant has an exercise price of $1.71 per share of common stock. The Company has determined that the 2026 Common Warrants should be classified as a common stock warrant liability as the instrument contains a leverage factor and therefore is not considered indexed to the Company's own stock.

In connection with the 2026 Offering, the Company issued 131,579 Placement Agent Warrants to purchase 131,579 shares of common stock with an exercise price of $1.425 per share of common stock.

The following table summarizes the Company's activity under the 2026 Pre-Funded Warrants, the 2026 Common Warrants, and the Placement Agent Warrants from March 31, 2026 to June 30, 2026:


	2026 Pre-Funded Warrants			Exercise Price		2026 Common Warrants		Exercise Price		Placement Agent Warrants		Exercise Price
Outstanding at March 31, 2026		2,345,022		$	0.001		3,947,369	$	1.71		131,579	$	1.43
Issued		—		$	—		—	$	—		—	$	—
Exercised		(300,000	)	$	0.001		—	$	—		—	$	—
Outstanding at June 30, 2026		2,045,022		$	0.001		3,947,369	$	1.71		131,579	$	1.43

The following table summarizes the Company’s common stock warrant liability change from March 31, 2026, to June 30, 2026, which represents a recurring measurement that is classified with Level 3 of the fair value hierarchy wherein the fair value is estimated using significant unobservable inputs (in thousands):


Beginning common stock warrant liability at March 31, 2026	$	5,700
Common warrants issued		—
Common warrants exercised		—
Change in fair value		(1,400	)
Ending common stock warrant liability at June 30, 2026	$	4,300

The fair value of the common stock warrant liability is measured using a Monte Carlo model and is remeasured each reporting period, and the change in fair value is recorded in earnings. The fair value of the 2026 Common Warrants is inherently sensitive to changes in

the Company's stock price and related volatility assumptions. The assumptions that the Company used to determine the fair value at the reporting date were as follows:


	As of June 30, 2026
Dividend yield		—
Volatility		110.00	%
Risk-free interest rate		4.10	%
Expected life of warrants	4.75 years
Weighted average grant date fair value	$	1.71

Employee Stock Purchase Plan

In July 2023, the Board adopted, and subsequently on October 31, 2023, the Company's stockholders approved, the ESPP. The ESPP became effective on October 31, 2023. The Company reserved 3,750 shares of common stock for issuance thereunder. The ESPP permits employees to purchase common stock through payroll deductions, limited to 15 percent of each employee’s compensation up to $25,000 per employee per year or 42 shares per employee per six-month purchase period. Shares under the ESPP are purchased at 85 percent of the fair market value at the lower of (i) the closing price on the first trading day of the six-month purchase period or (ii) the closing price on the last trading day of the six-month purchase period. The initial offering under the ESPP commenced on March 1, 2024. During the three months ended June 30, 2026 there were no shares issued under the ESPP. At June 30, 2026, there were 3,708 shares remaining available for purchase under the ESPP.

Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consisted of the following at June 30, 2026:


Common stock issuable pursuant to options outstanding and reserved under the 2012 Plan			27,565
Common stock issuable pursuant to options outstanding and reserved under the A&R 2022 Plan			238,183
Common stock reserved under the A&R 2022 Plan			3,422
Common stock reserved under the ESPP			3,708
Common stock reserved under the 2021 Inducement Equity Plan			83
Common stock issuable pursuant to restricted stock units outstanding under the A&R 2022 Plan			75,000
Common stock issuable pursuant to options outstanding and reserved under the Inducement Plan			4,166
Common stock issuable pursuant to outstanding 2024 Common Warrants			539,060
Common stock issuable pursuant to outstanding 2026 Pre-Funded Warrants			2,045,022
Common stock issuable pursuant to outstanding 2026 Common Warrants			3,947,369
Common stock issuable pursuant to outstanding Placement Agent Warrants			131,579
Total at June 30, 2026			7,015,157

Stock-based Compensation Expense and Valuation Information

Stock-based awards include stock options and RSUs under the Company's A&R 2022 Plan, 2012 Plan, Inducement Plan, and rights to purchase stock under the ESPP.

Stock-based compensation expense for all stock-based awards consists of the following (in thousands):


	Three Months Ended		Three Months Ended
	June 30, 2026		June 30, 2025
Research and development	$	14	$	13
General and administrative		77		65
Total	$	91	$	78

The total unrecognized compensation cost related to unvested stock option grants as of June 30, 2026 was approximately $0.5 million and the weighted average period over which these grants are expected to vest is 2.58 years.

The total unrecognized compensation cost related to unvested RSUs as of June 30, 2026 was less than $0.1 million, which will be recognized over a weighted average period of 0.58 years.

The Company uses either the Black-Scholes or Monte Carlo option-pricing models to calculate the fair value of stock options, depending on the complexity of the equity grants. Stock-based compensation expense is recognized over the vesting period using the straight-line method. The assumed dividend yield is based on the Company’s expectation of not paying dividends in the foreseeable future. The Company uses the Company-specific historical volatility rate as the indicator of expected volatility. The risk-free interest rate assumption is based on U.S. Treasury rates. The weighted average expected life of options was estimated using the simplified method, which is the average of the contractual term and the weighted average vesting term of the options. The measurement and classification of share-based payments to non-employees is consistent with the measurement and classification of share-based payments to employees. The fair value of stock options was estimated at the grant date using the following weighted average assumptions:


	Three Months Ended			Three Months Ended
	June 30, 2026			June 30, 2025
Dividend yield		—			—
Volatility		112.08	%		118.70	%
Risk-free interest rate		4.12	%		4.07	%
Expected life of options	6 years			6 years
Weighted average grant date fair value	$	1.11		$	1.68

The fair value of each RSU is recognized as stock-based compensation expense over the vesting term of the award. The fair value is based on the closing stock price on the date of the grant.

The Company uses the Black-Scholes valuation model to calculate the fair value of shares issued pursuant to the ESPP. Stock-based compensation expense is recognized over the purchase period using the straight-line method. The assumed dividend yield is based on the Company’s expectation of not paying dividends in the foreseeable future. The Company uses the Company-specific historical volatility rate as the indicator of expected volatility. The risk-free interest rate assumption is based on U.S. Treasury rates. The expected life is the 6-month purchase period. There were no participants in the ESPP for the purchase periods that commenced on March 1, 2026.

Stockholders' Equity - Summary of Warrants Liability (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2026 USD ($)
Class of Warrant or Right [Line Items]
Ending common stock warrant liability	$ 4,300
Common Stock Warrant [Member]
Class of Warrant or Right [Line Items]
Beginning common stock warrant liability	5,700
Common warrants issued	0
Common warrants exercised	0
Change in fair value	(1,400)
Ending common stock warrant liability	$ 4,300
Warrants and Rights Outstanding, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]	us-gaap:FairValueInputsLevel3Member

Leases - Schedule of Future Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026	Dec. 17, 2021
Leases [Abstract]
Fiscal year ending March 31, 2027	$ 322
Total future lease payments	322
Less: Imputed interest	(6)
Total lease liabilities	316		$ 2,300
Less: Current obligations	(316)	$ (447)
Noncurrent lease obligations	$ 0

Stockholders' Equity - Warrants - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions					3 Months Ended
	Jul. 17, 2026	Jun. 30, 2026	Mar. 31, 2026	Aug. 05, 2024	Jun. 30, 2026
Class of Stock [Line Items]
Fair value of the warrants		$ 4.3			$ 4.3
Common Warrants [Member]
Class of Stock [Line Items]
Issuance of warrants	4,705,883	429,836		130,202	429,836
Excercise price per share	$ 0.85	$ 1.14		$ 9.6	$ 1.14
Warrants exercise price per share		$ 1.71	$ 1.71		1.71
2024 Pre-Funded Warrant and Accompanying 2026 Common Warrant [Member]
Class of Stock [Line Items]
Excercise price per share				$ 9.588
Pre-Funded Warrants [Member]
Class of Stock [Line Items]
Issuance of common stock from stock options exercises, net, Shares	4,705,883
Warrants exercise price per share			0.001
2026 Common Warrants [Member]
Class of Stock [Line Items]
Accompanying warrants issued		3,517,533
Warrants exercise price per share		$ 1.71	1.71		$ 1.71
Pre-funded warrants exercised					0
2026 Pre-Funded Warrants [Member]
Class of Stock [Line Items]
Excercise price per share		1.139			$ 1.139
Warrants exercise price per share		0.001	0.001		$ 0.001
Pre-funded warrants exercised					300,000
Placement Agent Warrants [Member]
Class of Stock [Line Items]
Warrants exercise price per share		$ 1.43	$ 1.43		$ 1.43
Pre-funded warrants exercised					0
IPO [Member] \| Common Warrants [Member]
Class of Stock [Line Items]
Issuance of common stock from stock options exercises, net, Shares				416,666
IPO [Member] \| Maximum [Member] \| Common Warrants [Member]
Class of Stock [Line Items]
Issuance of warrants				416,666
2026 Offering [Member]
Class of Stock [Line Items]
Issuance of common stock from stock options exercises, net, Shares		286,557	286,557
2026 Offering [Member] \| Common Warrants [Member]
Class of Stock [Line Items]
Issuance of warrants			429,836
Excercise price per share			$ 1.14
Warrants exercise price per share			1.71
2026 Offering [Member] \| Pre-Funded Warrants [Member]
Class of Stock [Line Items]
Excercise price per share			$ 1.139
Issuance of common stock from stock options exercises, net, Shares			2,345,022
2026 Offering [Member] \| 2026 Common Warrants [Member]
Class of Stock [Line Items]
Issuance of common stock from stock options exercises, net, Shares			3,517,533
Accompanying warrants issued		429,836
2026 Offering [Member] \| 2026 Pre-Funded Warrants [Member]
Class of Stock [Line Items]
Issuance of common stock from stock options exercises, net, Shares		2,345,022
Accompanying warrants issued		2,345,022
2026 Offering [Member] \| Placement Agent Warrants [Member]
Class of Stock [Line Items]
Issuance of warrants		131,579	131,579		131,579
Issuance of common stock from stock options exercises, net, Shares		131,579	131,579
Warrants exercise price per share		$ 1.425	$ 1.425		$ 1.425
2026 Offering [Member] \| Maximum [Member] \| 2026 Pre-Funded Warrants [Member]
Class of Stock [Line Items]
Issuance of warrants		3,517,533			3,517,533

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2026
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not necessarily include all information and notes required by GAAP for complete financial statements. The condensed consolidated balance sheet at March 31, 2026 is derived from the Company’s audited consolidated balance sheet as filed with the Securities and Exchange Commission ("SEC") on July 14, 2026. The unaudited condensed consolidated financial statements include the accounts of VivoSim and its wholly owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the unaudited financial information for the interim periods presented reflects all adjustments, which are only normal and recurring, necessary for a fair statement of the Company’s financial position, results of operations, stockholders’ equity and cash flows. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2026, as filed with the SEC. Operating results for any interim period are not necessarily indicative of the operating results for any other interim period or the Company’s full fiscal year ending March 31, 2027 (see “Note 1. Description of Business”).
Liquidity and Going Concern	Liquidity and Going Concern The accompanying condensed consolidated financial statements have been prepared on the basis that the Company is a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. As of June 30, 2026, the Company had cash and cash equivalents of approximately $1.7 million, restricted cash of approximately $0.1 million and an accumulated deficit of approximately $357.3 million. The restricted cash was pledged as collateral for a letter of credit that the Company is required to maintain as a security deposit under the terms of the lease agreements for its facilities. The Company also had negative cash flows from operations of approximately $3.2 million during the three months ended June 30, 2026. As of June 30, 2026, the Company had total current assets of approximately $3.2 million and current liabilities of approximately $1.9 million, resulting in working capital of $1.3 million. The Company also had significant cash inflows received after June 30, 2026, which include the milestone payment and escrow release discussed in "Note 1. Description of Business", as well as a private placement transaction, discussed in "Note 11. Subsequent Events". Through June 30, 2026, the Company has financed its operations primarily through the sale of common stock through public and at-the-market (“ATM”) offerings, the public and private placement of equity securities, from revenue derived from the licensing of intellectual property, products and research-based services, grants, and collaborative research agreements, and from the sale of convertible notes. Based on the Company's current operating plan and available cash resources, the Company will need substantial additional funding to support future operating activities. The Company has concluded that the prevailing conditions and ongoing liquidity risks faced by the Company raise substantial doubt about its ability to continue as a going concern for at least one year following the date these condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. As the Company continues its operations and is focusing its efforts on services, research, and development, the Company will need to raise additional capital to implement this business plan. The Company cannot predict with certainty the exact amount or timing for any future capital raises. The Company will seek to raise additional capital through debt or equity financings, or through some other financing arrangement. However, the Company cannot be sure that additional financing will be available if and when needed, or that, if available, it can obtain financing on terms favorable to its stockholders. Any failure to obtain financing when required will have a material adverse effect on the Company’s business, operating results, and financial condition.
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. On an ongoing basis, management reviews these estimates and assumptions.
Fair value measurement	Fair value measurement Financial assets and liabilities are measured at fair value, which is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The following is a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Insurance Premium Financing Liability	Insurance Premium Financing Liability In September 2025, the Company entered into an insurance premium financing agreement for $0.4 million, with a term of nine months and an annual interest rate of 7.82%. The Company made a down payment of 10% and is required to make monthly principal and interest payments of $40,468 over the term of the agreement, which will mature in June 2026. The insurance premium financing liability was approximately zero and $0.1 million as of June 30, 2026, and March 31, 2026, respectively. Related prepaid insurance at June 30, 2026, and March 31, 2026 of $0.1 million and $0.2 million, respectively, is included in prepaid expenses and other current assets on the accompanying condensed consolidated balance sheets.
Net Loss Per Share	Net Loss Per Share Basic and diluted net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares used to compute diluted loss per share includes the assumed exercise of any outstanding pre-funded warrants, and excludes any assumed exercise of stock options, shares reserved for purchase under the Company’s 2023 Employee Stock Purchase Plan ("ESPP"), the assumed vesting of restricted stock units ("RSUs"), the exercise of common warrants, and shares subject to repurchase as the effect would be anti-dilutive. No dilutive effect was calculated for the three months ended June 30, 2026 and 2025 as the Company reported a net loss for each respective period and the effect would have been anti-dilutive. Common stock equivalents excluded from computing diluted net loss per share due to their anti-dilutive effect were approximately 5.0 million shares and 0.7 million shares at June 30, 2026 and 2025, respectively. The common stock equivalents excluded include unexercised stock options and common warrants.
Revenue recognition	Revenue recognition Royalty revenue The Company has entered into an intellectual property license agreement with another company that includes royalties based on specified percentages of net product sales, if any. At the initiation of the agreement, the Company analyzed whether it results in a contract with a customer under Accounting Standards Codification ("ASC") Topic 606. The Company considered a variety of factors in determining the appropriate estimates and assumptions under these arrangements, such as whether the Company is a principal vs. agent, whether the elements are distinct performance obligations, whether there are determinable stand-alone prices, and whether any licenses are functional or symbolic. The Company evaluates each performance obligation to determine if it can be satisfied and recognized as revenue at a point in time or over time. Typically, sales-based royalty payments have been identified as variable consideration which must be evaluated to determine if it has been constrained and, therefore, excluded from the transaction price. Please refer to “Note 5. Collaborative Research, Development, and License Agreements” for further information.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies. Unless otherwise stated, the Company believes that the impact of the recently issued accounting pronouncements that are not yet effective will not have a material impact on its consolidated financial position or results of operations upon adoption. Recently Adopted Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The update requires a public business entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. Adoption of the ASU allows for either the prospective or retrospective application of the amendment and is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The new disclosure requirements are included in the Company's Form 10-K for fiscal year ending March 31, 2026, and were applied on a retrospective basis. Recently Issued Accounting Pronouncements On July 4, 2025, the U.S. government enacted comprehensive legislation commonly referred to as the One Big Beautiful Bill Act, or the 2025 Act. The 2025 Act makes changes to U.S. corporate income taxes including reinstating the option to claim 100% accelerated depreciation deductions on qualified property, with prospective application beginning January 20, 2025 and immediate expensing of domestic research and development costs, with prospective application beginning January 1, 2025. The impact of this legislation was not material to the Company's consolidated financial position and results of operations for the quarter ended June 30, 2026. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to improve the disclosures of expenses by providing more detailed information about the types of expenses in commonly presented expense captions. The standard is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The standard can be applied either prospectively or retrospectively. The Company has not yet completed its assessment of the impact of ASU 2024-03 on the Company’s Consolidated Financial Statements.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
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Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

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Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Concentrations

3 Months Ended

Jun. 30, 2026

Risks and Uncertainties [Abstract]

Concentrations

Note 8. Concentrations

Credit risk and significant customers

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash equivalents and short-term investments. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any material losses in such accounts and believes it is not exposed to significant risk. The Company has invested its excess cash primarily in money market funds and U.S. Treasury securities. Additionally, the Company adheres to established guidelines regarding approved investments and maturities of investments, which are designed to preserve their principal value and maintain liquidity.

The Company is also potentially subject to concentrations of credit risk in its revenues and receivable accounts. The Company’s receivables to date related to royalty revenue have been derived from one customer. The Company makes judgment as to its ability to collect outstanding receivables and provides reserves against receivables for estimated losses that may result from a customer or third party's ability to pay. Specific amounts determined to be uncollectible are charged against the reserve. The Company has not historically experienced any receivable write-downs and management does not believe significant credit risk exists as of June 30, 2026.

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

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Stockholders' Equity - Summary of Stock Option Activity (Details)	3 Months Ended
	Jun. 30, 2026 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Options Outstanding, Beginning balance \| shares	261,084
Granted, Options Outstanding \| shares	8,830
Cancelled / forfeited, Options Outstanding \| shares	0
Expired, Options Outstanding \| shares	0
Options Outstanding, Ending balance \| shares	269,914
Vested and Exercisable, Options Outstanding \| shares	61,796
Weighted-Average Exercise Price, Options Beginning balance \| $ / shares	$ 12.4
Options granted, Weighted-Average Exercise Price \| $ / shares	1.31
Options cancelled / forfeited, Weighted-Average Exercise Price \| $ / shares	0
Options expired, Weighted-Average Exercise Price \| $ / shares	0
Weighted-Average Exercise Price, Options Ending balance \| $ / shares	12.03
Vested and Exercisable, Weighted-Average Exercise Price \| $ / shares	$ 39.75
Aggregate Intrinsic Value, Options Beginning balance \| $	$ 0
Aggregate Intrinsic Value, Options Ending balance \| $	0
Vested and Exercisable, Aggregate Intrinsic Value \| $	$ 0

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Millions	1 Months Ended	3 Months Ended
	Sep. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Mar. 31, 2026
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents		$ 1,670,000	$ 9,055,000	$ 5,024,000
Restricted cash		143,000	143,000	143,000
Accumulated deficit		(357,338,000)		(356,000,000)
Cash flow from operations		3,213,000	3,940,000
Total current assets		3,226,000		6,627,000
Total current liabilities		1,893,000		2,785,000
Working capital		$ 1,300,000
Insurance premium financing agreement description		In September 2025, the Company entered into an insurance premium financing agreement for $0.4 million, with a term of nine months and an annual interest rate of 7.82%. The Company made a down payment of 10% and is required to make monthly principal and interest payments of $40,468 over the term of the agreement, which will mature in June 2026. The insurance premium financing liability was approximately zero and $0.1 million as of June 30, 2026, and March 31, 2026, respectively.
Financing agreement amount	$ 400,000
Percentage of down payment	10.00%
Insurance premium financing liability		$ 0		118,000
Dilutive effect		$ 0	$ 0
Common stock equivalents excluded from computing diluted net loss per share		5.0	0.7
Minimum percentage of income tax payment net of refunds received		5.00%
Percentage of accelerated depreciation deductions on qualified property		100.00%
Insurance Premium Financing Liability [Member]
Summary Of Significant Accounting Policies [Line Items]
Annual interest rate	7.82%
Monthly principal and interest payments	$ 40,468
Prepaid insurance		$ 100,000		$ 200,000

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jun. 30, 2026	Aug. 10, 2026
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2026
Document Fiscal Year Focus	2027
Document Fiscal Period Focus	Q1
Trading Symbol	VIVS
Entity Registrant Name	VivoSim Labs, Inc.
Entity Central Index Key	0001497253
Current Fiscal Year End Date	--03-31
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		14,850,612
Entity File Number	001-35996
Entity Current Reporting Status	Yes
Entity Tax Identification Number	27-1488943
Entity Address, Address Line One	11555 Sorrento Valley Rd
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	858
Local Phone Number	224-1000
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, $0.001 par value
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Description of Business

3 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business

Note 1. Description of Business

Nature of Operations

VivoSim Labs, Inc., formerly known as Organovo Holdings, Inc. ("VivoSim" and the “Company”), is a pharmaceutical and biotechnology services company that is focused on providing testing of drugs and drug candidates in three-dimensional (“3D”) human tissue models of liver and intestine. The Company offers partners liver and intestinal toxicology insights using its new approach methodologies ("NAM") models. The Company anticipates accelerated adoption of human tissue models following the U.S. Food and Drug Administration (“FDA") announcement on April 10, 2025 to refine animal testing requirements in favor of these non-animal NAM methods. The Company will also offer bespoke services in the areas of investigational toxicology, mechanism of drug action elucidation, and other applications of these complex human tissue models.

Prior to March 2025, the Company was a clinical stage biotechnology company that was focused on developing FXR314 in inflammatory bowel disease ("IBD"), including ulcerative colitis ("UC"), based on demonstration of clinical promise in 3D human tissues as well as strong preclinical data. The Company's clinical focus was in advancing FXR314 in IBD, including UC and Crohn’s disease ("CD"). The Company planned to start a Phase 2a clinical trial in UC in the calendar year 2025 and was also exploring the potential for combination therapies using FXR314 and approved mechanisms in preclinical animal studies and the Company's IBD disease models.

In March 2025, the Company sold its FXR program for $10.0 million, with $9.0 million paid at closing and $1.0 million held in escrow for a period of 15 months, with future milestones of up to $50.0 million in the aggregate to be paid if the asset, FXR314, hits key development, regulatory and commercial milestones. In July 2026, the Company received a milestone payment in the amount of $5.0 million upon the achievement of a certain development milestone related to FXR314. Additionally, in July 2026, the $1.0 million held in escrow was released to the Company.

Effective April 24, 2025, the Company changed its corporate name to VivoSim Labs, Inc. by filing a Certificate of Amendment to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware. The Company changed its name to reflect its new business model, which includes the use of other longstanding assets of the Company, intestinal and liver tox models and expertise, and its IP portfolio for 3D bioprinting.

The Company is now offering liver toxicology predictive screening and research services as well as working on predicting and studying the intestinal side effect profiles of drugs that are therapeutic candidates of pharmaceutical and biotech companies at all stages of drug development. The Company plans to not only market this directly to pharmaceutical and biotech companies, but also partner with specific contract research organizations to complement its offering and to quickly grow its portfolio of clients. The Company's services offer the potential benefit of reducing the significant risk and cost of bringing therapeutics to market through the regulatory process. It is estimated that less than 10% of drug candidates entering clinical trials are approved, with a portion of the failures due to unexpected liver toxicity or intestinal intolerability. In addition, even approved drugs are occasionally withdrawn after liver toxicity is determined to be caused by the drug in a phenomenon called drug induced liver injury. The Company presented findings at the May 2025 Digestive Disease Week scientific conference showing that the liver toxicology platform had a best-in-class predictive power. VivoSim's liver predictive power was shown to be 87.5% for a set of challenging liver toxicity cases – inclusive of classic cases of “liver tox misses” drugs with unforeseen liver toxicity found in clinical trials or drugs that were withdrawn from the market after liver toxicity issues emerged later. The platform identified correctly that 87.5% of the known liver-toxic drugs could be seen as liver toxic using NAMkind™ liver. This is known as the sensitivity of the platform, which at 87.5% is the world’s best. Importantly, the specificity was 100%, meaning that none of the compounds tested that are not liver toxic were incorrectly identified as having liver toxicity issues by the platform.

The Company uses its proprietary technologies to build functional 3D human tissues that mimic key aspects of native human tissue composition, architecture, function, and disease. The Company believes these attributes can enable critical complex, multicellular disease models that can be used to study and develop clinically effective drugs across multiple therapeutic areas.

The Company has also used these human disease models to identify new molecular targets responsible for driving IBD and to explore the mechanism of action of known drugs including JAK inhibitors and related molecules. A portion of its internal research continues to focus on early stage internal drug discovery programs, validating targets, and testing potentially licensable or transactable external drug compounds to identify drug candidates for partnering and/or internal clinical development.

Except where specifically noted or the context otherwise requires, references to “VivoSim” and “the Company” in these notes to the unaudited condensed consolidated financial statements refers to VivoSim Labs, Inc. and its wholly owned subsidiaries, Organovo, Inc., and VivoSim, Inc.

Stockholders' Equity - Stock-based Compensation Expense and Valuation Information - Additional Information (Details) $ in Millions	3 Months Ended
	Jun. 30, 2026 USD ($)
Class Of Stock [Line Items]
Total unrecognized compensation cost related to unvested stock option grants	$ 0.5
Employee Stock Option Member
Class Of Stock [Line Items]
Total unrecognized compensation cost related, weighted average period	2 years 6 months 29 days
Restricted stock units (RSUs) [Member]
Class Of Stock [Line Items]
Total unrecognized compensation cost related, weighted average period	6 months 29 days
Restricted stock units (RSUs) [Member] \| Maximum [Member]
Class Of Stock [Line Items]
Unrecognized compensation cost	$ 0.1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Stockholders' Equity - Summary of Warrant Activity (Details)	3 Months Ended
	Jun. 30, 2026 $ / shares shares
2026 Pre-Funded Warrants [Member]
Class of Warrant or Right [Line Items]
Number of Warrants, Outstanding, Beginning Balance \| shares	2,345,022
Number of Warrants, Issued \| shares	0
Number of Warrants, Exercised \| shares	(300,000)
Number of Warrants, Outstanding, Ending Balance \| shares	2,045,022
Exercise Price, Outstanding, Beginning Balance \| $ / shares	$ 0.001
Exercise Price, Issued \| $ / shares	0
Exercise Price, Exercised \| $ / shares	0.001
Exercise Price, Outstanding, Ending Balance \| $ / shares	$ 0.001
2024 Common Warrants [Member]
Class of Warrant or Right [Line Items]
Number of Warrants, Outstanding, Beginning Balance \| shares	539,060
Number of Warrants, Issued \| shares	0
Number of Warrants, Exercised \| shares	0
Number of Warrants, Outstanding, Ending Balance \| shares	539,060
Exercise Price, Outstanding, Beginning Balance \| $ / shares	$ 9.6
Exercise Price, Issued \| $ / shares	0
Exercise Price, Exercised \| $ / shares	0
Exercise Price, Outstanding, Ending Balance \| $ / shares	$ 9.6
2026 Common Warrants [Member]
Class of Warrant or Right [Line Items]
Number of Warrants, Outstanding, Beginning Balance \| shares	3,947,369
Number of Warrants, Issued \| shares	0
Number of Warrants, Exercised \| shares	0
Number of Warrants, Outstanding, Ending Balance \| shares	3,947,369
Exercise Price, Outstanding, Beginning Balance \| $ / shares	$ 1.71
Exercise Price, Issued \| $ / shares	0
Exercise Price, Exercised \| $ / shares	0
Exercise Price, Outstanding, Ending Balance \| $ / shares	$ 1.71
Placement Agent Warrants [Member]
Class of Warrant or Right [Line Items]
Number of Warrants, Outstanding, Beginning Balance \| shares	131,579
Number of Warrants, Issued \| shares	0
Number of Warrants, Exercised \| shares	0
Number of Warrants, Outstanding, Ending Balance \| shares	131,579
Exercise Price, Outstanding, Beginning Balance \| $ / shares	$ 1.43
Exercise Price, Issued \| $ / shares	0
Exercise Price, Exercised \| $ / shares	0
Exercise Price, Outstanding, Ending Balance \| $ / shares	$ 1.43

Unaudited Condensed Consolidated Statements of Operations and Other Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Revenues
Total Revenues	$ 18	$ 37
Research and development expenses	1,132	1,001
Selling, general and administrative expenses	1,645	1,951
Total costs and expenses	2,777	2,952
Loss from Operations	(2,759)	(2,915)
Other Income (Expense)
Gain on change in fair value of common stock warrant liabilities	1,400	0
Interest income	28	76
Interest expense	(4)	(4)
Total Other Income	1,424	72
Income Tax Expense	(3)	0
Net Loss	(1,338)	(2,843)
Comprehensive Loss	$ (1,338)	$ (2,843)
Net loss per common share basic	$ (0.25)	$ (1.14)
Net loss per common share diluted	$ (0.25)	$ (1.14)
Weighted average shares used in computing net loss per common share basic	5,239,462	2,503,697
Weighted average shares used in computing net loss per common share diluted	5,239,462	2,503,697
Royalty Revenue [Member]
Revenues
Total Revenues	$ 18	$ 37

Business Segment Information

3 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Business Segment Information

Note 10. Business Segment Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated on a regular basis by the Chief Operating Decision Maker ("CODM") in deciding how to allocate resources to an individual segment and in assessing performance. The Company identified one operating segment in fiscal 2027, named the R&D segment, which did not impact prior periods. During fiscal 2027, the Company's operating segment was as follows:

Research & Development

The R&D segment focuses on providing testing of drugs and drug candidates in 3D human tissue models of liver and intestine, offering partners liver and intestinal toxicology insights using its NAM models. The Company plans to work with pharmaceutical and biotech companies at all stages of drug development to reduce the significant risk and cost of bringing therapeutics to market through the regulatory process and offer bespoke services in the areas of investigational toxicology, mechanism of drug action elucidation, and other applications of these complex human tissue models.

For purposes of evaluating performance and allocating resources, the Company’s CODM, its Executive Chairman, regularly reviews Consolidated Operating Loss as reported in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Loss as compared to budget. The measure of segment assets is reported in the Condensed Consolidated Balance Sheets as Total Consolidated Assets.


	Three Months Ended			Three Months Ended
	June 30, 2026			June 30, 2025
Revenue
Royalty revenue	$	18		$	37
Total revenue		18			37
Operating expenses
Research and development expenses (a)(b)		1,082			932
Selling, general, and administrative expenses (a)(b)		1,564			1,881
Non-cash stock-based compensation (see Note 4)		91			78
Depreciation and amortization		40			61
Total operating expense	$	2,777		$	2,952
Consolidated operating loss	$	(2,759	)	$	(2,915	)

- Definition

The entire disclosure for segment reporting.

+ References

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+ Details

Stockholders' Equity - Common Stock - Additional Information (Details) - USD ($)							3 Months Ended
	Jul. 17, 2026	Jun. 30, 2026	Apr. 01, 2026	Mar. 31, 2026	Aug. 05, 2024	May 08, 2024	Jun. 30, 2026	Jun. 30, 2025	Oct. 12, 2022	Apr. 11, 2025	Feb. 26, 2025	Jan. 26, 2024	Jul. 25, 2022	Feb. 28, 2022	Mar. 31, 2021
Class Of Stock [Line Items]
Proceeds from issuance of common stock, net							$ 0	$ 1,811,000
Number of shares subject to outstanding		269,914		261,084			269,914
Common Warrants [Member]
Class Of Stock [Line Items]
Issuance of warrants	4,705,883	429,836			130,202		429,836
Stock offering price per share	$ 0.85	$ 1.14			$ 9.6		$ 1.14
Warrants exercise price per share		$ 1.71		$ 1.71			1.71
Warrant expiration period				5 years
Pre-Funded Warrants [Member]
Class Of Stock [Line Items]
Issuance of common stock	4,705,883
Issuance of common stock	4,705,883
Warrants exercise price per share				$ 0.001
2026 Common Warrants [Member]
Class Of Stock [Line Items]
Accompanying warrants issued		3,517,533
Warrants exercise price per share		$ 1.71		$ 1.71			$ 1.71
Pre-funded warrants exercised							0
Warrant activity		3,947,369		3,947,369			3,947,369
Placement Agent Warrants [Member]
Class Of Stock [Line Items]
Warrants exercise price per share		$ 1.43		$ 1.43			$ 1.43
Pre-funded warrants exercised							0
Warrant activity		131,579		131,579			131,579
2021 Inducement Equity Plan [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued															62,500
Inducement Award Agreements [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued														4,166
Equity Incentive Plan 2022 [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued									113,583				62,500
Stock offering price per share									$ 33
Equity Incentive Plan 2022 [Member] \| Common Stock [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued													4,166
Equity Incentive Plan 2012 [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued									103,062
Common stock shares issued									10,521
2022 Inducement Equity Plan [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued									83
A&R 2022 Plan [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued									147,916
Maximum [Member] \| Equity Incentive Plan 2022 [Member] \| Common Stock [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued									4,250
2024 Shelf [Member]
Class Of Stock [Line Items]
Securities authorized for offer and sale, amount												$ 150,000,000
Common stock value reserved for future issuance		$ 140,100,000					$ 140,100,000
2021 and 2024 ATM Prospectus [Member]
Class Of Stock [Line Items]
Value of shares sold under equity distribution agreement							$ 6,900,000
IPO [Member] \| Common Warrants [Member]
Class Of Stock [Line Items]
Issuance of common stock					416,666
Issuance of common stock					416,666
IPO [Member] \| Maximum [Member] \| Common Warrants [Member]
Class Of Stock [Line Items]
Issuance of warrants					416,666
At-The-Market Facility [Member]
Class Of Stock [Line Items]
Issuance of common stock							0
Issuance of common stock							0
At-The-Market Facility [Member] \| 2024 ATM Prospectus [Member]
Class Of Stock [Line Items]
Common stock value reserved for future issuance		$ 3,100,000					$ 3,100,000
Issuance of common stock							1,198,134
Issuance of common stock							1,198,134
At-The-Market Facility [Member] \| 2024 ATM Prospectus [Member] \| Maximum [Member]
Class Of Stock [Line Items]
Common stock value reserved for future issuance										$ 4,766,105	$ 5,311,508	$ 2,605,728
2026 Offering [Member]
Class Of Stock [Line Items]
Issuance of common stock		286,557		286,557
Issuance of common stock		286,557		286,557
Net proceeds from issuance of offerings			$ 2,400,000
Gross proceeds received							$ 3,000,000
2026 Offering [Member] \| Common Warrants [Member]
Class Of Stock [Line Items]
Issuance of warrants				429,836
Stock offering price per share				$ 1.14
Warrants exercise price per share				$ 1.71
2026 Offering [Member] \| Pre-Funded Warrants [Member]
Class Of Stock [Line Items]
Issuance of common stock				2,345,022
Stock offering price per share				$ 1.139
Issuance of common stock				2,345,022
2026 Offering [Member] \| 2026 Common Warrants [Member]
Class Of Stock [Line Items]
Accompanying warrants issued				429,836
2026 Offering [Member] \| 2026 Common Warrants [Member]
Class Of Stock [Line Items]
Issuance of common stock				3,517,533
Accompanying warrants issued		429,836
Issuance of common stock				3,517,533
2026 Offering [Member] \| Placement Agent Warrants [Member]
Class Of Stock [Line Items]
Issuance of common stock		131,579		131,579
Issuance of warrants		131,579		131,579			131,579
Issuance of common stock		131,579		131,579
Warrants exercise price per share		$ 1.425		$ 1.425			$ 1.425
2026 Offering [Member] \| Joseph Gunnar & Co. LLC [Member]
Class Of Stock [Line Items]
Cash fee percentage of aggregate gross proceeds raised in offering						7.50%
2026 Offering [Member] \| Common Stock [Member] \| Common Warrants [Member]
Class Of Stock [Line Items]
Warrants exercise price per share				$ 0.01
2026 Offering [Member] \| Maximum [Member] \| 2026 Common Warrants [Member]
Class Of Stock [Line Items]
Issuance of warrants				3,517,533
2026 Offering [Member] \| Maximum [Member] \| Common Stock [Member] \| Common Warrants [Member]
Class Of Stock [Line Items]
Warrants exercise price per share				$ 0.01

Stockholders' Equity - Preferred Stock - Additional Information (Details)	Jun. 30, 2026 shares
Equity [Abstract]
Preferred stock, shares authorized	25,000,000
Preferred stock, shares outstanding	0

- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

+ References + Details

- Definition

Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
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-Section 50
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

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+ Details

Leases - Additional Information (Details)			3 Months Ended
Leases - Additional Information (Details)	Nov. 17, 2021 ft²	Nov. 23, 2020 USD ($) ft²	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Mar. 31, 2026 USD ($)	Dec. 17, 2021 USD ($)
Operating Lease [Line Items]
Operating lease, liability			$ 316,000			$ 2,300,000
Operating lease right-of-use assets			287,000		$ 407,000	$ 2,300,000
Variable lease expense			36,000	$ 39,000
Rent expense			126,000	126,000
Operating cash flows from operating leases			$ 138,000	$ 134,000
San Diego Permanent Lease [Member]
Operating Lease [Line Items]
Lab and Office space under lease agreement \| ft²	2,892	8,051
Lease term		62 months
Monthly rental payments		$ 40,800
Base rent escalators		3.00%

Leases - Schedule of Lease Liabilities and Corresponding Right-of-use Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026	Dec. 17, 2021
Assets
Operating lease right-of-use assets	$ 287
Total lease right-of-use assets	287	$ 407	$ 2,300
Current Liabilities
Operating lease liability, current portion	316	$ 447
Noncurrent
Operating lease liability, net of current portion	0
Total lease liabilities	$ 316		$ 2,300
Weighted average remaining lease term (years):	6 months 29 days
Weighted average discount rate:	6.00%

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Mar. 31, 2026
Current Assets
Cash and cash equivalents	$ 1,670,000	$ 5,024,000
Accounts receivable	29,000	32,000
Escrow receivable	1,016,000	1,014,000
Prepaid expenses and other current assets	511,000	557,000
Total current assets	3,226,000	6,627,000
Fixed assets, net	189,000	206,000
Restricted cash	143,000	143,000
Operating lease right-of-use assets	287,000	407,000
Prepaid expenses and other assets, net	2,000	3,000
Total assets	3,847,000	7,386,000
Current Liabilities
Accounts payable	621,000	1,021,000
Accrued expenses	738,000	981,000
Insurance premium financing liability	0	118,000
Liability to be settled in equity	218,000	218,000
Operating lease liability, current portion	316,000	447,000
Total current liabilities	1,893,000	2,785,000
Common stock warrant liabilities	4,300,000	5,700,000
Total liabilities	6,193,000	8,485,000
Commitments and Contingencies (Note 6)
Stockholders' Deficit
Common stock, $0.001 par value; 200,000,000 shares authorized, 3,194,295 and 2,894,519 shares issued and outstanding at June 30, 2026 and March 31, 2026, respectively	3,000	3,000
Additional paid-in capital	354,989,000	354,898,000
Accumulated deficit	(357,338,000)	(356,000,000)
Total stockholders' deficit	(2,346,000)	(1,099,000)
Total Liabilities and Stockholders' Deficit	$ 3,847,000	$ 7,386,000

Stockholders' Equity (Tables)

3 Months Ended

Jun. 30, 2026

Class Of Stock [Line Items]

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity from March 31, 2026 to June 30, 2026:


	Options Outstanding		Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at March 31, 2026		261,084	$	12.40	$	—
Options granted		8,830	$	1.31	$	—
Options cancelled / forfeited		—	$	—	$	—
Options expired		—	$	—	$	—
Outstanding at June 30, 2026		269,914	$	12.03	$	—
Vested and Exercisable at June 30, 2026		61,796	$	39.75	$	—

Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consisted of the following at June 30, 2026:


Common stock issuable pursuant to options outstanding and reserved under the 2012 Plan			27,565
Common stock issuable pursuant to options outstanding and reserved under the A&R 2022 Plan			238,183
Common stock reserved under the A&R 2022 Plan			3,422
Common stock reserved under the ESPP			3,708
Common stock reserved under the 2021 Inducement Equity Plan			83
Common stock issuable pursuant to restricted stock units outstanding under the A&R 2022 Plan			75,000
Common stock issuable pursuant to options outstanding and reserved under the Inducement Plan			4,166
Common stock issuable pursuant to outstanding 2024 Common Warrants			539,060
Common stock issuable pursuant to outstanding 2026 Pre-Funded Warrants			2,045,022
Common stock issuable pursuant to outstanding 2026 Common Warrants			3,947,369
Common stock issuable pursuant to outstanding Placement Agent Warrants			131,579
Total at June 30, 2026			7,015,157

Schedule of Stock-based Compensation Expense

Stock-based compensation expense for all stock-based awards consists of the following (in thousands):


	Three Months Ended		Three Months Ended
	June 30, 2026		June 30, 2025
Research and development	$	14	$	13
General and administrative		77		65
Total	$	91	$	78

Fair Value of Employee Stock Options

The fair value of stock options was estimated at the grant date using the following weighted average assumptions:


	Three Months Ended			Three Months Ended
	June 30, 2026			June 30, 2025
Dividend yield		—			—
Volatility		112.08	%		118.70	%
Risk-free interest rate		4.12	%		4.07	%
Expected life of options	6 years			6 years
Weighted average grant date fair value	$	1.11		$	1.68

Summary of Warrant Activity

The following table summarizes the Company’s activity under the 2024 Common Warrants from March 31, 2026 to June 30, 2026:


	Number of Warrants		Exercise Price
Outstanding at March 31, 2026		539,060	$	9.60
Issued		—		—
Exercised		—		—
Outstanding at June 30, 2026		539,060	$	9.60

The following table summarizes the Company's activity under the 2026 Pre-Funded Warrants, the 2026 Common Warrants, and the Placement Agent Warrants from March 31, 2026 to June 30, 2026:


	2026 Pre-Funded Warrants			Exercise Price		2026 Common Warrants		Exercise Price		Placement Agent Warrants		Exercise Price
Outstanding at March 31, 2026		2,345,022		$	0.001		3,947,369	$	1.71		131,579	$	1.43
Issued		—		$	—		—	$	—		—	$	—
Exercised		(300,000	)	$	0.001		—	$	—		—	$	—
Outstanding at June 30, 2026		2,045,022		$	0.001		3,947,369	$	1.71		131,579	$	1.43


Beginning common stock warrant liability at March 31, 2026	$	5,700
Common warrants issued		—
Common warrants exercised		—
Change in fair value		(1,400	)
Ending common stock warrant liability at June 30, 2026	$	4,300

Summary of Assumptions Used to Determine the Fair Value

the Company's stock price and related volatility assumptions. The assumptions that the Company used to determine the fair value at the reporting date were as follows:


	As of June 30, 2026
Dividend yield		—
Volatility		110.00	%
Risk-free interest rate		4.10	%
Expected life of warrants	4.75 years
Weighted average grant date fair value	$	1.71

Restricted stock units (RSUs) [Member]

Class Of Stock [Line Items]

Summary of Company's RSUs Activity

The following table summarizes the Company’s RSUs activity for the three months ended June 30, 2026:


	Number of Shares		Weighted Average Grant-Date Fair Value
Unvested at March 31, 2026		75,000	$	1.73
Granted		—	$	—
Vested		—	$	—
Cancelled / forfeited		—	$	—
Unvested at June 30, 2026		75,000	$	1.73

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stockholders' Equity - Fair Value of Employee Stock Options (Details) - $ / shares	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]
Dividend yield	0.00%	0.00%
Volatility	112.08%	118.70%
Risk-free interest rate	4.12%	4.07%
Expected life of options	6 years	6 years
Weighted average grant date fair value	$ 1.11	$ 1.68

Stockholders' Equity - Summary of Company's RSUs Activity (Details) - Restricted stock units (RSUs) [Member]	3 Months Ended
	Jun. 30, 2026 $ / shares shares
Class Of Stock [Line Items]
Beginning balance, Unvested, Number of Shares \| shares	75,000
Granted, Number of Shares \| shares	0
Vested, Number of Shares \| shares	0
Canceled / forfeited, Number of Shares \| shares	0
Ending balance, Unvested, Number of Shares \| shares	75,000
Beginning balance, Unvested, Weighted Average Grant-Date Fair Value \| $ / shares	$ 1.73
Granted, Weighted Average Grant-Date Fair Value \| $ / shares	0
Vested, Weighted Average Grant-Date Fair Value \| $ / shares	0
Canceled / forfeited, Weighted Average Grant-Date Fair Value \| $ / shares	0
Ending balance, Unvested, Weighted Average Grant-Date Fair Value \| $ / shares	$ 1.73

Stockholders' Equity - Summary of Stock Option Activity (Details)	3 Months Ended
	Jun. 30, 2026 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Options Outstanding, Beginning balance \| shares	261,084
Granted, Options Outstanding \| shares	8,830
Cancelled / forfeited, Options Outstanding \| shares	0
Expired, Options Outstanding \| shares	0
Options Outstanding, Ending balance \| shares	269,914
Vested and Exercisable, Options Outstanding \| shares	61,796
Weighted-Average Exercise Price, Options Beginning balance \| $ / shares	$ 12.4
Options granted, Weighted-Average Exercise Price \| $ / shares	1.31
Options cancelled / forfeited, Weighted-Average Exercise Price \| $ / shares	0
Options expired, Weighted-Average Exercise Price \| $ / shares	0
Weighted-Average Exercise Price, Options Ending balance \| $ / shares	12.03
Vested and Exercisable, Weighted-Average Exercise Price \| $ / shares	$ 39.75
Aggregate Intrinsic Value, Options Beginning balance \| $	$ 0
Aggregate Intrinsic Value, Options Ending balance \| $	0
Vested and Exercisable, Aggregate Intrinsic Value \| $	$ 0

Stockholders' Equity - Summary of Warrant Activity (Details)	3 Months Ended
	Jun. 30, 2026 $ / shares shares
2026 Pre-Funded Warrants [Member]
Class of Warrant or Right [Line Items]
Number of Warrants, Outstanding, Beginning Balance \| shares	2,345,022
Number of Warrants, Issued \| shares	0
Number of Warrants, Exercised \| shares	(300,000)
Number of Warrants, Outstanding, Ending Balance \| shares	2,045,022
Exercise Price, Outstanding, Beginning Balance \| $ / shares	$ 0.001
Exercise Price, Issued \| $ / shares	0
Exercise Price, Exercised \| $ / shares	0.001
Exercise Price, Outstanding, Ending Balance \| $ / shares	$ 0.001
2024 Common Warrants [Member]
Class of Warrant or Right [Line Items]
Number of Warrants, Outstanding, Beginning Balance \| shares	539,060
Number of Warrants, Issued \| shares	0
Number of Warrants, Exercised \| shares	0
Number of Warrants, Outstanding, Ending Balance \| shares	539,060
Exercise Price, Outstanding, Beginning Balance \| $ / shares	$ 9.6
Exercise Price, Issued \| $ / shares	0
Exercise Price, Exercised \| $ / shares	0
Exercise Price, Outstanding, Ending Balance \| $ / shares	$ 9.6
2026 Common Warrants [Member]
Class of Warrant or Right [Line Items]
Number of Warrants, Outstanding, Beginning Balance \| shares	3,947,369
Number of Warrants, Issued \| shares	0
Number of Warrants, Exercised \| shares	0
Number of Warrants, Outstanding, Ending Balance \| shares	3,947,369
Exercise Price, Outstanding, Beginning Balance \| $ / shares	$ 1.71
Exercise Price, Issued \| $ / shares	0
Exercise Price, Exercised \| $ / shares	0
Exercise Price, Outstanding, Ending Balance \| $ / shares	$ 1.71
Placement Agent Warrants [Member]
Class of Warrant or Right [Line Items]
Number of Warrants, Outstanding, Beginning Balance \| shares	131,579
Number of Warrants, Issued \| shares	0
Number of Warrants, Exercised \| shares	0
Number of Warrants, Outstanding, Ending Balance \| shares	131,579
Exercise Price, Outstanding, Beginning Balance \| $ / shares	$ 1.43
Exercise Price, Issued \| $ / shares	0
Exercise Price, Exercised \| $ / shares	0
Exercise Price, Outstanding, Ending Balance \| $ / shares	$ 1.43