Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Revenues:        
Sublicense fees $ 1,250,000 $ 0 $ 1,250,000 $ 0
Total revenues 1,250,000 0 1,250,000 0
Operating expenses:        
Research and development 1,611,000 806,300 4,042,800 2,835,000
General and administrative 2,276,600 1,335,500 4,907,800 6,514,500
Total operating expenses 3,887,600 2,141,800 8,950,600 9,349,500
Loss from operations (2,637,600) (2,141,800) (7,700,600) (9,349,500)
Other expenses, net:        
Interest expense, net (900) (2,500) (3,700) (769,800)
Change in warrant liability 0 0 0 (1,894,700)
Loss on extinguishment of debt 0 0 0 (26,700,200)
Other income (expense) 0 (2,300) 0 (2,300)
Loss before income taxes (2,638,500) (2,146,600) (7,704,300) (38,716,500)
Income taxes 0 0 (2,400) (2,300)
Net loss (2,638,500) (2,146,600) (7,706,700) (38,718,800)
Accrued dividends on Series B Preferred stock (237,700) (631,300) (1,018,500) (1,459,300)
Deemed dividend on Series B Preferred Units 0 (668,700) (111,100) (1,811,800)
Net loss attributable to common stockholders $ (2,876,200) $ (3,446,600) $ (8,836,300) $ (41,989,900)
Basic and diluted net loss attributable to common stockholders per common share $ (0.34) $ (1.95) $ (1.23) $ (25.45)
Weighted average shares used in computing basic and diluted net loss attributable to common stockholders per common share 8,381,824 1,765,641 7,181,307 1,650,160
Comprehensive loss $ (2,638,500) $ (2,146,600) $ (7,706,700) $ (38,718,800)