Research and Development Expenses
|12 Months Ended|
Mar. 31, 2020
|Research and Development [Abstract]|
|Research and Development Expenses||
We recorded research and development expenses of approximately $13.4 million and $17.1 million in the fiscal years ended March 31, 2020 and 2019, respectively, including approximately $1.4 million and $5.6 million of noncash expense in the fiscal years ended March 31, 2020 and 2019, respectively. Research and development expense is composed of employee compensation expenses, including stock–based compensation, direct project expenses, notably including costs attributable to our AV-101 clinical trial in MDD in both years, as well as other preclinical and nonclinical projects for PH94B, PH10 and AV-101, and costs to maintain and prosecute our intellectual property suite, including new patent applications for AV-101 for various indications. As indicated in Note 9, Capital Stock, research and development expense for the fiscal year ended March 31, 2019 included noncash expense of $4.25 million attributable to the acquisition of the PH94B and PH10 licenses and the PH10 option.
The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef