Annual report pursuant to Section 13 and 15(d)

Research and Development Expenses

v3.21.2
Research and Development Expenses
12 Months Ended
Mar. 31, 2021
Research and Development [Abstract]  
Research and Development Expenses

We recorded research and development expenses of approximately $12.5 million and $13.4 million in the fiscal years ended March 31, 2021 and 2020, respectively, including approximately $0.8 million and $1.4 million of noncash expense in the fiscal years ended March 31, 2021 and 2020, respectively. Research and development expense is composed of employee compensation expenses, including stock–based compensation, direct project expenses, notably including preclinical and nonclinical projects for PH94B, PH10 and AV-101 in both years and costs attributable to our AV-101 clinical trial in MDD in the fiscal year ended March 31, 2020, as well as costs to maintain and prosecute our intellectual property suite, including patent applications for AV-101 in combination with probenecid for various indications in the fiscal year ended March 31, 2021.