0001564590-22-022994 | 10-K | XBRL Viewer

Stockholders' Equity

12 Months Ended

Mar. 31, 2022

Note 5. Stockholders’ Equity

Stock-based compensation expense and valuation information

Stock-based awards include stock options and RSUs under the Amended and Restated 2012 Equity Incentive Plan (“2012 Plan”), inducement awads, performance-based RSUs under an Incentive Award Performance-Based Restricted Stock Unit Agreement, the 2021 Inducement Equity Incentive Plan (“Inducement Plan”), and rights to purchase stock under the ESPP. The Company calculates the grant date fair value of all stock-based awards in determining the stock-based compensation expense.

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

	Year Ended March 31, 2022		Year Ended March 31, 2021
Research and development	$	419	$	105
General and administrative		1,837		5,451
Total	$	2,256	$	5,556

The total unrecognized compensation cost related to unvested stock option grants as of March 31, 2022 was approximately $4,299,000 and the weighted average period over which these grants are expected to vest is 2.34 years.

The total unrecognized stock-based compensation cost related to unvested RSUs (not including performance-based RSUs) as of March 31, 2022 was approximately $159,000, which will be recognized over a weighted average period of 2.84 years.

As of March 31, 2022, there are no participants enrolled into the ESPP for the current purchase period, beginning March 1, 2022.

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

	Year Ended March 31, 2022			Year Ended March 31, 2021
Dividend yield		—			—
Volatility		95.65	%		107.88	%
Risk-free interest rate		1.30	%		0.61	%
Expected life of options	5.75 years			5.81 years
Weighted average grant date fair value	$	4.73		$	6.97

The assumed dividend yield was based on the Company’s expectation of not paying dividends in the foreseeable future. The Company uses its Company-specific historical volatility rate. The risk-free interest rate assumption was based on U.S. Treasury rates. The weighted average expected life of options was estimated using the average of the contractual term and the weighted average vesting term of the options.

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 Company’s ESPP. Stock-based compensation expense is recognized over the purchase period using the straight-line method.

There were no participants in the ESPP for the purchase period September 1, 2021 – February 28, 2022 nor any participants in the ESPP for the current purchase period (beginning March 1, 2022).

The assumed dividend yield was 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 was based on U.S. Treasury rates. The expected life is the 6-month purchase period.

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 present plans to issue shares of preferred stock.

Common stock

In May of 2008, the Board approved the 2008 Equity Incentive Plan (the “2008 Plan”). The 2008 Plan authorized the issuance of up to 76,079 common shares for awards of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock award units, and stock appreciation rights. The 2008 Plan terminated on July 1, 2018. As of March 31, 2022, 44,812 shares under the 2008 Plan have been issued.

In January 2012, the Board approved the 2012 Plan. The 2012 Plan authorized the issuance of up to 327,699 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. The Board and stockholders of the Company approved an amendment to the 2012 Plan in August 2013 to increase the number of shares of common stock that may be issued under the 2012 Plan by 250,000 shares. In August 2015, the Board and stockholders of the Company approved an amendment to the 2012 Plan to further increase the number of shares of common stock that may be issued under the 2012 Plan by 300,000 shares. In July 2018, the Board and stockholders of the Company approved an amendment to the 2012 Plan to further increase the number of shares of common stock that may be issued under the 2012 Plan by 550,000 shares. In October 2021, the Board and stockholders of the Company approved an amendment to the 2012 Plan to further increase the number of shares of common stock that may be issued under the 2012 Plan by 900,000, bringing the aggregate shares issuable under the 2012 Plan to 2,327,699. The 2012 Plan as amended and restated became effective on July 26, 2018 and terminates ten years after such date. As of March 31, 2022, 710,333 shares remain available for issuance under the 2012 Plan.

On April 24, 2017, the Company filed a Registration Statement on Form S-8 with the Securities and Exchange Commission (the “SEC”) authorizing the issuance of 114,852 shares of the Company’s common stock, pursuant to the terms of an Inducement Award Stock Option Agreement and an Inducement Award Performance-Based Restricted Stock Unit Agreement (collectively, the “2017 Inducement Award Agreements”).

On August 14, 2018, the Company filed a Registration Statement on Form S-8 with the SEC authorizing the issuance of 56,770 shares of the Company’s common stock, pursuant to the terms of an Inducement Award Stock Option Agreement and an Inducement Award Restricted Stock Unit Agreement (collectively, the “2018 Inducement Award Agreements” and, together with the 2017 Inducement Award Agreements the “Inducement Award Agreements”).

In March 2021, the Board approved the Inducement Plan. The Inducement Plan authorized the issuance of up to 750,000 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, 50,000 incentive stock options were issued under the Inducement Plan. As of March 31, 2022, 700,000 shares remain available for issuance under the Inducement Plan.

The Company previously had an effective shelf registration statement on Form S-3 (File No. 333-222929) and the related prospectus supplement previously declared effective by the SEC on February 22, 2018 (the “2018 Shelf”), which registered $100.0 million of common stock, preferred stock, warrants and units, or any combination of the foregoing, that was set to expire on February 22, 2021. On January 19, 2021, the Company filed a shelf registration statement on Form S-3 (File No 333-252224) 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 “2021 Shelf”) and a related prospectus. The 2021 Shelf was declared effective by the SEC on January 29, 2021 and replaced the 2018 Shelf at that time.

On March 16, 2018, the Company entered into a Sales Agreement with H.C. Wainwright & Co., LLC and Jones Trading Institutional Services LLC (each an “Agent” and together, the “Agents”). On January 29, 2021, the Company filed a prospectus supplement to the 2021 Shelf, pursuant to which the Company may offer and sell, from time to time through the Agents, shares of its common stock in at-the-market (“ATM”) sales transactions having an aggregate offering price of up to $50.0 million. Any shares offered and sold will be issued pursuant to the Company’s 2021 Shelf. During the years ended March 31, 2022 and March 31, 2021, the Company issued 27,545 and 1,553,317 shares of common stock, respectively, for net proceeds of $0.3 million and $20.8 million in ATM offerings under the Sales Agreement, respectively. As of March 31, 2022, the Company has sold an aggregate of 1,580,862 shares of common stock in ATM offerings under the Sales Agreement, with gross proceeds of approximately $21.7 million. As of March 31, 2022, there was approximately $100.0 million available in future offerings under the 2021 Shelf (excluding amounts available but not yet issued under the ATM Prospectus Supplement), and approximately $28.3 million available for future offerings through the Company’s ATM program.

During the years ended March 31, 2022 and 2021, the Company issued 0 and 7,800 shares of common stock, respectively, upon exercise of stock options.

Restricted stock units

The following table summarizes the Company’s RSUs (not including performance-based RSUs) activity for the year ended March 31, 2022:

	Number of Shares			Weighted Average Price
Unvested at March 31, 2021		21,057		$	10.79
Granted		-		$	—
Vested		(5,557	)	$	11.38
Cancelled / forfeited		—		$	—
Unvested at March 31, 2022		15,500		$	10.58

Performance-based restricted stock units

On July 2, 2019, the Company issued Performance-Based Restricted Stock Unit Awards (the “PBRSU Retention Awards”) for an aggregate of 301,391 shares of common stock to its management team. The PBRSUs were issued pursuant to the 2012 Plan. The PBRSU Retention Awards were to vest in full upon the earlier of: (i) the Company’s engagement in a pre-IND meeting with the FDA, (ii) twenty-four months from the grant date, or (iii) a change in control. As of March 31, 2022, 111,682 shares were forfeited due to terminations, vesting for 177,480 shares was accelerated due to a change in control that was triggered by changes to the Board in 2020, and the remaining 12,229 shares vested on July 1, 2021, twenty-four months from the grant date, as these particular shares required two of the conditions to be met in order to vest.

The following table summarizes the Company’s performance-based restricted stock unit activity for the year ended March 31, 2022:

	Number of Shares			Weighted Average Price
Unvested at March 31, 2021		12,229		$	9.80
Granted		—		$	—
Vested		(12,229	)	$	9.80
Canceled / forfeited		—		$	—
Unvested at March 31, 2022		—		$	—

Stock options

During the year ended March 31, 2022 under the 2012 Plan, 573,546 stock options were granted at various exercise prices.

On March 8, 2021, the Company granted 120,000 and 25,000 stock options, respectively, to its Executive Chairman and its Chief Scientific Officer under the 2012 Plan. On October 7, 2021, the Company granted an additional 120,000 and 25,000 stock options, respectively, to the aforementioned officers. These stock options have unique vesting criteria based on market conditions, more specifically the Company’s stock price. As these 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 stock options will be expensed over their determined requisite service periods.

On October 7, 2021, the Company granted 60,000 and 15,000 stock options, respectively, to its Executive Chairman and its Chief Scientific Officer under the 2012 Plan. These stock options have unique vesting criteria based on specific Company performance conditions. The vesting criteria for half of these options was relating to the Company recognizing $1.5 million of revenue per year based on three quarters of results, which was achieved on February 22, 2022 (refer to “Note 4. Collaborative Research, Development, and License Agreements” for more information). The remaining unvested options have vesting criteria relating to the Company closing a seven-figure cash up front deal with a major pharmaceutical company. As of March 31, 2022, management estimated there was a 0% probability of achievement, and therefore no expense has been recorded to date.

The following table summarizes stock option activity for the year ended March 31, 2022:

	Options Outstanding			Weighted- Average Exercise Price		Aggregate Intrinsic Value
Outstanding at March 31, 2021		1,004,655		$	20.03	$	856,400
Options granted		573,546		$	6.04	$	—
Options canceled		(374,530	)	$	39.31	$	—
Options exercised		—		$	—	$	—
Outstanding at March 31, 2022		1,203,671		$	7.36	$	71,650
Vested and Exercisable at March 31, 2022		240,493		$	7.69	$	—

The weighted-average remaining contractual term of stock options exercisable and outstanding at March 31, 2022 was approximately 8.72 years.

Employee Stock Purchase Plan

In June 2016, the Board, and in August 2016, its stockholders subsequently approved, the ESPP. The Company reserved 75,000 shares of common stock for issuance thereunder. The ESPP permits employees after five months of service 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 500 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 period commenced in September 2016. During the year ended March 31, 2022, no shares were issued under the ESPP. At March 31, 2022, there were 59,435 shares remaining available for the purchase under the ESPP.

Common stock reserved for future issuance

Common stock reserved for future issuance consisted of the following at March 31, 2022:

Common stock issuable pursuant to options outstanding and reserved under the 2012 Plan			1,153,671
Common stock reserved under the 2012 Plan			710,333
Common stock reserved under the ESPP			59,435
Common stock reserved under the 2021 Inducement Equity Plan			700,000
Common stock issuable pursuant to restricted stock units outstanding under the 2012 Plan			15,500
Common stock issuable pursuant to options outstanding and reserved under the Inducement Plan			50,000
Total at March 31, 2022			2,688,939

Related Parties - Additional Information (Detail) - Viscient [Member] - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Related Party Transaction [Line Items]
Consulting expenses	$ 47,000	$ 38,000
Histology services to related parties	$ 48,000	$ 0

Collaborative Research, Development, and License Agreements (Tables)

12 Months Ended

Mar. 31, 2022

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Capitalized License Fees

Capitalized license fees consisted of the following (in thousands):

	March 31, 2022			March 31, 2021
License fees	$	218		$	218
Less accumulated amortization		(124	)		(109	)
License fees, net	$	94		$	109

Leases - Schedule of Lease Liabilities and Corresponding Right-of-use Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 17, 2021	Mar. 31, 2021
Assets
Operating lease right-of-use assets	$ 2,153
Total lease right-of-use assets	2,153	$ 2,300	$ 0
Current Liabilities
Operating lease liability, current portion	479		0
Noncurrent
Operating lease liability, net of current portion	1,704		$ 0
Total lease liabilities	$ 2,183	$ 2,300
Weighted average remaining lease term:	4 years 9 months 29 days
Weighted average discount rate:	6.00%

Leases - Additional Information (Details)			12 Months Ended		22 Months Ended
Leases - Additional Information (Details)	Nov. 17, 2021 ft²	Nov. 23, 2020 USD ($) ft² Agreement	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Jul. 31, 2021 USD ($)	Dec. 17, 2021 USD ($)
Operating Lease [Line Items]
Monthly rental payments					$ 4,000
Number of lease agreement \| Agreement		2
Operating lease, liability			$ 2,183,000			$ 2,300,000
Operating lease right-of-use assets			2,153,000	$ 0		$ 2,300,000
Rent expense			18,000	50,000
Variable lease expense			59,000	13,000
Short term lease cost			117,000	54,000
Operating Lease, Expense			172,000	$ 0
Operating cash flows from operating leases			$ 183,000
San Diego Temporary Lease [Member]
Operating Lease [Line Items]
Lab and Office space under lease agreement \| ft²		3,212
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		$ 40,900
Base rent escalators		3.00%

Stockholders' Equity - Stock Options and Employee Stock Purchase Plan - Additional Information (Detail) - USD ($)				12 Months Ended
	Feb. 22, 2022	Oct. 07, 2021	Mar. 08, 2021	Mar. 31, 2022	Mar. 31, 2021
Class Of Stock [Line Items]
Revenue recognized	$ 1,500,000			$ 1,500,000	$ 0
Vesting criteria probability of achievement percentage				0.00%
Expense recorded				$ 0
Weighted-average remaining contractual term of stock options exercisable				8 years 8 months 19 days
Weighted-average remaining contractual term of stock options outstanding				8 years 8 months 19 days
Number of common stock shares approved under ESPP				2,688,939
Expected life of options				5 years 9 months	5 years 9 months 21 days
Aforementioned Officer One [Member]
Class Of Stock [Line Items]
Stock options granted		120,000,000
Aforementioned Officer Two [Member]
Class Of Stock [Line Items]
Stock options granted		25,000,000
2012 Plan [Member]
Class Of Stock [Line Items]
Stock options granted				573,546
2012 Plan [Member] \| Executive Chairman [Member]
Class Of Stock [Line Items]
Stock options granted		60,000	120,000
2012 Plan [Member] \| Chief Scientific Officer [Member]
Class Of Stock [Line Items]
Stock options granted		15,000	25,000
ESPP [Member]
Class Of Stock [Line Items]
Number of common stock shares approved under ESPP				75,000
Employee subscription rate				15.00%
Compensation amount per employee				$ 25,000
Number of shares per employee				500
Fair market value at discount				85.00%
Purchase period				6 months
Initial offering period				2016-09
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.
Expected life of options				6 months
Shares issued under ESPP				0
Shares remaining available for purchase under ESPP				59,435

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Payables And Accruals [Abstract]
Accrued compensation	$ 434	$ 378
Accrued legal and professional fees	27	31
Other accrued expenses	28	31
Accrued expenses	$ 489	$ 440

Stockholders' Equity - Summary of Stock Option Activity (Detail)	12 Months Ended
	Mar. 31, 2022 USD ($) $ / shares shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options Outstanding, Beginning balance	1,004,655
Granted, Options Outstanding	573,546
Canceled, Options Outstanding	(374,530)
Stock option exercises, Shares	0
Options Outstanding, Ending balance	1,203,671
Vested and Exercisable, Options Outstanding	240,493
Weighted-Average Exercise Price, Options Beginning balance \| $ / shares	$ 20.03
Options granted, Weighted-Average Exercise Price \| $ / shares	6.04
Options canceled, Weighted-Average Exercise Price \| $ / shares	39.31
Weighted-Average Exercise Price, Options Ending balance \| $ / shares	7.36
Vested and Exercisable, Weighted-Average Exercise Price \| $ / shares	$ 7.69
Aggregate Intrinsic Value, Options Beginning balance \| $	$ 856,400
Options Exercised, Aggregate Intrinsic Value \| $	0
Aggregate Intrinsic Value, Options Ending balance \| $	71,650
Vested and Exercisable, Aggregate Intrinsic Value \| $	$ 0

Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 28,675,000	$ 37,364,000
Restricted cash	143,000	111,000
Accumulated deficit	(307,739,000)	(296,291,000)
Cash flow from operations	$ 8,453,000	$ 13,323,000
Issuance of common stock	8,710,627	8,670,492
Proceeds from sale of common stock shares	$ 251,000	$ 23,798,000
Restricted cash	$ 100,000	100,000
Estimated useful life of the fixed assets	The estimated useful lives of the fixed assets range between one and seven years.
Impairment of long-lived assets	$ 0	0
Dilutive effect	$ 0	$ 0
Common stock equivalents excluded from computing diluted net loss per share	1,200,000	1,000,000.0
Maximum [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Maturity of highly liquid investment	90 days
Useful life of fixed assets, range	7 years
Minimum [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Useful life of fixed assets, range	1 year
At-The-Market Facility [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Issuance of common stock	27,545
Proceeds from sale of common stock shares	$ 300,000

Collaborative Research, Development, and License Agreements

12 Months Ended

Mar. 31, 2022

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Collaborative Research, Development, and License Agreements

Note 4. Collaborative Research, Development, and License Agreements

License Agreements

From June 2021 to February 2022, certain patents owned or sublicensed by the Company became the subject of IPR proceedings filed by Cellink AB and its subsidiaries, MatTek Incorporated and Visikol, Inc. (collectively, “BICO Group AB”). The Company and BICO Group AB were also engaged in litigation regarding patent infringement during the same time period. On February 22, 2022, the Company and BICO Group AB signed a settlement and patent license agreement (“License Agreement”) to close all matters noted above. In addition to closing all legal matters and patent disputes noted above, as part of the agreement, 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. The Company concluded that the nature of the license granted represents functional intellectual property.

As part of the License Agreement, BICO Group AB agreed to pay the Company a one time, nonrefundable upfront fee of $1,500,000. Based on Topic 606, the Company concluded that the performance obligation related to this upfront fee consisted of the Company filing stipulations of dismissal of all legal matters noted above, as well as the Company granting the non-exclusive license of the aforementioned patents within five days of receiving the upfront payment. The conditions of the performance obligation were satisfied, and therefore the Company recognized revenue of $1,500,000 on February 22, 2022, the executed date of the License Agreement.

Additionally, as part of the License Agreement, BICO Group AB agreed to pay the Company ongoing sales-based royalties (based on percentages of BICO Group AB’s net sales) for the use of the granted license. The sales-based royalties became effective beginning on February 22, 2022, the effective date of the License Agreement, and continue 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. However, after analyzing all available information, the Company concluded that there are constraints on the estimates of variable consideration because there is a lack of complete and accurate information available. As the License Agreement was executed close to the end of the fiscal year, BICO Group AB was unable to timely deliver complete sales reports by product as stipulated in the License Agreement. Therefore, the Company concluded that there is a risk of significant reversal when the uncertainty associated with the variable consideration is resolved. For the year ended March 31, 2022, the Company recorded no royalty revenue based on sales-based royalties from the License Agreement.

Also as part of the License Agreement, certain patents involved in the agreement are sublicensed by the Company from the University of Missouri and Clemson University. See below for further information.

University of Missouri

In March 2009, the Company entered into a license agreement with the Curators of the University of Missouri to in-license certain technology and intellectual property relating to self-assembling cell aggregates and to intermediate cellular units. The Company received the exclusive worldwide rights to commercialize products comprising this technology for all fields of use. The Company is required to pay the University of Missouri royalties ranging from 1% to 3% of net sales of covered tissue products, and of the fair market value of covered tissues transferred internally for use in the Company’s commercial service business, depending on the level of net sales achieved by the Company each year. The Company paid minimum annual royalties of $25,000 in January 2022 and January 2021 for their respective calendar years, which is credited against royalties due during the subsequent twelve months. No payments have been made in excess of the minimum annual royalties in the years ended March 31, 2022 and 2021. The license agreement terminates upon expiration of the patents licensed and is subject to certain conditions as defined in the license agreement, which is expected to expire after 2029.

The license agreement with the University of Missouri also includes an additional sales royalty of 3% of all revenue received from a sublicensee, when such sublicense is entered pursuant to settlement of litigation. Such revenue shall include, but not be limited to, all option fees, license issue fees (up-front payments), license maintenance fees, equity, and all royalty payments. Such revenue shall not include research funding provided to licensee by sublicensee. However, per the agreement, in the event that the Company defends the technology by litigation, it can offset any royalties due by legal expenses incurred. As of March 31, 2022, the Company’s legal expenses exceeded royalties owed from the upfont payment related to the License Agreement. Therefore, no royalty expense to the University of Missouri was recorded for the year ended March 31, 2022. Additionally, as no royalty revenue for sales-based royalties was recorded for the year ended March 31, 2022, no corresponding royalty expense was recorded.

Clemson University

In May 2011, the Company entered into a license agreement with Clemson University Research Foundation to in-license certain technology and intellectual property relating to ink-jet printing of viable cells. The Company received the exclusive worldwide rights to commercialize products comprising this technology for all fields of use. The Company is required to pay the university royalties ranging from 1.5% to 3% of net sales of covered tissue products and the fair market value of covered tissues transferred internally for use in the Company’s commercial service business, depending on the level of net sales reached each year. The license agreement terminates upon expiration of the patents licensed, which are expected to expire in May 2024, and is subject to certain conditions as defined in the license agreement. Minimum annual royalty payments of $20,000 were due for each of the two years beginning with calendar 2014, and $40,000 per year beginning with calendar 2016. Royalty payments of $40,000 were made in each of the years ended March 31, 2022 and 2021. The annual minimum royalty is creditable against royalties owed during the same calendar year.

In addition to the annual royalties noted above, the University is owed 40% of all payments including but not limited to, upfront payments, license fees, issue fees, maintenance fees, and milestone payments received from third parties, including sublicensees, in consideration for sublicensing rights to licensed products. However, per the agreement, in the event that the Company defends the technology by litigation, it can offset any royalties due by legal expenses incurred. As of March 31, 2022, the Company’s legal expenses exceeded royalties owed from the upfont payment related to the License Agreement. Therefore, no royalty expense to Clemson University was recorded for the year ended March 31, 2022. Additionally, as no royalty revenue for sales-based royalties was recorded for the year ended March 31, 2022, no corresponding royalty expense was recorded.

Capitalized license fees consisted of the following (in thousands):

	March 31, 2022			March 31, 2021
License fees	$	218		$	218
Less accumulated amortization		(124	)		(109	)
License fees, net	$	94		$	109

The above license fees, net of accumulated amortization, are included in Other Assets in the accompanying consolidated balance sheets and are being amortized over the life of the related patents. Amortization expense of licenses was approximately $14,000 for each of the years ended March 31, 2022 and 2021. At March 31, 2022, the weighted average remaining amortization period for all licenses was approximately 8 years. The annual amortization expense of licenses for the next five years is estimated to be approximately $14,000 per year.

Accrued Expenses

12 Months Ended

Mar. 31, 2022

Payables And Accruals [Abstract]

Accrued Expenses

Note 3. Accrued Expenses

Accrued expenses consisted of the following (in thousands):

	March 31, 2022		March 31, 2021
Accrued compensation	$	434	$	378
Accrued legal and professional fees		27		31
Other accrued expenses		28		31
	$	489	$	440

Stockholders' Equity - Common Stock - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Feb. 28, 2022	Oct. 31, 2021	Jan. 29, 2021	Jan. 19, 2021	Aug. 14, 2018	Jul. 31, 2018	Apr. 24, 2017	Aug. 31, 2015	Aug. 31, 2013	Jan. 31, 2012	May 31, 2008
Class Of Stock [Line Items]
Securities authorized for offer and sale, amount						$ 150,000,000.0
Issuance of common stock from stock options exercises, net, Shares	0	7,800
IPO [Member]
Class Of Stock [Line Items]
Securities authorized for offer and sale, amount	$ 100,000,000.0
At The Market Facility [Member]
Class Of Stock [Line Items]
Common stock value reserved for future issuance	$ 28,300,000
2018 Sales Agreement [Member]
Class Of Stock [Line Items]
Equity sales agreement expiration date	Feb. 22, 2021
Prospectus to 2021 Shelf [Member] \| At The Market Facility [Member] \| Maximum [Member]
Class Of Stock [Line Items]
Common stock value reserved for future issuance					$ 50,000,000.0
2021 Shelf [Member]
Class Of Stock [Line Items]
Common stock value reserved for future issuance	$ 100,000,000.0
2018 Sales Agreement pursuant to 2021 Shelf [Member]
Class Of Stock [Line Items]
Issuance of common stock from stock options exercises, net, Shares	1,580,862
Value of shares sold under equity distribution agreement	$ 21,700,000
2018 Sales Agreement pursuant to 2021 Shelf [Member] \| At The Market Facility [Member]
Class Of Stock [Line Items]
Issuance of common stock from stock options exercises, net, Shares	27,545	1,553,317
Value of shares sold under equity distribution agreement	$ 300,000	$ 20,800,000
Equity Incentive Plan 2008 [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued													76,079
Termination date of equity incentive plan	Jul. 01, 2018
Shares issued during the year	44,812
Equity Incentive Plan 2012 [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued				900,000				550,000		300,000	250,000	327,699
Shares available for issuance	710,333							2,327,699
Termination period of Equity Incentive Plan	10 years
2017 Inducement Award Agreements [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued									114,852
Inducement Award Agreements [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued	700,000		50,000				56,770
2021 Inducement Equity Plan [Member]
Class Of Stock [Line Items]
Common shares authorized to be issued		750,000

Stockholders' Equity - Fair Value of Employee Stock Purchase Plan (Parenthetical) (Detail)	Mar. 31, 2022 Participant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Participants enrolled into the employee stock purchase plan	0
2016 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Participants enrolled into the employee stock purchase plan	0

Stockholders' Equity - Stock-based Compensation Expense and Valuation Information - Additional Information (Detail)	12 Months Ended
	Mar. 31, 2022 USD ($) Participant
Class Of Stock [Line Items]
Total unrecognized compensation cost related to unvested stock option grants	$ 4,299,000
Participants enrolled into the employee stock purchase plan \| Participant	0
Stock options [Member]
Class Of Stock [Line Items]
Total unrecognized compensation cost related, weighted average period	2 years 4 months 2 days
Restricted stock units (RSUs) [Member]
Class Of Stock [Line Items]
Total unrecognized compensation cost related, weighted average period	2 years 10 months 2 days
Unrecognized stock-based compensation expense	$ 159,000

Fixed Assets (Tables)

12 Months Ended

Mar. 31, 2022

Property Plant And Equipment [Abstract]

Schedule of Fixed Assets

Fixed assets consisted of the following (in thousands):

	March 31, 2022			March 31, 2021
Laboratory equipment	$	1,171		$	978
Furniture and fixtures		38			—
Computer software and equipment		524			405
Fixed Assets, gross		1,733			1,383
Less accumulated depreciation		(1,071	)		(1,002	)
Fixed Assets, net	$	662		$	381

Collaborative Research, Development, and License Agreements - Additional Information (Detail) - USD ($)		1 Months Ended						12 Months Ended
	Feb. 22, 2022	Mar. 31, 2022	Jan. 31, 2022	Mar. 31, 2021	Jan. 31, 2021	May 31, 2011	Mar. 31, 2009	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total Revenues	$ 1,500,000							$ 1,500,000	$ 0
Licensing Agreements [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Amortization expense of licenses								$ 14,000	14,000
Weighted average remaining amortization period for all licenses								8 years
Annual amortization expense of licenses year 1		$ 14,000						$ 14,000
Annual amortization expense of licenses year 2		14,000						14,000
Annual amortization expense of licenses year 3		14,000						14,000
Annual amortization expense of licenses year 4		14,000						14,000
Annual amortization expense of licenses year 5		14,000						14,000
BICO Group AB [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Nonrefundable upfront fee paid	1,500,000
Total Revenues	$ 1,500,000							0
University of Missouri [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total Revenues								0
Royalty fees percentage minimum							1.00%
Royalty fees percentage maximum							3.00%
Minimum annual royalty paid			$ 25,000		$ 25,000
Excess of minimum annual royalties payment		$ 0		$ 0
Expected expiration year of license agreement							2029
Upfront payment								0
Additional upfront payment								$ 0
University of Missouri [Member] \| Sublicense Agreements [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Percentage of royalty revenue from sublicensee								3.00%
Clemson University [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total Revenues								$ 0
Minimum annual royalty paid								40,000	$ 40,000
Upfront payment								0
Additional upfront payment								$ 0
Minimum annual royalty payment due										$ 40,000	$ 20,000	$ 20,000
Clemson University [Member] \| Sublicense Agreements [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Percentage of royalty revenue from sublicensee								40.00%
Clemson University [Member] \| Licensing Agreements [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Royalty fees percentage minimum						1.50%
Royalty fees percentage maximum						3.00%
Expected expiration year of license agreement						2024-05

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events

Concentrations

12 Months Ended

Mar. 31, 2022

Risks And Uncertainties [Abstract]

Concentrations

Note 9. Concentrations

Credit risk and significant customers

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of temporary cash investments. The Company maintains cash balances at various financial institutions located within the United States. Accounts at these institutions are secured by the Federal Deposit Insurance Corporation. Balances may exceed federally insured limits. The Company has not experienced losses in such accounts, and management believes that the Company is not exposed to any significant credit risk with respect to its cash and cash equivalents.

The Company is also potentially subject to concentrations of credit risk in its revenues and accounts receivable. Because it is in the early commercial stage, the Company’s revenues to date have been derived from a relatively small number of customers and collaborators. However, the Company has not historically experienced any accounts receivable write-downs and management does not believe significant credit risk exists as of March 31, 2022.

Fixed Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property Plant And Equipment [Abstract]
Depreciation expense	$ 128,000	$ 27,000

Leases

12 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

Note 6. Leases

After the initial adoption of 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 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

From October 2019 to July 2021, the Company rented office space in Solana Beach, California. This agreement was a month-to-month contract and could be terminated at-will by either party at any time. As such, the Company concluded that this agreement did not contain a lease and was expensed as incurred (referred to as “rent expense”). Monthly rental payments were approximately $4,000 per month.

On November 23, 2020, the Company entered into two lease agreements, pursuant to which the Company temporarily leased approximately 3,212 square feet of lab and office space (the “Temporary Lease”) in San Diego and permanently leased approximately 8,051 square feet of office space (the “Permanent Lease”) in San Diego once certain tenant improvements for the Company’s permanent premises 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 Temporary Lease commenced on November 27, 2020 and served as temporary premises until the Permanent Lease was ready for occupancy. 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 are approximately $40,900 with 3% annual escalators.

The Company determined that the Temporary Lease is considered a short term lease under ASC 842 and therefore elected an accounting policy for short term leases to recognize lease payments as an expense on a straight-line basis over the lease term (referred to as “short term lease expense”). Variable lease expenses related to the short term lease, such as payments for additional monthly fees to cover the Company’s share of certain facility expenses (common area maintenance, or CAM) are expensed as incurred.

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 aggregates all lease and non-lease components for each class of underlying assets into a single lease component. As the Permanent Lease did not have a discount rate implicit in the lease, the Company estimated its incremental borrowing rate to discount the lease payments based on information available at the lease commencement. 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, or CAM) are expensed as incurred.

The table below summarizes the Company’s lease liabilities and corresponding right-of-use assets as of March 31, 2022 (in thousands):

	March 31, 2022
ASSETS
Operating lease right-of-use assets	$	2,153
Total lease right-of-use assets	$	2,153

LIABILITIES
Current
Operating lease liability	$	479
Noncurrent
Operating lease liability, net of current portion	$	1,704
Total lease liabilities	$	2,183

Weighted average remaining lease term:	4.83 years
Weighted average discount rate:		6	%

The Company recorded rent expense of approximately $18,000 and $50,000 for the years ended March 31, 2022 and 2021, respectively. Variable lease expense was approximately $59,000 and $13,000 for the years ended March 31, 2022 and 2021, respectively. Short term lease expense was approximately $117,000 and $54,000 for the years ended March 31, 2022 and 2021, respectively. Lastly, operating lease expense was approximately $172,000 and $0 for the years ended March 31, 2022 and 2021, respectively.

Cash outflows associated with the Company’s operating lease for the year ended March 31, 2022 was $183,000.

Future lease payments relating to the Company’s operating lease liabilities as of March, 31, 2022 are as follows (in thousands):

Fiscal year ending March 31, 2023	$	495
Fiscal year ending March 31, 2024		509
Fiscal year ending March 31, 2025		524
Fiscal year ending March 31, 2026		540
Fiscal year ending March 31, 2027		461
Thereafter		—
Total future lease payments		2,529
Less: Imputed Interest		(346	)
Total lease obligations		2,183
Less: Current obligations		(479	)
Noncurrent lease obligations	$	1,704

Stockholders' Equity - Preferred Stock - Additional Information (Detail)	Mar. 31, 2022 shares
Equity [Abstract]
Preferred stock, shares authorized	25,000,000
Preferred stock, shares outstanding	0

Stockholders' Equity - Schedule of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 2,256	$ 5,556
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	419	105
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 1,837	$ 5,451

Related Parties

12 Months Ended

Mar. 31, 2022

Related Parties

Note 10. 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 is an entity for which Keith Murphy, the Company’s Executive Chairman, serves as the Chief Executive Officer and President. Dr. Jeffrey Miner, the Company’s Chief Scientific Officer, is also the Chief Scientific Officer of Viscient, and Thomas Jurgensen, the Company’s General Counsel, previously served as outside legal counsel to Viscient through his law firm, Optima Law Group, APC.

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. 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 years ended March 31, 2022 and 2021, the Company incurred approximately $47,000 and $38,000 in consulting expenses from Viscient, respectively. Additionally, for the years ended March 31, 2022 and 2021, the Company provided approximately $48,000 and $0 of histology services to Viscient, respectively.

Stockholders' Equity (Tables)

12 Months Ended

Mar. 31, 2022

Class Of Stock [Line Items]

Schedule of Stock-based Compensation Expense

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

	Year Ended March 31, 2022		Year Ended March 31, 2021
Research and development	$	419	$	105
General and administrative		1,837		5,451
Total	$	2,256	$	5,556

Fair Value of Employee Stock Options

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

	Year Ended March 31, 2022			Year Ended March 31, 2021
Dividend yield		—			—
Volatility		95.65	%		107.88	%
Risk-free interest rate		1.30	%		0.61	%
Expected life of options	5.75 years			5.81 years
Weighted average grant date fair value	$	4.73		$	6.97

Summary of Stock Option Activity

The following table summarizes stock option activity for the year ended March 31, 2022:

	Options Outstanding			Weighted- Average Exercise Price		Aggregate Intrinsic Value
Outstanding at March 31, 2021		1,004,655		$	20.03	$	856,400
Options granted		573,546		$	6.04	$	—
Options canceled		(374,530	)	$	39.31	$	—
Options exercised		—		$	—	$	—
Outstanding at March 31, 2022		1,203,671		$	7.36	$	71,650
Vested and Exercisable at March 31, 2022		240,493		$	7.69	$	—

Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consisted of the following at March 31, 2022:

Common stock issuable pursuant to options outstanding and reserved under the 2012 Plan			1,153,671
Common stock reserved under the 2012 Plan			710,333
Common stock reserved under the ESPP			59,435
Common stock reserved under the 2021 Inducement Equity Plan			700,000
Common stock issuable pursuant to restricted stock units outstanding under the 2012 Plan			15,500
Common stock issuable pursuant to options outstanding and reserved under the Inducement Plan			50,000
Total at March 31, 2022			2,688,939

Restricted stock units (RSUs) [Member]

Class Of Stock [Line Items]

Summary of Company's RSUs Activity and Performance Based Restricted Stock Unit Activity

The following table summarizes the Company’s RSUs (not including performance-based RSUs) activity for the year ended March 31, 2022:

	Number of Shares			Weighted Average Price
Unvested at March 31, 2021		21,057		$	10.79
Granted		-		$	—
Vested		(5,557	)	$	11.38
Cancelled / forfeited		—		$	—
Unvested at March 31, 2022		15,500		$	10.58

Performance-Based Restricted Stock Units [Member]

Class Of Stock [Line Items]

Summary of Company's RSUs Activity and Performance Based Restricted Stock Unit Activity

The following table summarizes the Company’s performance-based restricted stock unit activity for the year ended March 31, 2022:

	Number of Shares			Weighted Average Price
Unvested at March 31, 2021		12,229		$	9.80
Granted		—		$	—
Vested		(12,229	)	$	9.80
Canceled / forfeited		—		$	—
Unvested at March 31, 2022		—		$	—

Fixed Assets - Schedule of Fixed Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Property Plant And Equipment [Abstract]
Laboratory equipment	$ 1,171	$ 978
Furniture and fixtures	38	0
Computer software and equipment	524	405
Fixed Assets, gross	1,733	1,383
Less accumulated depreciation	(1,071)	(1,002)
Fixed Assets, net	$ 662	$ 381

Defined Contribution Plan

12 Months Ended

Mar. 31, 2022

Compensation And Retirement Disclosure [Abstract]

Defined Contribution Plan

Note 11. Defined Contribution Plan

The Company has a defined contribution 401(k) plan covering substantially all employees. During the year ended March 31, 2015, the 401(k) plan was amended (the “Amended Plan”) to include an employer matching provision. Under the terms of the Amended Plan, the Company will make matching contributions on up to the first 6% of compensation contributed by its employees. Amounts expensed under the Company’s 401(k) plan for the years ended March 31, 2022 and 2021 were approximately $25,000 and $39,000, respectively.

Income Taxes - Summary of Net Deferred Tax Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Deferred tax assets:
Net operating loss carry forwards	$ 0	$ 0
Research and development credits	0	9
Accrued expenses and reserves	110	86
Operating lease liability	611	0
Stock-based compensation	554	2,433
Other, net	3	3
Total deferred tax assets	1,278	2,531
Valuation allowance	(583)	(2,524)
Net deferred tax assets	695	7
Deferred tax liabilities:
Operating lease right-of-use assets	(603)	0
Depreciation and amortization	(92)	(7)
Total deferred tax liabilities	(695)	(7)
Deferred tax assets net	$ 0	$ 0

Restructuring (Tables)

12 Months Ended

Mar. 31, 2022

Restructuring And Related Activities [Abstract]

Summary of Restructuring Charges Recorded in Selling, General and Administrative Expenses

Restructuring charges were recorded in selling, general and administrative expenses and were comprised of the following (in thousands):

	Year Ended		Year Ended
	March 31, 2022		March 31, 2021
Severance for Involuntary Employee Terminations	$	—	$	2,808
Total Restructuring Expense	$	—	$	2,808

Summary of Activity and Balances of Restructuring Reserve

The following table summarizes the activity and balances of the restructuring reserve (in thousands):

	Severance for Involuntary Employee Terminations
Balance at March 31, 2021	$	135
Increase to reserve	$	—
Utilization of reserve:
Payments	$	(135	)
Balance at March 31, 2022	$	—

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	$ 0
Increase (decrease) in valuation allowance	(1,941,000)	$ (1,552,000)
Federal net operating loss carryforwards	203,900,000
State net operating loss carryforwards	$ 40,500,000
Federal net operating loss carryforwards (“NOLs”) expiring year	2028
State net operating loss carryforwards (“NOLs”) expiring year	2028
Federal research tax credit carryforwards expiration period	2028
Accrued expense regarding interest or penalties	$ 0
Federal [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards	60,300,000
Research tax credit carryforwards	$ 4,400,000
Federal [Member] \| Maximum [Member]
Operating Loss Carryforwards [Line Items]
Percentage of future taxable income to be offset	80.00%
State [Member]
Operating Loss Carryforwards [Line Items]
Research tax credit carryforwards	$ 4,100,000

Restructuring - Summary of Activity and Balances of Restructuring Reserve (Details) - Severance for Involuntary Employee Terminations [Member] $ in Thousands	12 Months Ended
	Mar. 31, 2022 USD ($)
Restructuring Cost And Reserve [Line Items]
Balance at March 31, 2021	$ 135
Increase to reserve	0
Utilization of reserve:
Payments	(135)
Balance at March 31, 2022	$ 0

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows From Operating Activities
Net loss	$ (11,448)	$ (16,826)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on disposal of fixed assets	0	19
Depreciation and amortization	142	41
Stock-based compensation	2,256	5,556
Increase (decrease) in cash resulting from changes in:
Accounts receivable	0	111
Prepaid expenses and other assets	384	(1,135)
Accounts payable	134	(439)
Accrued expenses	49	(650)
Operating right-of-use asset and lease liability, net	30	0
Net cash used in operating activities	(8,453)	(13,323)
Cash Flows From Investing Activities
Purchases of fixed assets	(409)	(405)
Proceeds from disposals of fixed assets	0	12
Net cash used in investing activities	(409)	(393)
Cash Flows From Financing Activities
Proceeds from issuance of common stock, net	251	23,798
Employee taxes paid related to net share settlement of equity awards	(46)	(4)
Proceeds from exercise of stock options	0	42
Purchase of treasury stock	0	(1)
Net cash provided by financing activities	205	23,835
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	(8,657)	10,119
Cash, cash equivalents, and restricted cash at beginning of period	37,475	27,356
Cash, cash equivalents, and restricted cash at end of period	28,818	37,475
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
Cash and cash equivalents	28,675	37,364
Restricted cash	143	111
Cash, cash equivalents, and restricted cash at end of period	28,818	37,475
Supplemental Disclosure of Cash Flow Information:
Income taxes paid	2	2
Operating lease liabilities arising from obtaining right-of-use assets	$ 2,301	$ 0

Stockholders' Equity - Common Stock Reserved for Future Issuance (Detail)	Mar. 31, 2022 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	2,688,939
Equity Incentive Plan 2012 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	710,333
ESPP [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	75,000
Stock options [Member] \| Equity Incentive Plan 2012 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	1,153,671
Stock options [Member] \| ESPP [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	59,435
Stock options [Member] \| 2021 Inducement Equity Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	700,000
Stock options [Member] \| Incentive Award Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	50,000,000
Restricted stock units (RSUs) [Member] \| Equity Incentive Plan 2012 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	15,500

Collaborative Research, Development, and License Agreements - Schedule of Capitalized License Fees (Detail) - Licensing Agreements [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Finite-Lived Intangible Assets [Line Items]
License fees	$ 218	$ 218
Less accumulated amortization	(124)	(109)
License fees, net	$ 94	$ 109

Restructuring - Summary of Restructuring Charges Recorded in Selling, General and Administrative Expenses (Details) - Selling, General and Administrative Expenses [Member] - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring Cost And Reserve [Line Items]
Severance for Involuntary Employee Terminations	$ 0	$ 2,808
Total Restructuring Expense	$ 0	$ 2,808

Stockholders' Equity - Restricted Stock Awards, Restricted Stock Units and Performance-Based Restricted Stock Units - Additional Information (Detail) - PBRSU Retention Awards [Member] - Management Team [Member] - shares		12 Months Ended
	Jul. 02, 2019	Mar. 31, 2022
Class Of Stock [Line Items]
Number of shares allocated	301,391
Vesting period	24 months	24 months
Shares forfeited due to terminations		111,682
Shares accelerated vesting due to a change in control		177,480
Shares that are expected to vest		12,229

Leases (Tables)

12 Months Ended

Mar. 31, 2022

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 March 31, 2022 (in thousands):

	March 31, 2022
ASSETS
Operating lease right-of-use assets	$	2,153
Total lease right-of-use assets	$	2,153

LIABILITIES
Current
Operating lease liability	$	479
Noncurrent
Operating lease liability, net of current portion	$	1,704
Total lease liabilities	$	2,183

Weighted average remaining lease term:	4.83 years
Weighted average discount rate:		6	%

Schedule of Future Lease Payments

Future lease payments relating to the Company’s operating lease liabilities as of March, 31, 2022 are as follows (in thousands):

Fiscal year ending March 31, 2023	$	495
Fiscal year ending March 31, 2024		509
Fiscal year ending March 31, 2025		524
Fiscal year ending March 31, 2026		540
Fiscal year ending March 31, 2027		461
Thereafter		—
Total future lease payments		2,529
Less: Imputed Interest		(346	)
Total lease obligations		2,183
Less: Current obligations		(479	)
Noncurrent lease obligations	$	1,704

Restructuring - Additional Information (Details) - Employee Severance And Benefits Costs - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Mar. 31, 2022
Restructuring Cost And Reserve [Line Items]
Restructuring charges		$ 2,800,000
Payments for restructuring	$ 2,600,000
Quarterly restructuring payment, description		The Company paid approximately $30,000 each quarter through the end of fiscal 2022 as part of the severance and benefit obligations.
Quarterly restructuring payment		$ 30,000

Description of Business and Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Description of Business and Summary of Significant Accounting Policies

Note 1. Description of Business and Summary of Significant Accounting Policies

Nature of operations and basis of presentation

Organovo Holdings, Inc. (“Organovo Holdings,” “Organovo,” and the “Company”) is an early-stage biotechnology company that focuses on building high fidelity, 3D tissues that recapitulate key aspects of human disease. The Company uses these models to identify gene targets responsible for driving the disease and intends to initiate drug discovery programs around these validated targets. The Company is initially focusing on the intestine and has ongoing 3D tissue development efforts in ulcerative colitis (“UC”) and Crohn’s disease (“CD”). The Company intends to add additional tissues/diseases/targets to its portfolio over time. In line with these plans, the Company is building upon both its external and in house scientific expertise, which will be essential to its drug development effort.

The Company uses its proprietary technology to build functional 3D human tissues that mimic key aspects of native human tissue composition, architecture, function and disease. Organovo’s advances include cell type-specific compartments, prevalent intercellular tight junctions, and the formation of microvascular structures. Management believes these attributes can enable critical complex, multicellular disease models that can be used to develop clinically effective drugs across multiple therapeutic areas.

The Company’s NovoGen Bioprinters^® are automated devices that enable the fabrication of 3D living tissues comprised of mammalian cells. The Company believes that the use of its bioprinting platform as well as complementary 3D technologies will allow it to develop an understanding of disease biology that leads to validated novel drug targets and therapeutics to those targets to treat disease.

The majority of the Company’s current focus is in inflammatory bowel disease (“IBD”), including CD and UC. The Company is creating high fidelity disease models, leveraging its prior work including the work found in its peer-reviewed publication on bioprinted intestinal tissues (Madden et al. Bioprinted 3D Primary Human Intestinal Tissues Model Aspects of Native Physiology and ADME/Tox Functions. iScience. 2018 Apr 27;2:156-167. doi: 10.1016/j.isci.2018.03.015.) The Company’s current understanding of intestinal tissue models and IBD disease models leads it to believe that it can create models that provide greater insight into the biology of these diseases than are generally currently available. Using these disease models, the Company intends to identify and validate novel therapeutic targets. After finding therapeutic drug targets, the Company intends to focus on developing novel small molecule, antibody, or other therapeutic drug candidates to treat the disease, and advance these novel drug candidates towards an Investigational New Drug (“IND”) filing and potential future clinical trials.

The Company expects to broaden its work into additional therapeutic areas over time and is currently exploring specific tissues for development. In the Company’s work to identify the areas of interest, it evaluates areas that might be better served with 3D disease models than currently available models as well as the potential commercial opportunity.

Except where specifically noted or the context otherwise requires, references to “Organovo Holdings”, “the Company”, and “Organovo” in these notes to the consolidated financial statements refers to Organovo Holdings, Inc. and its wholly owned subsidiaries, Organovo, Inc., and Opal Merger Sub, Inc.

COVID-19

Global health concerns relating to the COVID-19 pandemic continue to weigh on the macroeconomic environment, and the pandemic has significantly increased economic volatility and uncertainty.

The extent to which the coronavirus impacts the Company’s operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the rise of vaccine-resistant variants, the duration of the outbreak, and any travel bans and restrictions or other limitations that may be imposed in the future. In particular, the continued coronavirus pandemic could adversely impact various aspects of the Company’s operations, including among others, the ability to raise additional capital, the timing and ability to pursue the Company’s strategy, given the impact the pandemic may have on the manufacturing and supply chain, sales and marketing and clinical trial operations of potential strategic partners, and the ability to advance its research and development activities and pursue development of its pipeline products, each of which could have an adverse impact on the Company’s business and financial results. Company employees and consultants have recently returned to working at the office and lab when necessary. The Company has developed guidelines and protocols to handle exposures and infections to keep disruptions to operations to a minimum.

Liquidity

As of March 31, 2022, the Company had cash and cash equivalents of approximately $28.7 million, restricted cash of approximately $0.1 million and an accumulated deficit of approximately $307.7 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 $8.5 million during the year ended March 31, 2022.

Through March 31, 2022, the Company has financed its operations primarily through the sale of common stock through public and at-the-market (“ATM”) offerings, the 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. During the year ended March 31, 2022, the Company issued 27,545 shares of its common stock through its ATM facility and received net proceeds of approximately $0.3 million.

The Company believes its cash and cash equivalents on hand will be sufficient to meet its financial obligations for at least the next 12 months of operations. As the Company recommences its operations and is focusing its efforts on drug discovery 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. If required, the Company may 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, financial condition and ability to continue as a going concern.

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. Significant estimates used in preparing the consolidated financial statements include those assumed in revenue recognition and the valuation of stock-based compensation expense. On an ongoing basis, management reviews these estimates and assumptions. Though the impact of the COVID-19 pandemic to the Company’s business and operating results presents additional uncertainty, the Company continues to use the best information available to inform its significant accounting estimates.

Financial instruments

For certain of the Company’s financial instruments, including cash and cash equivalents, prepaid expenses and other assets, accounts payable, accrued expenses, the carrying amounts are generally considered to be representative of their respective fair values because of the short-term nature of those instruments.

Cash and cash equivalents

The Company considers all highly liquid investments with original maturities of 90 days or less to be cash equivalents.

Restricted cash

As of March 31, 2022 and 2021, the Company had approximately $0.1 million of restricted cash, respectively, deposited with a financial institution. The entire amount was held in certificates of deposit to support a letter of credit agreement related to the Company’s facility leases entered into in November 2020 and amended in November 2021.

Fixed assets and depreciation

Fixed assets are carried at cost. Expenditures that extend the life of the asset are capitalized and depreciated. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the related assets or, in the case of leasehold improvements, over the lesser of the useful life of the related asset or the remaining lease term. The estimated useful lives of the fixed assets range between one and seven years.

Impairment of long-lived assets

In accordance with authoritative guidance, the Company reviews its long-lived assets, including fixed assets and other assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. To determine recoverability of its long-lived assets, the Company evaluates whether future undiscounted net cash flows will be less than the carrying amount of the assets and adjusts the carrying amount of its assets to fair value. Management has determined that no impairment of long-lived assets occurred as of March 31, 2022 and 2021.

Research and development

Research and development expenses, including direct and allocated expenses, consist of independent research and development costs, as well as costs associated with sponsored research and development. Research and development costs are expensed as incurred.

Income taxes

Deferred income taxes are recognized for the tax consequences in future years for differences between the tax basis of assets and liabilities and their financial reporting amounts at each year end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the combination of the tax payable for the year and the change during the year in deferred tax assets and liabilities. The Company’s policy regarding uncertainty in income taxes is pursuant to ASC 740-10. Interest and penalties that would be assessed in relation to the settlement value of unrecognized tax benefits is recognized as a component of income tax expense.

Revenue recognition

The Company has generated revenues from payments received from licensing intellectual property.

Licenses

The Company has entered into a license agreement with a company that includes the following: (i) non-refundable upfront fees and (ii) royalties based on specified percentages of net product sales, if any. At the initiation of the agreement, the Company has analyzed whether it results in a contract with a customer under Topic 606.

The Company has 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 has evaluated each performance obligation to determine if it can be satisfied and recognized as revenue at a point in time or over time. Typically, non-refundable upfront fees have been considered fixed, while 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 4: Collaborative Research, Development, and License Agreements” for further information.

Stock-based compensation

The Company accounts for stock-based compensation in accordance with the ASC Topic 718, Compensation — Stock Compensation, which establishes accounting for equity instruments exchanged for employee and non-employee services. Under such provisions, stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award (determined using either the Black-Scholes or Monte Carlo option-pricing models, depending on the complexity of the equity grant), and is recognized as an expense, under the straight-line method, over the employee’s requisite service period (generally the vesting period of the equity grant).

Comprehensive income (loss)

Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive income (loss) in the financial statements in the period in which they are recognized. Net income (loss) and other comprehensive income (loss), including unrealized gains and losses on investments, are reported, net of their related tax effect, to arrive at comprehensive income (loss). For the years ended March 31, 2022 and 2021, the comprehensive loss was equal to the net loss.

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 excludes any assumed exercise of stock options and warrants, shares reserved for purchase under the Company’s 2016 Employee Stock Purchase Plan (“ESPP”), the assumed release of restriction of restricted stock units (“RSUs”), and shares subject to repurchase as the effect would be anti-dilutive. No dilutive effect was calculated for the years ended March 31, 2022 and 2021 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 were approximately 1.2 million shares and 1.0 million shares for the years ended March 31, 2022 and 2021, respectively.

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Deficit [Member]
Beginning balance at Mar. 31, 2020	$ 26,631	$ 7	$ 306,089	$ 0	$ (279,465)
Beginning balance, Shares at Mar. 31, 2020		6,528,000
Stock option exercises	42	$ 0	42	0	0
Stock option exercises, Shares		8,000
Issuance of common stock under employee and director stock option, RSU and purchase plans	(4)	$ 0	(4)	0	0
Issuance of common stock under employee and director stock option, RSU and purchase plans, Shares		203,000
Stock-based compensation expense	5,556	$ 0	5,556	0	0
Issuance of common stock from public offering, net	23,798	$ 2	23,796	0	0
Issuance of common stock from public offering, Shares		1,932,000
Purchase of treasury stock	(1)	$ 0	0	$ (1)	0
Purchase of treasury stock, shares				0
Net loss	(16,826)	0	0	$ 0	(16,826)
Ending balance at Mar. 31, 2021	$ 39,196	$ 9	335,479	$ (1)	(296,291)
Ending balance, Shares at Mar. 31, 2021		8,671,000		0
Stock option exercises, Shares	0
Issuance of common stock under employee and director stock option, RSU and purchase plans	$ (46)	$ 0	(46)	$ 0	0
Issuance of common stock under employee and director stock option, RSU and purchase plans, Shares		13,000
Stock-based compensation expense	2,256	$ 0	2,256	0	0
Issuance of common stock from public offering, net	251	$ 0	251	0	0
Issuance of common stock from public offering, Shares		27,000
Net loss	(11,448)	$ 0	0	0	(11,448)
Ending balance at Mar. 31, 2022	$ 30,209	$ 9	$ 337,940	$ (1)	$ (307,739)
Ending balance, Shares at Mar. 31, 2022		8,711,000		0

Stockholders' Equity - Summary of Company's RSUs Activity and Performance Based Restricted Stock Unit Activity (Detail)	12 Months Ended
	Mar. 31, 2022 $ / shares shares
Restricted stock units (RSUs) [Member]
Class Of Stock [Line Items]
Beginning balance, Unvested, Number of Shares \| shares	21,057
Granted, Number of Shares \| shares	0
Vested, Number of Shares \| shares	(5,557)
Cancelled / forfeited, Number of Shares \| shares	0
Ending balance, Unvested, Number of Shares \| shares	15,500
Beginning balance, Unvested, Weighted Average Price \| $ / shares	$ 10.79
Granted, Weighted Average Price \| $ / shares	0
Vested, Weighted Average Price \| $ / shares	11.38
Cancelled / forfeited, Weighted Average Price \| $ / shares	0
Ending balance, Unvested, Weighted Average Price \| $ / shares	$ 10.58
Performance-Based Restricted Stock Units [Member]
Class Of Stock [Line Items]
Beginning balance, Unvested, Number of Shares \| shares	12,229
Granted, Number of Shares \| shares	0
Vested, Number of Shares \| shares	(12,229)
Cancelled / forfeited, Number of Shares \| shares	0
Ending balance, Unvested, Number of Shares \| shares	0
Beginning balance, Unvested, Weighted Average Price \| $ / shares	$ 9.80
Granted, Weighted Average Price \| $ / shares	0
Vested, Weighted Average Price \| $ / shares	9.80
Cancelled / forfeited, Weighted Average Price \| $ / shares	0
Ending balance, Unvested, Weighted Average Price \| $ / shares	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Current Assets
Cash and cash equivalents	$ 28,675	$ 37,364
Prepaid expenses and other current assets	858	1,034
Total current assets	29,533	38,398
Fixed assets, net	662	381
Restricted cash	143	111
Operating lease right-of-use assets	2,153	0
Prepaid expenses and other assets, net	805	1,027
Total assets	33,296	39,917
Current Liabilities
Accounts payable	415	281
Accrued expenses	489	440
Operating lease liability, current portion	479	0
Total current liabilities	1,383	721
Operating lease liability, net of current portion	1,704	0
Total liabilities	3,087	721
Commitments and Contingencies	0	0
Stockholders' Equity
Common stock, $0.001 par value; 200,000,000 shares authorized, 8,710,627 and 8,670,492 shares issued and outstanding at March 31, 2022 and 2021, respectively	9	9
Additional paid-in capital	337,940	335,479
Accumulated deficit	(307,739)	(296,291)
Treasury stock, 46 shares at cost	(1)	(1)
Total stockholders' equity	30,209	39,196
Total Liabilities and Stockholders' Equity	$ 33,296	$ 39,917

Leases - Schedule of Future Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 17, 2021	Mar. 31, 2021
Leases [Abstract]
Fiscal year ending March 31, 2023	$ 495
Fiscal year ending March 31, 2024	509
Fiscal year ending March 31, 2025	524
Fiscal year ending March 31, 2026	540
Fiscal year ending March 31, 2027	461
Thereafter	0
Total future lease payments	2,529
Less: Imputed Interest	(346)
Total lease liabilities	2,183	$ 2,300
Less: Current obligations	(479)		$ 0
Noncurrent lease obligations	$ 1,704		$ 0

Recent Accounting Pronouncements (Policies)	12 Months Ended
Recent Accounting Pronouncements (Policies)	Mar. 31, 2022
Accounting Policies [Abstract]
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.

Defined Contribution Plan - Additional Information (Details) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Percentage of employees contribution	6.00%
Administration expenses	$ 25,000	$ 39,000

Recent Accounting Pronouncements

12 Months Ended

Mar. 31, 2022

Accounting Changes And Error Corrections [Abstract]

Recent Accounting Pronouncements

Note 12. 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.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended
	Sep. 30, 2021 Proceeding
Commitments And Contingencies Disclosure [Abstract]
Number of additional IPR proceedings filed	2

Accrued Expenses (Tables)

12 Months Ended

Mar. 31, 2022

Payables And Accruals [Abstract]

Summary of Accrued Expenses

Accrued expenses consisted of the following (in thousands):

	March 31, 2022		March 31, 2021
Accrued compensation	$	434	$	378
Accrued legal and professional fees		27		31
Other accrued expenses		28		31
	$	489	$	440

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Statutory Federal Rate and Effective Rate for Operations

A reconciliation of the statutory federal rate and the effective rate, for operations, is as follows for the years ended March 31, 2022 and 2021 (in thousands, except percentages):

	March 31, 2022				March 31, 2021
Tax computed at federal statutory rate	$	(2,404	)	21%	$	(3,533	)	18.9%
State income tax, net of federal benefit		(6	)	0%		(823	)	4.4%
Executive compensation		—		0%		509		0.0%
Stock-based compensation		1,857		-16.2%		2,662		-14.2%
Research credits		(249	)	2.1%		(35	)	0.2%
Change in tax rate		454		-4.0%		(282	)	1.5%
Removal of net operating losses and research development credits		2,269		-19.8%		3,269		-17.5%
Other		20		-0.1%		(215	)	1.1%
Valuation allowance		(1,941	)	16.9%		(1,552	)	8.3%
Provision (benefit) for income taxes	$	—		0.0%	$	—		0.0%

Summary of Net Deferred Tax Assets

Significant components of the Company’s net deferred tax assets are as follows as of March 31, 2022 and 2021 (in thousands, except percentages):

	March 31, 2022			March 31, 2021
Deferred tax assets:
Net operating loss carry forwards	$	—		$	—
Research and development credits		—			9
Accrued expenses and reserves		110			86
Operating lease liability		611			—
Stock-based compensation		554			2,433
Other, net		3			3
Total deferred tax assets		1,278			2,531
Valuation allowance		(583	)		(2,524	)
Net deferred tax assets	$	695		$	7
Deferred tax liabilities:
Operating lease right-of-use assets		(603	)		—
Depreciation and amortization		(92	)		(7	)
Total deferred tax liabilities	$	(695	)	$	(7	)
	$	—		$	—

Fixed Assets

12 Months Ended

Mar. 31, 2022

Property Plant And Equipment [Abstract]

Fixed Assets

Note 2. Fixed Assets

Fixed assets consisted of the following (in thousands):

	March 31, 2022			March 31, 2021
Laboratory equipment	$	1,171		$	978
Furniture and fixtures		38			—
Computer software and equipment		524			405
Fixed Assets, gross		1,733			1,383
Less accumulated depreciation		(1,071	)		(1,002	)
Fixed Assets, net	$	662		$	381

As of March 31, 2022 and 2021, all of the Company’s fixed assets were active and in use. Depreciation expense for the years ended March 31, 2022 and 2021 was approximately $128,000 and $27,000, respectively.

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Mar. 31, 2021
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	8,710,627	8,670,492
Common stock, shares outstanding	8,710,627	8,670,492
Treasury stock, shares	46	46

Restructuring

12 Months Ended

Mar. 31, 2022

Restructuring And Related Activities [Abstract]

Restructuring

Note 13. Restructuring

In September 2020, shareholders approved a change to the Company’s operations and executive team, which triggered a “Change of Control” under the Company’s severance plan. As a result, the Company terminated the employment of its executive officers and recorded a restructuring charge of approximately $2.8 million, related to employee severance and benefits costs, of which approximately $2.6 million was paid out during the second quarter of fiscal 2021. The Company paid approximately $30,000 each quarter through the end of fiscal 2022 as part of the severance and benefit obligations.

Restructuring charges were recorded in selling, general and administrative expenses and were comprised of the following (in thousands):

	Year Ended		Year Ended
	March 31, 2022		March 31, 2021
Severance for Involuntary Employee Terminations	$	—	$	2,808
Total Restructuring Expense	$	—	$	2,808

The following table summarizes the activity and balances of the restructuring reserve (in thousands):

	Severance for Involuntary Employee Terminations
Balance at March 31, 2021	$	135
Increase to reserve	$	—
Utilization of reserve:
Payments	$	(135	)
Balance at March 31, 2022	$	—

As of March 31, 2022, the restructuring accrual was fully utilized and there is no remaining balance.

Income Taxes

12 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Note 8. Income Taxes

A reconciliation of the statutory federal rate and the effective rate, for operations, is as follows for the years ended March 31, 2022 and 2021 (in thousands, except percentages):

	March 31, 2022				March 31, 2021
Tax computed at federal statutory rate	$	(2,404	)	21%	$	(3,533	)	18.9%
State income tax, net of federal benefit		(6	)	0%		(823	)	4.4%
Executive compensation		—		0%		509		0.0%
Stock-based compensation		1,857		-16.2%		2,662		-14.2%
Research credits		(249	)	2.1%		(35	)	0.2%
Change in tax rate		454		-4.0%		(282	)	1.5%
Removal of net operating losses and research development credits		2,269		-19.8%		3,269		-17.5%
Other		20		-0.1%		(215	)	1.1%
Valuation allowance		(1,941	)	16.9%		(1,552	)	8.3%
Provision (benefit) for income taxes	$	—		0.0%	$	—		0.0%

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s net deferred tax assets are as follows as of March 31, 2022 and 2021 (in thousands, except percentages):

	March 31, 2022			March 31, 2021
Deferred tax assets:
Net operating loss carry forwards	$	—		$	—
Research and development credits		—			9
Accrued expenses and reserves		110			86
Operating lease liability		611			—
Stock-based compensation		554			2,433
Other, net		3			3
Total deferred tax assets		1,278			2,531
Valuation allowance		(583	)		(2,524	)
Net deferred tax assets	$	695		$	7
Deferred tax liabilities:
Operating lease right-of-use assets		(603	)		—
Depreciation and amortization		(92	)		(7	)
Total deferred tax liabilities	$	(695	)	$	(7	)
	$	—		$	—

A full valuation allowance has been established to offset the deferred tax assets as management cannot conclude that realization of such assets is more likely than not. Under the Internal Revenue Code (“IRC”) Sections 382 and 383, annual use of the Company’s net operating loss and research tax credit carryforwards to offset taxable income may be limited based on cumulative changes in ownership. The Company has not completed an analysis to determine whether any such limitations have been triggered as of March 31, 2022. Until this analysis is completed, the Company has removed the deferred tax assets related to net operating losses from its deferred tax asset schedule. Further, until a study is completed and any limitation known, no amounts are being considered as an uncertain tax position or disclosed as an unrecognized tax benefit. Due to the existence of the valuation allowance, future changes in the Company’s unrecognized tax benefits will not impact its effective tax rate. Any carryforwards that will expire prior to utilization as a result of such limitations will be removed from deferred tax assets with a corresponding reduction of the valuation allowance. The valuation allowance decreased by approximately $1,941,000 and approximately $1,552,000 for the years ended March 31, 2022 and 2021, respectively.

The Company had federal and state net operating loss carryforwards of approximately $203.9 million and $40.5 million, respectively, as of March 31, 2022. Federal net operating loss carryforwards of approximately $60.3 million will carryforward indefinitely and be available to offset up to 80% of future taxable income each year subject to revisions made by the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The remaining federal net operating losses will begin to expire in 2028, unless previously utilized. The state net operating loss carryforwards (“NOLs”) will begin to expire in 2028, unless previously utilized.

The Company had federal and state research tax credit carryforwards of approximately $4.4 million and $4.1 million at March 31, 2022, respectively. The federal research tax credit carryforwards begin expiring in 2028. The state research tax credit carryforwards do not expire.

The Company did not record any accruals for income tax accounting uncertainties for the year ended March 31, 2022.

The Company did not accrue either interest or penalties from inception through March 31, 2022.

The Company does not expect its unrecognized tax benefits to significantly increase or decrease within the next 12 months.

The Company is subject to tax in the United States and in California. As of March 31, 2022, the Company’s tax years from inception are subject to examination by the tax authorities due to the generation of net operating losses. The Company is not currently under examination by any jurisdiction.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Stockholders' Equity - Fair Value of Employee Stock Options (Detail) - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Dividend yield	0.00%	0.00%
Volatility	95.65%	107.88%
Risk-free interest rate	1.30%	0.61%
Expected life of options	5 years 9 months	5 years 9 months 21 days
Weighted average grant date fair value	$ 4.73	$ 6.97

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Nature of operations and basis of presentation	Nature of operations and basis of presentation Organovo Holdings, Inc. (“Organovo Holdings,” “Organovo,” and the “Company”) is an early-stage biotechnology company that focuses on building high fidelity, 3D tissues that recapitulate key aspects of human disease. The Company uses these models to identify gene targets responsible for driving the disease and intends to initiate drug discovery programs around these validated targets. The Company is initially focusing on the intestine and has ongoing 3D tissue development efforts in ulcerative colitis (“UC”) and Crohn’s disease (“CD”). The Company intends to add additional tissues/diseases/targets to its portfolio over time. In line with these plans, the Company is building upon both its external and in house scientific expertise, which will be essential to its drug development effort. The Company uses its proprietary technology to build functional 3D human tissues that mimic key aspects of native human tissue composition, architecture, function and disease. Organovo’s advances include cell type-specific compartments, prevalent intercellular tight junctions, and the formation of microvascular structures. Management believes these attributes can enable critical complex, multicellular disease models that can be used to develop clinically effective drugs across multiple therapeutic areas. The Company’s NovoGen Bioprinters^® are automated devices that enable the fabrication of 3D living tissues comprised of mammalian cells. The Company believes that the use of its bioprinting platform as well as complementary 3D technologies will allow it to develop an understanding of disease biology that leads to validated novel drug targets and therapeutics to those targets to treat disease. The majority of the Company’s current focus is in inflammatory bowel disease (“IBD”), including CD and UC. The Company is creating high fidelity disease models, leveraging its prior work including the work found in its peer-reviewed publication on bioprinted intestinal tissues (Madden et al. Bioprinted 3D Primary Human Intestinal Tissues Model Aspects of Native Physiology and ADME/Tox Functions. iScience. 2018 Apr 27;2:156-167. doi: 10.1016/j.isci.2018.03.015.) The Company’s current understanding of intestinal tissue models and IBD disease models leads it to believe that it can create models that provide greater insight into the biology of these diseases than are generally currently available. Using these disease models, the Company intends to identify and validate novel therapeutic targets. After finding therapeutic drug targets, the Company intends to focus on developing novel small molecule, antibody, or other therapeutic drug candidates to treat the disease, and advance these novel drug candidates towards an Investigational New Drug (“IND”) filing and potential future clinical trials. The Company expects to broaden its work into additional therapeutic areas over time and is currently exploring specific tissues for development. In the Company’s work to identify the areas of interest, it evaluates areas that might be better served with 3D disease models than currently available models as well as the potential commercial opportunity. Except where specifically noted or the context otherwise requires, references to “Organovo Holdings”, “the Company”, and “Organovo” in these notes to the consolidated financial statements refers to Organovo Holdings, Inc. and its wholly owned subsidiaries, Organovo, Inc., and Opal Merger Sub, Inc.
COVID-19	COVID-19 Global health concerns relating to the COVID-19 pandemic continue to weigh on the macroeconomic environment, and the pandemic has significantly increased economic volatility and uncertainty. The extent to which the coronavirus impacts the Company’s operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the rise of vaccine-resistant variants, the duration of the outbreak, and any travel bans and restrictions or other limitations that may be imposed in the future. In particular, the continued coronavirus pandemic could adversely impact various aspects of the Company’s operations, including among others, the ability to raise additional capital, the timing and ability to pursue the Company’s strategy, given the impact the pandemic may have on the manufacturing and supply chain, sales and marketing and clinical trial operations of potential strategic partners, and the ability to advance its research and development activities and pursue development of its pipeline products, each of which could have an adverse impact on the Company’s business and financial results. Company employees and consultants have recently returned to working at the office and lab when necessary. The Company has developed guidelines and protocols to handle exposures and infections to keep disruptions to operations to a minimum.
Liquidity	Liquidity As of March 31, 2022, the Company had cash and cash equivalents of approximately $28.7 million, restricted cash of approximately $0.1 million and an accumulated deficit of approximately $307.7 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 $8.5 million during the year ended March 31, 2022. Through March 31, 2022, the Company has financed its operations primarily through the sale of common stock through public and at-the-market (“ATM”) offerings, the 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. During the year ended March 31, 2022, the Company issued 27,545 shares of its common stock through its ATM facility and received net proceeds of approximately $0.3 million. The Company believes its cash and cash equivalents on hand will be sufficient to meet its financial obligations for at least the next 12 months of operations. As the Company recommences its operations and is focusing its efforts on drug discovery 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. If required, the Company may 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, financial condition and ability to continue as a going concern.
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. Significant estimates used in preparing the consolidated financial statements include those assumed in revenue recognition and the valuation of stock-based compensation expense. On an ongoing basis, management reviews these estimates and assumptions. Though the impact of the COVID-19 pandemic to the Company’s business and operating results presents additional uncertainty, the Company continues to use the best information available to inform its significant accounting estimates.
Financial instruments	Financial instruments For certain of the Company’s financial instruments, including cash and cash equivalents, prepaid expenses and other assets, accounts payable, accrued expenses, the carrying amounts are generally considered to be representative of their respective fair values because of the short-term nature of those instruments.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid investments with original maturities of 90 days or less to be cash equivalents.
Restricted cash	Restricted cash As of March 31, 2022 and 2021, the Company had approximately $0.1 million of restricted cash, respectively, deposited with a financial institution. The entire amount was held in certificates of deposit to support a letter of credit agreement related to the Company’s facility leases entered into in November 2020 and amended in November 2021.
Fixed assets and depreciation	Fixed assets and depreciation Fixed assets are carried at cost. Expenditures that extend the life of the asset are capitalized and depreciated. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the related assets or, in the case of leasehold improvements, over the lesser of the useful life of the related asset or the remaining lease term. The estimated useful lives of the fixed assets range between one and seven years.
Impairment of long-lived assets	Impairment of long-lived assets In accordance with authoritative guidance, the Company reviews its long-lived assets, including fixed assets and other assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. To determine recoverability of its long-lived assets, the Company evaluates whether future undiscounted net cash flows will be less than the carrying amount of the assets and adjusts the carrying amount of its assets to fair value. Management has determined that no impairment of long-lived assets occurred as of March 31, 2022 and 2021.
Research and development	Research and development Research and development expenses, including direct and allocated expenses, consist of independent research and development costs, as well as costs associated with sponsored research and development. Research and development costs are expensed as incurred.
Income taxes	Income taxes Deferred income taxes are recognized for the tax consequences in future years for differences between the tax basis of assets and liabilities and their financial reporting amounts at each year end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the combination of the tax payable for the year and the change during the year in deferred tax assets and liabilities. The Company’s policy regarding uncertainty in income taxes is pursuant to ASC 740-10. Interest and penalties that would be assessed in relation to the settlement value of unrecognized tax benefits is recognized as a component of income tax expense.
Revenue recognition	Revenue recognition The Company has generated revenues from payments received from licensing intellectual property. Licenses The Company has entered into a license agreement with a company that includes the following: (i) non-refundable upfront fees and (ii) royalties based on specified percentages of net product sales, if any. At the initiation of the agreement, the Company has analyzed whether it results in a contract with a customer under Topic 606. The Company has 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 has evaluated each performance obligation to determine if it can be satisfied and recognized as revenue at a point in time or over time. Typically, non-refundable upfront fees have been considered fixed, while 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 4: Collaborative Research, Development, and License Agreements” for further information.
Stock-based compensation	Stock-based compensation The Company accounts for stock-based compensation in accordance with the ASC Topic 718, Compensation — Stock Compensation, which establishes accounting for equity instruments exchanged for employee and non-employee services. Under such provisions, stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award (determined using either the Black-Scholes or Monte Carlo option-pricing models, depending on the complexity of the equity grant), and is recognized as an expense, under the straight-line method, over the employee’s requisite service period (generally the vesting period of the equity grant).
Comprehensive income (loss)	Comprehensive income (loss) Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive income (loss) in the financial statements in the period in which they are recognized. Net income (loss) and other comprehensive income (loss), including unrealized gains and losses on investments, are reported, net of their related tax effect, to arrive at comprehensive income (loss). For the years ended March 31, 2022 and 2021, the comprehensive loss was equal to the net loss.
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 excludes any assumed exercise of stock options and warrants, shares reserved for purchase under the Company’s 2016 Employee Stock Purchase Plan (“ESPP”), the assumed release of restriction of restricted stock units (“RSUs”), and shares subject to repurchase as the effect would be anti-dilutive. No dilutive effect was calculated for the years ended March 31, 2022 and 2021 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 were approximately 1.2 million shares and 1.0 million shares for the years ended March 31, 2022 and 2021, respectively.

Income Taxes - Summary of Reconciliation of Statutory Federal Rate and Effective Rate for Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Tax computed at federal statutory rate	$ (2,404)	$ (3,533)
State income tax, net of federal benefit	(6)	(823)
Executive compensation	0	509
Stock-based compensation	1,857	2,662
Research credits	(249)	(35)
Change in tax rate	454	(282)
Removal of net operating losses and research development credits	2,269	3,269
Other	20	(215)
Valuation allowance	(1,941)	(1,552)
Provision (benefit) for income taxes	$ 0	$ 0
Tax computed at federal statutory rate	21.00%	18.90%
State income tax, net of federal benefit	0.00%	4.40%
Executive compensation	0.00%	0.00%
Stock-based compensation	(16.20%)	(14.20%)
Research credits	2.10%	0.20%
Change in tax rate	(4.00%)	1.50%
Removal of net operating losses and research development credits	(19.80%)	(17.50%)
Other	(0.10%)	1.10%
Valuation allowance	16.90%	8.30%
Provision (benefit) for income taxes	0.00%	0.00%

Consolidated Statements of Operations and Other Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Total Revenues	$ 1,500	$ 0
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	us-gaap:RoyaltyMember	us-gaap:RoyaltyMember
Research and development expenses	$ 3,320	$ 1,103
Selling, general, and administrative expenses	9,659	15,723
Total costs and expenses	12,979	16,826
Loss from Operations	(11,479)	(16,826)
Other Income
Loss on fixed asset disposals	0	(19)
Interest income	8	15
Other income	25	6
Total Other Income	33	2
Income Tax Expense	(2)	(2)
Net Loss	$ (11,448)	$ (16,826)
Net loss per common share—basic and diluted	$ (1.32)	$ (2.44)
Weighted average shares used in computing net loss per common share—basic and diluted	8,703,596	6,902,000
Comprehensive Loss:
Net Loss	$ (11,448)	$ (16,826)
Comprehensive Loss	$ (11,448)	$ (16,826)

Commitments and Contingencies

12 Months Ended

Mar. 31, 2022

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 7. 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.

The Company previously disclosed the following actions (collectively, the “Actions”):

•

In June 2021, the Company’s U.S. Patent Nos. 9,855,369 and 9,149,952, which relate to its bioprinter technology, became the subject of IPR proceedings filed by Cellink AB and its subsidiaries, MatTek Incorporated and Visikol, Inc. (collectively, “BICO Group AB”). The Company filed a preliminary response to BICO Group AB’s IPR petition in September 2021, and the Patent Trial and Appeal Board (“PTAB”) denied institution of the proceedings in December 2021.

•

Also in June 2021, U.S. Patent Nos. 9,149,952, 9,855,369, 8,931,880, 9,227,339 and 9,315,043 (all assigned to Organovo, Inc.) and U.S. Patent Nos. 7,051,654 and 9,752,116 (licensed exclusively to Organovo) were subject to a declaratory judgment complaint against the Company brought by BICO Group AB to obtain a declaration from the court that they do not infringe any claims of the noted patents (the “Action”).

•

Further, on July 28, 2021, the Company filed a complaint for patent infringement against BICO Group AB in the United States District Court for the Western District of Texas (the “Patent Complaint”). The Patent Complaint alleged that BICO Group AB has infringed U.S. Patent Nos. 9,149,952, 9,855,369 and 9,315,043 (all assigned to Organovo, Inc.) and U.S. Patent No. 9,752,116 (licensed exclusively to Organovo). The Company sought an injunction against continuing infringement of the foregoing patents by BICO Group AB and monetary damages. The Company later amended the complaint to add U.S. Patent No. 8,852,932. The case was transferred to the District of Delaware in December 2021 to be consolidated with BICO Group AB’s declaratory judgment action.

•

In addition, in September 2021, BICO Group AB filed two additional IPR proceedings against the Company’s U.S. Patent Nos. 9,315,043 and 9,752,116 (exclusively licensed by the Company from the MUSC Foundation for Research and Development), which relate to its bioprinter technology. The Company filed preliminary responses to those proceedings in December 2021 and January 2022.

On February 22, 2022, the Company and BICO Group AB entered into a Settlement and Patent License Agreement fully and finally settling all matters between the parties regarding BICO Group AB’s alleged infringement of the Company’s patents. Concurrent with this settlement, the Delaware District Court action was dismissed and the remaining IPR proceeding was also dismissed.

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. During the period presented, the Company has not recorded any accrual for loss contingencies associated with any claims or legal proceedings; determined that an unfavorable outcome is probable or reasonably possible; or determined that the amount or range of any possible loss is reasonably estimable. However, the outcome of legal proceedings and claims brought against the Company is subject to significant uncertainty. Therefore, although management considers the likelihood of such an outcome to be remote, if one or more of these 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.

Stockholders' Equity - Summary of Company's RSUs Activity and Performance Based Restricted Stock Unit Activity (Detail)	12 Months Ended
	Mar. 31, 2022 $ / shares shares
Restricted stock units (RSUs) [Member]
Class Of Stock [Line Items]
Beginning balance, Unvested, Number of Shares \| shares	21,057
Granted, Number of Shares \| shares	0
Vested, Number of Shares \| shares	(5,557)
Cancelled / forfeited, Number of Shares \| shares	0
Ending balance, Unvested, Number of Shares \| shares	15,500
Beginning balance, Unvested, Weighted Average Price \| $ / shares	$ 10.79
Granted, Weighted Average Price \| $ / shares	0
Vested, Weighted Average Price \| $ / shares	11.38
Cancelled / forfeited, Weighted Average Price \| $ / shares	0
Ending balance, Unvested, Weighted Average Price \| $ / shares	$ 10.58
Performance-Based Restricted Stock Units [Member]
Class Of Stock [Line Items]
Beginning balance, Unvested, Number of Shares \| shares	12,229
Granted, Number of Shares \| shares	0
Vested, Number of Shares \| shares	(12,229)
Cancelled / forfeited, Number of Shares \| shares	0
Ending balance, Unvested, Number of Shares \| shares	0
Beginning balance, Unvested, Weighted Average Price \| $ / shares	$ 9.80
Granted, Weighted Average Price \| $ / shares	0
Vested, Weighted Average Price \| $ / shares	9.80
Cancelled / forfeited, Weighted Average Price \| $ / shares	0
Ending balance, Unvested, Weighted Average Price \| $ / shares	$ 0