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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Jan. 31, 2017	Feb. 28, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2017
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3
Trading Symbol	KALV
Entity Registrant Name	KALVISTA PHARMACEUTICALS, INC.
Entity Central Index Key	0001348911
Current Fiscal Year End Date	--04-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		9,713,042

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jan. 31, 2017	Apr. 30, 2016
Current assets:
Cash and cash equivalents	$ 33,498	$ 21,764
Research and development tax credit receivable	2,840	1,883
Grants receivable	398	356
Prepaid expenses and other current assets	1,217	668
Total current assets	37,953	24,671
Property and equipment, net	97	74
Total assets	38,050	24,745
Current liabilities:
Accounts payable	755	1,135
Accrued expenses	2,446	2,114
Total current liabilities	3,201	3,249
Commitments and contingencies (Note 5)
Stockholders’ equity (deficit)
Ordinary shares, $0.0016 par value; Shares issued and outstanding: None at January 31, 2017 and 2,167,367 at April 30, 2016		3
Common stock, $0.001 par value; shares authorized: 100,000,000 at January 31, 2017 shares issued and outstanding: 9,713,042 at January 31, 2017 and none at April 30, 2016	10
Additional paid-in capital	89,399	212
Accumulated deficit	(51,653)	(37,252)
Accumulated other comprehensive loss	(2,907)	(75)
Total stockholders’ equity (deficit)	34,849	(37,112)
Total liabilities and stockholders’ equity	$ 38,050	24,745
Redeemable Convertible Preferred Stock [Member]
Current liabilities:
Redeemable Convertible Preferred Stock, $0.0016 par value; shares issued and outstanding: None at January 31, 2017 and 24,322,898 at April 30, 2016		$ 58,608

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Jan. 31, 2017	Apr. 30, 2016
Ordinary shares, par value	$ 0.0016	$ 0.0016
Ordinary shares, issued	0	2,167,367
Ordinary shares, outstanding	0	2,167,367
Common stock, par value	$ 0.001
Common stock, shares authorized	100,000,000
Common stock, shares issued	9,713,042	0
Common stock, shares outstanding	9,713,042	0
Redeemable Convertible Preferred Stock [Member]
Redeemable convertible preferred stock, par value	$ 0.0016	$ 0.0016
Redeemable convertible preferred stock, shares issued	0	24,322,898
Redeemable convertible preferred stock, shares outstanding	0	24,322,898

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Income Statement [Abstract]
Grant income	$ 248	$ 348	$ 1,390	$ 1,850
Operating Expenses:
Research and development	3,339	3,622	9,670	10,111
General and administrative	5,026	541	8,973	1,525
Total operating expenses	8,365	4,163	18,643	11,636
Operating Loss	(8,117)	(3,815)	(17,253)	(9,786)
Other income (expense):
Interest income	7	20	31	31
Foreign currency exchange gain (loss)	(195)	1,297	1,511	2,196
Other income	661	546	1,310	1,304
Total other income (expense)	473	1,863	2,852	3,531
Net loss	(7,644)	(1,952)	(14,401)	(6,255)
Other comprehensive income (loss):
Currency translation adjustments	166	(3,622)	(2,832)	(4,529)
Comprehensive loss	$ (7,478)	$ (5,574)	$ (17,233)	$ (10,784)
Net loss per share to common stockholders, basic and diluted	$ (1.03)	$ (4.85)	$ (5.50)	$ (16.05)
Weighted average common shares outstanding, basic and diluted	7,657,874	630,921	3,013,073	576,181

Condensed Consolidated Statements of Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Carbylan Therapeutics Inc [Member]	Series B Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member] Carbylan Therapeutics Inc [Member]	Series A Convertible Preferred Stock [Member]	Series A Convertible Preferred Stock [Member] Carbylan Therapeutics Inc [Member]	Convertible Preferred Stock [Member]	Convertible Preferred Stock [Member] Carbylan Therapeutics Inc [Member]	Ordinary Shares [Member]	Ordinary Shares [Member] Carbylan Therapeutics Inc [Member]	Common Stock [Member]	Common Stock [Member] Carbylan Therapeutics Inc [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Carbylan Therapeutics Inc [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Apr. 30, 2015	$ (23,555)								$ 2				$ 94		$ (25,816)	$ 2,165
Balance, shares at Apr. 30, 2015									1,302,367
Balance at Apr. 30, 2015					$ 25,606		$ 25,606
Balance, shares at Apr. 30, 2015					15,900,000		15,900,000
Issuance of Series B preferred shares, net of issuance costs			$ 33,002				$ 33,002
Issuance of Series B preferred shares, net of issuance costs, shares			8,422,898				8,422,898
Issuance of ordinary shares	1								$ 1
Issuance of ordinary shares, shares									865,000
Stock-based compensation expense	118												118
Net loss	(11,436)														(11,436)
Currency translation adjustments	(2,240)															(2,240)
Balance at Apr. 30, 2016	(37,112)								$ 3				212		(37,252)	(75)
Balance, shares at Apr. 30, 2016									2,167,367
Balance at Apr. 30, 2016			$ 33,002		$ 25,606		$ 58,608
Balance, shares at Apr. 30, 2016			8,422,898		15,900,000		24,322,898
Issuance of ordinary shares	2								$ 2
Issuance of ordinary shares, shares									396,719
Transaction, value				$ (33,002)		$ (25,606)		$ (58,608)
Transaction, shares				(8,422,898)		(15,900,000)		(24,322,898)
Transaction, value		$ 88,964								$ (5)		$ 10		$ 88,959
Transaction, shares										(2,564,086)		9,713,042
Stock-based compensation expense	228												228
Net loss	(14,401)														(14,401)
Currency translation adjustments	(2,832)															(2,832)
Balance at Jan. 31, 2017	$ 34,849										$ 10		$ 89,399		$ (51,653)	$ (2,907)
Balance, shares at Jan. 31, 2017											9,713,042

Condensed Consolidated Statements of Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) $ in Thousands	12 Months Ended
	Apr. 30, 2016 USD ($)
Series B Preferred Stock [Member]
Stock issuance costs	$ 186,000

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Cash Flows from Operating Activities
Net loss	$ (14,401)	$ (6,255)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	29	26
Stock-based compensation	228	16
Foreign currency remeasurement gain	(1,464)	(2,230)
Changes in operating assets and liabilities:
Research and development tax credit receivable	(1,303)	(1,309)
Prepaid expenses and other current assets	(689)	(389)
Grants receivable	36	(53)
Accounts payable	(1,957)	(203)
Accrued expenses	(1,560)	(371)
Net cash used in operating activities	(21,081)	(10,768)
Cash Flows from Investing Activities
Cash acquired in transaction	34,139
Acquisition of property and equipment	(67)	(9)
Net cash provided by (used in) investing activities	34,072	(9)
Cash Flows from Financing Activities
Proceeds from issuance of redeemable convertible preferred stock		33,002
Proceeds from issuance of common stock, net	2
Net cash provided by financing activities	2	33,002
Effect of exchange rate changes on cash	(1,259)	(583)
Net increase in cash and cash equivalents	11,734	21,642
Cash and cash equivalents at beginning of period	21,764	2,526
Cash and cash equivalents at end of period	33,498	$ 24,168
Supplemental Disclosures of Non-cash Financing Activities
Conversion of preferred stock to common stock	$ 58,608

The Company

9 Months Ended

Jan. 31, 2017

Organization Consolidation And Presentation Of Financial Statements [Abstract]

The Company

1.	The Company

KalVista Pharmaceuticals, Inc. (the “Company” or “KalVista”) is a clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of small molecule serine protease inhibitors as new treatments for diseases with significant unmet need. The Company’s initial focus is on developing a portfolio of oral inhibitors of plasma kallikrein for two indications: hereditary angioedema, or HAE, and diabetic macular edema or DME. The first oral program, KVD818, is currently in Phase I clinical testing and additional programs are in preclinical development. KalVista also has developed an intravitreally administered plasma kallikrein inhibitor for DME that has completed a Phase I clinical trial and is anticipated to commence Phase II testing later in 2017. The Company’s headquarters is located in Cambridge, Massachusetts.

KalVista has devoted substantially all of its efforts to research and development, including clinical trials of its product candidates. The Company has not completed the development of any product candidates. Pharmaceutical drug product candidates, like those being developed by the Company, require approvals from the U.S. Food and Drug Administration (“FDA”) or foreign regulatory agencies prior to commercial sales. There can be no assurance that any product candidates will receive the necessary approvals and any failure to receive approval or delay in approval may have a material adverse impact on the business and financial statements of the Company. The Company has never been profitable and has not yet commenced commercial operations. KalVista is subject to a number of risks and uncertainties similar to those of other life science companies developing new products, including, among others, the risks related to the necessity to obtain adequate additional financing, to successfully develop product candidates, to obtain regulatory approval of product candidates, to comply with government regulations, to successfully commercialize its potential products, to the protection of proprietary technology and to the dependence on key individuals.

The Company has funded its operations primarily through the issuance of preferred stock and grant income. As of January 31, 2017, KalVista had an accumulated deficit of $51.7 million and $33.5 million of cash and cash equivalents. The Company’s working capital, including cash obtained through the share purchase transaction with Carbylan, is anticipated to fund the Company’s operations for at least the next twelve months from the date these interim condensed consolidated financial statements are issued. Accordingly, the unaudited interim condensed consolidated financial statements have been prepared on a going concern basis.

Summary of Significant Accounting Policies and Basis of Presentation

9 Months Ended

Jan. 31, 2017

Accounting Policies [Abstract]

Summary of Significant Accounting Policies and Basis of Presentation

2.	Summary of Significant Accounting Policies and Basis of Presentation

Basis of Presentation

The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany transactions and balances have been eliminated in consolidation.

The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Such financial statements reflect all adjustments that are, in management’s opinion, necessary to present fairly, in all material respects, the Company’s consolidated financial position, results of operations, and cash flows. There were no adjustments other than normal recurring adjustments. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual financial statements. These unaudited interim condensed consolidated financial results are not necessarily indicative of the results to be expected for the year ending April 30, 2017, or for any other future annual or interim period. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements as of and for the year ended April 30, 2016 and the related notes thereto included in the Company’s Form 8K/A filed on November 23, 2016 with the Securities and Exchange Commission. KalVista was determined to be the accounting acquirer in the reverse acquisition with Carbylan, therefore all prior periods are those of KalVista Pharmaceuticals Limited.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

Foreign Currency Translation

The functional currency of the Company’s foreign subsidiary is the Great Britain Pound Sterling. Assets and liabilities of the foreign subsidiary are translated using the exchange rate existing on each respective balance sheet date. Revenues and expenses are translated using the monthly average exchange rates prevailing throughout the year. The translation adjustments resulting from this process are included as the only component of the accumulated other comprehensive loss.

Segment Reporting

The Company manages its operations as a single operating segment for the purposes of assessing performance and making operating decisions.

Cash and Cash Equivalents

Cash and cash equivalents consist of bank deposits and money market accounts. Cash equivalents are carried at cost which approximates fair value due to their short-term nature. The Company considers all highly liquid investments with an original maturity of 90 days or less to be cash equivalents.

The Company maintains its cash and cash equivalent balances with financial institutions that management believes are creditworthy. The Company’s cash and cash equivalent accounts at times may exceed federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk of cash and cash equivalents.

Research and Development

Research and development costs consist primarily of clinical trial expenses, salaries and related expenses for personnel, and fees paid to outside consultants and outside service providers, including costs associated with licensing, milestone and grant revenue. Research and development costs are expensed as incurred.

Stock-Based Compensation

The Company maintains performance incentive plans under which stock options may be granted to employees and non-employees. The Company accounts for stock-based compensation arrangements at fair value.

The Company’s determination of the fair value of stock options on the date of grant utilizes the Black-Scholes option-pricing model, and is impacted by its common stock price as well as assumptions regarding a number of subjective variables. These variables include the expected term that options will remain outstanding, expected common stock price volatility over the term of the option awards, risk-free interest rates and expected dividends.

The fair value is recognized over the period during which an optionee is required to provide services (usually the vesting period), on a straight-line basis. Stock-based compensation expense recognized at fair value includes the impact of estimated forfeitures. The Company estimates future forfeitures at the date of grant and revises the estimates, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

Net Loss per Share Attributable to Common Stockholders

Basic and diluted net income (loss) per share is presented in conformity with the two-class method required for participating securities. Under the two-class method, basic net income (loss) per share is computed by dividing the net income (loss) attributable to common shareholders by the weighted-average number of common shares outstanding during the period. Net income (loss) attributable to common shareholders is determined by allocating undistributed earnings between holders of common and convertible preferred shares, based on the contractual dividend rights contained in our preferred share agreement. Where there is an undistributed loss, no amount is allocated to the convertible preferred shares. Diluted net income (loss) per share is computed by dividing net income (loss) by the sum of the weighted average number of common shares and the number of dilutive potential common share equivalents outstanding during the period. Potential dilutive common share equivalents consist of the incremental common shares issuable upon the exercise of vested share options or the conversion of preferred stock.

Potential dilutive common share equivalents consist of:

	January 31,
	2017		2016
Preferred Stock		—		7,080,395
Stock Options		120,127		73,640

In computing diluted earnings per share, common share equivalents are not considered in periods in which a net loss is reported, as the inclusion of the common share equivalents would be anti-dilutive. As a result, there is no difference between the Company’s basic and diluted loss per share for the periods presented.

Basic and diluted net loss per share	Three Months Ended						Nine Months Ended
	January 31,						January 31,
	2017			2016			2017			2016
Net loss	$	(7,644	)	$	(1,952	)	$	(14,401	)	$	(6,255	)
Less: dividend on Series A		(91	)		(477	)		(935	)		(1,469	)
Less: dividend on Series B		(120	)		(630	)		(1,237	)		(1,521	)
Loss available to common shareholders for the purpose of calculating basic and diluted net loss per share	$	(7,855	)	$	(3,059	)	$	(16,573	)	$	(9,245	)
Weighted average common shares, basic and diluted		7,657,874			630,921			3,013,073			576,181
Net loss per share, basic and diluted	$	(1.03	)	$	(4.85	)	$	(5.50	)	$	(16.05	)

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards update (“ASU”) 2014-09, “Revenue from Contracts with Customers,” requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. In July 2015, the FASB voted to defer the effective date for annual reporting periods beginning after December 15, 2017 (including interim reporting periods within those periods) and permitted early adoption of the standard, but not before the original effective date of December 15, 2016. The Company expects to adopt the updated standard in the first quarter of fiscal 2018. The Company has not yet selected a transition method, and is currently evaluating the effect that the updated standard will have on the financial statements and related disclosures.

In August 2014, the FASB issued Accounting Standards Update 2014-15, Presentation of Financial Statements—Going Concern, on disclosure of uncertainties about an entity’s ability to continue as a going concern. This guidance addresses management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. The guidance is effective for fiscal years beginning after December 15, 2016 and for interim periods within those fiscal years, with early adoption permitted. The Company is still evaluating the impact of this standard on its financial statements.

In February 2016, the FASB issued new lease accounting guidance in Accounting Standards Update No. 2016-02, Leases (Topic 842). Under the new guidance, lessees will be required to recognize for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Lessor accounting, however, remains largely unchanged. In addition, the new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. The new lease guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted, however, the Company does not intend to early adopt. The Company also believes that adoption of this new guidance will not have a material impact on the financial statements.

In March 2016, the FASB issued ASU No. 2016-09, Compensation –Stock Compensation (Topic 718) (“ASU 2016-09”) to require changes to several areas of employee share-based payment accounting in an effort to simplify share-based reporting. The update revises requirements in the following areas: minimum statutory withholding, accounting for income taxes and forfeitures. ASU 2016-09 is effective for annual reporting periods beginning after December 15, 2017. The Company is currently evaluating the impact that the adoption of this guidance may have on the Company’s financial statements.

Share Purchase Transaction

9 Months Ended

Jan. 31, 2017

Business Combinations [Abstract]

Share Purchase Transaction

3.	Share Purchase Transaction

On November 21, 2016, KalVista Pharmaceuticals Limited (“KalVista Limited”) completed a share purchase transaction with Carbylan Therapeutics Inc. (“Carbylan”) in an all-stock transaction whereby immediately following the transaction Carbylan’s equity holders owned 19% and KalVista Limited’s equity holders owned 81% of the combined company, respectively. As a result, Carbylan issued approximately eight million shares of common stock to the stockholders of KalVista Limited in exchange for all shares of KalVista Limited. Carbylan was a clinical-stage specialty pharmaceutical company focusing on the development of Hydros-TA, its proprietary, intra-articular injectable product candidate to treat pain associated with osteoarthritis of the knee. The combined company was renamed KalVista Pharmaceuticals, Inc. following the transaction. For accounting purposes, KalVista Limited is considered to be acquiring Carbylan in the transaction, which was determined based upon the terms of the Share Purchase Agreement and other factors including: (i) KalVista Limited security holders own approximately 81% of the voting interests of the combined company immediately following the closing of the transaction; (ii) directors appointed by KalVista Limited hold a majority of board seats in the combined company; and (iii) KalVista Limited management hold all of the key positions in the management of the combined company. As the accounting acquirer, KalVista Limited’s assets and liabilities will be recorded at their pre-combination carrying amounts and the historical operations that are reflected in the financial statements are those of KalVista Limited. The Company incurred $1.2 million and $2.9 million of expenses for the three and nine months ended January 31, 2017, respectively, related to severance, legal and other professional services in connection with the transaction.

The Company’s consolidated financial statements reflect Carbylan’s results of operations beginning after November 21, 2016. The results of operations subsequent to November 21, 2016 have not been significant.

The following table sets forth the unaudited pro forma results of operations of KalVista for the three month and year to date periods ended January 31, 2017 and 2016 as if KalVista Limited had acquired Carbylan at May 1, 2015. The pro forma information contains the combined results of actual operations for those periods. The pro forma amounts have been adjusted to eliminate costs that are nonrecurring and directly attributable to the transaction, including expenses of $3.4 million and $8.4 million for the three and nine months ended January 31, 2017, respectively, related to severance and change in control obligations, directors and officers tail insurance coverage, and legal and other professional service expenses. These pro forma amounts do not purport to be indicative of the results that would have actually been obtained if the acquisition occurred at the beginning of the period or that may be obtained in the future.

	Three Months Ended						Nine Months Ended
	January 31,						January 31,
	2017			2016			2017			2016
Total revenues	$	252		$	355		$	1,408		$	1,872
Net loss		(9,564	)		(7,035	)		(19,963	)		(21,862	)

KalVista has concluded that the transaction represents a business combination pursuant to Financial Accounting Standards Board Accounting Standards Codification Topic 805, Business Combinations. Under the acquisition method of accounting, the total purchase price is allocated to the acquired tangible and intangible assets and assumed liabilities of Carbylan based on their estimated fair values as of the transaction closing date. Carbylan had no significant commercial operations and its only significant pre-combination net assets were cash and cash equivalents, accounts payable and accrued expenses which were already recognized at fair value. Pursuant to this reverse acquisition, the Company recorded the shares of common stock held by Carbylan shareholders at the fair value of Carbylan’s net monetary assets received at November 21, 2016 as these values were considered a more reliable indicator of fair value than the trading value of the shares. No goodwill or intangible assets were recorded in the transaction.

The preliminary allocation of the total purchase price to the acquired assets and liabilities assumed of Carbylan based on the fair values as of November 21, 2016 is as follows (in thousands):

Cash and cash equivalents	$	34,139
Prepaid expenses and other current assets		70
Accounts payable, accrued expenses and other liabilities		(3,881	)
Net assets acquired	$	30,328

In connection with the share purchase transaction in November 2016, the Company modified certain options previously granted to purchase shares of KalVista Limited to instead purchase shares of KalVista Pharmaceuticals, Inc. The Company assessed the modification and determined there was no compensation expense to record related to the modification.

Accrued Expenses

9 Months Ended

Jan. 31, 2017

Payables And Accruals [Abstract]

Accrued Expenses

4.	Accrued Expenses

Accrued expenses consisted of the following as of (in thousands):

	January 31,		April 30,
	2017		2016
Accrued payroll and related expenses	$	672	$	967
Accrued research and clinical trial expenses		959		1,059
Accrued professional services		349		59
Other accrued expenses		466		29
	$	2,446	$	2,114

Commitments and Contingencies

9 Months Ended

Jan. 31, 2017

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

5.	Commitments and Contingencies

Commitments

The Company is party to several operating leases for office and laboratory space in Cambridge, Massachusetts and Salisbury, United Kingdom that expire at various times in 2017. The Company pays approximately $20,000 per month for its Cambridge spaces under a lease that expires in April 2017, at which time it can be renewed or cancelled with 30 days’ notice. The Company pays approximately $11,000 per month for its Salisbury spaces under a lease that expires in November 2017. The Company is currently evaluating alternatives for both United States and United Kingdom locations to better accommodate existing operations and future growth and anticipates entering into arrangements for new offices and laboratory locations during 2017.

Contingencies

From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of business activities. The Company accrues a liability for such matters when it is probable that such expenditures can be reasonably estimated. There are no contingent liabilities requiring accrual at January 31, 2017.

As a result of the terms of grant income received in prior years, upon successful regulatory approval and following the first commercial sale of certain products, the Company will be required to pay royalty fees of up to $1 million within 90 days of the first commercial sale of the product subject to certain limitations and follow on payments depending upon commercial success and type of product. Given the stage of development of the current pipeline of products it is not possible to predict with certainty the amount or timing of any such liability.

Grant Income

9 Months Ended

Jan. 31, 2017

Revenues [Abstract]

Grant Income

6.	Grant Income

Grant income is recognized through two agreements. The first agreement is with the Technology Strategy Board (TSB), a United Kingdom government organization. The Company recognizes revenue for reimbursements of research and development costs as the services are performed up to an agreed upon threshold. The Company records these reimbursements as revenue and not as a reduction of research and development expenses, as the Company has the risks and rewards as the principal in the research and development activities. Any services performed and not yet collected upon are shown as a receivable. During the three months ended January 31, 2017 and 2016, revenue recognized through the TSB grant amounted to $235,000 and $313,000, respectively, and amounted to $1.1 million and $1.4 million for the nine months ended January 31, 2017 and 2016, respectively.

The second agreement is with the JDRF, a non-profit organization. The Company applies the milestone method of accounting to recognize revenue from milestone payments when earned, as evidenced by written acknowledgement from the grantor and other persuasive evidence that the milestone has been achieved and the payment is non-refundable, provided that the milestone event is substantive. A milestone event is defined as an event (i) that can only be achieved based in whole or in part on either the Company’s performance or on the occurrence of a specific outcome resulting from the Company’s performance; (ii) for which there is substantive uncertainty at the inception of the arrangement that the event will be achieved; and (iii) that would result in additional payments being due to the Company. Events for which the occurrence is either contingent solely upon the passage of time or the result of a counterparty’s performance are not considered to be milestone events. A milestone event is substantive if all of the following conditions are met: (i) the consideration is commensurate with either the Company’s performance to achieve the milestone, or the enhancement of the value to the delivered item(s) as a result of a specific outcome resulting from the Company’s performance to achieve the milestone; (ii) the consideration relates solely to past performance; and (iii) the consideration is reasonable relative to all the deliverables and payment terms (including other potential milestone consideration) within the arrangement.

The Company assesses whether a milestone is substantive at the inception of the arrangement. If a milestone is deemed non-substantive, the Company accounts for that milestone payment in accordance with the multiple element arrangements guidance and recognizes revenue consistent with the related units of accounting for the arrangement over the related performance period.

The Company has one contract in process with JDRF accounted for under the milestone method. Milestones may include, for example, the successful completions of clinical trials, development of certain reports, and different review/approval processes. All milestones under the contract in process were deemed substantive based on the fact that the payments are commensurate with the Company’s efforts to achieve the milestone event and the milestones are related to past performance and are non-refundable. During the three months ended January 31, 2017 and 2016, revenue recognized through the achievement of multiple milestones amounted to $0 and $0, respectively, and amounted to $194,000 and $293,000 for the nine months ended January 31, 2017 and 2016, respectively. The last milestone in the JDRF contract was met in May 2016 and no additional revenue is due from this contract. There are no performance, cancellation, termination or refund provisions in the arrangement that contain material financial consequences to the Company.

The Company evaluates the terms of sponsored research agreement grants and federal grants to assess the Company’s obligations and if the Company’s obligations are satisfied by the passage of time, revenue is recognized as described above. For grants with refund provisions, the Company reviews the grant to determine the likelihood of repayment. If the likelihood of repayment of the grant is determined to be remote, the grant is recognized as revenue. If the probability of repayment is determined to be more than remote, the Company records the grant as a deferred revenue liability, until such time that the grant requirements have been satisfied.

Income Taxes

9 Months Ended

Jan. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

7.	Income Taxes

The Company generated a net loss for the three and nine months ended January 31, 2017 and incurred no tax expense for the three and nine months ended January 31, 2017. The Company’s effective tax rate is 0% for income tax for the three and nine months ended January 31, 2017 and the Company expects that its effective tax rate for the full fiscal 2017 year will be 0%. Based on the weight of available evidence, including cumulative losses since inception and expected future losses, the Company has determined that it is more likely than not that the deferred tax asset amount will not be realized and therefore a valuation allowance has been provided on net deferred tax assets.

The Company has substantial net operating loss carry forwards available to offset future taxable income for federal and state income tax purposes. Our ability to utilize our net operating losses is limited due to changes in our ownership as defined by Section 382 of the Internal Revenue Code (the “Code”). Under the provisions of Sections 382 and 383 of the Code, a change of control, as defined in the Code, imposes an annual limitation on the amount of the Company’s net operating loss and tax credit carryforwards, and other tax attributes that can be used to reduce future tax liabilities. We determined that an ownership change occurred as a result of the Company’s acquisition in November 2016. As a result of the November 2016 ownership change, the Company will be limited to utilizing approximately $278,000 of pre-ownership change U.S. federal and California NOLs annually for each of the next 20 years, thereby limiting pre-ownership change net operating loss carryovers to only $5.5 million for both U.S. federal and California purposes. Furthermore, none of the Company’s federal R&D credit carryforwards will be available due to the Section 383 limitations. Because California R&D credit carryforwards never expire, none of the California R&D credit carryforwards will expire unutilized, but all of the pre-ownership change California R&D credit carryforwards will be subject to a $24,000 annual limitation.

The Company files tax returns in the United Kingdom as well as U.S. Federal and State of California and Massachusetts tax returns. The Company is not currently subject to any income tax examinations. Since the Company’s inception, the Company has incurred losses from operations, which generally allows all tax years to remain open.

Uncertain Tax Positions

The Company recognizes the financial statement effects of a tax position when it becomes more likely than not, based upon the technical merits, that the position will be sustained upon examination. The gross amount of unrecognized tax benefits as of January 31, 2017 is approximately $333,000 related to the unrecognized tax benefit on R&D credits, none of which will affect the effective tax rate if recognized due to the valuation allowance. The Company does not expect any material changes in the next 12 months in unrecognized tax benefits.

The Company recognizes interest and/or penalties related to uncertain tax positions. To the extent accrued interest and penalties do not ultimately become payable, amounts accrued will be reduced and reflected in the period that such determination is made. The interest and penalties are recognized as other expense and not tax expense. The Company currently has no interest and penalties related to uncertain tax positions.

Summary of Significant Accounting Policies and Basis of Presentation (Policies)

9 Months Ended

Jan. 31, 2017

Accounting Policies [Abstract]

Basis of Presentation

Use of Estimates

Foreign Currency Translation

Segment Reporting

The Company manages its operations as a single operating segment for the purposes of assessing performance and making operating decisions.

Cash and Cash Equivalents

Research and Development

Stock-Based Compensation

Net Loss per Share Attributable to Common Stockholders

Potential dilutive common share equivalents consist of:

	January 31,
	2017		2016
Preferred Stock		—		7,080,395
Stock Options		120,127		73,640

Basic and diluted net loss per share	Three Months Ended						Nine Months Ended
	January 31,						January 31,
	2017			2016			2017			2016
Net loss	$	(7,644	)	$	(1,952	)	$	(14,401	)	$	(6,255	)
Less: dividend on Series A		(91	)		(477	)		(935	)		(1,469	)
Less: dividend on Series B		(120	)		(630	)		(1,237	)		(1,521	)
Loss available to common shareholders for the purpose of calculating basic and diluted net loss per share	$	(7,855	)	$	(3,059	)	$	(16,573	)	$	(9,245	)
Weighted average common shares, basic and diluted		7,657,874			630,921			3,013,073			576,181
Net loss per share, basic and diluted	$	(1.03	)	$	(4.85	)	$	(5.50	)	$	(16.05	)

Recent Accounting Pronouncements

Summary of Significant Accounting Policies and Basis of Presentation (Tables)

9 Months Ended

Jan. 31, 2017

Accounting Policies [Abstract]

Schedule of Potential Dilutive Common Share Equivalents

Potential dilutive common share equivalents consist of:

	January 31,
	2017		2016
Preferred Stock		—		7,080,395
Stock Options		120,127		73,640

Schedule of Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share	Three Months Ended						Nine Months Ended
	January 31,						January 31,
	2017			2016			2017			2016
Net loss	$	(7,644	)	$	(1,952	)	$	(14,401	)	$	(6,255	)
Less: dividend on Series A		(91	)		(477	)		(935	)		(1,469	)
Less: dividend on Series B		(120	)		(630	)		(1,237	)		(1,521	)
Loss available to common shareholders for the purpose of calculating basic and diluted net loss per share	$	(7,855	)	$	(3,059	)	$	(16,573	)	$	(9,245	)
Weighted average common shares, basic and diluted		7,657,874			630,921			3,013,073			576,181
Net loss per share, basic and diluted	$	(1.03	)	$	(4.85	)	$	(5.50	)	$	(16.05	)

Share Purchase Transaction (Tables)

9 Months Ended

Jan. 31, 2017

Business Combinations [Abstract]

Unaudited Pro Forma Results of Operations

	Three Months Ended						Nine Months Ended
	January 31,						January 31,
	2017			2016			2017			2016
Total revenues	$	252		$	355		$	1,408		$	1,872
Net loss		(9,564	)		(7,035	)		(19,963	)		(21,862	)

Schedule of Preliminary Allocation of Total Purchase Price to Acquired Assets and Liabilities Assumed

The preliminary allocation of the total purchase price to the acquired assets and liabilities assumed of Carbylan based on the fair values as of November 21, 2016 is as follows (in thousands):

Cash and cash equivalents	$	34,139
Prepaid expenses and other current assets		70
Accounts payable, accrued expenses and other liabilities		(3,881	)
Net assets acquired	$	30,328

Accrued Expenses (Tables)

9 Months Ended

Jan. 31, 2017

Payables And Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following as of (in thousands):

	January 31,		April 30,
	2017		2016
Accrued payroll and related expenses	$	672	$	967
Accrued research and clinical trial expenses		959		1,059
Accrued professional services		349		59
Other accrued expenses		466		29
	$	2,446	$	2,114

The Company - Additional Information (Detail) - USD ($) $ in Thousands		9 Months Ended
	Nov. 21, 2016	Jan. 31, 2017	Apr. 30, 2016	Jan. 31, 2016	Apr. 30, 2015
Organization And Basis Of Presentation [Line Items]
Percentage of voting interest owned	81.00%
Accumulated deficit		$ 51,653	$ 37,252
Cash and cash equivalents		$ 33,498	$ 21,764	$ 24,168	$ 2,526
Carbylan Therapeutics Inc. [Member]
Organization And Basis Of Presentation [Line Items]
Date of share purchase transaction		Nov. 21, 2016
Percentage of interest owned by equity holders	19.00%

Summary of Significant Accounting Policies and Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Jan. 31, 2017 USD ($)
Accounting Policies [Abstract]
Undistributed loss allocated to holders of convertible preferred shares	$ 0

Summary of Significant Accounting Policies and Basis of Presentation - Schedule of Potential Dilutive Common Share Equivalents (Detail) - shares	Jan. 31, 2017	Jan. 31, 2016
Preferred Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Number of anti-dilutive potential common share equivalents outstanding		7,080,395
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Number of anti-dilutive potential common share equivalents outstanding	120,127	73,640

Summary of Significant Accounting Policies and Basis of Presentation - Schedule of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016	Apr. 30, 2016
Earnings Per Share Basic [Line Items]
Net loss	$ (7,644)	$ (1,952)	$ (14,401)	$ (6,255)	$ (11,436)
Loss available to common shareholders for the purpose of calculating basic and diluted net loss per share	$ (7,855)	$ (3,059)	$ (16,573)	$ (9,245)
Weighted average common shares, basic and diluted	7,657,874	630,921	3,013,073	576,181
Net loss per share, basic and diluted	$ (1.03)	$ (4.85)	$ (5.50)	$ (16.05)
Series A Preferred Shares [Member]
Earnings Per Share Basic [Line Items]
Less: dividend	$ (91)	$ (477)	$ (935)	$ (1,469)
Series B Preferred Shares [Member]
Earnings Per Share Basic [Line Items]
Less: dividend	$ (120)	$ (630)	$ (1,237)	$ (1,521)

Share Purchase Transaction - Additional Information (Detail) - USD ($) shares in Millions		1 Months Ended	3 Months Ended	9 Months Ended
	Nov. 21, 2016	Nov. 30, 2016	Jan. 31, 2017	Jan. 31, 2017
Business Acquisition [Line Items]
Percentage of voting interest owned	81.00%
Expenses related to severance, legal and other professional services			$ 1,200,000	$ 2,900,000
Compensation expense related to modification		$ 0
Carbylan Therapeutics Inc [Member]
Business Acquisition [Line Items]
Date of share purchase transaction				Nov. 21, 2016
Percentage of interest owned by equity holders	19.00%
Common shares issued to stockholders	8
Share purchase transaction related expenses			$ 3,400,000	$ 8,400,000
Goodwill	$ 0
Intangible assets	$ 0

Share Purchase Transaction - Unaudited Pro Forma Results of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Business Acquisition Pro Forma Information [Abstract]
Total revenues	$ 252	$ 355	$ 1,408	$ 1,872
Net loss	$ (9,564)	$ (7,035)	$ (19,963)	$ (21,862)

Share Purchase Transaction - Schedule of Preliminary Allocation of Total Purchase Price to Acquired Assets and Liabilities Assumed (Detail) - Carbylan Therapeutics Inc [Member] $ in Thousands	Nov. 21, 2016 USD ($)
Business Acquisition [Line Items]
Cash and cash equivalents	$ 34,139
Prepaid expenses and other current assets	70
Accounts payable, accrued expenses and other liabilities	(3,881)
Net assets acquired	$ 30,328

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jan. 31, 2017	Apr. 30, 2016
Payables And Accruals [Abstract]
Accrued payroll and related expenses	$ 672	$ 967
Accrued research and clinical trial expenses	959	1,059
Accrued professional services	349	59
Other accrued expenses	466	29
Total accrued expenses	$ 2,446	$ 2,114

Commitments and Contingencies - Additional Information (Detail)	9 Months Ended
	Jan. 31, 2017 USD ($)
Maximum [Member]
Other Commitments [Line Items]
Royalty payable upon completion of first commercial sale	$ 1,000,000
Royalty payment obligations expiration period	90 days
Indemnification Guarantee [Member]
Other Commitments [Line Items]
Contingent liabilities	$ 0
Cambridge, United Kingdom [Member]
Other Commitments [Line Items]
Lease payment per month	$ 20,000
Lease expiration period	2017-04
Lease renewal or cancellation notice Period	30 days
Salisbury, United Kingdom [Member]
Other Commitments [Line Items]
Lease payment per month	$ 11,000
Lease expiration period	2017-11

Grant Income - Additional Information (Detail)	1 Months Ended	3 Months Ended		9 Months Ended
Grant Income - Additional Information (Detail)	May 31, 2016 USD ($)	Jan. 31, 2017 USD ($)	Jan. 31, 2016 USD ($)	Jan. 31, 2017 USD ($) Agreement	Jan. 31, 2016 USD ($)
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Number of grant income agreements \| Agreement				2
Revenue recognized		$ 248,000	$ 348,000	$ 1,390,000	$ 1,850,000
Technology Strategy Board (TSB) [Member]
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Revenue recognized		235,000	313,000	1,100,000	1,400,000
JDRF [Member]
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Revenue recognized through achievement of multiple milestones	$ 0	$ 0	$ 0	$ 194,000	$ 293,000

Income Taxes - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Nov. 30, 2016	Jan. 31, 2017	Jan. 31, 2017	Apr. 30, 2017
Operating Loss Carryforwards [Line Items]
Income tax expense		$ 0	$ 0
Effective income tax rate		0.00%	0.00%
Gross unrecognized tax benefits related unrecognized tax benefit on R&D credits		$ 333,000	$ 333,000
Material changes in the next twelve months in unrecognized tax benefits		$ 0	0
Interest and penalties related to uncertain tax positions			$ 0
U.S. Federal [Member]
Operating Loss Carryforwards [Line Items]
Net operating losses carryovers amount annually limited by pre-ownership change	$ 278,000
Net operating losses carryovers amount limited by pre-ownership change	$ 5,500,000
Operating loss carryforwards pre-ownership change limited period	20 years
U.S. Federal [Member] \| Research and Development [Member]
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards amount limited by pre-ownership change	$ 0
California [Member]
Operating Loss Carryforwards [Line Items]
Net operating losses carryovers amount annually limited by pre-ownership change	278,000
Net operating losses carryovers amount limited by pre-ownership change	$ 5,500,000
Operating loss carryforwards pre-ownership change limited period	20 years
California [Member] \| Research and Development [Member]
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards amount limited by pre-ownership change	$ 24,000
Forecast [Member]
Operating Loss Carryforwards [Line Items]
Effective income tax rate				0.00%