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LICENSE AGREEMENT	9 Months Ended
Dec. 31, 2021
License Agreement
LICENSE AGREEMENT	NOTE 10 LICENSE AGREEMENT On January 23, 2019, the Company entered into an agreement for commercial rights (the “Circassia Agreement”) with Circassia Limited and its affiliates (collectively, “Circassia”) for PPHN and future related indications at concentrations of < 80 ppm in the hospital setting in the United States and China. On December 18, 2019, the Company terminated the Circassia Agreement. On May 25, 2021, the Company entered into a settlement with Circassia, see Note 14. As of March 31, 2021, the Company met its performance obligation under the Circassia Agreement and revenue therefrom has been previously recognized. License revenue of $0 and $149 thousand associated with the Company’s second performance obligation has been recognized for the three months ended December 31, 2021 and December 31, 2020, respectively. License revenue of $0 and $728 thousand associated with the Company’s second performance obligation has been recognized for the nine months ended December 31, 2021 and December 31, 2020, respectively.

LICENSE AGREEMENT

9 Months Ended

Dec. 31, 2021

NOTE 10 LICENSE AGREEMENT

On January 23, 2019, the Company entered into an agreement for commercial rights (the “Circassia Agreement”) with Circassia Limited and its affiliates (collectively, “Circassia”) for PPHN and future related indications at concentrations of < 80 ppm in the hospital setting in the United States and China. On December 18, 2019, the Company terminated the Circassia Agreement. On May 25, 2021, the Company entered into a settlement with Circassia, see Note 14.

As of March 31, 2021, the Company met its performance obligation under the Circassia Agreement and revenue therefrom has been previously recognized. License revenue of $0 and $149 thousand associated with the Company’s second performance obligation has been recognized for the three months ended December 31, 2021 and December 31, 2020, respectively. License revenue of $0 and $728 thousand associated with the Company’s second performance obligation has been recognized for the nine months ended December 31, 2021 and December 31, 2020, respectively.