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Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:    
Net loss $ (9,721) $ (18,102)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 1,568 2,662
Depreciation and amortization 30 31
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (285) (36)
Accounts payable (415) 444
Accrued liabilities (1,166) 1,822
Net cash used in operating activities (9,989) (13,179)
Cash flows from investing activities:    
Purchases of property and equipment   (10)
Purchases of short-term investments (35,172) (55,028)
Proceeds from maturity of short-term investments 40,113 34,993
Net cash provided by investing activities 4,941 (20,045)
Cash flows from financing activities:    
Net proceeds from issuance of common stock   43,104
Net cash provided by financing activities   43,104
Net (decrease) increase in cash and cash equivalents (5,048) 9,880
Cash and cash equivalents at beginning of the period 18,722 13,777
Cash and cash equivalents at end of the period $ 13,674 $ 23,657