XML 85 R44.htm IDEA: XBRL DOCUMENT v3.23.3
Share-Based Compensation (Tables)
12 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes the components of share-based compensation expense in the Consolidated Statements of Operations (in thousands):

    

Year Ended

June 30, 

    

2023

    

2022

Research and development

$

149

$

182

General and administrative

 

2,714

 

3,776

Total

$

2,863

$

3,958

Schedule of Stock Option Activity

The following table summarizes all stock option activity during the years ended June 30, 2023 and 2022:

    

    

    

Weighted-

    

Weighted-

average

average

Remaining

Aggregate

Stock

Exercise

Contractual

Intrinsic Value

    

Options

    

Price

    

Term (in years)

    

(in thousands)

Outstanding as of July 1, 2021

 

341,686

$

32.75

 

8.8

$

1,995

Granted

 

313,568

27.50

 

 

Exercised

(3,380)

22.75

Forfeited/expired

 

(30,068)

35.00

 

 

Outstanding as of June 30, 2022

 

621,806

$

30.00

 

8.3

$

As of June 30, 2022, vested and expected to vest

 

620,810

$

30.00

 

8.3

$

Exercisable as of June 30, 2022

 

197,404

$

29.25

 

6.7

$

Outstanding as of June 30, 2022

 

621,806

$

30.00

 

8.3

$

Granted

 

307,863

7.06

 

 

Exercised

Forfeited/expired

 

(637,191)

23.96

 

 

Outstanding as of June 30, 2023

 

292,478

$

19.18

 

8.5

$

As of June 30, 2023, vested and expected to vest

 

292,431

$

19.18

8.5

$

Exercisable as of June 30, 2023

 

96,050

$

29.17

 

7.9

$

Schedule of Stock Options Outstanding and Exercisable

The following table summarizes information about options outstanding and exercisable at June 30, 2023:

    

Options Outstanding and Exercisable

Weighted-

Weighted-

Average

Average

Number

Remaining Life

Exercise

Number

Outstanding

    

In Years

    

Price

    

Exercisable

Exercise prices:

 

  

 

  

 

  

 

  

$7.00 - $11.50

 

151,309

 

9.1

$

7.51

 

6,250

$17.35 - $26.03

 

29,674

 

7.9

$

18.00

 

29,652

$26.50 - $39.75

95,495

7.9

$

33.08

47,483

$41.25 - $61.88

16,000

7.4

$

48.75

12,665

 

292,478

 

8.3

$

28.31

 

96,050

Schedule of Fair Value of Options Granted using the Black-Scholes Option Pricing Model

    

2023

2022

Weighted average risk-free interest rate

3.21% - 3.61

%  

0.80 - 2.52

%

Dividend yield

 

0

%  

0

%

Volatility

 

115.52 - 116.93

%  

119.16 - 120.34

%

Expected term (in years)

 

7

 

6