FINANCIAL INSTRUMENTS AND SIGNIFICANT CONCENTRATIONS (Tables)

3 Months Ended

Sep. 30, 2024

FINANCIAL INSTRUMENTS AND SIGNIFICANT CONCENTRATIONS

Schedule of financial assets measured at fair value on a recurring basis

The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the fair value hierarchy classification as of September 30, 2024 and June 30, 2024 (in thousands):

	Fair Value Measurement of Assets as of September 30, 2024
	Total		Level 1		Level 2		Level 3
Cash and cash equivalents:
Money market funds	$	5,894	$	5,894	$	—	$	—
Marketable debt securities:
Corporate commercial paper		31,522		—		31,522		—
U.S. Government agencies		5,277		—		5,277		—
U.S. Government treasuries		13,664		—		13,664		—
Corporate notes and bonds		56,890		—		56,890		—
Total	$	113,247	$	5,894	$	107,353	$	—

	Fair Value Measurement of Assets as of June 30, 2024
	Total		Level 1		Level 2		Level 3
Cash and cash equivalents:
Money market funds	$	61,249	$	61,249	$	—	$	—
Marketable debt securities:
Corporate commercial paper		20,929		—		20,929		—
U.S. Government agencies		1,997		—		1,997		—
U.S. Government treasuries		2,720		—		2,720		—
Corporate notes and bonds		30,832		—		30,832		—
Asset-backed securities		263		—		263		—
Total	$	117,990	$	61,249	$	56,741	$	—

Schedule of changes in the fair value of the company's derivative liabilities, fair value, level 3 inputs

The following table sets forth changes in the fair value of the Company’s embedded derivative liability measured at fair value liability for the three months ended September 30, 2024 and 2023 (in thousands):

	2024		2023
Fair value, beginning of period	$	468	$	412
Changes in fair value		15		14
Fair value, end of period	$	483	$	426