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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (15,378) $ (14,524)  
Share-based compensation expense 1,400 1,849  
Loss from change in fair value of embedded derivative liability 15 14  
Non-cash lease expense 129 122  
Accretion of discounts and amortization of premiums on marketable debt securities, net (832) 973  
Depreciation expense 8 10  
Realized gain from investments (2)    
Changes in operating assets and liabilities:      
Increase in prepaid expenses, deposits, and other assets (108) (902)  
Decrease in accounts payable (2,194) (836)  
Increase in accrued liabilities 948 2,709  
Net Cash Used in Operating Activities (16,014) (10,585) $ (57,400)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchase of marketable debt securities (73,238) (15,989)  
Proceeds from maturities of marketable debt securities 23,828 18,595  
Total Cash Provided by (Used in) Investing Activities (49,410) 2,606  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from exercise of stock options 76    
Gross proceeds from issuance of common stock in 2024 Private Placement 6,000    
Payment of offering costs (576)    
Net Cash Provided by Financing Activities 5,500    
Net decrease in cash and cash equivalents (59,924) (7,979)  
Cash and cash equivalents at beginning of period 70,396 16,036 16,036
Cash and cash equivalents at end of period 10,472 8,057 $ 70,396
SUPPLEMENTARY CASH FLOW INFORMATION:      
Cash paid for amounts included in the measurement of operating lease liabilities 184 $ 171  
NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Payables for offering costs 18    
Receivable from exercise of stock options $ 17