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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
REVENUES:        
Contract revenue $ 10,823,748 $ 0 $ 10,823,748 $ 0
OPERATING EXPENSES:        
Research and development 9,062,316 10,676,342 28,422,975 32,546,363
General and administrative 4,773,696 1,409,406 7,289,342 3,965,460
Total operating expenses 13,836,012 12,085,748 35,712,317 36,511,823
Loss from operations (3,012,264) (12,085,748) (24,888,569) (36,511,823)
OTHER INCOME (EXPENSE):        
Interest income 6,304 15,062 18,940 39,036
Interest expense (558,702) (625,832) (1,777,222) (1,883,334)
Total other income (expense), net (552,398) (610,770) (1,758,282) (1,844,298)
NET LOSS $ (3,564,662) $ (12,696,518) $ (26,646,851) $ (38,356,121)
Basic and diluted net loss per common share $ (0.02) $ (0.08) $ (0.15) $ (0.25)
Weighted average number of common shares outstanding used in computing basic and diluted net loss per common share 196,580,519 156,368,617 179,841,133 156,301,259