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Note 3 - Available-For-Sale Investments | 12 Months Ended
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Jun. 30, 2015
Notes to Financial Statements |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3. Available-For-Sale Investments: At June 30, 2015 and 2014, the amortized cost and market value of the Company’s available-for-sale securities by major security type were as follows (in thousands):
|  | June 30, |
|  | 2015 |  |  | 20 14 |
|  | Cost |  |  | Market |  |  | Cost |  |  | Market |
State and municipal debt securities |  | $ | 0 |  |  | $ | 0 |  |  | $ | 3,525 |  |  | $ | 3,525 |
Corporate debt securities |  |  | 0 |  |  |  | 0 |  |  |  | 100 |  |  |  | 100 |
Certificates of deposit |  |  | 4,089 |  |  |  | 4,089 |  |  |  | 7,639 |  |  |  | 7,639 |
Equity securities |  |  | 29,472 |  |  |  | 52,300 |  |  |  | 29,472 |  |  |  | 37,097 |
|  | $ | 33,561 |  |  |  | 56,389 |  |  | $ | 40,736 |  |  | $ | 48,361 |
At June 30, 2015 and 2014, all of the Company’s available-for-sale debt securities were valued using Level 2 inputs, while its equity securities were valued using Level 1 inputs. Certificates of deposit are carried at cost and are not subject to the fair value hierarchy. There were no transfers between Level 1 and Level 2 securities during fiscal 2015. Gross unrealized gains on available-for-sale investments were $22.8 million and $7.6 million at June 30, 2015, and June 30, 2014, respectively. The Company’s investment in equity securities consists of investments in the common stock and warrants of ChemoCentryx, Inc. (CCXI). The warrants are to purchase 150,000 shares of CCXI common stock at $20 per share and expire in February, 2022. The fair value of the warrants as of June 30, 2015 and 2014 were $52.3 million and $37.1 million, respectively, and were valued using Level 2 inputs. At June 30, 2015, the Company holds an approximate 14% interest in CCXI. Proceeds from maturities or sales of available-for-sale securities were $13.5 million, $289 million, and $104 million during fiscal 2015, 2014, and 2013, respectively. There were no material realized gains or losses on these sales. Realized gains and losses are determined on the specific identification method.

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