Non-financial Assets and Liabilities

3 Months Ended

Sep. 30, 2022

Disclosure Of Non Financial Assets And Liabilities [Abstract]

6. Non-financial assets and liabilities

a.	Intangible assets

(in U.S. dollars, in thousands)	Goodwill		Acquired licenses to patents			In-process research and development acquired			Current marketed products			Total
Year Ended June 30, 2022
Opening net book amount		134,453		2,072			427,779			16,242			580,546
Additions/(reversals)		—		(450	)		—			—			(450	)
Exchange differences		—		74			—			1			75
Amortization charge		—		(64	)		—			(1,455	)		(1,519	)
Closing net book amount		134,453		1,632			427,779			14,788			578,652

As of June 30, 2022
Cost		134,453		2,987			489,698			24,000			651,138
Accumulated amortization		—		(1,355	)		—			(9,212	)		(10,567	)
Accumulated impairment		—		—			(61,919	)		—			(61,919	)
Net book amount		134,453		1,632			427,779			14,788			578,652

Three Months Ended September 30, 2022
Opening net book amount		134,453		1,632			427,779			14,788			578,652
Additions/(reversals)		—		—			—			—			—
Exchange differences		—		—			—			—			—
Amortization charge		—		(13	)		—			(364	)		(377	)
Closing net book amount		134,453		1,619			427,779			14,424			578,275

As of September 30, 2022
Cost		134,453		2,961			489,698			24,000			651,112
Accumulated amortization		—		(1,342	)		—			(9,576	)		(10,918	)
Accumulated impairment		—		—			(61,919	)		—			(61,919	)
Net book amount		134,453		1,619			427,779			14,424			578,275

(i) Carrying value of in-process research and development acquired by product

	As of September 30,		As of June 30,
(in U.S. dollars, in thousands)	2022		2022
Cardiovascular products⁽¹⁾		254,351		254,351
Intravenous products for metabolic diseases and inflammatory/immunologic conditions⁽²⁾		70,730		70,730
MSC products⁽³⁾		102,698		102,698
		427,779		427,779

(1)	Includes MPC-150-IM for the treatment or prevention of chronic heart failure and MPC-25-IC for the treatment or prevention of acute myocardial infarction

(2)	Includes MPC-300-IV for the treatment of biologic-refractory rheumatoid arthritis and diabetic nephropathy

(3)	Includes remestemcel-L for the treatment of children with SR-aGVHD and remestemcel-L for the treatment of Crohn’s disease

For all products included within the above balances, the underlying currency of each item recorded is US$.

During the quarter ended September 30, 2022, no impairment indicators for the in-process research and development and goodwill were identified.

b.	Provisions

	As of						As of
	September 30, 2022						June 30, 2022
(in U.S. dollars, in thousands)	Current		Non-current		Total		Current		Non-current		Total
Contingent consideration		11,685		9,816		21,501		10,823		12,461		23,284
Employee benefits		4,020		37		4,057		3,333		62		3,395
Provision for license agreements		3,750		—		3,750		3,750		—		3,750
		19,455		9,853		29,308		17,906		12,523		30,429

(i) Information about individual provisions and significant estimates

Contingent consideration

The contingent consideration provision relates to the Group’s liability for certain milestones and royalty achievements pertaining to the acquired MSC assets from Osiris. Further disclosures can be found in Note 5(e)(iii).

Employee benefits

The provision for employee benefits relates to the Group’s liability for annual leave, short term incentives and long service leave.

Employee benefits include accrued annual leave. As at September 30, 2022 and June 30, 2022, the entire amount of the annual leave accrual was $1.0 million and $1.0 million respectively, and is presented as current, since the Group does not have an unconditional right to defer settlement for any of these obligations.

(ii) Movements

The contingent consideration provision relates to the Group’s liability for certain milestones and royalty achievements. Refer to Note 5(e)(iii) for movements in contingent consideration for the period ended September 30, 2022 and June 30, 2022.

c.	Deferred tax balances

(i) Deferred tax balances

	As of September 30,		As of June 30,
(in U.S. dollars, in thousands)	2022		2022
Deferred tax assets
The balance comprises temporary differences attributable to:
Tax losses		79,813		80,411
Other temporary differences		8,368		7,831
Total deferred tax assets		88,181		88,242

Deferred tax liabilities
The balance comprises temporary differences attributable to:
Intangible assets		88,181		88,242
Total deferred tax liabilities		88,181		88,242
Net deferred tax liabilities		—		—

(ii) Movements

(in U.S. dollars, in thousands)	Tax losses⁽¹⁾ (DTA)			Other temporary differences⁽¹⁾ (DTA)			Intangible assets (DTL)			Total (DTL)
As of June 30, 2021		(71,916	)		(8,248	)		80,164			—
Charged/(credited) to:
- profit or loss		(8,742	)		425			8,078			(239	)
- directly to equity		247			(8	)		—			239
As of June 30, 2022		(80,411	)		(7,831	)		88,242			—
Charged/(credited) to:
- profit or loss		543			(537	)		(61	)		(55	)
- directly to equity		55			—			—			55
As of September 30, 2022		(79,813	)		(8,368	)		88,181			—

(1)	Deferred tax assets are netted against deferred tax liabilities