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Quarterly Financial Data (unaudited)
 6 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (unaudited)
19.
Quarterly Financial Data (unaudited) 
The following tables summarize the quarterly results of operations for the six months ended December 31, 2018 and the years ended June 30, 2018 and 2017 (in thousands except per share amounts):
 
 
 
Six Months Ended December 31, 2018
 
 
 
Quarter 
Ended

September 30,

2018
 
 
Quarter 
Ended

December 31,

2018
 
 
Six Months

Ended

December 31,

2018
 
 
 
(1)
 
 
 
 
 
 
 
Total revenues
 
$
486
 
 
$
2,442
 
 
$
2,928
 
Operating loss
 
 
(13,554
)
 
 
(11,005
)
 
 
(24,559
)
Net loss
 
 
(33,126
)
 
 
(11,594
)
 
 
(44,720
)
Net loss per share - basic and diluted
 
$
(0.44
)
 
$
(0.12
)
 
$
(0.53
)
Weighted average common shares - basic and diluted
 
 
75,170
 
 
 
94,494
 
 
 
85,057
 
 
 
 
Fiscal Year 2018
 
 
 
First Quarter

Ended

September 30,

2017
 
 
Second Quarter

Ended

December 31,

2017
 
 
Third Quarter

Ended

March 31,

2018
 
 
Fourth Quarter

Ended

June 30,

2018
 
 
Year Ended

June 30,

2018
 
 
 
 
 
 
 
 
 
(1)
 
 
(1)
 
 
 
 
Total revenues
 
$
385
 
 
$
933
 
 
$
928
 
 
$
715
 
 
$
2,961
 
Operating loss
 
 
(6,006
)
 
 
(5,808
)
 
 
(4,678
)
 
 
(9,782
)
 
 
(26,274
)
Net loss
 
 
(5,983
)
 
 
(5,782
)
 
 
(6,978
)
 
 
(34,428
)
 
 
(53,171
)
Net loss per share - basic and diluted
 
$
(0.15
)
 
$
(0.13
)
 
$
(0.15
)
 
$
(0.62
)
 
$
(1.15
)
Weighted average common shares - basic and diluted
 
 
39,430
 
 
 
44,530
 
 
 
45,644
 
 
 
55,387
 
 
 
46,226
 
 
 
 
 
Fiscal Year 2017
 
 
 
First Quarter

Ended

September 30,

2016
 
 
Second Quarter

Ended

December 31,

2016
 
 
Third Quarter

Ended

March 31,

2017
 
 
Fourth Quarter

Ended

June 30,

2017
 
 
Year Ended

June 30,

2017
 
 
 
 
 
 
(2)
 
 
 
 
 
 
 
 
 
 
Total revenues
 
$
277
 
 
$
5,971
 
 
$
590
 
 
$
701
 
 
$
7,539
 
Operating loss
 
 
(7,186
)
 
 
(94
)
 
 
(5,160
)
 
 
(6,136
)
 
 
(18,576
)
Net loss
 
 
(7,162
)
 
 
(67
)
 
 
(5,140
)
 
 
(6,116
)
 
 
(18,485
)
Net loss per share - basic and diluted
 
$
(0.21
)
 
$
—
 
 
$
(0.15
)
 
$
(0.16
)
 
$
(0.52
)
Weighted average common shares - basic and diluted
 
 
34,175
 
 
 
34,177
 
 
 
34,366
 
 
 
38,673
 
 
 
35,344
 
 
 
(1)
Results for the quarter ended September 30, 2018 and each of the third and fourth quarters of fiscal 2018 included $18.9 million, $2.3 million and $24.0 million, respectively, of change in fair value of derivative liability in connection with the Second Tranche Transaction (see Notes 11 and 13). The fourth quarter of fiscal 2018 includes an out-of-period expense of $1.2 million reflecting the increase in the fair value of the Company’s derivative liability which occurred, but was not recorded, in the third quarter of fiscal 2018.
(2)
Results for the second quarter of fiscal 2017 included $5.6 million of revenue recognized as a result of the December 2016 termination of the Company’s Restated Pfizer Agreement (see Note 4).