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Share-Based Payment Awards (Tables)

6 Months Ended

Dec. 31, 2018

The following table provides a reconciliation of stock option activity under the Company’s equity incentive plans for the six months ended December 31, 2018:

	Number of options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
						(in years)		(in thousands)
Outstanding at July 1, 2018		6,460,244		$	2.79
Granted		361,483			2.40
Exercised		(200,000	)		1.10
Forefeited		(10,600	)		2.76
Expired		(156,750	)		2.85
Outstanding at December 31, 2018		6,454,377		$	2.82		7.18	$	189
Exercisable at December 31, 2018		2,959,475		$	3.47		5.00	$	53

Schedule of Key Assumptions Used

The key assumptions used to apply the option pricing model for options granted under the 2016 Plan during the six months ended December 31, 2018 and the years ended June 30, 2018, 2017 and 2016 were as follows:

	Six Months Ended December 31,		Year Ended June 30,
	2018		2018		2017		2016
Option life (in years)		5.50 - 6.00		5.50 - 6.00		5.50 - 6.25		5.50 - 6.25
Stock volatility		59% - 61%		59% - 64%		70% - 72%		76% - 80%
Risk-free interest rate		2.78% - 3.09%		2.18% - 2.89%		1.23% - 2.08%		1.47% - 1.97%
Expected dividends		0.0%		0.0%		0.0%		0.0%

Summary of Information about Stock Options

The following table summarizes information about employee, consultant and director stock options under the Company’s equity incentive plans for the six months ended December 31, 2018 and the years ended June 30, 2018, 2017 and 2016 (in thousands except per share amounts):

	Six Months Ended December 31,		Year Ended June 30,
	2018		2018		2017		2016
Weighted-average grant date fair value per share	$	1.37	$	1.06	$	1.95	$	2.74
Total cash received from exercise of stock options		219		503		99		490
Total intrinsic value of stock options exercised		284		152		53		967

Summary of Restricted Stock Unit Activity

The following table provides a reconciliation of RSU activity under the 2016 Plan for the six months ended December 31, 2018:

	Number of Restricted Stock Units			Weighted Average Grant Date Fair Value
Nonvested at July 1, 2018		898,129		$	1.58
Vested		(305,616	)		1.05
Forfeited		(2,300	)		1.81
Nonvested at December 31, 2018		590,213		$	1.86

Summary of Performance Stock Unit Activity

The following table provides a reconciliation of PSU activity under the 2016 Plan for the six months ended December 31, 2018:

	Number of Performance Stock Units			Weighted Average Grant Date Fair Value
Nonvested at July 1, 2018		241,668		$	1.52
Vested		(96,668	)		1.52
Nonvested at December 31, 2018		145,000		$	1.52

Compensation Expense from Stock-Based Payment Awards

The Company’s statements of comprehensive loss included total compensation expense from stock-based payment awards as follows (in thousands):

	Six Months Ended December 31,		Year Ended June 30,
	2018		2018		2017		2016
Compensation expense included in:
Research and development	$	913	$	1,252	$	1,109	$	702
Sales and marketing		325		50		—		—
General and administrative		1,312		1,402		1,347		1,461
	$	2,550	$	2,704	$	2,456	$	2,163

Summary of Deferred Stock Unit Activity

The following table provides a reconciliation of DSU activity under the 2016 Plan for the six months ended December 31, 2018:

	Number of Deferred Stock Units		Weighted Average Grant Date Fair Value
Nonvested at July 1, 2018		35,001	$	1.95
Granted		417		2.32
Nonvested at December 31, 2018		35,418	$	1.95

2016 Incentive Plan [Member]

Summary of Performance Stock Unit Activity

The following table provides a reconciliation of the Company’s inducement stock option awards for the six months ended December 31, 2018:

	Number of options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
						(in years)		(in thousands)
Outstanding at July 1, 2018		1,290,000		$	3.06
Granted		835,000			2.14
Exercised		(162,291	)		1.95
Forfeited		(250,000	)		1.95
Expired		(27,709	)		1.95
Outstanding at December 31, 2018		1,685,000		$	2.89		8.71	$	—
Exercisable at December 31, 2018		425,000		$	3.63		7.71	$	—

Employee Inducement Option Awards [Member]

Schedule of Key Assumptions Used

The key assumptions used to apply the option pricing model for inducement options granted during the six months ended December 31, 2018 and the years ended June 30, 2018 and 2017 were as follows:

	Six Months Ended December 31,		Year Ended June 30,
	2018		2018		2017
Option life (in years)		6.00		5.50 – 6.00		5.50 – 6.25
Stock volatility		59% – 61%		60% – 62%		70%
Risk-free interest rate		2.81% – 2.94%		2.88% – 2.91%		2.13%
Expected dividends		0.0%		0.0%		0.0%

Summary of Information about Stock Options

The following table summarizes information about employee inducement option awards 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,		Year Ended June 30,
	2018		2018		2017
Weighted-average grant date fair value per share	$	1.24	$	1.14	$	0.84
Total cash received from exercise of stock options		317		—		—
Total intrinsic value of stock options exercised		44		—		—