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Fair Value Measurements (Tables)

6 Months Ended

Dec. 31, 2018

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

The following tables summarize the Company’s assets and liabilities carried at fair value measured on a recurring basis at December 31, 2018, June 30, 2018 and 2017 by valuation hierarchy (in thousands):

		December 31, 2018
Description		Total Carrying Value				Quoted prices in active markets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
Assets:
Cash equivalents		$	43,194			$	43,194			$	—			$	—
		$	43,194			$	43,194			$	—			$	—

		June 30, 2018
Description		Total Carrying Value				Quoted prices in active markets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
Assets:
Cash equivalents		$	28,826			$	28,826			$	—			$	—
		$	28,826			$	28,826			$	—			$	—
Liabilities:
Derivative liabilities		$	19,780			$	—			$	—			$	19,780
		$	19,780			$	—			$	—			$	19,780

		June 30, 2017
Description		Total Carrying Value				Quoted prices in active markets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
Assets:
Cash equivalents		$	13,521			$	13,521			$	—			$	—
		$	13,521			$	13,521			$	—			$	—

Summary of Changes in the Fair Value of the Company's Derivative Liability

The following table sets forth a summary of changes in the fair value of the Company’s derivative liabilities for which fair value is determined by Level 3 inputs for the year ended June 30, 2018 and for the six months ended December 31, 2018 (in thousands):

		Second Tranche Transaction Liability				Additional Advance Warrant Liability				Second Tranche Warrants Liability				Total
Balance at July 1, 2017		$	—			$	—			$	—			$	—
Initial fair value of derivative liability			4,734				69				18,165				22,968
Change in fair value			24,319				18				1,615				25,952
Reclassification to equity			—				(87	)			—				(87	)
Settlement			(29,053	)			—				—				(29,053	)
Balance at June 30, 2018			—				—				19,780				19,780
Change in fair value			—				—				18,886				18,886
Reclassification to equity			—				—				(38,666	)			(38,666	)
Balance at December 31, 2018		$	—			$	—			$	—			$	—

Additional Advance Warrant Liability [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Assumptions Used to Value Liability

Significant assumptions used to value this liability were as follows:

		March 28, 2018 (Date of Issuance)				June 25, 2018 (Date of Reclassification to Equity)
Volatility			55.20	%			55.10	%
Risk free interest rate			1.70	%			2.80	%
Term (in years)			7				7
Dividend rate			0	%			0	%
Valuation date stock price		$	1.07			$	1.93
Probability of issuance			80	%			100	%

Second Tranche Transaction Liability [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Assumptions Used to Value Liability

Significant assumptions used to value this liability were as follows:

		March 28, 2018 (Date of Issuance)				June 25, 2018 (Date of Settlement)
Volatility			54.20	%			N/A
Risk free interest rate			1.70	%			N/A
Estimated date of stockholder approval			June 2018				N/A
Estimated number of units issuable			26,900,000				20,184,224
Valuation date stock price		$	1.07			$	1.93

Second Tranche Warrants [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Assumptions Used to Value Liability

Significant assumptions used to value this liability were as follows:

		June 25, 2018 (Date of issuance)				June 30, 2018
Volatility			81.00	%			85.40	%
Risk free interest rate			2.10	%			2.10	%
Term (in years)			0.5				0.5
Dividend rate			0	%			0	%
Valuation date stock price		$	2.00			$	2.08
Probability of issuance			100	%			100	%

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Tabular disclosure of those significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

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