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FINANCIAL INSTRUMENTS AND SIGNIFICANT CONCENTRATIONS (Tables) | 9 Months Ended
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Mar. 31, 2024
FINANCIAL INSTRUMENTS AND SIGNIFICANT CONCENTRATIONS |
Schedule of financial assets measured at fair value on a recurring basis | The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the fair value hierarchy classification as of March 31, 2024 and June 30, 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​
​ | ​ | Fair Value Measurement of Assets as of March 31, 2024
​ | ​ | Total | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
Cash and cash equivalents: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ | $ | 3,451 | ​ | $ | 3,451 | ​ | $ | — | ​ | $ | —
Marketable debt securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate commercial paper | ​ | ​ | 22,565 | ​ | ​ | — | ​ | ​ | 22,565 | ​ | ​ | —
U.S. Government agencies | ​ | ​ | 11,313 | ​ | ​ | — | ​ | ​ | 11,313 | ​ | ​ | —
U.S. Government treasuries | ​ | ​ | 995 | ​ | ​ | — | ​ | ​ | 995 | ​ | ​ | —
Corporate notes and bonds | ​ | ​ | 38,439 | ​ | ​ | — | ​ | ​ | 38,439 | ​ | ​ | —
Asset-backed securities | ​ | ​ | 2,353 | ​ | ​ | — | ​ | ​ | 2,353 | ​ | ​ | —
Total | ​ | $ | 79,116 | ​ | $ | 3,451 | ​ | $ | 75,665 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement of Assets as of June 30, 2023
​ | ​ | Total | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
Cash and cash equivalents: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ | $ | 5,464 | ​ | $ | 5,464 | ​ | $ | — | ​ | $ | —
Corporate commercial paper | ​ | ​ | 4,481 | ​ | ​ | 4,481 | ​ | ​ | — | ​ | ​ | —
Marketable debt securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate commercial paper | ​ | ​ | 41,597 | ​ | ​ | — | ​ | ​ | 41,597 | ​ | ​ | —
U.S. Government agencies | ​ | ​ | 26,394 | ​ | ​ | — | ​ | ​ | 26,394 | ​ | ​ | —
U.S. Government treasuries | ​ | ​ | 10,404 | ​ | ​ | 10,404 | ​ | ​ | — | ​ | ​ | —
Corporate notes and bonds | ​ | ​ | 19,240 | ​ | ​ | — | ​ | ​ | 19,240 | ​ | ​ | —
Asset-backed securities | ​ | ​ | 4,694 | ​ | ​ | — | ​ | ​ | 4,694 | ​ | ​ | —
Total | ​ | $ | 112,274 | ​ | $ | 20,349 | ​ | $ | 91,925 | ​ | $ | -
Schedule of changes in the fair value of the company's derivative liabilities, fair value, level 3 inputs | The following table sets forth changes in the fair value of the Company’s liabilities measured at fair value liability for the nine months ended March 31, 2024 and 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended | ​ | Nine Months Ended
​ | ​ | March 31, 2024 | ​ | March 31, 2023
​ | ​ | Warrant | ​ | Embedded |  | Warrant | ​ | Embedded
Fair value, beginning of period | ​ | $ | — | ​ | $ | 412 | ​ | $ | — | ​ | $ | 407
Warrant liability incurred on March 8, 2024 | ​ | ​ | 5,697 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Changes in fair value | ​ | ​ | 1,950 | ​ | ​ | 41 | ​ | ​ | — | ​ | ​ | 40
Fair value, end of period | ​ | $ | 7,647 | ​ | $ | 453 | ​ | $ | — | ​ | $ | 447

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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