| Schedule of financial assets measured at fair value on a recurring basis |
The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicates the fair value hierarchy classification as of December 31, 2025 and June 30, 2025 (in thousands): | | | | | | | | | | | | | | | | | | Fair Value Measurement of Assets as of December 31, 2025 | | | Total | | Level 1 | | Level 2 | | Level 3 | Cash and cash equivalents: | | | | | | | | | | | | | Money market funds | | $ | 8,126 | | $ | 8,126 | | $ | — | | $ | — | Marketable debt securities: | | | | | | | | | | | | | Corporate commercial paper | | | 40,452 | | | — | | | 40,452 | | | — | U.S. Government agencies | | | 1,270 | | | — | | | 1,270 | | | — | U.S. Government treasuries | | | 1,750 | | | — | | | 1,750 | | | — | Corporate notes and bonds | | | 77,522 | | | — | | | 77,522 | | | — | Total | | $ | 129,120 | | $ | 8,126 | | $ | 120,994 | | $ | — |
| | | | | | | | | | | | | | | Fair Value Measurement of Assets as of June 30, 2025 | | | Total | | Level 1 | | Level 2 | | Level 3 | Cash and cash equivalents: | | | | | | | | | | | | | Money market funds | | $ | 86,059 | | $ | 86,059 | | $ | — | | $ | — | Corporate commercial paper | | | 1,000 | | | — | | | 1,000 | | | — | U.S. Government treasuries | | | 1,996 | | | — | | | 1,996 | | | — | Marketable debt securities: | | | | | | | | | | | | | Corporate commercial paper | | | 16,588 | | | — | | | 16,588 | | | — | U.S. Government agencies | | | 5,445 | | | — | | | 5,445 | | | — | U.S. Government treasuries | | | 1,484 | | | — | | | 1,484 | | | — | Corporate notes and bonds | | | 50,234 | | | — | | | 50,234 | | | — | Total | | $ | 162,806 | | $ | 86,059 | | $ | 76,747 | | $ | — |
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| Schedule of changes in the fair value of the company's embedded derivative liability, fair value, level 3 inputs |
The following table sets forth changes in the fair value of the Company’s embedded derivative liability for which fair value was determined on a recurring basis for the six months ended December 31, 2025 and 2024 (in thousands): | | | | | | | 2025 | | 2024 | Fair value, beginning of period | $ | 468 | | $ | 468 | Changes in fair value | | 15 | | | 9 | Fair value, end of period | $ | 483 | | $ | 477 |
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