v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (20,802) $ (14,611)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 27 39
Amortization of right-of-use assets 211 133
Gain on extinguishment of liabilities 0 (764)
Share-based compensation expense 12,559 3,573
Changes in operating assets and liabilities:    
Trade and other receivables 153 226
Prepaid and other assets (39) 165
Trade and other payables 826 (980)
Accrued employee benefits 56 77
Lease liabilities (118) (147)
Net cash used in operating activities (7,127) (12,289)
Cash flows from investing activities:    
Purchase of property and equipment (11) (12)
Net cash used in investing activities (11) (12)
Cash flows from financing activities:    
Proceeds from the issuance of common stock 104,495 0
Proceeds from exercise of pre-funded warrants, Series 2 warrants and common warrants 0 39,529
Share issuance transaction costs (6,265) (2)
Net cash provided by financing activities 98,230 39,527
Effects of exchange rate changes on cash, cash equivalents, and restricted cash (46) 190
Net increase in cash, cash equivalents, and restricted cash 91,046 27,416
Cash, cash equivalents, and restricted cash, beginning of period 97,857 50,929
Cash, cash equivalents, and restricted cash, end of period 188,903 78,345
Non-cash investing and financing activities:    
Re-measurement of operating lease right-of-use assets and liabilities 256 0
Exercise of warrants to shares of common stock $ 123 $ 0