Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
Current assets:
Cash and cash equivalents	$ 15,050	$ 10,837
Short term investments	40,104	35,081
Total cash, cash equivalents and short-term investments	55,154	45,918
Prepaid expenses and other current assets	2,668	831
Total current assets	57,822	46,749
Intangible assets, net	348	366
Property and equipment, net	40	49
Total assets	58,210	47,164
Current liabilities:
Accounts payable	382	1,079
Accrued liabilities	2,938	4,433
Total current liabilities	3,320	5,512
Commitments and contingencies (Note 4)
Stockholders' equity:
Preferred stock, $0.01 par value; 100,000 shares authorized; none outstanding
Common stock, $0.00000002 par value; 113,000,000 shares authorized; 36,772,428 and 34,155,997 shares issued and outstanding at December 31, 2016 and June 30, 2016, respectively	0	0
Additional paid-in-capital	224,276	218,653
Accumulated deficit	(169,386)	(177,001)
Total stockholders' equity	54,890	41,652
Total liabilities and stockholders' equity	$ 58,210	$ 47,164

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).