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Share-based Compensation (Tables) | 12 Months Ended
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Jun. 30, 2020
Share-Based Compensation Expense for Stock Awards | Total share-based compensation expense for all stock awards consists of the following, in thousands:
|  | Years Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Research and development |  | $ | 2,777 |  |  | $ | 2,239 |  |  | $ | 1,176 |
General and administrative |  |  | 4,024 |  |  |  | 4,323 |  |  |  | 2,041 |
Total share-based compensation |  | $ | 6,801 |  |  | $ | 6,562 |  |  | $ | 3,217 |
Summary of Stock Option Activity and Related Data | A summary of our stock option activity and related data follows:
|  | Number of Options |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value |
Outstanding at June 30, 2019 |  |  | 8,356,961 |  |  | $ | 3.20 |  |  |  |  |  |  |  |  |
Granted |  |  | 3,733,333 |  |  | $ | 2.50 |  |  |  |  |  |  |  |  |
Exercised |  |  | (153,679 | ) |  | $ | 1.77 |  |  |  |  |  |  |  |  |
Forfeited / Cancelled |  |  | (125,749 | ) |  | $ | 2.45 |  |  |  |  |  |  |  |  |
Expired |  |  | (557,890 | ) |  | $ | 6.89 |  |  |  |  |  |  |  |  |
Outstanding at June 30, 2020 |  |  | 11,252,976 |  |  | $ | 2.81 |  |  |  | 7.8 |  |  | $ | 15,290,655 |
Vested and exercisable at June 30, 2020 |  |  | 5,475,069 |  |  | $ | 2.66 |  |  |  | 7.0 |  |  | $ | 8,330,387 |
Non-vested Stock Option Activity | A summary of our non - vested stock option activity:
|  | Number of Options |  |  | Weighted-Average Grant Date Fair Value |
Nonvested at June 30, 2019 |  |  | 4,376,928 |  |  | $ | 3.51 |
Granted |  |  | 3,733,333 |  |  | $ | 2.50 |
Forfeited |  |  | (76,563 | ) |  | $ | 2.86 |
Vested |  |  | (2,255,791 | ) |  | $ | 3.26 |
Nonvested at June 30, 2020 |  |  | 5,777,907 |  |  | $ | 2.96 |
Fair Value of Stock Options Weighted-Average Assumptions Used | We use a Black-Scholes valuation model to estimate the grant date fair value of stock options. To calculate these fair values, the following weighted-average assumptions were used:
|  | Years Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Risk-free interest rate |  |  | 1.7 | % |  |  | 2.7 | % |  |  | 2.3 | %
Expected life (years) |  |  | 6.0 |  |  |  | 6.0 |  |  |  | 6.0 |
Expected volatility |  |  | 74.1 | % |  |  | 82.5 | % |  |  | 93.7 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Weighted-average grant date fair value |  | $ | 1.64 |  |  | $ | 2.78 |  |  | $ | 2.40 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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