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Share-based Compensation (Tables) | 12 Months Ended
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Jun. 30, 2025
Share-Based Compensation Expense for Stock Awards | Total share-based compensation expense for all stock awards consists of the following, in thousands:
|  | For the Fiscal Year Ended June 30, |
|  | 2025 |  |  | 2024 |
Research and development |  | $ | (128 | ) |  | $ | 349 |
General and administrative |  |  | (16 | ) |  |  | 1,929 |
Total share-based compensation |  | $ | (144 | ) |  | $ | 2,278 |
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, 2024 |  |  | 1,357,213 |  |  | $ | 31.60 |  |  |  |  |  |  |
Forfeited |  |  | (488,065 | ) |  | $ | 25.64 |  |  |  |  |  |  |
Outstanding at June 30, 2025 |  |  | 869,148 |  |  | $ | 32.90 |  |  |  | 5.8 |  |  | $ | — |
Vested and expected to vest at June 30, 2025 |  |  | 869,148 |  |  |  |  |  |  | 5.8 |  |  | $ | — |
Fair Value of Stock Options Weighted-Average Assumptions Used | following weighted-average assumptions were used to calculate these fair values:
Risk-free interest rate |  |  | 4.5 | %
Expected life (years) |  |  | 5.7 |
Volatility |  |  | 89.8 | %
Dividend yield |  |  | — | %
Weighted-average grant date fair value |  | $ | 5.20 |

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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