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Share-based Compensation (Tables)

12 Months Ended

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

X

- Definition

Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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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
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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

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