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Fair Value Considerations (Tables) | 3 Months Ended
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Sep. 30, 2021
Fair Value Considerations |
Schedule of fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at September 30, 2021
​ | ​ | ​ | ​ | ​ | Quoted | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Priced in | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Active | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Markets | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | for | ​ | Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | Identical | ​ | Observable | ​ | Unobservable
​ |  | Fair Value at September 30, |  | Assets |  | Inputs |  | Inputs
​ | ​ | 2021 |  | (Level 1) |  | (Level 2) |  | (Level 3)
​ | ​ | (In thousands)
Recurring: |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contingent consideration |  | $ | 12,307 |  | $ | — |  | $ | — |  | $ | 12,307
CVR liability |  | ​ | 1,348 |  | ​ | — |  | ​ | — |  | ​ | 1,348
Total | ​ | $ | 13,655 |  | $ | — |  | $ | — | ​ | $ | 13,655
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at June 30, 2021
​ | ​ | ​ | ​ | ​ | Quoted | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Priced in | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Active | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Markets | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | for | ​ | Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | Identical | ​ | Observable | ​ | Unobservable
​ |  | Fair Value at June 30, |  | Assets |  | Inputs |  | Inputs
​ | ​ | 2021 |  | (Level 1) |  | (Level 2) |  | (Level 3)
​ |  | (In thousands)
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contingent consideration | ​ | $ | 12,057 |  | $ | — |  | $ | — |  | $ | 12,057
CVR liability | ​ | ​ | 1,395 |  | ​ | — |  | ​ | — |  | ​ | 1,395
Total | ​ | $ | 13,452 |  | $ | — |  | $ | — | ​ | $ | 13,452
Schedule of changes in Level 3 inputs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | CVR |  | Contingent
​ | ​ | Liability | ​ | Consideration
​ | (In thousands)
Balance as of June 30, 2021 |  | $ | 1,395 | ​ | $ | 12,057
Included in earnings |  | ​ | (47) | ​ | ​ | 300
Purchases, issues, sales and settlements: |  |  | ​ | ​ | ​ | ​
Settlements |  |  | — | ​ |  | (50)
Balance as of September 30, 2021 |  | $ | 1,348 | ​ | $ | 12,307
Schedule of significant assumptions used in valuation | Significant assumptions used in valuing the contingent consideration were as follows: ​
​ | ​ | ​ | ​
​ |  | September 30,
​ | ​ | 2021
Tuzistra |  |  |
Valuation model | ​ | Scenario-Based | ​
Leveraged Beta |  | 0.68 |
Market risk premium |  | 6.00 | %
Risk-free interest rate |  | 1.90 | %
Discount |  | 15.00 | %
Company specific discount |  | 15.00 | %
​
​ | ​ | ​ | ​
​ |  | September 30,
​ | ​ | 2021
ZolpiMist |  |  |
Valuation method | ​ | Monte Carlo | ​
Leveraged Beta |  | 1.12 |
Market risk premium |  | 6.00 | %
Risk-free interest rate |  | 2.00 | %
Discount |  | 11.80 | %
Company specific discount |  | 15.00 | %
​ Significant assumptions used in valuing the CVRs were as follows:
​ | ​ | ​ | ​
​ | ​ | September 30,
​ |  | 2021
Contingent Value Rights |  |  | ​
Valuation method | ​ | Monte Carlo | ​
Leveraged Beta |  | 0.91 | ​
Market risk premium | ​ | 6.00 | %
Risk-free interest rate | ​ | 0.41 | %
Discount | ​ | 18.00 | %
Company specific discount |  | 10.00 | %
​

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 + Details
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