v3.22.2.2

Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2022
Income Taxes [Abstract] |
Schedule of Comprehensive Income (Loss) | The components of net loss consist of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the Years Ended
​ | ​ | June 30,
​ |  | 2022 |  | 2021
United States | ​ | $ | (50,304) | ​ | $ | (23,200)
Brazil | ​ |  | — | ​ |  | (13)
Total | ​ | $ | (50,304) | ​ | $ | (23,213)
Schedule of Components of Income Tax Expense (Benefit) | The components of the provision (benefit) for income taxes consist of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Years Ended
​ | ​ | June 30,
​ |  | 2022 |  | 2021
Current – Federal and state | ​ | $ | — | ​ | $ | —
Deferred – Federal |  | ​ | (9,051) |  | ​ | (55)
Deferred – State | ​ |  | — | ​ |  | —
Total | ​ |  | (9,051) | ​ |  | (55)
Change in valuation allowance | ​ |  | 9,051 | ​ |  | 55
Income tax expense | ​ | $ | — | ​ | $ | —
Schedule of Deferred Tax Assets and Liabilities | The components of the Company’s deferred tax assets and liabilities are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of June 30,
​ |  | 2022 | ​ | 2021
Deferred tax assets (liabilities): | ​ | ​ | ​ | ​ | ​ | ​
Net operating loss | ​ | $ | 35,829 | ​ | $ | 24,693
Share-based compensation | ​ |  | 1,248 | ​ |  | 353
Research and development tax credits | ​ |  | 1,764 | ​ |  | 1,737
Investment in equity security | ​ | ​ | 370 | ​ | ​ | —
Basis in iBio CDMO | ​ |  | — | ​ |  | 984
Property, plant and equipment | ​ | ​ | (2,520) | ​ | ​ | —
Intangible assets | ​ |  | (71) | ​ |  | (91)
Vacation accrual and other | ​ |  | 145 | ​ |  | 38
Valuation allowance | ​ |  | (36,765) | ​ |  | (27,714)
Total | ​ | $ | — | ​ | $ | —
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the statutory tax rate to the effective tax rate is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Years Ended
​ | ​ | June 30,
​ |  | 2022 | ​ | 2021
Statutory federal income tax rate |  | 21 | % | ​ | 21 | %
Change related to iBio CDMO |  | (3) | % | ​ | — | %
Change in valuation allowance |  | (18) | % | ​ | (21) | %
Effective income tax rate |  | — | % | ​ | — | %

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=126968391&loc=d3e526-108580 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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