v3.22.2.2

Share-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2022

Share-Based Compensation [Member]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes the components of share-based compensation expense in the Consolidated Statements of Operations (in thousands):

​

​	​	​	​	​	​	​
​		Year Ended
​	​	June 30,
​		2022			2021
Research and development	​	$	573	​	$	185
General and administrative	​		3,804	​		1,401
Total	​	$	4,377	​	$	1,586

​

​

​

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table summarizes all stock option activity during the years ended June 30, 2022 and 2021:

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​			Weighted-		​	​
​	​	​	​	Weighted-		​	average	​	​	​
​	​	​	​	average		​	Remaining	​	Aggregate
​	​	Stock	​	Exercise		​	Contractual	​	Intrinsic Value
​		Options		Price			Term (in years)		(in thousands)
Outstanding as of July 1, 2020		139,031	​	$	29.50		8.2	​	$	4,042
Granted		209,600	​	​	36.00		—	​		—
Exercised	​	(2,147)	​	​	25.50	​	—	​	​	—
Forfeited/expired		(4,798)	​	​	61.25		—	​		—
Outstanding as of June 30, 2021		341,686	​	$	32.75		8.8	​	$	1,995
As of June 30, 2020, vested and expected to vest		340,814	​	$	32.75		8.3	​	$	1,988
​	​	​	​	​	​	​	​	​	​	​
Exercisable as of June 30, 2021		77,338	​	$	27.75		6.4	​	$	890
​	​	​	​	​	​	​	​	​	​	​
Outstanding as of June 30, 2021		341,686	​	$	32.75		8.8	​	$	1,995
Granted		313,568	​	​	27.50		—	​		—
Exercised	​	(3,380)	​	​	22.75	​	—	​	​	—
Forfeited/expired		(30,068)	​	​	35.00		—	​		—
Outstanding as of June 30, 2022		621,806	​	$	30.00		8.3	​	$	—
As of June 30, 2021, vested and expected to vest		197,404	​	$	30.00		8.3	​	$	—
​	​	​	​	​	​	​	​	​	​	​
Exercisable as of June 30, 2022		620,810	​	$	29.25		6.7	​	$	—

​

Schedule of Stock options outstanding and exercisable

The following table summarizes information about options outstanding and exercisable at June 30, 2022:

​

​	​	​	​	​	​	​	​	​	​
​		Options Outstanding and Exercisable
​	​	​	​	Weighted-	​	Weighted-		​	​
​	​	​	​	Average	​	Average		​	​
​	​	Number	​	Remaining Life	​	Exercise		​	Number
​	​	Outstanding		In Years		Price			Exercisable
Exercise prices:						​
$8.50 - $13.00		25,200		9.7	​	$	9.75		500
$17.25 - $26.00		112,662		6.4	​		21.00		85,152
$26.50 - $39.75	​	463,791	​	8.6	​	​	32.50	​	101,932
$41.25 - $62.00	​	20,000	​	8.3	​	​	47.25	​	9,667
$63.25 - $95.00		20		5.9	​		63.25		20
$182.50 - $273.75		133		0.4	​		182.50		133
​	​	​	​	​	​	​	​	​	​
​		621,806		8.3	​	$	28.31		197,404

Schedule of Fair value of options granted using the Black-Scholes option pricing model

The weighted-average grant date fair value of stock options granted during 2022 and 2021 was $23.25 and $31.25 per share, respectively. The Company estimated the fair value of options granted using the Black-Scholes option pricing model with the following assumptions:

​

​	​	​	​	​	​	​	​
​		​	2022		​	2021
Weighted average risk-free interest rate	​	​	0.80% - 2.52	%	​	0.39 - 1.02	%
Dividend yield		​	0	%	​	0	%
Volatility		​	119.16 - 120.34	%	​	119.46 - 126.55	%
Expected term (in years)		​	6		​	6	​

​

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