Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.3.1.900
Share-Based Compensation (Tables)
 6 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
The following table summarizes the components of share-based compensation expense in the condensed consolidated statements of operations (in thousands):
 
 
 
Three Months Ended
December 31,
 
 
 
2015
 
2014
 
Research and development
 
$
4
 
$
(20)
 
General and administrative
 
 
310
 
 
233
 
Totals
 
$
314
 
$
213
 
 
 
 
Six Months Ended
December 31,
 
 
 
2015
 
2014
 
Research and development
 
$
9
 
$
-
 
General and administrative
 
 
634
 
 
466
 
Totals
 
$
643
 
$
466
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
The following table summarizes all stock option activity during the six months ended December 31, 2015:
 
 
 
Stock
Options
 
Weighted-
average
Exercise
Price
 
Weighted-
average
Remaining
Contractual
Term (in years)
 
Aggregate
Intrinsic Value
(in thousands)
 
Outstanding as of July 1, 2015
 
 
9,523,334
 
$
1.22
 
 
6.6
 
$
1,848
 
Granted
 
 
2,550,000
 
 
1.72
 
 
 
 
 
 
 
Outstanding as of December 31, 2015
 
 
12,073,334
 
$
1.32
 
 
6.8
 
$
461
 
Vested and, as of December 31, 2015, expected to vest
 
 
12,010,937
 
$
1.32
 
 
6.8
 
$
460
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable as of December 31, 2015
 
 
7,413,357
 
$
1.32
 
 
5.6
 
$
404
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The Company estimated the fair value of options granted using the Black-Scholes option pricing model with the following assumptions:
 
Risk-free interest rate
 
2.13
%
Dividend yield
 
0
%
Volatility
 
112.17
%
Expected term (in years)
 
9