Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.7.0.1
Share-Based Compensation (Tables)
 9 Months Ended
Mar. 31, 2017
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
 
 
 
March 31,
 
 
 
2017
 
2016
 
Research and development
 
$
5
 
$
6
 
General and administrative
 
 
202
 
 
291
 
Totals
 
$
207
 
$
297
 
 
 
 
Nine Months Ended
 
 
 
March 31,
 
 
 
2017
 
2016
 
Research and development
 
$
16
 
$
15
 
General and administrative
 
 
697
 
 
925
 
Totals
 
$
713
 
$
940
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
The following table summarizes all stock option activity during the nine months ended March 31, 2017:
 
 
 
 
 
 
 
Weighted-
 
 
 
 
 
 
 
Weighted-
 
average
 
 
 
 
 
 
 
average
 
Remaining
 
Aggregate
 
 
 
Stock
 
Exercise
 
Contractual
 
Intrinsic Value
 
 
 
Options
 
Price
 
Term (in years)
 
(in thousands)
 
Outstanding as of July 1, 2016
 
 
12,273,334
 
$
1.31
 
 
6.4
 
$
993
 
Granted
 
 
150,000
 
 
0.40
 
 
 
 
 
 
 
Forfeited
 
 
(116,665)
 
 
1.54
 
 
 
 
 
 
 
Outstanding as of March 31, 2017
 
 
12,306,669
 
$
1.30
 
 
5.6
 
$
196
 
Vested and, as of March 31, 2017, expected to vest
 
 
12,276,498
 
$
1.30
 
 
5.6
 
$
196
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable as of March 31, 2017
 
 
9,478,362
 
$
1.30
 
 
4.8
 
$
191
 
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
 
2.37
%
Dividend yield
 
0
%
Volatility
 
104.38
%
Expected term (in years)
 
9