Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.21.2
Share-Based Compensation (Tables)
12 Months Ended
Jun. 30, 2021
Share-Based Compensation [Member]  
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 Consolidated Statements of Operations (in thousands):

 

 

 

 

 

 

 

 

 

    

Years Ended

 

 

June 30, 

 

    

2021

    

2020

Research and development

 

$

185

 

$

55

General and administrative

 

 

1,401

 

 

333

Total

 

$

1,586

 

$

388

 

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, 2021 and 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

    

Weighted-

    

 

 

 

 

 

 

Weighted-

 

average

 

 

 

 

 

 

 

average

 

Remaining

 

Aggregate

 

 

Stock

 

Exercise

 

Contractual

 

Intrinsic Value

 

    

Options

    

Price

    

Term (in years)

    

(in thousands)

Outstanding as of July 1, 2019

 

1,346,519

 

$

1.45

 

6.1

 

$

 —

Granted

 

2,383,300

 

 

1.11

 

 —

 

 

 —

Exercised

 

(139,392)

 

 

0.93

 

 —

 

 

 —

Forfeited/expired

 

(114,654)

 

 

3.32

 

 —

 

 

 —

Outstanding as of June 30, 2020

 

3,475,773

 

$

1.18

 

8.2

 

$

4,042

As of June 30, 2020, vested and expected to vest

 

3,424,064

 

$

1.18

 

8.3

 

$

3,987

 

 

 

 

 

 

 

 

 

 

 

Exercisable as of June 30, 2020

 

983,442

 

$

1.40

 

4.6

 

$

1,221

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of June 30, 2020

 

3,475,773

 

$

1.18

 

8.2

 

$

4,042

Granted

 

5,240,000

 

 

1.44

 

 —

 

 

 —

Exercised

 

(53,687)

 

 

1.02

 

 —

 

 

 —

Forfeited/expired

 

(119,933)

 

 

2.45

 

 —

 

 

 —

Outstanding as of June 30, 2021

 

8,542,153

 

$

1.31

 

8.8

 

$

1,995

As of June 30, 2021, vested and expected to vest

 

8,520,349

 

$

1.31

 

8.8

 

$

1,988

 

 

 

 

 

 

 

 

 

 

 

Exercisable as of June 30, 2021

 

1,933,460

 

$

1.11

 

6.4

 

$

890

 

Schedule of Stock options outstanding and exercisable

The following table summarizes information about options outstanding and exercisable at June 30, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

    

Options Outstanding and Exercisable

 

 

 

 

Weighted-

 

Weighted-

 

 

 

 

 

 

Average

 

Average

 

 

 

 

Number

 

Remaining Life

 

Exercise

 

Number

 

 

Outstanding

    

In Years

    

Price

    

Exercisable

Exercise prices:

 

  

 

  

 

 

  

 

  

$0.90 - $1.37

 

5,832,319

 

8.5

 

$

1.18

 

1,561,957

$1.41 - $2.12

 

2,700,000

 

9.5

 

 

1.56

 

361,669

$2.53 - $3.80

 

500

 

6.7

 

 

2.53

 

500

$7.30 - $10.95

 

9,334

 

0.9

 

 

8.59

 

9,334

 

 

 

 

 

 

 

 

 

 

 

 

8,542,153

 

8.8

 

$

1.31

 

1,933,460

 

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

The Company estimated the fair value of options granted using the Black-Scholes option pricing model with the following assumptions:

 

 

 

 

 

 

 

 

 

 

2021

 

2020

Weighted average risk-free interest rate

 

0.39 - 1.02

%  

 

 0.60

%

Dividend yield

 

 0

%  

 

 0

%

Volatility

 

119.46 - 126.55

%  

 

 97.5

%

Expected term (in years)

 

6

 

 

9