Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

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