Stockholders’ Equity (Tables)
|
12 Months Ended |
Jun. 30, 2022 |
|---|
| Equity [Abstract] |
|
| Schedule of sales through equity offering program |
| Three months ended |
|
Avg price
per share |
|
|
Number of
Shares |
|
|
Gross
Proceeds
(in millions) |
|
|
Offering
Expenses
(in millions) |
|
|
Net
Proceeds
(in millions) |
|
| September 30, 2021 |
|
$ |
9.99 |
|
|
|
555,455 |
|
|
$ |
5.5 |
|
|
$ |
0.1 |
|
|
$ |
5.4 |
|
| December 31, 2021 |
|
$ |
7.04 |
|
|
|
1,931,022 |
|
|
$ |
13.6 |
|
|
$ |
0.2 |
|
|
$ |
13.4 |
|
| March 31, 2022 |
|
$ |
6.03 |
|
|
|
1,157,919 |
|
|
$ |
7.0 |
|
|
$ |
0.2 |
|
|
$ |
6.8 |
|
| June 30, 2022 |
|
$ |
3.88 |
|
|
|
533,922 |
|
|
$ |
2.1 |
|
|
$ |
0.1 |
|
|
$ |
2.0 |
|
| Total fiscal year ended June 30, 2022 |
|
$ |
6.75 |
|
|
|
4,178,318 |
|
|
$ |
28.2 |
|
|
$ |
0.6 |
|
|
$ |
27.6 |
|
| Three months ended |
|
Avg price
per share |
|
|
Number of
Shares |
|
|
Gross
Proceeds
(in millions) |
|
|
Offering
Expenses
(in millions) |
|
|
Net
Proceeds
(in millions) |
|
| September 30, 2020 |
|
$ |
8.09 |
|
|
|
416,221 |
|
|
$ |
3.4 |
|
|
$ |
0.1 |
|
|
$ |
3.3 |
|
| December 31, 2020 |
|
$ |
8.93 |
|
|
|
2,296,023 |
|
|
$ |
20.5 |
|
|
$ |
0.4 |
|
|
$ |
20.1 |
|
| March 31, 2021 |
|
$ |
14.99 |
|
|
|
2,082,148 |
|
|
$ |
31.2 |
|
|
$ |
0.5 |
|
|
$ |
30.7 |
|
| June 30, 2021 |
|
$ |
10.01 |
|
|
|
762,197 |
|
|
$ |
7.6 |
|
|
$ |
0.1 |
|
|
$ |
7.5 |
|
| Total fiscal year ended June 30, 2021 |
|
$ |
11.28 |
|
|
|
5,556,589 |
|
|
$ |
62.7 |
|
|
$ |
1.1 |
|
|
$ |
61.6 |
|
|
| Schedule of black-scholes option pricing model with weighted average assumptions |
| | |
June 30,
2022 | | |
June 30,
2021 | |
| Exercise price | |
$ | 3.79 - $10.15 | | |
$ | 7.72- $17.61 | |
| Expected term (years) | |
| 4.75
– 5.00 | | |
| 4.00
– 5.00 | |
| Risk-free interest rate | |
| 0.76
– 3.38 | % | |
| 0.25
– 0.78 | % |
| Volatility | |
| 66
– 67 | % | |
| 67
– 68 | % |
| Dividend yield | |
| 0 | % | |
| 0 | % |
| Weighted Average Grant Date Fair Value of Options granted during the period | |
| | | |
$ | 8.49 | |
|
| Schedule of stock option activity |
| | |
Options | | |
Weighted-
Average
Exercise
Price | | |
Weighted-
Average
Remaining
Contractual
Term (in years) | | |
Aggregate
Intrinsic
Value
(in thousands) | |
| Outstanding – June 30, 2021 | |
| 2,497,577 | | |
| 6.49 | | |
| | | |
| | |
| Granted | |
| 712,300 | | |
| 8.49 | | |
| | | |
| | |
| Exercised | |
| (87,263 | ) | |
| 4.69 | | |
| | | |
| | |
| Forfeited/Cancelled | |
| (102,612 | ) | |
| 8.55 | | |
| | | |
| | |
| Outstanding – June 30, 2022 | |
| 3,020,002 | | |
| 6.95 | | |
| 4.20 | | |
| 286 | |
| Exercisable – June 30, 2022 | |
| 1,707,578 | | |
| 5.94 | | |
| 3.11 | | |
| 286 | |
|
| Schedule of unrecognized stock-based compensation expense and weighted-average years |
| | |
As of June 30, 2022 | |
| | |
Unrecognized
stock-based
compensation | | |
Weighted-
average
years
to be recognized | |
| Options | |
$ | 3,224 | | |
| 2.41 | |
| Restricted stock awards/units | |
$ | 9,286 | | |
| 2.23 | |
|
| Schedule of stock-based compensation expense |
| | |
2022 | | |
2021 | |
| Research and Development | |
$ | 5,586 | | |
$ | 4,037 | |
| General and Administrative | |
| 4,661 | | |
| 4,155 | |
| Total | |
$ | 10,247 | | |
$ | 8,192 | |
|
| Schedule of unvested restricted stock awards (“RSAs”) and restricted stock unit awards (“RSUs”) |
| | |
Number of
RSAs/RSUs | | |
Weighted
Average
Fair Value
per
Share/Unit | |
| Outstanding - June 30, 2021 | |
| 1,707,608 | | |
$ | 8.45 | |
| Granted | |
| 1,240,510 | | |
| 8.16 | |
| Vested | |
| (686,233 | ) | |
| 8.23 | |
| Forfeited/Cancelled/Repurchased | |
| (124,300 | ) | |
| 9.42 | |
| Outstanding – June 30, 2022 | |
| 2,177,585 | | |
| 8.30 | |
|