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 |
|
|