v3.22.2.2
Share-Based Compensation (Tables)
12 Months Ended
Jun. 30, 2022
Share-Based Compensation Expense for Stock Awards

Total share-based compensation expense for all stock awards consists of the following, in thousands:

 

 

 

Years Ended June 30,

 

 

 

2022

 

 

2021

 

 

2020

 

Research and development

 

$

2,610

 

 

$

4,144

 

 

$

2,777

 

General and administrative

 

 

5,740

 

 

 

6,101

 

 

 

4,024

 

Total share-based compensation

 

$

8,350

 

 

$

10,245

 

 

$

6,801

 

Summary of Stock Option Activity and Related Data

A summary of our stock option activity and related data follows:

 

 

 

Number of
Options

 

Weighted-Average
Exercise Price

 

Weighted-Average
Remaining Contractual
Term (in years)

 

Aggregate
Intrinsic Value

Outstanding at June 30, 2021

 

16,668,542

 

$3.01

 

 

 

 

Granted

 

7,124,734

 

$2.57

 

 

 

 

Exercised

 

  (348,547)

 

$1.64

 

 

 

 

Forfeited

 

  (3,510,722)

 

$3.15

 

 

 

 

Outstanding at June 30, 2022

 

19,934,007

 

$2.85

 

7.4

 

$50,600

Vested and exercisable at June 30, 2022

 

10,844,635

 

$2.95

 

6.2

 

$

 

Fair Value of Stock Options Weighted-Average Assumptions Used

We use a Black-Scholes valuation model to estimate the grant date fair value of stock options. To calculate these fair values, the following weighted-average assumptions were used:

 

 

 

Years Ended June 30,

 

 

 

2022

 

 

2021

 

 

2020

 

Risk-free interest rate

 

 

1.3

%

 

 

0.5

%

 

 

1.7

%

Expected life (years)

 

 

6.0

 

 

 

6.0

 

 

 

6.0

 

Expected volatility

 

 

69.6

%

 

 

80.1

%

 

 

74.1

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

 

 

0.0

%

Weighted-average grant date fair value

 

$

1.57

 

 

$

2.30

 

 

$

1.64

 

Summary of RSU activity and related data

A summary of our RSU activity and related data follows:

 

 

Number of
RSUs

 

Weighted-Average
Grant Date
Fair Value

Non-vested at June 30, 2021

 

400,650

 

$3.49

Vested

 

  (130,000)

 

$3.49

Forfeited

 

  (86,250)

 

$3.49

Non-vested at June 30, 2022

 

184,400

 

$3.49