v3.22.4
Share-based Compensation (Tables)
 6 Months Ended
Dec. 31, 2022
Share-Based Compensation Expense for Stock Awards

Total share-based compensation expense for all stock awards consisted of the following for the periods presented (in thousands):

 

 

 

Three Months Ended
December 31,

 

 

Six Months Ended
December 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Research and development

 

$

201

 

 

$

658

 

 

$

850

 

 

$

1,280

 

General and administrative

 

 

612

 

 

 

1,666

 

 

 

1,522

 

 

 

3,583

 

Total share-based compensation expense

 

$

813

 

 

$

2,324

 

 

$

2,372

 

 

$

4,863

 
Summary of Stock Option Activity and Related Data Stock options granted to directors vest ratably each month for a period of 12 months from the date of grant and expire ten years from the date of grant. Of the total options outstanding of 25,404,860 as of December 31, 2022, 23,396,257 were granted under the Omnibus Plan and 2,008,603 were granted under the Inducement Plan.

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, 2022

 

 

19,934,007

 

 

$

2.85

 

 

 

 

 

 

 

Granted

 

 

9,220,410

 

 

 

0.53

 

 

 

 

 

 

 

Expired

 

 

(156,667

)

 

 

2.63

 

 

 

 

 

 

 

Forfeited/Cancelled

 

 

(3,592,890

)

 

 

2.05

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

25,404,860

 

 

 

2.12

 

 

 

7.7

 

 

$

—

 

Vested and exercisable at December 31, 2022

 

 

12,242,063

 

 

 

2.89

 

 

 

6.3

 

 

$

—

 

 
Fair Value of Stock Options Weighted-Average Assumptions Used following weighted average assumptions were used for the periods presented:

 

 

 

Six Months Ended
December 31,

 

 

 

2022

 

 

2021

 

Risk-free interest rate

 

 

2.9

%

 

 

1.1

%

Expected life (years)

 

 

6.0

 

 

 

6.0

 

Expected volatility

 

 

84.1

%

 

 

68.0

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

Weighted average grant date fair value

 

$

0.39

 

 

$

1.78

 
Summary of RSU activity RSU activity and related data for the six months ended December 31, 2022 was as follows:

 

 

 

Number of
RSUs

 

 

Weighted Average
Grant Date
Fair Value

 

Non-vested at June 30, 2022

 

 

184,400

 

 

$

3.49

 

Vested

 

 

(184,400

)

 

$

3.49

 

Non-vested at December 31, 2022

 

 

—

 

 

$

—