v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (46,885) $ (18,459)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 246 103
Stock-based compensation expense 2,609 8,928
Unrealized losses/(gains) on foreign currency remeasurement 294 28
Non-cash expense of ELOC commitment 1,048
Change in fair value of warrant liabilities 21,925
Change in fair value of convertible rights (299)
Non-cash interest expense 302
Loss on extinguishment 1,472
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (189) 369
R&D tax incentive receivable 5,579 (9,837)
Trade and other payables 1,385 3,023
Net cash used in operating activities (12,513) (15,845)
Cash flows from investing activities:    
Purchase of property, plant and equipment (8) (277)
Net cash used in investing activities (8) (277)
Cash flows from financing activities:    
Proceeds received from facility agreement 4,282
Repayment of facility agreement (4,459)
Proceeds share issuance 48,343
Share issuance costs (747)
Warrant issuance costs (125)
Proceeds from issuance of convertible debt 2,779
Cancellation of warrants (24,769)
Repayment of convertible debt (3,795)
Debt issuance costs (113)
Net cash provided by financing activities 21,396
Effect of exchange rate changes on cash and cash equivalents 306 (140)
Net (decrease)/increase in cash and cash equivalents 8,875 (16,122)
Cash and cash equivalents at beginning of period 5,858 22,120
Cash and cash equivalents at end of period 15,039 5,858
Non-cash investing and financing activities    
Issuance of ELOC warrants at initial fair value 806
Issuance of convertible note warrants at initial fair value 341
Issuance of convertible rights at initial fair value 282
Issuance of Series A warrants at initial fair value 2,843
Partial conversion of convertible note 100
Total $ 4,372