v3.26.1
Reverse Recapitalizatoin and Sonnet Acquisition (Tables)
 9 Months Ended
Mar. 31, 2026
Business Combination [Abstract]  
Summary of Cost of Acquisition and Allocation to Assets Acquired and Liabilities Assumed
The total cost of the acquisition of Sonnet and the allocation to the assets acquired and liabilities assumed are summarized in the following table (in thousands):
 
Assets Acquired and Liabilities Assumed
   
Cash
    $ 10,347  
Assembled workforce
      800  
In-process
research and development
      35,605  
Other assets
      1,788  
Accounts payable
      (2,707 ) 
Accrued expenses and other current liabilities
      (999 ) 
  
 
 
  
Total net assets acquired
    $ 44,834  
  
 
 
  
Cost of the Acquisition
   
Fair value of HSI Common stock issued
      17,771  
Fair value of HSI Warrants issued
      12,478  
Cash to settle outstanding Sonnet warrants
      5,261  
  
 
 
  
Total consideration paid to Sonnet
      35,510  
Transaction costs
      9,324  
  
 
 
  
Total cost of the acquisition
    $ 44,834