v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows From Operating Activities:    
Net loss $ (77,586) $ (74,412)
Share-based compensation expense 14,460 7,121
Non-cash lease expense 579 532
Depreciation expense 31 31
Accretion of discounts and amortization of premiums on marketable debt securities, net (2,449) (2,394)
Changes in operating assets and liabilities:    
Prepaid expenses, deposits, and other assets 1,496 (2,095)
Accounts payable (748) 1,421
Accrued liabilities (418) 721
Net cash used in operating activities (64,635) (69,075)
Cash Flows From Investing Activities:    
Purchase of marketable debt securities (178,181) (128,140)
Proceeds from maturities of marketable debt securities 157,083 113,599
Net cash used in investing activities (21,098) (14,541)
Cash Flows From Financing Activities:    
Proceeds from exercise of stock options 2,276 893
Payment of offering costs (35) (1,059)
Net cash provided by financing activities 2,241 107,327
Net change in cash and cash equivalents (83,492) 23,711
Cash and cash equivalents at beginning of fiscal year 94,107 70,396
Cash and cash equivalents at end of fiscal year 10,615 94,107
Supplementary Cash Flow Information:    
Cash paid for amounts included in the measurement of operating lease liabilities 770 748
Non-Cash Investing & Financing Activities:    
Receivable from exercise of stock options $ 25 503
Payables for offering costs charged to additional paid-in capital   35
Underwritten Public Offering    
Cash Flows From Financing Activities:    
Proceeds from issuance of equity securities in underwritten offering, net of underwriting discounts, Issuance of common stock   76,194
Underwritten Public Offering | Pre-funded warrants    
Cash Flows From Financing Activities:    
Proceeds from issuance of equity securities in underwritten offering, net of underwriting discounts, Issuance of pre-funded warrants   21,089
Private Placement 2024    
Cash Flows From Financing Activities:    
Gross proceeds from issuance of common stock in Private Placement   6,000
Private Placement 2025    
Cash Flows From Financing Activities:    
Gross proceeds from issuance of common stock in Private Placement   $ 4,210