The Company and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2021

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis

We measure the following financial instruments at fair value on a recurring basis. The fair values of these financial instruments were as follows (in thousands):

	June 30, 2021							June 30, 2020
	Level 1		Level 2		Level 3			Level 1		Level 2		Level 3
Warrant liability	$	—	$	—	$	(22,355	)	$	—	$	—	$	(40,483	)
Total	$	—	$	—	$	(22,355	)	$	—	$	—	$	(40,483	)

Schedule of Assumptions Used to Calculate Fair Value of Warrant Liability

To calculate the fair value of the warrant liability, the following assumptions were used:

	June 30, 2021			June 30, 2020
Risk-free interest rate		0.2	%		0.2	%
Expected life (years)		1.9			2.9
Expected volatility		88.5	%		77.4	%
Dividend yield		0.0	%		0.0	%
Black-Scholes Fair Value	$	1.39		$	2.52

Schedule of Changes in Estimated Fair Value of Warrant Liability

The following table sets forth a summary of changes in the estimated fair value of our Level 3 warrant liability for the years ended June 30, 2021 and 2020 (in thousands):

	Fair Value of Warrants Using Significant Unobservable Inputs (Level 3)
	2021			2020
Balance at July 1,	$	40,483		$	17,613
Reclassification of warrant liability to equity upon exercise of warrants		(6	)		—
Change in estimated fair value of liability classified warrants		(18,122	)		22,870
Balance at June 30,	$	22,355		$	40,483

Schedule Of Revenue Associated With License Agreement

We recognized revenue associated with the following license agreements (in thousands):

	Years Ended June 30,
	2021		2020
	(As Restated)				2019
License agreement:
KKC Agreements	$	34,356	$	26,386	$	2,557
Helsinn License Agreement		440		1,370		2,358
	$	34,796	$	27,756	$	4,915
Timing of Revenue Recognition:
Services performed over time	$	31,302	$	6,768	$	4,036
Pass through services at a point in time		3,494		—		—
License transferred at a point in time		—		20,988		879
	$	34,796	$	27,756	$	4,915

Schedule of Changes in Accounts Receivable, Unbilled Receivables and Contract Liabilities

The following table presents changes in accounts receivable, unbilled receivables and contract liabilities accounted for under Topic 606 during the years ended June 30, 2021 and 2020 (in thousands):

	Years Ended June 30,
	2021			2020
	(As Restated)
Accounts receivable
Accounts receivable, beginning of year	$	83		$	—
Amounts billed		25,682			1,292
Payments received		(25,765	)		(1,209	)
Accounts receivable, end of year	$	—		$	83
Unbilled receivables
Unbilled receivables, beginning of year	$	2,858		$	511
Billable amounts		30,406			3,639
Amounts billed		(25,682	)		(1,292	)
Unbilled receivables, end of year	$	7,582		$	2,858
Contract liabilities
Contract liabilities, beginning of year	$	19,108		$	7,774
Revenue recognized		(4,798	)		(25,234	)
Payments received		367			36,568
Contract liabilities, end of year	$	14,677		$	19,108

Schedule of Income (Loss) Per Share, Basic and Diluted

The following table presents the calculation of net loss used to calculate basic and diluted loss per share (in thousands):

	Years Ended June 30,
	2021			2020
	(As Restated)			(As Restated)			2019
Net loss—basic	$	(41,314	)	$	(47,173	)	$	(16,819	)
Change in fair value of warrant liability		(27,394	)		—			(37,794	)
Net loss—diluted	$	(68,708	)	$	(47,173	)	$	(54,613	)

Calculation of Weighted Average Shares Used to Calculate Basic and Diluted (Loss) Earnings Per Share

Shares used in calculating net loss per share was determined as follows (in thousands):

	Years Ended June 30,
	2021		2020		2019
Weighted average shares used in calculating net loss per share		112,527		91,080		71,139
Effect of potentially dilutive common shares from equity awards and liability-classified warrants		1,954		—		1,246
Weighted average shares used in calculating diluted loss per share		114,481		91,080		72,385

Antidilutive Securities

The following potentially dilutive shares (in thousands) have been excluded from the calculation of net loss per share because of their anti-dilutive effect:

	Years Ended June 30,
	2021		2020		2019
Stock options		15,887		11,030		8,057
Restricted stock units		427		—		32
Warrants		4,015		16,062		8,062
Total anti-dilutive shares		20,329		27,092		16,151