Share-based Compensation (Tables)

6 Months Ended

Dec. 31, 2023

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):

	For the Three Months Ended December 31,				For the Six Months Ended December 31,
	2023		2022		2023		2022
Research and development	$	129	$	201	$	60	$	850
General and administrative		721		612		1,153		1,522
Total share-based compensation	$	850	$	813	$	1,213	$	2,372

Summary of Stock Option Activity and Related Data

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, 2023		1,284,907		$	38.32
Granted		260,437		$	6.90
Forfeited		(147,596	)	$	38.32
Outstanding at December 31, 2023		1,397,748		$	32.47		7.5	$	—
Vested and expected to vest at December 31, 2023		812,884		$	47.01		6.2	$	—

Fair Value of Stock Options Weighted-Average Assumptions Used

:

	For the Six Months Ended December 31,
	2023			2022
Risk-free interest rate		4.5	%		2.9	%
Expected life (years)		5.7			6.0
Volatility		90.0	%		84.1	%
Dividend yield		—	%		—	%
Weighted-average grant date fair value	$	5.18		$	7.80