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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Schedule of Revenue Associated with License Agreement

We recognized revenue associated with the KKC Commercialization Agreement for the periods presented (in thousands):

 

 

For the Fiscal Year Ended June 30,

 

 

 

2024

 

 

2023

 

Timing of Revenue Recognition:

 

 

 

 

 

 

Services performed over time

 

$

743

 

 

$

47,729

 

Pass through services at a point in time

 

 

9

 

 

 

1,087

 

 

$

752

 

 

$

48,816

 

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

As of June 30, 2024 and 2023, we had no balances in accounts receivable. Contract balances are as follows (in thousands):

 

 

June 30, 2024

 

 

June 30, 2023

 

 

June 30, 2022

 

Unbilled receivables

 

$

 

 

$

85

 

 

$

10,044

 

Contract liabilities included in deferred revenue and
    deferred revenue, net of current portion

 

$

 

 

$

317

 

 

$

30,900

 

A reconciliation of the beginning and ending amount of contract liabilities, which are primarily related to the combined performance obligation for the transfer of development services under the KKC Commercialization Agreement and are a separate performance obligation in our contracts pursuant to research plans under the agreements, was as follows for the periods presented:

 

 

June 30, 2024

 

 

June 30, 2023

 

Beginning balance

 

$

317

 

 

$

30,900

 

Recognized as revenue:

 

 

 

 

 

 

Revenue recognized upon satisfaction of performance obligations

 

 

(317

)

 

 

(5,411

)

Revenue recognized from change in estimate for performance
    obligations that are being closed

 

 

 

 

 

(16,565

)

Revenue recognized for performance obligations that will no longer
    commence

 

 

 

 

 

(8,607

)

Ending balance

 

$

 

 

$

317

 

Antidilutive Securities

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

 

 

For the Fiscal Year Ended June 30,

 

 

 

2024

 

 

2023

 

Stock options

 

 

1,357

 

 

 

1,285

 

Warrants

 

 

103

 

 

 

103

 

Total anti-dilutive shares

 

 

1,460

 

 

 

1,388