Share-based Compensation (Tables)

12 Months Ended

Jun. 30, 2024

Share-Based Compensation Expense for Stock Awards

Total share-based compensation expense for all stock awards consists of the following, in thousands:

	For the Fiscal Year Ended June 30,
	2024		2023
Research and development	$	349	$	724
General and administrative		1,929		2,865
Total share-based compensation	$	2,278	$	3,589

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		290,437		$	6.92
Forfeited		(218,131	)	$	38.34
Outstanding at June 30, 2024		1,357,213		$	31.60		7.1	$	—
Vested and expected to vest at June 30, 2024		1,357,213		$	31.60		7.1	$	—

Fair Value of Stock Options Weighted-Average Assumptions Used

following weighted-average assumptions were used:

	For the Fiscal Year Ended June 30,
	2024			2023
Risk-free interest rate		4.5	%		3.2	%
Expected life (years)		5.7			6.0
Volatility		89.8	%		85.5	%
Dividend yield		—	%		—	%
Weighted-average grant date fair value	$	5.20		$	7.04