Share-based Compensation (Tables)

6 Months Ended

Dec. 31, 2024

Share-Based Compensation Expense for Stock Awards

Total share-based compensation 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,
	2024			2023		2024			2023
Research and development	$	(53	)	$	129	$	(159	)	$	60
General and administrative		(50	)		721		(79	)		1,153
Total share-based compensation	$	(103	)	$	850	$	(238	)	$	1,213

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, 2024		1,357,213		$	31.60
Forfeited		(402,490	)	$	25.14
Outstanding at December 31, 2024		954,723		$	34.32		6.3	$	—
Vested and expected to vest at December 31, 2024		954,723		$	34.32		6.3	$	—

Fair Value of Stock Options Weighted-Average Assumptions Used

following weighted-average assumptions were used for the period presented:

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