Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 14,291	$ 18,722
Short term investments	35,111	45,057
Total cash, cash equivalents and short-term investments	49,402	63,779
Prepaid expenses and other current assets	1,102	502
Total current assets	50,504	64,281
Intangible assets, net	374	401
Property and equipment, net	53	68
Total assets	50,931	64,750
Current liabilities:
Accounts payable	466	863
Accrued liabilities	3,559	4,096
Total current liabilities	$ 4,025	$ 4,959
Commitments and contingencies (Note 3)
Stockholders' equity:
Preferred stock, $0.01 par value; 100,000 shares authorized; none outstanding
Common stock, $0.00000002 par value; 113,000,000 shares authorized; 34,155,997 shares issued and outstanding at March 31, 2016 and June 30, 2015	$ 0	$ 0
Additional paid-in-capital	218,137	215,930
Accumulated deficit	(171,231)	(156,139)
Total stockholders' equity	46,906	59,791
Total liabilities and stockholders' equity	$ 50,931	$ 64,750

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).