Share-Based Compensation Plans (Tables)

12 Months Ended

Jun. 30, 2020

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

Information about the Company’s stock options that do not have performance conditions is provided below.

	Year Ended June 30,
	2020					2019
(In thousands, except per share amounts)	Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Outstanding, beginning of the year		3,585		$	9.19		3,107		$	10.93
Granted		1,219			3.28		1,172			4.49
Exercised		(100	)		3.94		(65	)		2.40
Forfeited		(474	)		3.82		(317	)		7.17
Expired		(384	)		12.06		(312	)		12.44
Outstanding, end of the year		3,846		$	7.82		3,585		$	9.19
Exercisable, end of the year		2,418					2,167
Weighted average fair value of options granted during the year	$	2.10				$	2.89

Summary of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable

The table below summarizes information about stock options (i) exercisable and (ii) vested and expected to vest as of June 30, 2020.

(In thousands, except per share amounts)	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Contractual Life (in years)
Vested and expected to vest		3,720	$	7.96	$	4,156		6.80
Exercisable		2,418		10.15		1,912		5.76

Summary of Total Share-based Expense Associated with Stock Options and Restricted Shares

The table below presents the allocation of total share-based expense for the years indicated.

	Year Ended June 30,
In thousands	2020		2019
Research and development	$	1,451	$	1,895
General and administrative		1,547		2,134
Totals	$	2,998	$	4,029

Stock Option Pricing Model Assumption

The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes stock option pricing model. Below are the assumptions that were used when estimating fair value for the years indicated.

	Year Ended June 30,
Assumption	2020			2019
Dividend yield		0.00	%		0.00	%
Expected term		6.00 to 6.25 years			6.00 to 6.25 years
Risk-free interest rate		0.42% to 1.90	%		1.82% to 3.11	%
Expected volatility		71.20	%		69.22	%