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FINANCIAL INSTRUMENTS AND SIGNIFICANT CONCENTRATIONS (Tables)
6 Months Ended
Dec. 31, 2023
FINANCIAL INSTRUMENTS AND SIGNIFICANT CONCENTRATIONS  
Schedule of financial assets measured at fair value on a recurring basis

The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the fair value hierarchy classification of such fair values as of December 31, 2023 and June 30, 2023 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurement of Assets as of December 31, 2023

​

​

Total

​

Level 1

​

Level 2

​

Level 3

Cash and cash equivalents:

​

​

​

​

​

​

​

​

​

​

​

​

Money market funds

​

$

5,272

​

$

5,272

​

$

—

​

$

—

U.S. Government treasuries

​

​

3,500

​

​

3,500

​

​

—

​

​

—

Corporate commercial paper

​

​

1,990

​

​

1,990

​

​

—

​

​

—

Marketable debt securities:

​

​

​

​

​

​

​

​

​

​

​

​

Corporate commercial paper

​

​

32,752

​

​

—

​

​

32,752

​

​

—

U.S. Government agencies

​

​

18,749

​

​

—

​

​

18,749

​

​

—

U.S. Government treasuries

​

​

997

​

​

997

​

​

—

​

​

—

Corporate notes and bonds

​

​

27,596

​

​

—

​

​

27,596

​

​

—

Asset-backed securities

​

​

3,352

​

​

—

​

​

3,352

​

​

—

Total

​

$

94,208

​

$

11,759

​

$

82,449

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurement of Assets as of June 30, 2023

​

​

Total

​

Level 1

​

Level 2

​

Level 3

Cash and cash equivalents:

​

​

​

​

​

​

​

​

​

​

​

​

Money market funds

​

$

5,464

​

$

5,464

​

$

—

​

$

—

Corporate commercial paper

​

​

4,481

​

​

4,481

​

​

—

​

​

—

Marketable debt securities:

​

​

​

​

​

​

​

​

​

​

​

​

Corporate commercial paper

​

​

41,597

​

​

—

​

​

41,597

​

​

—

U.S. Government agencies

​

​

26,394

​

​

—

​

​

26,394

​

​

—

U.S. Government treasuries

​

​

10,404

​

​

10,404

​

​

—

​

​

—

Corporate notes and bonds

​

​

19,240

​

​

—

​

​

19,240

​

​

—

Asset-backed securities

​

​

4,694

​

​

—

​

​

4,694

​

​

—

Total

​

$

112,274

​

$

20,349

​

$

91,925

​

$

-

Summary of changes in the fair value of the company's derivative liabilities, fair value, level 3 inputs The following table sets forth changes in the fair value of the Company’s embedded derivative liability for the six months ended December 31, 2023 and 2022 (in thousands):

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2023

 

2022

​

​

​

​

​

​

​

Fair value, beginning of period

​

$

412

​

$

407

Loss from change in fair value

​

​

27

​

​

26

Fair value, end of period

​

$

439

​

$

433