Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 188,790	$ 97,744
Restricted cash	113	113
Trade and other receivables	130	33
Prepaid and other assets	562	628
Total current assets	189,595	98,518
Property and equipment, net	115	131
Deposits	55	55
Prepaid and other assets	11	28
Right-of-use assets	905	860
Total assets	190,681	99,592
Current liabilities:
Trade and other payables	1,850	1,022
Accrued employee benefits	483	426
Lease liabilities, current portion	468	354
Total current liabilities	2,801	1,802
Lease liabilities, less current portion	519	495
Total liabilities	3,320	2,297
Stockholders' equity:
Preferred stock, $0.0001 par value - 5,000,000 shares authorized; no shares issued and outstanding at December 31, 2025 and June 30, 2025, respectively	0	0
Common stock, $0.0001 par value -160,000,000 shares authorized; 34,254,907 and 26,250,469 shares issued and outstanding at December 31, 2025 and June 30, 2025, respectively	3	2
Additional paid-in capital	437,219	326,308
Accumulated deficit	(248,978)	(228,176)
Accumulated other comprehensive loss	(883)	(839)
Total stockholders' equity	187,361	97,295
Total liabilities and stockholders' equity	$ 190,681	$ 99,592