Share-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2018

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

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes the components of share-based compensation expense in the consolidated statements of comprehensive loss for the fiscal years ended June 30, 2018, 2017 and 2016 (in thousands):

	Fiscal Year Ended June 30,
	2018		2017		2016
Research and development	$	2,414	$	2,600	$	2,245
General and administrative	1,610		1,733		1,496
Total share-based compensation expense	$	4,024	$	4,333	$	3,741

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

We estimated the fair value of options granted using a Black-Scholes option pricing model with the following assumptions:

	Years Ended June 30,
	2018	2017	2016
Expected dividend yield	—%	—%	—%
Expected option term (years)	4.84	5.04	5.03
Expected stock price volatility	70%	63%	58%
Risk-free interest rate	1.72% - 2.89%	1.16% - 2.15%	1.00% - 1.64%

Share-based Compensation, Stock Options, Activity

The following table summarizes all stock option activity for the year ended June 30, 2018:

					Weighted
			Weighted		Average Remaining	Aggregate
	Options		Average Exercise		Contractual	Intrinsic Value
	(in thousands)		Price Per Option		Term (Years)	(in thousands)
Options outstanding, beginning of year	2,893		$	3.48	3.96	$	15,490
Changes during the year:
Granted	1,370		$	14.90
Exercised	(586	)	$	3.86
Expired or forfeited	(128	)	$	10.19
Options outstanding, end of year	3,549		$	7.58	4.43	$	57,123
Vested as of June 30, 2018	1,852		$	3.47	2.90	$	37,420

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

Information regarding the Company's RSU's for the year ended June 30, 2018 is as follows:

Non-Vested Restricted Stock Units	Share Equivalent  (in thousands)	Weighted Average Grant Date Fair Value
Non-vested at June 30, 2017	1,500	$	2.28
Changes during the period:
Restricted Units Granted	35	8.46
Vested/Exercised	—	—
Non-vested at June 30, 2018	1,535	$	2.83

Schedule of Share-based Compensation, Performance Stock and Performance Stock Units Activity

The following table summarizes the Company's performance-based restricted stock unit activity for the year ended June 30, 2018 is presented below:

Non-Vested Performance Stock Units	Share Equivalent  (in thousands)	Weighted Average Grant Date Fair Value
Non-vested at June 30, 2017	—	$	—
Changes during the period:
Performance Units Granted	538	7.29
Canceled	—	—
Vested/Exercised	—	—
Non-vested at June 30, 2018	538	$	7.29