Income Taxes (Tables)

12 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Abstract]

Expense for Income Taxes

The expense (benefit) for income taxes is as follows (in thousands):

	Year Ended June 30,
	2017		2016		2015
Federal
Current	$	—	$	—	$	—
Deferred		—		—		—
Total Federal		—		—		—
State
Current		2		(5,054)		2
Deferred		—		—		—
Total State		2		(5,054)		2
Foreign
Current		19		—		56
Deferred		—		—		—
Total Foreign		19		—		56
Total Expense (Benefit)	$	21	$	(5,054)	$	58

Reconciliation of Statutory Tax Rates and Effective Tax Rates

A reconciliation of the statutory tax rates and the effective tax rates for each of the years ended June 30 is as follows:

	2017		2016		2015
Statutory rate	(34.0)	%	(34.0)	%	(34.0)	%
Foreign income tax	—	%	—	%	0.1	%
Change in valuation allowance	21.9	%	30.4	%	34.7	%
State income taxes, (net of federal tax benefit)	(4.8)	%	(2.8)	%	—	%
Permanent differences, (primarily warrant-related expenses)	15.3	%	—	%	—	%
Other	1.6	%	(1.6)	%	(0.7)	%
Effective rate	—	%	(8.0)	%	0.1	%

Tax Effects of Temporary Differences in Deferred Tax Assets

The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets as of June 30, 2017 and 2016 are presented below (in thousands):

	2017		2016
Deferred tax assets:
NOL carry forwards	$	134,476	$	103,171
Research and development credits		14,357		15,322
Property and equipment		3,406		3,693
Other		7,335		3,734
Total		159,574		125,920
Valuation allowance		(159,574)		(125,920)
Net deferred taxes	$	—	$	—