Share-Based Compensation and Employee Benefit Plans (Tables)

12 Months Ended

Jun. 30, 2017

Share-Based Compensation and Employee Benefit Plans

A summary of stock option activity under the 2015 Plan and 2016 Plan as of June 30, 2017 is as follows:


		Weighted		Weighted Average
		Average Exercise		Remaining Contractual
	Shares	Price		Term (in years)
Outstanding as of June 30, 2016	759,050	$	1.51	-
Granted	1,065,030	$	4.06
Forfeited	(636,500)	$	3.59
Outstanding as of June 30, 2017	1,187,580	$	2.68	7.07
Vested and exercisable as of June 30, 2017	451,754	$	1.90	5.78
Vested and expected to vest as of June 30, 2017	1,093,214	$	2.65	7.02

Schedule of valuation assumptions for stock options

The assumptions used to determine the value of the Company’s stock options granted to employees during the years ended June 30, 2017 and 2016 were as follows:


	2017					2016
Expected term	3.50		-	4.75	years	4.5		-	4.75	years
Expected volatility	78.8	%	-	85.0	%	84.0	%	-	85.1	%
Expected dividend yield	-	%				-	%
Risk-free interest rate	1.02	%	-	2.41	%	1.37	%	-	1.41	%

Schedule of valuation assumptions for ESPP

The assumptions used to value the shares under the ESPP using the Black-Scholes method were as follows:


Expected term	6 months
Expected volatility	77.7	%
Expected dividend yield	-	%
Risk-free interest rate	0.40	%