Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (23,082,189)	$ (25,659,603)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	15,261	22,193
Non-cash interest expense	160,711	161,478
Stock-based compensation	853,241	800,748
Changes in operating assets and liabilities:
Prepaid expenses and other assets	481,877	229,186
Accounts payable	3,992,124	1,269,795
Accrued expenses	(320,908)	(445,111)
Other non-current liabilities	168,358	173,913
Net cash used in operating activities	(17,731,525)	(23,447,401)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of investments	0	(1,387,022)
Purchases of property and equipment	0	(17,695)
Net cash used in investing activities	0	(1,404,717)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on capital lease obligations	(13,534)	(12,748)
Payment of withholding taxes related to restricted stock units	0	(131,959)
Payments on notes payable obligations	(2,000,000)	0
Proceeds from the sale of common stock and warrants, net of costs	23,856,972	19,834,278
Proceeds from the issuance of notes payable and warrants	0	10,000,000
Payment of debt issuance costs	0	(146,115)
Net cash provided by financing activities	21,843,438	29,543,456
NET INCREASE IN CASH AND CASH EQUIVALENTS	4,111,913	4,691,338
CASH AND CASH EQUIVALENTS, beginning of period	8,002,668	27,299,268
CASH AND CASH EQUIVALENTS, end of period	12,114,581	31,990,606
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	891,717	922,111
Issuance of warrants in connection with debt financing	0	305,196
Unrealized loss on available-for-sale investments	62	9,389
Non-cash equity financing costs in accrued expenses	$ 50,861	$ 0