Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (41,060) $ (20,902)
Gain from change in fair value of derivative liabilities, net (6,545) (1,789)
Underwriting discount on issuance of derivative 2,495  
Share-based compensation expense 3,685 3,965
Loss on extinguishment of Loan Agreement    
Prepayment premium paid 300  
Other 1,471  
Accretion of debt discount and issuance costs 424 86
Non-cash lease expense 243 290
Depreciation and amortization expense 13 13
Fair value of warrants issued for services   8
Fair value of shares of common stock issued for services   8
Changes in operating assets and liabilities:    
Increase prepaid expenses and other assets (860) (387)
Increase (decrease) in accounts payable (11) 142
Increase (decrease) in other accrued liabilities 229 (66)
Decrease in license fees payable to XOMA   (1,809)
Net Cash Used in Operating Activities (39,616) (20,441)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of commissions and other deferred offering costs (3,716) (3,730)
Gross proceeds from Loan Agreement   15,000
Payment of debt discount and issuance costs (254) (737)
Prepayment of contractual obligations under Loan Agreement, including prepayment fee (16,013)  
Net Cash Provided by Financing Activities 148,979 51,533
Net increase in cash, cash equivalents and restricted cash 109,363 31,092
Cash, cash equivalents and restricted cash at beginning of fiscal year 41,047 9,955
Cash, cash equivalents and restricted cash at end of fiscal year 150,410 41,047
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Cash and cash equivalents, end of fiscal year 150,410 41,047
Total cash, cash equivalents and restricted cash, end of fiscal year 150,410 41,047
SUPPLEMENTARY CASH FLOW INFORMATION:    
Cash paid for interest 1,487 177
Right-of-use assets acquired in exchange for operating lease liabilities   302
Cash paid for amounts included in the measurement of operating lease liabilities 254 299
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Reclassification of derivative liabilities to equity upon cure of authorized share deficiency 35,025 1,796
Issuance of commitment shares for deferred offering costs subsequently charged to additional paid-in capital 450  
Payables for deferred offering costs subsequently charged to additional paid-in capital 61  
Reclassification of warrants and stock options from equity to derivative liability due to authorized share deficiency   3,591
Debt discounts incurred for:    
Final Fee obligation under debt agreement   713
Allocation of debt proceeds to embedded derivative obligations   381
Payables for debt issuance costs   25
Furniture and equipment received as inducement under operating lease   10
Class A pre-funded warrants    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from warrants issued 7,048  
Class B Pre-Funded Warrants    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from warrants issued 39,094  
Pre-Funded Warrants 2021 [Member]    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from warrants issued 10,783  
Registered Direct Offering 2021 [Member]    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuances of common stock 5,000  
EDA with Oppco    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuances of common stock 1,519  
Lincoln Park Capital Fund, LLC Purchase Agreement [Member]    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuances of common stock 1,172  
Registered Direct Offering 2022    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuances of common stock 64,390  
2021 Underwritten Public Offering    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuances of common stock 39,956  
2021 Underwritten Public Offering | Pre-Funded Warrants 2021 [Member]    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from warrants issued $ 10,800  
Fiscal 2021 Equity Financing [Member]    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuances of common stock   $ 41,000