Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss     $ (39,059) $ (31,637)  
Share-based compensation expense     5,465 2,701  
Non-cash lease expense     233 221  
Accretion of discounts and amortization of premiums on marketable debt securities, net     (708)    
Loss from change in fair value of derivative liabilities $ 14 $ 12 40 8  
Depreciation and amortization expense     21 10  
Accretion of debt discount and issuance costs       319  
Changes in operating assets and liabilities:          
Decrease (increase) in prepaid expenses and other assets     (770) 17  
Increase in accounts payable     1,815 548  
Increase (decrease) in accrued liabilities     (168) 307  
Net Cash Used in Operating Activities     (33,131) (27,506) $ (39,600)
CASH FLOWS FROM INVESTING ACTIVITIES          
Purchase of marketable debt securities     (94,954)    
Purchase of property and equipment     (153)    
Total Cash Used in Investing Activities     (95,107)    
CASH FLOWS FROM FINANCING ACTIVITIES:          
Payment of commissions and other offering costs     (759) (3,449)  
Payment of debt discount and issuance costs       (104)  
Net Cash Provided by Financing Activities     11,571 54,875  
Net increase (decrease) in cash, cash equivalents and restricted cash     (116,667) 27,369  
Cash, cash equivalents and restricted cash at beginning of period     150,410 41,047 41,047
Cash, cash equivalents and restricted cash at end of period 33,743 68,416 33,743 68,416 150,410
Cash and cash equivalents, end of period 33,743 63,416 33,743 63,416 150,410
Restricted cash, end of period   5,000   5,000  
Total cash, cash equivalents and restricted cash, end of period $ 33,743 $ 68,416 33,743 68,416 $ 150,410
SUPPLEMENTARY CASH FLOW INFORMATION:          
Cash paid for interest       1,011  
Cash paid for amounts included in the measurement of operating lease liabilities     87 254  
Operating lease liabilities incurred in exchange for right-of-use assets     2,204    
NON-CASH INVESTING AND FINANCING ACTIVITIES:          
Issuance of commitment shares for deferred offering costs subsequently charged to additional paid-in capital       450  
2022 Private Placement          
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuances of common stock     $ 12,330    
2021 Underwritten Public Offering          
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuances of common stock       50,738  
2021 Registered Direct Offering          
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  
LPC Purchase Agreement          
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuances of common stock       $ 1,171