Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (51,787) $ (41,060)
Share-based compensation expense 7,268 3,685
Non-cash lease expense 352 243
Loss from change in fair value of derivative liabilities 5  
Accretion of discounts and amortization of premiums on marketable debt securities, net (1,370)  
Depreciation and amortization expense 30 13
Gain from change in fair value of derivative liabilities, net   (6,545)
Underwriting discount on issuance of derivative   2,495
Loss on extinguishment of Loan Agreement:    
Prepayment premium paid   300
Other   1,471
Accretion of debt discount and issuance costs   424
Changes in operating assets and liabilities:    
Increase in prepaid expenses and other assets (1,320) (860)
Increase (decrease) in accounts payable 2,136 (11)
Increase in accrued liabilities 205 229
Net Cash Used in Operating Activities (44,481) (39,616)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of marketable debt securities (107,311)  
Proceeds from maturities of marketable debt securities 6,000  
Purchase of property and equipment (153)  
Total Cash Used in Investing Activities (101,464)  
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of commissions and other offering costs (759) (3,716)
Payment of debt discount and issuance costs   (254)
Prepayment of contractual obligations under Loan Agreement, including prepayment fee   (16,013)
Net Cash Provided by Financing Activities 11,571 148,979
Net (decrease) increase in cash, cash equivalents and restricted cash (134,374) 109,363
Cash, cash equivalents and restricted cash at beginning of period 150,410 41,047
Cash, cash equivalents and restricted cash at end of period 16,036 150,410
Cash and cash equivalents, end of year 16,036 150,410
Total cash, cash equivalents and restricted cash, end of year 16,036 150,410
SUPPLEMENTARY CASH FLOW INFORMATION:    
Cash paid for interest   1,487
Cash paid for amounts included in the measurement of operating lease liabilities 215 254
Operating lease liabilities incurred in exchange for right-of-use assets 2,204  
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Reclassification of derivative liabilities to equity upon cure of authorized share deficiency   35,025
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
2021 Pre-Funded Warrants    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from warrants issued   10,783
Class A Warrants    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from warrants issued   7,048
Class B Warrants    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from warrants issued   39,094
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   39,956
2021 Underwritten Public Offering | 2021 Pre-Funded Warrants    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from warrants issued   10,800
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   1,172
Registered Direct Offering 2022    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuances of common stock   $ 64,390