Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.21.1
Stockholders' Equity (Tables)
9 Months Ended
Mar. 31, 2021
Class Of Stock [Line Items]  
Schedule of Stock Option Expense

 

 

 

Three months ended

March 31,

 

 

Nine months ended

March 31,

 

 

 

2021

$

 

 

2020

$

 

 

2021

$

 

 

2020

$

 

Research and development

 

 

508

 

 

 

23

 

 

 

1,171

 

 

 

55

 

General and administrative

 

 

1,210

 

 

 

73

 

 

 

3,077

 

 

 

252

 

 

 

 

1,718

 

 

 

96

 

 

 

4,248

 

 

 

307

 

 

Schedule of Unvested Stock Options

 

 

 

Number of

Options

(in thousands)

 

 

Weighted

average

exercise

price

$

 

Unvested at June 30, 2020

 

 

858

 

 

 

0.98

 

Granted

 

 

4,999

 

 

 

1.68

 

Vested

 

 

(1,518

)

 

 

1.46

 

Forfeited

 

 

(14

)

 

 

1.42

 

Unvested at March 31, 2021

 

 

4,325

 

 

 

1.62

 

 

Schedule of Warrants

 

 

Number of

Warrants

(in thousands)

 

 

Weighted

average

exercise

price

$

 

Balance – June 30, 2020

 

 

10,309

 

 

 

2.71

 

Issuance of Adgero Warrants

 

 

2,314

 

 

 

3.18

 

Exercise of warrants (i)

 

 

(4,871

)

 

 

1.00

 

Warrants issued for services (ii)

 

 

600

 

 

 

1.74

 

Expiry of warrants (iii)

 

 

(126

)

 

 

30.00

 

Balance – March 31, 2021

 

 

8,226

 

 

 

3.36

 

 

(i)

A total of 4,399 2020 Investor Warrants were exercised at $1.00 per share and 472 warrants issued as either agent warrants or issued for services were exercised on a cashless basis for which 258 common shares were issued.

(ii)

Warrants issued for services are exercisable at various prices and expire at the various dates noted in the table below.

(iii)

The warrant expiries include the 2015 Investor Warrants, the 2015 Agent Warrants, and certain warrants issued for services. All of the expired warrants were exercisable at $30.00 per share.

Schedule of Changes in Outstanding Warrants

Description of warrants

 

Number

(in thousands)

 

 

Exercise

price $

 

 

Expiry date

2020 Investor warrants

 

 

3,338

 

 

 

1.00

 

 

August 16, 2024

2019 Investor warrants

 

 

760

 

 

 

3.10

 

 

June 5, 2024

2019 Investor warrants

 

 

280

 

 

 

12.50

 

 

September 22, 2022

2017 Investor warrants

 

 

208

 

 

 

35.00

 

 

April 19, 2022

NBTS Warrants

 

 

125

 

 

 

1.09

 

 

June 19, 2025 (i)

Warrants issued for services

 

 

6

 

 

 

17.80

 

 

January 25, 2023

Warrants issued for services

 

 

34

 

 

 

11.70

 

 

February 27, 2023

Warrants issued for services

 

 

12

 

 

 

9.00

 

 

September 15, 2023

Warrants issued for services

 

 

2

 

 

 

9.00

 

 

October 11, 2023

Warrants issued for services

 

 

280

 

 

 

0.75

 

 

November 18, 2023

Warrants issued for services

 

 

125

 

 

 

0.64

 

 

January 20, 2024

Warrants issued for services

 

 

330

 

 

 

1.49

 

 

September 22, 2023

Warrants issued for services

 

 

50

 

 

 

1.82

 

 

November 13, 2023

Warrants issued for services

 

 

100

 

 

 

1.47

 

 

January 20, 2024

Warrants issued for services

 

 

70

 

 

 

2.75

 

 

February 17, 2024

Warrants issued for services

 

 

50

 

 

 

2.38

 

 

February 25, 2024

2020 Underwriter Warrants

 

 

30

 

 

 

1.15

 

 

August 14, 2022

2019 Agent warrants

 

 

47

 

 

 

3.88

 

 

June 3, 2024

2018 Agent warrants

 

 

40

 

 

 

12.50

 

 

September 20, 2022

2017 Agent warrants

 

 

14

 

 

 

40.60

 

 

April 12, 2022

2016 Agent warrants

 

 

10

 

 

 

40.00

 

 

May 12, 2021

Adgero Warrants

 

 

1,206

 

 

 

3.18

 

 

April 8, 2021

Adgero Warrants

 

 

353

 

 

 

3.18

 

 

August 31, 2021

Adgero Warrants

 

 

756

 

 

 

3.18

 

 

January 17, 2022

 

 

 

8,226

 

 

 

 

 

 

 

 

(i)

NBTS Warrants were issued in connection with respect to the NBTS Loan (note 7).

Series C Warrants [Member]  
Class Of Stock [Line Items]  
Schedule of Changes in Outstanding Warrants

Series C Agent Warrants

 

Number

 

 

Conversion

price

$

 

 

Number of

conversion

shares

(in

thousands)

 

 

Cumulative

common

stock

dividends

(in

thousands)

 

Series 1

 

 

1,934

 

 

 

1.16

 

 

 

1,667

 

 

 

1,167

 

Series 2

 

 

219

 

 

 

1.21

 

 

 

180

 

 

 

126

 

Series 3

 

 

296

 

 

 

1.15

 

 

 

257

 

 

 

180

 

 

 

 

2,449

 

 

 

 

 

 

 

2,104

 

 

 

1,473

 

 

Schedule of Conversion of Series C Preferred Stock to Series C Warrants

 

 

Balance

June 30, 2020

 

 

Number of

Warrants Issued

 

 

Number of

Warrants Exercised

 

 

Balance,

March 31, 2021

 

 

Conversion

price

$

 

Issuance of Preferred Series C-1 Agent Warrants

 

 

 

 

 

1,959

 

 

 

(25

)

 

 

1,934

 

 

 

1.16

 

Issuance of Preferred Series C-2 Agent Warrants

 

 

 

 

 

219

 

 

 

 

 

 

219

 

 

 

1.21

 

Issuance of Preferred Series C-3 Agent Warrants

 

 

 

 

 

326

 

 

 

(30

)

 

 

296

 

 

 

1.15

 

 

 

 

 

 

 

2,504

 

 

 

(55

)

 

 

2,449

 

 

 

 

 

 

 

Stock options [Member]  
Class Of Stock [Line Items]  
Schedule of Outstanding Under the Legacy Plan

 

 

 

Number of

stock options

outstanding

(in thousands)

 

 

Weighted

average

exercise

price

 

Balance – June 30, 2020

 

 

1,559

 

 

 

4.61

 

Granted

 

 

4,999

 

 

 

1.68

 

Exercised

 

 

(69

)

 

 

0.61

 

Expired

 

 

(22

)

 

 

41.44

 

Forfeited

 

 

(14

)

 

 

1.42

 

Balance – March 31, 2021

 

 

6,453

 

 

 

2.26

 

 

 

Summary of Stock Options Currently Outstanding and Exercisable

 

Exercise price

$

 

 

Number

Outstanding at

March 31, 2021

(in thousands)

 

 

Weighted

average remaining

contractual life

(years)

 

 

Number

exercisable at

March 31, 2021

(in thousands)

 

 

0.61

 

 

 

941

 

 

 

8.43

 

 

 

836

 

 

0.74

 

 

 

250

 

 

 

8.61

 

 

 

42

 

 

1.36

 

 

 

300

 

 

 

9.48

 

 

 

50

 

 

1.70

 

 

 

4,699

 

 

 

9.46

 

 

 

943

 

 

6.10

 

 

 

30

 

 

 

7.60

 

 

 

28

 

 

7.00

 

 

 

3

 

 

 

7.23

 

 

 

3

 

 

8.70

 

 

 

12

 

 

 

6.59

 

 

 

12

 

 

9.83

 

 

 

83

 

 

 

7.14

 

 

 

79

 

 

10.60

 

 

 

4

 

 

 

7.03

 

 

 

4

 

 

11.70

 

 

 

30

 

 

 

1.91

 

 

 

30

 

 

15.90

 

 

 

3

 

 

 

1.17

 

 

 

3

 

 

20.00

 

 

 

9

 

 

 

0.83

 

 

 

9

 

 

21.10

 

 

 

14

 

 

 

6.27

 

 

 

14

 

 

29.60

 

 

 

5

 

 

 

3.84

 

 

 

5

 

 

37.60

 

 

 

5

 

 

 

4.86

 

 

 

5

 

 

41.00

 

 

 

4

 

 

 

5.61

 

 

 

4

 

 

42.00

 

 

 

33

 

 

 

2.37

 

 

 

33

 

 

44.80

 

 

 

3

 

 

 

4.86

 

 

 

3

 

 

49.50

 

 

 

13

 

 

 

5.88

 

 

 

13

 

 

53.20

 

 

 

8

 

 

 

5.10

 

 

 

8

 

 

61.60

 

 

 

1

 

 

 

2.00

 

 

 

1

 

 

92.00

 

 

 

3

 

 

 

2.17

 

 

 

3

 

 

 

 

 

 

6,453

 

 

 

 

 

 

 

2,128

 

 

Schedule of Valuation Assumptions Using a Black-Scholes Pricing Model

 

 

 

March 31,

2021

 

 

Dividend rate

 

 

 

%

Volatility

 

121% to 153

 

%

Risk-free rate

 

0.19% to 0.42

 

%

Term – years

 

0.4 to 5.8

 

 

 

Performance stock units [Member]  
Class Of Stock [Line Items]  
Schedule of Issuance of Series C Preferred Stock

 

 

 

Series C Preferred Stock

 

 

 

Number

of shares

 

 

$

(in thousands)

 

Balance – June 30, 2020

 

 

 

 

 

 

Issuance

 

 

25,028

 

 

 

18,286

 

Issued on exercise of Series C Preferred Agent Warrants

 

 

31

 

 

 

71

 

Conversion of Series C Preferred stock to common stock

 

 

(4,156

)

 

 

(3,106

)

Balance – March 31, 2021

 

 

20,903

 

 

 

15,251

 

 

Schedule of Conversion of Series B Preferred Stock to Common Stock

 

 

Series B Preferred Stock

(in thousands)

 

 

 

Number

of shares

 

 

$

 

Balance – June 30, 2020

 

 

649

 

 

 

4,525

 

Conversion of Series B Preferred stock to common

   stock

 

 

(48

)

 

 

(329

)

Balance – March 31, 2021

 

 

601

 

 

 

4,196