Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.21.2
Stockholders' Equity (Tables)
3 Months Ended
Sep. 30, 2021
Class Of Stock [Line Items]  
Schedule of Stock Option Expense

 

 

 

Three months ended

September 30,

 

 

 

2021

$

 

 

2020

$

 

Research and development

 

 

244

 

 

 

91

 

General and administrative

 

 

567

 

 

 

314

 

 

 

 

811

 

 

 

405

 

 

Schedule of Unvested Stock Options

 

 

 

Number of

Options

(in thousands)

 

 

Weighted

average

exercise

price

$

 

Unvested at June 30, 2021

 

 

3,860

 

 

 

1.60

 

Granted

 

 

435

 

 

 

1.24

 

Vested

 

 

(536

)

 

 

1.62

 

Unvested at September 30, 2021

 

 

3,759

 

 

 

1.56

 

 

Schedule of Warrants

 

 

Number of

Warrants

(in thousands)

 

 

Weighted

average

exercise

price

$

 

Balance – June 30, 2021

 

 

6,974

 

 

 

3.34

 

Issuance of 2022 Investor Warrants

 

 

12,000

 

 

 

1.25

 

Issuance of PFW

 

 

4,800

 

 

 

0.001

 

Issuance of 2022 Agent Warrants

 

 

600

 

 

 

1.5625

 

Exercise of PFW

 

 

(4,800

)

 

 

0.001

 

Exercise of 2020 Investor Warrants

 

 

(69

)

 

 

1.00

 

Expiry of Adgero replacement warrants

 

 

(353

)

 

 

3.18

 

Balance – September 30, 2021

 

 

19,152

 

 

 

1.99

 

 

 

Schedule of Changes in Outstanding Warrants

Description of warrants

 

Number

(in thousands)

 

 

Exercise

price $

 

 

Expiry date

 

 

 

 

 

 

 

 

 

 

 

2022 Investor warrants

 

 

12,000

 

 

 

1.25

 

 

March 28, 2025

2020 Investor warrants

 

 

3,264

 

 

 

1.00

 

 

August 16, 2024

2019 Investor warrants

 

 

760

 

 

 

3.10

 

 

June 5, 2024

2018 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

Warrants issued for services

 

 

6

 

 

 

17.80

 

 

January 25, 2023

Warrants issued for services

 

 

34

 

 

 

11.70

 

 

February 27, 2023

Warrants issued for services

 

 

14

 

 

 

9.00

 

 

September 15, 2023

Warrants issued for services

 

 

280

 

 

 

0.75

 

 

October 11, 2023

Warrants issued for services

 

 

125

 

 

 

0.64

 

 

November 18, 2023

Warrants issued for services

 

 

280

 

 

 

1.49

 

 

January 20, 2024

Warrants issued for services

 

 

50

 

 

 

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

2022 Agent warrants

 

 

600

 

 

 

1.56

 

 

March 28, 2025

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

Adgero Warrants

 

 

755

 

 

 

3.18

 

 

January 17, 2022

 

 

 

19,152

 

 

 

 

 

 

 

 

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

 

 

1,929

 

 

 

1.16

 

 

 

1,663

 

 

 

1,164

 

Series 2

 

 

219

 

 

 

1.21

 

 

 

180

 

 

 

126

 

Series 3

 

 

296

 

 

 

1.15

 

 

 

257

 

 

 

180

 

 

 

 

2,444

 

 

 

 

 

 

 

2,100

 

 

 

1,470

 

 

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

 

 

Balance

June 30, 2021

 

 

Number of

Warrants Issued

 

 

Number of

Warrants Exercised

 

 

Balance,

September 30, 2021

 

 

Conversion

price

$

 

Issuance of Preferred Series C-1 Agent Warrants

 

 

1,929

 

 

 

 

 

 

 

 

 

1,929

 

 

 

1.16

 

Issuance of Preferred Series C-2 Agent Warrants

 

 

219

 

 

 

 

 

 

 

 

 

219

 

 

 

1.21

 

Issuance of Preferred Series C-3 Agent Warrants

 

 

296

 

 

 

 

 

 

 

 

 

296

 

 

 

1.15

 

 

 

 

2,444

 

 

 

 

 

 

 

 

 

2,444

 

 

 

 

 

 

 

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, 2021

 

 

6,392

 

 

 

2.26

 

Granted

 

 

435

 

 

 

1.24

 

Expired

 

 

(18

)

 

 

13.11

 

Balance – September 30, 2021

 

 

6,809

 

 

 

2.16

 

 

Summary of Stock Options Currently Outstanding and Exercisable

 

Exercise price

$

 

 

Number

Outstanding at

September 30, 2021

(in thousands)

 

 

Weighted

average remaining

contractual life

(years)

 

 

Number

exercisable at

September 30, 2021

(in thousands)

 

 

0.61

 

 

 

816

 

 

 

7.93

 

 

 

747

 

 

0.74

 

 

 

250

 

 

 

8.12

 

 

 

83

 

 

1.24

 

 

 

435

 

 

 

9.98

 

 

 

 

 

1.36

 

 

 

300

 

 

 

8.98

 

 

 

100

 

 

1.37

 

 

 

75

 

 

 

9.58

 

 

 

 

 

1.70

 

 

 

4,699

 

 

 

8.96

 

 

 

1,886

 

 

6.10

 

 

 

17

 

 

 

7.11

 

 

 

17

 

 

8.70

 

 

 

11

 

 

 

6.09

 

 

 

11

 

 

9.83

 

 

 

84

 

 

 

6.64

 

 

 

84

 

 

10.60

 

 

 

3

 

 

 

6.54

 

 

 

3

 

 

11.70

 

 

 

30

 

 

 

1.41

 

 

 

30

 

 

15.77

 

 

 

3

 

 

 

0.67

 

 

 

3

 

 

20.00

 

 

 

9

 

 

 

0.34

 

 

 

9

 

 

21.10

 

 

 

7

 

 

 

5.77

 

 

 

7

 

 

29.60

 

 

 

2

 

 

 

3.35

 

 

 

2

 

 

37.60

 

 

 

5

 

 

 

4.36

 

 

 

5

 

 

41.00

 

 

 

4

 

 

 

5.11

 

 

 

4

 

 

42.00

 

 

 

30

 

 

 

1.88

 

 

 

30

 

 

44.80

 

 

 

3

 

 

 

4.36

 

 

 

3

 

 

49.50

 

 

 

13

 

 

 

5.38

 

 

 

13

 

 

53.20

 

 

 

8

 

 

 

4.60

 

 

 

8

 

 

61.60

 

 

 

2

 

 

 

1.50

 

 

 

2

 

 

92.00

 

 

 

3

 

 

 

1.67

 

 

 

3

 

 

 

 

 

 

6,809

 

 

 

 

 

 

 

3,050

 

 

Schedule of Valuation Assumptions Using a Black-Scholes Pricing Model

 

 

 

September 30,

2021

 

 

Dividend rate

 

 

 

%

Estimated volatility

 

93.9

 

%

Risk-free rate

 

1.55

 

%

Expected term – years

 

5.3

 

 

 

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 Agent Warrants

 

 

33

 

 

 

79

 

Conversion of Series C Preferred stock to common stock

 

 

(4,969

)

 

 

(3,713

)

Balance – June 30, 2021

 

 

20,092

 

 

 

14,652

 

Conversion of Series C Preferred stock to common stock

 

 

(1,710

)

 

 

(1,256

)

Balance – September 30, 2021

 

 

18,382

 

 

 

13,396

 

 

Schedule of Series C Preferred Stock Outstanding, Conversion Shares and Dividends

 

Series

 

Number

 

 

Conversion

price

$

 

 

Number of

conversion

shares

(in

thousands)

 

 

Dividend Shares (in thousands)

 

Series 1

 

 

15,439

 

 

 

1.16

 

 

 

13,310

 

 

 

9,414

 

Series 2

 

 

898

 

 

 

1.21

 

 

 

740

 

 

 

518

 

Series 3

 

 

2,045

 

 

 

1.15

 

 

 

1,778

 

 

 

1,263

 

 

 

 

18,382

 

 

 

 

 

 

 

15,828

 

 

 

11,195

 

 

 

Series C Dividends

 

Dividend Shares

(in thousands)

 

10% - August 19, 2021 (actual)

 

 

1,698

 

15% - August 19, 2022 (estimated)

 

 

2,374

 

20% - August 19, 2023 (estimated)

 

 

3,166

 

25% - August 19, 2024 (estimated)

 

 

3,957

 

 

 

 

11,195