Stockholders' Equity (Tables)
|
9 Months Ended |
Mar. 31, 2022 |
|---|
| Class Of Stock [Line Items] |
|
| Schedule of Stock Option Expense |
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|
Three months ended
March 31, |
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Nine months ended
March 31, |
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|
2022
$ |
|
|
2021
$ |
|
|
2022
$ |
|
|
2021
$ |
|
Research and development |
|
|
(29 |
) |
|
|
508 |
|
|
|
464 |
|
|
|
1,171 |
|
General and administrative |
|
|
671 |
|
|
|
1,210 |
|
|
|
1,819 |
|
|
|
3,077 |
|
|
|
|
642 |
|
|
|
1,718 |
|
|
|
2,283 |
|
|
|
4,248 |
|
|
| Schedule of Unvested Stock Options |
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|
Number of
Options
(in thousands) |
|
|
Weighted
average
exercise
price
$ |
|
Unvested at June 30, 2021 |
|
|
3,860 |
|
|
|
1.60 |
|
Granted |
|
|
3,964 |
|
|
|
0.99 |
|
Vested |
|
|
(1,556 |
) |
|
|
1.55 |
|
Forfeited |
|
|
(482 |
) |
|
|
1.64 |
|
Unvested at March 31, 2022 |
|
|
5,786 |
|
|
|
1.19 |
|
|
| Schedule of Warrants |
|
|
|
|
|
|
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|
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|
|
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 |
|
|
(1,108 |
) |
|
|
3.18 |
|
Balance – March 31, 2022 |
|
|
18,397 |
|
|
|
1.94 |
|
|
| 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 (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 |
|
|
14 |
|
|
|
9.00 |
|
|
September 15, 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 7, 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 |
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|
14 |
|
|
|
40.60 |
|
|
April 12, 2022 |
|
|
|
18,397 |
|
|
|
|
|
|
|
| Series C Warrants [Member] |
|
| Class Of Stock [Line Items] |
|
| Schedule of Changes in Outstanding Warrants |
|
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|
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 |
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|
Balance
June 30, 2021 |
|
|
Number of
Warrants Issued |
|
|
Number of
Warrants Exercised |
|
|
Balance,
March 31, 2022 |
|
|
Conversion
price
$ |
|
Preferred Series C-1 Agent Warrants |
|
|
1,929 |
|
|
|
— |
|
|
|
— |
|
|
|
1,929 |
|
|
|
1.16 |
|
Preferred Series C-2 Agent Warrants |
|
|
219 |
|
|
|
— |
|
|
|
— |
|
|
|
219 |
|
|
|
1.21 |
|
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 |
|
|
3,964 |
|
|
|
0.99 |
|
Expired |
|
|
(28 |
) |
|
|
15.45 |
|
Forfeited |
|
|
(482 |
) |
|
|
1.64 |
|
Balance – March 31, 2022 |
|
|
9,846 |
|
|
|
1.74 |
|
|
| Summary of Stock Options Currently Outstanding and Exercisable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercise price
$ |
|
|
Number
Outstanding at
March 31, 2022
(in thousands) |
|
|
Weighted
average remaining
contractual life
(years) |
|
|
Number
exercisable at
March 31, 2022
(in thousands) |
|
|
0.33 |
|
|
|
10 |
|
|
|
9.96 |
|
|
|
— |
|
|
0.61 |
|
|
|
816 |
|
|
|
7.43 |
|
|
|
781 |
|
|
0.74 |
|
|
|
250 |
|
|
|
7.61 |
|
|
|
125 |
|
|
0.96 |
|
|
|
3,519 |
|
|
|
9.60 |
|
|
|
— |
|
|
1.24 |
|
|
|
368 |
|
|
|
9.48 |
|
|
|
201 |
|
|
1.36 |
|
|
|
300 |
|
|
|
8.48 |
|
|
|
150 |
|
|
1.37 |
|
|
|
75 |
|
|
|
9.08 |
|
|
|
— |
|
|
1.70 |
|
|
|
4,283 |
|
|
|
8.46 |
|
|
|
2,578 |
|
|
6.10 |
|
|
|
17 |
|
|
|
6.60 |
|
|
|
17 |
|
|
8.70 |
|
|
|
12 |
|
|
|
5.59 |
|
|
|
12 |
|
|
9.83 |
|
|
|
83 |
|
|
|
6.14 |
|
|
|
83 |
|
|
10.60 |
|
|
|
4 |
|
|
|
6.03 |
|
|
|
4 |
|
|
11.70 |
|
|
|
30 |
|
|
|
0.91 |
|
|
|
30 |
|
|
15.99 |
|
|
|
2 |
|
|
|
0.21 |
|
|
|
2 |
|
|
21.10 |
|
|
|
7 |
|
|
|
5.27 |
|
|
|
7 |
|
|
29.60 |
|
|
|
2 |
|
|
|
2.84 |
|
|
|
2 |
|
|
37.60 |
|
|
|
5 |
|
|
|
3.86 |
|
|
|
5 |
|
|
41.00 |
|
|
|
4 |
|
|
|
4.61 |
|
|
|
4 |
|
|
42.00 |
|
|
|
30 |
|
|
|
1.37 |
|
|
|
30 |
|
|
44.80 |
|
|
|
3 |
|
|
|
3.86 |
|
|
|
3 |
|
|
49.50 |
|
|
|
13 |
|
|
|
4.88 |
|
|
|
13 |
|
|
53.20 |
|
|
|
8 |
|
|
|
4.10 |
|
|
|
8 |
|
|
61.60 |
|
|
|
2 |
|
|
|
1.00 |
|
|
|
2 |
|
|
92.00 |
|
|
|
3 |
|
|
|
1.17 |
|
|
|
3 |
|
|
|
|
|
9,846 |
|
|
|
|
|
|
4,060 |
|
|
| Schedule of Valuation Assumptions Using a Black-Scholes Pricing Model |
|
|
|
|
|
|
|
|
March 31, 2022 |
|
|
Dividend rate |
|
|
— |
|
% |
Estimated volatility |
|
|
91.71 |
|
% |
Risk-free rate |
|
|
1.78 |
|
% |
Expected term – years |
|
|
5.99 |
|
|
|
| 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, 2021 |
|
|
20,092 |
|
|
|
14,652 |
|
Conversion of Series C Preferred stock to common stock |
|
|
(3,254 |
) |
|
|
(2,377 |
) |
Balance – March 31, 2022 |
|
|
16,838 |
|
|
|
12,275 |
|
|
| Schedule of Series C Preferred Stock Outstanding, Conversion Shares and Aggregate Dividends |
The Company’s Series C Preferred Stock outstanding, conversion shares, and aggregate dividends as of March 31, 2022, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series |
|
Number |
|
|
Conversion
price
$ |
|
|
Number of
conversion
shares
(in
thousands) |
|
|
Dividend Shares (in thousands) |
|
Series 1 |
|
|
13,945 |
|
|
|
1.16 |
|
|
|
12,022 |
|
|
|
8,641 |
|
Series 2 |
|
|
898 |
|
|
|
1.21 |
|
|
|
740 |
|
|
|
518 |
|
Series 3 |
|
|
1,995 |
|
|
|
1.15 |
|
|
|
1,734 |
|
|
|
1,237 |
|
|
|
|
16,838 |
|
|
|
|
|
|
14,496 |
|
|
|
10,396 |
|
|
|
|
|
|
Series C Dividends |
|
Dividend Shares
(in thousands) |
|
10% - August 19, 2021 (actual) |
|
|
1,698 |
|
15% - August 19, 2022 (estimated) |
|
|
2,174 |
|
20% - August 19, 2023 (estimated) |
|
|
2,899 |
|
25% - August 19, 2024 (estimated) |
|
|
3,625 |
|
|
|
|
10,396 |
|
|