Eloxx Pharmaceuticals (ELOX) 10-Q 14 Nov 14 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Sep. 30, 2014	Oct. 31, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q1	'
Entity Registrant Name	'Sevion Therapeutics, Inc.	'
Entity Central Index Key	'0001035354	'
Current Fiscal Year End Date	'--06-30	'
Entity Filer Category	'Smaller Reporting Company	'
Trading Symbol	'SVON	'
Entity Common Stock, Shares Outstanding	'	13,866,627

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Jun. 30, 2014
CURRENT ASSETS:	'	'
Cash and cash equivalents	$3,837,139	$6,111,340
Accounts receivable	43,133	43,133
Prepaid research supplies and expenses	163,147	1,069,925
Total Current Assets	4,043,419	7,224,398
Equipment, furniture and fixtures, net	262,633	223,475
Patent costs, net	123,531	2,178,867
Acquired research and development	9,800,000	9,800,000
Goodwill	13,902,917	13,902,917
Security deposit	5,171	5,171
TOTAL ASSETS	28,137,671	33,334,828
CURRENT LIABILITIES:	'	'
Accounts payable	613,020	901,180
Accrued expenses	1,074,168	923,991
Total Current Liabilities	1,687,188	1,825,171
Deferred tax liability	3,920,000	3,920,000
Other liabilities	99,728	99,728
TOTAL LIABILITIES	5,706,916	5,844,899
COMMITMENTS	'	'
STOCKHOLDERS' EQUITY:	'	'
Common stock, $0.01 par value, authorized 500,000,000 shares, issued and outstanding 13,846,361 and 13,846,361, respectively	138,463	138,463
Capital in excess of par	115,770,859	115,631,726
Accumulated deficit	-93,478,573	-88,280,266
Total Stockholders' Equity	22,430,755	27,489,929
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	28,137,671	33,334,828
Convertible preferred stock	'	'
Preferred stock	$6	$6

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Preferred stock, par value	$0.01	$0.01
Preferred stock, authorized	5,000,000	5,000,000
Common stock, par value	$0.01	$0.01
Common stock, authorized	500,000,000	500,000,000
Common stock, issued	13,846,361	13,846,361
Common stock, outstanding	13,846,361	13,846,361
Series A Convertible Preferred Stock	'	'
Preferred stock, shares issued	10,297	10,297
Preferred stock, shares outstanding	580	580
Preferred stock, liquidation preference	$609,000	$594,500

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Licensing Revenue	$0	$100,000
Operating expenses:	'	'
General and administrative	774,600	856,631
Research and development	2,120,156	810,937
Write-off of patents	2,290,836	185,161
Total operating expenses	5,185,592	1,852,729
Loss from operations	-5,185,592	-1,752,729
Interest expense - net	1,785	-31,604
Net loss	-5,183,807	-1,784,333
Preferred dividends	-14,500	-21,623
Loss applicable to common shares	-5,198,307	-1,805,956
Other comprehensive loss	0	0
Comprehensive loss	($5,198,307)	($1,805,956)
Basic and diluted net loss per common share	($0.38)	($0.78)
Basic and diluted weighted-average number of common shares outstanding	13,846,361	2,307,926

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $)	Total	Preferred stock	Common Stock	Capital in Excess of Par Value	Accumulated Deficit
Beginning Balance at Jun. 30, 2014	$27,489,929	$6	$138,463	$115,631,726	($88,280,266)
Beginning Balance (in shares) at Jun. 30, 2014	'	580	13,846,361	'	'
Stock-based compensation	139,133	0	0	139,133	0
Stock-based compensation (in shares)	'	0	0	'	'
Dividends accrued and unpaid at September 30, 2014	-14,500	0	0	0	-14,500
Net loss	-5,183,807	0	0	0	-5,183,807
Ending Balance at Sep. 30, 2014	$22,430,755	$6	$138,463	$115,770,859	($93,478,573)
Ending Balance (in shares) at Sep. 30, 2014	'	580	13,846,361	'	'

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:	'	'
Net loss	($5,183,807)	($1,784,333)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Stock-based compensation expense	139,133	124,466
Depreciation and amortization	60,146	74,793
Write-off of intangibles	2,290,836	185,161
Write-off of prepaid research supplies	669,750	0
(Increase) decrease in operating assets:	'	'
Prepaid expenses and other current assets	237,028	352,705
Increase (decrease) in operating liabilities:	'	'
Accounts payable	-288,160	366,504
Accrued expenses	135,677	10,239
Net cash used in operating activities	-1,939,397	-670,465
Cash flows from investing activities:	'	'
Capitalized Patent costs	-260,477	-142,943
Purchase of equipment, furniture and fixtures	-74,327	0
Net cash used in investing activities	-334,804	-142,943
Cash flows from financing activities:	'	'
Proceeds from issuance of common stock and warrants, net and exercise of warrants and options	0	290
Net cash provided by financing activities	0	290
Net (decrease) increase in cash and cash equivalents	-2,274,201	-813,118
Cash and cash equivalents at beginning of period	6,111,340	1,602,294
Cash and cash equivalents at end of period	3,837,139	789,176
Supplemental disclosure of non-cash transactions:	'	'
Conversion of preferred stock into common stock	0	73,331
Issuance of common stock for dividend payments on preferred stock	0	12,623
Dividends accrued on preferred stock	14,500	9,000
Supplemental disclosure of cash flow information:	'	'
Cash paid for interest	$543	$32,197

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Note 1 - Basis of Presentation:
	The financial statements included herein have been prepared by Sevion Therapeutics, Inc. (the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2014.
	On September 29, 2014, the Company changed its name from Senesco Technologies, Inc. to Sevion Therapeutics, Inc.
	In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting solely of those which are of a normal recurring nature, necessary to present fairly its financial position as of September 30, 2014 and the results of its operations for the three months ended September 30, 2014 and cash flows for the three months ended September 30, 2014.
	Certain prior year amounts have been reclassified from general and administrative expenses to research and development expenses for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations or cash flows from operations in the Consolidated Condensed Statement of Cash Flows, and had no effect on the previously reported Consolidated Condensed Statement of Operations for any period.
	Interim results are not necessarily indicative of results for the full fiscal year.

Liquidity

Liquidity	3 Months Ended
	Sep. 30, 2014
Liquidity [Abstract]	'
Liquidity	'
	Note 2 – Liquidity:
	As shown in the accompanying condensed consolidated financial statements, the Company has a history of losses with an accumulated deficit of $93,478,573 and has generated minimal revenues by licensing its technology for certain crops to companies willing to share in its development costs. In addition, the Company’s technology may not be ready for commercialization for several years. The Company expects to continue to incur losses for the next several years because it anticipates that its expenditures on research and development and administrative activities will significantly exceed its revenues during that period. The Company cannot predict when, if ever, it will become profitable.
	As of September 30, 2014, the Company had cash and cash equivalents in the amount of $3,837,139, which consisted of checking accounts and money market funds. The Company estimates that its cash and cash equivalents as of September 30, 2014 will cover its expenses through at least March 31, 2015.
	On October 22, 2014, the Company’s board of directors decided to suspend all development of the Company’s Factor 5A technology based on the Company’s limited capital resources and the totality of the safety and efficacy data resulting from our Phase 1b/2a clinical trial. Depending on the Company’s future capital resources, possible options for the program are to (i) reformulate the drug to alleviate some of the adverse events observed in the clinical trial and to enhance the efficacy, (ii) partner or sell the program or (iii) discontinue development. The Company’s board of directors continues to evaluate the alternatives.
	The Company will need additional capital to operate and expand its research program and plans to raise additional capital possibly through the exercise of outstanding warrants, placement of debt instruments, equity instruments or any combination thereof. However, the Company may not be able to obtain adequate funds for its operations when needed or on acceptable terms. If the Company is unable to raise additional funds, it will need to do one or more of the following:
		·	delay, scale-back or eliminate some or all of its research and product development programs;
		·	license third parties to develop and commercialize products or technologies that it would otherwise seek to develop and commercialize itself;
		·	seek strategic alliances or business combinations;
		·	attempt to sell the Company;
		·	cease operations; or
		·	declare bankruptcy.

Patent_Costs

Patent Costs	3 Months Ended
	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Patent Costs	'
	Note 3 – Patent Costs:
	The Company conducts research and development activities, the cost of which is expensed as incurred, in order to generate patents that can be licensed to third parties in exchange for license fees and royalties. Because the patents are the basis of the Company’s future revenue, the patent costs are capitalized. The capitalized patent costs represent the outside legal fees incurred by the Company to submit and undertake all necessary efforts to have such patent applications issued as patents. The Company incurred $260,477 and $142,943 of such costs for the three months ended September 30, 2014 and 2013, respectively.
	The length of time that it takes for an initial patent application to be approved is generally between four to six years. However, due to the unique nature of each patent application, the actual length of time may vary. If a patent application is denied, the associated cost of that application would be written off. Additionally, should a patent application become impaired during the application process, the Company would write down or write off the associated cost of that patent application.
	Issued patents are being amortized over a period of 17 years from inception, the expected economic life of the patent. During the three months ended September 30, 2014 and 2013, the Company recorded amortization expense in the amount of $24,977 and $74,270, respectively.
	The Company assesses the impairment in value of intangible assets whenever events or circumstances indicate that their carrying value may not be recoverable. Factors the Company considers important which could trigger an impairment review include the following:
	• significant negative industry trends;
	• significant underutilization of the assets;
	• significant changes in how the Company uses the assets or its plans for their use; and
	• changes in technology and the appearance of competing technology.
	If a triggering event occurs and the Company's review determines that the future undiscounted cash flows related to the asset group will not be sufficient to recover their carrying value, the Company will reduce the carrying values of these assets down to its estimate of fair value and continue amortizing them over their remaining useful lives.
	In October 2014, the Company decided to continue to develop our intellectual property only with respect to the human health therapeutic targets and would be reviewing such patents on a patent by patent basis to determine which specific ones to continue to develop. Also, in October 2014, the Company decided to suspend all development of the Factor 5A technology based on the Company’s limited capital resources and the totality of the safety and efficacy data resulting from our Phase 1b/2a clinical trial. As the Company is unable to determine if or when the development will be resumed, the Company was unable to determine what the future undiscounted cash flows from these patents could be. Therefore, as of September 30, 2014, the Company determined that carrying value of its patents and patent applications related to Factor 5A were impaired. Accordingly, the Company recorded an impairment of the full carrying value of its patents related to Factor 5A in the amount of $2,290,836.
	Additionally, during the quarter ended September 30, 2014, the Company concluded its Phase 1b /2a clinical trial but did not use all of the material purchased for the clinical trial. As the Company has put the clinical program for this product candidate on hold, the Company wrote-off the cost of the remaining material in the amount of $669,750 at September 30, 2014.

Loss_Per_Share

Loss Per Share	3 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Loss Per Share	'
	Note 4 - Loss Per Share:
	Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of the Company’s Common Stock assumed to be outstanding during the period of computation. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional shares of Common Stock that would have been outstanding if the potential shares of Common Stock had been issued and if the additional shares of Common Stock were dilutive.
	For all periods presented, basic and diluted loss per share are the same, as any additional Common Stock equivalents would be anti-dilutive. Potentially dilutive shares of Common Stock have been excluded from the calculation of the weighted average number of dilutive shares of Common Stock as follows:
		September 30,
		2014	2013
	Common Stock to be issued upon conversion of convertible preferred stock	290,000	193,333
	Outstanding warrants	7,237,774	282,866
	Outstanding options	970,392	277,240
	Total potentially dilutive shares of Common Stock	8,498,166	753,439

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock-Based Compensation	'
	Note 5 – Stock-Based Compensation:
	The terms and vesting schedules for share-based awards vary by type of grant and the employment status of the grantee. Generally, the awards vest based upon time-based conditions or achievement of specified goals and milestones.
	On September 13, 2013, the Company issued 46,780 options that are subject to vesting first based upon specified goals and milestones and then based upon time-based conditions. On the issuance date, such options had an aggregate Black-Scholes value of $201,154. In September, 2014, the Company and the Company’s compensation committee reviewed the specified goals and milestones on an employee by employee basis. Based upon the review, the Company and the Company’s compensation committee determined that, on average, the employees achieved 81% of the target goals. As a result, the Company is recognizing 81% of the aggregate fair value of the options ratably over the time-based vesting period and the remaining 19% of those options were forfeited.
	Also, during the three months ended September 30, 2013, the Company issued an additional 26,500 options that are subject to time-based conditions only. On the issuance date, such options had an aggregate Black-Scholes value of $108,650.
	The Company did not issue any options during the three month period ended September 30, 2014.
	The fair value of each stock option granted or vesting has been determined using the Black-Scholes model. The material factors incorporated in the Black-Scholes model in estimating the value of the options include the following:
			Three Months Ended September 30,
			2014		2013
	Risk-free interest rate (1)		-		1.6 - 2.0%
	Expected volatility(2)		-		99%
	Dividend yield		-		None
	Expected life (3)		-		5.5 - 10.0
		-1	Represents the interest rate on a U.S. Treasury security with a maturity date corresponding to that of the option term.
		(2)	Estimated volatility was determined based upon the historical volatility of the Company’s Common Stock.
		-3	Expected life for time based stock options was estimated using the “simplified” method, as allowed under the provisions of the Securities and Exchange Commission Staff Accounting Bulletin No. 110. Expected life for performance based stock options was the actual term of the option.
	The economic values of the options will depend on the future price of the Company's Common Stock, which cannot be forecast with reasonable accuracy.
	Stock option activity under the Company’s 2008 Plan and 1998 Plan for the three months ended September 30, 2014 is summarized as follows:
						Weighted
			Aggregate			Average		Exercise Price
			Number			Exercise Price		Range
	Outstanding, June 30, 2014			979,304			9.49		$2.65 – $345.00
	Granted			-			-		-
	Exercised			-			-		-
	Cancelled			-8,912			5.4		5.4
	Expired			-			-		-
	Outstanding,September 30, 2014			970,392		$	9.52		$2.65 - $345.00
	Options exercisable at September 30, 2014			458,304		$	16.73
	As of September 30, 2014, the aggregate intrinsic value of stock options outstanding was $0, with a weighted-average remaining term of 8.8 years. The aggregate intrinsic value of stock options exercisable at that same date was $0, with a weighted-average remaining term of 8.0 years. As of September 30, 2014, the Company has 265,582 shares available for future stock option grants.
	Stock-based compensation expense for the three months ended September 30, 2014 and September 30, 2013 amounted to $139,133 and $124,466, respectively.
	As of September 30, 2014, total stock-based compensation expense not yet recognized related to stock option grants amounted to approximately $1,137,000, which will be recognized over the next 45 months.

Income_Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Note 6 – Income Taxes:
	No provision for income taxes has been made for the three months ended September 30, 2014 and 2013 given the Company’s losses in 2014 and 2013 and available net operating loss carryforwards. A benefit has not been recorded as the realization of the net operating losses is not assured and the timing in which the Company can utilize its net operating loss carryforwards in any year or in total may be limited by provisions of the Internal Revenue Code regarding changes in ownership of corporations.
	The deferred tax liability in the amount of $ 3,920,000 was recorded in connection with the related goodwill from the Company’s acquisition of Fabrus, Inc. in May 2014.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Note 7 - Fair Value Measurements:
	The following tables provide the assets and liabilities carried at fair value measured on a recurring basis as of September 30, 2014 and June 30, 2014:
				Fair Value Measurement at September 30, 2014
		Carrying
		Value		Level 1		Level 2		Level 3
	Assets:
	Cash and cash equivalents	$	3,837,139	$	3,837,139	$	-	$	-
				Fair Value Measurement at June 30, 2014
		Carrying
		Value		Level 1		Level 2		Level 3
	Assets:
	Cash and cash equivalents	$	6,111,340	$	6,111,340	$	-	$	-

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
	Sep. 30, 2014
Accounting Changes and Error Corrections [Abstract]	'
Recent Accounting Pronouncements	'
	Note 8 – Recent Accounting Pronouncements
	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption.
	In August 2014, the FASB issued Accounting Standard Update (“ASU”) 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under the new guidance, management will be required to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. The provisions of this ASU are effective for annual periods beginning after December 15, 2016, and for annual and interim periods thereafter. We are currently evaluating the potential impact that this ASU may have on our financial statements or disclosures.
	In June 2014, the FASB issued ASU No. 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” This ASU requires a reporting entity to treat a performance target that affects vesting and that could be achieved after the requisite service period as a performance condition, and apply existing guidance under the Stock Compensation Topic of the ASC as it relates to awards with performance conditions that affect vesting to account for such awards. The provisions of this ASU are effective for interim and annual periods beginning after December 15, 2015. We are currently evaluating the potential impact that this ASU may have on our financial position and results of operations.

Loss_Per_Share_Tables

Loss Per Share (Tables)	3 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Weighted Average of Dilutive Shares of Common Stock	'
	Potentially dilutive shares of Common Stock have been excluded from the calculation of the weighted average number of dilutive shares of Common Stock as follows:
		September 30,
		2014	2013
	Common Stock to be issued upon conversion of convertible preferred stock	290,000	193,333
	Outstanding warrants	7,237,774	282,866
	Outstanding options	970,392	277,240
	Total potentially dilutive shares of Common Stock	8,498,166	753,439

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Material Factors Incorporated in Black Scholes Model in Estimating Value of Options and Warrants	'
	The material factors incorporated in the Black-Scholes model in estimating the value of the options include the following:
			Three Months Ended September 30,
			2014		2013
	Risk-free interest rate (1)		-		1.6 - 2.0%
	Expected volatility(2)		-		99%
	Dividend yield		-		None
	Expected life (3)		-		5.5 - 10.0
		-1	Represents the interest rate on a U.S. Treasury security with a maturity date corresponding to that of the option term.
		(2)	Estimated volatility was determined based upon the historical volatility of the Company’s Common Stock.
		-3	Expected life for time based stock options was estimated using the “simplified” method, as allowed under the provisions of the Securities and Exchange Commission Staff Accounting Bulletin No. 110. Expected life for performance based stock options was the actual term of the option.
Stock Option Activity	'
	Stock option activity under the Company’s 2008 Plan and 1998 Plan for the three months ended September 30, 2014 is summarized as follows:
						Weighted
			Aggregate			Average		Exercise Price
			Number			Exercise Price		Range
	Outstanding, June 30, 2014			979,304			9.49		$2.65 – $345.00
	Granted			-			-		-
	Exercised			-			-		-
	Cancelled			-8,912			5.4		5.4
	Expired			-			-		-
	Outstanding,September 30, 2014			970,392		$	9.52		$2.65 - $345.00
	Options exercisable at September 30, 2014			458,304		$	16.73

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Assets and Liabilities Carried at Fair Value Measured on Recurring Basis	'
	The following tables provide the assets and liabilities carried at fair value measured on a recurring basis as of September 30, 2014 and June 30, 2014:
				Fair Value Measurement at September 30, 2014
		Carrying
		Value		Level 1		Level 2		Level 3
	Assets:
	Cash and cash equivalents	$	3,837,139	$	3,837,139	$	-	$	-
				Fair Value Measurement at June 30, 2014
		Carrying
		Value		Level 1		Level 2		Level 3
	Assets:
	Cash and cash equivalents	$	6,111,340	$	6,111,340	$	-	$	-

Liquidity_Additional_Informati

Liquidity - Additional Information (Detail) (USD $)	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2013
Cash and Cash Equivalents [Line Items]	'	'	'	'
Deficit accumulated during the development stage	$93,478,573	$88,280,266	'	'
Cash and cash equivalents	$3,837,139	$6,111,340	$789,176	$1,602,294

Patent_Costs_Additional_Inform

Patent Costs - Additional Information (Detail) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Finite-Lived Intangible Assets [Line Items]	'	'
Payments to acquire intangible assets	$260,477	$142,943
Issued patents and agricultural patent applications pending amortization period	'17 years	'
Amortization of intangible assets	24,977	74,270
Impairment of intangible assets, finite-lived	2,290,836	185,161
Write-off of prepaid research supplies	$669,750	$0

Calculation_of_Weighted_Averag

Calculation of Weighted Average Number of Dilutive Shares of Common Stock (Detail)	Sep. 30, 2014	Sep. 30, 2013
Summary Of Significant Accounting Policies [Line Items]	'	'
Common Stock to be issued upon conversion of convertible preferred stock	290,000	193,333
Outstanding warrants	7,237,774	282,866
Outstanding options	970,392	277,240
Total potentially dilutive shares of Common Stock	8,498,166	753,439

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended
	Sep. 13, 2013	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Options issued	46,780	'	'
Aggregate Black-Scholes value	$201,154	'	'
Probability to achieve employee target goals	'	81.00%	'
Issuance of additional options	'	'	26,500
Options aggregated during period	'	108,650	'
Stock option outstanding intrinsic value	'	0	'
Option outstanding weighted average remaining term	'	'8 years 9 months 18 days	'
Exercisable aggregate intrinsic value	'	0	'
Weighted average option exercisable remaining life	'	'8 years	'
Shares available for future stock option grant	'	265,582	'
Stock based compensation	'	139,133	124,466
Unrecognized compensation expense	'	$1,137,000	'
Stock based compensation expense related to stock options, not yet recognized, period of recognition	'	'45 months	'

BlackScholes_OptionPricing_Mod

Black-Scholes Option-Pricing Model Assumptions used to Estimate Fair Value of Each Warrant and Option Grant (Detail)	3 Months Ended
	Sep. 30, 2014		Sep. 30, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'		'
Risk-free interest rate	0.00%	[1]	'
Expected volatility	0.00%	[2]	99.00%	[2]
Dividend yield	0.00%		0.00%
Expected life	'0 years	[3]	'
Maximum	'		'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'		'
Risk-free interest rate	'		2.00%	[1]
Expected life	'		'10 years	[3]
Minimum	'		'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'		'
Risk-free interest rate	'		1.60%	[1]
Expected life	'		'5 years 6 months	[3]
[1]	Represents the interest rate on a U.S. Treasury security with a maturity date corresponding to that of the option term.
[2]	Estimated volatility was determined based upon the historical volatility of the Companybs Common Stock.
[3]	Expected life for time based stock options was estimated using the bsimplifiedb method, as allowed under the provisions of the Securities and Exchange Commission Staff Accounting Bulletin No. 110. Expected life for performance based stock options was the actual term of the option.

Stock_Option_Activity_Detail

Stock Option Activity (Detail) (USD $)	3 Months Ended
	Sep. 30, 2014
Aggregate Number	'
Beginning Balance	979,304
Granted	0
Exercised	0
Cancelled	-8,912
Expired	0
Ending Balance	970,392
Options exercisable at end of Period	458,304
Weighted Average Exercise Price	'
Beginning Balance	$9.49
Granted	$0
Exercised	$0
Cancelled	$5.40
Expired	$0
Ending Balance	$9.52
Options exercisable at end of Period	$16.73
Exercise Price Range	'
Beginning Balance (Minimum)	$2.65
Beginning Balance (Maximum)	$345
Granted	$0
Exercised	$0
Cancelled	$5.40
Expired	$0
Ending Balance (Minimum)	$2.65
Ending Balance (Maximum)	$345

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Income Tax [Line Items]	'	'
Deferred Tax Liabilities, Net	$3,920,000	$3,920,000

Assets_and_Liabilities_at_Fair

Assets and Liabilities at Fair Value Measured on Recurring Basis (Detail) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash and cash equivalents	$3,837,139	$6,111,340
Level 1 | Fair Value Measurements Recurring Basis	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash and cash equivalents, Fair Value	3,837,139	6,111,340
Level 2 | Fair Value Measurements Recurring Basis	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash and cash equivalents, Fair Value	0	0
Level 3 | Fair Value Measurements Recurring Basis	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash and cash equivalents, Fair Value	$0	$0