Eloxx Pharmaceuticals (ELOX) 10-K 13 Oct 16 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2016	Sep. 30, 2016	Dec. 31, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	Sevion Therapeutics, Inc.
Entity Central Index Key	1,035,354
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 6,807,255
Trading Symbol	SVON
Entity Common Stock, Shares Outstanding		20,496,385

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2016	Jun. 30, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 810,808	$ 3,334,626
Prepaid expenses and other current assets	171,820	395,100
Total Current Assets	982,628	3,729,726
Equipment, furniture and fixtures, net	92,554	185,948
Acquired research and development	8,100,000	9,800,000
Goodwill	0	5,780,951
Security deposits	50,770	50,770
TOTAL ASSETS	9,225,952	19,547,395
CURRENT LIABILITIES:
Accounts payable	90,305	232,033
Accrued expenses	256,376	408,705
Other current liabilities	22,310	137,778
Total Current Liabilities	368,991	778,516
Warrant and stock right liabilities	956,575	2,502,047
Deferred tax liability	3,240,000	3,920,000
Other liabilities	99,728	122,038
TOTAL LIABILITIES	4,665,294	7,322,601
STOCKHOLDERS' EQUITY:
Common stock, $0.01 par value, authorized 500,000,000 shares, issued and outstanding 20,496,385 and 18,752,813 at June 30, 2016 and June 30, 2015, respectively	204,964	187,528
Capital in excess of par	119,983,399	119,217,880
Accumulated deficit	(115,630,059)	(107,182,976)
Total Stockholders' Equity	4,560,658	12,224,794
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	9,225,952	19,547,395
Series A Convertible Preferred stock
STOCKHOLDERS' EQUITY:
Convertible preferred stock	4	4
Series C Convertible Preferred stock
STOCKHOLDERS' EQUITY:
Convertible preferred stock	$ 2,350	$ 2,358

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	500,000,000	500,000,000
Common stock, issued	20,496,385	18,752,813
Common stock, outstanding	20,496,385	18,752,813
Series A Convertible Preferred Stock
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, shares issued	10,297	10,297
Preferred stock, shares outstanding	380	380
Preferred stock, liquidation preference	$ 389,500	$ 399,000
Series C Convertible Preferred stock
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	1,228,500	1,228,500
Preferred stock, shares issued	235,004	235,837
Preferred stock, shares outstanding	235,004	235,837
Preferred stock, liquidation preference	$ 2,350	$ 2,358

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Licensing Revenue	$ 75,000	$ 75,000	$ 100,000
Operating expenses:
General and administrative	1,606,043	3,170,499	3,683,350
Research and development	2,182,989	4,568,435	3,338,687
Acquisition Costs	0	0	544,978
Impairment of goodwill	5,780,951	8,121,966	0
Impairment of acquired R&D	1,700,000	0	0
Impairment and write-off of patents	0	2,290,836	1,680,781
Total operating expenses	11,269,983	18,151,736	9,247,796
Loss from operations	(11,194,983)	(18,076,736)	(9,147,796)
Other non-operating income (expense)
Change in fair value of stock right	254,027	12,405	0
Change in fair value of warrant liability	1,993,560	3,313	0
Interest expense	(533)	(2,767)	(77,438)
Net loss before income tax benefit	(8,947,929)	(18,063,785)	(9,225,234)
Income tax benefit	680,000	0	0
Net Loss	(8,267,929)	(18,063,785)	(9,225,234)
Preferred dividends	(179,154)	(838,925)	(4,629,197)
Loss applicable to common shares	(8,447,083)	(18,902,710)	(13,854,431)
Other comprehensive loss	0	0	0
Comprehensive loss	$ (8,447,083)	$ (18,902,710)	$ (13,854,431)
Basic and diluted net loss per common share	$ (0.42)	$ (1.31)	$ (2.53)
Basic and diluted weighted-average number of common shares outstanding	20,322,714	14,417,029	5,476,717

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Preferred stock	Common Stock	Capital in Excess of Par Value	Accumulated Deficit
Beginning Balance at Jun. 30, 2013	$ 3,786,067	$ 8	$ 22,721	$ 78,189,173	$ (74,425,835)
Beginning Balance (in shares) at Jun. 30, 2013		800	2,272,062
Issuance of common stock and warrants for cash, net	6,839,006	$ 0	$ 24,900	6,814,106	0
Issuance of common stock and warrants for cash, net (in shares)		0	2,490,000
Exercise of warrants for cash	4,078,621	$ 0	$ 19,419	4,059,202	0
Exercise of warrants for cash (in shares)		0	1,941,956
Cash paid for fractional shares due to reverse split	(303)	$ 0	$ (1)	(302)	0
Cash paid for fractional shares due to reverse split (in shares)		0	(100)
Stock-based compensation	861,236	$ 0	$ 100	861,136	0
Stock-based compensation (in shares)		0	10,000
Issuance of common stock for services	435,988	$ 0	$ 1,238	434,750	0
Issuance of common stock for services (in shares)		0	123,750
Issuance of equity in the acquisition of Fabrus, Inc.	20,709,047	$ 0	$ 69,052	20,639,995	0
Issuance of equity in the acquisition of Fabrus, Inc.		0	6,905,201
Preferred stock converted into common stock	0	$ (2)	$ 733	(731)
Preferred stock converted into common stock (in shares)		(220)	73,333
Issuance of common stock as dividends	20,001	$ 0	$ 301	118,316	(98,616)
Issuance of common stock as dividends (in shares)		0	30,159
Deemed dividend in conjunction with warrant amendments	0	$ 0	$ 0	4,516,081	(4,516,081)
Accrued dividends	(14,500)	0	0	0	(14,500)
Net loss	(9,225,234)	0	0	0	(9,225,234)
Ending Balance at Jun. 30, 2014	27,489,929	$ 6	$ 138,463	115,631,726	(88,280,266)
Ending Balance (in shares) at Jun. 30, 2014		580	13,846,361
Stock-based compensation	480,681	$ 0	$ 0	480,681	0
Stock-based compensation (in shares)		0	0
Preferred stock converted into common stock	0	$ (2)	$ 1,000	(998)	0
Preferred stock converted into common stock (in shares)		(200)	100,000
Issuance of common stock as dividends	56,583
Stock issued for Cash	4,827,569	$ 2,358	$ 47,470	4,777,741	0
Stock issued for Cash (in shares)		235,837	4,746,952
Warrant Liability	(1,742,703)	$ 0	$ 0	(1,742,703)	0
Derivative Stock Right	(775,062)	0	0	(775,062)	0
Deemed dividend - preferred stock	0	0	0	790,507	(790,507)
Dividends paid	14,500	$ 0	$ 595	55,988	(42,083)
Dividends paid (in shares)		0	59,500
Dividends accrued and unpaid	(6,335)	$ 0	$ 0	0	(6,335)
Net loss	(18,063,785)	0	0	0	(18,063,785)
Ending Balance at Jun. 30, 2015	12,224,794	$ 2,362	$ 187,528	119,217,880	(107,182,976)
Ending Balance (in shares) at Jun. 30, 2015		236,217	18,752,813
Stock-based compensation	156,678	$ 0	$ 0	156,678	0
Stock-based compensation (in shares)		0	0
Preferred stock converted into common stock	0	$ (675)	$ 6,750	(6,075)	0
Preferred stock converted into common stock (in shares)		(67,500)	675,000
Issuance of common stock as dividends	40,286
Stock issued for Cash	1,152,397	$ 667	$ 9,600	1,142,130	0
Stock issued for Cash (in shares)		66,667	959,996
Warrant Liability	(559,261)	$ 0	$ 0	(559,261)	0
Derivative Stock Right	(142,854)	0	0	(142,854)	0
Deemed dividend - preferred stock	0	0	0	135,701	(135,701)
Dividends paid	6,335	$ 0	$ 1,086	39,200	(33,951)
Dividends paid (in shares)		0	108,576
Dividends accrued and unpaid	(9,502)	$ 0	$ 0	0	(9,502)
Net loss	(8,267,929)	0	0	0	(8,267,929)
Ending Balance at Jun. 30, 2016	$ 4,560,658	$ 2,354	$ 204,963	$ 119,983,399	$ (115,630,059)
Ending Balance (in shares) at Jun. 30, 2016		235,384	20,496,385

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (8,267,929)	$ (18,063,785)	$ (9,225,234)
Noncash income related to change in fair value of:
stock right	(254,027)	(12,405)	0
warrant liability	(1,993,560)	(3,313)	0
Stock-based compensation expense	156,678	480,681	1,297,224
Depreciation and amortization	93,394	177,074	349,656
Loss on disposal of assets	0	8,071	0
Impairment of goodwill	5,780,951	8,121,966	0
Write-off of intangibles	1,700,000	2,290,836	1,680,781
Deferred tax	(680,000)	0
Write-off of prepaid research supplies	0	669,750	0
Deferred rent	(62,778)	85,088	0
Loss on settlement of warrant liabilities	0	0	0
(Increase) decrease in operating assets:
Prepaid expenses and other current assets	223,280	48,208	868,837
Security deposit	0	(45,599)	0
Increase (decrease) in operating liabilities:
Accounts payable	(141,728)	(669,147)	(145,257)
Accrued expenses	(155,496)	(507,121)	305,860
Deferred revenue	(75,000)	75,000	0
Net cash used in operating activities	(3,676,215)	(7,344,696)	(4,868,133)
Cash flows from investing activities:
Cash received on acquisition of Fabrus, Inc.	0	0	1,274,662
Capitalized patent costs	0	(136,946)	(624,532)
Purchase of equipment, furniture and fixtures	0	(122,641)	(3,194)
Net cash provided by (used in) investing activities	0	(259,587)	646,936
Cash flows from financing activities:
Proceeds (repayments) from line of credit	0	0	(2,187,082)
Proceeds from issuance of common stock and warrants, net and exercise of warrants and options	1,152,397	4,827,569	10,917,325
Net cash provided by financing activities	1,152,397	4,827,569	8,730,243
Net (decrease) increase in cash and cash equivalents	(2,523,818)	(2,776,714)	4,509,046
Cash and cash equivalents at beginning of period	3,334,626	6,111,340	1,602,294
Cash and cash equivalents at end of period	810,808	3,334,626	6,111,340
Supplemental disclosure of non-cash transactions:
Conversion of preferred stock into common stock	6,750	998	731
Allocation of equity proceeds to warrants	559,261	1,742,703	0
Allocation of equity proceeds to stock rights	142,854	775,062	0
Allocation of preferred stock proceeds to beneficial conversion feature	135,701	790,507	0
Issuance of common stock for dividend payments on preferred stock	40,286	56,583	118,617
Dividends accrued on preferred stock	9,502	6,335	14,500
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 0	$ 137	85,893
Fair value of equity interests issued:			20,709,047
Noncash Assets acquired:
Accounts Receivable			43,133
Prepaid Expenses			19,542
Equipment			234,000
Acquired Research and Development			9,800,000
Goodwill			13,902,917
Total assets acquired			23,999,592
Liabilities assumed:
Accounts Payable			409,117
Accrued Payroll			74,525
Accrued Expenses			161,565
Deferred Tax Liability			3,920,000
Total Liabilities accquired			4,565,207
Cash acquired in acquisition of Fabrus, Inc.			$ 1,274,662

Principal Business Activity

Principal Business Activity	12 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Principal Business Activity	1. Principal Business Activity: The Company Sevion Therapeutics, Inc. (the “Company”), which includes the accounts of Senesco Inc., a New Jersey corporation (“SI”) and Fabrus, Inc., a Delaware corporation (“Fabrus”), is a development-stage biotech company developing a portfolio of innovative therapeutics, from both internal discovery and acquisition, for the treatment of cancer and immunological diseases. The antibody approach is a novel discovery paradigm with the proven capability to identify functional therapeutic monoclonal antibodies against challenging cell surface targets that previously have been highly resistant to therapeutic antibody discovery. The Company has several antibodies in the Company’s preclinical pipeline. The first to move forward is a potentially first/best in class candidate antibody that targets an ion channel important in autoimmunity and inflammation. Basis of Presentation The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). Any reference in these notes to applicable guidance is meant to refer to the authoritative United States generally accepted accounting principles as found in the Accounting Standards Codification (ASC) and Accounting Standards Update (ASU) of the Financial Accounting Standards Board (FASB). On May 16, 2014, the Company acquired all of the equity interest in Fabrus. Pursuant to the terms of the Merger Agreement, at the effective time of the merger, a subsidiary of the Company merged with and into Fabrus, with Fabrus surviving the merger as a wholly-owned subsidiary of the Company. See note 3 for additional information. Liquidity The financial statements of the Company have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Accordingly, the financial statements do not include any adjustments that might be necessary should the Company be unable to continue in existence. The Company has not generated substantial revenues and has not yet achieved profitable operations. There is no assurance that profitable operations, if ever achieved, could be sustained on a continuing basis. In addition, development activities, clinical and preclinical testing, and commercialization of the Company’s products will require significant additional financing. The Company’s accumulated deficit at June 30, 2016 totaled $ 115,630,059 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 the Phase 1b/2a clinical trial. The board of directors also decided to close the Company’s Bridgewater, New Jersey office in order to consolidate all of the Company’s operations in its San Diego, California location and terminated its research agreement with the University of Waterloo. In connection with these changes, the Company paid $ 47,000 In addition, given the Company’s limited capital resources, in December 2014, the Company decided to temporarily reduce its research and development spending on the Company’s antibody program. In the meantime, the Company continues to evaluate all strategic alternatives, including strategic partnering arrangements, acquiring additional assets, divesting certain existing assets, and/or equity or debt financings. We cannot assure you that the Company will be able to consummate a strategic transaction or a financing transaction. As of June 30, 2016, the Company had cash and cash equivalents in the amount of $ 810,808 If the Company is unable to raise additional funds, it will need to do one or more of the following: · 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. Risks and Uncertainties The Company operates in an industry that is subject to intense competition, government regulation and rapid technological change. The Company's operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory and other risks, including the potential risk of business failure. The Company’s limited capital resources and operations to date have been funded primarily with the proceeds from public and private equity and debt financings and milestone payments on license agreements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	2. Summary of Significant Accounting Policies: The accompanying consolidated financial statements include the accounts of Sevion Therapeutics, Inc. and the Company’s wholly owned subsidiaries, Senesco Inc. and Fabrus, Inc. All significant intercompany accounts and transactions have been eliminated in consolidation. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements if these results differ from historical experience, or other assumptions do not turn out to be substantially accurate, even if such assumptions are reasonable when made. In preparing these financial statements, management used significant estimates in the following areas, among others: stock-based compensation expense, warrant and stock rights liabilities, the determination of the fair value of equity transactions and stock-based awards, the accounting for research and development costs, the accounting for goodwill and impairment and accrued expenses. The Company accounts for business combinations using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations 544,978 The Company considers all highly liquid instruments with an original maturity of 90 ASC Topic 820, Fair Value Measurements, defines fair value, establishes a framework for measuring fair value and expands the related disclosure requirements. The guidance applies under other accounting pronouncements that require or permit fair value measurements. The statement indicates, among other things, that a fair value measurement assumes that the transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. ASC 820 defines fair value based upon an exit price model. The Company categorizes the Company’s financial instruments into a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial assets recorded at fair value on the Company’s consolidated balance sheets are categorized as follows: ⋅ Level 1: Observable inputs such as quoted prices in active markets; ⋅ Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and ⋅ Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Level 3 financial instruments consist of common stock warrants with an exercise reset feature and common stock with embedded anti-dilutive features (“Rights”). The fair value of these warrants and Rights are estimated using a Monte Carlo valuation model. The unobservable input used by the Company was the estimation of the likelihood of a reset occurring on the warrants and the anti-dilutive Rights. These estimates of the likelihood of completing an equity raise that would meet the criteria to trigger the reset provisions and anti-dilutive Rights are based on numerous factors, including the remaining term of the financial instruments and the Company’s overall financial condition. (See note 8). The carrying value of prepaid expenses, accounts payable and accrued expenses reported in the consolidated balance sheets equal or approximate fair value due to their short maturities. Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash. The Company maintains cash balances at financial institutions, which at times, exceed federally insured limits. At June 30, 2016 and 2015, the Company’s cash amount on deposit was in excess of FDIC insurance limits. The Company has not recognized any losses from credit risks on such accounts since inception. The Company believes it is not exposed to significant credit risk on cash. Prepaid research services and supplies are carried at cost and are included in prepaid expenses and other current assets on the accompanying consolidated balance sheet. When such services are performed and supplies are used, the carrying value of the supplies are expensed in the period that they are performed or used for the development of proprietary applications and processes. Equipment, furniture and fixtures are recorded at cost, except for the equipment acquired in the acquisition of Fabrus, which is recorded at fair value (see note 3). Depreciation is calculated on a straight-line basis over three to four years for office equipment, five years for lab equipment and five to seven years for furniture and fixtures. Expenditures for major renewals and improvements are capitalized, and expenditures for maintenance and repairs are charged to operations as incurred. (See note 5). Goodwill represents the excess of purchase price over the fair value of net assets acquired by the Company. Goodwill is not amortized, but assessed for impairment on an annual basis or more frequently if impairment indicators exist. The impairment model prescribes a two-step method for determining impairment. The first step compares a reporting unit’s fair value to its carrying amount to identify potential goodwill impairment. If the carrying amount of a reporting unit exceeds the reporting unit’s fair value, the second step of the impairment test must be completed to measure the amount of the reporting unit’s goodwill impairment loss, if any. Step two requires an assignment of the reporting unit’s fair value to the reporting unit’s assets and liabilities to determine the implied fair value of the reporting unit’s goodwill. The implied fair value of the reporting unit’s goodwill is then compared with the carrying amount of the reporting unit’s goodwill to determine the goodwill impairment loss to be recognized, if any. For the fiscal year ended June 30, 2016, the Company determined that there was impairment to goodwill. (See Note 6) Intangible assets include in-process research and development (IPR&D) of pharmaceutical product candidates. IPR&D are considered indefinite-lived intangible assets and are assessed for impairment annually or more frequently if impairment indicators exist. If the associated research and development effort is abandoned, the related assets will be written-off and the Company will record a non-cash impairment loss on the Company’s consolidated statement of operations. For those compounds that reach commercialization, the IPR&D assets will be amortized over their estimated useful lives. For the fiscal year ended June 30, 2016, the Company determined that there was impairment to IPR&D. (See Note 6) 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 if the Company's review determines that the future undiscounted cash flows related to the groups, including these assets, will not be sufficient to recover their carrying value, the Company will reduce the carrying values of these assets down to the Company’s estimate of fair value. Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares 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. June 30, 2016 2015 Common Stock to be issued upon conversion of convertible preferred stock - Series A 506,666 506,666 Common Stock to be issued upon conversion of convertible preferred stock - Series C 2,350,040 2,358,370 Outstanding warrants 8,698,580 7,332,776 Outstanding options 1,917,238 1,626,919 Total potentially dilutive shares of Common Stock 13,472,524 11,824,731 Income taxes are recorded in accordance with ASC Topic 740, Income Taxes, which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are provided, if based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. As of June 30, 2016, the Company’s tax years prior to June 30, 2013 are no longer subject to examination by the tax authorities. The Company is not currently under examination by any U.S. federal or state jurisdictions. As of June 30, 2016 and 2015, the Company does not have any significant uncertain tax positions. The Company has received certain nonrefundable upfront fees in exchange for the transfer of the Company’s technology to licensees. Upon delivery of the technology, the Company had no further obligations to the licensee with respect to the basic technology transferred and, accordingly, recognized revenue at that time. The Company has received certain nonrefundable upfront license fees in connection with agreements that include time-based payments and are deferred and amortized ratably over the estimated research period of the license. The Company has and may continue to receive additional payments from the Company’s licensees in the event such licensees achieve certain development or commercialization milestones in their particular field of use. Milestone payments, which are contingent upon the achievement of certain research goals, are recognized as revenue when the milestones, as defined in the particular agreement, are achieved. The Company accounts for stock-based compensation under the provisions of FASB ASC Topic 718, Compensation—Stock Compensation, which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair values on the grant date. For stock options issued to employees, the Company estimates the grant-date fair value of each option using the Black-Scholes option-pricing model. The use of the Black-Scholes option pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the common stock consistent with the expected life of the option, risk-free interest rates, the value of the common stock and expected dividend yields of the common stock. For awards subject to service-based vesting conditions, the Company recognizes stock-based compensation expense, net of estimated forfeitures, equal to the grant date fair value of stock options on a straight-line basis over the requisite service period, which is generally the vesting term. For awards subject to both performance and service-based vesting conditions, the Company recognizes stock-based compensation expense using the straight-line recognition method when it is probable that the performance condition will be achieved. Forfeitures are required to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Share-based payments issued to non-employees are recorded at their fair values, and are periodically revalued as the equity instruments vest and are recognized as expense over the related service period in accordance with the provisions of ASC 718 and ASC Topic 505, Equity. Fiscal Year Ended June 30, 2016 2015 2014 General and administrative $ 130,186 $ 401,411 $ 1,185,118 Research and development 26,492 79,270 112,106 Total $ 156,678 $ 480,681 $ 1,297,224 Fiscal Year Ended June 30, 2016 2015 2014 Risk-free interest rate (1) .00% - 2.15% 0.02%-2.32% 1.6 - 2.7% Expected volatility 69%-146% 95%-153% 85%-99% Dividend yield None None None Expected life (in years) (2) .08 - 8.4 0.63 - 10.0 5.0 - 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) Expected life for employee 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. Research and development costs are charged to expense as incurred. These costs include, but are not limited to, employee-related expenses, including salaries, benefits and travel and stock-based compensation of the Company’s research and development personnel; expenses incurred under agreements with contract research organizations and investigative sites that conduct preclinical studies; other supplies; allocated facilities, depreciation and other expenses, which include rent and utilities; insurance; and costs associated with preclinical activities and regulatory operations. Costs for certain development activities, such as clinical trials, are recognized based on an evaluation of the progress to completion of specific tasks using data such as subject enrollment, clinical site activations or information provided to the Company by vendors with respect to their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the pattern of costs incurred, and are reflected in the financial statements as prepaid or accrued research and development expense, as the case may be. Comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. 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 May 2014, the FASB issued ASU No. 2014- 09, “Revenue from Contracts with Customers” (“ASU 2014-09”). ASU 2014-09 requires that a company recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which the company expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). ). In July 2015, the FASB approved a proposal to defer the effective date of the guidance until annual and interim reporting periods beginning after December 15, 2017. The Company does not anticipate that the adoption of this standard will have a material impact on the Company’s financial statements. In June 2014, the FASB issued ASU No. 2014-12, “Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period,” (“ASU 2014-12”). ASU 2014-12 requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The Company does not anticipate that the adoption of this standard will have a material impact on the Company’s financial statements. In August 2014, the FASB issued ASU No. 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,” (“ASU 2014-15”). ASU 2014-15 amended existing guidance related to the disclosures about an entity’s ability to continue as a going concern. These amendments are intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. These amendments provide guidance to an organization’s management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations in the financial statement footnotes. The amendments are effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. The Company does not anticipate that the adoption of this standard will have a material impact on the Company’s financial statements. In November 2014, the FASB issued ASU No. 2014-16, “Derivatives and Hedging (Topic 815), Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity,” (“ASU 2014-16”). All entities are required to use what is called the “whole instrument approach” to determine the nature of a host contract in a hybrid financial instrument issued in the form of a share. The guidance requires issuers and investors to consider all of a hybrid instrument’s stated and implied substantive terms and features, including any embedded derivative features being evaluated for bifurcation. The guidance eliminates the “chameleon approach,” under which all embedded features except the feature being analyzed are considered. The guidance is effective for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. The Company does not anticipate that the adoption of this standard will have a material impact on the Company’s financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)”, which supersedes FASB ASC 840. All entities will be required to record operating leases on the balance sheet as assets and liabilities instead of recording only capital (finance) leases on the balance sheet. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2017. The Company does not anticipate that the adoption of this standard will have a material impact on the Company’s financial statements. In March 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting”, which is intended to simplify several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early application is permitted. The Company is currently evaluating the impact of adoption on the Company’s financial statements. The Company has assessed other recently issued accounting pronouncements and has determined that they do not apply.

Acquisition of Fabrus, Inc.

Acquisition of Fabrus, Inc.	12 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Acquisition of Fabrus, Inc	3. Acquisition of Fabrus, Inc. On May 16, 2014, the Company completed a merger pursuant to a Plan of Merger and Reorganization (the “Merger Agreement”), whereby the Company acquired all of the outstanding ownership interests of Fabrus, Inc., a privately-owned biotechnology company which has developed an advanced platform for therapeutic antibody discovery and development. Pursuant to the terms of the Merger Agreement, the Company issued 6,905,201 18,298,782 3,578,481 2.00 4.00 2,349,853 2.65 285,224 20,933,859 In accordance with the acquisition method of accounting, the issuance of replacement stock options to the employees of Fabrus at the date of the merger must be accounted for as a modification of the original award by Fabrus. As a result, $ 60,412 224,812 Purchase price per valuation 20,933,859 Less: Options to be recognized in the future (224,812) Purchase price for goodwill calculation 20,709,047 Assets acquired: Cash 1,274,662 Accounts receivable 43,133 Prepaid expenses 19,542 Equipment 234,000 Acquired research and development 9,800,000 Goodwill 13,902,917 25,274,254 Liabilities assumed: Accounts payable (409,117) Accrued payroll (74,525) Accrued expenses (161,565) Deferred tax liability (3,920,000) (4,565,207) Net assets of Fabrus, Inc. acquired 20,709,047 Goodwill, which is comprised of synergies from combining operations, and acquired research and development is accounted for as an indefinite lived intangible asset and is subject to annual impairment testing. Goodwill is not expected to be deducted for income tax purposes. Fiscal Year Ended June 30, 2014 (unaudited) Total revenue $ 182,229 Net loss $ (11,017,792) Loss applicable to common shares $ (5,646,989) Basis and diluted net loss per common share $ (1.36)

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements: Carrying Fair Value Measurement at June 30, 2016 Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 810,808 $ 810,808 $ - $ - Warrant and Stock Right Liabilities $ 956,575 $ - $ - $ 956,575 Carrying Fair Value Measurement at June 30, 2015 Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 3,334,626 $ 3,334,626 $ - $ - Warrant and Stock Right Liabilities $ 2,502,047 $ - $ - $ 2,502,047 Fiscal Year ended June 30, 2016 2015 Beginning Balance $ 2,502,047 $ - Issuance of common stock warrants 559,261 1,742,703 Recognition of stock right 142,854 775,062 Change in fair value of warrant liabilities, net (1,993,560) (3,313) Change in fair value of stock right, net (254,027) (12,405) Ending Balance $ 956,575 $ 2,502,047 See Note 9 for additional information.

Equipment, Furniture and Fixtur

Equipment, Furniture and Fixtures	12 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Equipment, Furniture and Fixtures	5. Equipment, Furniture and Fixtures: June 30, 2016 2015 Laboratory Equipment $ 310,523 $ 310,523 Office Equipment 21,680 21,681 Leasehold Improvements 10,236 10,236 Furniture and fixtures 6,920 6,920 $ 349,359 $ 349,360 Less—Accumulated depreciation (256,805) (163,412) $ 92,554 $ 185,948 Depreciation expense aggregated $ 93,394 152,097 18,275

Intangible assets

Intangible assets	12 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	6. Intangible assets: In December 2014, as a result of the decrease in the market value of the Company, the Company determined that there was a triggering event that required the Company to review if there had been an impairment to the Acquired Research and Development in the amount of $ 9,800,000 283,393 13,902,917 8,121,966 As of June 30, 2015 the Company performed a review to determine if there was impairment to the Acquired Research and Development and Goodwill as of that date. The Company first evaluated the Acquired Research and Development for impairment by reviewing the assumptions utilized in establishing the value allocated to the Acquired Research and Development. Based on the evaluation, the Company determined that no impairment exists. The Company then evaluated its Goodwill using its market capitalization in determining the amount of the impairment. The Company concluded that there was no additional impairment beyond what had been recorded at December 31, 2014. As a result of the further decrease in the market value of the Company, the Company determined that there was a triggering event that required the Company to review if there had been an impairment to the Acquired Research and Development and Goodwill as of December 31, 2015. The Company first evaluated the Acquired Research and Development for impairment by reviewing the assumptions utilized in establishing the value allocated to the Acquired Research and Development. Based on the evaluation, the Company determined that no impairment exists. The Company then evaluated its Goodwill. The Company’s evaluation used its market capitalization plus a control premium (which is considered a level 2 input in the fair value hierarchy) in determining the amount of the impairment. The Company concluded that there was an impairment based on the significant change in the Company’s market value during the period. As a result of this evaluation, the Company determined that the Goodwill was impaired and recorded an impairment charge in the amount of $ 2,800,000 For the quarter ended March 31, 2016, as as a result of the significant further decrease in the market value of the Company, the Company determined that there was a triggering event that required the Company to review if there had been an impairment to the Acquired Research and Development and Goodwill. For the Acquired Research and Development the Company updated the discounted cash flow analysis and reviewed the input assumptions which were the basis for the valuation performed as of May 14, 2014 (Date of Acquisition). Updates were made to the inputs based upon industry knowledge and management experience which affected future revenue streams, timing and probabilities. Based on the evaluation, the Company determined that an impairment existed. In addition, due to the significant drop in market value which the company experienced in the period, the company evaluated the market for the Acquired Research & Development. As a result of this evaluation, the Company determined that the intangible was impaired and market value would approximate $ 8.8 1,000,000 2,981,000 As of June 30, 2016 Company performed a review to determine if there was impairment to the Acquired Research and Development as of that date. The Company first evaluated the Acquired Research and Development for impairment by reviewing the assumptions utilized in establishing the value allocated to the Acquired Research and Development which had been updated from the previous quarter. Based on the evaluation, the Company determined that an impairment existed. The Company measured the enterprise value for purposes of the Step 2 measurement of Intangibles. The Company concluded that there was an impairment based on the significant change in the Company’s market value during the period. As a result of this evaluation, the Company determined that there was an additional impairment to the Acquired Research and Development as of June 30, 2016 in the amount of $ 700,000 In October 2014, the Company decided to continue to develop its 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 was unable to determine if or when the development would be resumed, the Company was unable to determine what the future undiscounted cash flows from these patents could be. Therefore, the Company determined that the 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 During the fiscal year ended June 30, 2014 in order to reduce the Company’s cost of patent prosecution and maintenance, the Company reviewed the Company’s patent portfolio and identified several patents and patent applications that the Company believed it no longer needed to maintain without having a material impact on its patent portfolio. Accordingly, during the fiscal year ended June 30, 2014 the Company wrote off patent costs in the net amount of $ 330,190 As of June 30, 2014, the Company determined that carrying value of its agricultural patents and patent applications was impaired. Accordingly, the Company recorded an impairment of the full carrying value of its agricultural patents in the amount of $ 1,350,591 Amortization expense amounted to $ 24,977 331,381 During the fiscal years ended June 30, 2016 and 2015, the Company incurred $ 421,287 219,270

Accrued Expenses

Accrued Expenses	12 Months Ended
	Jun. 30, 2016
Payables and Accruals [Abstract]
Accrued Expenses	7. Accrued Expenses: Accrued expenses were comprised of the following: June 30, 2016 2015 Accrued research $ 66,409 $ 48,909 Accrued payroll 74,240 135,497 Accrued dividends payable 9,502 6,335 Accrued other 106,225 217,964 $ 256,376 $ 408,705

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Stockholders' Equity	8. Stockholders’ Equity: Series A Preferred Stock Each share of Series A Convertible Preferred Stock has a stated value of $ 1,000 10 If the dividends are paid in shares of Common Stock, such shares will be priced at the lower of 90% of the average volume weighted-average price for the 20 trading days immediately preceding the payment date or $ 22.40 Upon any liquidation, dissolution or winding-up of the Corporation, whether voluntary or involuntary, the Holders shall be entitled to receive an amount equal to the Stated Value plus any accrued and unpaid dividends and any other fees or liquidated damages then due and owing thereon for each share of Series A Preferred Stock before any distribution or payment shall be made to the holders of any Junior Securities. If the assets of the Corporation shall be insufficient to pay in full such amounts, then the entire assets to be distributed to the Holders shall be ratably distributed among the Holders in accordance with the respective amounts that would be payable on such shares if all amounts payable thereon were paid in full. During the fiscal years ended June 30, 2016, 2015 and 2014, a total of 108,576 59,500 17,524 40,286 56,583 67,541 The shares of Series A Convertible Preferred Stock were convertible into shares of Common Stock at an initial conversion price of $ 32.00 The conversion price is subject to adjustment if the Company sells or grants any Common Stock or Common Stock equivalents, subject to certain exclusions, at an effective price per share that is lower than the conversion price of the Series A Convertible Preferred Stock. As a result of multiple issuances of shares of common stock, as of June 30, 2016, the initial conversion prices have been adjusted from $32.00 per share to $0.75 per share. Series C Preferred Stock Each share of 0 7.50 0.75 4.99 The Series C Preferred Stock is entitled to receive dividends (on an as-converted to Common Stock basis) to and in the same form as dividends actually paid on shares of Common Stock and are entitled to the number of votes equal to the number of shares of Common Stock issuable upon conversion of the Series C Preferred Stock, subject to beneficial ownership limitations on conversion. Holders of Series C Preferred Stock shall vote together with the holders of Common Stock and not vote as a separate class. In connection with a liquidation event, any payment due on the Series C Preferred Stock shall be made payable prior to, and in preference of, any Common Stock. In addition, if the Company grants options, purchase rights or other securities to all existing holders of Common Stock, other than certain exempt issuances, the holders of the Series C Preferred Stock have the right to purchase such number of shares of Common Stock that would have been provided to such holder if such holder held the number of shares of Common Stock underlying the Series C Preferred Stock. Upon the liquidation, dissolution or winding up of the business of the Company, whether voluntary or involuntary, each holder of Series C Preferred Shares shall be entitled to receive a preferential amount in cash equal to the Par Value. All preferential amounts to be paid to the holders of Series C Preferred Shares shall be paid before the payment or setting apart for payment of any amount for, or the distribution of any assets of the Company to the holders of (i) any other class or series of capital stock whose terms expressly provide that the holders of Series C Preferred Shares should receive preferential payment with respect to such distribution (to the extent of such preference) and (ii) the Common Stock but not before any payment to holders of outstanding shares of the Company’s Series A Preferred Stock. If upon any such distribution the assets of the Company shall be insufficient to pay the holders of the Series C Preferred Shares the full amounts to which they shall be entitled, such holders shall share ratably in any distribution of assets in accordance with the sums which would be payable on such distribution if all sums payable thereon were paid in full. Public Placements of Series C Preferred Stock, Common Stock and Warrants In May, June and July, 2015, the Company sold units of its securities (the “Units”) with each Unit consisting of one share of the Company’s common stock or, at the election of the Investor, shares of the Company’s newly designated 0% Series C Convertible Preferred Stock (the “Series C Preferred Stock”) and a warrant to purchase one half of one share of Common Stock at an exercise price of $ 1.50 0.75 4,746,952 2,358,370 235,837 2,358,370 3,552,640 5,328,966 501,397 1,626,663 666,667 66,667 666,667 813,332 1,219,997 67,600 On the final closing date July 27, 2015 the Placement Agent was issued 555,552 0.75 The Warrants are entitled to be exercised at any time on or after the issuance date and on or prior to the close of business on the thirty month anniversary of their issuance. The initial exercise price per share of the Common Stock under the Warrants and the Placement Agent Warrants shall be $ 1.50 0.75 The Company first allocated the proceeds from the offering to the Warrants based upon the fair value of the Warrant which amounted to $ 1,742,703 559,261 3,313 1,993,560 The Warrant liabilities represent the fair value of Common Stock purchase Warrants which have exercise price reset features estimated using a Monte Carlo valuation model. The Company computes a valuation using the Monte Carlo model for such Warrants to account for the various possibilities that could occur due to changes in the inputs to the model as a result of contractually-obligated changes. These estimates of the likelihood of completing an equity raise that would meet the criteria to trigger the reset provisions are based on numerous factors, including the remaining term of the financial instruments and the Company’s overall financial condition. Changes in the unobservable input values would likely cause material changes in the fair value of the Company’s Level 3 financial instruments. The significant unobservable input used in the fair value measurement was the estimation of the likelihood of the occurrence of a change to the strike price of the Warrants. A significant increase (decrease) in this likelihood would have resulted in a higher (lower) fair value measurement. May/June 2015 Issuance June 30, 2015 July 2015 Issuance June 30, 2016 Estimated life in years 2.5 2.4 2.5 1.4 - 1.5 Risk-free interest rate (1) 0.73% 0.73% 0.91% 0.64% Volatility 115.20% 115.20% 108.60% 110.90% Dividend paid None None None None (1) Represents the interest rate on a U.S. Treasury security with a maturity date corresponding to that of the warrant term. In connection with the purchase of Units, for a period beginning on the final closing date July 27, 2015 and ending on the date that is the earlier of 18 months from the final closing date and the date the Company’s Common Stock is listed for trading on a national securities exchange, subject to certain restrictions as outlined in the agreement, if at any time the Company shall issue any Common Stock or securities convertible into or exercisable for shares of Common Stock (or modify any of the foregoing which may be outstanding) at a price per share or conversion or exercise price per share which shall be less than $ 0.75 0.01 Derivatives and Hedging-Contracts in Entity’s Own Equity, 775,062 142,854 12,405 254,027 The fair value of the right is estimated using a Monte Carlo model. The unobservable input used by the Company was the estimation of the likelihood of a reset occurring on the Warrants and the anti-dilutive Rights. These estimates of the likelihood of completing an equity raise that would meet the criteria to trigger the reset provisions and anti-dilutive Rights are based on numerous factors, including the remaining term of the financial instruments and the Company’s overall financial condition In connection with allocation of the gross proceeds to the issuance of the Series C Preferred Stock, the Company determined that the Series C Preferred Stock’s conversion feature was considered to be beneficial. A beneficial conversion feature requires the Company to record a deemed dividend for a non-detachable conversion feature that is in the money at the issuance date. As a result, the Company recorded a deemed dividend amounting to $ 790,507 135,701 In accordance with the Registration Rights Agreement, entered into by the Company and the subscribers of Units, the Company was required to file a registration statement covering the registrable security for an offering to be made on a continuous basis pursuant to Rule 415 within 45 days from the final closing, and to be declared effected no later than 120 days from the final closing date. The agreement included a penalty of 1% per month of the investor’s investment, payable in cash, for every 30 day period up to a maximum of 6% for failure to comply with the terms of the agreement. In addition, the Company would take all commercially reasonable action necessary to continue the listing or quotation and trading of its Common Stock on a principal market for as long as any subscriber holds securities, and would comply in all material respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the principal market at least until five years after the closing date. In the event the listing is not continuously maintained for five years after the closing date, on each monthly anniversary of each such listing default date until the applicable listing default is cured, the Company would pay to each subscriber an amount in cash, as partial liquidated damages equal to 1% of the subscriber’s amounts invested held as of each such date. The Company is negotiating with the subscribers of the offering regarding a waiver of the penalties for filing of a registration statement and continued listing. December 16, 2013 On December 16, 2013, the Company completed a Common Stock and Warrant offering for $ 5,400,000 180,000 3 4 4 The net offering proceeds to the Company from the sale of the units, after deducting the offering expenses of $ 121,764 5,278,236 On February 21, 2014, the Company amended and restated 1,746,666 2.00 2,820,866 Following the amendment of the series B Warrants, the Warrant Holders of Amended Warrants to purchase 1,746,666 shares of Common Stock exercised their Amended Warrants, resulting in gross proceeds to the Company of $ 3,493,332 On June 13, 2014, the Company amended and restated 1,630,000 847,600 October 2, 2013 On October 2, 2013, the Company completed a Common Stock offering for $ 1,725,000 690,000 2.50 5.00 2 The net offering proceeds to the Company from the sale of the Common Stock, after deducting the offering expenses of $ 164,230 1,560,770 In connection with the offering of common stock on October 2, 2013, the Company issued an additional 3,867 15,468 In connection with the amendment to the Series B warrants on February 21, 2014, the Company issued an additional 8,770 35,606 Warrants Weighted Aggregate Average Exercise Price Number Exercise Price Range Outstanding, June 30, 2013 283,156 36.06 $ 1.00 - $ 345.00 Granted 8,978,481 141.84 2.00 - 4.00 Exercised (2,023,658) 3.84 52.00 - 315.00 Cancelled - - - Expired (205) 308.78 60.00 - 315.00 Outstanding, June 30, 2014 7,237,774 $ 4.77 $ 1.00 - $ 345.00 Granted 3,552,639 1.50 1.50 Exercised - - - Cancelled - - - Expired (3,457,637) 4.84 $ 3.00 - $ 345.00 Outstanding, June 30, 2015 7,332,776 $ 3.15 $ 1.00 - $ 140.00 Granted 1,368,854 $ 1.20 $ 0.75- $ 1.50 Exercised - - - Cancelled - - - Expired (3,050) 33.77 $ 32.00 - $ 140.00 Outstanding, June 30, 2016 8,698,580 2.83 $ 0.75- $ 108.00 Warrants as liabilities at June 30, 2014 - - Warrants as liabilities at June 30, 2015 (1) 3,552,639 $ 1.50 Warrants as liabilities at June 30, 2016 (1) 4,921,493 $ 1.42 (1) Exercise price subject to reset as discussed in Public Placements of Serice C Preferred Stock As of June 30, 2016, all of the above warrants are exercisable expiring at various dates through 2020. At June 30, 2016, the weighted-average exercise price on the above warrants was $ 2.83 On February 21, 2014, pursuant to warrant amendment agreements, an aggregate of 1,746,666 4.00 2.00 1,746,666 3,493,332 2,820,866 On June 13, 2014, pursuant to warrant amendment agreements, an aggregate of 3,260,030 1,695,216

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation In December 2008, the Company adopted the 2008 Incentive Compensation Plan (the "2008 Plan"), which provides for the grant of stock options, stock grants and stock purchase rights to certain designated employees and certain other persons performing services for the Company, as designated by the board of directors. Pursuant to the 2008 Plan, as amended and automatically increased as discussed below, an aggregate of 5,938,700 5 1,500,000 25 Between February 19, 2009 and February 2, 2015, the Company filed a registration statement and amendments with the SEC to register 4,917,670 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 November 16, 2012, the Company issued 37,050 489,060 55 25 On September 13, 2013, the Company issued 46,780 201,154 81 On November 18, 2014, the Company issued 392,860 237,291 85,504 51,645 70,350 47,345 81 81 Weighted Aggregate Average Exercise Price Number Exercise Price Range Outstanding, June 30, 2013 231,748 50.00 4.00 – 345.00 Granted 778,480 2.94 2.65 - 5.40 Exercised - - - Cancelled (27,788) 16.50 16.50 Expired (3,136) 229.65 52.00 - 315.00 Outstanding, June 30, 2014 979,304 $ 9.49 $ 2.65 - $ 345.00 Granted 1,203,676 0.73 $ 0.54 - $ 0.83 Exercised - - Cancelled (552,471) 3.41 $0.83 - $ 140.00 Expired (3,590) 289.09 $ 43.00 - $ 345.00 Outstanding, June 30, 2015 1,626,919 $ 4.45 $ 0.54 - $ 140.00 Granted 485,682 $ 0.31 $ 0.22 - $ 0.50 Exercised - Cancelled (151,588) 3.99 $ 0.83 - $ 140.00 Expired (43,775) 11.02 $ 0.83 - $ 140.00 Outstanding, June 30, 2016 1,917,238 $ 3.29 $ 0.22 - $ 140.00 Options exercisable at June 30, 2014 428,286 $ 17.48 Options exercisable at June 30, 2015 1,228,739 $ 5.53 Options exercisable at June 30, 2016 1,841,728 $ 3.38 Weighted-average Number of Grant-Date Options Fair Value Non-vested stock options at June 30, 2015 398,180 $ 0.81 Granted 485,682 0.31 Vested (656,639) 0.40 Forfeited / Cancelled (151,713) 1.01 Non-vested stock options at June 30, 2016 75,510 $ 0.76 As of June 30, 2016, the aggregate intrinsic value of stock options outstanding was $ 0 6.59 0 6.52 4,020,462 As of June 30, 2016 total estimated compensation expense not yet recognized related to stock option grants amounted to $ 51,183 36

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes: Since the Company has recurring losses and a valuation allowance against deferred tax assets, there is no tax expense (benefit) for all periods presented. The Company files a consolidated federal income tax return. The subsidiary files separate state and local income tax returns. As of June 30, 2016, the Company had federal net operating loss (“NOL”) carry forwards of $ 72,795,000 23,057,000 expire in 2019 expire at various dates starting in 2031 50 The Company's reserves related to taxes are based on a determination of whether and how much of a tax benefit taken by the Company in its tax filings or positions is more likely than not to be realized. The Company recognized no material adjustment for unrecognized income tax benefits. Through June 30, 2016, the Company had no unrecognized tax benefits or related interest and penalties accrued. ASC 740 requires a valuation allowance to reduce the deferred tax assets reported if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. After consideration of all the evidence, both positive and negative, the Company has recorded a full valuation allowance against its deferred tax assets at June 30, 2016 and 2015, respectively, because the Company's management has determined that is it more likely than not that these assets will not be fully realized. The valuation allowance decreased by $2,590,000 and increased by $ 4,261,000 June 30, 2016 2015 2014 Federal income tax provision at statutory rate (34.0) % (34.0) % (34.0) % State income taxes, net of federal benefit (3.5) % (3.2) % (5.4) % Change in State Rate 28.7 % - % - % Deferred Tax Adjustment 17.1 % - % - % Goodwill Impairment 22.0 % 15.3 % - % Permanent items (8.4) % 0.4 % 3.1 % Research and development credits (0.7) % (3.0) % - % Change in valuation allowance (28.8) % 24.5 % 36.3 % Actual income tax provision (benefit) effective tax rate (7.6) % - % - % June 30, 2016 2015 2014 Deferred Tax Assets: Net operating loss carryforwards $ 26,096,000 $ 27,224,000 $ 23,719,000 Stock-based compensation 1,386,000 2,843,000 2,721,000 Other 1,281,000 1,285,000 651,000 Deferred tax assets 28,763,000 31,352,000 27,091,000 Deferred Tax Liabilities: Indefinite-lived intangibles (3,240,000) (3,920,000) (3,920,000) Deferred tax liabilities (3,240,000) (3,920,000) (3,920,000) Less: valuation allowance (28,763,000) (31,352,000) (27,091,000) Net deferred tax asset / (liability) $ (3,240,000) $ (3,920,000) $ (3,920,000) The Company will recognize interest and penalties related to uncertain tax positions in income tax expense. As of June 30, 2016 and 2015, the Company had no accrued interest or penalties related to uncertain tax positions and no amounts have been recognized in the Company's Statements of Operations and Comprehensive Loss. The Company files income tax returns in the United States, and various state jurisdictions. The federal and state income tax returns are generally subject to tax examinations for the tax years ended June 30, 2013 through June 30, 2016. To the extent the Company has tax attribute carryforwards, the tax years in which the attribute was generated may still be adjusted upon examination by the Internal Revenue Service or state tax authorities to the extent utilized in a future period.

Commitments

Commitments	12 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments	Commitments: On November 19, 2014, the Company executed a sublease agreement dated October 8, 2014 effective as of October 20, 2014, relating to the rental of approximately 10,571 22,728 94,342

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Event	12. Subsequent Events: The Company has evaluated for any subsequent events through the date of the financial statements and has determined that no significant subsequent events have occurred.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation The accompanying consolidated financial statements include the accounts of Sevion Therapeutics, Inc. and the Company’s wholly owned subsidiaries, Senesco Inc. and Fabrus, Inc. All significant intercompany accounts and transactions have been eliminated in consolidation.
Management Estimates and Judgments	Management Estimates and Judgments Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements if these results differ from historical experience, or other assumptions do not turn out to be substantially accurate, even if such assumptions are reasonable when made. In preparing these financial statements, management used significant estimates in the following areas, among others: stock-based compensation expense, warrant and stock rights liabilities, the determination of the fair value of equity transactions and stock-based awards, the accounting for research and development costs, the accounting for goodwill and impairment and accrued expenses.
Business Combinations	Business Combinations The Company accounts for business combinations using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations 544,978
Cash and Cash Equivalents and Short-Term Investments	Cash and Cash Equivalents and Short-Term Investments The Company considers all highly liquid instruments with an original maturity of 90
Fair Value Measurements	Fair Value Measurements ASC Topic 820, Fair Value Measurements, defines fair value, establishes a framework for measuring fair value and expands the related disclosure requirements. The guidance applies under other accounting pronouncements that require or permit fair value measurements. The statement indicates, among other things, that a fair value measurement assumes that the transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. ASC 820 defines fair value based upon an exit price model. The Company categorizes the Company’s financial instruments into a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial assets recorded at fair value on the Company’s consolidated balance sheets are categorized as follows: ⋅ Level 1: Observable inputs such as quoted prices in active markets; ⋅ Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and ⋅ Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Level 3 financial instruments consist of common stock warrants with an exercise reset feature and common stock with embedded anti-dilutive features (“Rights”). The fair value of these warrants and Rights are estimated using a Monte Carlo valuation model. The unobservable input used by the Company was the estimation of the likelihood of a reset occurring on the warrants and the anti-dilutive Rights. These estimates of the likelihood of completing an equity raise that would meet the criteria to trigger the reset provisions and anti-dilutive Rights are based on numerous factors, including the remaining term of the financial instruments and the Company’s overall financial condition. (See note 8). The carrying value of prepaid expenses, accounts payable and accrued expenses reported in the consolidated balance sheets equal or approximate fair value due to their short maturities.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash. The Company maintains cash balances at financial institutions, which at times, exceed federally insured limits. At June 30, 2016 and 2015, the Company’s cash amount on deposit was in excess of FDIC insurance limits. The Company has not recognized any losses from credit risks on such accounts since inception. The Company believes it is not exposed to significant credit risk on cash.
Prepaid Research Services and Supplies	Prepaid Research Services and Supplies Prepaid research services and supplies are carried at cost and are included in prepaid expenses and other current assets on the accompanying consolidated balance sheet. When such services are performed and supplies are used, the carrying value of the supplies are expensed in the period that they are performed or used for the development of proprietary applications and processes.
Equipment, Furniture and Fixtures, Net	Equipment, Furniture and Fixtures, Net Equipment, furniture and fixtures are recorded at cost, except for the equipment acquired in the acquisition of Fabrus, which is recorded at fair value (see note 3). Depreciation is calculated on a straight-line basis over three to four years for office equipment, five years for lab equipment and five to seven years for furniture and fixtures. Expenditures for major renewals and improvements are capitalized, and expenditures for maintenance and repairs are charged to operations as incurred. (See note 5).
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill represents the excess of purchase price over the fair value of net assets acquired by the Company. Goodwill is not amortized, but assessed for impairment on an annual basis or more frequently if impairment indicators exist. The impairment model prescribes a two-step method for determining impairment. The first step compares a reporting unit’s fair value to its carrying amount to identify potential goodwill impairment. If the carrying amount of a reporting unit exceeds the reporting unit’s fair value, the second step of the impairment test must be completed to measure the amount of the reporting unit’s goodwill impairment loss, if any. Step two requires an assignment of the reporting unit’s fair value to the reporting unit’s assets and liabilities to determine the implied fair value of the reporting unit’s goodwill. The implied fair value of the reporting unit’s goodwill is then compared with the carrying amount of the reporting unit’s goodwill to determine the goodwill impairment loss to be recognized, if any. For the fiscal year ended June 30, 2016, the Company determined that there was impairment to goodwill. (See Note 6) Intangible assets include in-process research and development (IPR&D) of pharmaceutical product candidates. IPR&D are considered indefinite-lived intangible assets and are assessed for impairment annually or more frequently if impairment indicators exist. If the associated research and development effort is abandoned, the related assets will be written-off and the Company will record a non-cash impairment loss on the Company’s consolidated statement of operations. For those compounds that reach commercialization, the IPR&D assets will be amortized over their estimated useful lives. For the fiscal year ended June 30, 2016, the Company determined that there was impairment to IPR&D. (See Note 6)
Impairment of Long-lived Assets	Impairment of Long-lived Assets 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 if the Company's review determines that the future undiscounted cash flows related to the groups, including these assets, will not be sufficient to recover their carrying value, the Company will reduce the carrying values of these assets down to the Company’s estimate of fair value.
Net Loss per Common Share	Net Loss per Common Share Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares 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. June 30, 2016 2015 Common Stock to be issued upon conversion of convertible preferred stock - Series A 506,666 506,666 Common Stock to be issued upon conversion of convertible preferred stock - Series C 2,350,040 2,358,370 Outstanding warrants 8,698,580 7,332,776 Outstanding options 1,917,238 1,626,919 Total potentially dilutive shares of Common Stock 13,472,524 11,824,731
Income Taxes	Income Taxes Income taxes are recorded in accordance with ASC Topic 740, Income Taxes, which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are provided, if based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. As of June 30, 2016, the Company’s tax years prior to June 30, 2013 are no longer subject to examination by the tax authorities. The Company is not currently under examination by any U.S. federal or state jurisdictions. As of June 30, 2016 and 2015, the Company does not have any significant uncertain tax positions.
Revenue Recognition	Revenue Recognition The Company has received certain nonrefundable upfront fees in exchange for the transfer of the Company’s technology to licensees. Upon delivery of the technology, the Company had no further obligations to the licensee with respect to the basic technology transferred and, accordingly, recognized revenue at that time. The Company has received certain nonrefundable upfront license fees in connection with agreements that include time-based payments and are deferred and amortized ratably over the estimated research period of the license. The Company has and may continue to receive additional payments from the Company’s licensees in the event such licensees achieve certain development or commercialization milestones in their particular field of use. Milestone payments, which are contingent upon the achievement of certain research goals, are recognized as revenue when the milestones, as defined in the particular agreement, are achieved.
Stock-based Compensation	Stock-based Compensation The Company accounts for stock-based compensation under the provisions of FASB ASC Topic 718, Compensation—Stock Compensation, which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair values on the grant date. For stock options issued to employees, the Company estimates the grant-date fair value of each option using the Black-Scholes option-pricing model. The use of the Black-Scholes option pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the common stock consistent with the expected life of the option, risk-free interest rates, the value of the common stock and expected dividend yields of the common stock. For awards subject to service-based vesting conditions, the Company recognizes stock-based compensation expense, net of estimated forfeitures, equal to the grant date fair value of stock options on a straight-line basis over the requisite service period, which is generally the vesting term. For awards subject to both performance and service-based vesting conditions, the Company recognizes stock-based compensation expense using the straight-line recognition method when it is probable that the performance condition will be achieved. Forfeitures are required to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Share-based payments issued to non-employees are recorded at their fair values, and are periodically revalued as the equity instruments vest and are recognized as expense over the related service period in accordance with the provisions of ASC 718 and ASC Topic 505, Equity. Fiscal Year Ended June 30, 2016 2015 2014 General and administrative $ 130,186 $ 401,411 $ 1,185,118 Research and development 26,492 79,270 112,106 Total $ 156,678 $ 480,681 $ 1,297,224 Fiscal Year Ended June 30, 2016 2015 2014 Risk-free interest rate (1) .00% - 2.15% 0.02%-2.32% 1.6 - 2.7% Expected volatility 69%-146% 95%-153% 85%-99% Dividend yield None None None Expected life (in years) (2) .08 - 8.4 0.63 - 10.0 5.0 - 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) Expected life for employee 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.
Research and Development	Research and Development Research and development costs are charged to expense as incurred. These costs include, but are not limited to, employee-related expenses, including salaries, benefits and travel and stock-based compensation of the Company’s research and development personnel; expenses incurred under agreements with contract research organizations and investigative sites that conduct preclinical studies; other supplies; allocated facilities, depreciation and other expenses, which include rent and utilities; insurance; and costs associated with preclinical activities and regulatory operations. Costs for certain development activities, such as clinical trials, are recognized based on an evaluation of the progress to completion of specific tasks using data such as subject enrollment, clinical site activations or information provided to the Company by vendors with respect to their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the pattern of costs incurred, and are reflected in the financial statements as prepaid or accrued research and development expense, as the case may be.
Comprehensive Loss	Comprehensive Loss Comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources.
Recent Accounting Pronouncements Applicable to the Company	Recent Accounting Pronouncements Applicable to the Company 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 May 2014, the FASB issued ASU No. 2014- 09, “Revenue from Contracts with Customers” (“ASU 2014-09”). ASU 2014-09 requires that a company recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which the company expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). ). In July 2015, the FASB approved a proposal to defer the effective date of the guidance until annual and interim reporting periods beginning after December 15, 2017. The Company does not anticipate that the adoption of this standard will have a material impact on the Company’s financial statements. In June 2014, the FASB issued ASU No. 2014-12, “Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period,” (“ASU 2014-12”). ASU 2014-12 requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The Company does not anticipate that the adoption of this standard will have a material impact on the Company’s financial statements. In August 2014, the FASB issued ASU No. 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,” (“ASU 2014-15”). ASU 2014-15 amended existing guidance related to the disclosures about an entity’s ability to continue as a going concern. These amendments are intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. These amendments provide guidance to an organization’s management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations in the financial statement footnotes. The amendments are effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. The Company does not anticipate that the adoption of this standard will have a material impact on the Company’s financial statements. In November 2014, the FASB issued ASU No. 2014-16, “Derivatives and Hedging (Topic 815), Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity,” (“ASU 2014-16”). All entities are required to use what is called the “whole instrument approach” to determine the nature of a host contract in a hybrid financial instrument issued in the form of a share. The guidance requires issuers and investors to consider all of a hybrid instrument’s stated and implied substantive terms and features, including any embedded derivative features being evaluated for bifurcation. The guidance eliminates the “chameleon approach,” under which all embedded features except the feature being analyzed are considered. The guidance is effective for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. The Company does not anticipate that the adoption of this standard will have a material impact on the Company’s financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)”, which supersedes FASB ASC 840. All entities will be required to record operating leases on the balance sheet as assets and liabilities instead of recording only capital (finance) leases on the balance sheet. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2017. The Company does not anticipate that the adoption of this standard will have a material impact on the Company’s financial statements. In March 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting”, which is intended to simplify several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early application is permitted. The Company is currently evaluating the impact of adoption on the Company’s financial statements. The Company has assessed other recently issued accounting pronouncements and has determined that they do not apply.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Calculation of the weighted average number 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: June 30, 2016 2015 Common Stock to be issued upon conversion of convertible preferred stock - Series A 506,666 506,666 Common Stock to be issued upon conversion of convertible preferred stock - Series C 2,350,040 2,358,370 Outstanding warrants 8,698,580 7,332,776 Outstanding options 1,917,238 1,626,919 Total potentially dilutive shares of Common Stock 13,472,524 11,824,731
Stock-Based Compensation Expense and Issuance of Common Stock for Services Included in Consolidated Statements of Operations	The following table sets forth the total stock-based compensation expense and issuance of Common Stock for services included in the consolidated statements of operations for the fiscal years ended June 30, 2016, 2015 and 2014. Fiscal Year Ended June 30, 2016 2015 2014 General and administrative $ 130,186 $ 401,411 $ 1,185,118 Research and development 26,492 79,270 112,106 Total $ 156,678 $ 480,681 $ 1,297,224
Black-Scholes Option-Pricing Model Assumptions used to Estimate Fair Value of Each Warrant and Option Grant	The Company estimated the fair value of each option grant throughout the year using the Black-Scholes option-pricing model using the following assumptions: Fiscal Year Ended June 30, 2016 2015 2014 Risk-free interest rate (1) .00% - 2.15% 0.02%-2.32% 1.6 - 2.7% Expected volatility 69%-146% 95%-153% 85%-99% Dividend yield None None None Expected life (in years) (2) .08 - 8.4 0.63 - 10.0 5.0 - 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) Expected life for employee 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.

Acquisition of Fabrus, Inc. (Ta

Acquisition of Fabrus, Inc. (Tables)	12 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Estimated fair values of the assets acquired and liabilities assumed	The Company’s consolidated financial statements reflect the operating results of Fabrus since May 16, 2014. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date: Purchase price per valuation 20,933,859 Less: Options to be recognized in the future (224,812) Purchase price for goodwill calculation 20,709,047 Assets acquired: Cash 1,274,662 Accounts receivable 43,133 Prepaid expenses 19,542 Equipment 234,000 Acquired research and development 9,800,000 Goodwill 13,902,917 25,274,254 Liabilities assumed: Accounts payable (409,117) Accrued payroll (74,525) Accrued expenses (161,565) Deferred tax liability (3,920,000) (4,565,207) Net assets of Fabrus, Inc. acquired 20,709,047
Business Acquisition, Pro Forma Information, Nonrecurring Adjustments	The following represents the Company’s pro-forma Consolidated Statements of Income as if Fabrus had been included in the Company’s consolidated results on July 1, 2014: Fiscal Year Ended June 30, 2014 (unaudited) Total revenue $ 182,229 Net loss $ (11,017,792) Loss applicable to common shares $ (5,646,989) Basis and diluted net loss per common share $ (1.36)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and 2015: Carrying Fair Value Measurement at June 30, 2016 Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 810,808 $ 810,808 $ - $ - Warrant and Stock Right Liabilities $ 956,575 $ - $ - $ 956,575 Carrying Fair Value Measurement at June 30, 2015 Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 3,334,626 $ 3,334,626 $ - $ - Warrant and Stock Right Liabilities $ 2,502,047 $ - $ - $ 2,502,047
Changes in Fair Value of the Company's Level 3 Financial Instruments	The following table summarizes the changes in fair value of the Company’s Level 3 financial instruments: Fiscal Year ended June 30, 2016 2015 Beginning Balance $ 2,502,047 $ - Issuance of common stock warrants 559,261 1,742,703 Recognition of stock right 142,854 775,062 Change in fair value of warrant liabilities, net (1,993,560) (3,313) Change in fair value of stock right, net (254,027) (12,405) Ending Balance $ 956,575 $ 2,502,047

Equipment, Furniture and Fixt23

Equipment, Furniture and Fixtures (Tables)	12 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Equipment, Furniture and Fixtures	Equipment, Furniture and Fixtures consist of the following: June 30, 2016 2015 Laboratory Equipment $ 310,523 $ 310,523 Office Equipment 21,680 21,681 Leasehold Improvements 10,236 10,236 Furniture and fixtures 6,920 6,920 $ 349,359 $ 349,360 Less—Accumulated depreciation (256,805) (163,412) $ 92,554 $ 185,948

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Jun. 30, 2016
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses were comprised of the following: June 30, 2016 2015 Accrued research $ 66,409 $ 48,909 Accrued payroll 74,240 135,497 Accrued dividends payable 9,502 6,335 Accrued other 106,225 217,964 $ 256,376 $ 408,705

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Fair Value Measurements, Nonrecurring [Table Text Block]	The assumptions used to value the warrants at the date of issuance and June 30, 2015 and June 30, 2016 are as follows: May/June 2015 Issuance June 30, 2015 July 2015 Issuance June 30, 2016 Estimated life in years 2.5 2.4 2.5 1.4 - 1.5 Risk-free interest rate (1) 0.73% 0.73% 0.91% 0.64% Volatility 115.20% 115.20% 108.60% 110.90% Dividend paid None None None None (1) Represents the interest rate on a U.S. Treasury security with a maturity date corresponding to that of the warrant term.
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award Of Warrants [Table Text Block]	Warrant activity is summarized as follows: Weighted Aggregate Average Exercise Price Number Exercise Price Range Outstanding, June 30, 2013 283,156 36.06 $ 1.00 - $ 345.00 Granted 8,978,481 141.84 2.00 - 4.00 Exercised (2,023,658) 3.84 52.00 - 315.00 Cancelled - - - Expired (205) 308.78 60.00 - 315.00 Outstanding, June 30, 2014 7,237,774 $ 4.77 $ 1.00 - $ 345.00 Granted 3,552,639 1.50 1.50 Exercised - - - Cancelled - - - Expired (3,457,637) 4.84 $ 3.00 - $ 345.00 Outstanding, June 30, 2015 7,332,776 $ 3.15 $ 1.00 - $ 140.00 Granted 1,368,854 $ 1.20 $ 0.75- $ 1.50 Exercised - - - Cancelled - - - Expired (3,050) 33.77 $ 32.00 - $ 140.00 Outstanding, June 30, 2016 8,698,580 2.83 $ 0.75- $ 108.00 Warrants as liabilities at June 30, 2014 - - Warrants as liabilities at June 30, 2015 (1) 3,552,639 $ 1.50 Warrants as liabilities at June 30, 2016 (1) 4,921,493 $ 1.42 (1) Exercise price subject to reset as discussed in Public Placements of Serice C Preferred Stock

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Option Activity	Stock option activity under the 2008 Plan and 1998 Plan is summarized as follows: Weighted Aggregate Average Exercise Price Number Exercise Price Range Outstanding, June 30, 2013 231,748 50.00 4.00 – 345.00 Granted 778,480 2.94 2.65 - 5.40 Exercised - - - Cancelled (27,788) 16.50 16.50 Expired (3,136) 229.65 52.00 - 315.00 Outstanding, June 30, 2014 979,304 $ 9.49 $ 2.65 - $ 345.00 Granted 1,203,676 0.73 $ 0.54 - $ 0.83 Exercised - - Cancelled (552,471) 3.41 $0.83 - $ 140.00 Expired (3,590) 289.09 $ 43.00 - $ 345.00 Outstanding, June 30, 2015 1,626,919 $ 4.45 $ 0.54 - $ 140.00 Granted 485,682 $ 0.31 $ 0.22 - $ 0.50 Exercised - Cancelled (151,588) 3.99 $ 0.83 - $ 140.00 Expired (43,775) 11.02 $ 0.83 - $ 140.00 Outstanding, June 30, 2016 1,917,238 $ 3.29 $ 0.22 - $ 140.00 Options exercisable at June 30, 2014 428,286 $ 17.48 Options exercisable at June 30, 2015 1,228,739 $ 5.53 Options exercisable at June 30, 2016 1,841,728 $ 3.38
Non-vested Stock Option Activity	Non-vested stock option activity under the Plan is summarized as follows: Weighted-average Number of Grant-Date Options Fair Value Non-vested stock options at June 30, 2015 398,180 $ 0.81 Granted 485,682 0.31 Vested (656,639) 0.40 Forfeited / Cancelled (151,713) 1.01 Non-vested stock options at June 30, 2016 75,510 $ 0.76

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Reconciliation of Effective Income Tax Rate to Federal Statutory Rate	The reconciliation of the effective income tax rate to the federal statutory rate is as follows: June 30, 2016 2015 2014 Federal income tax provision at statutory rate (34.0) % (34.0) % (34.0) % State income taxes, net of federal benefit (3.5) % (3.2) % (5.4) % Change in State Rate 28.7 % - % - % Deferred Tax Adjustment 17.1 % - % - % Goodwill Impairment 22.0 % 15.3 % - % Permanent items (8.4) % 0.4 % 3.1 % Research and development credits (0.7) % (3.0) % - % Change in valuation allowance (28.8) % 24.5 % 36.3 % Actual income tax provision (benefit) effective tax rate (7.6) % - % - %
Deferred Income Tax Assets	The principal components of deferred income tax assets consist of the following: June 30, 2016 2015 2014 Deferred Tax Assets: Net operating loss carryforwards $ 26,096,000 $ 27,224,000 $ 23,719,000 Stock-based compensation 1,386,000 2,843,000 2,721,000 Other 1,281,000 1,285,000 651,000 Deferred tax assets 28,763,000 31,352,000 27,091,000 Deferred Tax Liabilities: Indefinite-lived intangibles (3,240,000) (3,920,000) (3,920,000) Deferred tax liabilities (3,240,000) (3,920,000) (3,920,000) Less: valuation allowance (28,763,000) (31,352,000) (27,091,000) Net deferred tax asset / (liability) $ (3,240,000) $ (3,920,000) $ (3,920,000)

Principal Business Activity - A

Principal Business Activity - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2014	Jun. 30, 2013
Accumulated deficit		$ 115,630,059
Cash and Cash Equivalents, at Carrying Value, Total	$ 3,334,626	$ 810,808	$ 6,111,340	$ 1,602,294
University of Waterloo, Research Agreement [Member]
Termination Benefits And Associated Employee Costs	$ 47,000

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Summary Of Significant Accounting Policies [Line Items]
Maturity period of all highly liquid instruments at the time of purchase to be cash equivalents (in days)	90 days
Business Combination, Acquisition Related Costs	$ 0	$ 0	$ 544,978

Calculation of Weighted Average

Calculation of Weighted Average Number of Dilutive Shares of Common Stock (Detail) - shares	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Summary Of Significant Accounting Policies [Line Items]
Common Stock to be issued upon conversion of convertible preferred stock	13,472,524	11,824,731
Series A Preferred stock
Summary Of Significant Accounting Policies [Line Items]
Common Stock to be issued upon conversion of convertible preferred stock	506,666	506,666
Series C Preferred Stock
Summary Of Significant Accounting Policies [Line Items]
Common Stock to be issued upon conversion of convertible preferred stock	2,350,040	2,358,370
Outstanding options
Summary Of Significant Accounting Policies [Line Items]
Common Stock to be issued upon conversion of convertible preferred stock	1,917,238	1,626,919
Outstanding warrants
Summary Of Significant Accounting Policies [Line Items]
Common Stock to be issued upon conversion of convertible preferred stock	8,698,580	7,332,776

Stock-Based Compensation Expens

Stock-Based Compensation Expense and Issuance of Common Stock for Services Included in Consolidated Statements of Operations (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Summary Of Significant Accounting Policies [Line Items]
Stock-based compensation expense	$ 156,678	$ 480,681	$ 1,297,224
General and administrative
Summary Of Significant Accounting Policies [Line Items]
Stock-based compensation expense	130,186	401,411	1,185,118
Research and development
Summary Of Significant Accounting Policies [Line Items]
Stock-based compensation expense	$ 26,492	$ 79,270	$ 112,106

Black-Scholes Option-Pricing Mo

Black-Scholes Option-Pricing Model Assumptions used to Estimate Fair Value of Each Warrant and Option Grant (Detail)		12 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate, minimum	[1]	0.00%	0.02%	1.60%
Risk-free interest rate, maximum	[1]	2.15%	2.32%	2.70%
Expected volatility, minimum		69.00%	95.00%	85.00%
Expected volatility, maximum		146.00%	153.00%	99.00%
Dividend yield		0.00%	0.00%	0.00%
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life (in years)	[2]	29 days	7 months 17 days	5 years
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life (in years)	[2]	8 years 4 months 24 days	10 years	10 years
[1]	Represents the interest rate on a U.S. Treasury security with a maturity date corresponding to that of the option term.
[2]	Expected life for employee 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.

Acquisition of Fabrus, Inc - Ad

Acquisition of Fabrus, Inc - Additional Information (Detail) - USD ($)	1 Months Ended
	May 16, 2014	Feb. 21, 2014
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	6,905,201
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 18,298,782
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	3,578,481
Warrant To Purchase Of Common Stock Fair Value Amount	$ 2,349,853
Investment Options, Exercise Price	$ 2.65
Options To Purchase Of Common Stock Fair Value Amount	$ 285,224
Business Combination Purchase Price For Valuation	20,933,859
Business Acquisition Additional Purchase Price Prior To Acquisition Services	60,412
Business Acquisition Amortized Expenses Post To Acquisition Services	$ 224,812
Minimum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 2	$ 2
Maximum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 4	$ 4

Estimated fair values of the as

Estimated fair values of the assets acquired and liabilities assumed (Detail)	May 16, 2014USD ($)
Purchase price per valuation	$ 20,933,859
Less: Options to be recognized in the future	(224,812)
Purchase price for goodwill calculation	20,709,047
Assets acquired:
Cash	1,274,662
Accounts receivable	43,133
Prepaid expenses	19,542
Equipment	234,000
Acquired research and development	9,800,000
Goodwill	13,902,917
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	25,274,254
Liabilities assumed:
Accounts payable	(409,117)
Accrued payroll	(74,525)
Accrued expenses	(161,565)
Deferred tax liability	(3,920,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	(4,565,207)
Net assets of Fabrus, Inc. acquired	$ 20,709,047

Business Acquisition, Pro Forma

Business Acquisition, Pro Forma Consolidated Statements of Income (Detail)	12 Months Ended
	Jun. 30, 2014USD ($)$ / shares
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total revenue	$ 182,229
Net loss	(11,017,792)
Loss applicable to common shares	$ (5,646,989)
Basis and diluted net loss per common share | $ / shares	$ (1.36)

Assets and Liabilities at Fair

Assets and Liabilities at Fair Value Measured on Recurring Basis (Detail) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant and Stock Right Liabilities	$ 956,575	$ 2,502,047	$ 0
Fair Value Measurements Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	810,808	3,334,626
Warrant and Stock Right Liabilities	956,575	2,502,047
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	810,808	3,334,626
Warrant and Stock Right Liabilities	0	0
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
Warrant and Stock Right Liabilities	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
Warrant and Stock Right Liabilities	$ 956,575	$ 2,502,047

Changes in Fair Value of the Co

Changes in Fair Value of the Company's Financial Instruments (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Beginning Balance	$ 2,502,047	$ 0
Issuance of common stock warrants	559,261	1,742,703	$ 0
Recognition of stock right	142,854	775,062	0
Change in fair value of warrant liabilities, net	(1,993,560)	(3,313)	0
Change in fair value of stock right, net	(254,027)	(12,405)	0
Ending Balance	$ 956,575	$ 2,502,047	$ 0

Equipment, Furniture and Fixt38

Equipment, Furniture and Fixtures - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Depreciation	$ 93,394	$ 152,097	$ 18,275

Equipment, Furniture and Fixt39

Equipment, Furniture and Fixtures (Detail) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 349,359	$ 349,360
Less—Accumulated depreciation	(256,805)	(163,412)
Property, Plant and Equipment, Net	92,554	185,948
Laboratory Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	310,523	310,523
Office Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	21,680	21,681
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	10,236	10,236
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 6,920	$ 6,920

Intangible assets - Additional

Intangible assets - Additional Information (Detail) - USD ($)	1 Months Ended				12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Oct. 31, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Finite Lived Intangible Assets [Line Items]
Impairment Of Patents							$ 330,190
Legal Fees					$ 421,287	$ 219,270
Impairment Of Intangible Assets Finitelived	$ 1,000,000				5,780,951	8,121,966	0
Amortization of Intangible Assets						24,977	331,381
Acquired Research And Development			$ 9,800,000		8,100,000	9,800,000
Finite-Lived Patents, Gross			283,393
Goodwill			13,902,917		0	5,780,951
Goodwill, Impairment Loss			$ 8,121,966		5,780,951	8,121,966	0
Write-Off Of Prepaid Research Supplies					0	$ 669,750	0
Asset Impairment Charges	2,981,000	$ 2,800,000
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 8,800,000
Acquired Research And Development [Member]
Finite Lived Intangible Assets [Line Items]
Impairment Of Intangible Assets Finitelived					$ 700,000
Patents [Member]
Finite Lived Intangible Assets [Line Items]
Impairment Of Intangible Assets Finitelived				$ 2,290,836			$ 1,350,591

Accrued Expenses (Detail)

Accrued Expenses (Detail) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Accounts Payable And Accrued Liabilities [Line Items]
Accrued research	$ 66,409	$ 48,909
Accrued payroll	74,240	135,497
Accrued dividends payable	9,502	6,335
Accrued other	106,225	217,964
Accrued Liabilities, Current	$ 256,376	$ 408,705

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	1 Months Ended					12 Months Ended
	Jul. 27, 2015	Jun. 13, 2014	Feb. 21, 2014	Dec. 16, 2013	Oct. 02, 2013	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014	May 16, 2014
Preferred Stock Stated Value Per Share						$ 1,000
Preferred Stock, Dividend Rate, Percentage						10.00%
Preferred Stock, Dividend Payment Terms						If the dividends are paid in shares of Common Stock, such shares will be priced at the lower of 90% of the average volume weighted-average price for the 20 trading days immediately preceding the payment date or $22.40.
Stock Conversion Price Per Share						$ 0.75
Stock Issued During Period, Value, New Issues						$ 1,152,397	$ 4,827,569
Stock Issued During Period Shares Stock Dividend						108,576	59,500	17,524
Stock Issued During Period, Value, Stock Dividend						$ 40,286	$ 56,583	$ 20,001
Proceeds from Issuance or Sale of Equity, Total						1,152,397	4,827,569	10,917,325
Class of Warrant or Right, Number of Securities Called by Warrants or Rights									3,578,481
Dividends, Preferred Stock						9,502	6,335
Common stock proceeds to warrants						559,261	1,742,703	0
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net						$ 1,993,560	3,313	0
Shares Issued, Price Per Share						$ 0.01
Common Stock Proceeds To Stock Rights						$ 142,854	775,062	0
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments						$ 254,027	12,405	0
Other Commitments, Description						The agreement included a penalty of 1% per month of the investor’s investment, payable in cash, for every 30 day period up to a maximum of 6% for failure to comply with the terms of the agreement. In the event the listing is not continuously maintained for five years after the closing date, on each monthly anniversary of each such listing default date until the applicable listing default is cured, the Company would pay to each subscriber an amount in cash, as partial liquidated damages equal to 1% of the subscriber’s amounts invested held as of each such date
Common stock proceeds to warrants and Conversion						$ 135,701	$ 790,507	0
May 9, 2013 Placement
Additional Common Stock Issued Under Exercise Price Reset Feature					3,867
Dividends Payable					$ 15,468
Public Placements of Common Stock and Warrants
Issuance Of Common Stock And Warrants Price Per Share						$ 0.75
Stock Issued During Period, Shares, New Issues						666,667	2,358,370
Gross Proceeds From Issuance of Common Stock				$ 5,400,000
Proceeds from Issuance or Sale of Equity, Total				$ 5,278,236
Stock Issued During Period, Shares, Other				180,000
Payments of Stock Issuance Costs				$ 121,764
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 1.50
Common stock proceeds to warrants						$ 559,261	$ 1,742,703
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net						$ 1,993,560	3,313
Maximum
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 4						$ 4
Minimum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 2						$ 2
Warrant Amendment Agreement
Number Of Warrants Exchanged			1,746,666
Common Shares Issued Upon Exercise Of Warrants			1,746,666
Series A Warrant | Warrant Amendment Agreement
Dividends Payable		$ 847,600
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		1,630,000
Series B Warrant | May 9, 2013 Placement
Additional Common Stock Issued Under Exercise Price Reset Feature			8,770
Dividends Payable			$ 35,606
Series B Warrant | Warrant Amendment Agreement
Dividends Payable			$ 2,820,866
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			1,746,666
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 2
Proceeds from Warrant Exercises			$ 3,493,332
Warrant Exchange Agreements
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 2.83
Series A And FA Warrant [Member]
Dividends, Preferred Stock		$ 1,695,216
Class of Warrant or Right, Outstanding		3,260,030
Preferred Stock
Stock Conversion Price Per Share						$ 32
Conversion of Stock, Description						The conversion price is subject to adjustment if the Company sells or grants any Common Stock or Common Stock equivalents, subject to certain exclusions, at an effective price per share that is lower than the conversion price of the Series A Convertible Preferred Stock. As a result of multiple issuances of shares of common stock, as of June 30, 2016, the initial conversion prices have been adjusted from $32.00 per share to $0.75 per share.
Stock Issued During Period, Value, New Issues						$ 667	$ 2,358
Stock Issued During Period, Shares, New Issues						66,667	235,837
Stock Issued During Period, Value, Stock Dividend								0
Dividends, Preferred Stock						$ 0	$ 0
Common stock
Stock Issued During Period, Value, New Issues						$ 9,600	$ 47,470
Stock Issued During Period, Shares, New Issues						959,996	4,746,952
Stock Issued During Period, Value, Stock Dividend								$ 301
Dividends, Preferred Stock						$ 0	$ 0
Common stock | Public Placements of Common Stock and Warrants
Stock Issued During Period, Shares, New Issues						1,626,663	4,746,952
Warrant
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 1.50
Six month warrants 1 | Public Placements of Common Stock and Warrants
Equity Issuance Per Shares Amount				$ 3
Six month warrants 2 | Public Placements of Common Stock and Warrants
Equity Issuance Per Shares Amount				4
Three year warrants | Public Placements of Common Stock and Warrants
Equity Issuance Per Shares Amount				$ 4
Series A Preferred stock
Preferred Stock, Par or Stated Value Per Share						0.01	$ 0.01
Shares Issued, Price Per Share						22.40
October 2, 2013
Issuance Of Common Stock And Warrants Price Per Share						$ 5
Stock Issued During Period, Value, New Issues						$ 1,725,000
Stock Issued During Period, Shares, New Issues						690,000
Gross Proceeds From Issuance of Common Stock						$ 1,560,770
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right						2
Equity Issuance Per Shares Amount						$ 2.50
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs						$ 164,230
Series C Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage						0.00%
Stock Conversion Price Per Share						$ 0.75
Percentage of Ownership Interests						4.99%
Preferred Stock, Par or Stated Value Per Share						$ 0.01	$ 0.01
Preferred Stock, Dividends Per Share, Declared						$ 7.50
Series C Preferred Stock [Member] | Public Placements of Common Stock and Warrants
Convertible Preferred Stock, Shares Issued upon Conversion						666,667	2,358,370
Stock Issued During Period, Value, New Issues						$ 1,219,997	$ 5,328,966
Stock Issued During Period, Shares, New Issues						66,667	235,837
Payments of Stock Issuance Costs						$ 67,600	$ 501,397
Convertible Preferred Stock Warrants Issued Upon Conversion						813,332	3,552,640
Placement Agent Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.75					$ 0.75
Number Of Warrants Issued	555,552

Stockholders' Equity (Detail)

Stockholders' Equity (Detail) - $ / shares		12 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
Estimated life in years			2 years 4 months 24 days
Risk-free interest rate	[1]	0.64%	0.73%
Volatility		110.90%	115.20%
Dividend paid		$ 0	$ 0
Maximum [Member]
Estimated life in years		1 year 6 months
Minimum [Member]
Estimated life in years		1 year 4 months 24 days
Date of Issuance [Member]
Estimated life in years		2 years 6 months	2 years 6 months
Risk-free interest rate	[1]	0.91%	0.73%
Volatility		108.60%	115.20%
Dividend paid		$ 0	$ 0
[1]	Represents the interest rate on a U.S. Treasury security with a maturity date corresponding to that of the warrant term.

Warrant activity (Detail)

Warrant activity (Detail) - Warrant [Member] - $ / shares		12 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Aggregate Number
Beginning Balance		7,332,776	7,237,774	283,156
Granted		1,368,854	3,552,639	8,978,481
Exercised		0	0	(2,023,658)
Cancelled		0	0	0
Expired		(3,050)	(3,457,637)	(205)
Ending Balance		8,698,580	7,332,776	7,237,774
Warrants as liabilities	[1]	4,921,493	3,552,639
Weighted Average Exercise Price
Beginning Balance		$ 3.15	$ 4.77	$ 36.06
Granted		1.20	1.50	141.84
Exercised		0	0	3.84
Cancelled		0	0	0
Expired		33.77	4.84	308.78
Ending Balance		2.83	3.15	4.77
Warrants as liabilities	[1]	1.42	1.50
Exercise Price Range
Granted			1.50
Exercised		0	0
Cancelled		0	0	0
Maximum [Member]
Exercise Price Range
Beginning Balance		140	345	345
Granted		1.50		4
Exercised				315
Expired		140	345	315
Ending Balance		108	140	345
Minimum [Member]
Exercise Price Range
Beginning Balance		1	1	1
Granted		0.75		2
Exercised				52
Expired		32	3	60
Ending Balance		$ 0.75	$ 1	$ 1
[1]	Exercise price subject to reset as discussed in Public Placements of Serice C Preferred Stock section.

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	Sep. 13, 2013	Nov. 18, 2014	Nov. 16, 2012	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013	Feb. 19, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued	46,780	392,860	37,050	485,682
Aggregate Black-Scholes value	$ 201,154	$ 237,291	$ 489,060
Stock option outstanding intrinsic value				$ 0
Option outstanding weighted average remaining term				6 years 7 months 2 days
Exercisable aggregate intrinsic value				$ 0
Weighted average option exercisable remaining life				6 years 6 months 7 days
Shares available for future stock option grant				4,020,462
Stock based compensation expense related to stock options, not yet recognized, period of recognition				36 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		47,345
Probability to achieve employee target goals				81.00%	81.00%	81.00%
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized				$ 51,183
Stock Granted, Value, Share-based Compensation, Gross	$ 201,154	$ 237,291	$ 489,060
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period		85,504
Stock Issued During Period, Value, Share-based Compensation, Forfeited		$ 51,645
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares		70,350		656,639
Share Reserve Increase				5.00%
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum				25.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Probability to achieve employee target goals							55.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Probability to achieve employee target goals							25.00%
2008 Incentive Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance				5,938,700
Annual Increase In Aggregate Number Of Shares Reserved For Future Issuance				1,500,000
Share Registration Statement Shares Of Common Stock To Be Registered								4,917,670

Stock-Based Compensation Stock

Stock-Based Compensation Stock Option Activity (Detail) - $ / shares	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Aggregate Number
Beginning Balance	1,626,919	979,304	231,748
Granted	485,682	1,203,676	778,480
Exercised	0	0	0
Cancelled	(151,588)	(552,471)	(27,788)
Expired	(43,775)	(3,590)	(3,136)
Ending Balance	1,917,238	1,626,919	979,304
Options exercisable at end of Period	1,841,728	1,228,739	428,286
Weighted Average Exercise Price
Beginning Balance	$ 4.45	$ 9.49	$ 50
Granted	0.31	0.73	2.94
Exercised			0
Cancelled	3.99	3.41	16.5
Expired	11.02	289.09	229.65
Ending Balance	3.29	4.45	9.49
Options exercisable at end of Period	3.38	5.53	17.48
Exercise Price Range
Exercised		0	0
Cancelled			16.5
Maximum [Member]
Exercise Price Range
Beginning Balance	140	345	345
Granted	0.50	0.83	5.40
Cancelled	140	140
Expired	140	345	315
Ending Balance	140	140	345
Minimum [Member]
Exercise Price Range
Beginning Balance	0.54	2.65	4
Granted	0.22	0.54	2.65
Cancelled	0.83	0.83
Expired	0.83	43	52
Ending Balance	$ 0.22	$ 0.54	$ 2.65

Non-vested stock option activit

Non-vested stock option activity under Plan (Detail) - $ / shares	Sep. 13, 2013	Nov. 18, 2014	Nov. 16, 2012	Jun. 30, 2016
Number of Options
Beginning Balance				398,180
Options issued	46,780	392,860	37,050	485,682
Vested		(70,350)		(656,639)
Forfeited / Cancelled				(151,713)
Ending Balance				75,510
Weighted-average Grant-Date Fair Value
Beginning Balance				$ 0.81
Granted				0.31
Vested				0.4
Forfeited / Cancelled				1.01
Ending Balance				$ 0.76

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Tax [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ 2,590,000	$ 4,261,000
Federal
Income Tax [Line Items]
Operating Loss Carryforwards	$ 72,795,000
Operating Loss Carryforwards Expiration Period	expire in 2019
State
Income Tax [Line Items]
Operating Loss Carryforwards	$ 23,057,000
Operating Loss Carryforwards Expiration Period	expire at various dates starting in 2031

Reconciliation of Effective Inc

Reconciliation of Effective Income Tax Rate to Federal Statutory Rate (Detail)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Reconciliation Of Effective Income Tax Rate [Line Items]
Federal income tax provision at statutory rate	(34.00%)	(34.00%)	(34.00%)
State income taxes, net of federal benefit	(3.50%)	(3.20%)	(5.40%)
Change in State Rate	28.70%	0.00%	0.00%
Deferred Tax Adjustment	17.10%	0.00%	0.00%
Goodwill Impairment	22.00%	15.30%	0.00%
Permanent items	(8.40%)	0.40%	3.10%
Research and development credits	(0.70%)	(3.00%)	0.00%
Change in valuation allowance	(28.80%)	24.50%	36.30%
Actual income tax provision (benefit) effective tax rate	(7.60%)	0.00%	0.00%

Deferred Income Tax Asset (Deta

Deferred Income Tax Asset (Detail) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Deferred Tax Assets [Line Items]
Net operating loss carryforwards	$ 26,096,000	$ 27,224,000	$ 23,719,000
Stock-based compensation	1,386,000	2,843,000	2,721,000
Other	1,281,000	1,285,000	651,000
Deferred tax assets	28,763,000	31,352,000	27,091,000
Deferred Tax Liabilities:
Indefinite-lived intangibles	(3,240,000)	(3,920,000)	(3,920,000)
Deferred tax liabilities	(3,240,000)	(3,920,000)	(3,920,000)
Less: valuation allowance	(28,763,000)	(31,352,000)	(27,091,000)
Net deferred tax asset / (liability)	$ (3,240,000)	$ (3,920,000)	$ (3,920,000)

Commitments - Additional Inform

Commitments - Additional Information (Detail)	1 Months Ended
	Nov. 19, 2014USD ($)ft²	Jun. 30, 2016USD ($)
Commitments [Line Items]
Contractual Obligation, Due in Second and Third Year, Total		$ 94,342
Sublease Agreement [Member]
Commitments [Line Items]
Area of Real Estate Property | ft²	10,571
Operating Leases, Rent Expense, Sublease Rentals	$ 22,728

Intangibles - Additional Inform

Intangibles - Additional Information (Detail) $ in Millions	Mar. 31, 2016USD ($)
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 8.8