Eloxx Pharmaceuticals (ELOX) 10-Q 14 Nov 17 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Entity Registrant Name	Sevion Therapeutics, Inc.
Entity Central Index Key	1,035,354
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Trading Symbol	SVON
Entity Common Stock, Shares Outstanding		51,414,613

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2017	Jun. 30, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 957,874	$ 33,198
Prepaid expenses and other current assets	80,582	251,223
Total Current Assets	1,038,456	284,421
Equipment, furniture and fixtures, net	42,771	50,979
Acquired research and development	5,500,000	5,500,000
Security deposits	9,800	9,800
TOTAL ASSETS	6,591,027	5,845,200
CURRENT LIABILITIES:
Accounts payable	108,569	191,597
Accrued expenses	255,385	330,301
Notes Payable	712,335	407,122
Derivative Liability	0	1,844,974
Total Current Liabilities	1,076,289	2,773,994
Deferred tax liability	2,200,000	2,200,000
TOTAL LIABILITIES	3,276,289	4,973,994
STOCKHOLDERS' EQUITY:
Common stock, $0.01 par value, authorized 500,000,000 shares, issued and outstanding 51,414,613 and 29,202,799 at September 30, 2017 and June 30, 2017 respectively	514,146	292,028
Capital in excess of par	126,006,164	122,401,918
Accumulated deficit	(123,205,572)	(121,824,326)
Total Stockholders' Equity	3,314,738	871,206
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	6,591,027	5,845,200
Series A Convertible Preferred stock
STOCKHOLDERS' EQUITY:
Convertible preferred stock	0	3
Series C Convertible Preferred stock
STOCKHOLDERS' EQUITY:
Convertible preferred stock	$ 0	$ 1,583

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	500,000,000	500,000,000
Common stock, issued	51,414,613	29,202,799
Common stock, outstanding	51,414,613	29,202,799
Series A Convertible Preferred Stock
Preferred stock, par value		$ 0.01
Preferred stock, authorized		5,000,000
Preferred stock, shares issued		10,297
Preferred stock, shares outstanding		270
Preferred stock, liquidation preference		$ 280,418
Series C Convertible Preferred stock
Preferred stock, par value		$ 0.01
Preferred stock, authorized		1,228,500
Preferred stock, shares issued		158,336
Preferred stock, shares outstanding		158,336
Preferred stock, liquidation preference		$ 1,583

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2017	Jun. 30, 2017
Operating expenses:
General and administrative	$ 491,810	$ 480,020
Research and development	135,639	280,240
Gain on sale of patents	0	(149,728)
Impairment of acquired R&D	0	1,600,000
Total operating expenses	627,449	2,210,532
Loss from operations	(627,449)	(2,210,532)
Other non-operating income (expense)
Change in fair value of stock right	0	428,315
Change in fair value of warrant liability	0	208,714
Change in fair value of note derivative	(512,104)	0
Interest expense	(127,425)	(74)
Net loss before income tax benefit	(1,266,978)	(1,573,577)
Income tax benefit	0	640,000
Net Loss	(1,266,978)	(933,577)
Preferred dividends	(114,268)	(9,502)
Net loss applicable to common shares	$ (1,381,246)	$ (943,079)
Basic and diluted net loss per common share	$ (0.03)	$ (0.05)
Basic and diluted weighted-average number of common shares outstanding	41,480,470	20,496,385

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY - 3 months ended Sep. 30, 2017 - USD ($)	Total	Preferred stock	Common Stock	Capital in Excess of Par Value	Accumulated Deficit
Beginning Balance at Jun. 30, 2017	$ 871,206	$ 1,586	$ 292,028	$ 122,401,918	$ (121,824,326)
Beginning Balance (in shares) at Jun. 30, 2017		158,606	29,202,799
Stock issued for Cash	1,500,000	$ 0	$ 100,000	1,400,000	0
Stock issued for Cash (in shares)		0	10,000,000
Stock issued due to note conversion	2,199,467	$ 0	$ 77,049	2,122,418	0
Stock issued due to note conversion (in shares)		0	7,704,903
Stock-based compensation	626	$ 0	$ 0	626	0
Stock-based compensation (in shares)		0	0
Preferred stock converted into common stock	0	$ (1,586)	$ 44,688	(43,102)	0
Preferred stock converted into common stock (in shares)		(158,606)	4,468,800
Deemed dividend - preferred stock	0	$ 0	$ 0	114,268	(114,268)
Dividends paid	10,417	$ 0	$ 381	10,036	0
Dividends paid (in shares)		0	38,111
Net loss	(1,266,978)	$ 0	$ 0	0	(1,266,978)
Ending Balance at Sep. 30, 2017	$ 3,314,738	$ 0	$ 514,146	$ 126,006,164	$ (123,205,572)
Ending Balance (in shares) at Sep. 30, 2017		0	51,414,613

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net loss	$ (1,266,978)	$ (933,577)
Noncash (income) expense related to change in fair value of:
- stock right	0	(428,315)
- warrant liability	0	(208,714)
Noncash charge for accretion of debt discount	122,821
Noncash charge for note conversion to common stock	512,104
Gain on sale of patents	0	(149,728)
Stock-based compensation expense	626	8,205
Depreciation and amortization	8,208	11,635
Write-off of intangibles	0	1,600,000
Deferred Tax	0	(640,000)
Deferred rent	0	(16,204)
(Increase) decrease in operating assets:
Prepaid expenses and other current assets	170,641	82,973
Security deposit	0	(5,000)
Increase (decrease) in operating liabilities:
Accounts payable	(83,031)	54,569
Accrued expenses	(39,715)	50,412
Net cash used in operating activities	(575,324)	(573,744)
Cash flows from investing activities:
Proceeds from sale of patents	0	50,000
Net cash provided by (used in) investing activities	0	50,000
Cash flows from financing activities:
Proceeds from issuance of common stock	1,500,000	0
Net cash provided by financing activities	1,500,000	0
Net (decrease) increase in cash and cash equivalents	924,676	(523,744)
Cash and cash equivalents at beginning of period	33,198	810,808
Cash and cash equivalents at end of period	957,874	287,064
Supplemental disclosure of non-cash transactions:
Conversion of convertible note into common stock	2,199,467	0
Conversion of preferred stock into common stock	43,102	0
Issuance of common stock for dividend payments on preferred stock	10,417	0
Dividends accrued on preferred stock	0	9,502
Deemed dividend - preferred stock	$ 114,268	$ 0

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1 - Basis of Presentation: The financial statements included herein have been prepared by Sevion Therapeutics, Inc. (the “Company”) without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting solely of those which are of a normal recurring nature, necessary to present fairly its financial position as of September 30, 2017, the results of its operations for the three months ended September 30, 2017 and cash flows for the three months ended September 30, 2017. Interim results are not necessarily indicative of results for the full fiscal year.

Liquidity

Liquidity	3 Months Ended
	Sep. 30, 2017
Liquidity [Abstract]
Liquidity	Note 2 – Liquidity: As shown in the accompanying condensed consolidated financial statements, the Company has a history of losses with an accumulated deficit of $ 123,205,572 On May 31, 2017, the Company entered into an agreement (the “Agreement”), which was amended on August 1, 2017, with Sevion Acquisition Co. Ltd., an Israeli company and the Company’s wholly-owned subsidiary (“Acquisition Subsidiary”), and Eloxx Pharmaceuticals Ltd., an Israeli company (“Eloxx”), pursuant to which Eloxx will merge with and into Acquisition Subsidiary, with Eloxx surviving as the Company’s wholly-owned subsidiary (the “Transaction”). Consummation of the Transaction is subject to certain closing conditions, including, among other things: (i) approval of the Transaction by the stockholders of Eloxx; (ii) the successful consummation of separate equity financings resulting in cash investments in the Company’s business and Eloxx of no less than $ 12,000,000 As of September 30, 2017, the Company had cash in the amount of $ 957,874 If the Company is unable to raise additional funds or complete the Transaction, 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. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Consequently, the audit reports prepared by the Company’s independent registered public accounting firm relating to the Company’s consolidated financial statements for the years ended June 30, 2017, 2016 and 2015 include an explanatory paragraph expressing substantial doubt about the Company’s ability to continue as a going concern. These interim consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Intangibles

Intangibles	3 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	Note 3 – Intangibles: 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. The Company determined enterprise value to be the most reasonable measurement of Intangibles for purposes of the analysis. The Company concluded that there was no impairment based on the Company’s market value for the three months ended September 30, 2017 and determined that there was an impairment of $ 1,600,000

Loss Per Share

Loss Per Share	3 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Loss Per Share	Note 4 - Loss Per Share: Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of the Company’s Common Stock assumed to be outstanding during the period of computation. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional shares of Common Stock that would have been outstanding if the potential shares of Common Stock had been issued and if the additional shares of Common Stock were dilutive. For all periods presented, basic and diluted loss per share are the same, as any additional Common Stock equivalents would be anti-dilutive. September 30, 2017 2016 Common Stock to be issued upon conversion of - 506,666 Common Stock to be issued upon conversion - 2,350,040 Common Stock to be issued upon conversion 2,542,905 - Outstanding warrants 5,011,591 8,660,915 Outstanding options 2,319,267 1,915,338 Total potentially dilutive shares of Common Stock 9,873,763 13,432,959

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Note 5 – Stock-Based Compensation: The terms and vesting schedules for share-based awards vary by type of grant and the employment status of the grantee. Generally, the awards vest based upon time-based conditions or achievement of specified goals and milestones. There was no stock option activity under the Company’s 2008 Plan and 1998 Plan for the three months ended September 30, 2017. Total options outstanding at September 30, 2017 were 2,319,267 2.59 2,300,615 As of September 30, 2017, the aggregate intrinsic value of stock options outstanding was $ 0 6.12 5,119,433 Stock-based compensation expense for the three months ended September 30, 2017 and September 30, 2016 was $ 626 8,205 As of September 30, 2017, total stock-based compensation expense not yet recognized related to stock option grants was $ 11,266 14

Notes Payable

Notes Payable	3 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Notes Payable	Note 6 – Notes Payable: On July 28, 2017, the Company received gross proceeds of $ 1,500,000 10,000,000 0.15 The sale of Common Stock to OPKO triggered the mandatory conversion feature in the Company’s outstanding convertible promissory notes (the “Convertible Notes”), such that all of the Convertible Notes became mandatorily convertible on July 28, 2017. The Company recorded a loss of $ 512,104 1,000,000 A portion of the Convertible Notes with principal amount of $ 750,000 20,490 7,704,903 The remaining Convertible Notes, with principal amount of $ 250,000 4,290 2,542,905 2,542,905

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 7 – Income Taxes: The deferred tax liability in the amount of $ 2,200,000 No current provision for income taxes has been made for the three months ended September 30, 2017 and 2016, respectively, given the Company’s losses in 2017 and 2016 and available net operating loss carryforwards. A benefit has not been recorded as the realization of the net operating losses is not assured and the timing in which the Company can utilize its net operating loss carryforwards in any year or in total may be limited by provisions of the Internal Revenue Code of 1986 regarding changes in ownership of corporations.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8 - Fair Value Measurements: Carrying Fair Value Measurement at Sept 30, 2017 Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 957,874 $ 957,874 $ - $ - Carrying Fair Value Measurement at June 30, 2017 Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 33,198 $ 33,198 $ - $ - Derivative Liability $ 1,844,974 $ - $ - $ 1,844,974 For the quarter ended September 30, 2017 Beginning Balance $ 1,844,974 Change in fair value of derivative liability 72,672 Conversion to common stock (1,917,646) Ending Balance $ -

Preferred Stock

Preferred Stock	3 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Preferred Stock	Note 9 – Preferred Stock: Series A: On July 1, 2017, a holder of the Company’s outstanding Series A Preferred Stock exchanged 200 800,000 0.25 On August 11, 2017, pursuant to a Preferred Stock Exchange Agreement, the Company and the holder of the Company’s then outstanding 70 shares of Series A Preferred Stock agreed to amend the exchange price of the Series A Preferred Stock from $ 0.25 0.10 114,268 On August 24, 2017, a holder of the Company’s remaining outstanding Series A Preferred Stock exchanged 70 700,000 0.10 Series C: During the three months ended September 30, 2017, 158,336 2,968,800 18.75

Gain on Sale of Patents

Gain on Sale of Patents	3 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Gain on Sale of Patents	Note 10 – Gain on Sale of Patents: On September 8, 2015, the Company entered into an agreement to sell certain Intellectual Property consisting of patents, patent applications and license agreements related to those patents and patent applications. The Company is not actively developing any program related to the Intellectual Property included in the agreement. On July 19, 2016, the transaction closed and the Company received $ 50,000 19.9 99,728 The stock received has been recorded under the cost method of accounting. It was determined that the fair value of the Intellectual Property sold and the equity received were $ 0 149,728

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 11 – Recent Accounting Pronouncements: From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption. In May 2014, the FASB issued Accounting Standards Update (“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. 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, 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). The Company is in the process of evaluating the effect of adoption. 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 has adopted this standard and there was no material impact on the consolidated 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 is in the process of evaluating the effect of adoption. 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. The Company has adopted this standard and there was no material impact on the consolidated financial statements. The Company continues to use the actual average forfeiture rate over the preceding five years for reporting purposes. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments, which addresses the presentation and classification of certain cash receipts and cash payments in the statement of cash flows under Accounting Standards Codification 230. The standard is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those fiscal years. Early application is permitted. The Company does not anticipate that the adoption of this standard will have a material impact on the Company’s financial statements. In July 2017, the FASB issued ASU No. 2017-11, which amends the FASB Accounting Standards Codification. Part I of ASU No. 2017-11, Accounting for Certain Financial Instruments with Down Round Features, changes the classification analysis of certain equity-linked financial instruments (or embedded features) with down round features. The guidance is effective for reporting periods beginning after December 15, 2019 and interim periods within those fiscal years. The Company is in the process of evaluating the impact of adoption of this guidance on its consolidated financial statements. The Company has assessed other recently issued accounting pronouncements and has determined that they do not apply.

Subsequent Events

Subsequent Events	3 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Note 12 – Subsequent Events The Company has evaluated for any subsequent events through the date of issuance

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Weighted Average of Dilutive Shares of Common Stock	Potentially dilutive shares of Common Stock have been excluded from the calculation of the weighted average number of dilutive shares of Common Stock as follows: September 30, 2017 2016 Common Stock to be issued upon conversion of - 506,666 Common Stock to be issued upon conversion - 2,350,040 Common Stock to be issued upon conversion 2,542,905 - Outstanding warrants 5,011,591 8,660,915 Outstanding options 2,319,267 1,915,338 Total potentially dilutive shares of Common Stock 9,873,763 13,432,959

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Assets and Liabilities Carried at Fair Value Measured on Recurring Basis	The following tables provide the assets and liabilities carried at fair value measured on a recurring basis as of September 30, 2017 and June 30, 2017: Carrying Fair Value Measurement at Sept 30, 2017 Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 957,874 $ 957,874 $ - $ - Carrying Fair Value Measurement at June 30, 2017 Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 33,198 $ 33,198 $ - $ - Derivative Liability $ 1,844,974 $ - $ - $ 1,844,974
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 investments: For the quarter ended September 30, 2017 Beginning Balance $ 1,844,974 Change in fair value of derivative liability 72,672 Conversion to common stock (1,917,646) Ending Balance $ -

Liquidity - Additional Informat

Liquidity - Additional Information (Detail) - USD ($)	Sep. 30, 2017	Jun. 30, 2017	May 31, 2017	Sep. 30, 2016	Jun. 30, 2016
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 957,874	$ 33,198		$ 287,064	$ 810,808
Development Stage Enterprise Deficit Accumulated During Development Stages	$ 123,205,572
Cost Method Investments			$ 12,000,000

Intangibles - Additional Inform

Intangibles - Additional Information (Detail) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Finite-Lived Intangible Assets [Line Items]
Impairment of Intangible Assets (Excluding Goodwill)	$ 0	$ 1,600,000

Calculation of Weighted Average

Calculation of Weighted Average Number of Dilutive Shares of Common Stock (Detail) - shares	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Summary Of Significant Accounting Policies [Line Items]
Common Stock to be issued upon conversion of convertible preferred stock	9,873,763	13,432,959
Outstanding options
Summary Of Significant Accounting Policies [Line Items]
Common Stock to be issued upon conversion of convertible preferred stock	2,319,267	1,915,338
Common Stock to be issued upon conversion of notes payable and accrued interest
Summary Of Significant Accounting Policies [Line Items]
Common Stock to be issued upon conversion of convertible preferred stock	2,542,905	0
Series A Preferred stock
Summary Of Significant Accounting Policies [Line Items]
Common Stock to be issued upon conversion of convertible preferred stock	0	506,666
Series C Preferred Stock
Summary Of Significant Accounting Policies [Line Items]
Common Stock to be issued upon conversion of convertible preferred stock	0	2,350,040
Outstanding warrants
Summary Of Significant Accounting Policies [Line Items]
Common Stock to be issued upon conversion of convertible preferred stock	5,011,591	8,660,915

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option outstanding intrinsic value	$ 0
Option outstanding weighted average remaining term	6 years 1 month 13 days
Shares available for future stock option grant	5,119,433
Stock based compensation	$ 626	$ 8,205
Stock based compensation expense related to stock options, not yet recognized, period of recognition	14 months
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 11,266
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	2,319,267
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 2.59
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	2,300,615

Notes Payable - Additional Info

Notes Payable - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Jul. 28, 2017	Sep. 30, 2017	Jun. 30, 2017
Debt Instrument [Line Items]
Share Price	$ 0.15
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	$ 512,104	$ (512,104)	$ 0
Debt Instrument, Periodic Payment		$ 1,000,000
Common Stock [Member]
Debt Instrument [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities		4,468,800
Stock Issued During Period, Shares, New Issues		10,000,000
Convertible Notes Payable [Member] | Common Stock [Member]
Debt Instrument [Line Items]
Stock Issued During Period, Shares, New Issues	10,000,000
Convertible Notes Payable One [Member]
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment, Principal		$ 750,000
Debt Instrument, Periodic Payment, Interest		$ 20,490
Stock Issued During Period, Shares, Conversion of Convertible Securities		7,704,903
Convertible Notes Payable Two [Member]
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment, Principal		$ 250,000
Debt Instrument, Periodic Payment, Interest		$ 4,290
Conversion of Stock, Shares Converted		2,542,905
Conversion of Stock, Shares Issued		2,542,905
OPKO Health, Inc [Member] | Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,500,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Income Tax [Line Items]
Deferred Tax Liabilities, Net	$ 2,200,000	$ 2,200,000

Assets and Liabilities at Fair

Assets and Liabilities at Fair Value Measured on Recurring Basis (Detail) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant Liabilities	$ 0	$ 1,844,974
Fair Value Measurements Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	957,874	33,198
Warrant Liabilities		1,844,974
Level 1 | Fair Value Measurements Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, Fair Value	957,874	33,198
Warrant Liabilities		0
Level 2 | Fair Value Measurements Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, Fair Value	0	0
Warrant Liabilities		0
Level 3 | Fair Value Measurements Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, Fair Value	$ 0	0
Warrant Liabilities		$ 1,844,974

Changes in Fair Value of the Co

Changes in Fair Value of the Company's Financial Instruments (Detail)	3 Months Ended
	Sep. 30, 2017USD ($)
Beginning Balance	$ 1,844,974
Change in fair value of derivative liability	72,672
Conversion to common stock	(1,917,646)
Ending Balance	$ 0

Preferred Stock - Additional In

Preferred Stock - Additional Information (Detail) - USD ($)	Aug. 11, 2017	Jul. 03, 2017	Aug. 24, 2017	Sep. 30, 2017
Dividends, Preferred Stock	$ 114,268
Common Stock [Member]
Convertible Preferred Stock, Shares Issued upon Conversion				2,968,800
Conversion of Stock, New Issuance		800,000	700,000
Maximum [Member]
Convertible Preferred Stock Exchange, Conversion Price	$ 0.25
Minimum [Member]
Convertible Preferred Stock Exchange, Conversion Price	$ 0.10
Series A Preferred Stock [Member]
Conversion of Stock, Shares Converted		200	70
Preferred Stock conversion Price Per Share		$ 0.25	$ 0.10
Series C Preferred Stock [Member]
Convertible Preferred Stock, Shares Issued upon Conversion				18.75
Conversion of Stock, Shares Converted				158,336

Gain on Sale of Patents - Addit

Gain on Sale of Patents - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Jul. 19, 2016	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Proceeds from Sale of Intangible Assets		$ 0	$ 50,000
Business Acquisition, Percentage of Voting Interests Acquired	19.90%
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	$ 99,728
Gain (Loss) on Disposition of Intangible Assets		$ 0	149,728	$ 149,728
Intellectual Property [Member]
Proceeds from Sale of Intangible Assets	$ 50,000
Finite-lived Intangible Assets, Fair Value Disclosure			0
Gain (Loss) on Disposition of Intangible Assets			$ 149,728