Applied Genetic Technologies (AGTC) 10-K 27 Sep 22 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Sep. 21, 2022	Dec. 31, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	APPLIED GENETIC TECHNOLOGIES CORPORATION
Entity Central Index Key	0001273636
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity File Number	001-36370
Entity Tax Identification Number	59-3553710
Trading Symbol	AGTC
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	14193 NW 119th Terrace, Suite 10
Entity Address, City or Town	Alachua
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32615
City Area Code	386
Local Phone Number	462-2204
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity Public Float			$ 81.3
Entity Common Stock, Shares Outstanding		67,632,195
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Tampa, Florida

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Current assets:
Cash and cash equivalents	$ 46,366	$ 105,052
Investments		2,000
Prepaid and other current assets	3,195	2,655
Total current assets	49,561	109,707
Property and equipment, net	4,714	4,658
Intangible assets, net	1,433	1,287
Investment in Bionic Sight (see Note 8)	7,807	8,000
Right-of-use assets - operating leases	3,043	3,167
Right-of-use asset - financing lease		34
Other assets	126	113
Total assets	66,684	126,966
Current liabilities:
Accounts payable	2,911	1,879
Accrued and other liabilities	11,727	14,500
Lease liabilities - operating	1,271	1,116
Lease liability - finance		38
Current portion of long-term debt	9,298	2,181
Total current liabilities	25,207	19,714
Lease liabilities - operating, net of current portion	2,780	3,418
Long-term debt, net of debt discounts and deferred financing fees	9,122	17,727
Other liabilities	98	299
Total liabilities	37,207	41,158
Stockholders' equity:
Preferred stock, par value $0.001 per share, 5,000 shares authorized; no shares issued and outstanding
Common stock, par value $0.001 per share, 150,000 shares authorized; 51,011 and 42,835 shares issued; 50,957 and 42,794 shares outstanding at June 30, 2022 and 2021, respectively	51	43
Additional paid-in capital	337,894	325,245
Treasury stock at cost; 54 and 41 shares at June 30, 2022 and 2021, respectively	(256)	(211)
Accumulated deficit	(308,212)	(239,269)
Total stockholders' equity	29,477	85,808
Total liabilities and stockholders' equity	$ 66,684	$ 126,966

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Jun. 30, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	51,010,648	42,835,000
Common stock, shares outstanding	50,957,028	42,794,000
Treasury stock, shares held	54,000	41,000

Statements of Operations

Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Revenue:
Total revenue	$ 325	$ 500
Operating expenses:
Research and development	49,515	44,400
General and administrative and other	16,985	14,551
Total operating expenses	66,500	58,951
Loss from operations	(66,175)	(58,451)
Other income (expense), net:
Investment income, net	99	116
Interest expense	(2,674)	(1,506)
Total other income (expense), net	(2,575)	(1,390)
Loss before benefit from income taxes	(68,750)	(59,841)
Benefit from income taxes	0	(2,108)
Loss before equity in net losses of an affiliate	(68,750)	(57,733)
Equity in net losses of an affiliate	(193)	(96)
Net loss	$ (68,943)	$ (57,829)
Weighted average shares outstanding:
Basic	45,031	32,756
Diluted	45,031	32,756
Net loss per common share:
Basic	$ (1.53)	$ (1.77)
Diluted	$ (1.53)	$ (1.77)
License Fee Revenue [Member]
Revenue:
Total revenue		$ 500
Other [Member]
Revenue:
Total revenue	$ 325

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Beginning balance at Jun. 30, 2020	$ 71,016	$ 25	$ (88)	$ 252,519	$ (181,440)
Beginning balance, shares at Jun. 30, 2020		25,793,000	20,000
Issuance of common stock and accompanying warrants, net of issuance costs	69,261	$ 17		69,244
Issuance of common stock and accompanying warrants, net of issuance costs, shares		16,742,000
Share-based compensation expense	2,678			2,678
Shares issued under employee plans and related share repurchases	682	$ 1	$ (123)	804
Shares issued under employee plans and related share repurchases shares		259,000	21,000
Net loss	(57,829)				(57,829)
Ending balance at Jun. 30, 2021	85,808	$ 43	$ (211)	325,245	(239,269)
Ending balance, shares at Jun. 30, 2021		42,794,000	41,000
Issuance of common stock, net of issuance costs	9,099	$ 8		9,091
Number of new stock issued during the period.		7,753,000
Share-based compensation expense	3,425			3,425
Shares issued under employee plans and related share repurchases	88		$ (45)	133
Shares issued under employee plans and related share repurchases shares		410,000	13,000
Net loss	(68,943)				(68,943)
Ending balance at Jun. 30, 2022	$ 29,477	$ 51	$ (256)	$ 337,894	$ (308,212)
Ending balance, shares at Jun. 30, 2022		50,957,000	54,000

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net loss	$ (68,943)	$ (57,829)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	3,425	2,678
Expense for shares of common stock issued to a vendor	32
Depreciation and amortization	1,512	1,460
Investment discount accretion, net		(13)
Amortization of debt discounts and deferred financing fees	693	381
Reduction in the carrying amount of operating lease right-of-use assets	524	366
Income tax benefit from the reversal of uncertain tax position liabilities		(2,171)
Equity in net losses of an affiliate	193	96
Changes in operating assets and liabilities:
Prepaid and other assets	(553)	311
Accounts payable	991	497
Operating lease liabilities	(883)	(705)
Accrued and other liabilities	(2,739)	3,756
Cash used in operating activities	(65,748)	(51,173)
Investing activities:
Purchases of property and equipment	(1,670)	(1,457)
Purchases of and capitalized costs related to intangible assets	(344)	(404)
Maturities of investments	2,000	61,000
Purchases of investments		(20,992)
Cash provided by (used in) investing activities	(14)	38,147
Financing activities:
Proceeds from the issuance of common stock and accompanying warrants, net of issuance costs	9,207	69,261
Proceeds from exercises of common stock options	133	804
Proceeds from long-term debt borrowing, net of debt discounts		9,850
Payments for deferred financing fees		(129)
Principal payments on long-term debt	(2,181)
Taxes paid related to equity awards	(45)	(123)
Principal payments on finance lease	(38)	(48)
Cash provided by financing activities	7,076	79,615
Net increase (decrease) in cash and cash equivalents	(58,686)	66,589
Cash and cash equivalents, beginning of the year	105,052	38,463
Cash and cash equivalents, end of the year	46,366	105,052
Supplemental information:
Cash paid (refunds received) during the year for income taxes, net		(396)
Cash paid during the year for interest	1,977	1,346
Costs for purchases of property and equipment included in accounts payable/accrued and other liabilities	107	448
Costs for intangible assets included in accounts payable/accrued and other liabilities	$ 34	$ 27

Organization and Operations

Organization and Operations	12 Months Ended
	Jun. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Operations	1. Organization and Operations General Applied Genetic Technologies Corporation (the “Company” or “AGTC”) was incorporated as a Florida corporation on January 19, 1999 and reincorporated as a Delaware corporation on October 24, 2003. The Company is a clinical-stage biotechnology company that uses a proprietary gene therapy platform to develop transformational genetic therapies for people suffering from rare and debilitating ophthalmic, otologic and central nervous system diseases. The Company has devoted substantially all of its efforts to research and development activities, including conducting clinical trials for its product candidates, and has not completed the development of any products. The Company has generated revenue from collaboration agreements, licensing of its intellectual property, sponsored research agreements and grants, but has not generated product revenue to date and is subject to a number of risks similar to those of other early stage companies in the biotechnology industry, including dependence on key individuals, the need to obtain additional capital necessary to fund the development of its product candidates, the risk of failure of ongoing or future clinical studies, the difficulties inherent in the development of commercially viable products, the development by the Company or its competitors of technological innovations, the protection of proprietary technology, compliance with government regulations and the ability to transition to large-scale production of products. Liquidity and Financial Condition As of June 30, 2022, the Company had (i) an accumulated deficit of $308.2 million and (ii) cash and cash equivalents of $46.4 million. As described in Note 15 to these Notes to Financial Statements, the Company received net proceeds of approximately $9.0 million from an underwritten public offering that was completed subsequent to June 30, 2022. Management believes that there is presently insufficient funding available to allow the Company to generate data from its ongoing and planned clinical programs and fund currently planned research and discovery programs for a period exceeding one year from the date of this filing with the Securities and Exchange Commission. While the Company expects to generate some revenue from collaborations, sponsored research agreements, grants and licensing of its intellectual property, management believes that the Company will incur losses and generate negative operating cash flows for the foreseeable future. As such, these circumstances collectively raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying Financial Statements do not include any adjustments that might result from the outcome of this uncertainty. The Company has funded its operations to date primarily through public offerings of its common stock and warrants to purchase its common stock, private placements of its preferred stock, collateralized borrowing and collaborations. The ability of an entity to continue as a going concern depends on, among other things, positive cash flows and the availability of suitable financing. The Company’s future liquidity needs will be primarily based on: (i) the success and progression of its product candidates; (ii) its repayment obligations under the long-term debt agreement that is described in Note 7 to these Notes to Financial Statements; and (iii) its costs to operate the leased build-to-suit manufacturing and quality control facility that is described in Note 3 to these Notes to Financial Statements. To provide the maximum degree of financial flexibility and mitigate the abovementioned going concern risk, management’s near-term plans consider various potential opportunities to fund the Company’s future operations and/or modulate its liquidity needs, such as: (i) seeking various strategic transactions, including a merger, that provide funding for the Company’s programs; (ii) entering into one or more collaborations to offset the costs of the leased manufacturing and quality control facility through third-party cash milestone and other payments; (iii) reducing expenditures on research and development activities and/or restructuring the Company’s operations; and (iv) raising new capital through equity or debt financings or other sources. However, management may be unable to successfully execute any of the plans described above, raise additional funds or enter into such other arrangements when needed on favorable terms, or at all. Additionally, the Company’s ability to raise capital is limited by the significant decline in its market capitalization and current market conditions.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of presentation The accompanying financial statements have been prepared assuming that the Company will continue as a going concern and in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). The Company’s fiscal year ends on June 30. Segment reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker when making decisions regarding resource allocation and assessing performance. To date, management has viewed the Company’s operations and managed its business as one segment. Use of estimates The preparation of financial statements in conformity with U.S. GAAP and guidelines from the Securities and Exchange Commission (the “SEC”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during reporting periods. Actual results could differ from those estimates. Cash and cash equivalents Cash consists of funds held in bank accounts. Cash equivalents consist of short-term, highly liquid investments with original maturities of 90 days or less at the time of purchase and generally include money market accounts. Investments The Company’s investments have historically consisted of certificates of deposit and debt securities classified as held-to-maturity. held-to-maturity maturity. Held-to-maturity held-to-maturity The Company uses the specific identification method to determine the cost basis of securities sold. Prior to July 1, 2021, investments were considered to be impaired when a decline in fair value was judged to be other-than-temporary. The Company evaluated an investment for impairment by considering the length of time and extent to which market value had been less than cost or amortized cost, the financial condition and near-term prospects of the issuer, as well as specific events or circumstances that could have influenced the operations of the issuer, and the Company’s intent to sell the security or the likelihood that it would have been required to sell the security before recovery of its amortized cost. Once a decline in fair value had been determined to be other-than-temporary, an impairment charge was recorded to investment income, net and a new cost basis in the investment was established . As discussed below under the heading “New accounting pronouncements,” effective July 1, 2021, the Company adopted Accounting Standards Update No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new standard replaced the “incurred loss” model with an “expected credit loss” model for certain investments, thereby requiring entities to consider a broader range of information to estimate expected credit losses over the lifetime of a financial asset that is recorded on an amortized cost basis, including held-to-maturity debt securities. When an impairment is identified, the Company estimates the aggregate losses to be incurred over the life of the held-to-maturity debt security and records an allowance with a corresponding charge to investment income, net. Concentrations of Credit Risk As of June 30, 2022, the Company’s cash and cash equivalents were held on deposit with a financial institution that is federally insured. However, a large portion of those cash and cash equivalents exceed federally insured limits and, as a result, could potentially expose the Company to significant concentrations of credit risk. To date, the Company has not experienced any losses associated with this credit risk and management continues to believe that this exposure is not significant. The Company invests its excess cash primarily in money market funds, certificates of deposit, and debt instruments of corporations and U.S. government agencies. These investments generally mature within one-year Inventory Purchases of clinical materials stored for master and working viral banks that remain at the sites in anticipation of their future use at that site are charged to expense when the related liability is incurred. Because the Company can generally use each of the raw materials in only a single product, each raw material is deemed to have no future economic value independent of the development status of that unique drug. Fair value of financial instruments The Company is required to disclose information regarding all assets and liabilities reported at fair value that enables an assessment of the inputs used when determining the reported fair values. Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2—Valuations based on quoted prices for similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 3—Valuations that require inputs that reflect the Company’s own assumptions that are both significant to the fair value measurement and unobservable. To the extent that a valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company when determining fair value is greatest for financial instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Property and equipment Property and equipment, which consists of laboratory equipment, furniture and fixtures, computer equipment and leasehold improvements, is recorded at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful life of the underlying asset, which is generally for most assets. Leasehold improvements are amortized over the shorter of the estimated useful life of the underlying asset or the related lease term, including any renewal periods that are deemed to be reasonably assured. As of June 30, 2022, the weighted average useful life of the Company’s property and equipment was years. Repair and maintenance costs that do not improve service potential or extend an asset’s economic life are recorded as an expense when incurred. Leases The Company follows the provisions of ASC Topic 842, Leases right-of-use right-of-use The Company does not record a right-of-use asset a right-of-use asset Right-of-use direct costs incurred by the Company and lease payments made to a lessor on or before the related lease commencement date, less any lease incentives received directly from the lessor. When it is reasonably certain that the Company will exercise a renewal option or termination provision for one of its leases, the present value of the lease payments for the affected lease is adjusted accordingly. Variable lease payments that are not dependent on an index or a rate are excluded from the determination of the Company’s right-of-use assets and lease liabilities, and such payments are recognized as expense in the period that the related obligation is incurred. As the Company’s leases do not provide readily determinable implicit interest rates, an incremental borrowing rate commensurate with a lease’s term is used to discount future lease payments. The Company’s operating leases include rent escalation clauses that are factored into the determination of future lease payments when appropriate. The Company does not separate lease and nonlease components of its contracts when applying the provisions of Topic 842. The Company’s leases are further discussed at Note 3 in these Notes to Financial Statements. Intangible assets Intangible assets primarily consist of licenses and patents. The Company obtains licenses from third parties and capitalizes the costs related to exclusive licenses that have alternative future use in multiple existing and/or potential programs. The Company also capitalizes costs related to filing, issuance and prosecution of its patents. The Company reviews its capitalized costs periodically to determine that such costs relate to patent applications that have future value and an alternative future use. The Company writes off costs associated with patents that are no longer being actively pursued or provide no future benefit. Amortization expense for intangible assets is computed using the straight-line method over the estimated useful life of the underlying asset, which is generally eight years as of June 30, 2022). The Company amortizes (i) in-licensed expensed. Impairment of long-lived assets The Company reviews its long-lived asset groups for impairment whenever events or changes in circumstances indicate that the carrying amount Financing fees Financing fees consist of costs, including those for legal services, that are necessary to secure commitments under debt financing arrangements. Those costs are deferred and recognized as interest expense over the period of the related financing arrangement using the effective interest method. If a financing arrangement is terminated or otherwise satisfied, any remaining deferred financing fees are immediately recognized as interest expense. The Company’s financial statements present deferred financing fees as a direct reduction of the carrying amount of the corresponding liability. Revenue recognition The Company follows the provisions of ASC Topic 606, Revenue from Contracts with Customers The Company may enter into collaboration agreements, which are within the scope of Topic 606, where it licenses rights to its technology and certain of its product candidates and performs research and development services for third parties. The terms of these arrangements may include payment of one or more of the following: upfront fees; reimbursement of research and development costs; development, regulatory and commercial milestone payments; and royalties on net sales of licensed products. Under Topic 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. To determine the appropriate amount of revenue to be recognized for arrangements determined to be within the scope of Topic 606, the Company performs the following five steps: (i) identification of the contract; (ii) determination of whether the promised goods or services are performance obligations; (iii) measurement of the transaction price, including any constraints on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts if it is probable that it will collect consideration that the Company is entitled to in exchange for the goods or services it transfers to the customer. Performance obligations are promises to transfer distinct goods or services to a customer. Promised goods or services are considered distinct when (i) the customer can benefit from the good or service on its own or together with other readily available resources and (ii) the promised good or service is separately identifiable from other promises in the contract. When assessing whether promised goods or services are distinct, the Company considers factors such as the stage of development of the underlying intellectual property, the capabilities of a customer to develop the intellectual property on its own or whether the required expertise is readily available. The Company estimates the transaction price based on the amount expected to be received for transferring the promised goods or services in the contract. The consideration may include both fixed consideration and variable consideration. At the inception of an arrangement that includes variable consideration and at the end of each reporting period, the Company evaluates the amount of potential customer payments and the likelihood that such payments will be received. The Company utilizes either the most likely amount method or the expected amount method to estimate the amount to be received based on which method better predicts the amount expected to be received. If it is probable that a significant revenue reversal would not occur, the variable consideration is included in the transaction price. The Company will assess its revenue generating arrangements to determine whether a significant financing component exists and conclude that a significant financing component does not exist in an arrangement if the: (a) promised consideration approximates the cash selling price of the promised goods and services or any significant difference is due to factors other than financing; and (b) timing of payment approximates the transfer of goods and services and performance is over a relatively short period of time within the context of the entire term of the contract. The Company’s contracts often include development and regulatory milestone payments. At contract inception, the Company evaluates whether any such milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the Company’s control or the customer’s control, such as regulatory approvals, are not included in the transaction price. At the end of each subsequent reporting period, the Company reevaluates the probability of achievement of such development milestones and any related constraint and, if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, For arrangements that may include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (i) when the related sale occurs or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). To date, the Company has not recognized any royalty revenue resulting from any of the Company’s collaboration arrangements. The Company allocates the transaction price based on the estimated stand-alone selling price of the underlying performance obligation or, in the case of certain variable consideration, to one or more performance obligations. The Company uses assumptions that require judgment to determine the stand-alone selling price for each performance obligation identified in a contract. The Company utilizes key assumptions to determine the stand-alone selling price, which may include other comparable transactions, pricing considered in negotiating the transaction and the estimated costs to complete the related performance obligation. Certain variable consideration is allocated specifically to one or more performance obligation in a contract when the terms of the variable consideration relate to the satisfaction of a performance obligation and the resulting amounts allocated to each performance obligation are consistent with the amounts the Company would expect to receive for each performance obligation. For performance obligations consisting of licenses and other promises, the Company uses judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for the purpose of recognizing revenue from upfront fees. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company will recognize revenue from upfront fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. The Company receives payments from its customers based on billing terms established in each contract. Such billings generally have 30-day payment receipt or when due until the Company performs its obligations under those arrangements. Amounts are recorded as accounts receivable when the right to consideration is unconditional. Collaboration arrangements The Company analyzes its collaboration arrangements to assess whether they are within the scope of ASC Topic 808, Collaborative Arrangements The Company’s collaboration arrangements are further discussed at Note 8 in these Notes to Financial Statements. Income taxes The Company uses the asset and liability method to account for income taxes. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in the years in which those temporary differences are projected to be recovered or settled. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, The Company’s income taxes are further discussed at Note 10 in these Notes to Financial Statements. Research and development expenses Research and development expenses include costs incurred to identify, develop and test product candidates and are generally comprised of compensation and related benefits and non-cash share-based As part of the process of preparing the Company’s financial statements, estimates of accrued expenses are necessary. The estimation process involves reviewing quotations and contracts, identifying services that have been performed on the Company’s behalf, and determining the level of services performed and associated costs incurred for services for which the Company has not yet been invoiced or otherwise notified of the actual cost. The majority of the Company’s service providers invoice monthly in arrears for services performed or when contractual milestones are met. Management estimates the Company’s accrued expenses at the end of each reporting period based on the facts and circumstances known at that time. As a result, estimates recorded in the Company’s financial statements and disclosed in the accompanying notes may change in the future and such changes in estimates, if any, will be recorded in the Company’s operating results in the period they are identified by management. The significant estimates in the Company’s accrued research and development expenses primarily relate to expenses incurred with respect to academic research centers, contract research organizations and other vendors in connection with research and development activities for which the Company has not yet been invoiced. There are instances where the Company’s service providers require advance payments at the inception of a contract and other circumstances where the Company’s payments to a vendor will exceed the level of services provided, in both cases resulting in a prepayment of research and development expenses. Such prepayments are charged to research and development expense as and when the service is provided or when a specific milestone outlined in the contract is reached. Prepayments related to research and development activities were $1.3 million and $0.9 million at June 30, 2022 and 2021, respectively, and are included in prepaid and other current assets on the Company’s balance sheets. Share-based compensation The Company accounts for share-based awards issued to employees in accordance with ASC Topic 718, Compensation—Stock Compensation, For purposes of calculating share-based compensation expense, the Company estimates the fair value of stock options using a Black-Scholes option-pricing model. The determination of the fair value of a share-based compensation award utilizing the Black-Scholes model is affected by the Company’s stock price and a number of assumptions, including the expected volatility of the Company’s stock, the expected life of the stock option, the risk-free interest rate and expected dividends. Additionally, the Company uses a Monte Carlo simulation model to determine the fair value of restricted stock units with market-based vesting conditions for purposes of calculating share-based compensation expense. The Monte Carlo simulation model incorporates the probability of satisfying a market condition and uses transaction details such as the Company’s stock price, contractual terms, maturity and risk-free interest rates, as well as volatility. The fair value of restricted stock units with no performance or market vesting conditions is based on the market value of the Company’s common stock on the date of grant. If factors change and the Company employs different assumptions, share-based compensation expense may differ significantly from what has been recorded in the past. If there is a difference between the assumptions used in determining share-based compensation expense and the actual factors that become known over time, specifically with respect to anticipated forfeitures, the Company may change the input factors used in determining share-based compensation costs for future awards. These changes, if any, may materially impact the Company’s results of operations in the period that such changes are made. Net income or loss per share Basic net income or loss per share is calculated by dividing net income or loss by the weighted average shares outstanding during the period, without consideration of common stock equivalents. Diluted net income or loss per share is calculated by adjusting the weighted average shares outstanding for the dilutive effects of common stock equivalents outstanding during the period, determined using the treasury stock method. For purposes of diluted net income or loss per share calculations, warrants to purchase the Company’s common stock, stock options, restricted stock awards, restricted stock units and performance service awards are considered to be common stock equivalents if they are dilutive. The dilutive impact of common stock equivalents for the years ended June 30, 2022 and 2021 was approximatel y 0.1 million and 0.4 million shares, respectively. However, those common stock equivalents were excluded from the calculations of diluted net loss per share for each of the years ended June 30, 2022 and 2021 because their effects were anti-dilutive. Common stock equivalents for the years ended June 30, 2022 and 2021 excluded certain warrants to purchase the Company’s common stock, which are described at Note 13 to these Notes to Financial Statements, because the exercise price of such warrants was greater than the average market price of the Company’s common stock during the related periods. Comprehensive loss Comprehensive income or loss consists of net income or loss and changes in equity during a period from transactions and other equity and circumstances generated from non-owner sources. New accounting pronouncements Adopted during the year ended June 30, 2022 Financial Instruments—Credit Losses In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Investments – Equity Securities, Investments – Equity Method and Joint Ventures, and Derivatives and Hedging In January 2020, the FASB issued ASU No. 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 Financial Instruments

Leases

Leases	12 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	3. Leases The Company leases certain laboratory and office space under operating leases, which are described below. Additionally, as discussed below under the heading “Build-To-Suit Manufacturing Facility in Alachua, Florida The Company’s headquarters are located in Alachua, Florida where it leases approximately 23,600 square feet of office, laboratory and storage space under a lease arrangement that expires in December 2027. The Company has options to extend the term of the Alachua lease for three additional five-year periods. Cambridge, Massachusetts The Company leases approximately 8,000 square feet of office and laboratory space in Cambridge, Massachusetts under a lease arrangement that expires in February 2025. The Company has an option to extend the Cambridge lease for one additional three-year term. The Cambridge facility primarily focuses on business development, pharmacology and basic research and development. Other The Company has three small real property leases (each of three years or less in duration) to facilitate and streamline its ongoing clinical trials. Through March 2022, the Company also leased certain office equipment under a finance lease. Historical lease costs and other The table below summarizes lease costs and other information pertaining to the Company’s operating and finance leases for the years indicated. Year Ended June 30, In thousands 2022 2021 Lease cost: Finance lease cost Amortization of right-of-use $ 34 $ 46 Interest on lease liability 1 5 Operating lease cost 894 779 Short-term lease cost 29 32 Variable lease cost 564 409 Total lease cost $ 1,522 $ 1,271 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for a finance lease $ 1 $ 5 Operating cash flows used for operating leases $ 1,251 $ 1,160 Financing cash flows used for a finance lease $ 38 $ 48 Right-of-use (non-cash) $ 400 $ 111 Other information (as of the end of the year): Weighted average remaining lease term—operating leases (in years) 4.2 5.1 Weighted average remaining lease term—finance lease (in years) — 0.8 Weighted average discount rate—operating leases 8.6 % 8.6 % Weighted average discount rate—finance lease — 6.9 % Amortization of the right-of-use asset—finance lease was included in general and administrative and other in the Company’s Statements of Operations. Operating lease cost and variable lease cost are included as rent expense in general and administrative and other, and research and development in the Company’s Statements of Operations. Variable lease cost primarily includes the Company’s allocated share of the expenses incurred by its landlords to operate and manage the office, laboratory and storage space that the Company leases. Short-term lease cost, which principally pertains to facilities used for clinical trials, is generally classified as a research and development expense. Future lease commitments As of June 30, 2022, future minimum commitments for the Company’s operating leases for the years ending June 30 are summarized below. In thousands 2023 $ 1,333 2024 1,311 2025 939 2026 515 2027 515 Thereafter 215 Total future minimum payments for operating leases 4,828 Imputed interest (777 ) Operating lease liabilities per the balance sheet $ 4,051 In addition to the amounts included in the table above, the Company entered into a long-term real property lease that has not yet commenced and, therefore, is not recorded on the Company’s balance sheets. This lease, as amended, is discussed below under the heading “Build-To-Suit Manufacturing and Quality Control Facility in Alachua, Florida.” Build-To-Suit Manufacturing On May 13, 2021, the Company entered into a non-cancelable long-term a to-be-constructed build-to-suit The lease will commence upon substantial completion of the Premises, including the tenant fit out work, estimated to be completed in the fourth quarter of calendar year 2022 (the “Commencement Date”), and the rent commencement date will occur simultaneous with the Commencement Date. The initial lease term has been extended by the Amendment from 20 years to 20 years and one month from the Commencement Date (the “Term”). As provided by the million (assuming that the Company does not elect its early termination option) during the Term (beginning on the Commencement Date) as set forth below. Lease Months 1 $ — 2-7 $ 743,750 8-19 $ 1,336,625 Base rent shall increase 1.5% each lease year (12-month During the Term, the Company will also pay its share of operating expenses, taxes and any other expenses payable under the lease. The lease includes three extension options of five years each at an annual base rent rate of the greater of a 1.5% increase from the previous year or pursuant to the increase in the Consumer Price Index for the applicable prior year. In addition, the lease provides the Company with a one-time th million. The Company has the further option to expand the facility to double the initial square footage during the first five years of the Term. The lease also includes customary representations, warranties and covenants on behalf of the parties and provides for certain customary mutual indemnities. No security deposit was required upon lease execution, provided that the landlord reserves the right to instate a security deposit if the Company defaults in its lease obligations. In connection with the new leased facility, the Company had financial commitments for equipment and shared building fit out costs aggregating approximately $5.2 account.

Investments and Fair Values of

Investments and Fair Values of Financial Instruments	12 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Investments and Fair Values of Financial Instruments	4. Investments and Fair Values of Financial Instruments Cash in excess of immediate requirements is invested in accordance with the Company’s investment policy, which primarily seeks to maintain adequate liquidity and preserve capital. At June 30, 2021, the Company’s investments consisted of a held-to-maturity debt security that matured in July 2021 (the $ million amortized cost of that investment approximated its fair value on such date). The Company held investments at June 30, 2022. Certain assets and liabilities are measured at fair value in the Company’s financial statements or have fair values disclosed in these Notes to Financial Statements. Such assets and liabilities are classified into one of the three levels of the fair value hierarchy defined by U.S. GAAP. The Company’s assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. The methods and assumptions described below were used to estimate fair values and determine the fair value hierarchy classification of each class of financial instrument held by the Company. Cash and Cash Equivalents. Debt securities—held-to-maturity. held-to-maturity applied. The fair In thousands Level 1 Level 2 Level 3 Total Fair Value June 30, 2022 Cash and cash equivalents $ 46,366 $ — $ — $ 46,366 June 30, 2021 Cash and cash equivalents $ 105,052 $ — $ — $ 105,052 Held-to-maturity 2,000 — — 2,000 Total assets $ 107,052 $ — $ — $ 107,052 The Company’s financial instruments also include its variable-rate borrowing under a debt agreement that is described in Note 7 to these Notes to Financial Statements. Management believes that the carrying amount of such debt (i.e., $18.4 million and $19.9 million at June 30, 2022 and 2021, respectively) reasonably approximates its fair value on those dates because of the relatively short duration of the borrowing arrangement. This assessment primarily uses Level 2 inputs under the fair value hierarchy.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Jun. 30, 2022
Property Plant And Equipment [Abstract]
Property and Equipment, Net	5. Property and Equipment, Net The table below summarizes the Company’s property and equipment, net as of the dates indicated. June 30, In thousands 2022 2021 Laboratory equipment $ 6,422 $ 5,822 Leasehold improvements 3,886 3,881 Office equipment and furniture 907 845 Equipment designated for future use 661 — Property and equipment, gross 11,876 10,548 Accumulated depreciation and amortization (7,162 ) (5,890 ) Property and equipment, net $ 4,714 $ 4,658 All of the Company’s property and equipment is located in the United States. The Company recognized depreciation and amortization expense of $1.3 million during each of the years ended June 30, 2022 and 2021, including $0.5 million of amortization expense for leasehold improvements during each year. Equipment designated for future use, which is not being depreciated or amortized, is primarily for use at the Company’s leased build-to-suit

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Jun. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	6. Intangible Assets, Net The tables below summarize the Company’s intangible assets, net as of the dates indicated. June 30, 2022 In thousands Cost Accumulated Amortization Intangible Patents $ 3,334 $ (1,974 ) $ 1,360 Licenses 289 (244 ) 45 Other 66 (38 ) 28 Totals $ 3,689 $ (2,256 ) $ 1,433 June 30, 2021 In thousands Cost Accumulated Amortization Intangible Patents $ 3,001 $ (1,809 ) $ 1,192 Licenses 289 (229 ) 60 Other 66 (31 ) 35 Totals $ 3,356 $ (2,069 ) $ 1,287 The Company recognized amortization expense related to intangible assets of $205,000 and $182,000 during the years ended June 30, 2022 and 2021, respectively. Estimated amortization expense for the years ending June 30 for the next five years and thereafter is summarized in the table below. In thousands 2023 $ 106 2024 72 2025 62 2026 62 2027 61 Thereafter 1,047 $1,410

Debt

Debt	12 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	7. Debt On June 30, 2020, the Company entered into a Loan and Security Agreement (as subsequently amended, the “Loan Agreement”) with several banks and other financial institutions or entities from time to time parties to the Loan Agreement (collectively, referred to as the “Lenders”) and Hercules Capital, Inc., in its capacity as administrative agent and collateral agent for itself and the Lenders (in such capacity, the “Agent”). The Loan Agreement provides for a term loan in an aggregate principal amount of up to $25.0 million, delivered in multiple tranches (the “Term Loan”). The first tranche consisted of an initial term loan advance of $10.0 million on June 30, 2020 (the “Closing Date”). Thereafter, subject to the Lenders’ investment committee’s sole discretion, the Company had the right to request that the Lenders make additional term loan advances in an aggregate principal amount of up to $15.0 million prior to January 1, 2022. Effective May 13, 2021, the Loan Agreement was amended (the “Amendment”) whereby, among other things, (i) a second term loan advance of $10.0 m million was changed to be prior to April 1, 2022 or, if certain conditions were satisfied, then prior to January 1, 2023. No additional term loan advances were requested by the Company before the expiration of such availability on April 1, 2022. As a result of the Amendment, the Term Loan matures on April 1, 2024 ( the “Term Loan Maturity Date”). In connection with entering into the Loan Agreement, the Company paid an aggregate of $165,000 to the Lenders for an initial facility charge, due diligence fees and reimbursement of legal expenses. Such amount was recorded as either a debt discount or a deferred financing fee, both of which reduce the carrying value of the outstanding Term Loan. Additionally, the Company paid $150,000 of fees to the Lenders to effectuate the Amendment and such amount was recognized as a debt discount. The Term Loan bears interest at a rate equal to the greater of either: (i) the sum of (x) the prime rate as reported in The Wall Street Journal The Company may, at its option, prepay all, but not less than all, of the outstanding Term Loan balance plus all accrued and unpaid interest thereon, together with a prepayment charge equal to (i) 1.0% of the amount so prepaid if such prepayment occurs after 24 months but prior to 36 months from the Closing Date and (ii) zero percent of the amount so prepaid if such prepayment occurs three years or more after the Closing Date. On the earliest to occur of the (i) Term Loan Maturity Date, (ii) date that the Company prepays the outstanding secured payment obligations in full or (iii) date that the secured payment obligations become due and payable, the Company will pay (in addition to any prepayment charge) an end of term charge of 6.95% of the aggregate term loan advances. End of term charges were recorded as discounts to the carrying value of the outstanding Term Loan each time that a term loan advance was received. The Term Loan is secured by substantially all of the Company’s assets, other than its intellectual property. However, the Company has agreed to not pledge or secure its intellectual property to others. In connection with granting security interests in its cash and cash equivalents and investments, the Company was required to enter into certain account control agreements with the Agent regarding future control of the underlying bank and securities accounts. Pursuant to the terms of the account control agreements, the Company’s control of those accounts will not be affected unless the Agent elects to obtain unilateral control by declaring that an event of default under the Loan Agreement has occurred and is continuing. During the term of the Loan Agreement, the Lenders or their assignee or nominee have the right to participate in any equity offerings by the Company that are broadly marketed to multiple investors, in an amount up to $2.0 million, on the same terms, conditions and pricing afforded to other investors participating in any such offering. The Loan Agreement contains customary representations, warranties and both affirmative and negative covenants. Because term loan advances currently exceed $10.0 million, the Loan Agreement requires that the Company maintain minimum unrestricted cash of at least $5.0 million, plus the amount of the Company’s accounts payable not paid after the 120 th Agreement. The Loan Agreement provides for events of default customary for term loans of this type, including, but not limited to, non-payment As of June 30, 2022 and 2021, the carrying value of the Term Loan on the Company’s balance sheets was $18.4 million and $19.9 million, respectively, which consisted of the outstanding principal of such loan and the end of term charge accrual, less unamortized debt discounts and deferred financing fees of $0.8 million and $1.5 million, respectively, that are being amortized to interest expense over the duration of the Loan Agreement using an effective interest method. As of June 30 Future minimum principal payments of the outstanding Term Loan balance, excluding the end of term charges, are as follows: $9.3 million in the year ending June 30, 2023; and $8.5 million in the year ending June 30, 2024.

Collaboration Agreements, Reven

Collaboration Agreements, Revenue and Contract Liabilities	12 Months Ended
	Jun. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Collaboration Agreements, Revenue and Contract Liabilities	8. Collaboration Agreements, Revenue and Contract Liabilities Bionic Sight, Inc. On February 2, 2017, the Company entered into a strategic research and development collaboration agreement with Bionic Sight, LLC (now operating as Bionic Sight, Inc.) (collectively referred to herein as “Bionic Sight”) to develop product candidates for patients with visual deficits and blindness due to retinal disease. Through the AGTC-Bionic Sight collaboration, the companies seek to develop a new optogenetic therapy that leverages AGTC’s deep experience in gene therapy and ophthalmology and Bionic Sight’s innovative neuro-prosthetic device and algorithm for retinal coding. The collaboration agreement grants to AGTC, subject to achievement by Bionic Sight of certain development milestones, an option to exclusively negotiate for a limited period of time to acquire: (i) a majority equity interest in Bionic Sight; (ii) the Bionic Sight assets to which the collaboration agreement relates; or (iii) an exclusive license with respect to the product to which the collaboration agreement relates. Under the agreement, AGTC made an initial $2.0 million payment for an equity interest of approximately 5% in Bionic Sight. During March 2020, the Company’s equity interest in Bionic Sight increased to approximately 15.5% in connection with (i) AGTC’s purchase of additional equity for $4.0 million and (ii) the conversion of certain AGTC-provided research and development support costs and in-kind contributions, additional in-kind contributions Otonomy, Inc. During October 2019, the Company entered into a strategic collaboration agreement with Otonomy, Inc. (“Otonomy”) to co-develop and co-commercialize an product candidate designed to restore hearing in patients with sensorineural hearing loss caused by a mutation in the gap junction protein beta 2 gene – the most common cause of congenital hearing loss. Under the collaboration agreement, the parties began equally sharing the program costs and any proceeds from potential licensing transactions in January 2020 and can include additional genetic hearing loss targets in the future. Effective January 1, 2022, the Otonomy collaboration agreement was amended to increase Otonomy’s responsibility for the overall development and commercialization of the program, which resulted in (i) a reduction in the Company’s share of future product development costs and (ii) the Company’s potential receipt of future payments, and royalties on any product sales in lieu of equal sharing of any potential profits or proceeds related to the program. The Company concluded that the Otonomy collaboration agreement is within the scope of Topic 808, which defines collaborative arrangements and addresses the presentation of transactions between the parties in an entity’s statement of operations and the related disclosures. However, Topic 808 does not provide guidance on the recognition of consideration exchanged or accounting for the obligations that may arise between the parties. The Company concluded that ASC Topic 730, Research and Development, SparingVision SAS Effective April 13, 2021, the Company entered into an agreement that licenses certain of its proprietary technology to SparingVision SAS, a genomic medicine company developing vision-saving treatments for ocular diseases. Under the terms of the agreement, SparingVision SAS received nonexclusive rights to the Company’s proprietary cone-specific promoter technology for use in the development of two non-competing Contract Liabilities and Other Revenue As of June 30, 2022 and 2021, accrued and other liabilities on the Company’s balance sheets included $149,000 and $374,000, respectively, of deferred revenue. In the account balance at June 30, 2021 was $225,000 that was billed to a customer and collected by the Company in July 2021. Management is unable to estimate when the Company will satisfy the performance obligations pertaining to its deferred revenue at June 30, 2022. During the year ended June 30, 2022, the Company recognized revenue of $325,000 from a development and production contract that was completed on behalf of a for-profit

Share-based Compensation Plans

Share-based Compensation Plans	12 Months Ended
	Jun. 30, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Plans	9. Share-Based Compensation Plans The Company uses stock options, performance service awards, restricted stock awards and restricted stock units to provide long-term incentives to its employees, nonemployee directors and certain consultants. The Company has two equity compensation plans under which awards are currently authorized for issuance: the 2013 Employee Stock Purchase Plan and the 2013 Equity and Incentive Plan. No awards have been issued to date under the 2013 Employee Stock Purchase Plan and, as such, all of the 128,571 shares previously authorized under that plan remain available for issuance. As of June 30, 2022, the total number of shares available for issuance under the 2013 Equity and Incentive Plan was 1,592,820. See Note 13 in these Notes to Financial Statements for an increase in the shares available for issuance under such plan subsequent to June 30, 2022. Currently, the Company issues new shares of common stock upon the exercise, release or settlement of share-based compensation awards. The Compensation Committee of the Board of Directors, as the plan administrator, has the authority to select the individuals to whom share-based awards are granted and to determine the terms of each award, including: (i) the number of shares of common stock subject to a stock option or a restricted stock unit award; (ii) the date on which a stock option becomes exercisable; (iii) the option exercise price, which, in the case of incentive stock options, must be at least 100% (110% in the case of incentive stock options granted to a stockholder owning in excess of 10% of the Company’s stock) of the market value of the common stock on the date of grant; (iv) the vesting term; and (v) the duration of an option (which, in the case of incentive stock options, may not exceed ten years). Employee stock options typically vest over a four-year period. Stock Options Information about the Company’s stock options that do not have performance Year Ended June 30, 2022 2021 (In thousands, except per share amounts) Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at the beginning of the year 4,186 $ 7.69 3,846 $ 7.82 Granted 2,641 2.90 1,456 5.15 Exercised (150 ) 0.89 (204 ) 3.94 Forfeited (496 ) 4.13 (794 ) 4.44 Expired (630 ) 10.64 (118 ) 8.99 Outstanding at the end of the year 5,551 $ 5.58 4,186 $ 7.69 Exercisable at the end of the year 2,843 2,866 Weighted average fair value of options granted during the year $ 2.05 $ 3.67 The intrinsic value of stock options exercised during the years ended June 30, 2022 and 2021 was $0.1 million and $0.3 million, respectively. The total fair value of stock options that vested during the years ended June 30, 2022 and 2021 was $2.1 million and $2.3 million, respectively. The table below summarizes information about stock options (i) vested and expected to vest and (ii) exercisable as of June 30, 2022. (In thousands, except per share amounts) Shares Weighted Average Exercise Price Aggregate Intrinsic Value Weighted Average Contractual Life (in years) Vested and expected to vest 5,074 $ 5.82 $ 7 6.69 Exercisable 2,843 7.87 6 4.84 The aggregate intrinsic values presented in the above table were calculated as the difference between the exercise price of the underlying options and the fair value of the Company’s common stock on June 30, 2022 for the options that were in the money. In one-sixth of Subsequent to June 30, 2022, the Company granted 1.2 million new service-only stock options to certain employees, with each such option having an exercise price equal to the closing price of the Company’s common stock on the date of grant. Restricted Stock Units During August 2019, 175,500 restricted stock units with a market-based vesting condition related to the trading price of the Company’s common stock were granted to certain employees under the 2013 Equity and Incentive Plan. Those awards had a weighted average grant date fair value of $2.56. Because the award’s market and service conditions were met, on August 15, 2021 and 2020, 54,500 and 76,500 restricted stock units, respectively, vested and the underlying shares were issued to the grantees. A total of 44,500 restricted stock units were forfeited through August 15, 2021 and, subsequent to that date, no restricted stock units with market-based vesting conditions remain outstanding. The fair value of each restricted stock unit awarded was estimated on the grant date using a Monte Carlo simulation pricing model, which incorporated the probability of satisfying the related market-based vesting condition. From May 2021 to July 2021, the Company granted 579,500 restricted stock units to certain employees under the 2013 Equity and Incentive Plan with a weighted average grant date fair value of $4.16. Those awards generally vest in equal amounts on each of the first and second anniversaries of the date of grant, assuming continuing service by the grantee. As of June 30, 2022, 217,625 and 162,250 restricted stock units have vested and been forfeited, respectively. The fair value of each restricted stock unit awarded was determined based on the market value of the Company’s common stock on the date of grant and the related expense is being recognized using a graded vesting schedule that is aligned with the grantees’ vesting dates. Subsequent to June 30, 2022, the Company granted 0.9 million new restricted stock units to certain employees, with vesting in equal amounts on each of the first and second anniversaries of the date of grant, assuming continuing service by the grantee. General Share-based compensation expense pertaining to stock options awarded to employees, nonemployee directors and consultants totaled $2.3 million and $2.5 million for the years ended June 30, 2022 and 2021, respectively. Share-based compensation expense pertaining to restricted stock units awarded to employees and consultants totaled $1.1 million and $0.2 million for the years ended June 30, 2022 and 2021, respectively. The Year Ended June 30, In thousands 2022 2021 Research and development $ 1,685 $ 1,110 General and administrative and other 1,740 1,568 Totals $ 3,425 $ 2,678 The fair value of each stock option granted is estimated on the date of grant using a Black-Scholes stock option pricing model. Below are the assumptions that were used when estimating fair value for the years indicated. Year Ended June 30, Assumption 2022 2021 Dividend yield 0.00 % 0.00 % Expected term 6.00 to 6.25 years 6.00 to 6.25 years Risk-free interest rate 0.80% to 3.53% 0.30% to 1.08% Expected volatility 82.51 % 82.60 % The dividend yield assumes that the Company will not declare dividends over the lives of the options. Since adopting ASC Topic 718, Compensation—Stock Compensation, Share-Based Payment tax-related Unrecognized share-based compensation cost related to non-vested non-vested years.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes For the year period. Deferred taxes are recognized for temporary differences between the basis of assets and liabilities for financial statement and income tax purposes. The table below summarizes the significant components of the Company’s deferred tax assets (liabilities). June 30, In thousands 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 61,867 $ 44,141 Tax credit carryforwards 38,877 35,563 Share-based compensation 2,866 3,470 Lease liabilities—operating 1,031 1,133 Accruals and other 831 720 Gross deferred tax assets 105,472 85,027 Deferred tax asset valuation allowance (104,513 ) (83,980 ) Total deferred tax assets, net of valuation allowance 959 1,047 Deferred tax liabilities: Right-of-use assets—operating leases (775 ) (791 ) Depreciation and amortization (184 ) (256 ) Total deferred tax liabilities (959 ) (1,047 ) Net deferred tax asset (liability) $ — $ — As of June 30, 2022, the Company had federal and state net operating losses of approximately $24.7 million and $13.1 million (tax effected), respectively, that may be applied against future taxable income and expire in various years ranging from 2023 to 2041 and federal net operating losses of $220.7 million that do not expire. As of June 30, 2022, the Company also had federal and state research and development tax credits of approximately $38.3 million and $0.8 million, respectively, which may provide future tax benefits, and expire in various years ranging from 2027 to 2041. The Company evaluated the positive and negative evidence bearing on the realizability of its deferred tax assets. Based on its history of operating losses, the Company concluded that, as of both June 30, 2022 and 2021, it was more likely than not that the benefits of its deferred tax assets would not be realized. Therefore, any tax benefits to be realized in future years as a result of the utilization of the Company’s net operating loss and tax credit carryforwards, computed based on statutory federal and state rates, were completely offset by valuation allowances on those dates. The Company’s valuation allowances increased by $20.5 million and $19.9 million during the years ended June 30, 2022 and 2021, respectively, primarily due to net increases in federal net operating losses. The items comprising the differences between the U.S. federal statutory income tax rate and the Company’s effective tax rate on the loss before benefit from income taxes for the years indicated are summarized in the table below. Year Ended June 30, 2022 2021 Federal income tax benefit at statutory rate 21 % 21 % State income taxes, net of federal benefit 3 3 Permanent differences- primarily (1 ) — Research and development tax credits 6 8 Reversal of the liability for uncertain tax positions — 4 Other — 1 Change in valuation allowance (29 ) (33 ) Effective income tax rate — % 4 % Under the provisions of the Internal Revenue Code of 1986, as amended (the “Code”), the Company’s net operating loss and tax credit carryforwards are subject to review and possible adjustment by the Internal Revenue Service and state tax authorities. Net operating loss and tax credit carryforwards may become subject to an annual limitation in the event of certain cumulative changes in the ownership interests of significant stockholders over a three-year period in excess of 50%, as defined in Sections 382 and 383 of the Code, respectively, as well as similar state provisions. This circumstance could limit the amount of tax attributes that can be utilized annually to offset future taxable income or tax liabilities. The amount of any annual limitation would be determined based on the value of the Company immediately prior to the ownership change. Since its inception, the Company has completed several financings and sales of its common stock, which have resulted in a change in control as defined by Sections 382 and 383 of the Code. Subsequent ownership changes may further affect such limitations in future years. A full valuation allowance has been provided against the Company’s net operating loss and tax credit carryforwards and, if an adjustment were to be required, such an adjustment would reduce the gross deferred tax assets established for net operating losses and tax credit carryforwards and the related valuation allowance. Through the year ended June 30, 2022, the Company generated research and development tax credits but has not conducted a study to document the qualified activities. Such a study may result in an adjustment to the Company’s research and development tax credit carryforwards; however, until a study is completed and an adjustment, if any, is known, no amounts are being presented as an uncertain tax position as of June 30, 2022 or 2021. A full valuation allowance has been provided against the Company’s research and development tax credit carryforwards and, if an adjustment were to be required, such an adjustment would reduce the gross deferred tax asset established therefor and the related valuation allowance. At both June 30, 2022 and 2021, the Company recorded deferred tax assets for certain awards under its share-based compensation plans that are expected to generate tax deductions in the future. Such deductions will be impacted by, among other things, the market price of the Company’s common stock, expiration dates of the underlying awards and discretionary actions taken by the awardees. As such, it is currently unknown if the Company will realize some or all of the benefits pertaining to the affected deferred tax assets. A full valuation allowance has been provided against the share-based compensation plan deferred tax assets and, if an adjustment were to be required, such an adjustment would reduce the gross deferred tax asset established therefor and the related valuation allowance. The Company files income tax returns in the United States and in various individual states. The Company’s federal and state returns are generally subject to tax examination for the tax years ended June 30, 2019 through June 30, 2022. To the extent that 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 authorities if such attributes are utilized by the Company in a future period. The Company recognizes a tax benefit from an uncertain tax position when it is more likely than not that the position will be sustained upon examination. The table below is a reconciliation of the beginning and ending amounts of the Company’s gross unrecognized tax benefits for certain state tax matters, excluding interest and penalties, during the years indicated. Year Ended June 30, In thousands 2022 2021 Balance at the beginning of the year $ — $ 1,611 Reduction for expiration of statutes of limitations — (1,611 ) Balance at the end of the year $ — $ — In addition to the amounts included in the above table, aggregate interest and penalties on uncertain tax positions of $ were recorded by the Company at the beginning of the year ended June 30, 2021. The Company continued to accrue interest and penalties on its uncertain tax positions through March 31, 2021. However, in April 2021, the recording of interest and penalties was discontinued because the statutes of limitations pertaining to the matters that gave rise to the Company’s uncertain tax positions expired with no payments being required by the Company and no action taken by any tax authority. In addition, the entire then-existing uncertain tax position liability, including accrued interest and penalties, was reversed, resulting in an income tax benefit of $ 2.2 million during the year ended June 30, 2021.

Accrued and Other Liabilities

Accrued and Other Liabilities	12 Months Ended
	Jun. 30, 2022
Payables And Accruals [Abstract]
Accrued and Other Liabilities	11. Accrued and Other Liabilities Accrued expenses June 30, In thousands 2022 2021 Research and development and related items $ 7,475 $ 11,045 Compensation 3,449 2,890 General and administrative and other 803 565 Total accrued and other liabilities $ 11,727 $ 14,500 As of June 30, 2022, federal payroll taxes totaling $0.2 million have been deferred by the Company pursuant to the Coronavirus Aid, Relief, and Economic Security Act and such amount will be paid on or before December 31, 2022. This liability was included in accrued and other liabilities on the Company’s balance sheets. At June 30, 2021, the corresponding liability was $0.4 million and was evenly split between accrued and other liabilities and other long-term liabilities.

Defined Contribution Plan

Defined Contribution Plan	12 Months Ended
	Jun. 30, 2022
Compensation And Retirement Disclosure [Abstract]
Defined Contribution Plan	12. Defined Contribution Plan The Company sponsors an employee 401(k) salary deferral plan (the “401(k) Plan”) that covers substantially all of its employees and is administered through a staff leasing company. Under the 401(k) Plan, employees may elect to defer up to 25% of their compensation per year (subject to a maximum limit prescribed by federal tax law) and the Company matches a portion of such employee contributions up to a maximum of 4% of eligible salary. The Company’s matching contribution expense totaled $506,000 and $381,000 during the years ended June 30, 2022 and 2021, respectively.

Stockholders' Equity and Relate

Stockholders' Equity and Related Matters	12 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity and Related Matters	13. Stockholders’ Equity and Related Matters March 2022 Public Offering of AGTC Equity Securities On March 24, 2022, the Company closed an underwritten public offering of 7.5 million shares of its common stock, with Cantor Fitzgerald & Co. (“Cantor”) acting as the sole underwriter for the offering. The indicative public offering price of each share of common stock was $1.30, generating gross proceeds of $9.8 million, before deducting underwriting discounts, commissions and other offering expenses payable by the Company, which totaled $1.2 million. Issuance costs totaling $140,000 were unpaid on June 30, 2022 and have been included in accrued and other liabilities on the Company’s balance sheet as of such date. Separately, the period for Cantor to exercise its option to purchase an additional 1.125 million shares of common stock has expired. February 2021 Public Offering of AGTC Equity Securities On February 1, 2021, the Company closed an underwritten public offering of 16,741,573 shares of its common stock, together with accompanying warrants to purchase 8,370,786 shares of its common stock. The combined offering price of each share of common stock and accompanying warrant was $4.45, generating gross proceeds of $74.5 million, before deducting underwriting discounts, commissions and other offering expenses payable by the Company, which totaled $5.2 million. The warrants have an initial exercise price of $6.00 per share (subject to certain adjustments), are immediately exercisable and expire on February 1, 2026. The warrants are legally detachable from the common stock that was issued on February 1, 2021 and are separately exercisable by the warrant holders. While the warrants are outstanding (but unexercised), the warrant holders will participate in any dividend or other distribution of the Company’s assets to its common stockholders by way of return of capital or otherwise. As of June 30, 2022, none of the warrants have been exercised. The warrants have been evaluated to determine the appropriate accounting and classification pursuant to ASC Topic 480, Distinguishing Liabilities from Equity , and ASC Topic 815, Derivatives and Hedging . Generally, freestanding warrants should be classified as (i) liabilities if the warrant terms allow settlement of the warrant exercise in cash and (ii) equity if the warrant terms only allow settlement in shares of common stock. Based on the terms of the warrants issued in February 2021, management concluded that they should be classified as equity with no subsequent remeasurement as long as the underlying warrant agreements are not modified or amended. At-The-Market Offering On April 2, 2021, the Company entered into a Controlled Equity Offering SM through an “at-the-market offering” program Shares Issued to a Vendor During the year ended June 30, 2022, the Company issued 22,500 shares of its unregistered common stock to a vendor for services rendered. An additional 7,500 shares were issued to the vendor in August 2022. No shares were issued to any vendors during the year ended June 30, 2021. Shares Reserved for Future Issuance As of June 30, 2022, there were 150 million shares of $0.001 par value common stock and five million shares of $0.001 par value preferred stock that were authorized to be issued. As of that date, a total of 51,010,648 and 50,957,028 shares of common stock were issued and outstanding, respectively, while of the preferred shares were issued and outstanding. The table below summarizes the shares of common stock that were reserved for future issuance as of June 30, 2022. Stock options issued and outstanding, including those with performance milestones 5,566,728 Restricted stock units 199,625 Authorized for future grant under the 2013 Employee Stock Purchase Plan 128,571 Authorized for future grant under the 2013 Equity and Incentive Plan 1,592,820 Warrants 8,370,786 Total shares of common stock reserved for future issuance 15,858,530 The number of shares of common stock available for issuance under the 2013 Equity and Incentive Plan is subject to an automatic annual increase on each July 1 equal to (i) 4% of the number of shares of common stock issued and outstanding on the immediately preceding June 30 or (ii) such lesser number of shares of common stock as determined by the Company’s Compensation Committee. Based on the Company’s issued and outstanding common shares on June 30, 2022, the number of shares of common stock reserved and available for issuance under the 2013 Equity and Incentive Plan increased by 2,038,281 shares on July 1, 2022. Activity Subsequent to June 30, 2022 See Note 15 to these Notes to Financial Statements for information regarding an underwritten public offering completed by the Company in July 2022.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies License and Other Agreements Under various grant funding agreements, the Company will be required to pay royalties and milestone payments upon the successful development and commercialization of its product candidates. The Company may become obligated to pay royalties on net product sales of any collaboration product that it successfully develops and subsequently commercializes or, if it out-licenses The Company is also party to various licensing agreements entered into in the ordinary course of business, pursuant to which the Company obtains certain rights to use the licensor’s intellectual property in connection with the making, having made, using, selling or offering for sale of the Company’s product candidates. As of June 30, 2022, the Company had four license agreements with the University of Florida Research Foundation (“UFRF”), including a joint license between UFRF and Johns Hopkins University, wherein the Company is responsible for all costs related to the preparation, filing, issuance, prosecution and maintenance of the underlying patents covered in the license agreements. Additionally, the Company is required to pay minimum annual royalties under such licenses until such time when the license is terminated by either expiration of the underlying patents or voluntary termination by either party per the agreement. The license agreements also require future payments related to milestones or royalties on future sales of specified products. Payments under these agreements generally become due and payable only upon achievement of certain developmental, regulatory or commercial milestones. Amounts related to contingent milestone payments are not considered contractual obligations because they are contingent on the successful achievement of certain development, regulatory and commercial milestones. There is uncertainty regarding the various activities and outcomes needed to reach these milestones and, as such, they may not be achieved. The Company may terminate its license agreements upon providing prior written notice in accordance with the terms of each specific agreement. As is typically required in a license agreement, the terms of each of the Company’s license agreements with UFRF include indemnification provisions pursuant to which the Company indemnifies, holds harmless and agrees to reimburse UFRF, certain of its affiliates and their respective directors, officers, employees and agents for losses suffered or incurred in connection with any claim by any third party with respect to the Company’s product candidates. The terms of these indemnification agreements are generally perpetual. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited. The Company has never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. COVID-19 On January 30, 2020, the World Health Organization (the “WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (“COVID-19”) and the WHO classified the COVID-19 outbreak as a The worldwide spread of COVID-19 led to X-linked retinitis COVID-19 COVID-19 follow-up lab-based stay-at-home COVID-19 COVID-19 Notwithstanding the development and rollout of certain vaccines, it is unknown: (i) how long the COVID-19 COVID-19. to change, management’s best estimates and judgments may require future modification. Therefore, actual results could differ materially from current estimates. Management is closely monitoring the evolving impact of the pandemic on all aspects of the Company’s business and periodically evaluates its estimates, which are adjusted prospectively based on such evaluations. General From time to time, the Company may be involved in claims and legal actions that arise in the normal course of business. Management has no reason to believe that the outcome of any such legal actions would have a significant adverse effect on the Company’s financial position, results of operations or cash flows.

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events On July 15, 2022, the Company closed an underwritten public offering of (i) 16,075,000 shares of the Company’s common stock, together with accompanying warrants to purchase up to 16,075,000 shares of its common stock, at a combined offering price of $0.60 per share and (ii) pre-funded warrants each pre-funded warrant pre-funded Effective July 15, 2022, (i) the holder of the pre-funded The abovementioned underwritten public offering, including the underwriter’s exercise of its option to purchase additional warrants, generated proceeds of its X-linked retinitis build-to-suit As of September 27, 2022, there were 19,166,667 warrants outstanding from the abovementioned underwritten public offering and the underwriter’s exercise of its option to purchase additional warrants (other than the pre-funded . While the warrants are outstanding (but unexercised), the warrant holders will participate in any dividend or other distribution of the Company’s assets to its common stockholders by way of return of capital or otherwise.

Quarterly Financial Information

Quarterly Financial Information	12 Months Ended
	Jun. 30, 2022
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	16. Quarterly Financial Information (Unaudited) The tables below summarize certain quarterly information of the Company for the years ended June 30, 2022 and 2021. Fiscal Year 2022 by Quarter In thousands, except per share data First Second Third Fourth Revenue $ — $ — $ — $ 325 Loss from operations (16,425 ) (18,443 ) (13,583 ) (17,724 ) Net loss (17,119 ) (19,144 ) (14,294 ) (18,386 ) Net loss per common share, basic $ (0.40 ) $ (0.45 ) $ (0.33 ) $ (0.36 ) Net loss per common share, diluted (0.40 ) (0.45 ) (0.33 ) (0.36 ) Fiscal Year 2021 by Quarter In thousands, except per share data First Second Third Fourth Revenue $ — $ — $ — $ 500 Loss from operations (15,062 ) (15,115 ) (14,488 ) (13,786 ) Net loss (15,380 ) (15,462 ) (14,851 ) (12,136 ) Net loss per common share, basic $ (0.60 ) $ (0.60 ) $ (0.40 ) $ (0.28 ) Net loss per common share, diluted (0.60 ) (0.60 ) (0.40 ) (0.28 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation The accompanying financial statements have been prepared assuming that the Company will continue as a going concern and in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). The Company’s fiscal year ends on June 30.
Segment Reporting	Segment reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker when making decisions regarding resource allocation and assessing performance. To date, management has viewed the Company’s operations and managed its business as one segment.
Use of estimates	Use of estimates The preparation of financial statements in conformity with U.S. GAAP and guidelines from the Securities and Exchange Commission (the “SEC”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during reporting periods. Actual results could differ from those estimates.
Cash and cash equivalents	Cash and cash equivalents Cash consists of funds held in bank accounts. Cash equivalents consist of short-term, highly liquid investments with original maturities of 90 days or less at the time of purchase and generally include money market accounts.
Investments	Investments The Company’s investments have historically consisted of certificates of deposit and debt securities classified as held-to-maturity. held-to-maturity maturity. Held-to-maturity held-to-maturity The Company uses the specific identification method to determine the cost basis of securities sold. Prior to July 1, 2021, investments were considered to be impaired when a decline in fair value was judged to be other-than-temporary. The Company evaluated an investment for impairment by considering the length of time and extent to which market value had been less than cost or amortized cost, the financial condition and near-term prospects of the issuer, as well as specific events or circumstances that could have influenced the operations of the issuer, and the Company’s intent to sell the security or the likelihood that it would have been required to sell the security before recovery of its amortized cost. Once a decline in fair value had been determined to be other-than-temporary, an impairment charge was recorded to investment income, net and a new cost basis in the investment was established . As discussed below under the heading “New accounting pronouncements,” effective July 1, 2021, the Company adopted Accounting Standards Update No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new standard replaced the “incurred loss” model with an “expected credit loss” model for certain investments, thereby requiring entities to consider a broader range of information to estimate expected credit losses over the lifetime of a financial asset that is recorded on an amortized cost basis, including held-to-maturity debt securities. When an impairment is identified, the Company estimates the aggregate losses to be incurred over the life of the held-to-maturity debt security and records an allowance with a corresponding charge to investment income, net.
Concentrations of Credit Risk	Concentrations of Credit Risk As of June 30, 2022, the Company’s cash and cash equivalents were held on deposit with a financial institution that is federally insured. However, a large portion of those cash and cash equivalents exceed federally insured limits and, as a result, could potentially expose the Company to significant concentrations of credit risk. To date, the Company has not experienced any losses associated with this credit risk and management continues to believe that this exposure is not significant. The Company invests its excess cash primarily in money market funds, certificates of deposit, and debt instruments of corporations and U.S. government agencies. These investments generally mature within one-year
Inventory	Inventory Purchases of clinical materials stored for master and working viral banks that remain at the sites in anticipation of their future use at that site are charged to expense when the related liability is incurred. Because the Company can generally use each of the raw materials in only a single product, each raw material is deemed to have no future economic value independent of the development status of that unique drug.
Fair value of financial instruments	Fair value of financial instruments The Company is required to disclose information regarding all assets and liabilities reported at fair value that enables an assessment of the inputs used when determining the reported fair values. Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2—Valuations based on quoted prices for similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 3—Valuations that require inputs that reflect the Company’s own assumptions that are both significant to the fair value measurement and unobservable. To the extent that a valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company when determining fair value is greatest for financial instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
Property and equipment	Property and equipment Property and equipment, which consists of laboratory equipment, furniture and fixtures, computer equipment and leasehold improvements, is recorded at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful life of the underlying asset, which is generally for most assets. Leasehold improvements are amortized over the shorter of the estimated useful life of the underlying asset or the related lease term, including any renewal periods that are deemed to be reasonably assured. As of June 30, 2022, the weighted average useful life of the Company’s property and equipment was years. Repair and maintenance costs that do not improve service potential or extend an asset’s economic life are recorded as an expense when incurred.
Leases	Leases The Company follows the provisions of ASC Topic 842, Leases right-of-use right-of-use The Company does not record a right-of-use asset a right-of-use asset Right-of-use direct costs incurred by the Company and lease payments made to a lessor on or before the related lease commencement date, less any lease incentives received directly from the lessor. When it is reasonably certain that the Company will exercise a renewal option or termination provision for one of its leases, the present value of the lease payments for the affected lease is adjusted accordingly. Variable lease payments that are not dependent on an index or a rate are excluded from the determination of the Company’s right-of-use assets and lease liabilities, and such payments are recognized as expense in the period that the related obligation is incurred. As the Company’s leases do not provide readily determinable implicit interest rates, an incremental borrowing rate commensurate with a lease’s term is used to discount future lease payments. The Company’s operating leases include rent escalation clauses that are factored into the determination of future lease payments when appropriate. The Company does not separate lease and nonlease components of its contracts when applying the provisions of Topic 842. The Company’s leases are further discussed at Note 3 in these Notes to Financial Statements.
Intangible assets	Intangible assets Intangible assets primarily consist of licenses and patents. The Company obtains licenses from third parties and capitalizes the costs related to exclusive licenses that have alternative future use in multiple existing and/or potential programs. The Company also capitalizes costs related to filing, issuance and prosecution of its patents. The Company reviews its capitalized costs periodically to determine that such costs relate to patent applications that have future value and an alternative future use. The Company writes off costs associated with patents that are no longer being actively pursued or provide no future benefit. Amortization expense for intangible assets is computed using the straight-line method over the estimated useful life of the underlying asset, which is generally eight years as of June 30, 2022). The Company amortizes (i) in-licensed expensed.
Impairment of long-lived assets	Impairment of long-lived assets The Company reviews its long-lived asset groups for impairment whenever events or changes in circumstances indicate that the carrying amount
Financing fees	Financing fees Financing fees consist of costs, including those for legal services, that are necessary to secure commitments under debt financing arrangements. Those costs are deferred and recognized as interest expense over the period of the related financing arrangement using the effective interest method. If a financing arrangement is terminated or otherwise satisfied, any remaining deferred financing fees are immediately recognized as interest expense. The Company’s financial statements present deferred financing fees as a direct reduction of the carrying amount of the corresponding liability.
Revenue recognition	Revenue recognition The Company follows the provisions of ASC Topic 606, Revenue from Contracts with Customers The Company may enter into collaboration agreements, which are within the scope of Topic 606, where it licenses rights to its technology and certain of its product candidates and performs research and development services for third parties. The terms of these arrangements may include payment of one or more of the following: upfront fees; reimbursement of research and development costs; development, regulatory and commercial milestone payments; and royalties on net sales of licensed products. Under Topic 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. To determine the appropriate amount of revenue to be recognized for arrangements determined to be within the scope of Topic 606, the Company performs the following five steps: (i) identification of the contract; (ii) determination of whether the promised goods or services are performance obligations; (iii) measurement of the transaction price, including any constraints on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts if it is probable that it will collect consideration that the Company is entitled to in exchange for the goods or services it transfers to the customer. Performance obligations are promises to transfer distinct goods or services to a customer. Promised goods or services are considered distinct when (i) the customer can benefit from the good or service on its own or together with other readily available resources and (ii) the promised good or service is separately identifiable from other promises in the contract. When assessing whether promised goods or services are distinct, the Company considers factors such as the stage of development of the underlying intellectual property, the capabilities of a customer to develop the intellectual property on its own or whether the required expertise is readily available. The Company estimates the transaction price based on the amount expected to be received for transferring the promised goods or services in the contract. The consideration may include both fixed consideration and variable consideration. At the inception of an arrangement that includes variable consideration and at the end of each reporting period, the Company evaluates the amount of potential customer payments and the likelihood that such payments will be received. The Company utilizes either the most likely amount method or the expected amount method to estimate the amount to be received based on which method better predicts the amount expected to be received. If it is probable that a significant revenue reversal would not occur, the variable consideration is included in the transaction price. The Company will assess its revenue generating arrangements to determine whether a significant financing component exists and conclude that a significant financing component does not exist in an arrangement if the: (a) promised consideration approximates the cash selling price of the promised goods and services or any significant difference is due to factors other than financing; and (b) timing of payment approximates the transfer of goods and services and performance is over a relatively short period of time within the context of the entire term of the contract. The Company’s contracts often include development and regulatory milestone payments. At contract inception, the Company evaluates whether any such milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the Company’s control or the customer’s control, such as regulatory approvals, are not included in the transaction price. At the end of each subsequent reporting period, the Company reevaluates the probability of achievement of such development milestones and any related constraint and, if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, For arrangements that may include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (i) when the related sale occurs or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). To date, the Company has not recognized any royalty revenue resulting from any of the Company’s collaboration arrangements. The Company allocates the transaction price based on the estimated stand-alone selling price of the underlying performance obligation or, in the case of certain variable consideration, to one or more performance obligations. The Company uses assumptions that require judgment to determine the stand-alone selling price for each performance obligation identified in a contract. The Company utilizes key assumptions to determine the stand-alone selling price, which may include other comparable transactions, pricing considered in negotiating the transaction and the estimated costs to complete the related performance obligation. Certain variable consideration is allocated specifically to one or more performance obligation in a contract when the terms of the variable consideration relate to the satisfaction of a performance obligation and the resulting amounts allocated to each performance obligation are consistent with the amounts the Company would expect to receive for each performance obligation. For performance obligations consisting of licenses and other promises, the Company uses judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for the purpose of recognizing revenue from upfront fees. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company will recognize revenue from upfront fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. The Company receives payments from its customers based on billing terms established in each contract. Such billings generally have 30-day payment receipt or when due until the Company performs its obligations under those arrangements. Amounts are recorded as accounts receivable when the right to consideration is unconditional.
Collaboration arrangements	Collaboration arrangements The Company analyzes its collaboration arrangements to assess whether they are within the scope of ASC Topic 808, Collaborative Arrangements The Company’s collaboration arrangements are further discussed at Note 8 in these Notes to Financial Statements.
Income taxes	Income taxes The Company uses the asset and liability method to account for income taxes. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in the years in which those temporary differences are projected to be recovered or settled. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, The Company’s income taxes are further discussed at Note 10 in these Notes to Financial Statements.
Research and development expenses	Research and development expenses Research and development expenses include costs incurred to identify, develop and test product candidates and are generally comprised of compensation and related benefits and non-cash share-based As part of the process of preparing the Company’s financial statements, estimates of accrued expenses are necessary. The estimation process involves reviewing quotations and contracts, identifying services that have been performed on the Company’s behalf, and determining the level of services performed and associated costs incurred for services for which the Company has not yet been invoiced or otherwise notified of the actual cost. The majority of the Company’s service providers invoice monthly in arrears for services performed or when contractual milestones are met. Management estimates the Company’s accrued expenses at the end of each reporting period based on the facts and circumstances known at that time. As a result, estimates recorded in the Company’s financial statements and disclosed in the accompanying notes may change in the future and such changes in estimates, if any, will be recorded in the Company’s operating results in the period they are identified by management. The significant estimates in the Company’s accrued research and development expenses primarily relate to expenses incurred with respect to academic research centers, contract research organizations and other vendors in connection with research and development activities for which the Company has not yet been invoiced. There are instances where the Company’s service providers require advance payments at the inception of a contract and other circumstances where the Company’s payments to a vendor will exceed the level of services provided, in both cases resulting in a prepayment of research and development expenses. Such prepayments are charged to research and development expense as and when the service is provided or when a specific milestone outlined in the contract is reached. Prepayments related to research and development activities were $1.3 million and $0.9 million at June 30, 2022 and 2021, respectively, and are included in prepaid and other current assets on the Company’s balance sheets.
Share-based compensation	Share-based compensation The Company accounts for share-based awards issued to employees in accordance with ASC Topic 718, Compensation—Stock Compensation, For purposes of calculating share-based compensation expense, the Company estimates the fair value of stock options using a Black-Scholes option-pricing model. The determination of the fair value of a share-based compensation award utilizing the Black-Scholes model is affected by the Company’s stock price and a number of assumptions, including the expected volatility of the Company’s stock, the expected life of the stock option, the risk-free interest rate and expected dividends. Additionally, the Company uses a Monte Carlo simulation model to determine the fair value of restricted stock units with market-based vesting conditions for purposes of calculating share-based compensation expense. The Monte Carlo simulation model incorporates the probability of satisfying a market condition and uses transaction details such as the Company’s stock price, contractual terms, maturity and risk-free interest rates, as well as volatility. The fair value of restricted stock units with no performance or market vesting conditions is based on the market value of the Company’s common stock on the date of grant. If factors change and the Company employs different assumptions, share-based compensation expense may differ significantly from what has been recorded in the past. If there is a difference between the assumptions used in determining share-based compensation expense and the actual factors that become known over time, specifically with respect to anticipated forfeitures, the Company may change the input factors used in determining share-based compensation costs for future awards. These changes, if any, may materially impact the Company’s results of operations in the period that such changes are made.
Net income or loss per share	Net income or loss per share Basic net income or loss per share is calculated by dividing net income or loss by the weighted average shares outstanding during the period, without consideration of common stock equivalents. Diluted net income or loss per share is calculated by adjusting the weighted average shares outstanding for the dilutive effects of common stock equivalents outstanding during the period, determined using the treasury stock method. For purposes of diluted net income or loss per share calculations, warrants to purchase the Company’s common stock, stock options, restricted stock awards, restricted stock units and performance service awards are considered to be common stock equivalents if they are dilutive. The dilutive impact of common stock equivalents for the years ended June 30, 2022 and 2021 was approximatel y 0.1 million and 0.4 million shares, respectively. However, those common stock equivalents were excluded from the calculations of diluted net loss per share for each of the years ended June 30, 2022 and 2021 because their effects were anti-dilutive. Common stock equivalents for the years ended June 30, 2022 and 2021 excluded certain warrants to purchase the Company’s common stock, which are described at Note 13 to these Notes to Financial Statements, because the exercise price of such warrants was greater than the average market price of the Company’s common stock during the related periods.
Comprehensive loss	Comprehensive loss Comprehensive income or loss consists of net income or loss and changes in equity during a period from transactions and other equity and circumstances generated from non-owner sources.
New Accounting Pronouncements	New accounting pronouncements Adopted during the year ended June 30, 2022 Financial Instruments—Credit Losses In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Investments – Equity Securities, Investments – Equity Method and Joint Ventures, and Derivatives and Hedging In January 2020, the FASB issued ASU No. 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 Financial Instruments

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Summary of lease costs and other information pertaining to the Company's operating and finance leases	The table below summarizes lease costs and other information pertaining to the Company’s operating and finance leases for the years indicated. Year Ended June 30, In thousands 2022 2021 Lease cost: Finance lease cost Amortization of right-of-use $ 34 $ 46 Interest on lease liability 1 5 Operating lease cost 894 779 Short-term lease cost 29 32 Variable lease cost 564 409 Total lease cost $ 1,522 $ 1,271 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for a finance lease $ 1 $ 5 Operating cash flows used for operating leases $ 1,251 $ 1,160 Financing cash flows used for a finance lease $ 38 $ 48 Right-of-use (non-cash) $ 400 $ 111 Other information (as of the end of the year): Weighted average remaining lease term—operating leases (in years) 4.2 5.1 Weighted average remaining lease term—finance lease (in years) — 0.8 Weighted average discount rate—operating leases 8.6 % 8.6 % Weighted average discount rate—finance lease — 6.9 %
Summary of future minimum commitments under the ASC 842 for the Company's operating and financing leases	As of June 30, 2022, future minimum commitments for the Company’s operating leases for the years ending June 30 are summarized below. In thousands 2023 $ 1,333 2024 1,311 2025 939 2026 515 2027 515 Thereafter 215 Total future minimum payments for operating leases 4,828 Imputed interest (777 ) Operating lease liabilities per the balance sheet $ 4,051
Summary of company annual base rent	Lease Months 1 $ — 2-7 $ 743,750 8-19 $ 1,336,625 Base rent shall increase 1.5% each lease year (12-month

Investments and Fair Values o_2

Investments and Fair Values of Financial Instruments (Tables)	12 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Major Category of Company's Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The fair In thousands Level 1 Level 2 Level 3 Total Fair Value June 30, 2022 Cash and cash equivalents $ 46,366 $ — $ — $ 46,366 June 30, 2021 Cash and cash equivalents $ 105,052 $ — $ — $ 105,052 Held-to-maturity 2,000 — — 2,000 Total assets $ 107,052 $ — $ — $ 107,052

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Jun. 30, 2022
Property Plant And Equipment [Abstract]
Components of Property and Equipment	The table below summarizes the Company’s property and equipment, net as of the dates indicated. June 30, In thousands 2022 2021 Laboratory equipment $ 6,422 $ 5,822 Leasehold improvements 3,886 3,881 Office equipment and furniture 907 845 Equipment designated for future use 661 — Property and equipment, gross 11,876 10,548 Accumulated depreciation and amortization (7,162 ) (5,890 ) Property and equipment, net $ 4,714 $ 4,658

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Jun. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Net as of the Dates Indicated	The tables below summarize the Company’s intangible assets, net as of the dates indicated. June 30, 2022 In thousands Cost Accumulated Amortization Intangible Patents $ 3,334 $ (1,974 ) $ 1,360 Licenses 289 (244 ) 45 Other 66 (38 ) 28 Totals $ 3,689 $ (2,256 ) $ 1,433 June 30, 2021 In thousands Cost Accumulated Amortization Intangible Patents $ 3,001 $ (1,809 ) $ 1,192 Licenses 289 (229 ) 60 Other 66 (31 ) 35 Totals $ 3,356 $ (2,069 ) $ 1,287
Schedule of Estimated Amortization Expense	Estimated amortization expense for the years ending June 30 for the next five years and thereafter is summarized in the table below. In thousands 2023 $ 106 2024 72 2025 62 2026 62 2027 61 Thereafter 1,047 $1,410

Share-based Compensation Plans

Share-based Compensation Plans (Tables)	12 Months Ended
	Jun. 30, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity	Information about the Company’s stock options that do not have performance Year Ended June 30, 2022 2021 (In thousands, except per share amounts) Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at the beginning of the year 4,186 $ 7.69 3,846 $ 7.82 Granted 2,641 2.90 1,456 5.15 Exercised (150 ) 0.89 (204 ) 3.94 Forfeited (496 ) 4.13 (794 ) 4.44 Expired (630 ) 10.64 (118 ) 8.99 Outstanding at the end of the year 5,551 $ 5.58 4,186 $ 7.69 Exercisable at the end of the year 2,843 2,866 Weighted average fair value of options granted during the year $ 2.05 $ 3.67
Summary of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable	The table below summarizes information about stock options (i) vested and expected to vest and (ii) exercisable as of June 30, 2022. (In thousands, except per share amounts) Shares Weighted Average Exercise Price Aggregate Intrinsic Value Weighted Average Contractual Life (in years) Vested and expected to vest 5,074 $ 5.82 $ 7 6.69 Exercisable 2,843 7.87 6 4.84
Summary of Total Share-based Expense Associated with Stock Options and Restricted Shares	The Year Ended June 30, In thousands 2022 2021 Research and development $ 1,685 $ 1,110 General and administrative and other 1,740 1,568 Totals $ 3,425 $ 2,678
Stock Option Pricing Model Assumption	The fair value of each stock option granted is estimated on the date of grant using a Black-Scholes stock option pricing model. Below are the assumptions that were used when estimating fair value for the years indicated. Year Ended June 30, Assumption 2022 2021 Dividend yield 0.00 % 0.00 % Expected term 6.00 to 6.25 years 6.00 to 6.25 years Risk-free interest rate 0.80% to 3.53% 0.30% to 1.08% Expected volatility 82.51 % 82.60 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Significant Components of Deferred Tax Assets (Liabilities)	Deferred taxes are recognized for temporary differences between the basis of assets and liabilities for financial statement and income tax purposes. The table below summarizes the significant components of the Company’s deferred tax assets (liabilities). June 30, In thousands 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 61,867 $ 44,141 Tax credit carryforwards 38,877 35,563 Share-based compensation 2,866 3,470 Lease liabilities—operating 1,031 1,133 Accruals and other 831 720 Gross deferred tax assets 105,472 85,027 Deferred tax asset valuation allowance (104,513 ) (83,980 ) Total deferred tax assets, net of valuation allowance 959 1,047 Deferred tax liabilities: Right-of-use assets—operating leases (775 ) (791 ) Depreciation and amortization (184 ) (256 ) Total deferred tax liabilities (959 ) (1,047 ) Net deferred tax asset (liability) $ — $ —
Reconciliation of Income Tax Expense	The items comprising the differences between the U.S. federal statutory income tax rate and the Company’s effective tax rate on the loss before benefit from income taxes for the years indicated are summarized in the table below. Year Ended June 30, 2022 2021 Federal income tax benefit at statutory rate 21 % 21 % State income taxes, net of federal benefit 3 3 Permanent differences- primarily (1 ) — Research and development tax credits 6 8 Reversal of the liability for uncertain tax positions — 4 Other — 1 Change in valuation allowance (29 ) (33 ) Effective income tax rate — % 4 %
Schedule of Reconciliation of the Unrecognized Tax Benefit	The table below is a reconciliation of the beginning and ending amounts of the Company’s gross unrecognized tax benefits for certain state tax matters, excluding interest and penalties, during the years indicated. Year Ended June 30, In thousands 2022 2021 Balance at the beginning of the year $ — $ 1,611 Reduction for expiration of statutes of limitations — (1,611 ) Balance at the end of the year $ — $ —

Accrued and Other Liabilities (

Accrued and Other Liabilities (Tables)	12 Months Ended
	Jun. 30, 2022
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses June 30, In thousands 2022 2021 Research and development and related items $ 7,475 $ 11,045 Compensation 3,449 2,890 General and administrative and other 803 565 Total accrued and other liabilities $ 11,727 $ 14,500

Stockholders' Equity and Rela_2

Stockholders' Equity and Related Matters (Tables)	12 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Shares of Common Stock Reserved for Future Issuance	The table below summarizes the shares of common stock that were reserved for future issuance as of June 30, 2022. Stock options issued and outstanding, including those with performance milestones 5,566,728 Restricted stock units 199,625 Authorized for future grant under the 2013 Employee Stock Purchase Plan 128,571 Authorized for future grant under the 2013 Equity and Incentive Plan 1,592,820 Warrants 8,370,786 Total shares of common stock reserved for future issuance 15,858,530

Quarterly Financial Informati_2

Quarterly Financial Information (Tables)	12 Months Ended
	Jun. 30, 2022
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Information	The tables below summarize certain quarterly information of the Company for the years ended June 30, 2022 and 2021. Fiscal Year 2022 by Quarter In thousands, except per share data First Second Third Fourth Revenue $ — $ — $ — $ 325 Loss from operations (16,425 ) (18,443 ) (13,583 ) (17,724 ) Net loss (17,119 ) (19,144 ) (14,294 ) (18,386 ) Net loss per common share, basic $ (0.40 ) $ (0.45 ) $ (0.33 ) $ (0.36 ) Net loss per common share, diluted (0.40 ) (0.45 ) (0.33 ) (0.36 ) Fiscal Year 2021 by Quarter In thousands, except per share data First Second Third Fourth Revenue $ — $ — $ — $ 500 Loss from operations (15,062 ) (15,115 ) (14,488 ) (13,786 ) Net loss (15,380 ) (15,462 ) (14,851 ) (12,136 ) Net loss per common share, basic $ (0.60 ) $ (0.60 ) $ (0.40 ) $ (0.28 ) Net loss per common share, diluted (0.60 ) (0.60 ) (0.40 ) (0.28 )

Organization and Operations - A

Organization and Operations - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Summary Of Organization And Operations [Line Items]
Accumulated deficit	$ (308,212)	$ (239,269)
Cash and cash equivalents	46,366	$ 105,052
Proceeds from issuance initial public offering	$ 9,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands, shares in Millions	12 Months Ended
	Jun. 30, 2022 USD ($) Segment shares	Jun. 30, 2021 USD ($) shares
Summary of Significant Accounting Policies [Line Items]
Number of operating segments | Segment	1
Property, plant and equipment, estimated useful lives	five years
Property and equipment, weighted average useful life	6 years 2 months 12 days
Weighted average amortization period of intangible assets	12 years 9 months 18 days
Impairment, long-lived asset, held-for-use	$ 0	$ 0
Dilutive impact of common stock equivalents | shares	0.1	0.4
Minimum [Member]
Summary of Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets	8 years
Maximum [Member]
Summary of Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets	20 years
Prepaid and Other Current Assets [Member]
Summary of Significant Accounting Policies [Line Items]
Advance payments	$ 1,300	$ 900
US Government Securities [Member]
Summary of Significant Accounting Policies [Line Items]
Cash equivalent maximum maturity	90 days

Leases - Additional Information

Leases - Additional Information (Detail) $ in Millions			12 Months Ended
	Aug. 31, 2022 USD ($)	May 13, 2021 USD ($) ft²	Jun. 30, 2022 USD ($) ft²
Leases Description [Line Items]
Office and laboratory space for lease | ft²		21,250
Short-term lease commitment, amount			$ 5.2
Subsequent Event [Member] | Landlord [Member]
Leases Description [Line Items]
Contribution made by the party for fit out work	$ 8
Subsequent Event [Member] | Company [Member]
Leases Description [Line Items]
Contribution made by the party for fit out work	$ 2.9
Build To Suit Manufacturing And Quality Control Facility In Alachua Florida [Member]
Leases Description [Line Items]
Commitment to contribute towards building taken on operating lease for full fit out cost		$ 10.9
Lessee operating lease not yet comenced term of contract		20 years
Payments for Rent			$ 30.4
Lessee operating lease annual base rent percentage increase		1.50%
Lessee operating lease not yet commenced term after which the termination may take place		16 years 6 months
Lessee operating lease not yet commenced term before which notice shall be given		15 years
Lessee operating lease not yet commenced termination fees payable		$ 3.3
Build To Suit Manufacturing And Quality Control Facility In Alachua Florida [Member] | Operating Lease Renewal One [Member]
Leases Description [Line Items]
Lessee operating lease not yet commenced renewal term		5 years
Build To Suit Manufacturing And Quality Control Facility In Alachua Florida [Member] | Operating Lease Renewal Two [Member]
Leases Description [Line Items]
Lessee operating lease not yet commenced renewal term		5 years
Build To Suit Manufacturing And Quality Control Facility In Alachua Florida [Member] | Operating Lease Renewal Three [Member]
Leases Description [Line Items]
Lessee operating lease not yet commenced renewal term		5 years
Alachua, Florida [Member]
Leases Description [Line Items]
Office and laboratory space for lease | ft²			23,600
Renewal term of operating lease agreement			5 years
Cambridge, Massachusetts [Member]
Leases Description [Line Items]
Office and laboratory space for lease | ft²			8,000
Renewal term of operating lease agreement			3 years

Leases - Summary of lease costs

Leases - Summary of lease costs and other information pertaining to the Company's operating and finance leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Finance lease cost
Amortization of right-of-use asset	$ 34	$ 46
Interest on lease liability	1	5
Operating lease cost	894	779
Short-term lease cost	29	32
Variable lease cost	564	409
Total lease cost	1,522	1,271
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for finance lease	1	5
Operating cash flows used for operating leases	1,251	1,160
Financing cash flows used for finance lease	38	48
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 400	$ 111
Other information (as of the end of the year):
Weighted average remaining lease term - operating leases (in years)	4 years 2 months 12 days	5 years 1 month 6 days
Weighted average remaining lease term - finance lease (in years)		9 months 18 days
Weighted average discount rate - operating leases	8.60%	8.60%
Weighted average discount rate - finance lease		6.90%

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Commitments for the Company's Operating and Financing Leases (Detail) $ in Thousands	Jun. 30, 2022 USD ($)
Operating lease liabilities:
2023	$ 1,333
2024	1,311
2025	939
2026	515
2027	515
Thereafter	215
Total future minimum payments for operating leases	4,828
Imputed interest	(777)
Operating lease liabilities per the balance sheet	$ 4,051

Leases - Summary of company ann

Leases - Summary of company annual base rent (Detail) - Build To Suit Manufacturing And Quality Control Facility In Alachua Florida [Member]	May 13, 2021 USD ($)
1 [Member]
Operating Leased Assets [Line Items]
Operating lease base rent payable during the period
2-7 Months [Member]
Operating Leased Assets [Line Items]
Operating lease base rent payable during the period	743,750
8-19 Months [Member]
Operating Leased Assets [Line Items]
Operating lease base rent payable during the period	$ 1,336,625

Leases - Summary of Company A_2

Leases - Summary of Company Annual Base Rent (Parenthetical) (Detail) - Build To Suit Manufacturing And Quality Control Facility In Alachua Florida [Member]	May 13, 2021
Operating Leased Assets [Line Items]
Lessee operating lease annual base rent percentage increase	1.50%
From The Twenty Month Of The Lease Term [Member]
Operating Leased Assets [Line Items]
Lessee operating lease annual base rent percentage increase	1.50%

Investments and Fair Values o_3

Investments and Fair Values of Financial Instruments - Schedule of Major Category of Company's Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value on a Recurring Basis [Member] - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value		$ 107,052
Cash and Cash Equivalents [Member]
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 46,366	105,052
US Treasury Securities [Member]
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value		2,000
Quoted Prices in Active markets (Level 1) [Member]
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value		107,052
Quoted Prices in Active markets (Level 1) [Member] | Cash and Cash Equivalents [Member]
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 46,366	105,052
Quoted Prices in Active markets (Level 1) [Member] | US Treasury Securities [Member]
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value		$ 2,000

Investments and Fair Values o_4

Investments and Fair Values of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Jul. 01, 2021	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Carrying amount of long-term debt, net of unamortized deferred financing costs and debt discounts	$ 18,400	$ 19,900	$ 19,900
Debt Securities, Held-to-maturity, Fair Value			$ 2,000
Investments	$ 0
Debt Securities, Maturity, Date	Jul. 31, 2021

Property and Equipment, Net - C

Property and Equipment, Net - Components of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 11,876	$ 10,548
Accumulated depreciation and amortization	(7,162)	(5,890)
Property and equipment, net	4,714	4,658
Laboratory equipment [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross	6,422	5,822
Equipment (construction in progress) [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross	661	0
Leasehold improvements [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross	3,886	3,881
Office equipment [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 907	$ 845

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Property Plant And Equipment [Line Items]
Depreciation and amortization expense	$ 1,300	$ 1,300
Depreciation, depletion and amortization	1,512	1,460
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Depreciation, depletion and amortization	$ 500	$ 500

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Intangible Assets, Net as of the Dates Indicated (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Cost	$ 3,689	$ 3,356
Accumulated Amortization	(2,256)	(2,069)
Intangible assets, net	1,433	1,287
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	3,334	3,001
Accumulated Amortization	(1,974)	(1,809)
Intangible assets, net	1,360	1,192
Licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	289	289
Accumulated Amortization	(244)	(229)
Intangible assets, net	45	60
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	66	66
Accumulated Amortization	(38)	(31)
Intangible assets, net	$ 28	$ 35

Intangible Assets, Net - Additi

Intangible Assets, Net - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible assets amortization expense	$ 205,000	$ 182,000

Intangible Assets, Net - Sche_2

Intangible Assets, Net - Schedule of Estimated Amortization Expense (Detail) $ in Thousands	Jun. 30, 2022 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2023	$ 106
2024	72
2025	62
2026	62
2027	61
Thereafter	1,047
Intangible assets, net	$ 1,410

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2022	Sep. 27, 2022	Sep. 21, 2022	Jul. 01, 2021	Jun. 30, 2021	May 13, 2021	Jun. 30, 2020
Debt instrument charges	$ 165,000
Debt Instrument Maturity Date Description	As a result of the Amendment, the Term Loan matures on April 1, 2024 ( the “Term Loan Maturity Date”).
Debt Variable Contractual Rate	9.75%
Debt Instrument, Basis Spread on Variable Rate	3.25%
Term loan amount triggering a financial covenant	$ 10,000,000
Minimum unrestricted cash	5,000,000
Carrying amount of long-term debt, net of unamortized deferred financing costs and debt discounts	18,400,000			$ 19,900,000	$ 19,900,000
Unamortized debt discounts and deferred financing fees	800,000				$ 1,500,000
Equity offerings value	$ 2,000,000
Debt instrument,interest rate	9.75%
Debt instrument supplemental end of term charge	6.95%
Future minimum principal payments of the outstanding Term Loan	$ 9,300,000
Future minimum principal payments of the outstanding Term Loan	8,500,000
Payment of fees to the lenders to effectuate amendment	$ 150,000
After Amendment To Loan [Member]
Debt instrument, Effective interest rate	14.80%				13.30%
Before Amendment To Loan [Member]
Debt instrument, Effective interest rate	13.50%
More Than Twenty Four Months Less Than Thirty Six Months [Member]
Debt instrument, prepayment charges	1%
More Than Three Years [Member]
Debt instrument, prepayment charges	0%
Maximum [Member]
Debt instrument,interest rate	11.25%	12.75%
Minimum [Member]
Market capitalization value			$ 300,000,000
Debt instrument,interest rate					9.75%
Term loan [Member]
Debt instrument maximum borrowing capacity							$ 25,000,000
Debt instrument, additional borrowing capacity							15,000,000
Long-term Debt, Gross						$ 10,000,000	$ 10,000,000
Line of credit facility additional borrowing capacity						$ 5,000,000
Debt Instrument, Maturity Date	Apr. 01, 2024

Collaboration Agreements, Rev_2

Collaboration Agreements, Revenue and Contract Liabilities - Additional Information (Detail) - USD ($)			3 Months Ended		9 Months Ended	12 Months Ended
	Apr. 13, 2021	Feb. 02, 2017	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2020	Jun. 30, 2022	Jun. 30, 2021
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration revenue			$ 325,000	$ 500,000		$ 325,000	$ 500,000
Deferred revenue balance				225,000			225,000
Deferred revenue			$ 149,000	374,000		149,000	374,000
Development and production contract [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration revenue						$ 325,000
Deferred revenue				$ 225,000			$ 225,000
Strategic Research And Development Collaboration Agreement [Member] | Bionic Sight LLC [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Payments to acquire equity interest		$ 2,000,000			$ 4,000,000
Ongoing research and development support costs		$ 2,200,000
Strategic Research And Development Collaboration Agreement [Member] | Bionic Sight LLC [Member] | Equity Interest [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of investment in equity interest		5%	15.20%		15.50%	15.20%
Sparing Vision SAS [Member] | License Fee Revenue [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Upfront License Fee Payment	$ 500,000

Share-based Compensation Plan_2

Share-based Compensation Plans - Additional Information (Detail) $ / shares in Units, $ in Thousands

1 Months Ended

2 Months Ended

12 Months Ended

Jun. 30, 2022 USD ($) $ / shares shares

May 31, 2022 shares

Aug. 15, 2021 shares

May 31, 2021 $ / shares shares

Jul. 31, 2022 shares

Aug. 31, 2019 shares

Jun. 30, 2021 $ / shares shares

Jun. 30, 2022 USD ($) Agreement $ / shares shares

Jun. 30, 2021 USD ($) $ / shares shares

Jun. 30, 2020 $ / shares shares

Aug. 15, 2020 shares

Jul. 31, 2019 $ / shares

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Number of equity compensation plans | Agreement

2

Percentage of exercise price stock option

100%

Share-based compensation expense | $

$ 3,425

$ 2,678

Stock options granted

2,641,000

1,456,000

Exercise price | $ / shares

$ 5.58

$ 7.69

$ 5.58

$ 7.69

$ 7.82

Grant date fair value | $ / shares

$ 2.05

$ 3.67

Restricted stock awards vested

5,074,000

5,074,000

Stockholder Owning in Excess of 10% [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Percentage of exercise price stock option

110%

2013 Employee Stock Purchase Plan [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share based awards issued

0

Number of shares authorized

128,571

128,571

2013 Equity and Incentive Plan [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Number of shares available for issuance

1,592,820

1,592,820

Stock Options [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share-based compensation expense | $

$ 2,300

$ 2,500

Unrecognized compensation expense | $

$ 5,600

5,600

Options exercised in intrinsic value | $

100

300

Fair value of options vested | $

$ 2,100

2,300

Award vesting period

4 years

Weighted average period of expenses to be recognized

2 years 10 months 24 days

Restricted Shares Awards [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share-based compensation expense | $

$ 1,100

$ 200

Grant date fair value | $ / shares

$ 2.56

Restricted stock awards vested

54,500

76,500

Six Performance Criteria Based Stock Options [Member] | Senior Executive [Member] | 2013 Equity and Incentive Plan [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock options granted

100,000

Exercise price | $ / shares

$ 3.91

Terms of award

ten years

Award vesting period

3 years

Six Performance Criteria Based Stock Options [Member] | Senior Executive [Member] | 2013 Equity and Incentive Plan [Member] | Vesting Period One [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Award vesting rights, percentage

25%

Six Performance Criteria Based Stock Options [Member] | Senior Executive [Member] | 2013 Equity and Incentive Plan [Member] | Vesting Period Two [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Award vesting rights, percentage

75%

First Performance Criteria Based Stock Options [Member] | Senior Executive [Member] | 2013 Equity and Incentive Plan [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Grant date fair value | $ / shares

$ 2.58

Restricted Stock Units [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Restricted stock awards to employees, Granted

175,500

579,500

Stock options granted

900,000

Grant date fair value | $ / shares

$ 4.16

Restricted stock awards to employees, forfeited

44,500

162,250

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period

217,625

Restricted Stock Units [Member] | 2013 Equity and Incentive Plan [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Restricted stock awards to employees, Granted

579,500

Grant date fair value | $ / shares

$ 4.16

Restricted Stock Units [Member] | Market Based Vesting Conditions [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number

0

New Service Only Stock Options [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unrecognized compensation expense | $

$ 500

$ 500

Stock options granted

1,200,000

Weighted average period of expenses to be recognized

10 months 24 days

Unvested Performance Shares [Member]

Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unvested performance-based stock options

84,375

Share-based Compensation Plan_3

Share-based Compensation Plans - Summary of Stock Option Activity (Detail) - $ / shares shares in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding Beginning Balance, Shares	4,186	3,846
Granted, Shares	2,641	1,456
Exercised, Shares	(150)	(204)
Forfeited, Shares	(496)	(794)
Expired, Shares	(630)	(118)
Outstanding Ending Balance, Shares	5,551	4,186
Exercisable, end of period, Shares	2,843	2,866
Weighted average fair value of options granted during the year	$ 2.05	$ 3.67
Outstanding Beginning Balance, Weighted Average Exercise Price	7.69	7.82
Granted, Weighted Average Exercise Price	2.9	5.15
Exercised, Weighted Average Exercise Price	0.89	3.94
Forfeited, Weighted Average Exercise Price	4.13	4.44
Expired, Weighted Average Exercise Price	10.64	8.99
Outstanding Ending Balance, Weighted Average Exercise Price	$ 5.58	$ 7.69

Share-based Compensation Plan_4

Share-based Compensation Plans - Summary Of Stock Options Exercisable, And Vested and Expected to Vest (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Vested and expected to vest, Shares	5,074
Exercisable, Shares	2,843	2,866
Vested and expected to vest, Weighted Average Exercise Price	$ 5.82
Exercisable, Weighted Average Exercise Price	$ 7.87
Vested and expected to vest, Aggregate Intrinsic Value	$ 7
Exercisable, Aggregate Intrinsic Value	$ 6
Vested and expected to vest, Weighted Average Contractual Life (in Years)	6 years 8 months 8 days
Exercisable, Weighted Average Contractual Life (in Years)	4 years 10 months 2 days

Share-based Compensation Plan_5

Share-based Compensation Plans - Summary of Total Share-based Expense Associated with Stock Options and Restricted Shares (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 3,425	$ 2,678
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,685	1,110
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 1,740	$ 1,568

Share-based Compensation Plan_6

Share-based Compensation Plans - Stock Option Pricing Model Assumption (Detail)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0%	0%
Risk-free interest rate, minimum	0.80%	0.30%
Risk-free interest rate, maximum	3.53%	1.08%
Expected volatility	82.51%	82.60%
Minimum [Member]
Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term	6 years	6 years
Maximum [Member]
Share-Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term	6 years 3 months	6 years 3 months

Income Taxes - Significant Comp

Income Taxes - Significant Components of Deferred Tax Assets and (Liabilities) (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 61,867	$ 44,141
Tax credit carryforwards	38,877	35,563
Share-based compensation	2,866	3,470
Lease liabilities—operating	1,031	1,133
Accruals and other	831	720
Gross deferred tax assets	105,472	85,027
Deferred tax asset valuation allowance	(104,513)	(83,980)
Total deferred tax assets, net of valuation allowance	959	1,047
Deferred tax liabilities:
Right-of-use assets—operating leases	(775)	(791)
Depreciation and amortization	(184)	(256)
Total deferred tax liabilities	(959)	(1,047)
Net deferred tax asset (liability)	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Taxes [Line Items]
Current state and local tax expense (benefit)		$ (2,100,000)
Income tax expense (benefit)	$ 0	(2,108,000)
Unrecognized tax benefits	0
Operating loss carryforwards not subject to expiration	220,700,000
Increase in valuation allowance	$ 20,500,000	19,900,000
Aggregate interest and penalties on uncertain tax positions		$ 507,000
Maximum [Member]
Income Taxes [Line Items]
Net operating losses carryforwards expiration year	2041 years
Minimum [Member]
Income Taxes [Line Items]
Net operating losses carryforwards expiration year	2023 years
Federal [Member]
Income Taxes [Line Items]
Net operating losses carryforwards	$ 24,700,000
Research and development tax credits carry forwards	38,300,000
State [Member]
Income Taxes [Line Items]
Net operating losses carryforwards	13,100,000
Research and development tax credits carry forwards	$ 800,000
Research And Development Tax Credit [Member] | Maximum [Member]
Income Taxes [Line Items]
Research and development tax credits carry forwards	2041 years
Research And Development Tax Credit [Member] | Minimum [Member]
Income Taxes [Line Items]
Research and development tax credits carry forwards	2027 years

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax Expense (Detail)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Federal income tax benefit at statutory rate	21%	21%
State income taxes, net of federal benefit	3%	3%
Permanent differences-primarily share-based compensation	(1.00%)
Research and development tax credits	6%	8%
Reversal of the liability for uncertain tax positions		4%
Other		1%
Change in valuation allowance	(29.00%)	(33.00%)
Effective income tax rate	0%	4%

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of the Unrecognized Tax Benefit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Balance at beginning of the year	$ 0	$ 1,611
Reduction for expiration of statutes of limitations	0	(1,611)
Balance at end of the year	$ 0	$ 0

Accrued and Other Liabilities -

Accrued and Other Liabilities - Schedule of Accrued and Other Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Payables And Accruals [Abstract]
Research and development and related items	$ 7,475	$ 11,045
Compensation	3,449	2,890
General and administrative and other	803	565
Total accrued and other liabilities	$ 11,727	$ 14,500

Accrued and Other Liabilities_2

Accrued and Other Liabilities - Additional information (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Accrued And Other Liabilities And Other Long Term Liabilities [Member]
Federal Employer Payroll Taxes Deferred Pursuant To The CARES Act	$ 0.2	$ 0.4

Defined Contribution Plan - Add

Defined Contribution Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Defined Contribution Plan Disclosure [Line Items]
Percentage of deferred compensation	25%
Total matching contributions to the plan	$ 506,000	$ 381,000
Maximum [Member]
Defined Contribution Plan Disclosure [Line Items]
Percentage of deferred compensation match by employer	4%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	12 Months Ended
	Jun. 30, 2022 Agreement
Licenses [Member]
Loss Contingencies [Line Items]
Number of license agreements	4

Stockholders' Equity and Rela_3

Stockholders' Equity and Related Matters - Additional Information (Detail) - USD ($)					12 Months Ended
	Aug. 31, 2022	Jul. 15, 2022	Mar. 24, 2022	Feb. 01, 2021	Jun. 30, 2022	Jun. 30, 2021	Jul. 01, 2021	Apr. 02, 2021
Class of Stock [Line Items]
Common stock, shares issued				16,741,573	51,010,648	42,835,000
Common stock, shares authorized					150,000,000	150,000,000
Common stock, par value					$ 0.001	$ 0.001
Common stock, shares outstanding					50,957,028	42,794,000
Preferred stock, par value					$ 0.001	$ 0.001
Preferred stock, shares issued					0	0
Preferred stock, shares outstanding					0	0
Aggregate proceeds received				$ 74,500,000	$ 9,207,000	$ 69,261,000
Payments of Stock Issuance Costs				$ 5,200,000
Shares Issued, Price Per Share			$ 1.3	$ 4.45
Maximum number of stocks acquired by outstanding warrants				8,370,786
Exercise Price of Warrants or Rights				$ 6
Warrants and Rights Outstanding, Maturity Date				Feb. 01, 2026
Warrants Exercised					0
Aggregate offering price								$ 50,000,000
Stock issued during period, shares, issued for services
Number of Shares Issued in Transaction
Restricted Stock [Member]
Class of Stock [Line Items]
Stock issued during period, shares, issued for services					22,500
Cantor Fitzgerald And Co [Member]
Class of Stock [Line Items]
Common stock, shares issued			7,500,000
Aggregate proceeds received			$ 9,800,000
Payments of Stock Issuance Costs			$ 1,200,000
Unpaid issuance costs					$ 140,000
Percentage of compensation cost on gross sales price of shares								3%
Cantor Fitzgerald And Co [Member] | Controlled Equity Offering Sales Agreement or Sales Agreement [Member]
Class of Stock [Line Items]
Number of shares issued during the period					230,478
Net proceeds received from issuance of common stock					$ 519,000
Cantor Fitzgerald And Co [Member] | Over-Allotment Option [Member]
Class of Stock [Line Items]
Common stock issued during the period, expired					1,125,000
Subsequent Event [Member]
Class of Stock [Line Items]
Stock issued during period, shares, issued for services	7,500
Subsequent Event [Member] | Over-Allotment Option [Member]
Class of Stock [Line Items]
Shares Issued, Price Per Share		$ 0.001
Number of shares issued during the period		2,500,000
Equity and Incentive Plan 2013 [Member]
Class of Stock [Line Items]
Increase in common stock capital shares reserved for future issuance							2,038,281
Increase in equity and incentive plan, percentage							4%

Stockholders' Equity and Rela_4

Stockholders' Equity and Related Matters - Shares of Common Stock Reserved for Future Issuance (Detail)	Jun. 30, 2022 shares
Class Of Stock [Line Items]
Common stock reserved for future issuance	15,858,530
Employee Stock Purchase Plan 2013 [Member]
Class Of Stock [Line Items]
Common stock reserved for future issuance	128,571
Equity and Incentive Plan 2013 [Member]
Class Of Stock [Line Items]
Common stock reserved for future issuance	1,592,820
Stock Options Issued and Outstanding [Member]
Class Of Stock [Line Items]
Common stock reserved for future issuance	5,566,728
Restricted Stock [Member]
Class Of Stock [Line Items]
Common stock reserved for future issuance	199,625
Warrant [Member]
Class Of Stock [Line Items]
Common stock reserved for future issuance	8,370,786

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Jul. 15, 2022	Feb. 01, 2021	Jun. 30, 2022	Sep. 27, 2022	Mar. 24, 2022
Subsequent Event [Line Items]
Shares Issued, Price Per Share		$ 4.45			$ 1.3
Proceeds from Issuance Initial Public Offering			$ 9
Payments of Stock Issuance Costs		$ 5.2
Exercise Price of Warrants or Rights		$ 6
Warrants and Rights Outstanding, Maturity Date		Feb. 01, 2026
Common Stock [Member]
Subsequent Event [Line Items]
Number of new stock issued during the period.			7,753,000
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Share Price	$ 0.599
Subsequent Event [Member] | Pre Funded Warrants [Member]
Subsequent Event [Line Items]
Class Of Warrants and Rights Issued During the Period	591,667
Class Of Warrants and Rights Issued, Price Per Warrant	$ 0.001
Number of warrants or rights outstanding.				19,166,667
Exercise Price of Warrants or Rights				$ 0.6
Warrants and Rights Outstanding, Maturity Date				Jul. 15, 2027
Subsequent Event [Member] | Over-Allotment Option [Member]
Subsequent Event [Line Items]
Number of new stock issued during the period.	2,500,000
Shares Issued, Price Per Share	$ 0.001
Subsequent Event [Member] | Underwritten Public Offering [Member]
Subsequent Event [Line Items]
Number of new stock issued during the period.	16,075,000
Shares Issued, Price Per Share	$ 0.6
Proceeds from Issuance Initial Public Offering	$ 10
Payments of Stock Issuance Costs	$ 1

Quarterly Financial Informati_3

Quarterly Financial Information - Summary of Quarterly Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2022	Jun. 30, 2021
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 325				$ 500				$ 325	$ 500
Loss from operations	(17,724)	$ (13,583)	$ (18,443)	$ (16,425)	(13,786)	$ (14,488)	$ (15,115)	$ (15,062)	(66,175)	(58,451)
Net loss	$ (18,386)	$ (14,294)	$ (19,144)	$ (17,119)	$ (12,136)	$ (14,851)	$ (15,462)	$ (15,380)	$ (68,943)	$ (57,829)
Net income (loss) per common share, basic	$ (0.36)	$ (0.33)	$ (0.45)	$ (0.4)	$ (0.28)	$ (0.4)	$ (0.6)	$ (0.6)	$ (1.53)	$ (1.77)
Net income (loss) per common share, diluted	$ (0.36)	$ (0.33)	$ (0.45)	$ (0.4)	$ (0.28)	$ (0.4)	$ (0.6)	$ (0.6)	$ (1.53)	$ (1.77)