EyePoint Pharmaceuticals (EYPT) 10-Q 9 Nov 18 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2018	Nov. 05, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Trading Symbol	EYPT
Entity Registrant Name	EyePoint Pharmaceuticals, Inc.
Entity Central Index Key	1,314,102
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		94,855,705

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018
Current assets:
Cash and cash equivalents	$ 55,764	$ 38,776
Accounts and other receivables	489	353
Prepaid expenses and other current assets	1,389	780
Total current assets	57,642	39,909
Property and equipment, net	320	253
Intangible assets, net	30,743	31,358
Restricted cash	150	150
Total assets	88,855	71,670
Current liabilities:
Accounts payable	4,075	2,940
Accrued expenses	3,343	3,723
Accrued development milestone	15,000	15,000
Total current liabilities	22,418	21,663
Long-term debt	17,463	17,309
Derivative liability	0	19,780
Other long-term liabilities	1,269	1,231
Total liabilities	41,150	59,983
Stockholders' equity:
Preferred stock, $.001 par value, 5,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $.001 par value, 150,000,000 shares authorized, 94,696,272 and 74,512,048 shares issued and outstanding at September 30, 2018 and June 30, 2018, respectively	95	74
Additional paid-in capital	443,671	374,766
Accumulated deficit	(396,899)	(363,991)
Accumulated other comprehensive income	838	838
Total stockholders' equity	47,705	11,687
Total liabilities and stockholders' equity	$ 88,855	$ 71,670

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Jun. 30, 2018
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	94,696,272	74,512,048
Common stock, shares outstanding	94,696,272	74,512,048

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Total revenues	$ 486	$ 385
Operating expenses:
Research and development	6,233	3,819
Sales and marketing	3,646	0
General and administrative	4,161	2,572
Total operating expenses	14,040	6,391
Operating loss	(13,554)	(6,006)
Interest and other income, net	129	23
Interest expense	(815)	0
Change in fair value of derivative liability	(18,886)	0
Net loss	$ (33,126)	$ (5,983)
Net loss per common share:
Basic and diluted	$ (0.44)	$ (0.15)
Weighted average common shares:
Basic and diluted	75,170	39,430
Net loss	$ (33,126)	$ (5,983)
Other comprehensive income:
Foreign currency translation adjustments	0	4
Other comprehensive income	0	4
Comprehensive loss	(33,126)	(5,979)
Collaborative Research and Development [Member]
Revenues:
Total revenues	56	140
Royalty Income [Member]
Revenues:
Total revenues	$ 430	$ 245

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income [Member]
Balance at Jun. 30, 2017	$ 13,336	$ 39	$ 323,284	$ (310,820)	$ 833
Balance, shares at Jun. 30, 2017		39,356,999
Net loss	(5,983)	$ 0	0	(5,983)	0
Other comprehensive income	4	0	0	0	4
Issuance of stock, net of issue costs	963	$ 1	962	0	0
Issuance of stock, shares		843,784
Stock-based compensation	681	$ 0	681	0	0
Balance at Sep. 30, 2017	9,001	$ 40	324,927	(316,803)	837
Balance, shares at Sep. 30, 2017		40,200,783
Balance at Jun. 30, 2018	$ 11,687	$ 74	374,766	(363,991)	838
Balance, shares at Jun. 30, 2018	74,512,048	74,512,048
Net loss	$ (33,126)	$ 0	0	(33,126)	0
Exercise of warrants	28,863	$ 21	28,842	0	0
Other comprehensive income	0
Exercise of warrants , shares		20,184,224
Settlement of derivative liability	$ 38,666	$ 0	$ 38,666	$ 0	$ 0
Settlement of derivative liability, shares	0	0	0	0	0
Stock-based compensation	$ 1,397	$ 0	$ 1,397	$ 0	$ 0
Balance at Sep. 30, 2018	$ 47,705	$ 95	443,671	(396,899)	838
Balance, shares at Sep. 30, 2018	94,696,272	94,696,272
Cumulative effect adjustment for adoption of new accounting principle	$ 218	$ 0	$ 0	$ 218	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018
Cash flows from operating activities:
Net loss	$ (33,126)	$ (5,983)
Adjustments to reconcile net loss to cash flows used in operating activities:
Amortization of intangible assets	615	182	$ 981
Depreciation of property and equipment	43	39
Amortization of debt discount	154	0
Stock-based compensation expense	1,397	681
Change in fair value of derivative liability	18,886	0
Changes in operating assets and liabilities:
Accounts receivable and other current assets	(529)	129
Accounts payable and accrued expenses	756	(972)
Deferred revenue	0	(40)
Deferred rent	38	(4)
Net cash used in operating activities	(11,766)	(5,968)
Cash flows from investing activities:
Purchases of property and equipment	(109)	(64)
Net cash used in investing activities	(109)	(64)
Cash flows from financing activities:
Proceeds from exercise of warrants	28,863	0
Proceeds from issuance of stock, net of issuance costs	0	963
Net cash provided by financing activities	28,863	963
Effect of foreign exchange rate changes on cash and cash equivalents	0	4
Net increase (decrease) in cash, cash equivalents and restricted cash	16,988	(5,065)
Cash, cash equivalents and restricted cash at beginning of period	38,926	17,048	17,048
Cash, cash equivalents and restricted cash at end of period	55,914	11,983	$ 38,926
Supplemental cash flow information:
Cash interest paid	$ 583	$ 0

Operations and Basis of Present

Operations and Basis of Presentation	3 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operations and Basis of Presentation	1. Operations and Basis of Presentation The accompanying condensed consolidated financial statements of EyePoint Pharmaceuticals, Inc. and subsidiaries (collectively, the “Company”) as of September 30, 2018 and for the three months ended September 30, 2018 and 2017 are unaudited. Certain information in the footnote disclosures of these financial statements has been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and footnotes included in its Annual Report on Form 10-K The Company is a specialty biopharmaceutical company committed to developing and commercializing innovative ophthalmic products for the treatment of eye diseases. Following U.S. Food and Drug Administration (“FDA”) approval of DEXYCU™ and YUTIQ™, the Company is targeting the direct U.S. commercial launch of YUTIQ in the first quarter of calendar 2019 and DEXYCU in the first half of calendar 2019. DEXYCU™ (dexamethasone intraocular suspension) 9%, approved by the FDA in February 2018 for the treatment of post-operative inflammation, is administered as a single dose at the end of ocular surgery and is the first long-acting intraocular product approved by the FDA for the treatment of post-operative inflammation. DEXYCU utilizes the Company’s proprietary Verisome ® YUTIQ™, a non-erodible non-infectious ILUVIEN ® ® The Company has financed its operations primarily from sales of equity securities, issuance of debt and the receipt of license fees, milestone payments, research and development funding and royalty income from its collaboration partners. The Company has a history of operating losses and, to date, has not had significant recurring cash inflows from revenue. The Company’s anticipated recurring use of cash to fund operations in combination with no probable source of additional capital raises substantial doubt about its ability to continue as a going concern for one year from the issuance of its financial statements. The Company received proceeds of $28.9 million in late September 2018 from the exercise of investor warrants (the “Second Tranche Warrants) (see Note 8) and had total cash and cash equivalents of $55.8 million at September 30, 2018. The Company believes that its cash and cash equivalents of $55.8 million at September 30, 2018, and expected proceeds from existing collaboration agreements, will enable the Company to maintain its current and planned operations (including continuation of its two Phase 3 clinical trials for YUTIQ and plans for the U.S. commercial launch of both DEXYCU and YUTIQ) into the second quarter of calendar year 2019. In order to extend the Company’s ability to fund its operations beyond then, management’s plans include obtaining additional equity financing and/or additional debt financing and/or, as applicable, reducing or deferring operating expenses. The timing and extent of the Company’s implementation of these plans is expected to depend on the amount and timing of cash receipts from existing or any future collaborations or other agreements and/or proceeds from any financing transactions. There is no assurance that the Company will receive significant revenues from its planned commercialization of DEXYCU or YUTIQ, or from its product license revenues under existing collaboration agreements or be able to obtain financing from any other sources. Recently Adopted and Recently Issued Accounting Pronouncements New accounting pronouncements are issued periodically by the Financial Accounting Standards Board (“FASB”) and are adopted by the Company as of the specified effective dates. Unless otherwise disclosed below, the Company believes that recently issued and adopted accounting pronouncements will not have a material impact on the Company’s financial position, results of operations and cash flows or do not apply to the Company’s operations. The Company adopted Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers In February 2016, the FASB issued ASU No. 2016-02, Leases right-of-use 2016-02 In June 2018, the FASB issued ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting 2018-07,

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations, and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue. Collaborative research and development revenue non-refundable up-front If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. The Company recognizes sales-based milestone payments as revenue upon the achievement of the cumulative sales amount specified in the contract in accordance with ASC 606-10-55-65. When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, Reimbursement of costs Royalties 606-10-55-65, true-up true-up Feasibility Studies Please refer to Note 4 for further details on the license and collaboration agreements into which the Company has entered and corresponding amounts of revenue recognized during the current and prior year periods.

Acquisition of Icon Bioscience,

Acquisition of Icon Bioscience, Inc.	3 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Acquisition of Icon Bioscience, Inc.	3. Acquisition of Icon Bioscience, Inc. On March 28, 2018, the Company and its newly-created wholly-owned subsidiary, Oculus Merger Sub, Inc., acquired Icon, a specialty biopharmaceutical company, through a reverse triangular merger (the “Icon Acquisition”) pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) between the Company, Icon, and Shareholder Representative Services LLC (“SRS”), solely in its capacity as representative of Icon’s securityholders. The Icon Acquisition was accounted for as an asset acquisition because substantially all of the fair value of the gross assets acquired were deemed to be concentrated in a group of similar identifiable assets related to Icon’s lead product, DEXYCU. A portion of the Icon Acquisition was funded by an equity financing and a debt financing, both of which closed concurrently with the Icon Acquisition (see Notes 7 and 8). Pursuant to the Merger Agreement, the Company made a closing payment of $15.0 million to SRS, net of an estimated $127,000 working capital adjustment, and is obligated to pay certain post-closing contingent cash payments upon the achievement of specified milestones and based upon certain net sales and partnering revenue standards, in each case subject to the terms and conditions set forth in the Merger Agreement. These include but are not limited to (i) a one-time earn-out earn-out earn-out earn-out The purchase price on the date of the Icon Acquisition was $32.0 million, comprising the closing consideration of $15.0 million, including the assumption of an estimated $127,000 of net current liabilities of Icon, the contingent development milestone payment of $15.0 million and transaction costs of approximately $2.0 million. Given the stage of development of DEXYCU, the Company determined these payments did not represent research and development costs. The contingent consideration in the form of sales milestones will be capitalized as additional intangible assets when any such consideration becomes probable and can be reasonably estimated. Sales-based royalty payments will be expensed as incurred. The $32.0 million purchase price was allocated to a single finite-lived intangible asset with an expected amortization life of approximately 13 years. The intangible asset is being amortized on a straight-line basis over that period. The acquisition did not have a net tax impact due to a full valuation allowance against the acquired net deferred tax assets.

License and Collaboration Agree

License and Collaboration Agreements	3 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
License and Collaboration Agreements	4. License and Collaboration Agreements Alimera Under a collaboration agreement with Alimera, as amended in March 2008 (the “Prior Alimera Agreement”), the Company licensed to Alimera the rights to develop, market and sell certain product candidates, including ILUVIEN for DME, and Alimera assumed all financial responsibility for the development of the licensed products. In addition, the Company was entitled to receive 20% of any net profits (as defined) on sales of each licensed product (including ILUVIEN) by Alimera, measured on a quarter-by-quarter country-by-country non-royalty On July 10, 2017, the Company entered into a further amended and restated collaboration agreement (the “Amended Alimera Agreement”), pursuant to which the Company (i) licensed its three-year NIPU product candidate (called YUTIQ in the U.S. and planned to be called ILUVIEN in Europe, the Middle East and Africa (“EMEA”)) to Alimera for the EMEA and (ii) converted the net profit share arrangement for each licensed product (including ILUVIEN) under the Prior Alimera Agreement to a sales-based royalty on a calendar quarter basis commencing July 1, 2017, with payments from Alimera due 60 days following the end of each quarter. Sales-based royalties start at the rate of 2%. Commencing January 1, 2019, the sales-based royalty will increase to 6% on aggregate calendar year net sales up to $75 million and 8% in excess of $75 million. Alimera’s share of contingently recoverable accumulated ILUVIEN commercialization losses under the Prior Alimera Agreement, capped at $25 million, are to be reduced as follows: (i) $10.0 million was cancelled in lieu of an upfront license fee on the effective date of the Amended Alimera Agreement; (ii) for calendar years 2019 and 2020, 50% of earned sales-based royalties in excess of 2% will be offset against the quarterly royalty payments otherwise due from Alimera; (iii) on January 1, 2020, another $5 million will be cancelled, provided, however, that such date of cancellation may be extended under certain circumstances related to Alimera’s regulatory approval process for the ILUVIEN three-year NIPU product candidate, with such extension, if any, subject to mutual agreement by the parties; and (iv) commencing in calendar year 2021, 20% of earned sales-based royalties in excess of 2% will be offset against the quarterly royalty payments due from Alimera until such time as the balance of the original $25 million of recoverable commercialization losses has been fully recouped. Following the completion of the Amended Alimera Agreement, the Company withdrew its previously filed EU marketing approval application and its EU orphan drug designation for YUTIQ, and Alimera was responsible for filing a Type II variation for ILUVIEN for the treatment of NIPU. In January 2018, Alimera received validation of a Type II variation submitted in December 2017 in all seventeen European countries in which it previously received regulatory approval for ILUVIEN for DME. If the variation is approved, Alimera plans to commercialize the indication for NIPU under its ILUVIEN trademark. Revenue under the Prior Alimera Agreement and/or the Amended Alimera Agreement totaled $249,000 and $90,000 for the three months ended September 30, 2018 and 2017, respectively. In addition to patent fee reimbursements in both periods, revenue included (i) $215,000 of accrued sales-based royalty income for the three months ended September 30, 2018 under the Amended Alimera Agreement and (ii) $50,000 of net profits received in the three months ended September 30, 2017 attributable to the fourth quarter of fiscal 2017 (recorded as collaborative research and development revenue under the Prior Alimera Agreement). Prior to the July 1, 2018 adoption of ASC 606, the Company had recorded royalties earned from Alimera one quarter in arrears. Under ASC 606, the Company is required to accrue royalty income based on an estimate of royalties earned in each fiscal quarter, with a true-up to actual in the following quarter. As a result, $218,000 of royalties earned for the quarter ended June 30, 2018 that would have been recorded as royalty income in the three months ended September 30, 2018 have been accounted for as a cumulative effect adjustment to beginning accumulated deficit at July 1, 2018. Bausch & Lomb Pursuant to a licensing and development agreement, as amended, Bausch & Lomb has a worldwide exclusive license to make and sell Retisert in return for royalties based on sales. Royalty income totaled $215,000 and $245,000 for the three months ended September 30, 2018 and 2017, respectively. Accounts receivable from Bausch & Lomb totaled $225,000 at September 30, 2018 and $306,000 at June 30, 2018. OncoSil Medical The Company entered into an exclusive, worldwide royalty-bearing license agreement in December 2012, amended and restated in March 2013, with OncoSil Medical UK Limited (f/k/a Enigma Therapeutics Limited), a wholly owned subsidiary of OncoSil Medical Ltd (“OncoSil”) for the development of BrachySil, the Company’s BioSilicon product candidate for the treatment of pancreatic and other types of cancer. The Company received an upfront fee of $100,000 and is entitled to 8% sales-based royalties, 20% of sublicense consideration and certain milestone payments based on aggregate product sales. OncoSil is obligated to pay an annual license maintenance fee of $100,000 by the end of each calendar year, the most recent of which was received in December 2017. For each calendar year commencing with 2014, the Company is entitled to receive reimbursement of any licensed patent maintenance costs, sales-based royalties and sub-licensee Evaluation Agreements The Company from time to time enters into funded agreements to evaluate the potential use of its technology systems for sustained release of third party drug candidates in the treatment of various diseases. Consideration received is generally recognized by the Company as revenue over the term of the feasibility study agreement. Revenues under evaluation agreements totaled $15,000 and $50,000 for the three months ended September 30, 2018 and 2017, respectively. At September 30, 2018 no deferred revenue was recorded for these agreements.

Intangible Assets

Intangible Assets	3 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets The reconciliation of intangible assets for the three months ended September 30, 2018 and for the year ended June 30, 2018 was as follows (in thousands): Three Months Year Ended Patented technologies Gross carrying amount at beginning of period $ 68,322 $ 35,610 Acquisition of Icon Bioscience Inc. — 31,973 Foreign currency translation adjustments — 739 Gross carrying amount at end of period 68,322 68,322 Accumulated amortization at beginning of period (36,964 ) (35,246 ) Amortization expense (615 ) (981 ) Foreign currency translation adjustments — (737 ) Accumulated amortization at end of period (37,579 ) (36,964 ) Net book value at end of period $ 30,743 $ 31,358 The Company amortizes its intangible assets with finite lives on a straight-line basis over their respective estimated useful lives. Amortization of intangible assets totaled $615,000 and $182,000 for the three months ended September 30, 2018 and 2017, respectively. In connection with the Icon Acquisition (see Note 3), the initial purchase price of $32.0 million was attributed to the DEXYCU product intangible asset. This finite-lived intangible asset is being amortized on a straight-line basis over its expected remaining useful life of 12.5 years at the rate of approximately $2.5 million per year.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Sep. 30, 2018
Payables and Accruals [Abstract]
Accrued Expenses	6. Accrued Expenses Accrued expenses consisted of the following at September 30, 2018 and June 30, 2018 (in thousands): September 30, June 30, Clinical trial costs $ 1,039 $ 742 Personnel costs 1,204 1,763 Professional fees 722 926 Interest 332 254 Other 46 38 $ 3,343 $ 3,723

Term Loan Agreement

Term Loan Agreement	3 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Term Loan Agreement	7. Term Loan Agreement On March 28, 2018 (the “Closing Date”), the Company entered into a Credit Agreement (the “Credit Agreement”) among the Company, as borrower, SWK Funding LLC, as agent (the “Agent”), and the lenders party thereto from time to time (the “Lenders”), providing for a senior secured term loan of up to $20 million (the “Loan”). On the Closing Date, $15 million of the Loan was advanced (the “Initial Advance”). The remaining $5 million of the Loan was advanced on June 26, 2018 following satisfaction of the Minimum Capital Raise (as defined in the Credit Agreement) (the “Additional Advance”). The Loan may be increased by $10 million upon the request of the Company, subject to the Agent obtaining additional loan commitments and satisfaction of certain conditions in the Credit Agreement. The Loan is due and payable on March 27, 2023 (the “Maturity Date”). The Loan bears interest at a per annum rate of the three-month LIBOR rate (subject to a 1.5% floor) plus 10.50%. The Credit Agreement permits the Company to pay interest only on the principal amount for the first eight payments (payments are due on a quarterly basis commencing May 15, 2018). Following the interest-only period, the Company will be required to make quarterly payments of interest, plus repayments of the principal in an aggregate amount of up to $1.67 million per quarter (the “Quarterly Principal Repayment Cap”). Subject to the Quarterly Principal Repayment Cap, the amount of any quarterly principal payments during any fiscal year of the Company is based on (x) a percentage of the year-to-date Upon the occurrence of a bankruptcy-related event of default, all amounts outstanding with respect to the Loan become due and payable immediately, and upon the occurrence of any other Event of Default (as defined in the Credit Agreement), all or any amounts outstanding with respect to the Loan may become due and payable upon request of the Agent or majority Lenders. Additionally, subject to certain exceptions, the Company is required to make mandatory prepayments of the Loan with the proceeds of assets sales and insurance proceeds. The Company may make a voluntary prepayment of the Loan, in whole, but not in part, at any time on or after the first anniversary of the Closing Date. All mandatory and voluntary prepayments of the Loan are subject to the payment of prepayment premiums as follows: (i) in the case of mandatory prepayments, if prepayment occurs prior to the first anniversary of the Closing Date, a customary make-whole amount equal to the amount of interest that would have accrued on the principal amount so prepaid had it remained outstanding through the first anniversary of the Closing Date, (ii) if prepayment occurs on or after the first anniversary of the Closing Date, but prior to the second anniversary of the Closing Date, 6% of the aggregate amount of the principal prepaid and (iii) if prepayment occurs on or after the second anniversary of the Closing Date, but prior to the third anniversary of the Closing Date, an amount equal to 1% of the principal prepaid. No prepayment premium is due on any principal prepaid on or after the third anniversary of the Closing Date. In connection with the Loan, the Company issued a warrant (the “SWK Warrant”) to the Agent to purchase (a) 409,091 shares of Company common stock (the “Initial Advance Warrant Shares”) at an exercise price equal to $1.10 and (b) 77,721 shares of Company common stock (the “Additional Advance Warrant Shares”) at an exercise price of $1.93 per share. The SWK Warrant is exercisable (i) with respect to the Initial Advance Warrant Shares, any time on or after the Closing Date until the close of business on the 7-year 7-year The total debt discount related to the Initial Advance was $2.1 million and was comprised of (1) $1.8 million which included the 1.5% upfront fee, the Exit Fee and legal and other transaction costs, which were ratably allocated to each of the two tranches of the Loan based upon the total principal amount available to the Company under each tranche and (2) $353,000 related to the aggregate fair value of the Initial Advance Warrant Shares and the Additional Advance Warrant Shares. This amount is being amortized as additional interest expense over the term of the Loan using the effective interest method. The total debt issue costs related to the Additional Advance was $299,000 and was comprised of the allocated portions of the 1.5% upfront fee and the Exit Fee. This amount was recorded as a prepaid expense to be amortized ratably from the Closing Date through December 31, 2018. Through the date of the Additional Advance, $97,000 was amortized and the remaining balance of $202,000 was reclassified to debt discount. Together with the 6% Exit Fee on the Additional Advance and other transaction costs, total debt discount of $652,000 associated with the Additional Advance is being amortized over the remaining life of the Additional Advance portion of the Loan using the effective interest method.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Sep. 30, 2018
Federal Home Loan Banks [Abstract]
Stockholders' Equity	8. Stockholders’ Equity 2018 Equity Financing On the Closing Date, the Company entered into a Securities Purchase Agreement (the “First Tranche Securities Purchase Agreement”) with EW Healthcare Partners, L.P. and EW Healthcare Partners-A, On the Closing Date, the Company entered into a Second Securities Purchase Agreement (the “Second Tranche Securities Purchase Agreement” and together with the First Tranche Securities Purchase Agreement, the “Securities Purchase Agreements”) with the First Tranche Investors and certain other accredited investors (collectively, the “Second Tranche Investors”). Following approval of the Company’s stockholders on June 22, 2018, the Company sold to the Second Tranche Investors an aggregate of 20,184,224 Units at a purchase price of $1.265 per Unit for gross proceeds of approximately $25.5 million. Each Unit consisted of (a) one share of the Company’s common stock and (b) one warrant to purchase a share of the Company’s common stock (the “Second Tranche Transaction” and together with the First Tranche Transaction, the “Equity Transactions”). The warrants issued in the Second Tranche Transaction (each a “Second Tranche Warrant,” and collectively, the “Second Tranche Warrants”) were exercisable any time until on or prior to the close of business on the 15th business day following the date on which the holders of the Second Tranche Warrants received written notice from the Company that CMS had announced that a new C-Code C-code The Company determined that the Second Tranche Warrants were considered puttable warrants that represented an obligation indexed to a repurchase of the Company’s shares and would require a transfer of assets that require classification as liabilities. The initial valuation of the Second Tranche Warrants on June 25, 2018 of $18.2 million was re-measured ATM Facility In February 2017, the Company entered into an ATM program pursuant to which, under its Form S-3 During the three months ended September 30, 2017, the Company sold 843,784 shares of its Common Stock under the ATM program at a weighted average price of $1.24 per share for gross proceeds of approximately $1.0 million. Share issue costs, including sales agent commissions, totaled $81,000 for the three months ended September 30, 2017. The Company did not sell any shares of its common stock pursuant to the ATM program during the three months ended September 30, 2018. At September 30, 2018, approximately $3.8 million of aggregate proceeds remains available to be utilized under the current ATM program. Warrants to Purchase Common Shares The following table provides a reconciliation of warrants to purchase shares of the Company’s common stock for the three months ended September 30, 2018 and 2017: Three Months Ended September 30, 2018 2017 Number of Weighted Number of Weighted Balance at beginning of period 486,812 $ 1.23 623,605 $ 2.50 Expired — — (623,605 ) 2.50 Balance and exercisable at end of period 486,812 $ 1.23 — $ — In connection with the Loan (see Note 7), the Company issued a warrant to purchase (i) 409,091 shares of Company common stock on March 28, 2018 at an exercise price of $1.10 per share with a seven-year term and (ii) 77,721 shares of Company common stock on June 26, 2018 at an exercise price of $1.93 per share with a seven-year term. At September 30, 2018 the weighted average remaining life of the warrants was 6.54 years. At June 30, 2018 a total of 20,184,224 Second Tranche Warrants were outstanding with a variable exercise price and, accordingly, were excluded from the above table. These warrants were exercised in full in late September 2018.

Share-Based Payment Awards

Share-Based Payment Awards	3 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Payment Awards	9. Share-Based Payment Awards Equity Incentive Plans The 2016 Long-Term Incentive Plan (the “2016 Plan”), approved by the Company’s stockholders on December 12, 2016 (the “Adoption Date”), provides for the issuance of up to 3,000,000 shares of the Company’s common stock reserved for issuance under the 2016 Plan plus any additional shares of the Company’s common stock that were available for grant under the 2008 Incentive Plan (the “2008 Plan”) at the Adoption Date or would otherwise become available for grant under the 2008 Plan as a result of subsequent termination or forfeiture of awards under the 2008 Plan. At September 30, 2018, a total of 1,497,886 shares were available for new awards. Stock Options The following table provides a reconciliation of stock option activity under the Company’s equity incentive plans for the three months ended September 30, 2018: Number of Weighted Weighted Aggregate (in years) (in thousands) Outstanding at July 1, 2018 6,460,244 $ 2.79 Granted 166,575 2.31 Forfeited (10,600 ) 2.76 Expired (156,750 ) 2.85 Outstanding at September 30, 2018 6,459,469 $ 2.76 7.26 $ 6,203 Exercisable at September 30, 2018 3,151,142 $ 3.34 5.20 $ 1,747 During the three months ended September 30, 2018, the Company granted 115,000 options to employees with ratable annual vesting over 3 years, 1,667 options to a non-executive 1-year 1-year 10-year Option life (in years) 5.50 - 6.00 Stock volatility 59% - 60% Risk-free interest rate 2.78% -2.90% Expected dividends 0.0% Options to purchase a total of 401,558 shares of the Company’s common stock vested during the three months ended September 30, 2018. Time-Vested Restricted Stock Units Time-vested restricted stock unit awards (“RSUs”) issued to date under the 2016 Plan generally vest on a ratable annual basis over 3 years. The related stock-based compensation expense is recorded over the requisite service period, which is the vesting period. The fair value of all time-vested RSUs is based on the closing share price of the Company’s common stock on the date of grant. The following table provides a reconciliation of RSU activity under the 2016 Plan for the three months ended September 30, 2018: Number of Weighted Nonvested at July 1, 2018 898,129 $ 1.58 Forfeited (2,300 ) 1.81 Nonvested at September 30, 2018 895,829 $ 1.58 At September 30, 2018, the weighted average remaining vesting term of the RSUs was 1.09 years. Performance-Based Stock Units Performance Stock Units (“PSUs”) were previously awarded to certain employees. The performance conditions associated with the PSU awards are as follows: (a) for one third of the PSUs, upon an FDA acceptance of the Company’s NDA submission of YUTIQ for review on or before March 31, 2018 and (b) for two-thirds There were 241,668 PSUs outstanding at each of September 30, 2018 and June 30, 2018. The weighted average remaining vesting term of the time-based RSUs associated with achievement of the first performance condition was approximately 5.6 months at September 30, 2018. Deferred Stock Units The following table provides a reconciliation of deferred stock units (“DSUs”) for the three months ended September 30, 2018: Number of Weighted Outstanding at July 1, 2018 35,001 $ 1.95 Granted 417 2.32 Outstanding at September 30, 2018 35,418 $ 1.95 Each DSU vests one year from the date of grant. Subsequent to vesting, the DSUs will be settled in shares of the Company’s common stock upon the earliest to occur of (i) each director’s termination of service on the Company’s Board of Directors and (ii) the occurrence of a change of control as defined in the award agreement. At September 30, 2018, the weighted average remaining vesting term of the DSUs was approximately 8.8 months. Market-Based Restricted Stock Units At September 30, 2018 and June 30, 2018, there were 500,000 market-based RSUs (“market-based RSUs”) outstanding that were issued on September 15, 2016 as an inducement award to the Company’s President and CEO Subject to a service condition through September 15, 2019, the number of shares underlying the market-based RSUs that will vest will be based upon a relative percentile rank of the 3-year Other Inducement Grants In connection with the August 1, 2018 hire of the Company’s Chief Financial Officer, the Company granted as inducement awards (i) 385,000 options to purchase Company common stock with ratable annual vesting over 3 years and an exercise price of $2.22 per share; and (ii) 225,000 PSUs. The PSUs are subject to proportional vesting based on cumulative measurement for the 3-year two-thirds one-third In connection with the August 14, 2018 hire of the Company’s Senior Vice President of Regulatory and Quality, the Company granted as an inducement award 100,000 options to purchase Company common stock with ratable annual vesting over 3 years and an exercise price of $2.10 per share. In determining the grant date fair value of inducement option awards during the three months ended September 30, 2018, the Company applied the Black-Scholes option pricing model based on the following key assumptions: Option life (in years) 6.00 Stock volatility 59% - 60% Risk-free interest rate 2.81% - 2.92% Expected dividends 0.0% The inducement option grants have a 10-year The following table provides a reconciliation of the Company’s inducement stock option awards for the three months ended September 30, 2018: Number of Weighted Weighted Aggregate (in years) (in thousands) Outstanding at July 1, 2018 1,290,000 $ 3.06 Granted 485,000 2.20 Forfeited (250,000 ) 1.95 Outstanding at September 30, 2018 1,525,000 $ 2.96 7.60 $ 975 Exercisable at September 30, 2018 615,000 $ 3.11 5.58 $ 308 Stock-Based Compensation Expense The Company’s consolidated statements of comprehensive loss included total compensation expense from stock-based payment awards for the three months ended September 30, 2018 and 2017, as follows (in thousands): Three Months 2018 2017 Compensation expense included in: Research and development $ 486 $ 304 Sales and marketing 263 — General and administrative 648 377 $ 1,397 $ 681 In connection with termination benefits provided to the Company’s former Executive Vice President and General Manager, US, the vesting of certain options was accelerated in accordance with the terms of the options, with an exercise period through December 26, 2018. All remaining non-vested At September 30, 2018, there was approximately $5.2 million of unrecognized compensation expense related to outstanding equity awards under the 2016 Plan, the 2008 Plan and the inducement awards that is expected to be recognized as expense over a weighted-average period of approximately 1.6 years.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. Fair Value Measurements The following tables summarize the Company’s assets and liabilities carried at fair value measured on a recurring basis at September 30, 2018 and June 30, 2018 by valuation hierarchy (in thousands): September 30, 2018 Total Quoted prices in Significant other Significant Assets: Cash equivalents $ 25,955 $ 25,955 $ — $ — $ 25,955 $ 25,955 $ — $ — June 30, 2018 Total carrying value Quoted prices in Significant other Significant Assets: Cash equivalents $ 28,826 $ 28,826 $ — $ — $ 28,826 $ 28,826 $ — $ — Liabilities: Derivative liabilities $ 19,780 $ — $ — $ 19,780 $ 19,780 $ — $ — $ 19,780 Financial instruments that potentially subject the Company to concentrations of credit risk have historically consisted principally of cash and cash equivalents. At September 30, 2018 and June 30, 2018, substantially all of the Company’s interest-bearing cash equivalent balances were concentrated in one U.S. Government institutional money market fund that has investments consisting primarily of U.S. Government Agency debt, U.S. Treasury Repurchase Agreements and U.S. Government Agency Repurchase Agreements. These deposits may be redeemed upon demand and, therefore, generally have minimal risk. The Company’s cash equivalents are classified within Level 1 on the basis of valuations using quoted market prices. Upon the closing of the Second Tranche Transaction on June 25, 2018, the Company issued the Second Tranche Warrants, which were determined to be liability classified, which required that the liability be measured at fair value each period with changes in fair value being recorded as a component of net loss in the consolidated statement of comprehensive loss. This valuation was determined to be a level 3 valuation because it included unobservable inputs. The Second Tranche Warrants were valued using a Monte Carlo simulation valuation model. This model incorporated several inputs, including the closing price of the Company’s common stock on the date of valuation, the historical share price volatility over the expected term and the risk-free interest rate. The resulting derivative liability at June 30, 2018 was $19.8 million. Significant assumptions used to re-measure The Second Tranche Investors delivered exercise notices covering all of the Second Tranche Warrants during the period from September 25 - 28, 2018 (see Note 8). The Company revalued the Second Tranche Warrants liability immediately prior to the respective exercise notice dates of the Second Tranche Investors, measured as the excess of the closing share price on the exercise notice date over the actual warrant exercise price of $1.43 per share times the number of shares purchased. The resulting liability balance was then reclassified to equity. The following table sets forth a summary of changes in the fair value of the Company’s derivative liability for which fair value is determined by Level 3 inputs (in thousands): Second Tranche Balance at June 30, 2018 $ 19,780 Change in fair value 18,886 Reclassification to equity (38,666 ) Balance at September 30, 2018 $ —

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The Company recognizes deferred tax assets and liabilities for estimated future tax consequences of events that have been recognized in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is established if, based on management’s review of both positive and negative evidence, it is more likely than not that all or a portion of the deferred tax assets will not be realized. Because of its historical losses from operations, the Company established a valuation allowance for the net deferred tax assets. The Company did not record any income tax expense or benefit for the three months ended September 30, 2018 and 2017. For the three months ended September 30, 2018 and 2017, the Company had no significant unrecognized tax benefits. At September 30, 2018 and June 30, 2018, the Company had no accrued penalties or interest related to uncertain tax positions. On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Act”) was enacted which, amongst other corporate and individual tax law changes, lowered the federal corporate income tax rate from 34% to 21% effective January 1, 2018. Because the Company provides a full valuation allowance for all of its net deferred tax assets, there is no effect of the Tax Act on the Company’s consolidated financial statements as of and for the three months ended September 30, 2018.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Operating Leases On May 17, 2018, the Company entered into a Second Amendment (the “Second Amendment”) to its lease in Watertown, Massachusetts. The original 5-year Commencing July 1, 2017, the Company leased approximately 3,000 square feet of office space in Liberty Corner, New Jersey under a lease term extending through June 2022, with two five-year renewal options at 95% of the then-prevailing market rates. In addition to base rent, the Company is obligated to pay its proportionate share of building operating expenses and real estate taxes in excess of base year amounts. In June 2018, the Company subleased an additional 1,381 square feet of adjoining space from Caladrius Biosciences, Inc. (“Caladrius”) through May 2022. The Chief Executive Officer of Caladrius is a director of the Company. Legal Proceedings The Company is subject to various other routine legal proceedings and claims incidental to its business, which management believes will not have a material effect on the Company’s financial position, results of operations or cash flows.

Net Loss per Share

Net Loss per Share	3 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Net Loss per Share	13. Net Loss per Share Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. For periods in which the Company reports net income, diluted net income per share is determined by adding to the basic weighted average number of common shares outstanding the total number of dilutive common equivalent shares using the treasury stock method, unless the effect is anti-dilutive. Potentially dilutive shares were not included in the calculation of diluted net loss per share for each of the three months ended September 30, 2018 and 2017 as their inclusion would be anti-dilutive. Potential common stock equivalents excluded from the calculation of diluted earnings per share because the effect would have been anti-dilutive were as follows: Three Months Ended 2018 2017 Options outstanding 7,984,469 5,740,155 Warrants outstanding 486,812 — Restricted stock units outstanding 1,395,829 948,500 Performance stock units outstanding 466,668 210,000 Deferred stock units outstanding 35,418 — 10,369,196 6,898,655

Subsequent Event

Subsequent Event	3 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Event	14. Subsequent Event On November 1, 2018, the Board of Directors approved a change in the Company’s fiscal year from June 30 to December 31, effective immediately. The Company will file a transition report on Form 10-KT

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations, and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue. Collaborative research and development revenue non-refundable up-front If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. The Company recognizes sales-based milestone payments as revenue upon the achievement of the cumulative sales amount specified in the contract in accordance with ASC 606-10-55-65. When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, Reimbursement of costs Royalties 606-10-55-65, true-up true-up Feasibility Studies

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Reconciliation of Intangible Assets	The reconciliation of intangible assets for the three months ended September 30, 2018 and for the year ended June 30, 2018 was as follows (in thousands): Three Months Year Ended Patented technologies Gross carrying amount at beginning of period $ 68,322 $ 35,610 Acquisition of Icon Bioscience Inc. — 31,973 Foreign currency translation adjustments — 739 Gross carrying amount at end of period 68,322 68,322 Accumulated amortization at beginning of period (36,964 ) (35,246 ) Amortization expense (615 ) (981 ) Foreign currency translation adjustments — (737 ) Accumulated amortization at end of period (37,579 ) (36,964 ) Net book value at end of period $ 30,743 $ 31,358

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Sep. 30, 2018
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following at September 30, 2018 and June 30, 2018 (in thousands): September 30, June 30, Clinical trial costs $ 1,039 $ 742 Personnel costs 1,204 1,763 Professional fees 722 926 Interest 332 254 Other 46 38 $ 3,343 $ 3,723

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Sep. 30, 2018
Federal Home Loan Banks [Abstract]
Summary of Reconciliation of Warrants to Purchase Common Stock	The following table provides a reconciliation of warrants to purchase shares of the Company’s common stock for the three months ended September 30, 2018 and 2017: Three Months Ended September 30, 2018 2017 Number of Weighted Number of Weighted Balance at beginning of period 486,812 $ 1.23 623,605 $ 2.50 Expired — — (623,605 ) 2.50 Balance and exercisable at end of period 486,812 $ 1.23 — $ —

Share-Based Payment Awards (Tab

Share-Based Payment Awards (Tables)	3 Months Ended
	Sep. 30, 2018
Stock Option Activity Under Plan	The following table provides a reconciliation of the Company’s inducement stock option awards for the three months ended September 30, 2018: Number of Weighted Weighted Aggregate (in years) (in thousands) Outstanding at July 1, 2018 1,290,000 $ 3.06 Granted 485,000 2.20 Forfeited (250,000 ) 1.95 Outstanding at September 30, 2018 1,525,000 $ 2.96 7.60 $ 975 Exercisable at September 30, 2018 615,000 $ 3.11 5.58 $ 308
Schedule of Key Assumptions Used	In determining the grant date fair value of option awards under the 2016 Plan during the three months ended September 30, 2018, the Company applied the Black-Scholes option pricing model based on the following key assumptions: Option life (in years) 5.50 - 6.00 Stock volatility 59% - 60% Risk-free interest rate 2.78% -2.90% Expected dividends 0.0%
Summary of Restricted Stock Unit Activity	The following table provides a reconciliation of RSU activity under the 2016 Plan for the three months ended September 30, 2018: Number of Weighted Nonvested at July 1, 2018 898,129 $ 1.58 Forfeited (2,300 ) 1.81 Nonvested at September 30, 2018 895,829 $ 1.58
Summary of Deferred Stock Unit Activity	The following table provides a reconciliation of deferred stock units (“DSUs”) for the three months ended September 30, 2018: Number of Weighted Outstanding at July 1, 2018 35,001 $ 1.95 Granted 417 2.32 Outstanding at September 30, 2018 35,418 $ 1.95
Compensation Expense from Stock-Based Payment Awards	The Company’s consolidated statements of comprehensive loss included total compensation expense from stock-based payment awards for the three months ended September 30, 2018 and 2017, as follows (in thousands): Three Months 2018 2017 Compensation expense included in: Research and development $ 486 $ 304 Sales and marketing 263 — General and administrative 648 377 $ 1,397 $ 681
2016 Long Term Incentive Plan [Member]
Stock Option Activity Under Plan	The following table provides a reconciliation of stock option activity under the Company’s equity incentive plans for the three months ended September 30, 2018: Number of Weighted Weighted Aggregate (in years) (in thousands) Outstanding at July 1, 2018 6,460,244 $ 2.79 Granted 166,575 2.31 Forfeited (10,600 ) 2.76 Expired (156,750 ) 2.85 Outstanding at September 30, 2018 6,459,469 $ 2.76 7.26 $ 6,203 Exercisable at September 30, 2018 3,151,142 $ 3.34 5.20 $ 1,747
Other Inducement Grants [Member]
Schedule of Key Assumptions Used	In determining the grant date fair value of inducement option awards during the three months ended September 30, 2018, the Company applied the Black-Scholes option pricing model based on the following key assumptions: Option life (in years) 6.00 Stock volatility 59% - 60% Risk-free interest rate 2.81% - 2.92% Expected dividends 0.0%

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Assets and Liabilities Carried at Fair Value Measured on Recurring Basis	The following tables summarize the Company’s assets and liabilities carried at fair value measured on a recurring basis at September 30, 2018 and June 30, 2018 by valuation hierarchy (in thousands): September 30, 2018 Total Quoted prices in Significant other Significant Assets: Cash equivalents $ 25,955 $ 25,955 $ — $ — $ 25,955 $ 25,955 $ — $ — June 30, 2018 Total carrying value Quoted prices in Significant other Significant Assets: Cash equivalents $ 28,826 $ 28,826 $ — $ — $ 28,826 $ 28,826 $ — $ — Liabilities: Derivative liabilities $ 19,780 $ — $ — $ 19,780 $ 19,780 $ — $ — $ 19,780
Summary of Changes in the Fair Value of the Company's Derivative Liability	The following table sets forth a summary of changes in the fair value of the Company’s derivative liability for which fair value is determined by Level 3 inputs (in thousands): Second Tranche Balance at June 30, 2018 $ 19,780 Change in fair value 18,886 Reclassification to equity (38,666 ) Balance at September 30, 2018 $ —

Net Loss per Share (Tables)

Net Loss per Share (Tables)	3 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Potentially Dilutive Securities Excluded from Computation of Diluted Weighted-Average Shares	Potential common stock equivalents excluded from the calculation of diluted earnings per share because the effect would have been anti-dilutive were as follows: Three Months Ended 2018 2017 Options outstanding 7,984,469 5,740,155 Warrants outstanding 486,812 — Restricted stock units outstanding 1,395,829 948,500 Performance stock units outstanding 466,668 210,000 Deferred stock units outstanding 35,418 — 10,369,196 6,898,655

Operations and Basis of Prese_2

Operations and Basis of Presentation - Additional Information (Detail) - USD ($)	Jul. 01, 2018	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018
Operations [Line Items]
Cash and cash equivalents		$ 55,764,000		$ 38,776,000
Proceeds from exercise of investor warrants		$ 28,863,000	$ 0
Accounting Standards Update 2014-09 [Member]
Operations [Line Items]
Decrease in beginning accumulated deficit resulting from the adoption of ASC 606	$ 218,000

Acquisition of Icon Bioscienc_2

Acquisition of Icon Bioscience, Inc - Additional Information (Detail) - Icon Bioscience Inc [Member] - USD ($)	Mar. 28, 2018	Sep. 30, 2018
Business Acquisition [Line Items]
Acquisition date	Mar. 28, 2018
Consideration payment at closing	$ 15,000,000
Estimated working capital adjustment at closing	(127,000)
Development milestone payment due upon first commercial sales of DEXYCU	15,000,000
Maximum of potential sales milestone payments	$ 95,000,000
Quarterly percentage earn-out on product net sales	12.00%
Increased percentage earn-out on product net sales if net sales and partnering revenue exceed $200 million in a given year	16.00%
Contingent cash payments, description		These include but are not limited to (i) a one-time development milestone of $15.0 million payable in cash upon the first commercial sale of DEXYCU in the U.S., (ii) sales milestone payments totaling up to $95.0 million upon the achievement of certain sales thresholds and subject to certain Centers for Medicare & Medicaid Services (“CMS”) reimbursement conditions set forth in the Merger Agreement, (iii) quarterly earn-out payments equal to 12% on net sales of DEXYCU in a given year, which earn-out payments will increase to 16% of net sales of DEXYCU in such year beginning in the calendar quarter for such year to the extent aggregate annual DEXYCU consideration exceeds $200.0 million in such year, (iv) quarterly earn-out payments equal to 20% of partnering revenue received by the Company for DEXYCU outside of the U.S., and (v) single-digit percentage quarterly earn-out payments with respect to net sales and/or partnering income, if any, resulting from future clinical development, regulatory approval and commercialization of any other product candidates the Company acquired in the Icon Acquisition.
Purchase price of acquisition	$ 32,000,000
Transaction costs	2,000,000
DEXYCU [Member]
Business Acquisition [Line Items]
Purchase price of acquisition	$ 32,000,000
Finite-lived intangible asset expected amortization life	13 years
Minimum [Member]
Business Acquisition [Line Items]
Threshold level of annual aggregate consideration above which the 16% royalty on net sales applies in any given year	$ 200,000,000
Non-US [Member]
Business Acquisition [Line Items]
Percentage of partnering income received to be paid quarterly as earn-out consideration	20.00%

License and Collaboration Agr_2

License and Collaboration Agreements - Additional Information (Detail)	Jan. 01, 2021	Jan. 01, 2020USD ($)	Jan. 01, 2019USD ($)	Jul. 10, 2017USD ($)	Dec. 31, 2017USD ($)	Mar. 31, 2013USD ($)	Sep. 30, 2018USD ($)Country	Sep. 30, 2017USD ($)	Jun. 30, 2018USD ($)
Collaborative Agreements And Contracts [Line Items]
Revenue							$ 486,000	$ 385,000
Accounts receivable							489,000		$ 353,000
Collaborative Research and Development [Member]
Collaborative Agreements And Contracts [Line Items]
Revenue							$ 56,000	140,000
ILUVIEN [Member] | Europe [Member]
Collaborative Agreements And Contracts [Line Items]
Number of countries in which lead licensed product received regulatory approval | Country							17
Royalty Income [Member]
Collaborative Agreements And Contracts [Line Items]
Revenue							$ 430,000	245,000
OncoSil Medical UK Limited [Member]
Collaborative Agreements And Contracts [Line Items]
Percentage of non-royalty consideration received from sublicense							20.00%
Royalty percentage earned from sales of product							8.00%
License agreement commencement date							2012-12
Receipt of upfront license fee						$ 100,000
Deferred revenue							$ 0
OncoSil Medical UK Limited [Member] | Collaborative Research and Development [Member]
Collaborative Agreements And Contracts [Line Items]
Revenue					$ 100,000
Prior Alimera Agreement [Member]
Collaborative Agreements And Contracts [Line Items]
Percentage of company's share of net profits							20.00%
Pre-profitability net losses percentage							20.00%
Maximum percentage offset of current period net profits against previously incurred and unapplied pre-profitability quarterly net losses							4.00%
Percentage of net profit share after offset of previously incurred and unapplied pre-profitability net losses							16.00%
Percentage of royalties received from sublicense							20.00%
Percentage of non-royalty consideration received from sublicense							33.00%
Amount received, profit share from sale of licensed products								50,000
Amended Alimera Agreement [Member]
Collaborative Agreements And Contracts [Line Items]
Royalty percentage earned from sales of product							2.00%
Contingently recoverable accumulated commercialization losses				$ 25,000,000
Partial cancellation of contingently recoverable accumulated commercialization losses in lieu of upfront license fee				$ 10,000,000
Accrued sales-based royalty income							$ 215,000
Proceeds received from earned sales-based royalties							218,000
Amended Alimera Agreement [Member] | Scenario, Forecast [Member]
Collaborative Agreements And Contracts [Line Items]
Calendar year net sales threshold for increase in royalty rate			$ 75,000,000
Royalty percentage offset for amounts earned above 2% to be applied against balance of accumulated commercialization losses	20.00%	50.00%	50.00%
Additional cancellation of contingently recoverable commercialization losses		$ 5,000,000
Amended Alimera Agreement [Member] | Scenario, Forecast [Member] | Minimum [Member]
Collaborative Agreements And Contracts [Line Items]
Royalty percentage earned from sales of product			6.00%
Amended Alimera Agreement [Member] | Scenario, Forecast [Member] | Maximum [Member]
Collaborative Agreements And Contracts [Line Items]
Royalty percentage earned from sales of product			8.00%
Bausch and Lomb [Member]
Collaborative Agreements And Contracts [Line Items]
Accounts receivable							225,000		$ 306,000
Bausch and Lomb [Member] | Royalty Income [Member]
Collaborative Agreements And Contracts [Line Items]
Revenue							215,000	245,000
Feasibility Study Agreement [Member]
Collaborative Agreements And Contracts [Line Items]
Deferred revenue							0
Feasibility Study Agreement [Member] | Collaborative Research and Development [Member]
Collaborative Agreements And Contracts [Line Items]
Revenue							15,000	50,000
Prior Alimera Agreement and/or Amended Alimera Agreement [Member]
Collaborative Agreements And Contracts [Line Items]
Total revenues earned from Alimera							$ 249,000	$ 90,000

Intangible Assets - Reconciliat

Intangible Assets - Reconciliation of Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Gross carrying amount at beginning of period	$ 68,322	$ 35,610	$ 35,610
Acquisition of Icon Bioscience Inc.	0		31,973
Foreign currency translation adjustments	0		739
Gross carrying amount at end of period	68,322		68,322
Accumulated amortization at beginning of period	(36,964)	(35,246)	(35,246)
Amortization expense	(615)	$ (182)	(981)
Foreign currency translation adjustments	0		(737)
Accumulated amortization at end of period	(37,579)		(36,964)
Net book value at end of period	$ 30,743		$ 31,358

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 28, 2018	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018
Finite-Lived Intangible Assets [Line Items]
Amortization expense		$ 615	$ 182	$ 981
DEXYCU [Member] | Icon Bioscience Inc [Member]
Finite-Lived Intangible Assets [Line Items]
Initial purchase price	$ 32,000
Annual amortization expense	$ 2,500

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018
Payables and Accruals [Abstract]
Clinical trial costs	$ 1,039	$ 742
Personnel costs	1,204	1,763
Professional fees	722	926
Interest	332	254
Other	46	38
Accrued expenses	$ 3,343	$ 3,723

Term Loan Agreement - Additiona

Term Loan Agreement - Additional Information (Detail)	Jun. 26, 2018USD ($)$ / sharesshares	Mar. 28, 2018USD ($)PaymentsTranches$ / sharesshares	Sep. 30, 2018$ / shares	Jun. 30, 2018$ / shares	Sep. 30, 2017$ / shares	Jun. 30, 2017$ / shares
Term Loan Agreement [Line Items]
Exercise price of issued warrants | $ / shares			$ 1.23	$ 1.23	$ 0	$ 2.50
Senior Secured Term Loan [Member]
Term Loan Agreement [Line Items]
Upfront loan origination fee percentage		1.50%
Debt issue costs		$ 1,800,000
Cost allocated tranches, number | Tranches		2
Aggregate Fairvalue of warrants		$ 353,000
Senior Secured Term Loan [Member] | Initial Advance [Member]
Term Loan Agreement [Line Items]
Exit fee percentage		6.00%
Debt discount		$ 2,100,000
Senior Secured Term Loan [Member] | Additional Advance [Member]
Term Loan Agreement [Line Items]
Debt issue costs		$ 299,000
Debt discount	$ 652,000
Amortized cost	97,000
Debt issuance costs remaining balance reclassified to debt discount	$ 202,000
Senior Secured Term Loan [Member] | Warrants [Member]
Term Loan Agreement [Line Items]
Warrants exercise period	7 years	7 years
Senior Secured Term Loan [Member] | Warrants [Member] | Initial Advance [Member]
Term Loan Agreement [Line Items]
Warrants issued in connection with loan | shares		409,091
Exercise price of issued warrants | $ / shares		$ 1.10
Senior Secured Term Loan [Member] | Warrants [Member] | Additional Advance [Member]
Term Loan Agreement [Line Items]
Warrants issued in connection with loan | shares	77,721
Exercise price of issued warrants | $ / shares	$ 1.93
Senior Secured Term Loan [Member] | SWK Funding LLC [Member]
Term Loan Agreement [Line Items]
Agreement date		Mar. 28, 2018
Senior secured term loan		$ 20,000,000
Senior secured term loan, initial advance		15,000,000
Senior secured term loan, additional advance that followed satisfaction of applicable conditions	$ 5,000,000
Potential future increase in the credit facility, subject to certain condition		$ 10,000,000
Maturity date		Mar. 27, 2023
Number of interest | Payments		8
Loan repayment basis		Quarterly
Date of first interest only payment		May 15, 2018
Maximum amount of quarterly repayment of loan principal		$ 1,670,000
Upfront loan origination fee percentage		1.50%
Exit fee percentage		6.00%
Senior Secured Term Loan [Member] | SWK Funding LLC [Member] | London Interbank Offered Rate (LIBOR) [Member]
Term Loan Agreement [Line Items]
Interest rate		Three-month LIBOR rate(subject to a 1.5% floor)plus 10.50%.
LIBOR rate floor		1.50%
Interest rate (subject to floor rate)		10.50%
Senior Secured Term Loan [Member] | SWK Funding LLC [Member] | Prepayment After First Anniversary And On Or Prior To Second Anniversary [Member]
Term Loan Agreement [Line Items]
Principal prepayment premium percentage		6.00%
Senior Secured Term Loan [Member] | SWK Funding LLC [Member] | Prepayment After Second Anniversary And On Or Prior To Third Anniversary [Member]
Term Loan Agreement [Line Items]
Principal prepayment premium percentage		1.00%

Stockholders' Equity - 2018 Equ

Stockholders' Equity - 2018 Equity Financing - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jun. 22, 2018	Mar. 28, 2018	Sep. 30, 2018	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017	Jun. 25, 2018	Jun. 30, 2017
Class of Stock [Line Items]
Exercise price of Second Tranche Warrants			$ 1.23	$ 1.23	$ 1.23	$ 0		$ 2.50
Change in fair value of derivative liability				$ (18,886)		$ 0
Second Tranche Warrants [Member]
Class of Stock [Line Items]
Exercise price of Second Tranche Warrants			$ 1.43	$ 1.43
Gross proceeds from exercise of warrants			$ 28,900
First Tranche Securities Purchase Agreement [Member]
Class of Stock [Line Items]
Common stock issued to investors		8,606,324
Common stock price per share		$ 1.10
Gross proceeds from issuance of common stock		$ 9,500
Second Securities Purchase Agreement [Member]
Class of Stock [Line Items]
Gross proceeds to be received from issuance of common shares, subject to stockholder approval	$ 25,500
2018 Equity Financing [Member] | Second Tranche Transaction [Member]
Class of Stock [Line Items]
Common stock issued to investors	20,184,224
Common stock price per share	$ 1.265
2018 Equity Financing [Member] | Second Tranche Warrants [Member]
Class of Stock [Line Items]
Reclassification of the derivative liability balance to equity upon the exercise of the Second Tranche Warrants				$ 38,700
Change in fair value of derivative liability				$ 18,900	$ 1,600
Derivative liability balance					$ 19,800		$ 18,200

Stockholders' Equity - ATM Faci

Stockholders' Equity - ATM Facility & Share Offering - Additional Information (Detail) - At-the-Market Offering [Member] - USD ($)	1 Months Ended	3 Months Ended
	Feb. 28, 2017	Sep. 30, 2018	Sep. 30, 2017
Class of Stock [Line Items]
Common stock shares maximum aggregate offering price	$ 20,000,000
Stock issuances, sales agent commission maximum percentage	3.00%
Common stock issued to investors		0	843,784
Weighted average common stock price per share			$ 1.24
Gross proceeds from issuance of common stock			$ 1,000,000
Share issuance costs			$ 81,000
Aggregate proceeds available from future issuances of common stock under the current ATM program		$ 3,800,000

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Reconciliation of Warrants to Purchase Share of the Company's Common Stock (Detail) - $ / shares	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Common Stock Warrants [Abstract]
Number of Warrants, Outstanding and exercisable, Beginning balance	486,812	623,605
Number of Warrants, Expired	0	(623,605)
Number of Warrants, Outstanding and exercisable, Ending balance	486,812	0
Weighted Average Exercise Price, Outstanding and exercisable, Beginning balance	$ 1.23	$ 2.50
Weighted Average Exercise Price, Expired	0	2.50
Weighted Average Exercise Price, Outstanding and exercisable, Ending balance	$ 1.23	$ 0

Stockholders' Equity - Warrants

Stockholders' Equity - Warrants to Purchase Common Shares - Additional Information (Detail) - $ / shares	Jun. 26, 2018	Mar. 28, 2018	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017	Jun. 30, 2017
Class of Stock [Line Items]
Warrants, outstanding			486,812	486,812	0	623,605
Second Tranche Warrants [Member]
Class of Stock [Line Items]
Warrants, outstanding				20,184,224
Senior Secured Term Loan [Member] | Warrants [Member]
Class of Stock [Line Items]
Warrants issued in connection with term loan facility	77,721	409,091
Exercise price of issued warrants	$ 1.93	$ 1.10
Warrants exercise period	7 years	7 years
Weighted average remaining life of warrants			6 years 6 months 14 days

Share-Based Payment Awards - Eq

Share-Based Payment Awards - Equity Incentive Plans - Additional Information (Detail) - 2016 Long Term Incentive Plan [Member] - shares	Sep. 30, 2018	Dec. 12, 2016
Class of Stock [Line Items]
Number of common stock, authorized for issuance		3,000,000
Shares available for grant under the Long Term Incentive Plan, including forfeited and terminated awards transferred from the 2008 Incentive Plan	1,497,886

Share-Based Payment Awards - St

Share-Based Payment Awards - Stock Option Activity Under Company's Equity Incentive Plan (Detail) - Equity Incentive Plans [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate Intrinsic Value, Outstanding at September 30, 2018 | $	$ 6,203
Aggregate Intrinsic Value, Exercisable at September 30, 2018 | $	$ 1,747
Weighted Average Remaining Contractual Life, Outstanding at September 30, 2018	7 years 3 months 3 days
Weighted Average Remaining Contractual Life, Exercisable at September 30, 2018	5 years 2 months 12 days
Weighted Average Exercise Price Outstanding, Beginning balance | $ / shares	$ 2.79
Weighted Average Exercise Price, Granted | $ / shares	2.31
Weighted Average Exercise Price, Forfeited | $ / shares	2.76
Weighted Average Exercise Price, Expired | $ / shares	2.85
Weighted Average Exercise Price Outstanding, Ending balance | $ / shares	2.76
Weighted Average Exercise Price, Exercisable at September 30,2018 | $ / shares	$ 3.34
Number of Options Outstanding, Beginning balance | shares	6,460,244
Number of Options, Granted | shares	166,575
Number of Options, Forfeited | shares	(10,600)
Number of Options, Exercised | shares	(156,750)
Number of Options Outstanding, Ending balance | shares	6,459,469
Number of Options, Exercisable at September 30 , 2018 | shares	3,151,142

Share-Based Payment Awards - _2

Share-Based Payment Awards - Stock Options - Additional Information (Detail)	3 Months Ended
	Sep. 30, 2018$ / sharesshares
Stock Compensation Plan [Member]
Class of Stock [Line Items]
Common stock vested during the period	401,558
2016 Long Term Incentive Plan [Member]
Class of Stock [Line Items]
Contractual life of option grants	10 years
Weighted-average grant date fair value per share | $ / shares	$ 1.31
Employees [Member] | 2016 Long Term Incentive Plan [Member]
Class of Stock [Line Items]
Options granted	115,000
Vesting period of equity awards	3 years
Non-executive Directors [Member] | 2016 Long Term Incentive Plan [Member]
Class of Stock [Line Items]
Options granted	1,667
Vesting period of equity awards	1 year
External consultant [Member] | 2016 Long Term Incentive Plan [Member]
Class of Stock [Line Items]
Options granted	49,908
Vesting period of equity awards	1 year

Share-Based Payment Awards - Su

Share-Based Payment Awards - Summary of Company Applied the Black-Scholes Option Pricing (Detail) - 2016 Long Term Incentive Plan [Member]	3 Months Ended
	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock volatility, minimum	59.00%
Stock volatility, maximum	60.00%
Risk-free interest rate, minimum	2.78%
Risk-free interest rate, maximum	2.90%
Expected dividends	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option life (in years)	5 years 6 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option life (in years)	6 years

Share-Based Payment Awards - Ti

Share-Based Payment Awards - Time-Vested Restricted Stock Units - Additional Information (Detail) - 2016 Long Term Incentive Plan [Member] - RSU [Member]	3 Months Ended
	Sep. 30, 2018
Class of Stock [Line Items]
Vesting period of equity awards	3 years
Weighted average remaining vesting term	1 year 1 month 2 days

Share-Based Payment Awards - _3

Share-Based Payment Awards - Summary of Restricted Stock Unit Activity (Detail) - 2016 Long Term Incentive Plan [Member] - RSU [Member]	3 Months Ended
	Sep. 30, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Stock Units Outstanding, Beginning Balance | shares	898,129
Number of Stock Units, Forfeited | shares	(2,300)
Number of Stock Units Outstanding, Ending Balance | shares	895,829
Weighted Average Grant Date Fair Value Nonvested, Beginning balance | $ / shares	$ 1.58
Weighted Average Grant Date Fair value, Forfeited | $ / shares	1.81
Weighted Average Grant Date Fair Value Nonvested, Ending balance | $ / shares	$ 1.58

Share-Based Payment Awards - Pe

Share-Based Payment Awards - Performance-Based Stock Units - Additional Information (Detail) - Performance Stock Units [Member] - shares	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 19, 2018	Sep. 30, 2018	Jun. 30, 2018
Class of Stock [Line Items]
Number of Stock Units Outstanding					241,668	241,668
Performance Condition One [Member]
Class of Stock [Line Items]
Stock units vesting, percentage			50.00%
Portion of stock units subject to an FDA acceptance of the Company's NDA submission of YUTIQ for review on or before March 31, 2018					One third
Number of Performance-Based Stock Units, vested				48,332
Weighted average remaining vesting term					5 years 7 months 6 days
Performance Condition Two [Member]
Class of Stock [Line Items]
Portion of stock units subject to an FDA approval of YUTIQ on or before March 31, 2019					Two-thirds
Scenario, Forecast [Member] | Performance Condition One [Member]
Class of Stock [Line Items]
Stock units vesting, percentage		50.00%
Number of performance-based stock units subject to service-based vesting of one year from performance condition achievement date		48,334
Scenario, Forecast [Member] | Performance Condition Two [Member]
Class of Stock [Line Items]
Stock units vesting, percentage	50.00%	50.00%

Share-Based Payment Awards - _4

Share-Based Payment Awards - Summary of Deferred Stock Unit Activity (Detail) - Deferred Stock Units [Member]	3 Months Ended
	Sep. 30, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Stock Units Outstanding, Beginning Balance | shares	35,001
Number of stock units, granted | shares	417
Number of Stock Units Outstanding, Ending Balance | shares	35,418
Weighted Average Grant Date Fair Value Nonvested, Beginning balance | $ / shares	$ 1.95
Weighted average grant date fair value, granted | $ / shares	2.32
Weighted Average Grant Date Fair Value Nonvested, Ending balance | $ / shares	$ 1.95

Share-Based Payment Awards - De

Share-Based Payment Awards - Deferred Stock Units - Additional Information (Detail)	3 Months Ended
	Sep. 30, 2018
Deferred Stock Units [Member]
Class of Stock [Line Items]
Weighted average remaining vesting term	8 months 24 days

Share-Based Payment Awards - Ma

Share-Based Payment Awards - Market-Based Restricted Stock Units - Additional Information (Detail) - Market-based RSUs [Member] - $ / shares	3 Months Ended	12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018
Class of Stock [Line Items]
Restricted stock units outstanding	500,000	500,000
Grant date fair value per share	$ 1.45

Share-Based Payment Awards - Ot

Share-Based Payment Awards - Other Inducement Grants - Additional Information (Detail) - $ / shares	Aug. 14, 2018	Aug. 01, 2018	Sep. 30, 2018
Chief Financial Officer [Member]
Class of Stock [Line Items]
Options granted		385,000
Vesting period of equity awards		3 years
Exercise price of option		$ 2.22
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award			The PSUs are subject to proportional vesting based on cumulative measurement for the 3-year period ending June 30, 2021, with two-thirds of the award based upon defined amounts of the Company's product revenues and one-third upon based on the net present value of each applicable business development transaction measured as of the date that each such transaction is consummated by the Company.
Senior Vice President [Member]
Class of Stock [Line Items]
Options granted	100,000
Vesting period of equity awards	3 years
Exercise price of option	$ 2.10
Other Inducement Grants [Member]
Class of Stock [Line Items]
Contractual life of option grants			10 years
Weighted average grant date fair value of the inducement grants			$ 1.27
Other Inducement Grants [Member] | Chief Financial Officer [Member]
Class of Stock [Line Items]
Number of performance stock units, granted		225,000

Share-Based Payment Awards - Ke

Share-Based Payment Awards - Key Assumptions Used to Apply Option Pricing Model For Options Granted (2016 Long Term Incentive Plan) (Detail) - Other Inducement Grants [Member]	3 Months Ended
	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option life (in years)	6 years
Stock volatility, minimum	59.00%
Stock volatility, maximum	60.00%
Risk-free interest rate, minimum	2.81%
Risk-free interest rate, maximum	2.92%
Expected dividends	0.00%

Share-Based Payment Awards - _5

Share-Based Payment Awards - Summary of Other Inducement Award Grants (Detail) - 2016 Long Term Incentive Plan [Member] - Other Inducement Grants [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Outstanding, Beginning balance | shares	1,290,000
Number of Options, Granted | shares	485,000
Number of Options, Forfeited | shares	(250,000)
Number of Options Outstanding, Ending balance | shares	1,525,000
Number of Options, Exercisable at September 30 , 2018 | shares	615,000
Weighted Average Exercise Price Outstanding, Beginning balance | $ / shares	$ 3.06
Weighted Average Exercise Price, Granted | $ / shares	2.20
Weighted Average Exercise Price, Forfeited | $ / shares	1.95
Weighted Average Exercise Price Outstanding, Ending balance | $ / shares	2.96
Weighted Average Exercise Price, Exercisable at September 30,2018 | $ / shares	$ 3.11
Weighted Average Remaining Contractual Life, Outstanding at September 30, 2018	7 years 7 months 6 days
Weighted Average Remaining Contractual Life, Exercisable at September 30, 2018	5 years 6 months 29 days
Aggregate Intrinsic Value, Outstanding at September 30, 2018 | $	$ 975
Aggregate Intrinsic Value, Exercisable at September 30, 2018 | $	$ 308

Share-Based Payment Awards - Co

Share-Based Payment Awards - Compensation Expense from Stock-Based Payment Awards (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 1,397	$ 681
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	486	304
Sales And Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	263	0
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 648	$ 377

Share-Based Payment Award - Sto

Share-Based Payment Award - Stock-Based Compensation Expense - Additional Information (Detail)	3 Months Ended
	Sep. 30, 2018USD ($)
Class of Stock [Line Items]
Unrecognized compensation expense	$ 5,200,000
Unrecognized compensation expense weighted average period	1 year 7 months 6 days
Executive Vice President And General Manager [Member]
Class of Stock [Line Items]
Amount of stock-based compensation included in sales and marketing attributable to accelerated vesting of certain stock options, net of non-vested option forfeitures	$ 171,000

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Carried at Fair Value Measured on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018
Assets:
Cash equivalents	$ 25,955	$ 28,826
Total cash equivalents	25,955	28,826
Liabilities:
Derivative liabilities		19,780
Total derivative liabilities		19,780
Quoted Prices in Active Markets (Level 1) [Member]
Assets:
Cash equivalents	25,955	28,826
Total cash equivalents	25,955	28,826
Liabilities:
Derivative liabilities		0
Total derivative liabilities		0
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Cash equivalents	0	0
Total cash equivalents	0	0
Liabilities:
Derivative liabilities		0
Total derivative liabilities		0
Significant Unobservable Inputs (Level 3) [Member]
Assets:
Cash equivalents	0	0
Total cash equivalents	$ 0	0
Liabilities:
Derivative liabilities		19,780
Total derivative liabilities		$ 19,780

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ / shares in Units, $ in Thousands	Sep. 30, 2018USD ($)$ / shares	Jun. 30, 2018USD ($)$ / shares	Sep. 30, 2017$ / shares	Jun. 30, 2017$ / shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant exercise price	$ 1.23	$ 1.23	$ 0	$ 2.50
Volatility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input		0.8540
Risk Free Interest Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input		0.0210
Term [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input		6 months
Stock Price [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input		2.08
Second Tranche Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant exercise price	$ 1.43
Significant Unobservable Inputs (Level 3) [Member] | Second Tranche Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability | $	$ 0	$ 19,780

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Changes in Fair Value of the Company's Derivative Liability (Detail) - Significant Unobservable Inputs (Level 3) [Member] - Second Tranche Warrants [Member] $ in Thousands	3 Months Ended
	Sep. 30, 2018USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at June 30, 2018	$ 19,780
Change in fair value	18,886
Reclassification to equity	(38,666)
Balance at September 30, 2018	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 0	$ 0
Unrecognized tax benefits	0	0
Accrued penalties or interest related to uncertain tax positions	$ 0	$ 0
Federal corporate income tax rate	21.00%		34.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Jun. 11, 2018ft²	Sep. 30, 2018USD ($)ft²Renewal_Options
Caladrius [Member]
Commitments and Contingencies [Line Items]
Additional subleased area of office space	1,381
Massachusetts [Member] | Maximum [Member]
Commitments and Contingencies [Line Items]
Construction allowance | $		$ 670,750
Massachusetts [Member] | Second Amendment [Member]
Commitments and Contingencies [Line Items]
Lease term expiration date		May 31, 2025
Lease commencement date		Sep. 10, 2018
Additional Space leased		6,590
Lease renewal option period		5 years
Irrevocable standby letter of credit | $		$ 150,000
Massachusetts [Member] | Original Lease [Member]
Commitments and Contingencies [Line Items]
Area of leased office and laboratory space		13,650
Original lease term		5 years
Lease term expiration date		Apr. 30, 2019
New Jersey [Member] | Liberty Corner Office Space [Member]
Commitments and Contingencies [Line Items]
Lease term expiration date		Jun. 30, 2022
Lease commencement date		Jul. 1, 2017
Lease renewal option period		5 years
Area of leased office space		3,000
Number of renewal options | Renewal_Options		2
Lease renewal rate at 95% of market rent at time of renewal		95.00%

Net Loss per Share - Potentiall

Net Loss per Share - Potentially Dilutive Securities Excluded from Computation of Diluted Weighted-Average Shares (Detail) - shares	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents outstanding excluded from diluted earnings per share calculation	10,369,196	6,898,655
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents outstanding excluded from diluted earnings per share calculation	7,984,469	5,740,155
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents outstanding excluded from diluted earnings per share calculation	486,812	0
RSU [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents outstanding excluded from diluted earnings per share calculation	1,395,829	948,500
Performance Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents outstanding excluded from diluted earnings per share calculation	466,668	210,000
Deferred Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents outstanding excluded from diluted earnings per share calculation	35,418	0