Cover Page
Cover Page | 9 Months Ended |
Mar. 31, 2024 | |
Document Information [Line Items] | |
Document Type | S-4/A |
Amendment Flag | true |
Entity Registrant Name | KINTARA THERAPEUTICS, INC. |
Entity Central Index Key | 0001498382 |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | false |
Entity Incorporation, State or Country Code | NV |
Entity Tax Identification Number | 99-0360497 |
Entity Address, Address Line One | 9920 Pacific Heights Blvd |
Entity Address, Address Line Two | Suite 150 |
Entity Address, City or Town | San Diego |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 92130 |
City Area Code | 858 |
Local Phone Number | 350-4364 |
Entity Primary SIC Number | 2834 |
Amendment Description | Amendment No. 1 |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | 9920 Pacific Heights Blvd |
Entity Address, Address Line Two | Suite 150 |
Entity Address, City or Town | San Diego |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 92121 |
City Area Code | 858 |
Local Phone Number | 350-4364 |
Contact Personnel Name | Robert E. Hoffman |
Condensed Consolidated Interim
Condensed Consolidated Interim Balance Sheets - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 |
Current assets | |||||
Cash and cash equivalents | $ 6,351,000 | $ 1,535,000 | $ 11,780,000 | ||
Prepaid expenses, taxes and other receivables | 208,000 | 660,000 | 1,478,000 | ||
Clinical trial deposit | 196,000 | 1,075,000 | |||
Total current assets | 6,755,000 | 3,270,000 | 13,258,000 | ||
Clinical trial deposit | 2,600,000 | ||||
Property and equipment, net | 691,000 | 709,000 | 90,000 | ||
Total assets | 7,446,000 | 3,979,000 | 15,948,000 | ||
Current liabilities | |||||
Accounts payable and accrued liabilities | 1,243,000 | 2,784,000 | 3,269,000 | ||
Total Current Liabilities | 1,341,000 | 3,082,000 | 3,990,000 | ||
Milestone payment liability | 183,000 | 166,000 | 163,000 | ||
Total liabilities | 1,524,000 | 3,248,000 | 4,153,000 | ||
Stockholders' equity | |||||
Common stock | 55,000 | 2,000 | 1,000 | ||
Additional paid-in capital | 153,144,000 | 141,438,000 | 135,575,000 | ||
Accumulated deficit | (157,550,000) | (151,375,000) | (136,356,000) | ||
Accumulated other comprehensive income | 21,000 | 21,000 | 21,000 | ||
Total Stockholders' Deficit | 5,922,000 | $ (164,000) | 731,000 | $ 6,598,000 | 11,795,000 |
Total Liabilities and Stockholders' Deficit | 7,446,000 | 3,979,000 | 15,948,000 | ||
Commitments and Contingencies | |||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||
Current assets | |||||
Cash and cash equivalents | 4,461,490 | 3,665,032 | 14,252,518 | ||
Other current assets | 835,414 | 493,769 | 491,774 | ||
Total current assets | 5,296,904 | 4,158,801 | 14,744,292 | ||
Property and equipment, net | 147,863 | 182,170 | 280,323 | ||
Operating right-of-use assets | 307,181 | 20,820 | 138,224 | ||
Other noncurrent assets | 33,769 | 33,769 | |||
Total assets | 5,785,717 | 4,361,791 | 15,196,608 | ||
Current liabilities | |||||
Accounts payable and accrued liabilities | 4,342,765 | 3,438,559 | 2,754,443 | ||
Derivative Liability | 353,000 | 137,000 | |||
Lease liability, current | 146,282 | 20,820 | 117,481 | ||
Total Current Liabilities | 4,842,047 | 3,596,379 | 2,871,924 | ||
Convertible note payable, net | 6,845,359 | 2,324,158 | |||
Lease liability, long term | 164,594 | 20,743 | |||
Total Long-term liabilities | 2,324,158 | 20,743 | |||
Total liabilities | 11,852,000 | 5,920,537 | 2,892,667 | ||
Stockholders' equity | |||||
Preferred stock | 8,056 | 8,056 | 8,062 | ||
Common stock | 6,807 | 6,801 | 4,529 | ||
Additional paid-in capital | 87,235,993 | 86,901,394 | 71,449,521 | ||
Accumulated deficit | (93,317,139) | (88,474,997) | (59,158,171) | ||
Total Stockholders' Deficit | (6,066,283) | (1,558,746) | 12,303,941 | ||
Total Liabilities and Stockholders' Deficit | 5,785,717 | $ 4,361,791 | $ 15,196,608 | ||
Related Party | |||||
Current liabilities | |||||
Related party payables | 98,000 | 298,000 | 721,000 | ||
Preferred Stock Series A | |||||
Stockholders' equity | |||||
Preferred stock | 279,000 | 279,000 | 279,000 | ||
Preferred Stock Series C | |||||
Stockholders' equity | |||||
Preferred stock | $ 9,973,000 | $ 10,366,000 | $ 12,275,000 |
Condensed Consolidated Interi_2
Condensed Consolidated Interim Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 |
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 | 5,500,000 |
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock, shares issued | 55,305,000 | 1,692,000 | 1,311,000 |
Common stock, shares outstanding | 55,305,000 | 1,692,000 | |
Preferred Stock Series A | |||
Preferred Stock, shares issued | 279,000 | 279,000 | 279,000 |
Preferred stock, shares outstanding | 279,000 | 279,000 | 279,000 |
Preferred Stock Series C | |||
Preferred Stock, shares issued | 14,000 | 14,000 | 17,000 |
Preferred stock, shares outstanding | 14,000 | 14,000 | 17,000 |
Condensed Consolidated Interi_3
Condensed Consolidated Interim Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
Expenses | ||||||||
Research and development | $ 592,000 | $ 2,005,000 | $ 2,562,000 | $ 7,235,000 | $ 9,311,000 | $ 15,173,000 | ||
General and administrative | 1,493,000 | 1,297,000 | 3,504,000 | 4,212,000 | 5,485,000 | 7,509,000 | ||
Operating expenses | (2,085,000) | (3,302,000) | (6,066,000) | (11,447,000) | (14,796,000) | (22,682,000) | ||
Other income (loss) | ||||||||
Foreign exchange | 0 | (1,000) | (8,000) | 10,000 | 10,000 | 7,000 | ||
Interest, net | 74,000 | 39,000 | 78,000 | 123,000 | 137,000 | 14,000 | ||
Other income (loss) | 74,000 | 38,000 | 70,000 | 133,000 | 147,000 | 21,000 | ||
Net loss for the period | (2,011,000) | (3,264,000) | (5,996,000) | (11,314,000) | (14,649,000) | (22,661,000) | ||
Computation of basic loss per share | ||||||||
Net loss for the period | (2,011,000) | (3,264,000) | (5,996,000) | (11,314,000) | (14,649,000) | (22,661,000) | ||
Series A Preferred cash dividend | (2,000) | (2,000) | (6,000) | (6,000) | (8,000) | (8,000) | ||
Net loss for the period attributable to common stockholders | $ (2,013,000) | $ (3,266,000) | $ (6,175,000) | $ (11,682,000) | $ (15,019,000) | $ (25,131,000) | ||
Basic loss per share | $ (0.05) | $ (1.94) | $ (0.37) | $ (7.32) | $ (9.27) | $ (25.8) | ||
Diluted loss per share | $ (0.05) | $ (1.94) | $ (0.37) | $ (7.32) | $ (9.27) | $ (25.8) | ||
Basic weighted average number of shares | 44,562 | 1,681 | 16,772 | 1,596 | 1,620 | 974 | ||
Diluted weighted average number of shares | 44,562 | 1,681 | 16,772 | 1,596 | 1,620 | 974 | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||||||
Expenses | ||||||||
Research and development | $ 3,589,013 | $ 1,618,290 | $ 9,402,417 | $ 7,928,569 | ||||
Acquired in-process research and development ("IPR&D") | 16,200,000 | 16,217,655 | ||||||
General and administrative | 1,016,741 | 924,196 | 4,144,648 | 2,005,282 | ||||
Operating expenses | (4,605,754) | (18,742,486) | (29,764,720) | (9,933,851) | ||||
Other income (loss) | ||||||||
Forgiveness of Paycheck Protection Program loan | 294,070 | |||||||
Employee Retention Tax Credit | 334,443 | |||||||
Interest expense | (255,122) | (18,688) | ||||||
Interest income | 6,642 | 33,554 | 89,673 | 57,351 | ||||
Change in fair value of dervative liability | 12,092 | |||||||
Total Other (Expense) Income | (236,388) | 33,554 | 447,894 | 566,338 | ||||
Net loss for the period | (4,842,142) | (18,708,932) | (29,316,826) | (9,367,513) | ||||
Computation of basic loss per share | ||||||||
Net loss for the period | $ (4,842,142) | $ (18,708,932) | (29,316,826) | (9,367,513) | ||||
Grant [Member] | TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||||||
Other income (loss) | ||||||||
Grant income | $ 42,466 | $ 214,917 | ||||||
Preferred Stock Series C | ||||||||
Computation of basic loss per share | ||||||||
Preferred stock dividend | $ (173,000) | $ (362,000) | $ (362,000) | $ (2,462,000) |
Condensed Consolidated Interi_4
Condensed Consolidated Interim Statements of Stockholders' Equity (Deficiency) - USD ($) | Total | Previously Reported [Member] | TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Equity Line [Member] | ATM Facility [Member] | Common stock | Common stock Previously Reported [Member] | Common stock TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Common stock ATM Facility [Member] | Additional paid-in capital | Additional paid-in capital Previously Reported [Member] | Additional paid-in capital TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Additional paid-in capital Equity Line [Member] | Additional paid-in capital ATM Facility [Member] | Accumulated other comprehensive income | Accumulated other comprehensive income Previously Reported [Member] | Accumulated other comprehensive income TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Preferred stock | Preferred stock Previously Reported [Member] | Preferred stock TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Accumulated deficit | Accumulated deficit Previously Reported [Member] | Accumulated deficit TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] |
Beginning Balance at Jun. 30, 2021 | $ 10,581,000 | $ 1,000 | $ 106,853,000 | $ 21,000 | $ 14,931,000 | $ (111,225,000) | |||||||||||||||||
Beginning Balance, shares at Jun. 30, 2021 | 655,000 | ||||||||||||||||||||||
Issuance of shares and warrants - net of issue costs | 21,526,000 | 21,526,000 | |||||||||||||||||||||
Issuance of shares and warrants - net of issue costs, shares | 469,000 | ||||||||||||||||||||||
Conversion of Series C Preferred stock to common stock | $ 2,377,000 | 2,377,000 | (2,377,000) | ||||||||||||||||||||
Conversion of Series C preferred stock to common stock, shares | 56,000 | ||||||||||||||||||||||
Warrants issued for services | 35,000 | 35,000 | |||||||||||||||||||||
Exercise of 2020 Investor Warrants for cash | 69,000 | 69,000 | |||||||||||||||||||||
Exercise of 2020 Investor Warrants for Cash, shares | 1,000 | ||||||||||||||||||||||
Exercise of pre-funded warrants for cash | 5,000 | 5,000 | |||||||||||||||||||||
Exercise of pre-funded warrants for cash, shares | 96,000 | ||||||||||||||||||||||
Stock option expense | 2,283,000 | 2,283,000 | |||||||||||||||||||||
Series A Preferred cash dividend | (43,000) | (35,000) | (8,000) | ||||||||||||||||||||
Series C Preferred stock dividend | 2,462,000 | (2,462,000) | |||||||||||||||||||||
Series C Preferred stock dividend, shares | 34,000 | ||||||||||||||||||||||
Loss for the period | (22,661,000) | (22,661,000) | (22,661,000) | ||||||||||||||||||||
Net loss | (22,661,000) | ||||||||||||||||||||||
Ending Balance at Jun. 30, 2022 | $ 11,795,000 | 11,795,000 | $ 1,000 | $ 1,000 | $ 135,575,000 | 135,575,000 | $ 21,000 | 21,000 | $ 12,554,000 | 12,554,000 | $ (136,356,000) | (136,356,000) | |||||||||||
Ending Balance, shares at Jun. 30, 2022 | 1,311,000 | 1,311,000 | |||||||||||||||||||||
Beginning Balance at Dec. 31, 2021 | $ (747,821) | $ 4,529 | $ 49,033,610 | $ (49,790,658) | $ 4,698 | ||||||||||||||||||
Beginning Balance, shares at Dec. 31, 2021 | 45,286,589 | 46,978,349 | |||||||||||||||||||||
Loss for the period | $ (9,367,513) | ||||||||||||||||||||||
Issuance of shares | $ 25,153,030 | ||||||||||||||||||||||
Issuance of shares, shares | 16,601,000 | 16,598,485 | 2,515 | ||||||||||||||||||||
Issuance of preferred shares for stock prepayment | $ 5,600,000 | $ 5,599,151 | $ 849 | ||||||||||||||||||||
Issuance of preferred shares for stock prepayment, share | 8,484,850 | ||||||||||||||||||||||
Stock compensation expense | 218,275 | 218,275 | |||||||||||||||||||||
Net loss | (9,367,513) | (9,367,513) | |||||||||||||||||||||
Ending Balance at Dec. 31, 2022 | $ 6,598,000 | 12,303,941 | 2,000 | $ 4,529 | 140,571,000 | 71,449,521 | 21,000 | (59,158,171) | 10,776,000 | $ 8,062 | (144,772,000) | $ (59,158,171) | |||||||||||
Ending Balance, shares at Dec. 31, 2022 | 1,673,000 | 45,286,589 | 80,616,229 | ||||||||||||||||||||
Beginning Balance at Jun. 30, 2022 | $ 11,795,000 | 11,795,000 | 1,000 | $ 1,000 | 135,575,000 | 135,575,000 | 21,000 | 21,000 | 12,554,000 | 12,554,000 | (136,356,000) | (136,356,000) | |||||||||||
Beginning Balance, shares at Jun. 30, 2022 | 1,311,000 | 1,311,000 | |||||||||||||||||||||
Issuance of shares and warrants - net of issue costs | $ 1,903,000 | 1,000 | 1,902,000 | ||||||||||||||||||||
Issuance of shares and warrants - net of issue costs, shares | 262,000 | ||||||||||||||||||||||
Stock option expense | $ 518,000 | 518,000 | |||||||||||||||||||||
Series A Preferred cash dividend | $ (2,000) | (2,000) | |||||||||||||||||||||
Series C Preferred stock dividend | 362,000 | (362,000) | |||||||||||||||||||||
Series C Preferred stock dividend, shares | 43,000 | ||||||||||||||||||||||
Loss for the period | $ (4,596,000) | (4,596,000) | |||||||||||||||||||||
Ending Balance at Sep. 30, 2022 | $ 9,618,000 | 2,000 | 138,357,000 | 21,000 | 12,554,000 | (141,316,000) | |||||||||||||||||
Ending Balance, shares at Sep. 30, 2022 | 1,616,000 | ||||||||||||||||||||||
Beginning Balance at Jun. 30, 2022 | $ 11,795,000 | 11,795,000 | 1,000 | $ 1,000 | 135,575,000 | 135,575,000 | 21,000 | 21,000 | 12,554,000 | 12,554,000 | (136,356,000) | (136,356,000) | |||||||||||
Beginning Balance, shares at Jun. 30, 2022 | 1,311,000 | 1,311,000 | |||||||||||||||||||||
Loss for the period | $ (11,314,000) | ||||||||||||||||||||||
Net loss | (11,314,000) | ||||||||||||||||||||||
Ending Balance at Mar. 31, 2023 | $ 3,786,000 | 7,164,654 | 2,000 | $ 6,559 | 141,156,000 | 85,017,136 | 21,000 | 10,645,000 | $ 8,062 | (148,038,000) | (77,867,103) | ||||||||||||
Ending Balance, shares at Mar. 31, 2023 | 1,692,000 | 65,589,619 | 80,616,229 | ||||||||||||||||||||
Beginning Balance at Jun. 30, 2022 | $ 11,795,000 | $ 11,795,000 | 1,000 | $ 1,000 | 135,575,000 | $ 135,575,000 | 21,000 | $ 21,000 | 12,554,000 | $ 12,554,000 | (136,356,000) | $ (136,356,000) | |||||||||||
Beginning Balance, shares at Jun. 30, 2022 | 1,311,000 | 1,311,000 | |||||||||||||||||||||
Issuance of shares and warrants - net of issue costs | $ 1,903,000 | $ 1,000 | 1,902,000 | ||||||||||||||||||||
Issuance of shares and warrants - net of issue costs, shares | 262,000 | ||||||||||||||||||||||
Issuance of shares for services, shares | 16,000 | ||||||||||||||||||||||
Issuance of shares for services | 110,000 | 110,000 | |||||||||||||||||||||
Conversion of Series C Preferred stock to common stock | 1,909,000 | (1,909,000) | |||||||||||||||||||||
Conversion of Series C preferred stock to common stock, shares | 45,000 | ||||||||||||||||||||||
Additional shares issued on reverse stock split, shares | 15,000 | ||||||||||||||||||||||
Stock option expense | 1,490,000 | 1,490,000 | |||||||||||||||||||||
Restricted stock unit expense | 90,000 | 90,000 | |||||||||||||||||||||
Series A Preferred cash dividend | (8,000) | (8,000) | |||||||||||||||||||||
Series C Preferred stock dividend | 362,000 | (362,000) | |||||||||||||||||||||
Series C Preferred stock dividend, shares | 43,000 | ||||||||||||||||||||||
Loss for the period | (14,649,000) | (14,649,000) | |||||||||||||||||||||
Net loss | (14,649,000) | ||||||||||||||||||||||
Ending Balance at Jun. 30, 2023 | $ 731,000 | $ 2,000 | 141,438,000 | 21,000 | 10,645,000 | (151,375,000) | |||||||||||||||||
Ending Balance, shares at Jun. 30, 2023 | 1,692,000 | 1,692,000 | |||||||||||||||||||||
Beginning Balance at Sep. 30, 2022 | $ 9,618,000 | $ 2,000 | 138,357,000 | 21,000 | 12,554,000 | (141,316,000) | |||||||||||||||||
Beginning Balance, shares at Sep. 30, 2022 | 1,616,000 | ||||||||||||||||||||||
Conversion of Series C Preferred stock to common stock | 1,778,000 | (1,778,000) | |||||||||||||||||||||
Conversion of Series C preferred stock to common stock, shares | 42,000 | ||||||||||||||||||||||
Additional shares issued on reverse stock split, shares | 15,000 | ||||||||||||||||||||||
Stock option expense | $ 436,000 | 436,000 | |||||||||||||||||||||
Series A Preferred cash dividend | (2,000) | (2,000) | |||||||||||||||||||||
Loss for the period | (3,454,000) | (3,454,000) | |||||||||||||||||||||
Ending Balance at Dec. 31, 2022 | $ 6,598,000 | 12,303,941 | 2,000 | $ 4,529 | 140,571,000 | 71,449,521 | 21,000 | (59,158,171) | 10,776,000 | $ 8,062 | (144,772,000) | (59,158,171) | |||||||||||
Ending Balance, shares at Dec. 31, 2022 | 1,673,000 | 45,286,589 | 80,616,229 | ||||||||||||||||||||
Issuance of shares for services, shares | 16,000 | ||||||||||||||||||||||
Issuance of shares for services | $ 110,000 | 110,000 | |||||||||||||||||||||
Conversion of Series C Preferred stock to common stock | 131,000 | (131,000) | |||||||||||||||||||||
Conversion of Series C preferred stock to common stock, shares | 3,000 | ||||||||||||||||||||||
Stock option expense | $ 290,000 | 290,000 | |||||||||||||||||||||
Restricted stock unit expense | 54,000 | 54,000 | |||||||||||||||||||||
Series A Preferred cash dividend | (2,000) | (2,000) | |||||||||||||||||||||
Loss for the period | (3,264,000) | (18,708,932) | (3,264,000) | ||||||||||||||||||||
Issuance of common shares for asset acquisition | 13,400,000 | $ 2,030 | 13,397,970 | ||||||||||||||||||||
Issuance of common shares for asset acquisition, share | 20,303,030 | ||||||||||||||||||||||
Stock compensation expense | 169,645 | 169,645 | |||||||||||||||||||||
Net loss | (3,264,000) | (18,708,932) | (18,708,932) | ||||||||||||||||||||
Ending Balance at Mar. 31, 2023 | $ 3,786,000 | 7,164,654 | 2,000 | $ 6,559 | 141,156,000 | 85,017,136 | 21,000 | 10,645,000 | $ 8,062 | (148,038,000) | (77,867,103) | ||||||||||||
Ending Balance, shares at Mar. 31, 2023 | 1,692,000 | 65,589,619 | 80,616,229 | ||||||||||||||||||||
Beginning Balance at Dec. 31, 2022 | $ 6,598,000 | 12,303,941 | 2,000 | $ 4,529 | 140,571,000 | 71,449,521 | 21,000 | (59,158,171) | 10,776,000 | $ 8,062 | (144,772,000) | (59,158,171) | |||||||||||
Beginning Balance, shares at Dec. 31, 2022 | 1,673,000 | 45,286,589 | 80,616,229 | ||||||||||||||||||||
Loss for the period | (29,316,826) | ||||||||||||||||||||||
Issuance of common shares for asset acquisition | 15,000,000 | $ 2,272 | 14,997,728 | ||||||||||||||||||||
Issuance of common shares for asset acquisition, share | 22,727,272 | ||||||||||||||||||||||
Shares repurchased | (24,751) | (24,745) | $ (6) | ||||||||||||||||||||
Shares repurchased, share | (55,000) | ||||||||||||||||||||||
Stock compensation expense | 478,890 | 478,890 | |||||||||||||||||||||
Net loss | (29,316,826) | (29,316,826) | |||||||||||||||||||||
Ending Balance at Dec. 31, 2023 | $ (164,000) | (1,558,746) | 10,000 | $ 6,801 | 145,090,000 | 86,901,394 | 21,000 | (88,474,997) | 10,252,000 | $ 8,056 | (155,537,000) | (88,474,997) | |||||||||||
Ending Balance, shares at Dec. 31, 2023 | 10,167,000 | 68,013,861 | 80,561,229 | ||||||||||||||||||||
Beginning Balance at Jun. 30, 2023 | $ 731,000 | $ 2,000 | 141,438,000 | 21,000 | 10,645,000 | (151,375,000) | |||||||||||||||||
Beginning Balance, shares at Jun. 30, 2023 | 1,692,000 | 1,692,000 | |||||||||||||||||||||
Conversion of Series C Preferred stock to common stock | 37,000 | (37,000) | |||||||||||||||||||||
Conversion of Series C preferred stock to common stock, shares | 1,000 | ||||||||||||||||||||||
Stock option expense | $ 160,000 | 160,000 | |||||||||||||||||||||
Restricted stock unit expense | 47,000 | 47,000 | |||||||||||||||||||||
Series A Preferred cash dividend | $ (2,000) | (2,000) | |||||||||||||||||||||
Series C Preferred stock dividend | 173,000 | (173,000) | |||||||||||||||||||||
Series C Preferred stock dividend, shares | 49,000 | ||||||||||||||||||||||
Loss for the period | $ (2,962,000) | (2,962,000) | |||||||||||||||||||||
Issuance of shares on vesting of restricted stock units, shares | 4,000 | ||||||||||||||||||||||
Ending Balance at Sep. 30, 2023 | $ (2,026,000) | $ 2,000 | 141,855,000 | 21,000 | 10,608,000 | (154,512,000) | |||||||||||||||||
Ending Balance, shares at Sep. 30, 2023 | 1,746,000 | ||||||||||||||||||||||
Beginning Balance at Jun. 30, 2023 | $ 731,000 | $ 2,000 | 141,438,000 | 21,000 | 10,645,000 | (151,375,000) | |||||||||||||||||
Beginning Balance, shares at Jun. 30, 2023 | 1,692,000 | 1,692,000 | |||||||||||||||||||||
Loss for the period | $ (5,996,000) | ||||||||||||||||||||||
Net loss | (5,996,000) | ||||||||||||||||||||||
Ending Balance at Mar. 31, 2024 | $ 5,922,000 | (6,066,283) | $ 55,000 | $ 6,807 | 153,144,000 | 87,235,992 | 21,000 | 10,252,000 | $ 8,056 | (157,550,000) | (93,317,139) | ||||||||||||
Ending Balance, shares at Mar. 31, 2024 | 55,305,000 | 68,074,466 | 80,561,229 | ||||||||||||||||||||
Beginning Balance at Sep. 30, 2023 | $ (2,026,000) | 2,000 | 141,855,000 | 21,000 | 10,608,000 | (154,512,000) | |||||||||||||||||
Beginning Balance, shares at Sep. 30, 2023 | 1,746,000 | ||||||||||||||||||||||
Conversion of Series C Preferred stock to common stock | 356,000 | (356,000) | |||||||||||||||||||||
Conversion of Series C preferred stock to common stock, shares | 8,000 | ||||||||||||||||||||||
Stock option expense | $ 165,000 | 165,000 | |||||||||||||||||||||
Restricted stock unit expense | 38,000 | 38,000 | |||||||||||||||||||||
Series A Preferred cash dividend | (2,000) | (2,000) | |||||||||||||||||||||
Loss for the period | (1,023,000) | (1,023,000) | |||||||||||||||||||||
Issuance of shares | $ 105,000 | $ 2,579,000 | $ 8,000 | $ 105,000 | $ 2,571,000 | ||||||||||||||||||
Issuance of shares, shares | 400,000 | 8,013,000 | |||||||||||||||||||||
Ending Balance at Dec. 31, 2023 | $ (164,000) | $ (1,558,746) | 10,000 | $ 6,801 | 145,090,000 | 86,901,394 | 21,000 | $ (88,474,997) | 10,252,000 | $ 8,056 | (155,537,000) | (88,474,997) | |||||||||||
Ending Balance, shares at Dec. 31, 2023 | 10,167,000 | 68,013,861 | 80,561,229 | ||||||||||||||||||||
Stock options exercised | $ 6 | (6) | |||||||||||||||||||||
Stock options exercised, Shares | 250,000 | 60,605 | |||||||||||||||||||||
Stock option expense | $ 156,000 | 156,000 | |||||||||||||||||||||
Restricted stock unit expense | 51,000 | 51,000 | |||||||||||||||||||||
Series A Preferred cash dividend | (2,000) | (2,000) | |||||||||||||||||||||
Loss for the period | (2,011,000) | $ (4,842,142) | (2,011,000) | ||||||||||||||||||||
Issuance of shares | $ 7,892,000 | $ 45,000 | $ 7,847,000 | ||||||||||||||||||||
Issuance of shares, shares | 45,138,000 | ||||||||||||||||||||||
Stock compensation expense | 334,604 | 334,604 | |||||||||||||||||||||
Net loss | (2,011,000) | (4,842,142) | (4,842,142) | ||||||||||||||||||||
Ending Balance at Mar. 31, 2024 | $ 5,922,000 | $ (6,066,283) | $ 55,000 | $ 6,807 | $ 153,144,000 | $ 87,235,992 | $ 21,000 | $ 10,252,000 | $ 8,056 | $ (157,550,000) | $ (93,317,139) | ||||||||||||
Ending Balance, shares at Mar. 31, 2024 | 55,305,000 | 68,074,466 | 80,561,229 |
Condensed Consolidated Interi_5
Condensed Consolidated Interim Statements of Cash Flows - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
Cash flows from operating activities | ||||||||
Loss for the period | $ (2,011,000) | $ (3,264,000) | $ (5,996,000) | $ (11,314,000) | $ (14,649,000) | $ (22,661,000) | ||
Adjustments to reconcile net loss to net cash used in operating activities | ||||||||
Amortization of clinical trial deposit | 0 | 2,150,000 | ||||||
Amortization of intangible assets | 3,225,000 | |||||||
Depreciation of property and equipment | 38,000 | 45,000 | 60,000 | 60,000 | ||||
Change in fair value of milestone liability | 17,000 | 1,000 | 3,000 | (19,000) | ||||
Stock option expense | 481,000 | 1,244,000 | 1,490,000 | 2,248,000 | ||||
Restricted stock unit expense | 136,000 | 164,000 | ||||||
Warrants issued for services | 35,000 | |||||||
Restricted stock units and shares issued for services | 200,000 | |||||||
Changes in operating assets and liabilities | ||||||||
Prepaid expenses, taxes and other receivables | 452,000 | 210,000 | 371,000 | (722,000) | ||||
Clinical trial deposit | 879,000 | (1,700,000) | (1,700,000) | (500,000) | ||||
Accounts payable and accrued liabilities | (1,541,000) | (616,000) | (442,000) | 1,007,000 | ||||
Related party payables | (200,000) | (541,000) | (423,000) | 160,000 | ||||
Net cash used in operating activities | (5,734,000) | (10,357,000) | (11,865,000) | (20,392,000) | ||||
Cash flows from investing activities | ||||||||
Purchase of equipment | (20,000) | (232,000) | (232,000) | |||||
Net cash used in investing activities | (20,000) | (232,000) | (232,000) | |||||
Cash flows from financing activities | ||||||||
Series A Preferred cash dividend | (6,000) | (6,000) | (8,000) | (8,000) | ||||
Net proceeds from the issuance of shares and warrants | 1,903,000 | 21,569,000 | ||||||
Payment of prior year issuance costs | (43,000) | |||||||
Warrants exercised for cash | 74,000 | |||||||
Net cash provided by financing activities | 10,570,000 | 1,854,000 | 1,852,000 | 21,635,000 | ||||
Decrease in cash and cash equivalents | 4,816,000 | (8,735,000) | (10,245,000) | 1,243,000 | ||||
Cash and cash equivalents – beginning of period | 1,535,000 | 11,780,000 | 11,780,000 | 10,537,000 | ||||
Cash and cash equivalents – end of period | 6,351,000 | 3,045,000 | 6,351,000 | 3,045,000 | $ 1,535,000 | $ 11,780,000 | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||||||
Cash flows from operating activities | ||||||||
Loss for the period | (4,842,142) | (18,708,932) | $ (29,316,826) | $ (9,367,513) | ||||
Adjustments to reconcile net loss to net cash used in operating activities | ||||||||
Change in fair value of derivative liability | (12,092) | |||||||
Depreciation of property and equipment | 34,000 | 61,000 | 177,000,000 | 373,000,000 | ||||
Stock compensation expense | 334,604 | 169,645 | 478,890 | 218,275 | ||||
Depreciation and amortization | 34,307 | 60,447 | 177,377 | 373,093 | ||||
Amortization of debt discount | 17,383 | 5,124 | ||||||
Forgiveness of Paycheck Protection Program loan | (294,070) | |||||||
Changes in operating assets and liabilities | ||||||||
Accounts payable and accrued liabilities | 691,880 | (1,216,826) | 337,746 | 1,848,469 | ||||
Other current assets | (1,408) | 200,904 | (1,995) | (356,646) | ||||
Other noncurrent assets | (56,777) | 61,974 | 151,173 | 70,133 | ||||
Write-off of in-process R&D | 16,200,000 | 16,217,655 | ||||||
Net cash used in operating activities | (3,834,245) | (3,232,788) | (11,950,856) | (7,508,259) | ||||
Cash flows from investing activities | ||||||||
Cash paid for asset acquisition | (1,200,000) | (1,217,655) | ||||||
Purchases of property and equipment | (79,224) | (36,277) | ||||||
Net cash used in investing activities | (1,200,000) | (1,296,879) | (36,277) | |||||
Cash flows from financing activities | ||||||||
Shares repurchased | (24,751) | |||||||
Proceeds from convertible note payable | 4,903,000 | 2,685,000 | ||||||
Repayment of note payable | (350,000) | |||||||
Issuance of series B preferred stock with warrants | 16,601,000 | |||||||
Payment of debt issuance costs | (272,297) | |||||||
Net cash provided by financing activities | 4,630,703 | 2,660,249 | 16,251,000 | |||||
Decrease in cash and cash equivalents | 796,458 | (4,432,788) | (10,587,486) | 8,706,464 | ||||
Cash and cash equivalents – beginning of period | 3,665,032 | 14,252,518 | 14,252,518 | 5,546,054 | ||||
Cash and cash equivalents – end of period | 4,461,490 | 9,819,730 | 4,461,490 | 9,819,730 | 3,665,032 | 14,252,518 | ||
Supplemental Cash Flow Information [Abstract] | ||||||||
Issuance of preferred shares for stock prepayment | $ 5,600,000 | |||||||
Debt issuance costs not yet paid | 379,063 | 242,530 | ||||||
Derivative liability associated with make-whole premium | 228,092 | 137,000 | ||||||
Shares issued for asset acquisition | $ 15,000,000 | $ 15,000,000 | ||||||
Right-of-use asset recognized in exhange for operating lease obligations | 318,722 | |||||||
Deferred offering costs not yet paid | $ 284,867 | |||||||
Equity Line [Member] | ||||||||
Cash flows from financing activities | ||||||||
Net proceeds from the issuance of shares | 105,000 | 1,860,000 | ||||||
ATM Facility [Member] | ||||||||
Cash flows from financing activities | ||||||||
Net proceeds from the issuance of shares | $ 10,471,000 | $ 0 |
Nature of operations, corporate
Nature of operations, corporate history, and going concern and management plans | 9 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Nature of operations, corporate history, and going concern and management plans | 1 Nature of operations, corporate history, and going concern and management plans Nature of operations Kintara Therapeutics, Inc. (the “Company”) is a clinical-stage drug development company with a focus on the development of novel cancer therapies for patients with unmet medical needs. The Company is developing one late-stage therapeutic—REM-001 Corporate history The Company is a Nevada corporation formed on June 24, 2009, under the name Berry Only, Inc. On January 25, 2013, the Company entered into and closed an exchange agreement (the “Exchange Agreement”), with Del Mar Pharmaceuticals (BC) Ltd. (“Del Mar (BC)”), 0959454 B.C. Ltd. (“Callco”), and 0959456 B.C. Ltd. (“Exchangeco”) and the security holders of Del Mar (BC). Upon completion of the Exchange Agreement, Del Mar (BC) became a wholly-owned subsidiary of the Company (the “Reverse Acquisition”). On August 19, 2020, the Company completed its merger with Adgero Biopharmaceuticals Holdings, Inc., a Delaware corporation (“Adgero”) in which Adgero continued its existence under Delaware law and became a direct, wholly-owned subsidiary of the Company. Following the completion of the merger, the Company changed its name from DelMar Pharmaceuticals, Inc. to Kintara Therapeutics, Inc. and began trading on The Nasdaq Capital Market LLC (“Nasdaq”) under the symbol “KTRA”. Kintara Therapeutics, Inc. is the parent company of Del Mar (BC), a British Columbia, Canada corporation and Adgero which are clinical-stage companies with a focus on the development of drugs for the treatment of cancer. The Company is also the parent company to Callco and Exchangeco which are British Columbia, Canada corporations. Callco and Exchangeco were formed to facilitate the Reverse Acquisition. In connection with the Adgero merger, the Company also became the parent company of Adgero Biopharmaceuticals, Inc. (“Adgero Bio”), formerly a wholly-owned subsidiary of Adgero. References to the Company refer to the Company and its wholly-owned subsidiaries. Going concern and management plans These condensed consolidated interim financial statements have been prepared on a going concern basis which assumes that the Company will continue its operations for the foreseeable future and contemplates the realization of assets and the settlement of liabilities in the normal course of business. For the nine March 2024 5,996 and a negative cash flow from operations of $ 5,734 . The Company had an accumulated deficit of $ 157,550 and had cash and cash equivalents of $ 6,351 as of March 2024 662 shares of common stock for $ 2,008 in net proceeds as of March 2024 awarded approximately $ 2,000 in grant funding to be received over a two-year REM-001 nine March 2024 53,151 shares of common stock for net proceeds of $ 10,471 from its at-the-market VAL-083. These circumstances indicate substantial doubt exists about the Company’s ability to continue as a going concern within one year from the date of filing of these condensed consolidated interim financial statements. On April 2, 2024, the Company entered into a merger agreement with TuHURA Biosciences, Inc. (Note 10). Consequently, management is pursuing various financing alternatives to fund the Company’s operations so it can continue as a going concern. Management plans to continue to pursue opportunities to secure the necessary financing through the issue of new equity, including debt, entering into strategic partnership arrangements, and/or pursuing additional strategic transactions in the event the Company does not receive stockholder approval for the proposed merger transaction or the merger is not otherwise consummated. However, the Company’s ability to raise additional capital could be affected by various risks and uncertainties including, but not limited to, global unrest. The Company may not be able to raise sufficient additional capital and may need to tailor its drug candidate development programs based on the amount of funding the Company is able to raise in the future. Nevertheless, there is no assurance that these initiatives will be successful. These condensed consolidated interim financial statements do not give effect to any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. Such adjustments could be material. | 1. Nature of operations, corporate history, and going concern and management plans Nature of operations Kintara Therapeutics, Inc. (the “Company”) is a clinical-stage drug development company with a focus on the development of novel cancer therapies for patients with unmet medical needs. The Company is developing two late-stage therapeutics—VAL-083 REM-001 Corporate history The Company is a Nevada corporation formed on June 24, 2009, under the name Berry Only, Inc. On January 25, 2013, the Company entered into and closed an exchange agreement (the “Exchange Agreement”), with Del Mar Pharmaceuticals (BC) Ltd. (“Del Mar (BC)”), 0959454 B.C. Ltd. (“Callco”), and 0959456 B.C. Ltd. (“Exchangeco”) and the security holders of Del Mar (BC). Upon completion of the Exchange Agreement, Del Mar (BC) became a wholly-owned subsidiary of the Company (the “Reverse Acquisition”). On August 19, 2020, the Company completed its merger with Adgero Biopharmaceuticals Holdings, Inc., a Delaware corporation (“Adgero”) in which Adgero continued its existence under Delaware law and became a direct, wholly-owned subsidiary of the Company. Following the completion of the merger, the Company changed its name from DelMar Pharmaceuticals, Inc. to Kintara Therapeutics, Inc. and began trading on The Nasdaq Capital Market LLC (“Nasdaq”) under the symbol “KTRA”. Kintara Therapeutics, Inc. is the parent company of Del Mar (BC), a British Columbia, Canada corporation and Adgero which are clinical-stage companies with a focus on the development of drugs for the treatment of cancer. The Company is also the parent company to Callco and Exchangeco which are British Columbia, Canada corporations. Callco and Exchangeco were formed to facilitate the Reverse Acquisition. In connection with the Adgero merger, the Company also became the parent company of Adgero Biopharmaceuticals, Inc. (“Adgero Bio”), formerly a wholly-owned subsidiary of Adgero. References to the Company refer to the Company and its wholly-owned subsidiaries. Going concern and management plans These consolidated financial statements have been prepared on a going concern basis which assumes that the Company will continue its operations for the foreseeable future and contemplates the realization of assets and the settlement of liabilities in the normal course of business. For the year ended June 30, 2023, the Company reported a loss of $14,649 and a negative cash flow from operations of $11,865. The Company had an accumulated deficit of $151,375 and had cash and cash equivalents of $1,535 as of June 30, 2023. The Company is in the clinical stage and has not generated any revenues to date. The Company does not have the prospect of achieving revenues until such time that its product candidates are commercialized, or partnered, which may not ever occur. On August 2, 2022, the Company entered into a stock purchase agreement under which the Company ultimately received approximately $1,903 in net proceeds as of June 30, 2023, which is the current maximum available under the stock purchase agreement. In addition, on June 28, 2023, the Company announced that it had been awarded approximately $2.0 million in grant funding to be received over a two year period for its REM-001 Consequently, management is pursuing various financing alternatives to fund the Company’s operations so it can continue as a going concern. Management plans to continue to pursue opportunities to secure the necessary financing through the issue of new equity, debt, and/or entering into strategic partnership arrangements. However, the Company’s ability to raise additional capital could be affected by various risks and uncertainties including, but not limited to, global unrest. The Company may not be able to raise sufficient additional capital and may tailor its drug candidate development programs based on the amount of funding the Company is able to raise in the future. Nevertheless, there is no assurance that these initiatives will be successful. These consolidated financial statements do not give effect to any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. Such adjustments could be material. |
Description of business
Description of business | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||
Description of Business [Line Items] | ||
Description of business | Note 1—Description of business TuHURA Biosciences, Inc. (the “Company”) is a clinical stage immuno-oncology company, headquartered in Tampa, Florida. The Company’s principal products, collectively referred to as ImmuneFx (“IFx”), are a platform of cancer vaccines that utilize both cell and gene therapies to stimulate the immune system to recognize and combat tumor cells. More specifically, IFx employs the expression of a proprietary protein, Emm55, which evokes enhanced tumor recognition and broad immune activation. This leads to a systemic and sustained response against tumor cells of the type that expressed the protein. Importantly, this mechanism of action has applicability to a wide range of cancer sub-types, and the clinical development program is, therefore, multi-pronged. In 2020, the Company completed a first human clinical trial, a Phase I trial for melanoma, at Moffitt Cancer Center in Tampa, Florida. The Company completed another Phase I trial for Merkel and Squamous cell cancer and is preparing a Phase II trial for Merkel cell carcinoma that is expected to begin in the second half of 2024. In addition to its cancer vaccine product candidates, the Company is leveraging its Delta receptor technology to develop bi-functional antibody drug conjugates (“ADC’s”), targeting Myeloid Derived Suppressor Cells (“MDSCs”) to inhibit their immune suppressing effects on the tumor microenvironment to prevent T cell exhaustion and acquired resistance to checkpoint inhibitors and cellular therapies. Pending merger with Kintara – As of April 2, 2024, the Company entered into a definitive agreement with Kintara, a publicly traded company on NASDAQ, for an all-stock transaction forming a company with expertise and resources to advance a risk diversified late-stage oncology pipeline. Upon completion of the merger, the former Company shareholders will own the majority of the shares of the public company. The new combined company shares are expected to trade on NASDAQ under the symbol “HURA”. The transaction is expected to close in the third quarter of 2024. | Note 1—Description of business TuHURA Biosciences, Inc. (the “Company”) is a clinical stage immuno-oncology company, headquartered in Tampa, Florida. The Company’s principal products, collectively referred to as ImmuneFx (“IFx”), are a platform of cancer vaccines that utilize both cell and gene therapies to stimulate the immune system to recognize and combat tumor cells. More specifically, IFx employs the expression of a proprietary protein, Emm55, which evokes enhanced tumor recognition and broad immune activation. This leads to a systemic and sustained response against tumor cells of the type that expressed the protein. Importantly, this mechanism of action has applicability to a wide range of cancer sub-types, In addition to its cancer vaccine product candidates, the Company is leveraging its Delta receptor technology to develop bi-functional antibody drug conjugates (“ADC’s”), targeting Myeloid Derived Suppressor Cells (“MDSCs”) to inhibit their immune suppressing effects on the tumor microenvironment to prevent T cell exhaustion and acquired resistance to checkpoint inhibitors and cellular therapies. Proposed merger with Kintara – all-stock Terminated merger with CohBar - Change of jurisdiction Name change to TuHURA – |
Significant Accounting Policies
Significant Accounting Policies | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | |
Significant accounting policies | 2 Significant accounting policies Reverse stock split On November 10, 2022, the Company filed a Certificate of Change to the Company’s Articles of Incorporation, as amended, in order to effectuate a 1: 50 reverse stock split (the “Reverse Stock Split”) of its issued and outstanding common stock as well as its authorized shares of common stock. As a result of the Reverse Stock Split, every 50 shares of issued and outstanding common stock were converted into one share of common stock with a proportionate reduction in the Company’s authorized shares of common stock. Any fractional shares of common stock resulting from the Reverse Stock Split were rounded up to the nearest whole post-Reverse Stock Split share. The Reverse Stock Split did not change the par value of the Company’s common stock. All outstanding securities entitling their holders to acquire shares of common stock were adjusted as a result of the Reverse Stock Split. All common share and per share data are retrospectively restated to give effect to the Reverse Stock Split for all periods presented herein. Basis of presentation The condensed consolidated interim financial statements of the Company have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) and are presented in United States dollars. The functional currency of the Company and each of its subsidiaries is the United States dollar. The accompanying condensed consolidated interim financial statements include the accounts of the Company and its wholly-owned subsidiaries, Adgero, Adgero Bio, Del Mar (BC), Callco, and Exchangeco. All intercompany balances and transactions have been eliminated in consolidation. The principal accounting policies applied in the preparation of these condensed consolidated interim financial statements are set out below and have been consistently applied to all periods presented. Unaudited interim financial data The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. Accordingly, they do not include all of the information and the notes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated interim financial statements should be read in conjunction with the June 30, 2023, audited consolidated financial statements of the Company included in this document. In the opinion of management, the unaudited condensed consolidated interim financial statements reflect all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation. The results for nine months ended March 31, 2024, are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2024, or for any other future annual or interim period. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events that affect the reported amounts of assets, liabilities, expenses, contingent assets, and contingent liabilities as at the end of, or during, the reporting period. Actual results could significantly differ from those estimates. Significant areas requiring management to make estimates include the valuation of equity instruments issued for services, milestone payment liability, and clinical trial accruals. Further details of the nature of these assumptions and conditions may be found in the relevant notes to these condensed consolidated interim financial statements. Loss per share Income or loss per share is calculated based on the weighted average number of common shares outstanding. For the nine-month periods ended March 31, 2024, and 2023, diluted loss per share does not differ from basic loss per share since the effect of the Company’s warrants, stock options, restricted stock units, and convertible preferred shares is anti-dilutive. As of March 31, 2024, potential common shares of 693 (2023 – 713) related to outstanding common share warrants, 42 (2023 – 42) related to outstanding Series C preferred stock warrants, 222 (2023 – 198) related to stock options, 66 (2023 - 18) related to restricted stock units, and 235 (2023 – 245) relating to outstanding Series C convertible preferred shares were excluded from the calculation of net loss per common share. Government assistance Government grants, including grants from similar bodies, are recognized when there is reasonable assurance that the Company has met the requirements of the approved grant program and there is reasonable assurance that the grant will be received. Grants that compensate the Company for expenses incurred are recognized in income or loss in reduction thereof in the same period in which the expenses are recognized. The Company uses a net presentation basis whereby the grant offsets the research and development expenses as it is being recovered under the grant program. Recently issued accounting standards Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated interim financial statements. | 2. Significant accounting policies Reverse stock split On November 10, 2022, the Company filed a Certificate of Change to the Company’s Articles of Incorporation, as amended, in order to effectuate a 1:50 reverse stock split (the “Reverse Stock Split”) of its issued and outstanding common stock as well as its authorized shares of common stock. As a result of the Reverse Stock Split, every 50 shares of issued and outstanding common stock were converted into one share of common stock with a proportionate reduction in the Company’s authorized shares of common stock. Any fractional shares of common stock resulting from the Reverse Stock Split were rounded up to the nearest whole post-Reverse Stock Split share. The Reverse Stock Split did not change the par value of the Company’s common stock. All outstanding securities entitling their holders to acquire shares of common stock were adjusted as a result of the Reverse Stock Split. All common share and per share data are retrospectively restated to give effect to the Reverse Stock Split for all periods presented herein. Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) and are presented in United States dollars. The functional currency of the Company and each of its subsidiaries is the United States dollar. The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Adgero, Adgero Bio, Del Mar (BC), Callco, and Exchangeco. All intercompany balances and transactions have been eliminated in consolidation. The principal accounting policies applied in the preparation of these consolidated financial statements are set out below and have been consistently applied to all periods presented. Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Adgero, Adgero Bio, Del Mar BC, Callco, and Exchangeco as of, and for the years ended June 30, 2023, and 2022. All intercompany balances and transactions have been eliminated in consolidation. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events that affect the reported amounts of assets, liabilities, expenses, contingent assets, and contingent liabilities as at the end of, or during, the reporting period. Actual results could significantly differ from those estimates. Significant areas requiring management to make estimates include the valuation of equity instruments issued for services, the milestone payment liability, and clinical trial accruals. Further details of the nature of these assumptions and conditions may be found in the relevant notes to these consolidated financial statements. Cash and cash equivalents Cash and cash equivalents consist of cash and highly liquid investments with original maturities from the purchase date of three months or less that can be readily convertible into known amounts of cash. Cash and cash equivalents are held at recognized Canadian and United States financial institutions. Interest earned is recognized in the consolidated statement of operations. Foreign currency translation The functional currency of the Company at June 30, 2023, is the United States dollar. Transactions that are denominated in a foreign currency are remeasured into the functional currency at the current exchange rate on the date of the transaction. Any foreign-currency denominated monetary assets and liabilities are subsequently remeasured at current exchange rates, with gains or losses recognized as foreign exchange losses or gains in the consolidated statement of operations. Non-monetary Property and equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over its estimated useful life of three Income taxes The Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. To the extent that deferred tax assets cannot be recognized under the preceding criteria, the Company establishes valuation allowances, as necessary, to reduce deferred tax assets to the amounts expected to be realized. As of June 30, 2023, and 2022, all deferred tax assets were fully offset by a valuation allowance. The realization of deferred tax assets is dependent upon future federal, state and foreign taxable income. The Company’s judgments regarding deferred tax assets may change due to future market conditions, as the Company expands into international jurisdictions, due to changes in U.S. or international tax laws and other factors. These changes, if any, may require material adjustments to the Company’s deferred tax assets, resulting in a reduction in net income or an increase in net loss in the period in which such determinations are made. The Company recognizes the impact of uncertain tax positions based upon a two-step position does not meet a more-likely-than-not more-likely-than-not The Company does not record U.S. income taxes on the undistributed earnings of its foreign subsidiaries based upon the Company’s intention to permanently reinvest undistributed earnings to ensure sufficient working capital and further expansion of existing operations outside the United States. As June 30, 2023, the Company’s foreign subsidiaries operated at a cumulative deficit for U.S. earnings and profit purposes. In the event the Company is required to repatriate funds from outside of the United States, such repatriation would be subject to local laws, customs, and tax consequences. Determination of the amount of unrecognized deferred tax liability related to these earnings is not practicable. Financial instruments The Company has financial instruments that are measured at fair value. To determine the fair value, the Company uses the fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use to value an asset or liability and are developed based on market data obtained from independent sources. Unobservable inputs are inputs based on assumptions about the factors market participants would use to value an asset or liability. The three levels of inputs that may be used to measure fair value are as follows: • Level one - inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level two - inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals; and • Level three - unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. As of June 30, 2023, the Company’s milestone payment liability was measured using level 3 inputs. The Company’s financial instruments consist of cash and cash equivalents, other receivables, accounts payable, and related party payables. The carrying values of cash and cash equivalents, other receivables, accounts payable and related party payables approximate their fair values due to the immediate or short-term maturity of these financial instruments. Intangible assets Patents Expenditures associated with the filing, or maintenance of patents, licensing or technology agreements are expensed as incurred. Costs previously recognized as an expense are not recognized as an asset in subsequent periods. If the Company achieves regulatory approval, patent costs will be deferred and amortized over the remaining life of the related patent. Accruals for research and development expenses and clinical trials As part of the process of preparing its financial statements, the Company is required to estimate its expenses resulting from its obligations under contracts with vendors, clinical research organizations and consultants, and under clinical site agreements in connection with conducting clinical trials. The financial terms of these contracts are subject to negotiations, which vary from contract to contract and may result in payment terms that do not match the periods over which materials or services are provided under such contracts. The Company’s objective is to reflect the appropriate expenses in its financial statements by matching those expenses with the period in which services are performed and efforts are expended. The Company accounts for these expenses according to the timing of various aspects of the expenses. The Company determines accrual estimates by taking into account discussion with applicable personnel and outside service providers as to the progress of clinical trials, or the services completed. During the course of a clinical trial, the Company adjusts its clinical expense recognition if actual results differ from its estimates. The Company makes estimates of its accrued expenses as of each balance sheet date based on the facts and circumstances known to it at that time. The Company’s clinical trial accruals are dependent upon the timely and accurate reporting of contract research organizations and other third-party vendors. Although the Company does not expect its estimates to be materially different from amounts actually incurred, its understanding of the status and timing of services performed relative to the actual status and timing of services performed may vary and may result in it reporting amounts that are too high or too low for any particular period. For the years ended June 30, 2023, and 2022, there were no material adjustments to the Company’s prior period estimates of accrued expenses for clinical trials. Warrants and shares issued for services The Company has issued equity instruments for services provided by employees and non-employees. Stock options The Company recognizes compensation costs resulting from the issuance of stock-based awards to employees, non-employees 2018-07, 2018-07”), non-employee Restricted stock units The Company recognizes compensation costs resulting from the issuance of restricted stock units (“RSUs”) as an expense in the statement of operations over the service period based on a measurement of fair value for each RSU award. The RSUs are valued using the closing price of the Company’s common stock on the date of issuance with the total expense being recognized over the vesting period of the respective RSUs. Loss per share Income or loss per share is calculated based on the weighted average number of common shares outstanding. For the years ended June 30, 2023, and 2022, diluted loss per share does not differ from basic loss per share since the effect of the Company’s warrants, stock options, restricted stock units, and convertible preferred shares is anti-dilutive. As of June 30, 2023, potential common shares of 713 (2022 – 720) related to outstanding common share warrants, 42 (2022 – 42) related to outstanding Series C preferred stock warrants, 198 (2022 – 176) related to stock options, 78 (2022—nil ) related to restricted stock units, and 245 (2022 – 290) relating to outstanding Series C convertible preferred shares were excluded from the calculation of net loss per common share. Segment information The Company identifies its operating segments based on business activities, management responsibility and geographical location. The Company operates within a single Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that are adopted by the Company as of the specified effective date. During the year ended June 30, 2023, there have been no new, or existing, recently issued accounting pronouncements that are of significance, or potential significance, that impact the Company’s consolidated financial statements. | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||
Significant accounting policies | Note 2—Summary of significant accounting policies Basis for Consolidation – The consolidated financial statements are comprised of all of the accounts of TuHURA Biosciences, Inc. and Veterinary Oncology Services, a wholly owned subsidiary (collectively the “Company”). All intercompany accounts and transactions have been eliminated in consolidation. Accounting Estimates – The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect various amounts reported in consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Deferred Offering Costs – Deferred offering costs consist of direct legal, accounting, and other fees and costs directly related to the Company’s pending merger (See note 1 and 11). The Company capitalized deferred offering costs prior to the close of the merger which are included in other assets within the condensed consolidated balance sheet as of March 31, 2024. Should the pending merger be abandoned, the deferred offering costs will be expensed immediately as a charge to general and administrative expense in the consolidated condensed statement of operations. The Deferred offering costs were $0.3 million and $0 million as of March 31, 2024 and December 31, 2023, respectively. Property and Equipment – Property and equipment are carried at cost, less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets (generally five to seven years). Leasehold improvements are amortized straight-line over the shorter of the lease term or the estimated useful life of the asset. Property and equipment are reviewed for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. No impairment was recorded for the period ended March 31, 2024, nor the year ended December 31, 2023. Lease Accounting – In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases ( Topic 842 ). The guidance in ASU 2016-02 supersedes the lease recognition requirements in ASC Topic 840, Leases . ASU 2016-02 requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases, along with additional qualitative and quantitative disclosures. Income Taxes – Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes ( Topic 740 ), which enhances the income tax disclosure requirements for public entities on an annual basis. Under ASU 2023-09, public entities will be required to disclose in their rate reconciliation, on an annual basis, both percentages and amounts in their reporting currency for certain categories in a tabular format, with accompanying qualitative disclosures. The amendments in ASU 2023-09 are effective fiscal years beginning after December 31, 2024, and early adoption is permitted. The Company does not believe that the adoption of ASU 2023-09 will have a material impact on its condensed consolidated financial statements. Research and Development Expenses – Research and development consists of expenses incurred in connection with the discovery and development of product candidates. The Company expenses research and development costs as incurred Acquired In-Process Acquired in-process research and development expenses consist of existing research and development projects at the time of the acquisition. Projects that qualify as IPR&D assets represent those that have not yet reached technological feasibility and had no alternative future use, which resulted in a write-off of these IPR&D assets to acquired in-process research and development expenses in our consolidated statements of operations. Concentration of Credit Risk – The Company maintains cash balances in banks. These balances are insured by the Federal Deposit Insurance Corporation up to $250,000. As of March 31, 2024, the uninsured portion of cash held by the Company was approximately $3,960,000. Fair Value of Financial Instruments – ASC 820, Fair Value Measurement, establishes a fair value hierarchy for instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s own assumptions (unobservable inputs). Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances. ASC 820 identifies fair value as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a three-tier fair value hierarchy that distinguishes between the following: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 inputs are unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. To the extent that the 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 in determining fair value is greatest for 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. See Note 7 for more information related to the Company’s Level 3 fair value measurement. The carrying values reported in the Company’s balance sheets for cash and cash equivalents, other current assets, accounts payable, and accrued expenses are reasonable estimates of their fair values due to the short-term nature of these items. Derivative Financial Instruments – The Company evaluates all of its agreements to determine if such instruments have derivatives or contain features that qualify as embedded derivatives. The Company accounts for certain make-whole features that are associated with convertible notes as derivative liabilities at fair value and adjusts the instruments to their fair value at the end of each reporting period. Derivative financial liabilities are initially recorded at fair value, with gains and losses arising from changes in the fair value recognized in other income (expense) in the accompanying consolidated statements of operations for each reporting period while such instruments are outstanding. The embedded derivative liabilities are valued using a probability-weighted expected return method (“PWERM”). The critical inputs used to value the PWERM are a discount rate of 19.68%, the estimated make-whole interest payments for various settlement scenarios and the probability of each settlement scenario. If the Company repays the noteholders or if, during the next round of financing, the noteholders convert the debt into equity, the derivative financial liabilities will be de-recognized and reclassified to the condensed consolidated statements of stockholders’ (deficit) equity on that date. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. Debt Discount and Debt Issuance Costs - Debt issuance costs are deferred and presented as a reduction to the convertible note payable. The initial fair value of the derivative liability on the make-whole premium is treated as a debt discount. Debt discount and debt issuance costs are amortized using the effective interest rate method over the term of the convertible promissory note. Amortization of debt discount and debt issuance costs are included within interest expense in the condensed consolidated statements of operations. Stock Compensation Expense – The Company accounts for stock-based awards to employees and nonemployees using the fair value-based method to determine compensation for all arrangements where shares of stock or equity instruments are issued for compensation. Fair value of each common stock option is estimated on the date of grant using the Black-Scholes valuation model. The Black-Scholes model uses assumptions for expected volatility, expected dividends, expected term, and the risk-free interest rate. Expected volatility is based on historical volatility of a peer group’s common stock and other factors estimated over the expected term of the options. The expected term of the options granted is derived using the “simplified method” which computes expected term as the average of the sum of the average vesting term plus the contract term. The risk-free rate is based on the U.S. Treasury yield. Common Stock Valuation – We are required to estimate the fair value of the common stock underlying our equity awards when performing fair value calculations. The fair value of the common stock underlying our equity awards was determined on each grant taking into account input from management and taking into account the pricing offered in our equity raises. All options to purchase shares of our common stock are intended to be granted with an exercise price per share no less than the fair value per share of our common stock underlying those options on the date of grant, based on the information known to us on the date of grant. In the absence of a public trading market for our common stock, on each grant date we develop an estimate of the fair value of our common stock in order to determine an exercise price for the option grants. Our determinations of the fair value of our common stock were made by considering the prices of preferred stock sold to investors in arm’s length transactions and the rights, preferences and privileges of our preferred stock relative to those of our common stock. Business Combinations and Asset Acquisitions – We account for acquired businesses using the acquisition method of accounting, which requires that the assets acquired, and liabilities assumed be recorded at the date of acquisition at their respective fair values if the acquisition meets the definition of a business combination. If the acquisition does not meet the definition of a business combination, then it is accounted for as an asset acquisition and the purchase consideration is allocated to the acquired assets. ASC 805, Business Combinations, provides a model for determining whether an acquisition represents a business combination. In order to be a business, the integrated set of activities of the acquired entity needs to have an input and a substantive process that together significantly contribute to the ability to create outputs. The acquired entity must also pass the “Screen Test” which involves determining whether the acquisition represents an in-substance asset acquisition based on whether the fair value of the gross assets acquired is “substantially all” concentrated in a single asset or group of similar assets. This evaluation excludes certain acquired assets such as cash, deferred taxes, and goodwill associated with deferred taxes, but includes all other gross assets, including any consideration transferred in excess of the identified assets. | Note 2—Summary of significant accounting policies Basis for Consolidation Accounting Estimates Property and Equipment Lease Accounting No. 2016-02, Topic 842 2016-02 Leases 2016-02 2016-02 Income Taxes Grant Income— low-cost Research and Development Expenses Acquired In-Process in-process write-off in-process Concentration of Credit Risk Fair Value of Financial Instruments the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances. ASC 820 identifies fair value as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a three-tier fair value hierarchy that distinguishes between the following: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 inputs are unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. To the extent that the 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 in determining fair value is greatest for 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. See Note 7 for more information related to the Company’s Level 3 fair value measurement. The carrying values reported in the Company’s balance sheets for cash and cash equivalents, other current assets, accounts payable, and accrued expenses are reasonable estimates of their fair values due to the short-term nature of these items. Derivative Financial Instruments – de-recognized non-current net-cash Debt Discount and Debt Issuance Costs – a debt discount. Debt discount and debt issuance costs are amortized using the effective interest rate method over the term of the convertible promissory note. Amortization of debt discount and debt issuance costs are included within interest expense in the consolidated statements of operations. Stock Compensation Expense Common Stock Valuation Business Combinations and Asset Acquisitions ASC 805, Business Combinations, provides a model for determining whether an acquisition represents a business combination. In order to be a business, the integrated set of activities of the acquired entity needs to have an input and a substantive process that together significantly contribute to the ability to create outputs. The acquired entity must also pass the “Screen Test” which involves determining whether the acquisition represents an in-substance |
Liquidity And Management's Plan
Liquidity And Management's Plans | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||
Liquidity And Management Plans [Line Items] | ||
Liquidity and management's plans | Note 3—Liquidity and management’s plans The Company has been engaged in research and development activities related to ImmuneFx, the Company’s patented product, which will require additional investment until revenue-generating activities can begin. The Company has historically incurred negative cash flows from operations. For the three months ended March 31, 2024, the Company incurred $3.8 million of negative cash flows from operations. The Company has approximately $ 4.5 million of cash and cash equivalents on hand at March 31, 2024. It is expected that this, along with the convertible notes proceeds of $ 23,665,000 raised after March 31, 2024 will be to fund future operations, including the expanded clinical trials, to the end of 2025. The Company expects to raise cash through the sale of common or preferred shares, issuance of convertible notes, obtaining grants, or commercial partnerships. However, there can be no assurance that any fundraising will be achieved or on commercially reasonable terms, if at all. As such, there is substantial doubt about the Company’s ability to continue as a going concern for the next 12 months from date that the financial statements were available to be issued. | Note 3—Liquidity and management’s plans The Company has been engaged in research and development activities related to ImmuneFx, the Company’s patented product, which will require additional investment until revenue-generating activities can begin. The Company has historically incurred negative cash flows from operations. For the year ended December 31, 2023, the Company incurred $12.0 million of negative cash flows from operations. The Company has approximately $3.7 million of cash and cash equivalents on hand at December 31, 2023. It is expected that this along with the convertible notes proceeds of $4,903,000 raised through March 31, 2024 will be sufficient to fund future operations, including the expanded clinical trials into late 2024. The Company expects to raise cash through the issuance of convertible notes, sale of common or preferred shares, obtaining grants, or commercial partnerships. However, there can be no assurance that any fundraising will be achieved or on commercially reasonable terms, if at all. As such, there is substantial doubt about the Company’s ability to continue as a going concern for the next 12 months from date that the financial statements were available to be issued. |
Clinical Trial Deposit
Clinical Trial Deposit | 9 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Jun. 30, 2023 | |
Other Liabilities [Abstract] | ||
Clinical Trial Deposit | 3 Clinical trial deposit In October 2020, the Company announced that it had entered into a final agreement with a contract research organization (“CRO”) for the management of the Company’s registrational study of VAL-083 for glioblastoma. Under the agreement, the Company supplied the drug for the study and the CRO managed all operational aspects of the study including site activation and patient enrollment. The Company was required to make certain payments under the agreement related to patient enrollment milestones. For the three and nine months ended March 31, 2024, the Company has recognized a recovery of $ (202 3 expense) and an expense of $ (202 3 ), respectively, for this study in relation to clinical site initiation and patient enrollment. On October 31, 2023, the Company announced that preliminary topline results from this registrational study for VAL-083 did not perform better than the current standards of care in glioblastoma. As a result, the Company announced that it has terminated the development of VAL-083. In the nine months ended March 31, 2024, the remaining deposit of $1,075 was offset against amounts owing to the CRO and the agreement with the CRO was terminated with an additional final cost of $ 1,000 , which was paid in the nine months ended March 31, 2024. In the nine months ended March 31, 2024, the Company recorded $ 196 as a deposit with a CRO for the management of the Company’s 15-patient study of REM-001 for cutaneous metastatic breast cancer (“CMBC”). | 3. Clinical trial deposit In October 2020, the Company announced that it had entered into a final agreement with a contract research organization (“CRO”) for the management of the Company’s registrational study for glioblastoma. Under the agreement, the Company will supply the drug for the study and the CRO will manage all operational aspects of the study including site activation and patient enrollment. The Company is required to make certain payments under the agreement related to patient enrollment milestones. For the year ended June 30, 2023, the Company has recognized $5,065 (2022—$8,163) of expenses for this study in relation to clinical site initiation and patient enrollment. During the year ended June 30, 2023, the Company paid an additional $1,700 to the CRO in relation to the study deposit and has expensed $3,225 of the deposit. As of June 30, 2023, the remaining deposit balance for payments made to the CRO is $1,075. It is anticipated that the deposit will be recognized as an expense, applied to future invoices, or refunded to the Company, by September 30, 2023. The Company can terminate the study at any time. Upon termination, the Company will be liable for any payments due to the effective date of the termination as well as any non-refundable |
Clinical Trials Grant
Clinical Trials Grant | 6 Months Ended |
Dec. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Clinical Trials Grant | 4 Clinical trials grant Effective July 1, 2023, the Company was awarded a $ 2,000 Small Business Innovation Research grant from the National Institutes of Health (“NIH”) to support the clinical development of REM-001 for the treatment of cutaneous metastatic breast cancer. The grant will be received in two tranches: approximately $ for the period July 1, 2023, to June 30, 2024, and approximately $ for the period July 1, 2024, to June 30, 2025. As a result of receiving the grant, the REM-001, 15-patient clinical trial will be re-started. The grant is expended to the Company as a reimbursement of expenditures incurred. During the three and nine March 2024 (202 3 ) and $ (202 3 ), respectively, for grants received against research and development expenditures in the period. The grant is subject to various performance conditions and funding risk where the financial conditions of the NIH may change from time to time. The Company recognizes the grant only to the extent there is reasonable assurance the grant will be funded to the Company. |
Financial instruments
Financial instruments | 9 Months Ended |
Mar. 31, 2024 | |
Investments, All Other Investments [Abstract] | |
Financial Instruments | 9 Financial instruments The Company’s financial instruments are measured at fair value as determined by using the fair value hierarchy for inputs that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use to value an asset or liability and are developed based on market data obtained from independent sources. Unobservable inputs are inputs based on assumptions about the factors market participants would use to value an asset or liability. The three levels of inputs that may be used to measure fair value are as follows: • Level one - inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level two - inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals; and • Level three - unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. As of March 2024 REM-001 program that was acquired in the Adgero merger (note 1). March 31, 2024 Liability Level 1 Level 2 Level 3 Milestone payment liability — — 183 $ Balance – June 30, 2023 166 Change in fair value estimate 17 Balance – March 31, 2024 183 The Company’s financial instruments consist of cash and cash equivalents, other receivables, accounts payable, and related party payables. The carrying values of cash and cash equivalents, other receivables, accounts payable and related party payables approximate their fair values due to the immediate or short-term maturity of these financial instruments. |
Property and Equipment, Net
Property and Equipment, Net | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | |
Property, Plant and Equipment [Line Items] | ||||
Property and Equipment, Net | 5 Property and equipment, net $ Balance, June 30, 2023 709 Additions 20 Depreciation (38 ) Balance, March 31, 2024 691 At March 2024 879 (June 30, 2023 - $ ), of which $ 599 is not in use. The Company has recognized $ 38 (2023 - $45) in in nine March 2024 | 4. Property and equipment, net $ (thousands) Balance, June 30, 2021 150 Less depreciation (60 ) Balance, June 30, 2022 90 Additions 679 Less depreciation (60 ) Balance, June 30, 2023 709 At June 30, 2023, the total capitalized cost of property and equipment was $859 (June 30, 2022—$180), of which $679 is not in use. The Company has recognized $60 in depreciation expense, respectively, for each of the years ended June 30, 2023, and 2022, on equipment in use. | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property and Equipment, Net | Note 5—Property and equipment, net Property and equipment, net consists of the following as of March 31, 2024, and December 31, 2023: Unaudited December 31, Furniture and fixtures $ 170,607 $ 170,607 Leasehold improvements 544,629 544,628 Machinery and office equipment 1,365,277 1,365,277 Software 72,394 72,394 2,152,907 2,152,906 Less accumulated depreciation and amortization (2,005,044 ) (1,970,736 ) $ 147,863 $ 182,170 Depreciation and amortization of property and equipment totaled approximately $34,000 and $61,000 for the three months ending March 31, 2024, and 2023, respectively. | Note 5—Property and equipment, net Property and equipment, net consists of the following as of December 31, 2023, and 2022: 2023 2022 Furniture and fixtures $ 170,607 $ 170,607 Leasehold improvements 544,628 544,628 Machinery and office equipment 1,365,277 1,330,053 Software 72,394 28,394 2,152,906 2,073,682 Less accumulated depreciation and amortization (1,970,736 ) (1,793,359 ) $ 182,170 $ 280,323 Depreciation and amortization of property and equipment totaled approximately $177,000 and $373,000 for the years ended December 31, 2023, and 2022, respectively. |
Accounts Payable And Accrued Ex
Accounts Payable And Accrued Expenses | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||
Payables And Accruals [Line Items] | ||
Accounts Payable And Accrued Expenses | Note 6—Accounts payable and accrued expenses Accounts payable and accrued expenses consist of the following as of March 31, 2024, and December 31, 2023: Unaudited December 31, Trade accounts payable $ 1,635,016 $ 1,866,762 Accrued compensation 1,707,988 1,415,397 Accrued legal fees 466,801 — Accrued placement agent fees 368,960 56,400 Other accrued expenses 164,000 100,000 $ 4,342,765 $ 3,438,559 | Note 6—Accounts payable and accrued expenses Accounts payable and accrued expenses consist of the following as of December 31, 2023, and 2022: 2023 2022 Trade accounts payable $ 1,866,762 $ 1,915,766 Accrued compensation 1,415,397 675,000 Other accrued expenses 156,400 163,677 $ 3,438,559 $ 2,754,443 |
Convertible Promissory Notes
Convertible Promissory Notes | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||
Short-Term Debt [Line Items] | ||
Convertible promissory notes | Note 7—Convertible promissory notes On various dates beginning on December 11, 2023 through March 28, 2024, the Company entered into Convertible Promissory Note Agreements (the “Notes”) with various entities at various amounts for an aggregate of $7,588,000. The Notes bear interest at a rate of twenty percent (20%) per annum and mature on the second anniversary of the issuance date. In addition, the Company included an additional clause for investors which grants common stock purchase warrants (the “Warrants”) to Holders in the event they subscribe to purchase Notes in the aggregate principal amount of more than $4.0 million or more equal to (i) 50% of the aggregate principal amount of the Note purchased divided by $0.68. Refer to Note 11 for additional information on the Warrants. There were no warrants issued as of March 31, 2024. The Notes are convertible into New Securities (depending on the applicable conversion event) upon the following: (i) automatic conversion upon an initial public offering (“Mandatory Conversion 1”), (ii) automatic conversion upon the occurrence of a de-SPAC transaction (“Mandatory Conversion 2”), (iii) automatic conversion upon the occurrence of a reverse public merger transaction (”Specified Merger Transaction”) at a conversion price equal to (i) the outstanding principal and interest of the Notes prior to conversion divided by (ii)$0.68 (“Mandatory Conversion 3”), or (iv) optional new securities conversion upon a qualified equity financing, transaction, series of transactions, or merger other than an IPO or de-SPAC transaction, as defined per the terms of the Note Agreement. The Holder has the option, at the occurrence of qualified equity financing, transaction, series of transactions, or merger other than an IPO, de-SPAC transaction, or reverse public merger transaction, to convert the outstanding Notes into shares of common stock (“Optional Conversion”), or to receive a prepayment from the Company for the outstanding principal and interest remaining on the Notes (“Optional Redemption”). Under an IPO or de-SPAC transaction, the Notes convert at the sum of (a) the outstanding principal balance and unpaid accrued interest at the time of the transaction, plus (b) a Make-Whole Amount premium, defined in the Note Agreement as additional interest to be incurred until the next period end date as defined in the Note Agreement, divided by the common stock price per share at the time of the public offering (for IPO) or at closing (for de-SPAC transaction). Under a reverse public merger transaction, the Notes convert at the sum of (a) the outstanding principal balance and unpaid accrued interest at the time of the transaction, plus (b) a Make-Whole Amount premium, defined in the Note Agreement as additional interest to be incurred until the next period end date as defined in the Note Agreement, divided by a conversion price equal to $0.68. The Company evaluated the terms of the Notes for embedded conversion features in accordance with ASC 815-15-25 and determined that the Mandatory Conversion 1 feature, Mandatory Conversion 2 feature, Mandatory Conversion 3 feature, and Optional Conversion feature meet the definition of an embedded derivative liability that is required to be bifurcated from the host instrument and measured at fair value, with subsequent changes in fair value recognized in the condensed consolidated statement of operations. Management used a scenario-based analysis to estimate the fair value of the bifurcated embedded derivative liability at issuance of the Notes. The Company recognized debt discount of $365,092 upon issuance of the Notes. There was a gain of $12,092 for the three months ended March 31, 2024, due to the estimated change in fair value of the bifurcated embedded derivative liability. The related discount is amortized to interest expense over the term of the debt using the effective yield method. Amortization expense related to the debt discount totaled $17,383 for the three months ended March 31, 2024. Interest expense, inclusive of the debt discount amortization, on the Notes totaled $255,152 for the three months ended March 31, 2024. | Note 7—Convertible promissory notes On various dates beginning on December 11, 2023 through December 29, 2023, the Company entered into Convertible Promissory Note Agreements (the “Notes”) with various entities at various amounts for an aggregate of $2,685,000. The Notes bear interest at a rate of twenty percent (20%) per annum and mature on the second anniversary of the issuance date. The Notes are convertible into New Securities (depending on the applicable conversion event) upon the following: (i) automatic conversion upon an initial public offering, (ii) automatic conversion upon the occurrence of a de-SPAC de-SPAC The Company has the right, at the occurrence of qualified equity financing, transaction, series of transactions, or merger other than an IPO or de-SPAC de-SPAC de-SPAC The Company evaluated the embedded make-whole features in accordance with ASC 815-15-25. The proceeds received upon issuing the Notes were first allocated to the fair value of the bifurcated embedded derivative with the remainder to the allocated to the debt host instrument. The Company recognized debt discount of $137,000 upon issuance of the Notes. The related discount is amortized to interest expense over the term of the debt using the effective yield method. The embedded make-whole features are separately measured at fair value, using level |
Other Current Assets
Other Current Assets | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||
Other Current Assets [Line Items] | ||
Other current assets | Note 4—Other current assets Other current assets consist of the following as of March 31, 2024, and December 31, 2023: Unaudited December 31, Employee Retention Tax Credit $ 334,443 $ 334,443 Deferred offering costs 284,867 — Other current assets 216,104 159,326 $ 835,414 $ 493,769 | Note 4—Other current assets Other current assets include an outstanding $100,000 note receivable from the CEO. This note originated on July 12, 2022 and matures on March 3, 2023. The note includes 3% interest payable at maturity. As of December 31, 2022, the note plus accrued interest totaled $101,424. In addition, the Company entered into an exclusivity agreement with Tuhura Biopharma in December 2022. The Company paid a negotiation fee of $200,000 to be credited against the final sale purchase price. In return the Company received an exclusivity period and certain representations, warranties, and indemnification by Tuhura. The Tuhura transaction was completed on January 26, 2023. Tuhura Biopharma is partially owned by the Company CEO, Jim Bianco. See Note 12. |
Related Party Transactions
Related Party Transactions | 9 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Jun. 30, 2023 | |
Related Party Transactions [Abstract] | ||
Related party transactions | 6 Related party transactions Valent Technologies, LLC Agreements On November 20, 2023, Dr. Brown was terminated from his position as the Company’s Chief Scientific Officer as a result of cost-cutting measures adopted by the Company; he remains a consultant to the Company. Dr. Brown is a principal of Valent Technologies, LLC (“Valent”) and as a result Valent is a related party to the Company. On September 12, 2010, the Company entered into a Patent Assignment Agreement (the “Valent Assignment Agreement”) with Valent pursuant to which Valent transferred to the Company all its right, title and interest in, and to, the patents for VAL-083 owned by Valent. The Company now owns all rights and title to VAL-083 and is responsible for further development and commercialization. In accordance with the terms of the Valent Assignment Agreement, Valent is entitled to receive a future royalty on all revenues derived from the development and commercialization of VAL-083. In the event that the Company terminates the agreement, the Company may be entitled to receive royalties from Valent’s subsequent development of VAL-083 depending on the development milestones the Company has achieved prior to the termination of the Valent Assignment Agreement. On September 30, 2014, the Company entered into an exchange agreement (the “Valent Exchange Agreement”) with Valent and Del Mar (BC). Pursuant to the Valent Exchange Agreement, Valent exchanged its loan payable in the outstanding amount of $ 279 (including aggregate accrued interest to September 30, 2014, of $ 29 ) 279 shares of the Company’s Series A Preferred Stock. The Series A Preferred Stock has a stated value of $ 1.00 per share (the “Series A Stated Value”) and is not convertible into common stock. The holder of the Series A Preferred Stock is entitled to dividends at the rate of 3% of the Series A Stated Value per year, payable quarterly in arrears. For the three and nine March 2024 2 ( 2023 2 ) 6 (202 3 6 ) On February 13, 2024, the Company sent an Opt-Out Notice to Valent under the Valent Assignment Agreement whereby the Company assigned all rights, title and interest in and to the patents for VAL-083 to Valent. As a result, the Company granted Valent a non-exclusive, fully-paid, royalty-free, perpetual, worldwide and non-transferable license, subject to limited exceptions. The Company is entitled to receive royalties from Valent’s subsequent commercialization of VAL-083 equal to 5% of Valent Net Sales (as defined in the Valent Assignment Agreement). Related party payables As of March 2024 98 (June 30, 2023 - $ 298 ) | 5. Related party transactions Valent Technologies, LLC Agreements One of the Company’s officers is a principal of Valent Technologies, LLC (“Valent”) and as result Valent is a related party to the Company. On September 12, 2010, the Company entered into a Patent Assignment Agreement (the “Valent Assignment Agreement”) with Valent pursuant to which Valent transferred to the Company all its right, title and interest in and to the patents for VAL-083 VAL-083 VAL-083. VAL-083 On September 30, 2014, the Company entered into an exchange agreement (the “Valent Exchange Agreement”) with Valent and Del Mar (BC). Pursuant to the Valent Exchange Agreement, Valent exchanged its loan payable in the outstanding amount of $279 (including aggregate accrued interest to September 30, 2014, of $29), issued to Valent by Del Mar (BC), for 279 shares of the Company’s Series A Preferred Stock. The Series A Preferred Stock has a stated value of $1.00 per share (the “Series A Stated Value”) and is not convertible into common stock (note 7). The holder of the Series A Preferred Stock is entitled to dividends at the rate of 3% of the Series A Stated Value per year, payable quarterly in arrears. For the years ended June 30, 2023, and 2022, respectively, the Company recorded $8 related to the dividend paid to Valent. The dividends have been recorded as a direct increase in accumulated deficit. Related party payables At June 30, 2023 there is an aggregate amount of $298 (2022—$721) payable to the Company’s officers and directors for fees, expenses, and accrued bonuses and other liabilities. |
Milestone payment liability
Milestone payment liability | 12 Months Ended |
Jun. 30, 2023 | |
Business Combinations [Abstract] | |
Milestone payment liability | 6. Milestone payment liability The milestone payment liability relates to an asset purchase agreement with St. Cloud Investments, LLC (“St. Cloud”) that the Company has relating to the acquisition of REM-001. • Upon the earlier of (i) a subsequent equity financing to take place after the Company conducts a Phase 2B clinical study in which fifty patients complete the study and their clinical data can be evaluated or (ii) the commencement of a clinical study intended to be used as a definitive study for market approval in any country, the Company is obligated to pay an aggregate amount of $300 in cash or an equivalent amount of common stock, with $240 to St. Cloud and $60 to an employee of the Company; and • Upon receipt of regulatory approval of REM-001 With respect to the $ 300 700 The milestone payment liability has been estimated using a scenario-based method (or “SBM”). An SBM is an income-based approach under which possible outcomes are identified, the contingent consideration payoff of each outcome is probability weighted, and then a suitable discount rate is used to arrive at the expected present value of the contingent consideration at the valuation date. The probability used in the valuation was based on published research for the probability of success of oncology companies at a similar stage of development as the Company. The discount rate was based on published rates for corporate bonds and the term was based on an estimate of the planned timing of completion of the respective development achievement that would result in payment of the respective milestones. $ (in thousands) Balance – June 30, 2021 182 Change in fair value estimate (19 ) Balance – June 30, 2022 163 Change in fair value estimate 3 Balance – June 30, 2023 166 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | |
Class of Stock [Line Items] | ||||
Stockholders' Equity | 7 Stockholders’ equity Preferred stock Series C Preferred Stock Series C Preferred Stock Number $ Balance – June 30, 2023 14,208 10,366 Conversion of Series C Preferred stock to common stock (540 ) (393 ) Balance – March 31, 2024 13,668 9,973 In August 2020, the Company issued 25,028 shares of Series C Convertible Preferred Stock (the “Series C Preferred Stock”) in three separate closings of a private placement (Series C-1, C-2, C-3). 1,000 per share and is convertible into shares of common stock based on the respective conversion prices which were determined at the closing of each round of the private placement. The conversion prices for the Series C-1 C-2 the Series C-3 Preferred Stock are $ , $ , and $ , respectively. Subject to ownership limitations, the owners of the Series C-1 Preferred Stock, the Series C-2 Preferred Stock, and the Series C-3 Preferred Stock are entitled to receive dividends, payable in shares of common stock at a rate of %, %, % and %, respectively, of the number of shares of common stock issuable upon conversion of the Series C Preferred Stock, on the 12th, 24th, 36th and 48th month, anniversary of the initial closing of the private placement. The Company paid the 12th, 24th, and 36th month anniversary dividends of %, %, and % common stock dividends on August 19, 2021, 2022, and 2023, respectively. The Series C Preferred Stock dividends do not require declaration by the board of directors and are accrued annually as of the date the dividend is earned in an amount equal to the fair value of the Company’s common stock on the dates the respective dividends are paid. The fair value of the Series C Preferred Stock dividend paid on August 19, 2023, was determined by multiplying the dividends paid of shares of common stock by the Company’s closing share price on August 18, 2023, of $ per share for a total fair value of $ . Any outstanding shares of Series C Preferred Stock will automatically convert to shares of common stock on August 19, 2024. In addition, as part of the Series C Preferred financing, the Company issued warrants to the placement agent (“Series C Agent Warrants”). The Series C Preferred Stock shall with respect to distributions of assets and rights upon the occurrence of a liquidation, rank (i) senior to the Company’s common stock and (ii) senior to any other class or series of capital stock of the Company hereafter created which does not expressly rank pari passu with, or senior to, the Series C Preferred Stock. The Series C Preferred Stock is pari passu in liquidation to the Company’s Series A Preferred Stock. The liquidation value of the Series C Preferred Stock at March 2024 9,973 (June 30, 2023 - $ 10,366 ). The Company’s Series C Preferred Stock outstanding, conversion shares, and aggregate dividends as of March 2024 Series Number Conversion Number of Dividend Series 1 10,925 58.00 188 151 Series 2 898 60.70 15 10 Series 3 1,845 57.50 32 24 13,668 235 185 Series C Dividends Dividend Shares 10% - August 19, 2021 (actual) 34 15% - August 19, 2022 (actual) 43 20% - August 19, 2023 (actual) 49 25% - August 19, 2024 (estimated) 59 185 Series A Preferred Stock Effective September 30, 2014, the Company filed a Certificate of Designation of Series A Preferred Stock (the “Series A Certificate of Designation”) with the Secretary of State of Nevada. Pursuant to the Series A Certificate of Designation, the Company designated shares of preferred stock as Series A Preferred Stock. The shares of Series A Preferred Stock have a stated value of $ per share (the “Series A Stated Value”) and are not convertible into common stock. The holder of the Series A Preferred Stock is entitled to dividends at the rate of 3 % of the Series A Stated Value per year, payable quarterly in arrears. Upon any liquidation of the Company, the holder of the Series A Preferred Stock will be entitled to be paid, out of any assets of the Company available for distribution to stockholders, the Series A Stated Value of the shares of Series A Preferred Stock held by such holder, plus any accrued but unpaid dividends thereon, prior to any payments being made with respect to the common stock. The Series A Preferred Stock is held by Valent (note 6). The Series A Preferred Stock shall with respect to distributions of assets and rights upon the occurrence of a liquidation, rank (i) senior to the Company’s common stock, and (ii) senior to any other class or series of capital stock of the Company hereafter created which does not expressly rank pari passu with, or senior to, the Series A Preferred Stock. The Series A Preferred Stock is pari passu in liquidation to the Company’s Series C Preferred Stock. The liquidation value of the Series A Preferred stock at March 2024 279 (June 30, 2023 - $ 279 ). There was no change to the Series A Preferred stock for the nine March 2024 2023 Common stock Common stock issuances during the nine months ended March 31, 2024 On September 19, 2023, the Company entered into a Sales Agreement, (the “Sales Agreement”) with A.G.P./Alliance Global Partners (the “Agent”) pursuant to which the Company may offer and sell, from time to time, through the Agent, as sales agent and/or principal, shares of common stock having an aggregate offering price of up to $ 2,850 (the “ATM Facility”), subsequently increased to $ 10,900 on December 18, 2023. From October 31, 2023, until March 2024 10,471 in net proceeds, after deducting share issuance costs of $ 435 , from the sale of 53,151 shares of its common stock at a weighted average price of $ 0.21 per share under the ATM Facility. On February 22, 2024 , the Company determined that it had concluded utilization of the ATM Facility . Sales of the shares of common stock made under the ATM Facility may be made in negotiated transactions, or by any method permitted by law that is deemed to be an “at the market offering” as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on The Nasdaq Capital Market or sales made to or through a market maker other than on an exchange. Pursuant to the Sales Agreement, the Company has the right, in its sole discretion, to present the Agent with a placement notice directing the Agent to purchase a number of shares of common stock under the ATM Facility, subject to the terms and conditions of the Sales Agreement. The purchase price per share under the ATM Facility will be based on market prices of the common stock on the applicable purchase date for such purchases. The Agent is entitled to a commission rate of 3.0% of the gross sales price per share sold under the Sales Agreement. During the nine March 2024 400 shares of common stock at a weighted average price of $ 0.23 per share for total net proceeds of approximately $ 105 under the Purchase Agreement with Lincoln Park (as defined below) During the nine March 2024 4 shares of common stock on vesting of restricted stock units during the period. On February 22, 2024, the Company determined that it had concluded utilization of the equity facility pursuant to the terms of the Purchase Agreement with Lincoln Park. Common stock issuances during the nine months ended March 31, 2023 On August 2, 2022, the Company entered into a stock purchase agreement, dated as of August 2, 2022, (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park”), pursuant to which Lincoln Park committed to purchase up to a maximum of $ 20,000 of shares of the Company’s common stock (the “Purchase Shares”). Concurrently with entering into the Purchase Agreement, the Company also entered into a registration rights agreement with Lincoln Park, pursuant to which it agreed to take certain actions relating to the registration of the offer and sale of the Purchase Shares available for issuance under the Purchase Agreement. Upon execution of the Purchase Agreement, the Company issued 33 shares of common stock to Lincoln Park as a commitment fee in connection with entering into the Purchase Agreement. Pursuant to the Purchase Agreement, the Company has the right, in its sole discretion, to present Lincoln Park with a purchase notice directing Lincoln Park to purchase up to 10 Purchase Shares provided that the closing sale price of the common stock on the purchase date is not below a threshold price set forth in the Purchase Agreement (a “Regular Purchase”). The Company and Lincoln Park may mutually agree to increase the Regular Purchase amount with respect to any Regular Purchase under the Purchase Agreement, provided that Lincoln Park’s maximum committed purchase obligation under any single Regular Purchase shall not exceed $ 2,000 . The purchase price per share for each Regular Purchase is based on prevailing market prices of the common stock immediately preceding the time of sale as computed in accordance with the terms set forth in the Purchase Agreement. There are no upper limits on the price per share that Lincoln Park must pay for the Purchase Shares under the Purchase Agreement. If the Company directs Lincoln Park to purchase the maximum number of shares of common stock that the Company may sell in a Regular Purchase, then in addition to such Regular Purchase, and subject to certain conditions and limitations in the Purchase Agreement, the Company may direct Lincoln Park to purchase additional shares of common stock in an “accelerated purchase” (each, an “Accelerated Purchase”) and an “additional accelerated purchase” (each, an “Additional Accelerated Purchase”) (including multiple Additional Accelerated Purchases on the same trading day) as provided in the Purchase Agreement. The purchase price per share for each Accelerated Purchase and Additional Accelerated Purchase will be based on market prices of the common stock on the applicable purchase date for such Accelerated Purchases and such Additional Accelerated Purchases. During the nine March 2024 20 % or more of its outstanding shares as of the date the Company entered into the Purchase Agreement with Lincoln Park. The Purchase Agreement may be terminated by the Company at any time, at its sole discretion, without any cost or penalty, by giving one business day notice to Lincoln Park to terminate the Purchase Agreement. During the nine March 2023 229 shares of common stock for total net proceeds of approximately $ 1,860 under this Purchase Agreement. 2017 Omnibus Incentive Plan As subsequently approved by the Company’s stockholders at an annual meeting of stockholders, on April 11, 2018, the Company’s board of directors approved the adoption of the Company’s 2017 Omnibus Equity Incentive Plan (the “2017 Plan”), as amended. The board of directors also approved a form of Performance Stock Unit Award Agreement to be used in connection with grants of performance stock units (“PSUs”) as well as a Restricted Stock Unit (“RSU”) award under the 2017 Plan. As approved by the Company’s stockholders on June 21, 2022, the number of common shares available under the 2017 Plan as of March 2024 440 shares, less the number of shares of common stock issued under the Del Mar (BC) 2013 Amended and Restated Stock Option Plan (the “Legacy Plan”), or that are subject to grants of stock options made, or that may be made, under the Legacy Plan, or that have been previously exercised. The following table sets forth the aggregate information on all equity compensation plans as of March 31, 2024: Plan (in thousands, except per share amounts) Number of shares of issued upon exercise of outstanding stock options and rights Weighted- average exercise price of stock Number of shares of common stock remaining available for future issuance under equity securities reflected in column (a))(2) Equity compensation plans approved by security holders - 2017 Plan (1) 222 21.40 144 Equity compensation plans not approved by security holders - Del Mar (BC) 2013 Amended and Restated Stock Option Plan — 2,060.08 — Totals 222 32.92 144 (1) The Del Mar (BC) 2013 Amended and Restated Stock Option Plan refers to the Company’s previous equity compensation plan. (2) The balance of 144 shares of common stock available for issuance under the 2017 Plan as of March 2024 The maximum number of shares of Company common stock with respect to which any one participant may be granted awards during any calendar year is 8 % of the Company’s fully diluted shares of common stock on the date of grant (excluding the number of shares of common stock issued under the 2017 Plan and/or the Legacy Plan or subject to outstanding awards granted under the 2017 Plan and/or the Legacy Plan). No award will be granted under the 2017 Plan on, or after, July 7, 2027. Stock options During the nine months ended March 31, 2024, a total of 89 stock options to purchase shares of common stock at an exercise price of $4.655 per share were granted to directors and officers of the Company. The granted to non-employee directors vest pro rata monthly over 12 months commencing on March 31, 2024 . The remaining options granted to executive officers, employees and consultants vest as to % on the first anniversary of grant with the remaining portion vesting pro rata monthly thereafter over 36 months. All of the options to purchase shares of common stock granted have a 10-year The following table sets forth changes in stock options outstanding under all plans: Number of stock options Weighted Balance – June 30, 2023 198 51.71 Granted 89 4.66 Expired (34 ) 107.69 Forfeited (31 ) 8.26 Balance – March 31, 2024 222 30.70 The following table summarizes stock options outstanding and exercisable under all plans at March , 202 4 : Exercise price $ Number Weighted Number 4.66 79 9.42 15 6.04 9 8.89 2 8.79 34 8.34 14 12.75 to 16.25 6 8.53 6 30.50 to 48.00 73 7.56 44 62.00 to 68.50 13 7.06 13 85.00 7 6.46 7 304.95 to 2,660.00 1 2.11 1 222 102 Stock options granted during the nine months ended March 31, 2024, have been valued using a Black-Scholes pricing model with the following assumptions: March 31, 2024 Dividend rate — % Estimated volatility 91.40 % Risk-free interest rate 4.24 % Expected term – years 6.08 The estimated volatility of the Company’s common stock at the date of issuance of the stock options is based on the historical volatility of the Company. The risk-free interest rate is based on rates published by the government for bonds with a maturity similar to the expected remaining term of the stock options at the valuation date. The expected term of the stock options has been estimated using the plain vanilla method. The Company has recognized the following amounts as stock option expense for the periods noted (in thousands): Three months ended Nine months ended 2024 2023 2024 2023 Research and development 50 94 143 368 General and administrative 106 196 338 876 156 290 481 1,244 All of the stock option expense for the periods ended March , 2024, and 3 , has been recognized as additional paid in capital. The aggregate intrinsic value of stock options outstanding as well as stock options exercisable was nil as of March , 2024, and 3 , respectively. As of March , 202 4 , there was $ 447 in unrecognized compensation expense that will be recognized over the next 2.2 years. The following table sets forth changes in unvested stock options under all plans: Number of Weighted Unvested at June 30, 2023 118 24.12 Granted 89 4.66 Vested (56 ) 19.31 Forfeited (31 ) 8.26 Unvested at March 31, 2024 120 16.07 The aggregate intrinsic value of unvested stock options at March 2024 nil ( 2023 nil ). The unvested stock options have a remaining weighted average contractual term of 8.76 years ( 2023 9.03 ). Restricted stock units During the nine March 2024 136 (202 3 ) in compensation expense related to RSUs. Number of Balance – June 30, 2023 78 Issuance of restricted stock units — Vesting of restricted stock units (4 ) Forfeiture of restricted stock units (8 ) Balance – March 31, 2024 66 Common stock warrants The following table sets forth changes in outstanding common stock warrants: Number of Weighted Balance – June 30, 2023 713 43.55 Expiry of warrants issued for services (20 ) 57.14 Balance – March 31, 2024 693 43.12 The following table summarizes the Company’s outstanding common stock warrants as of March 31, 2024: Description of warrants Number Exercise Expiry date 2022 April Investor warrants 325 20.50 April 14, 2027 2022 Investor warrants 240 62.50 March 28, 2025 2020 Investor warrants 65 50.00 August 16, 2024 2019 Investor warrants 15 155.00 June 5, 2024 NBTS Warrants 3 54.50 June 19, 2025 2022 April Agent warrants 32 33.12 October 14, 2026 2022 Agent warrants 12 78.12 March 28, 2025 2019 Agent warrants 1 193.75 June 3, 2024 693 Series C Preferred Stock warrants In connection with the Series C Preferred Stock private placement, the Company issued 2,504 Series C Agent Warrants. The Series C Agent Warrants have an exercise price of $ 1,000 per share, provide for a cashless exercise feature, and are exercisable for a period of four years from August 19, 2020. The Series C Preferred Stock issuable upon exercise of the Series C Agent Warrants is convertible into shares of common stock in the same manner as each respective underlying series of outstanding Series C Preferred Stock and will be entitled to the same dividend rights as each respective series. The following table sets forth changes in outstanding Series C Agent Warrants: Balance Number of Number of Balance, Conversion Preferred Series C-1 1,929 — — 1,929 58.00 Preferred Series C-2 219 — — 219 60.70 Preferred Series C-3 296 — — 296 57.50 2,444 — — 2,444 The following table summarizes the Company’s outstanding Series C Agent Warrants as of March 31, 2024: Series C Agent Warrants Number Conversion Number of (in thousands) Cumulative (in thousands) Series 1 1,929 58.00 33 23 Series 2 219 60.70 4 3 Series 3 296 57.50 5 4 2,444 42 30 | 7. Stockholders’ equity Preferred stock Series C Preferred Stock Series C Preferred Stock Number $ Balance – June 30, 2021 20,092 14,652 Conversion of Series C Preferred stock to common stock (3,254 ) (2,377 ) Balance – June 30, 2022 16,838 12,275 Conversion of Series C Preferred stock to common stock (2,630 ) (1,909 ) Balance – June 30, 2023 14,208 10,366 In August 2020, the Company issued 25,028 shares of Series C Convertible Preferred Stock (the “Series C Preferred Stock”) in three separate closings of a private placement (Series C-1, C-2, C-3). C-1 C-2 C-3 C-1 C-2 C-3 th th th th th th th The Series C Preferred Stock dividends do not require declaration by the board of directors and are accrued annually as of the date the dividend is earned in an amount equal to the fair value of the Company’s common stock on the dates the respective dividends are paid. The fair value of the Series C Preferred Stock dividend paid on August 19, 2022, was determined by multiplying the dividends paid of 43 shares of common stock by the Company’s closing share price on August 19, 2022, of $8.34 per share for a total fair value of $362. Any outstanding shares of Series C Preferred Stock will automatically convert to shares of common stock on August 19, 2024. In addition, as part of the Series C Preferred financing, the Company issued warrants to the placement agent (“Series C Agent Warrants”). The Series C Preferred Stock shall with respect to distributions of assets and rights upon the occurrence of a liquidation, rank (i) senior to the Company’s common stock and (ii) senior to any other class or series of capital stock of the Company hereafter created which does not expressly rank pari passu with, or senior to, the Series C Preferred Stock. The Series C Preferred Stock is pari passu in liquidation to the Company’s Series A Preferred Stock. The liquidation value of the Series C Preferred Stock at June 30, 2023, is the stated value of $10,366 (June 30, 2022 - $12,275). The Company’s Series C Preferred Stock outstanding, conversion shares, and future dividends as of June 30, 2023, are as follows: Series Number Conversion Price Number of Dividend Series 1 11,415 58.00 197 153 Series 2 898 60.70 15 10 Series 3 1,895 57.50 33 25 14,208 245 188 Series C Dividends Dividend Shares 10% - August 19, 2021 (actual) 34 15% - August 19, 2022 (actual) 43 20% - August 19, 2023 (estimated) 49 25% - August 19, 2024 (estimated) 62 188 Series A Preferred Stock Effective September 30, 2014, the Company filed a Certificate of Designation of Series A Preferred Stock (the “Series A Certificate of Designation”) with the Secretary of State of Nevada. Pursuant to the Series A Certificate of Designation, the Company designated 279 shares of preferred stock as Series A Preferred Stock. The shares of Series A Preferred Stock have a stated value of $1.00 per share (the “Series A Stated Value”) and are not convertible into common stock. The holder of the Series A Preferred Stock is entitled to dividends at the rate of 3% of the Series A Stated Value per year, payable quarterly in arrears. Upon any liquidation of the Company, the holder of the Series A Preferred Stock will be entitled to be paid, out of any assets of the Company available for distribution to stockholders, the Series A Stated Value of the shares of Series A Preferred Stock held by such holder, plus any accrued but unpaid dividends thereon, prior to any payments being made with respect to the common stock. The Series A Preferred Stock is held by Valent (note 5). The Series A Preferred Stock shall with respect to distributions of assets and rights upon the occurrence of a liquidation, rank (i) senior to the Company’s common stock, and (ii) senior to any other class or series of capital stock of the Company hereafter created which does not expressly rank pari passu with, or senior to, the Series A Preferred Stock. The Series A Preferred Stock is pari passu in liquidation to the Company’s Series C Preferred Stock. The liquidation value of the Series A Preferred stock at June 30, 2023, is its stated value of $279 (June 30, 2022 - $279). There was no change to the Series A Preferred stock for the years ended June 30, 2023, or 2022. Common stock Amended articles of incorporation On June 30, 2023, the Company amended its articles of incorporation to increase the number of authorized shares of common stock from 5,500 to 75,000 shares. Stock issuances Year ended June 30, 2023 On August 2, 2022, the Company entered into a stock purchase agreement, dated as of August 2, 2022, (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park”), pursuant to which Lincoln Park committed to purchase up to a maximum of $20,000 of shares of the Company’s common stock (the “Purchase Shares”). Concurrently with entering into the Purchase Agreement, the Company also entered into a registration rights agreement with Lincoln Park, pursuant to which it agreed to take certain actions relating to the registration of the offer and sale of the Purchase Shares available for issuance under the Purchase Agreement. Upon execution of the Purchase Agreement, the Company issued 33 shares of common stock to Lincoln Park as a commitment fee in connection with entering into the Purchase Agreement. Pursuant to the Purchase Agreement, the Company has the right, in its sole discretion, to present Lincoln Park with a purchase notice directing Lincoln Park to purchase up to 10 Purchase Shares provided that the closing sale price of the common stock on the purchase date is not below a threshold price set forth in the Purchase Agreement (a “Regular Purchase”). The Company and Lincoln Park may mutually agree to increase the Regular Purchase amount with respect to any Regular Purchase under the Purchase Agreement, provided that Lincoln Park’s maximum committed purchase obligation under any single Regular Purchase shall not exceed $2,000. The purchase price per share for each Regular Purchase is based on prevailing market prices of the common stock immediately preceding the time of sale as computed in accordance with the terms set forth in the Purchase Agreement. There are no upper limits on the price per share that Lincoln Park must pay for the Purchase Shares under the Purchase Agreement. If the Company directs Lincoln Park to purchase the maximum number of shares of common stock that the Company may sell in a Regular Purchase, then in addition to such Regular Purchase, and subject to certain conditions and limitations in the Purchase Agreement, the Company may direct Lincoln Park to purchase additional shares of common stock in an “accelerated purchase” (each, an “Accelerated Purchase”) and an “additional accelerated purchase” (each, an “Additional Accelerated Purchase”) (including multiple Additional Accelerated Purchases on the same trading day) as provided in the Purchase Agreement. The purchase price per share for each Accelerated Purchase and Additional Accelerated Purchase will be based on market prices of the common stock on the applicable purchase date for such Accelerated Purchases and such Additional Accelerated Purchases. The aggregate number of shares that the Company can issue or sell to Lincoln Park under the Purchase Agreement may in no case exceed 262 shares of the common stock (which is equal to approximately 19.99% of the shares of the common stock outstanding immediately prior to the execution of the Purchase Agreement) (the “Exchange Cap”), unless (i) stockholder approval is obtained to issue Purchase Shares above the Exchange Cap, in which case the Exchange Cap will no longer apply, or (ii) the average price of all applicable sales of our common stock to Lincoln Park under the Purchase Agreement equals or exceeds $10.12 per share (which represents the lower of (A) the official closing price of the Company’s common stock on Nasdaq on the trading day immediately preceding the date of the Purchase Agreement and (B) the average official closing price of the Company’s common stock on Nasdaq for the five consecutive trading days ending on the trading day on the date of the Purchase Agreement, adjusted such that the transactions contemplated by the Purchase Agreement are exempt from the Exchange Cap limitation under applicable Nasdaq rules). The Purchase Agreement may be terminated by the Company at any time, at its sole discretion, without any cost or penalty, by giving one business day notice to Lincoln Park to terminate the Purchase Agreement. During the year ended June 30, 2023, the Company sold 229 shares of common stock for total net proceeds of approximately $1,903 under the Purchase Agreement. As of June 30, 2023, the sales made under the Purchase Agreement are the maximum amounts available due to ownership limitations under Nasdaq rules. Shares issued for services During the year ended June 30, 2023, the Company issued 16 shares of common stock for services for a total value of $110. Year ended June 30, 2022 Registered direct financing - September 28, 2021 On September 28, 2021, the Company closed on the sale of (i) 144 shares of its common stock, par value $0.001 per share, (ii) pre-funded The net proceeds from the September Offering were $13,634 after deducting commissions and other offering expenses. The 2022 Investor Warrants are exercisable at $62.50 per share until their expiry on March 28, 2025, and the PFW are exercisable at $0.05 per share at any time after September 28, 2021 non-cash As of June 30, 2022, all of the 96 PFW have been exercised at $0.05 per PFW for proceeds of $4.8. Registered direct financing - April 14, 2022 On April 14, 2022, the Company closed on the sale of 324 shares of its common stock, par value $0.001 per share, and common warrants to purchase an aggregate of 324 shares of common stock (“2022 April Investor Warrants”) price of $26.50 per share of common stock and accompanying 2022 April Investor Warrant. The 2022 April Investor Warrants have been valued at $3,898 and have been treated as equity. They have been valued using a Black-Scholes valuation with a risk-free rate of 0.54%, a contractual term of 5 years, a volatility of 109.4%, and a dividend rate of 0%. The estimated volatility of the Company’s common stock is based on the historical volatility of the Company. The risk-free interest rate is based on rates published by the government for bonds with a maturity similar to the contractual life of the instrument at the valuation date. The term is based on the contractual term of the warrant. The net proceeds from the April Offering were approximately $7,900 after deducting commissions and other offering expenses. The 2022 April Investor Warrants are exercisable at $20.50 per share until their expiry on April 14, 2027. The Company also issued 32 agent warrants that are exercisable at $33.13 per share commencing October 14, 2022, until their expiry on October 14, 2026 (the “2022 April Agent Warrants”). The 2022 April Agent Warrants have been valued at $350 and have been treated as non-cash 2017 Omnibus Incentive Plan As subsequently approved by the Company’s stockholders at an annual meeting of stockholders, on April 11, 2018, the Company’s board of directors approved the adoption of the Company’s 2017 Omnibus Equity Incentive Plan (the “2017 Plan”), as amended. The board of directors also approved a form of Performance Stock Unit Award Agreement to be used in connection with grants of performance stock units (“PSUs”) as well as a Restricted Stock Unit (“RSU”) award under the 2017 Plan. As approved by the Company’s stockholders on June 21, 2022, the number of common shares available under the 2017 Plan as of June 30, 2023, is 440 shares, less the number of shares of common stock issued under the Del Mar (BC) 2013 Amended and Restated Stock Option Plan (the “Legacy Plan”), or that are subject to grants of stock options made, or that may be made, under the Legacy Plan, or that have been previously exercised. The following table sets forth the aggregate information on all equity compensation plans as of June 30, 2023: Plan Category (in thousands, except per share amounts) Number of Weighted- Number of Equity compensation plans approved by security holders - 2017 Plan (1) 275 $ 34.72 160 Equity compensation plans not approved by security holders - Del Mar (BC) 2013 Amended and Restated Stock Option Plan 1 $ 2,160.10 — Totals 276 $ 51.71 160 (1) The Del Mar (BC) 2013 Amended and Restated Stock Option Plan refers to the Company’s previous equity compensation plan. (2) The balance of 161 shares of common stock available for issuance under the 2017 Plan as of June 30, 2023, is net of stock options previously exercised. The maximum number of shares of Company common stock with respect to which any one participant may be granted awards during any calendar year is 8% of the Company’s fully diluted shares of common stock on the date of grant (excluding the number of shares of common stock issued under the 2017 Plan and/or the Legacy Plan or subject to outstanding awards granted under the 2017 Plan and/or the Legacy Plan). No award will be granted under the 2017 Plan on, or after, July 7, 2027. Stock options During the year ended June 30, 2023, a total of 70 stock options to purchase shares of common stock were granted to directors and officers of the Company. Of the total stock options granted, six have an exercise price of $12.75 per share and vest in 12 equal monthly installments beginning on August 1, 2022, while 64 stock options granted have an exercise price of $ 8.785 10-year The following table sets forth changes in stock options outstanding under all plans: Number of Weighted Balance – June 30, 2021 128 112.84 Granted 79 49.46 Expired (6 ) 151.19 Forfeited (25 ) 83.76 Balance – June 30, 2022 176 87.05 Granted 78 8.79 Expired (56 ) 102.65 Balance – June 30, 2023 198 51.71 The following table summarizes stock options outstanding and exercisable under all plans at June 30, 2023: Exercise price Number Weighted Number 6.04 9 9.64 — 8.79 64 9.10 — 12.75 to 16.25 6 9.30 6 30.50 to 48.00 83 8.01 40 62.00 to 68.50 14 7.89 13 85 21 7.22 20 1,055.00 to 2,660.00 1 2.48 1 198 80 Stock options issued during the years ended June 30, 2023, and 2022, have been valued using a Black-Scholes pricing model with the following assumptions: June 30, June 30, Dividend rate — % — % Volatility 91.4 % 91.7 % Risk-free rate 2.67 % 1.18 % Term – years 6.1 6.0 The estimated volatility of the Company’s common stock at the date of issuance of the stock options is based on the historical volatility of the Company. The risk-free interest rate is based on rates published by the government for bonds with a maturity similar to the expected remaining life of the stock options at the valuation date. The expected life of the stock options has been estimated using the plain vanilla method. The Company has recognized the following amounts as stock option expense for the periods noted: Years ended June 30, 2023 $ 2022 $ Research and development 451 601 General and administrative 1,039 1,647 1,490 2,248 All of the stock option expense for the periods ended June 30, 2023, and 2022, has been recognized as additional paid in capital. The aggregate intrinsic value of stock options outstanding at June 30, 2023, was nil (2022 - nil) and the aggregate intrinsic value of stock options exercisable at June 30, 2023, was nil (2022—nil). As of June 30, 2023, there was $812 in unrecognized compensation expense that will be recognized over the next 2.55 years. The following table sets forth changes in unvested stock options under all plans: Number of Weighted Unvested at June 30, 2021 77 80.18 Granted 79 49.46 Vested (48 ) 78.23 Forfeited (24 ) 83.76 Unvested at June 30, 2022 84 51.23 Granted 78 8.79 Vested (44 ) 48.53 Unvested at June 30, 2023 118 24.12 The aggregate intrinsic value of unvested stock options at June 30, 2023 was nil (2022 - nil). The unvested stock options have a remaining weighted average contractual term of 8.83 (2022 – 9.19) years. Restricted stock units On August 1, 2022, the Company issued 18 RSUs to its officers. Subject to providing continuous service to the Company, the RSUs vest in four equal annual installments commencing August 1, 2023. On June 1, 2023, the Company issued 60 RSU to one of its officers. Subject to providing continuous service to the Company, the RSUs all fully vest on June 1, 2024 During the year ended June 30, 2023, the Company recognized a total of $90 (2022—nil) related to RSU. Number of Number of Balance – June 30, 2021 and 2022 — — Issuance of RSU 78 — Balance – June 30, 2023 78 — Common stock warrants The following table sets forth changes in outstanding warrants: Number of Weighted Balance – June 30, 2021 139 167.21 Issuance of 2022 Investor Warrants 240 62.50 Issuance of PFW 96 0.05 Issuance of 2022 Agent Warrants 12 78.13 Issuance of 2022 April Investor Warrants 324 20.50 Issuance of 2022 April Agent Warrants 32 33.13 Exercise of PFW (96 ) 0.05 Exercise of 2020 Investor Warrants (1 ) 50.00 Expiry of warrants (i) (26 ) 427.51 Balance – June 30, 2022 720 49.36 Expiry of 2018 Investor and Agent warrants (7 ) 625.68 Balance – June 30, 2023 713 43.55 i) Expired warrants include: 21 Adgero replacement warrants with an exercise price of $159.00, four 2017 Investor Warrants with an exercise price of $1,750.00, and one 2017 Agent Warrant with an exercise price of $2,030.00. The following table summarizes the Company’s outstanding warrants as of June 30, 2023: Description of warrants Number Exercise Expiry date 2022 April Investor warrants 325 20.50 April 14, 2027 2022 Investor warrants 240 62.50 March 28, 2025 2020 Investor warrants 65 50.00 August 16, 2024 2019 Investor warrants 15 155.00 June 5, 2024 NBTS Warrants 3 54.50 June 19, 2025 Warrants issued for services 20 32.00 to September 22, 2023 to 2022 April Agent warrants 32 33.12 October 14, 2026 2022 Agent warrants 12 78.12 March 28, 2025 2019 Agent warrants 1 193.75 June 3, 2024 713 Series C preferred stock warrants In connection with the Series C Preferred Stock private placement, the Company issued 2,504 Series C Agent Warrants. The Series C Agent Warrants have an exercise price of $1,000 per share, provide for a cashless exercise feature, and are exercisable for a period of four years from August 19, 2020. The Series C Preferred Stock issuable upon exercise of the Series C Agent Warrants is convertible into shares of common stock in the same manner as each respective underlying series of outstanding Series C Preferred Stock and will be entitled to the same dividend rights as each respective series. The following table sets forth changes in outstanding Series C Agent Warrants: Balance, Number of Number of Balance, Exercise Issuance of Preferred Series C-1 1,929 — — 1,929 58.00 Issuance of Preferred Series C-2 219 — — 219 60.70 Issuance of Preferred Series C-3 296 — — 296 57.50 2,444 — — 2,444 The following table summarizes the Company’s outstanding Series C Agent Warrants as of June 30, 2022: Series C Agent Warrants Number Conversion Number of Cumulative Series 1 1,929 58.00 33 23 Series 2 219 60.70 4 3 Series 3 296 57.50 5 4 2,444 42 30 | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||
Class of Stock [Line Items] | ||||
Stockholders' Equity | Note 8—Stockholders’ equity The Company has two classes of stock defined in its Amended and Restated Articles of Incorporation (the “Articles). Common Stock – Holders of common stock are entitled to one vote for each share of common stock. Preferred Stock – The Company is authorized to issue up to 150,000,000 shares of Preferred Stock based on the Articles. The Company has three classes of Preferred Stock: Series A, Series A-1, and Series B. See below for a summary of the rights and preferences for the Company’s Preferred Stock: i. Accrues dividends whether or not declared, are cumulative, and are payable only if declared by the Board of Directors. The Series A and Series A-1 preferred stock accrue dividends at a rate of $0.0208 and $0.0264, per annum respectively. Accrued, but unpaid Series A and A-1 dividends totaled approximately $5,889,000 as of March 31, 2024. The Series B preferred stock accrues dividends at a rate of $0.066 for the first two years. After the second anniversary, Series B stock accrues dividends at a rate of $0.0264 per annum. Accrued but unpaid Series B dividends totaled approximately $4,221,000 as of March 31, 2024. ii. Has liquidation preferences over common stock; iii. Is convertible into common stock, at the option of the holder, subject to adjustments, as defined; and iv. For purposes of voting, each holder of outstanding shares of Preferred Stock is entitled to cast the number of votes equal to the number of whole shares of common stock into which the shares are convertible to. v. The holders of Series A and Series A-1 Preferred Stock exclusively and voting together as a single class have the right to elect one Director of the Company. vi. A majority of all three classes of Preferred stock are required to amend the Articles of Incorporation or Bylaws, issue shares (unless they are junior to the Preferred stock), issue debt greater than $250,000, liquidate or dissolve the Company, or hold stock in an unaffiliated Company. As of March 31, 2024, the Company has 45,186,000 warrants outstanding, of which 8,579,000 warrants were for services performed with respect to historical offerings. The remaining warrants were issued to Series A, A-1, and B preferred investors. As of March 31, 2024, no holders have elected to exercise their warrants in whole or in part. | Note 9—Stockholders’ equity The Company has two classes of stock defined in its Amended and Restated Articles of Incorporation (the “Articles”). Common Stock – Holders of common stock are entitled to one Preferred Stock – The Company is authorized to issue up to 150,000,000 shares of Preferred Stock based on the Articles. The Company has three classes of Preferred Stock: Series A, Series A-1, i. Accrues dividends whether or not declared, are cumulative, and are payable only if declared by the Board of Directors. The Series A and Series A-1 A-1 5,570 ,000 0.066 0.0264 3,594,000 ii. Has liquidation preferences over common stock; iii. Is convertible into common stock, at the option of the holder, subject to adjustments, as defined; and iv. For purposes of voting, each holder of outstanding shares of Preferred Stock is entitled to cast the number of votes equal to the number of whole shares of common stock into which the shares are convertible to. v. The holders of Series A and Series A-1 vi. A majority of all three classes of Preferred stock are required to amend the Articles of Incorporation or Bylaws, issue shares (unless they are junior to the Preferred stock), issue debt greater than $250,000, liquidate or dissolve the Company, or hold stock in an unaffiliated Company. As of December 31, 2023, the Company has 45,186,000 warrants outstanding, of which 8,579,000 warrants were for services performed with respect to historical offerings. The remaining warrants were issued to Series A, A-1, |
Stock Option Plans
Stock Option Plans | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Stock option plans | Note 9—Stock option plans The Company uses the Black-Scholes option pricing model to estimate the fair value of stock-based awards on the date of grant. The assumptions employed in the calculation of the fair value of share-based compensation expense were calculated as follows for all periods presented: 2024 2023 Common stock fair value $0.66 $0.66 Risk free interest rate 4.05% - 4.89% 4.05% - 4.89% Expected dividend yield 0% 0% Expected term 4.9 years 4.9 years Expected stock volatility 91.9% - 99.7% 91.9% - 99.7% Below is a summary of stock option activity for the year ended December 31, 2023, and period ending March 31, 2024: Number Weighted Weighted Outstanding at January 1, 2023 14,284,013 $0.51 4.71 years Expired (450,000 ) $0.50 Granted 1,711,350 $0.66 Outstanding at December 31, 2023 15,545,363 $0.53 4.43 years Expired (50,000 ) $0.50 Exercised (250,000 ) $0.50 Granted 4,638,471 $0.72 Outstanding at March 31, 2024 19,883,834 $0.58 5.52 years Excercisable at March 31, 2024 13,243,095 $0.53 3.50 years Options outstanding had an intrinsic value of $3,181,000 and $1,964,000 as of March 31, 2024 and December 31, 2023, respectively. As of March 31, 2024, there was $3,149,000 of unrecognized stock compensation, which will be recognized over the next three years. | Note 10—Stock option plans Prior to 2016, the Company issued stock options in accordance with the 2003 Stock Option Plan. During 2016, the Company adopted the 2016 Stock Option Plan (the “2016 Plan”). The 2016 Plan was superseded and replaced by the 2019 Amended and Restated Option Plan that was adopted in January 2019 (the “2019 Plan” and collectively the “Stock Option Plans”). The maximum number of common stock of which may be issued under the 2019 Plan shall not exceed 20,000,000 (4,000,000 shares were allowed under the 2016 Plan). The Company uses the Black-Scholes option pricing model to estimate the fair value of stock-based awards on the date of grant. The assumptions employed in the calculation of the fair value of share-based compensation expense were calculated as follows for all periods presented: 2023 2022 Common stock fair value $0.66 $0.51 Risk free interest rate 4.05% - 4.89% 3.88% - Expected dividend yield 0% 0% Expected term 4.9 years 4.9 years Expected stock volatility 91.9% - 99.7% 89.2% - 89.7% Below is a summary of stock option activity for the years ended December 31, 2023, and 2022: Number of options Weighted Weighted Outstanding at January 1, 2022 13,194,013 $ 0.51 4.26 years Expired (350,000 ) $ 0.50 Granted 1,440,000 $ 0.66 Outstanding at December 31, 2022 14,284,013 $ 0.51 4.71 years Expired (450,000 ) $ 0.50 Granted 1,711,350 $ 0.66 Outstanding at December 31, 2023 15,545,363 $ 0.53 4.43 years Exercisable at December 31, 2023 13,270,374 $ 0.52 3.62 years Options outstanding had an intrinsic value of $1,964,000 and $2,035,000 as of December 31, 2023, and 2022, respectively. As of December 32, 2023, there was $796,000 of unrecognized stock compensation, which will be recognized over the next three years. |
Income Taxes
Income Taxes | 12 Months Ended | |
Dec. 31, 2023 | Jun. 30, 2023 | |
Income Taxes | 8. Income taxes For the years ended June 30, 2023, and 2022, the Company did not record a provision for income taxes due to a full valuation allowance against the deferred tax assets. Significant components of the Company’s deferred tax assets and deferred tax liabilities are shown below: June 30, June 30, Deferred tax assets: Non-capital 29,204 25,541 Stock-based compensation 982 635 Capital losses carried forward 18 18 Financing costs 326 326 Bonus - compensation 37 85 Scientific research and development 895 803 Scientific research and development – Investment 769 690 Capitalized research and development expenses 265 — 32,496 28,098 Deferred tax liabilities: Scientific research and development – ITC (127 ) (114 ) 32,369 27,984 Valuation allowance (32,369 ) (27,984 ) Net future tax assets — — The income tax benefit of these tax attributes has not been recorded in these consolidated financial statements because of the uncertainty of their recovery. The Company’s effective income tax rate differs from the statutory income tax rate of 21% (2022 – 21%). The differences arise from the following items: June 30, June 30, Tax recovery at statutory income tax rates (3,076 ) (4,743 ) Permanent differences (1,095 ) 802 Effect of rate differentials between jurisdictions (127 ) (345 ) Effect of foreign exchange rates 66 445 Scientific research and development – ITC (61 ) (44 ) Adjustment to prior year’s provision versus statutory tax returns (106 ) (2,332 ) Other 13 196 Change in valuation allowance 4,386 6,021 — — The Company has no current income tax expense for the year ended June 30, 2023, as there was a taxable loss for this period. The components of the Company’s loss before income taxes for the year ended June 30, 2023, were allocated as to $6.7 million in the U.S. and $7.9 million in Canada. As of June 30, 2023, the Company had combined U.S. and Canadian net operating loss (“NOL”) carry forwards of $109.3 million (2022 – $96.4 million). The U.S. federal NOL carryforwards consist of $15.8 million generated before July 1, 2018, which begin expiring in 2026, and $34.1 million that can be carried forward indefinitely, but are subject to the 80% taxable income limitation. The Canadian NOL carryforwards of $59.4 million begin expiring in 2030. In addition, the Company has non-refundable non-refundable The Company files U.S. federal, U.S. state, and Canadian income tax returns with varying statues of limitations. The tax years from 2007 to 2022 remain open to examination due to the carryover of unused NOL carryforwards and tax credits. The Company currently is not under examination by any tax authority. Internal Revenue Code (“IRC”) Section 382 and 383 places a limitation on the amount of taxable income that can be offset by NOL and credit carryforwards after a change in control (generally greater than 50% change in ownership within a three-year period) of a loss corporation. Generally, after a change in control, a loss corporation cannot deduct NOL and credit carryforwards in excess of the IRC Section 382 and 383 limitations. The limitation in the federal and state NOL and research and development credit carryforwards reduce the deferred tax assets, which are further offset by a full valuation allowance. The limitation can result in the expiration of the NOLs and research and development credit carryforwards available. The Company has performed an IRC Section 382 and 383 analysis and determined there was an ownership change in 2013. The Company has not performed any section 382 and 383 analyses since 2013. An assessed change in ownership subsequent to 2013 could limit future use of NOL and research and development credit carryforwards. The acquisition of Adgero Biopharmaceuticals Holdings, Inc. also triggers IRC Section 382 on the pre-acquisition pre-acquisition The CARES Act, was enacted March 27, 2020. Among the business provision, the CARES Act provided for various payroll tax incentives, changes to net operating loss carryback and carryforward rules, business interest expense limitation increases, and bonus depreciation on qualified improvement property. Additionally, the Consolidated Appropriations Act of 2021 was signed on December 27, 2020, which provided additional COVID-19 | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||
Income Taxes | Note 8—Income taxes The components of the provision for income taxes are as follows: Tax expense (benefit): 2023 2022 Current $ — $ — Deferred — — Total provision (benefit) for income taxes $ — $ — As of December 31, 2023, and 2022, the Company had temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and their respective income tax bases, measured by enacted state and federal tax rates, as follows: 2023 2022 Book Income (Loss) - Pre-Tax 29,317,000 9,358,000 Statutory rate $ 6,157,000 $ 1,967,000 State Tax Rate 1,274,000 407,000 Permanent and other items (43,000 ) 42,000 R&D Credit 357,000 427,000 Change in valuation allowance (7,745,000 ) (2,843,000 ) $ — $ — The following is a reconciliation of tax computed at the statutory rates to the income tax provision recognized in the consolidated financial statements for the years ended December 31: 2023 2022 Deferred tax assets (liabilities): Net operating loss carryforward $ 11,144,000 $ 9,539,000 Intangible assets 3,909,000 — Section 174 R&D 3,506,000 1,745,000 Accrued expenses 359,000 286,000 Basis differences (13,000 ) 26,000 Stock compensation expense 589,000 510,000 Research and development credit 1,808,000 1,451,000 Total deferred tax assets, net 21,302,000 13,557,000 Less valuation allowance (21,302,000 ) (13,557,000 ) Total net deferred tax assets $ — $ — In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the levels of historical taxable income and projections of future taxable income over which the deferred tax assets are deductible, the Company believes that it is more likely than not that it will not be able to realize the benefits of some of these deductible differences. At December 31, 2023, the Company has federal and state tax net operating loss carryforwards of approximately $43,968,000. Approximately $15,218,000 of the loss carryforwards will expire through 2037, unless previously utilized. The remaining $28,750,000 of loss carryforwards do not expire. Utilization of the net operating loss carryforwards and credits may be subject to a substantial annual limitation due to the ownership change limitations provided by the IRC, and similar state provisions. The Company has not performed a detailed analysis to determine whether an ownership change under Section 382 of the IRC has occurred, but believes it to be likely. The effect of an ownership change would be the imposition of an annual limitation on the use of the loss carryforwards. |
Supplementary Statement of Cash
Supplementary Statement of Cash Flows Information | 9 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Jun. 30, 2023 | |
Supplemental Cash Flow Elements [Abstract] | ||
Supplementary statement of cash flows information | 8 Supplementary statement of cash flows information The Company incurred the following non-cash investing and financing transactions (in thousands): Nine months ended 2024 2023 Series C Preferred Stock common stock dividend (note 7) 173 362 Non-cash — 289 Equipment additions reclassified from prepaid expenses — 447 Income taxes paid — — Interest paid — — | 10. Supplementary statement of cash flows information Year Year Series C Preferred Stock common stock dividend (note 6) 362 2,462 Non-cash 289 683 Issue costs in accounts payable — 43 Equipment additions reclassified from prepaid expenses 447 — Conversion of Series C Preferred Stock to common stock (note 6) — 2,377 Income taxes paid — — Interest paid — — |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Jun. 30, 2023 | |
Risks and Uncertainties [Abstract] | |
Financial Risk Management | 11. Financial risk management Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect the Company’s income or valuation of its financial instruments. The Company is exposed to financial risk related to fluctuation of foreign exchange rates. Foreign currency risk is limited to the portion of the Company’s business transactions denominated in currencies other than the United Sates dollar, primarily general and administrative expenses incurred in Canadian dollars. The Company believes that the results of operations, financial position and cash flows would be affected by a sudden change in foreign exchange rates but would not impair or enhance its ability to pay its Canadian dollar accounts payable. The Company manages foreign exchange risk by converting its US$ to CA$ as needed. The Company maintains the majority of its cash in US$. As of June 30, 2023, net Canadian dollar denominated accounts payable and accrued liabilities exposure in US$ totaled $22. a) Foreign exchange risk Foreign exchange risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. If foreign exchange rates were to fluctuate within +/-10% year-end, Balances in foreign currencies at June 30, 2023, and 2022, were as follows: June 30, June 30, Trade payables 51 74 Cash 13 27 Interest, taxes, and other receivables 8 11 b) Interest rate risk The Company is subject to interest rate risk on its cash and cash equivalents and believes that the results of operations, financial position and cash flows would not be significantly affected by a sudden change in market interest rates relative to the investment interest rates due to the short-term nature of the investments. As of June 30, 2023, cash and cash equivalents held by the Company were $1,535. The Company’s cash balance currently earns interest at standard bank rates. If interest rates were to fluctuate within +/-10% The only financial instruments that expose the Company to interest rate risk are its cash and cash equivalents. Liquidity risk Liquidity risk is the risk that the Company will encounter difficulty in raising funds to meet cash flow requirements associated with financial instruments. The Company continues to manage its liquidity risk based on the outflows experienced for the period ended June 30, 2023, and is undertaking efforts to conserve cash resources wherever possible. The maximum exposure of the Company’s liquidity risk is $3,248 as of June 30, 2023. Credit risk Credit risk arises from cash and cash equivalents, deposits with banks, financial institutions, and contractors as well as outstanding receivables. The Company limits its exposure to credit risk, with respect to cash and cash equivalents, by placing them with high quality credit financial institutions. The Company’s cash equivalents consist primarily of operating funds with commercial banks. Of the amounts on deposit with financial institutions, the following table summarizes the amounts at risk should the financial institutions with which the deposits are held cease trading: The maximum exposure of the Company’s credit risk is $12 at June 30, 2023, relating to interest, taxes, and other receivables. The credit risk related to uninsured cash and cash equivalents balances is $957 at June 30, 2023. Cash and Insured Non- 1,535 578 957 Concentration of credit risk Financial instruments that subject the Company to credit risk consist primarily of cash and cash equivalents. The Company places its cash and cash equivalents in accredited financial institutions and therefore the Company’s management believes these funds are subject to minimal credit risk. The Company has no significant off-balance |
Asset purchase
Asset purchase | 12 Months Ended |
Dec. 31, 2023 | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |
Asset Acquisition [Line Items] | |
Asset purchase | Note 12—Asset purchase On January 26, 2023 the Company acquired certain assets of TuHURA Biopharma, Inc for $1.2 million in cash and 22.7 million common shares. Dr. Bianco, President, Chief Executive Officer, and a director of the Company, was also the Chief Executive Officer and majority shareholder of TuHURA Biopharma, Inc. at the time of the acquisition of certain of its assets by the Company. TuHURA had patented delta receptor technology that was licensed from Moffitt Cancer Center and West Virginia Research Institute. As a result of this transaction, the Company shall own these licenses. The common shares issued to TuHURA have an estimated fair market value of $15.0 million, or $0.66 per share. In determining the fair value of the common shares issued to TuHURA, the Company took into account the $0.66 price per share paid for shares of the Company’s Series B Preferred Stock and warrants in a capital raise that occurred approximately 6 months prior to the TuHURA asset acquisition. At the time of the Series B Capital raise, the implied value per common share was approximately $0.50 to $0.55. Since that Series B capital raise, both parties considered the significant milestones achieved by the Company. These milestones included adding two new prominent independent Board members, adding five new patients into the Company’s Phase 1b trial and expanding the trial by eleven additional patients, the progression of discussions with the FDA on the development of a Phase 2/3 protocol for a trial for Advanced Metastatic Merkel Cell Carcinoma (MCC), hiring a Vice President of Clinical Operations and a Vice President of Regulatory Affairs, finalizing the selection of a contract research organization (CRO) to conduct the upcoming Phase 2/3 MCC trial, and making critical advancements in manufacturing and assay work for the planned Phase 2/3 MCC trial. As a result of these achievements, both parties agreed that the Company’s common shares had increased to a value of $0.66 at the time of the TuHURA transaction. The Company has evaluated the acquired assets and does not believe they meet the definition of a business as defined within ASC Topic 805. Additionally, the Company believes that substantially all of the fair value of the gross assets acquired in the asset purchase is concentrated in a single identifiable asset or group of similar identifiable assets. As such, the asset purchase has been accounted for as an asset acquisition. As the underlying asset is in-process The licenses require payment of annual maintenance fees of no more than $105,000 to Moffitt Cancer Center and West Virginia Research Institute. As certain clinical milestones are met, the Company shall owe additional fees, ranging from $187,500 upon a Phase 1 trial initiation to $1,250,000 upon FDA approval. In addition, if there is a change of control, the Company shall owe 25% of the transaction fee that was paid to the investment bank. If the Company enters into a sublicense of the technology, these institutions shall receive a low double-digit percentage of the sublicense income. There are single digit royalties on net sales of products that use the patented technology, along with minimum royalties if minimum sales targets are not reached. If certain clinical trial milestones are not reached within a certain period, without being extended by the Company, then Moffitt has the right to terminate the license agreement. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | |
Loss Contingencies [Line Items] | |||
Commitments and contingencies | 9. Commitments and contingencies The Company has the following obligations over the next five fiscal years ending June 30, 2028: Clinical development The remaining commitments relating to contracts for drug manufacturing, clinical study management and safety for contracts the Company has entered into for its clinical trials as of June 30, 2023, is $3,200. Pursuant to the commitments for clinical trials, the Company has paid a total of $4,300 in deposits related to study initiation and certain study costs, a portion of which has been expensed (note 3). These deposits are available to be applied against invoices received from the contract research organization but have not been netted against the Company’s commitments for the fiscal year ended June 30, 2023. Office lease The Company currently rents its shared head office on a one-year month-to-month | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||
Loss Contingencies [Line Items] | |||
Commitments and contingencies | Note 10—Commitments and contingencies Lease Commitments – The Company leases facilities under non-cancelable operating leases for the laboratory and offices in Tampa, Florida. The current lease expires in February 2026. Future minimum lease payments under these leases are as follows: Year ending December 31, 2024 $ 128,090 Year ending December 31, 2025 172,931 Year ending December 31, 2026 43,411 Interest portion of right of use liability (33,556 ) Operating lease liabilities $ 310,876 Total lease expense was approximately $62,000 and $47,000 for the three months ending March 31, 2024 and 2023, respectively . Employment Agreements – In March, 2024, the Company signed a consulting agreement with the former CEO and President. In May 2023, and amended in March 2024, the Company signed employment agreements with the CEO and CFO . Future minimum payments under these employment and consulting agreements are as follows: Year ending December 31, 2024 $ 827,126 Year ending December 31, 2025 877,835 $ 1,704,961 | Note 11—Commitments and contingencies Lease Commitments non-cancelable Future minimum lease payments under these leases are as follows: Year ending December 31, 2024 $ 21,002 Year ending December 31, 2025 — 21,002 Interest portion of right of use liability (182 ) Right of use lease liability $ 20,820 Total lease expense was approximately $192,000 and $193,000 for the years ended December 31, 2023, and 2022, respectively. Employment Agreements Future minimum payments under these employment and consulting agreements are as follows: Year ending December 31, 2024 683,000 Year ending December 31, 2025 499,000 $ 1,182,000 |
Subsequent Events
Subsequent Events | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | |
Subsequent Event [Line Items] | ||||
Subsequent events | 10 Subsequent events The Company has evaluated its subsequent events from March 31, 2024, through the date these condensed consolidated interim financial statements were issued and has determined that there are no subsequent events requiring disclosure in these condensed consolidated interim financial statements other than the items noted below. Merger with TuHURA Biosciences, Inc. On April 2, 2024, the Company, Kayak Mergeco, Inc., a wholly-owned subsidiary of Kintara incorporated in the State of Delaware (“Merger Sub”), and TuHURA Biosciences, Inc., a Delaware corporation (“TuHURA”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) pursuant to which Merger Sub will merge with and into TuHURA, with TuHURA surviving the merger and becoming a direct, wholly-owned subsidiary of the Company (the “Merger”). Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger (the “Effective Time”), (i) each then-outstanding share of TuHURA common stock, par value $ 0.001 per share (the “TuHURA Common Stock”) (other than any shares held in treasury and Dissenting Shares (as defined in the Merger Agreement)) will be converted into shares of the Company’s common stock equal to the Exchange Ratio, as such term is defined in the Merger Agreement, (ii) each then-outstanding TuHURA stock option will be assumed and converted into an option to purchase shares of the Company’s common stock, subject to certain adjustments as set forth in the Merger Agreement, and (iii) each then-outstanding warrant to purchase shares of TuHURA Common Stock (the “TuHURA Warrants”) will be assumed and converted into and exchangeable for a warrant of like tenor entitling the holder to purchase shares of the Company’s common stock, subject to certain adjustments as set forth in the Merger Agreement. In addition to the foregoing, the Merger Agreement provides that, at the closing of the Merger, the corporate name of the Company will be changed to “TuHURA Biosciences, Inc.” Existing Company stockholders will receive contingent value rights (“CVR”), entitling them to receive shares of the Company’s common stock upon achievement of enrollment of a minimum of 10 REM-001 follow-up Under the terms of the Merger Agreement, on a pro forma basis, post-merger Company stockholders are expected to collectively own approximately 2.85 %, or approximately 5.45 % including the shares underlying the CVR, of the common stock of the post-merger combined company on a pro forma fully diluted basis. TuHURA stockholders are expected to collectively own approximately 97.15 %, or 94.55 % assuming the distribution of the CVR shares, of the common stock of the combined company on a pro forma fully diluted basis. The transaction is expected to close in the third calendar quarter of 2024 and remains subject to stockholder and regulatory approval. Termination Fees Payable by Kintara If the Merger Agreement is terminated by either Kintara or TuHURA under certain circumstances, Kintara must pay TuHURA a termination fee of $ 1,000 . If TuHURA terminates the Merger Agreement under certain circumstances, Kintara must reimburse TuHURA for expenses incurred by TuHURA in connection with the Merger Agreement and the transactions contemplated thereby, up to a maximum of $ 750 . Compensation Matters On April 2, 2024, the Board approved a one-time special bonus to Mr. Hoffman in the amount of $327 for his service as the Company’s Chief Executive Officer. On April 2, 2024, the Board agreed to (i) resume payment of fees earned by non-employee directors for serving on the Board and (ii) pay an aggregate of $93 in accrued fees to such directors. | 12. Subsequent events The Company has evaluated its subsequent events from June 30, 2023, through the date these consolidated financial statements were issued and has determined that there are no subsequent events requiring disclosure in these consolidated financial statements other than the items noted below. Clinical trials grant Effective July 1, 2023, the Company was awarded a $2,000 Small Business Innovation Research grant from the National Institutes of Health to support the clinical development of REM-001 REM-001, 15-patient re-started. Series C Preferred Stock On August 19, 2023, the Company recorded the common stock dividend on its Series C Preferred Stock as well as the Series C Agent Warrants. The common stock dividend corresponds to the 20% dividend payable on the third anniversary of the initial closing of the Series C Preferred Stock which occurred on August 19, 2020. The 20% stock dividend was payable on August 19, 2023, to the holders of the Series C Preferred Stock and the Series C Agent Warrants on that date. The 20% dividend is not payable on Series C Preferred Stock or Series C Agent Warrants that were converted, or exercised, prior to August 19, 2023. The dividend resulted in 49 shares of common stock being issued to the Series C Preferred Stock holders and 8 shares of common stock being accrued to the Series C Agent Warrants holders. The common stock accrued to the Series C Agent Warrants holders will be released to the Series C Agent Warrant holders upon the exercise of the respective Series C Agent Warrant. Stock options Subsequent to June 30, 2023, 89 stock options were granted at $4.655 per share and are exercisable until August 30, 2033. The 26 options granted to non-employee | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||
Subsequent Event [Line Items] | ||||
Subsequent events | Note 11—Subsequent events Subsequent events – issued Proposed merger with Kintara As discussed in Note 1, on April 2, 2024, the Company entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”) with Kintara, pursuant to which the subsidiaries of Kintara will merge with and into the Company, with the Company continuing as a wholly owned subsidiary of the surviving corporation of the merger (the “Merger”). The Merger is expected to be accounted for as a reverse recapitalization in accordance with GAAP, with Kintara treated as the acquired company for financial reporting purposes, and the Company treated as the accounting acquirer. Convertible promissory notes On April 2, 2024, the Company completed a private placement under which it offered and sold convertible notes to accredited investors and received subscriptions for an aggregate principal amount of $ 31,253,000 , of which $ 19,753,000 in aggregate subscriptions were funded as of June 26, 2024. Warrants affiliated with the convertible promissory notes On April 2, 2024, there was an addendum to the subscription agreement for investors which grants common stock purchase warrants to Holders in the event they subscribe to purchase Notes in the aggregate principal amount of more than $4.0 million or more equal to (i) 50% of the aggregate principal amount of the Note purchased divided by $0.68. There were no warrants granted through the date the financial statements were available to be issued, however, the Company anticipates granting warrants to purchase 18,797,794 shares of common stock with a strike price of $1.02 to Holders (or Holder Affiliates) that participated in subscriptions to purchase Notes greater than $4.0 million. | Note 13—Subsequent events Subsequent Events Convertible promissory notes On March, 21, 2024, the Company amended the terms in the event that the Company enters into definitive merger agreement on or before May 15, 2024, for a reverse merger transaction with a publicly listed company. The notes will then, immediately prior to the closing of such reverse merger transaction, convert automatically into a number of shares of common stock of the applicable public company, equal to the Conversion Amount divided by Sixty Eight Cents ($0.68) (which shall be subject to adjustment for any stock splits, reverse stock split, or the like occurring after the issuance of the Notes and before the conversion of the Notes). Extension of office space lease On March 22, 2024, The Company entered into a 25-month |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | |
Reverse Stock Split | Reverse stock split On November 10, 2022, the Company filed a Certificate of Change to the Company’s Articles of Incorporation, as amended, in order to effectuate a 1: 50 reverse stock split (the “Reverse Stock Split”) of its issued and outstanding common stock as well as its authorized shares of common stock. As a result of the Reverse Stock Split, every 50 shares of issued and outstanding common stock were converted into one share of common stock with a proportionate reduction in the Company’s authorized shares of common stock. Any fractional shares of common stock resulting from the Reverse Stock Split were rounded up to the nearest whole post-Reverse Stock Split share. The Reverse Stock Split did not change the par value of the Company’s common stock. All outstanding securities entitling their holders to acquire shares of common stock were adjusted as a result of the Reverse Stock Split. All common share and per share data are retrospectively restated to give effect to the Reverse Stock Split for all periods presented herein. | Reverse stock split On November 10, 2022, the Company filed a Certificate of Change to the Company’s Articles of Incorporation, as amended, in order to effectuate a 1:50 reverse stock split (the “Reverse Stock Split”) of its issued and outstanding common stock as well as its authorized shares of common stock. As a result of the Reverse Stock Split, every 50 shares of issued and outstanding common stock were converted into one share of common stock with a proportionate reduction in the Company’s authorized shares of common stock. Any fractional shares of common stock resulting from the Reverse Stock Split were rounded up to the nearest whole post-Reverse Stock Split share. The Reverse Stock Split did not change the par value of the Company’s common stock. All outstanding securities entitling their holders to acquire shares of common stock were adjusted as a result of the Reverse Stock Split. All common share and per share data are retrospectively restated to give effect to the Reverse Stock Split for all periods presented herein. | ||
Basis of Presentation | Basis of presentation The condensed consolidated interim financial statements of the Company have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) and are presented in United States dollars. The functional currency of the Company and each of its subsidiaries is the United States dollar. The accompanying condensed consolidated interim financial statements include the accounts of the Company and its wholly-owned subsidiaries, Adgero, Adgero Bio, Del Mar (BC), Callco, and Exchangeco. All intercompany balances and transactions have been eliminated in consolidation. The principal accounting policies applied in the preparation of these condensed consolidated interim financial statements are set out below and have been consistently applied to all periods presented. | Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) and are presented in United States dollars. The functional currency of the Company and each of its subsidiaries is the United States dollar. The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Adgero, Adgero Bio, Del Mar (BC), Callco, and Exchangeco. All intercompany balances and transactions have been eliminated in consolidation. The principal accounting policies applied in the preparation of these consolidated financial statements are set out below and have been consistently applied to all periods presented. | ||
Basis for Consolidation | Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Adgero, Adgero Bio, Del Mar BC, Callco, and Exchangeco as of, and for the years ended June 30, 2023, and 2022. All intercompany balances and transactions have been eliminated in consolidation. | |||
Use of Estimates | Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events that affect the reported amounts of assets, liabilities, expenses, contingent assets, and contingent liabilities as at the end of, or during, the reporting period. Actual results could significantly differ from those estimates. Significant areas requiring management to make estimates include the valuation of equity instruments issued for services, milestone payment liability, and clinical trial accruals. Further details of the nature of these assumptions and conditions may be found in the relevant notes to these condensed consolidated interim financial statements. | Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events that affect the reported amounts of assets, liabilities, expenses, contingent assets, and contingent liabilities as at the end of, or during, the reporting period. Actual results could significantly differ from those estimates. Significant areas requiring management to make estimates include the valuation of equity instruments issued for services, the milestone payment liability, and clinical trial accruals. Further details of the nature of these assumptions and conditions may be found in the relevant notes to these consolidated financial statements. | ||
Cash and Cash Equivalents | Cash and cash equivalents Cash and cash equivalents consist of cash and highly liquid investments with original maturities from the purchase date of three months or less that can be readily convertible into known amounts of cash. Cash and cash equivalents are held at recognized Canadian and United States financial institutions. Interest earned is recognized in the consolidated statement of operations. | |||
Foreign Currency Translation | Foreign currency translation The functional currency of the Company at June 30, 2023, is the United States dollar. Transactions that are denominated in a foreign currency are remeasured into the functional currency at the current exchange rate on the date of the transaction. Any foreign-currency denominated monetary assets and liabilities are subsequently remeasured at current exchange rates, with gains or losses recognized as foreign exchange losses or gains in the consolidated statement of operations. Non-monetary | |||
Property and equipment | Property and equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over its estimated useful life of three | |||
Income Taxes | Income taxes The Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. To the extent that deferred tax assets cannot be recognized under the preceding criteria, the Company establishes valuation allowances, as necessary, to reduce deferred tax assets to the amounts expected to be realized. As of June 30, 2023, and 2022, all deferred tax assets were fully offset by a valuation allowance. The realization of deferred tax assets is dependent upon future federal, state and foreign taxable income. The Company’s judgments regarding deferred tax assets may change due to future market conditions, as the Company expands into international jurisdictions, due to changes in U.S. or international tax laws and other factors. These changes, if any, may require material adjustments to the Company’s deferred tax assets, resulting in a reduction in net income or an increase in net loss in the period in which such determinations are made. The Company recognizes the impact of uncertain tax positions based upon a two-step position does not meet a more-likely-than-not more-likely-than-not The Company does not record U.S. income taxes on the undistributed earnings of its foreign subsidiaries based upon the Company’s intention to permanently reinvest undistributed earnings to ensure sufficient working capital and further expansion of existing operations outside the United States. As June 30, 2023, the Company’s foreign subsidiaries operated at a cumulative deficit for U.S. earnings and profit purposes. In the event the Company is required to repatriate funds from outside of the United States, such repatriation would be subject to local laws, customs, and tax consequences. Determination of the amount of unrecognized deferred tax liability related to these earnings is not practicable. | |||
Fair Value of Financial Instruments | Financial instruments The Company has financial instruments that are measured at fair value. To determine the fair value, the Company uses the fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use to value an asset or liability and are developed based on market data obtained from independent sources. Unobservable inputs are inputs based on assumptions about the factors market participants would use to value an asset or liability. The three levels of inputs that may be used to measure fair value are as follows: • Level one - inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level two - inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals; and • Level three - unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. As of June 30, 2023, the Company’s milestone payment liability was measured using level 3 inputs. The Company’s financial instruments consist of cash and cash equivalents, other receivables, accounts payable, and related party payables. The carrying values of cash and cash equivalents, other receivables, accounts payable and related party payables approximate their fair values due to the immediate or short-term maturity of these financial instruments. | |||
Intangible Assets | Intangible assets Patents Expenditures associated with the filing, or maintenance of patents, licensing or technology agreements are expensed as incurred. Costs previously recognized as an expense are not recognized as an asset in subsequent periods. If the Company achieves regulatory approval, patent costs will be deferred and amortized over the remaining life of the related patent. | |||
Accruals for Research and Development Expenses and Clinical Trials | Accruals for research and development expenses and clinical trials As part of the process of preparing its financial statements, the Company is required to estimate its expenses resulting from its obligations under contracts with vendors, clinical research organizations and consultants, and under clinical site agreements in connection with conducting clinical trials. The financial terms of these contracts are subject to negotiations, which vary from contract to contract and may result in payment terms that do not match the periods over which materials or services are provided under such contracts. The Company’s objective is to reflect the appropriate expenses in its financial statements by matching those expenses with the period in which services are performed and efforts are expended. The Company accounts for these expenses according to the timing of various aspects of the expenses. The Company determines accrual estimates by taking into account discussion with applicable personnel and outside service providers as to the progress of clinical trials, or the services completed. During the course of a clinical trial, the Company adjusts its clinical expense recognition if actual results differ from its estimates. The Company makes estimates of its accrued expenses as of each balance sheet date based on the facts and circumstances known to it at that time. The Company’s clinical trial accruals are dependent upon the timely and accurate reporting of contract research organizations and other third-party vendors. Although the Company does not expect its estimates to be materially different from amounts actually incurred, its understanding of the status and timing of services performed relative to the actual status and timing of services performed may vary and may result in it reporting amounts that are too high or too low for any particular period. For the years ended June 30, 2023, and 2022, there were no material adjustments to the Company’s prior period estimates of accrued expenses for clinical trials. | |||
Warrants and Shares Issued For Services | Warrants and shares issued for services The Company has issued equity instruments for services provided by employees and non-employees. | |||
Stock Compensation Expense | Stock options The Company recognizes compensation costs resulting from the issuance of stock-based awards to employees, non-employees 2018-07, 2018-07”), non-employee | |||
Restricted Stock Units | Restricted stock units The Company recognizes compensation costs resulting from the issuance of restricted stock units (“RSUs”) as an expense in the statement of operations over the service period based on a measurement of fair value for each RSU award. The RSUs are valued using the closing price of the Company’s common stock on the date of issuance with the total expense being recognized over the vesting period of the respective RSUs. | |||
Loss Per Share | Loss per share Income or loss per share is calculated based on the weighted average number of common shares outstanding. For the nine-month periods ended March 31, 2024, and 2023, diluted loss per share does not differ from basic loss per share since the effect of the Company’s warrants, stock options, restricted stock units, and convertible preferred shares is anti-dilutive. As of March 31, 2024, potential common shares of 693 (2023 – 713) related to outstanding common share warrants, 42 (2023 – 42) related to outstanding Series C preferred stock warrants, 222 (2023 – 198) related to stock options, 66 (2023 - 18) related to restricted stock units, and 235 (2023 – 245) relating to outstanding Series C convertible preferred shares were excluded from the calculation of net loss per common share. | Loss per share Income or loss per share is calculated based on the weighted average number of common shares outstanding. For the years ended June 30, 2023, and 2022, diluted loss per share does not differ from basic loss per share since the effect of the Company’s warrants, stock options, restricted stock units, and convertible preferred shares is anti-dilutive. As of June 30, 2023, potential common shares of 713 (2022 – 720) related to outstanding common share warrants, 42 (2022 – 42) related to outstanding Series C preferred stock warrants, 198 (2022 – 176) related to stock options, 78 (2022—nil ) related to restricted stock units, and 245 (2022 – 290) relating to outstanding Series C convertible preferred shares were excluded from the calculation of net loss per common share. | ||
Segment Information | Segment information The Company identifies its operating segments based on business activities, management responsibility and geographical location. The Company operates within a single | |||
Recently Issued Accounting Standards | Recently issued accounting standards Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated interim financial statements. | Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that are adopted by the Company as of the specified effective date. During the year ended June 30, 2023, there have been no new, or existing, recently issued accounting pronouncements that are of significance, or potential significance, that impact the Company’s consolidated financial statements. | ||
Unaudited Interim Financial Data | Unaudited interim financial data The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. Accordingly, they do not include all of the information and the notes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated interim financial statements should be read in conjunction with the June 30, 2023, audited consolidated financial statements of the Company included in this document. In the opinion of management, the unaudited condensed consolidated interim financial statements reflect all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation. The results for nine months ended March 31, 2024, are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2024, or for any other future annual or interim period. | |||
Government Assistance | Government assistance Government grants, including grants from similar bodies, are recognized when there is reasonable assurance that the Company has met the requirements of the approved grant program and there is reasonable assurance that the grant will be received. Grants that compensate the Company for expenses incurred are recognized in income or loss in reduction thereof in the same period in which the expenses are recognized. The Company uses a net presentation basis whereby the grant offsets the research and development expenses as it is being recovered under the grant program. | |||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||
Basis for Consolidation | Basis for Consolidation – The consolidated financial statements are comprised of all of the accounts of TuHURA Biosciences, Inc. and Veterinary Oncology Services, a wholly owned subsidiary (collectively the “Company”). All intercompany accounts and transactions have been eliminated in consolidation. | Basis for Consolidation | ||
Accounting Estimates | Accounting Estimates – The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect various amounts reported in consolidated financial statements and accompanying notes. Actual results could differ from those estimates. | Accounting Estimates | ||
Deferred Offering Costs | Deferred Offering Costs – Deferred offering costs consist of direct legal, accounting, and other fees and costs directly related to the Company’s pending merger (See note 1 and 11). The Company capitalized deferred offering costs prior to the close of the merger which are included in other assets within the condensed consolidated balance sheet as of March 31, 2024. Should the pending merger be abandoned, the deferred offering costs will be expensed immediately as a charge to general and administrative expense in the consolidated condensed statement of operations. The Deferred offering costs were $0.3 million and $0 million as of March 31, 2024 and December 31, 2023, respectively. | |||
Property and equipment | Property and Equipment – Property and equipment are carried at cost, less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets (generally five to seven years). Leasehold improvements are amortized straight-line over the shorter of the lease term or the estimated useful life of the asset. Property and equipment are reviewed for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. No impairment was recorded for the period ended March 31, 2024, nor the year ended December 31, 2023. | Property and Equipment | ||
Lease Accounting | Lease Accounting – In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases ( Topic 842 ). The guidance in ASU 2016-02 supersedes the lease recognition requirements in ASC Topic 840, Leases . ASU 2016-02 requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases, along with additional qualitative and quantitative disclosures. | Lease Accounting No. 2016-02, Topic 842 2016-02 Leases 2016-02 2016-02 | ||
Income Taxes | Income Taxes – Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes ( Topic 740 ), which enhances the income tax disclosure requirements for public entities on an annual basis. Under ASU 2023-09, public entities will be required to disclose in their rate reconciliation, on an annual basis, both percentages and amounts in their reporting currency for certain categories in a tabular format, with accompanying qualitative disclosures. The amendments in ASU 2023-09 are effective fiscal years beginning after December 31, 2024, and early adoption is permitted. The Company does not believe that the adoption of ASU 2023-09 will have a material impact on its condensed consolidated financial statements. | Income Taxes | ||
Grant Income | Grant Income— low-cost | |||
Research and Development Expenses | Research and Development Expenses – Research and development consists of expenses incurred in connection with the discovery and development of product candidates. The Company expenses research and development costs as incurred | Research and Development Expenses | ||
Acquired In-Process Research and Development | Acquired In-Process Acquired in-process research and development expenses consist of existing research and development projects at the time of the acquisition. Projects that qualify as IPR&D assets represent those that have not yet reached technological feasibility and had no alternative future use, which resulted in a write-off of these IPR&D assets to acquired in-process research and development expenses in our consolidated statements of operations. | Acquired In-Process in-process write-off in-process | ||
Concentration of Credit Risk | Concentration of Credit Risk – The Company maintains cash balances in banks. These balances are insured by the Federal Deposit Insurance Corporation up to $250,000. As of March 31, 2024, the uninsured portion of cash held by the Company was approximately $3,960,000. | Concentration of Credit Risk | ||
Fair Value of Financial Instruments | Fair Value of Financial Instruments – ASC 820, Fair Value Measurement, establishes a fair value hierarchy for instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s own assumptions (unobservable inputs). Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances. ASC 820 identifies fair value as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a three-tier fair value hierarchy that distinguishes between the following: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 inputs are unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. To the extent that the 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 in determining fair value is greatest for 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. See Note 7 for more information related to the Company’s Level 3 fair value measurement. The carrying values reported in the Company’s balance sheets for cash and cash equivalents, other current assets, accounts payable, and accrued expenses are reasonable estimates of their fair values due to the short-term nature of these items. | Fair Value of Financial Instruments the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances. ASC 820 identifies fair value as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a three-tier fair value hierarchy that distinguishes between the following: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 inputs are unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. To the extent that the 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 in determining fair value is greatest for 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. See Note 7 for more information related to the Company’s Level 3 fair value measurement. The carrying values reported in the Company’s balance sheets for cash and cash equivalents, other current assets, accounts payable, and accrued expenses are reasonable estimates of their fair values due to the short-term nature of these items. | ||
Derivative Financial Instruments | Derivative Financial Instruments – The Company evaluates all of its agreements to determine if such instruments have derivatives or contain features that qualify as embedded derivatives. The Company accounts for certain make-whole features that are associated with convertible notes as derivative liabilities at fair value and adjusts the instruments to their fair value at the end of each reporting period. Derivative financial liabilities are initially recorded at fair value, with gains and losses arising from changes in the fair value recognized in other income (expense) in the accompanying consolidated statements of operations for each reporting period while such instruments are outstanding. The embedded derivative liabilities are valued using a probability-weighted expected return method (“PWERM”). The critical inputs used to value the PWERM are a discount rate of 19.68%, the estimated make-whole interest payments for various settlement scenarios and the probability of each settlement scenario. If the Company repays the noteholders or if, during the next round of financing, the noteholders convert the debt into equity, the derivative financial liabilities will be de-recognized and reclassified to the condensed consolidated statements of stockholders’ (deficit) equity on that date. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. | Derivative Financial Instruments – de-recognized non-current net-cash | ||
Debt Discount and Debt Issuance Costs | Debt Discount and Debt Issuance Costs - Debt issuance costs are deferred and presented as a reduction to the convertible note payable. The initial fair value of the derivative liability on the make-whole premium is treated as a debt discount. Debt discount and debt issuance costs are amortized using the effective interest rate method over the term of the convertible promissory note. Amortization of debt discount and debt issuance costs are included within interest expense in the condensed consolidated statements of operations. | Debt Discount and Debt Issuance Costs – a debt discount. Debt discount and debt issuance costs are amortized using the effective interest rate method over the term of the convertible promissory note. Amortization of debt discount and debt issuance costs are included within interest expense in the consolidated statements of operations. | ||
Stock Compensation Expense | Stock Compensation Expense – The Company accounts for stock-based awards to employees and nonemployees using the fair value-based method to determine compensation for all arrangements where shares of stock or equity instruments are issued for compensation. Fair value of each common stock option is estimated on the date of grant using the Black-Scholes valuation model. The Black-Scholes model uses assumptions for expected volatility, expected dividends, expected term, and the risk-free interest rate. Expected volatility is based on historical volatility of a peer group’s common stock and other factors estimated over the expected term of the options. The expected term of the options granted is derived using the “simplified method” which computes expected term as the average of the sum of the average vesting term plus the contract term. The risk-free rate is based on the U.S. Treasury yield. | Stock Compensation Expense | ||
Common Stock Valuation | Common Stock Valuation – We are required to estimate the fair value of the common stock underlying our equity awards when performing fair value calculations. The fair value of the common stock underlying our equity awards was determined on each grant taking into account input from management and taking into account the pricing offered in our equity raises. All options to purchase shares of our common stock are intended to be granted with an exercise price per share no less than the fair value per share of our common stock underlying those options on the date of grant, based on the information known to us on the date of grant. In the absence of a public trading market for our common stock, on each grant date we develop an estimate of the fair value of our common stock in order to determine an exercise price for the option grants. Our determinations of the fair value of our common stock were made by considering the prices of preferred stock sold to investors in arm’s length transactions and the rights, preferences and privileges of our preferred stock relative to those of our common stock. | Common Stock Valuation | ||
Business Combinations and Asset Acquisitions | Business Combinations and Asset Acquisitions – We account for acquired businesses using the acquisition method of accounting, which requires that the assets acquired, and liabilities assumed be recorded at the date of acquisition at their respective fair values if the acquisition meets the definition of a business combination. If the acquisition does not meet the definition of a business combination, then it is accounted for as an asset acquisition and the purchase consideration is allocated to the acquired assets. ASC 805, Business Combinations, provides a model for determining whether an acquisition represents a business combination. In order to be a business, the integrated set of activities of the acquired entity needs to have an input and a substantive process that together significantly contribute to the ability to create outputs. The acquired entity must also pass the “Screen Test” which involves determining whether the acquisition represents an in-substance asset acquisition based on whether the fair value of the gross assets acquired is “substantially all” concentrated in a single asset or group of similar assets. This evaluation excludes certain acquired assets such as cash, deferred taxes, and goodwill associated with deferred taxes, but includes all other gross assets, including any consideration transferred in excess of the identified assets. | Business Combinations and Asset Acquisitions ASC 805, Business Combinations, provides a model for determining whether an acquisition represents a business combination. In order to be a business, the integrated set of activities of the acquired entity needs to have an input and a substantive process that together significantly contribute to the ability to create outputs. The acquired entity must also pass the “Screen Test” which involves determining whether the acquisition represents an in-substance |
Milestone payment liability (Ta
Milestone payment liability (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Business Combinations [Abstract] | |
Schedule Of Milestone Payment Liability | The probability used in the valuation was based on published research for the probability of success of oncology companies at a similar stage of development as the Company. The discount rate was based on published rates for corporate bonds and the term was based on an estimate of the planned timing of completion of the respective development achievement that would result in payment of the respective milestones. $ (in thousands) Balance – June 30, 2021 182 Change in fair value estimate (19 ) Balance – June 30, 2022 163 Change in fair value estimate 3 Balance – June 30, 2023 166 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | |
Property, Plant and Equipment [Line Items] | |||
Schedule of Property and Equipment, Net | $ Balance, June 30, 2023 709 Additions 20 Depreciation (38 ) Balance, March 31, 2024 691 | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Schedule of Property and Equipment, Net | Property and equipment, net consists of the following as of March 31, 2024, and December 31, 2023: Unaudited December 31, Furniture and fixtures $ 170,607 $ 170,607 Leasehold improvements 544,629 544,628 Machinery and office equipment 1,365,277 1,365,277 Software 72,394 72,394 2,152,907 2,152,906 Less accumulated depreciation and amortization (2,005,044 ) (1,970,736 ) $ 147,863 $ 182,170 | Property and equipment, net consists of the following as of December 31, 2023, and 2022: 2023 2022 Furniture and fixtures $ 170,607 $ 170,607 Leasehold improvements 544,628 544,628 Machinery and office equipment 1,365,277 1,330,053 Software 72,394 28,394 2,152,906 2,073,682 Less accumulated depreciation and amortization (1,970,736 ) (1,793,359 ) $ 182,170 $ 280,323 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |
Other Current Assets [Line Items] | |
Summary of other current assets | Other current assets consist of the following as of March 31, 2024, and December 31, 2023: Unaudited December 31, Employee Retention Tax Credit $ 334,443 $ 334,443 Deferred offering costs 284,867 — Other current assets 216,104 159,326 $ 835,414 $ 493,769 |
Accounts Payable And Accrued _2
Accounts Payable And Accrued Expenses (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||
Payables And Accruals [Line Items] | ||
Schedule of Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses consist of the following as of March 31, 2024, and December 31, 2023: Unaudited December 31, Trade accounts payable $ 1,635,016 $ 1,866,762 Accrued compensation 1,707,988 1,415,397 Accrued legal fees 466,801 — Accrued placement agent fees 368,960 56,400 Other accrued expenses 164,000 100,000 $ 4,342,765 $ 3,438,559 | Accounts payable and accrued expenses consist of the following as of December 31, 2023, and 2022: 2023 2022 Trade accounts payable $ 1,866,762 $ 1,915,766 Accrued compensation 1,415,397 675,000 Other accrued expenses 156,400 163,677 $ 3,438,559 $ 2,754,443 |
Financial instruments (Tables)
Financial instruments (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
Investments, All Other Investments [Abstract] | |
Schedule of Assets and Liabilities Classified , Changes in the Observability of Valuation Inputs Measured using Level 3 Inputs | As of March 2024 REM-001 program that was acquired in the Adgero merger (note 1). March 31, 2024 Liability Level 1 Level 2 Level 3 Milestone payment liability — — 183 $ Balance – June 30, 2023 166 Change in fair value estimate 17 Balance – March 31, 2024 183 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 9 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Jun. 30, 2023 | |
Class Of Stock [Line Items] | ||
Summary of Aggregate Information on all Equity Compensation Plans | The following table sets forth the aggregate information on all equity compensation plans as of March 31, 2024: Plan (in thousands, except per share amounts) Number of shares of issued upon exercise of outstanding stock options and rights Weighted- average exercise price of stock Number of shares of common stock remaining available for future issuance under equity securities reflected in column (a))(2) Equity compensation plans approved by security holders - 2017 Plan (1) 222 21.40 144 Equity compensation plans not approved by security holders - Del Mar (BC) 2013 Amended and Restated Stock Option Plan — 2,060.08 — Totals 222 32.92 144 (1) The Del Mar (BC) 2013 Amended and Restated Stock Option Plan refers to the Company’s previous equity compensation plan. (2) The balance of 144 shares of common stock available for issuance under the 2017 Plan as of March 2024 | The following table sets forth the aggregate information on all equity compensation plans as of June 30, 2023: Plan Category (in thousands, except per share amounts) Number of Weighted- Number of Equity compensation plans approved by security holders - 2017 Plan (1) 275 $ 34.72 160 Equity compensation plans not approved by security holders - Del Mar (BC) 2013 Amended and Restated Stock Option Plan 1 $ 2,160.10 — Totals 276 $ 51.71 160 (1) The Del Mar (BC) 2013 Amended and Restated Stock Option Plan refers to the Company’s previous equity compensation plan. (2) The balance of 161 shares of common stock available for issuance under the 2017 Plan as of June 30, 2023, is net of stock options previously exercised. |
Schedule of Stock Option Expense | The Company has recognized the following amounts as stock option expense for the periods noted (in thousands): Three months ended Nine months ended 2024 2023 2024 2023 Research and development 50 94 143 368 General and administrative 106 196 338 876 156 290 481 1,244 | The Company has recognized the following amounts as stock option expense for the periods noted: Years ended June 30, 2023 $ 2022 $ Research and development 451 601 General and administrative 1,039 1,647 1,490 2,248 |
Schedule of Unvested Stock Options | The following table sets forth changes in unvested stock options under all plans: Number of Weighted Unvested at June 30, 2023 118 24.12 Granted 89 4.66 Vested (56 ) 19.31 Forfeited (31 ) 8.26 Unvested at March 31, 2024 120 16.07 | The following table sets forth changes in unvested stock options under all plans: Number of Weighted Unvested at June 30, 2021 77 80.18 Granted 79 49.46 Vested (48 ) 78.23 Forfeited (24 ) 83.76 Unvested at June 30, 2022 84 51.23 Granted 78 8.79 Vested (44 ) 48.53 Unvested at June 30, 2023 118 24.12 |
Schedule of Restricted Stock Units | Number of Balance – June 30, 2023 78 Issuance of restricted stock units — Vesting of restricted stock units (4 ) Forfeiture of restricted stock units (8 ) Balance – March 31, 2024 66 | Number of Number of Balance – June 30, 2021 and 2022 — — Issuance of RSU 78 — Balance – June 30, 2023 78 — |
Schedule of Warrants | The following table sets forth changes in outstanding common stock warrants: Number of Weighted Balance – June 30, 2023 713 43.55 Expiry of warrants issued for services (20 ) 57.14 Balance – March 31, 2024 693 43.12 | The following table sets forth changes in outstanding warrants: Number of Weighted Balance – June 30, 2021 139 167.21 Issuance of 2022 Investor Warrants 240 62.50 Issuance of PFW 96 0.05 Issuance of 2022 Agent Warrants 12 78.13 Issuance of 2022 April Investor Warrants 324 20.50 Issuance of 2022 April Agent Warrants 32 33.13 Exercise of PFW (96 ) 0.05 Exercise of 2020 Investor Warrants (1 ) 50.00 Expiry of warrants (i) (26 ) 427.51 Balance – June 30, 2022 720 49.36 Expiry of 2018 Investor and Agent warrants (7 ) 625.68 Balance – June 30, 2023 713 43.55 i) Expired warrants include: 21 Adgero replacement warrants with an exercise price of $159.00, four 2017 Investor Warrants with an exercise price of $1,750.00, and one 2017 Agent Warrant with an exercise price of $2,030.00. |
Schedule of Changes in Outstanding Warrants | The following table summarizes the Company’s outstanding common stock warrants as of March 31, 2024: Description of warrants Number Exercise Expiry date 2022 April Investor warrants 325 20.50 April 14, 2027 2022 Investor warrants 240 62.50 March 28, 2025 2020 Investor warrants 65 50.00 August 16, 2024 2019 Investor warrants 15 155.00 June 5, 2024 NBTS Warrants 3 54.50 June 19, 2025 2022 April Agent warrants 32 33.12 October 14, 2026 2022 Agent warrants 12 78.12 March 28, 2025 2019 Agent warrants 1 193.75 June 3, 2024 693 | The following table summarizes the Company’s outstanding warrants as of June 30, 2023: Description of warrants Number Exercise Expiry date 2022 April Investor warrants 325 20.50 April 14, 2027 2022 Investor warrants 240 62.50 March 28, 2025 2020 Investor warrants 65 50.00 August 16, 2024 2019 Investor warrants 15 155.00 June 5, 2024 NBTS Warrants 3 54.50 June 19, 2025 Warrants issued for services 20 32.00 to September 22, 2023 to 2022 April Agent warrants 32 33.12 October 14, 2026 2022 Agent warrants 12 78.12 March 28, 2025 2019 Agent warrants 1 193.75 June 3, 2024 713 |
Series C Warrants | ||
Class Of Stock [Line Items] | ||
Schedule of Changes in Outstanding Warrants | The following table summarizes the Company’s outstanding Series C Agent Warrants as of March 31, 2024: Series C Agent Warrants Number Conversion Number of (in thousands) Cumulative (in thousands) Series 1 1,929 58.00 33 23 Series 2 219 60.70 4 3 Series 3 296 57.50 5 4 2,444 42 30 | The following table summarizes the Company’s outstanding Series C Agent Warrants as of June 30, 2022: Series C Agent Warrants Number Conversion Number of Cumulative Series 1 1,929 58.00 33 23 Series 2 219 60.70 4 3 Series 3 296 57.50 5 4 2,444 42 30 |
Schedule of Conversion of Series C Preferred Stock to Series C Warrants | The following table sets forth changes in outstanding Series C Agent Warrants: Balance Number of Number of Balance, Conversion Preferred Series C-1 1,929 — — 1,929 58.00 Preferred Series C-2 219 — — 219 60.70 Preferred Series C-3 296 — — 296 57.50 2,444 — — 2,444 | The following table sets forth changes in outstanding Series C Agent Warrants: Balance, Number of Number of Balance, Exercise Issuance of Preferred Series C-1 1,929 — — 1,929 58.00 Issuance of Preferred Series C-2 219 — — 219 60.70 Issuance of Preferred Series C-3 296 — — 296 57.50 2,444 — — 2,444 |
Stock options [Member] | ||
Class Of Stock [Line Items] | ||
Schedule of Outstanding Under the Legacy Plan | The following table sets forth changes in stock options outstanding under all plans: Number of stock options Weighted Balance – June 30, 2023 198 51.71 Granted 89 4.66 Expired (34 ) 107.69 Forfeited (31 ) 8.26 Balance – March 31, 2024 222 30.70 | The following table sets forth changes in stock options outstanding under all plans: Number of Weighted Balance – June 30, 2021 128 112.84 Granted 79 49.46 Expired (6 ) 151.19 Forfeited (25 ) 83.76 Balance – June 30, 2022 176 87.05 Granted 78 8.79 Expired (56 ) 102.65 Balance – June 30, 2023 198 51.71 |
Summary of Stock Options Currently Outstanding and Exercisable | The following table summarizes stock options outstanding and exercisable under all plans at March , 202 4 : Exercise price $ Number Weighted Number 4.66 79 9.42 15 6.04 9 8.89 2 8.79 34 8.34 14 12.75 to 16.25 6 8.53 6 30.50 to 48.00 73 7.56 44 62.00 to 68.50 13 7.06 13 85.00 7 6.46 7 304.95 to 2,660.00 1 2.11 1 222 102 | The following table summarizes stock options outstanding and exercisable under all plans at June 30, 2023: Exercise price Number Weighted Number 6.04 9 9.64 — 8.79 64 9.10 — 12.75 to 16.25 6 9.30 6 30.50 to 48.00 83 8.01 40 62.00 to 68.50 14 7.89 13 85 21 7.22 20 1,055.00 to 2,660.00 1 2.48 1 198 80 |
Schedule of Valuation Assumptions Using a Black-Scholes Pricing Model | Stock options granted during the nine months ended March 31, 2024, have been valued using a Black-Scholes pricing model with the following assumptions: March 31, 2024 Dividend rate — % Estimated volatility 91.40 % Risk-free interest rate 4.24 % Expected term – years 6.08 | Stock options issued during the years ended June 30, 2023, and 2022, have been valued using a Black-Scholes pricing model with the following assumptions: June 30, June 30, Dividend rate — % — % Volatility 91.4 % 91.7 % Risk-free rate 2.67 % 1.18 % Term – years 6.1 6.0 |
Performance stock units [Member] | ||
Class Of Stock [Line Items] | ||
Schedule of Issuance of Series C Preferred Stock | Series C Preferred Stock Number $ Balance – June 30, 2023 14,208 10,366 Conversion of Series C Preferred stock to common stock (540 ) (393 ) Balance – March 31, 2024 13,668 9,973 | Series C Preferred Stock Number $ Balance – June 30, 2021 20,092 14,652 Conversion of Series C Preferred stock to common stock (3,254 ) (2,377 ) Balance – June 30, 2022 16,838 12,275 Conversion of Series C Preferred stock to common stock (2,630 ) (1,909 ) Balance – June 30, 2023 14,208 10,366 |
Schedule of Series C Preferred Stock Outstanding, Conversion Shares and Aggregate Dividends | The Company’s Series C Preferred Stock outstanding, conversion shares, and aggregate dividends as of March 2024 Series Number Conversion Number of Dividend Series 1 10,925 58.00 188 151 Series 2 898 60.70 15 10 Series 3 1,845 57.50 32 24 13,668 235 185 Series C Dividends Dividend Shares 10% - August 19, 2021 (actual) 34 15% - August 19, 2022 (actual) 43 20% - August 19, 2023 (actual) 49 25% - August 19, 2024 (estimated) 59 185 | The Company’s Series C Preferred Stock outstanding, conversion shares, and future dividends as of June 30, 2023, are as follows: Series Number Conversion Price Number of Dividend Series 1 11,415 58.00 197 153 Series 2 898 60.70 15 10 Series 3 1,895 57.50 33 25 14,208 245 188 Series C Dividends Dividend Shares 10% - August 19, 2021 (actual) 34 15% - August 19, 2022 (actual) 43 20% - August 19, 2023 (estimated) 49 25% - August 19, 2024 (estimated) 62 188 |
Stock Option Plans (Tables)
Stock Option Plans (Tables) - TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Schedule of the assumptions employed in the calculation of the fair value of share-based compensation expense | The Company uses the Black-Scholes option pricing model to estimate the fair value of stock-based awards on the date of grant. The assumptions employed in the calculation of the fair value of share-based compensation expense were calculated as follows for all periods presented: 2024 2023 Common stock fair value $0.66 $0.66 Risk free interest rate 4.05% - 4.89% 4.05% - 4.89% Expected dividend yield 0% 0% Expected term 4.9 years 4.9 years Expected stock volatility 91.9% - 99.7% 91.9% - 99.7% | The Company uses the Black-Scholes option pricing model to estimate the fair value of stock-based awards on the date of grant. The assumptions employed in the calculation of the fair value of share-based compensation expense were calculated as follows for all periods presented: 2023 2022 Common stock fair value $0.66 $0.51 Risk free interest rate 4.05% - 4.89% 3.88% - Expected dividend yield 0% 0% Expected term 4.9 years 4.9 years Expected stock volatility 91.9% - 99.7% 89.2% - 89.7% |
Schedule of below is a summary of stock option activity | Below is a summary of stock option activity for the year ended December 31, 2023, and period ending March 31, 2024: Number Weighted Weighted Outstanding at January 1, 2023 14,284,013 $0.51 4.71 years Expired (450,000 ) $0.50 Granted 1,711,350 $0.66 Outstanding at December 31, 2023 15,545,363 $0.53 4.43 years Expired (50,000 ) $0.50 Exercised (250,000 ) $0.50 Granted 4,638,471 $0.72 Outstanding at March 31, 2024 19,883,834 $0.58 5.52 years Excercisable at March 31, 2024 13,243,095 $0.53 3.50 years | Below is a summary of stock option activity for the years ended December 31, 2023, and 2022: Number of options Weighted Weighted Outstanding at January 1, 2022 13,194,013 $ 0.51 4.26 years Expired (350,000 ) $ 0.50 Granted 1,440,000 $ 0.66 Outstanding at December 31, 2022 14,284,013 $ 0.51 4.71 years Expired (450,000 ) $ 0.50 Granted 1,711,350 $ 0.66 Outstanding at December 31, 2023 15,545,363 $ 0.53 4.43 years Exercisable at December 31, 2023 13,270,374 $ 0.52 3.62 years |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended | |
Dec. 31, 2023 | Jun. 30, 2023 | |
Schedule of Components Of The Provision For Income Taxes | The differences arise from the following items: June 30, June 30, Tax recovery at statutory income tax rates (3,076 ) (4,743 ) Permanent differences (1,095 ) 802 Effect of rate differentials between jurisdictions (127 ) (345 ) Effect of foreign exchange rates 66 445 Scientific research and development – ITC (61 ) (44 ) Adjustment to prior year’s provision versus statutory tax returns (106 ) (2,332 ) Other 13 196 Change in valuation allowance 4,386 6,021 — — | |
Schedule of Reconciliation Of Tax Computed At The Statutory Rates To The Income Tax Provision Recognized | Significant components of the Company’s deferred tax assets and deferred tax liabilities are shown below: June 30, June 30, Deferred tax assets: Non-capital 29,204 25,541 Stock-based compensation 982 635 Capital losses carried forward 18 18 Financing costs 326 326 Bonus - compensation 37 85 Scientific research and development 895 803 Scientific research and development – Investment 769 690 Capitalized research and development expenses 265 — 32,496 28,098 Deferred tax liabilities: Scientific research and development – ITC (127 ) (114 ) 32,369 27,984 Valuation allowance (32,369 ) (27,984 ) Net future tax assets — — | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||
Schedule of Components Of The Provision For Income Taxes | The components of the provision for income taxes are as follows: Tax expense (benefit): 2023 2022 Current $ — $ — Deferred — — Total provision (benefit) for income taxes $ — $ — | |
Schedule of Carrying Amount Of Assets And Liabilities For Financial Reporting | As of December 31, 2023, and 2022, the Company had temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and their respective income tax bases, measured by enacted state and federal tax rates, as follows: 2023 2022 Book Income (Loss) - Pre-Tax 29,317,000 9,358,000 Statutory rate $ 6,157,000 $ 1,967,000 State Tax Rate 1,274,000 407,000 Permanent and other items (43,000 ) 42,000 R&D Credit 357,000 427,000 Change in valuation allowance (7,745,000 ) (2,843,000 ) $ — $ — | |
Schedule of Reconciliation Of Tax Computed At The Statutory Rates To The Income Tax Provision Recognized | The following is a reconciliation of tax computed at the statutory rates to the income tax provision recognized in the consolidated financial statements for the years ended December 31: 2023 2022 Deferred tax assets (liabilities): Net operating loss carryforward $ 11,144,000 $ 9,539,000 Intangible assets 3,909,000 — Section 174 R&D 3,506,000 1,745,000 Accrued expenses 359,000 286,000 Basis differences (13,000 ) 26,000 Stock compensation expense 589,000 510,000 Research and development credit 1,808,000 1,451,000 Total deferred tax assets, net 21,302,000 13,557,000 Less valuation allowance (21,302,000 ) (13,557,000 ) Total net deferred tax assets $ — $ — |
Supplementary Statement of Ca_2
Supplementary Statement of Cash Flows Information (Tables) | 9 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Jun. 30, 2023 | |
Supplemental Cash Flow Elements [Abstract] | ||
Schedule of Supplementary Statement of Cash Flows Information | Nine months ended 2024 2023 Series C Preferred Stock common stock dividend (note 7) 173 362 Non-cash — 289 Equipment additions reclassified from prepaid expenses — 447 Income taxes paid — — Interest paid — — | Year Year Series C Preferred Stock common stock dividend (note 6) 362 2,462 Non-cash 289 683 Issue costs in accounts payable — 43 Equipment additions reclassified from prepaid expenses 447 — Conversion of Series C Preferred Stock to common stock (note 6) — 2,377 Income taxes paid — — Interest paid — — |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Risks and Uncertainties [Abstract] | |
Schedule of Balances in Foreign Currencies | Balances in foreign currencies at June 30, 2023, and 2022, were as follows: June 30, June 30, Trade payables 51 74 Cash 13 27 Interest, taxes, and other receivables 8 11 |
Schedule of Fair Value of Off-Balance Sheet Risks | Cash and Insured Non- 1,535 578 957 |
Commitments and contingencies (
Commitments and contingencies (Tables) - TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | |
Loss Contingencies [Line Items] | |||
Schedule of future minimum lease payments for operating leases | Future minimum lease payments under these leases are as follows: Year ending December 31, 2024 $ 128,090 Year ending December 31, 2025 172,931 Year ending December 31, 2026 43,411 Interest portion of right of use liability (33,556 ) Operating lease liabilities $ 310,876 | Future minimum lease payments under these leases are as follows: Year ending December 31, 2024 $ 21,002 Year ending December 31, 2025 — 21,002 Interest portion of right of use liability (182 ) Right of use lease liability $ 20,820 | |
Schedule of future minimum lease payments for operating leases under agreements | Future minimum payments under these employment and consulting agreements are as follows: Year ending December 31, 2024 $ 827,126 Year ending December 31, 2025 877,835 $ 1,704,961 | Future minimum payments under these employment and consulting agreements are as follows: Year ending December 31, 2024 683,000 Year ending December 31, 2025 499,000 $ 1,182,000 |
Nature of Operations, Corpora_2
Nature of Operations, Corporate History, and Going Concern and Management Plans - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 5 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Jun. 28, 2023 | Aug. 02, 2022 | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net loss | $ (2,011) | $ (3,264) | $ (5,996) | $ (11,314) | $ (14,649) | $ (22,661) | ||||
Negative cash flow from operations | (5,734) | $ (10,357) | (11,865) | (20,392) | ||||||
Cash and cash equivalents | 6,351 | $ 6,351 | 6,351 | 1,535 | 11,780 | |||||
Accumulated deficit | $ (157,550) | $ (157,550) | $ (157,550) | $ (151,375) | $ (136,356) | |||||
Net proceeds available under the stock purchase agreement | $ 2,008 | |||||||||
Proceeds from grant funding | $ 2,000 | |||||||||
Description of grant funding received | In addition, on June 28, 2023, the Company announced that it had been awarded approximately $2,000 in grant funding to be received over a two-year period for its REM-001 project. | In addition, on June 28, 2023, the Company announced that it had been awarded approximately $2.0 million in grant funding to be received over a two year period for its REM-001 project | ||||||||
Stock issued during period shares new issues | 662,000 | |||||||||
Substantial Doubt about Companys Ability to Continues Going Concern Period | 1 year | 1 year | ||||||||
Previously Reported [Member] | ||||||||||
Net proceeds available under the stock purchase agreement | $ 1,903 | |||||||||
ATM Facility [Member] | ||||||||||
Stock issued during period shares new issues | 45,138,000 | 8,013,000 | ||||||||
Number of shares issued in transaction | 53,151,000 | 53,151,000 | ||||||||
Sale of Stock, Consideration Received on Transaction | $ 10,471 | $ 10,471 |
Significant Accounting Polici_3
Significant Accounting Policies - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
May 31, 2023 USD ($) | Nov. 10, 2022 shares | Apr. 30, 2021 USD ($) | Mar. 31, 2024 USD ($) | Dec. 31, 2022 shares | Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 shares | Dec. 31, 2023 USD ($) | Jun. 30, 2023 USD ($) Segment shares | Dec. 31, 2022 | Jun. 30, 2022 shares | |
Significant Accounting Policies (Textual) | |||||||||||
Reverse stock split | 50 | ||||||||||
Reverse stock split, description | As a result of the Reverse Stock Split, every 50 shares of issued and outstanding common stock were converted into one share of common stock with a proportionate reduction in the Company’s authorized shares of common stock. | As a result of the Reverse Stock Split, every 50 shares of issued and outstanding common stock were converted into one share of common stock with a proportionate reduction in the Company’s authorized shares of common stock. | |||||||||
Reverse stock split, shares | shares | 50 | 15,000 | |||||||||
Additional uncertain tax provisions | $ 0 | ||||||||||
Number of reportable segments | Segment | 1 | ||||||||||
In-process research and development | $ 1,000 | ||||||||||
Minimum [Member] | |||||||||||
Significant Accounting Policies (Textual) | |||||||||||
Property and equipment useful life | 3 years | ||||||||||
Maximum [Member] | |||||||||||
Significant Accounting Policies (Textual) | |||||||||||
Property and equipment useful life | 7 years | ||||||||||
Restricted Stock Units [Member] | |||||||||||
Significant Accounting Policies (Textual) | |||||||||||
Anti-dilutive warrants, stock options, performance stock units, and convertible preferred shares related to outstanding | shares | 66,000 | 18,000 | 78,000 | 0 | |||||||
Series C Preferred Share Warrants [Member] | |||||||||||
Significant Accounting Policies (Textual) | |||||||||||
Anti-dilutive warrants, stock options, performance stock units, and convertible preferred shares related to outstanding | shares | 42,000 | 42,000 | 42,000 | 42,000 | |||||||
Series C Convertible Preferred Shares [Member] | |||||||||||
Significant Accounting Policies (Textual) | |||||||||||
Anti-dilutive warrants, stock options, performance stock units, and convertible preferred shares related to outstanding | shares | 235,000 | 245,000 | 245,000 | 290,000 | |||||||
Stock options [Member] | |||||||||||
Significant Accounting Policies (Textual) | |||||||||||
Anti-dilutive warrants, stock options, performance stock units, and convertible preferred shares related to outstanding | shares | 222,000 | 198,000 | 198,000 | 176,000 | |||||||
Warrant [Member] | |||||||||||
Significant Accounting Policies (Textual) | |||||||||||
Anti-dilutive warrants, stock options, performance stock units, and convertible preferred shares related to outstanding | shares | 693,000 | 713,000 | 713,000 | 720,000 | |||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||||||||
Significant Accounting Policies (Textual) | |||||||||||
Property, plant and equipment impairment or disposal disclosure | No | No | No | ||||||||
Grant received from department of health and human services | $ 400,000 | ||||||||||
Final Grant Received From Department Of Health And Human Services | $ 42,000 | ||||||||||
Cash balance of federal deposit insurance corporation | $ 250,000 | $ 250,000 | $ 250,000 | ||||||||
Uninsured Portion Of Cash | $ 3,960,000 | $ 3,960,000 | $ 3,220,000 | ||||||||
Discount rate of probability weighted expected return method | 19.68% | 19.68% | 21.80% | ||||||||
Deferred offering costs | $ 284,867 | $ 284,867 | $ 0 |
Liquidity And Management's Pl_2
Liquidity And Management's Plans - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
Liquidity And Management Plans [Line Items] | ||||||||
Net cash provided by (used in) operating activities | $ (5,734,000) | $ (10,357,000) | $ (11,865,000) | $ (20,392,000) | ||||
Cash and cash equivalents | $ 6,351,000 | 6,351,000 | $ 1,535,000 | $ 11,780,000 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||||||
Liquidity And Management Plans [Line Items] | ||||||||
Net cash provided by (used in) operating activities | (3,834,245) | $ (3,232,788) | $ (11,950,856) | $ (7,508,259) | ||||
Cash and cash equivalents | 4,461,490 | 4,461,490 | 3,665,032 | $ 14,252,518 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Convertible Promissory Notes [Member] | ||||||||
Liquidity And Management Plans [Line Items] | ||||||||
Expeted Amount To be Raised Frpm Debt Instrument | $ 23,665,000 | $ 23,665,000 | $ 4,903,000 |
Milestone payment liability - A
Milestone payment liability - Additional Information (Details) $ in Thousands | 12 Months Ended |
Jun. 30, 2023 USD ($) | |
Phase 2B Clinical Study [Member] | |
Business Acquisition Equity Interests Issued Or Issuable [Line Items] | |
Cash or equivalent to common stock | $ 300 |
Contingent amounts payable to St. Cloud | 240 |
Cash paid to employees | 60 |
REM-001 Therapy [Member] | |
Business Acquisition Equity Interests Issued Or Issuable [Line Items] | |
Cash or equivalent to common stock | 700 |
Contingent amounts payable to St. Cloud | 560 |
Cash paid to employees | $ 140 |
Milestone payment liability - S
Milestone payment liability - Schedule of Milestone Payment Liability (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | |
Business Combinations [Abstract] | |||
Balance | $ 166 | $ 163 | $ 182 |
Change in fair value estimate | 17 | 3 | (19) |
Balance | $ 183 | $ 166 | $ 163 |
Clinical Trial Deposit - Additi
Clinical Trial Deposit - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
Clinical Trial Deposit [Line Items] | ||||||
Patient enrollment milestones, payments | $ 5,065 | |||||
Clinical trial deposit payments | $ 196 | 1,700 | ||||
Clinical trial deposit expense | 3,225 | |||||
Deposits payments | 1,075 | $ 1,075 | ||||
Patient enrollment milestones, payments (recovery) | $ (512) | $ 1,075 | 563 | $ 3,990 | $ 8,163 | |
Contract Research Organization Termination Cost | $ 1,000 |
Property and Equipment, Net - S
Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
Property, Plant and Equipment [Line Items] | ||||||||
Beginning Balance | $ 709,000 | $ 90,000 | $ 90,000 | $ 150,000 | ||||
Additions | 20,000 | 679,000 | ||||||
Less depreciation and amortization | (60,000) | (60,000) | ||||||
Depreciation | (38,000) | $ (45,000) | (60,000) | (60,000) | ||||
Ending Balance | $ 691,000 | 691,000 | $ 709,000 | $ 90,000 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Beginning Balance | 182,170 | $ 280,323 | $ 280,323 | |||||
Depreciation | (34,000) | $ (61,000) | (177,000,000) | $ (373,000,000) | ||||
Property plant and equipment gross | 2,152,907 | 2,152,907 | 2,152,906 | 2,073,682 | ||||
Less accumulated depreciation and amortization | (2,005,044) | (2,005,044) | (1,970,736) | (1,793,359) | ||||
Ending Balance | 147,863 | 147,863 | 182,170 | 280,323 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Furniture and Fixtures [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property plant and equipment gross | 170,607 | 170,607 | 170,607 | 170,607 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Leasehold Improvements [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property plant and equipment gross | 544,629 | 544,629 | 544,628 | 544,628 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Machinery and office equipment [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property plant and equipment gross | 1,365,277 | 1,365,277 | 1,365,277 | 1,330,053 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Software [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property plant and equipment gross | $ 72,394 | $ 72,394 | $ 72,394 | $ 28,394 |
Property and Equipment, Net - A
Property and Equipment, Net - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
Property, Plant and Equipment [Line Items] | ||||||||
Capitalized cost of property and equipment | $ 879,000 | $ 859,000 | $ 180,000 | |||||
Capitalized cost of property and equipment not in use | $ 599,000 | 599,000 | 679,000 | |||||
Depreciation expense | $ 38,000 | $ 45,000 | $ 60,000 | $ 60,000 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Depreciation expense | $ 34,000 | $ 61,000 | $ 177,000,000 | $ 373,000,000 |
Accounts Payable And Accrued _3
Accounts Payable And Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 |
Payables And Accruals [Line Items] | |||||
Total | $ 1,243,000 | $ 2,784,000 | $ 3,269,000 | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||
Payables And Accruals [Line Items] | |||||
Trade accounts payable | 1,635,016 | $ 1,866,762 | $ 1,915,766 | ||
Accrued compensation | 1,707,988 | 1,415,397 | 675,000 | ||
Accrued legal fees | 466,801 | ||||
Accrued placement agent fees | 368,960 | 56,400 | |||
Other accrued expenses | 164,000 | 100,000 | |||
Other accrued expenses | 156,400 | 163,677 | |||
Total | $ 4,342,765 | $ 3,438,559 | $ 2,754,443 |
Convertible promissory notes -
Convertible promissory notes - Additional Information (Detail) - USD ($) | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 12 Months Ended |
Dec. 29, 2023 | Dec. 31, 2023 | Mar. 31, 2024 | Mar. 28, 2024 | Dec. 31, 2023 | |
Line of Credit Facility [Line Items] | |||||
Amortization of debt discount | $ 137,000 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Amortization of debt discount | $ 17,383 | $ 5,124 | |||
Debt instrument, unamortized discount | 365,092 | ||||
Gain (loss) on repurchase of debt instrument | 12,092 | ||||
Interest expense, debt | $ 255,152 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Mandatory Conversion Three [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Conversion price | $ 0.68 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Specified Merger Transaction [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Conversion price | $ 0.68 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Note Warrant [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt instrument, issued, principal | $ 4,000,000 | ||||
Conversion price | $ 0.68 | ||||
Percentage of debt instrument issued principal | 50% | ||||
Convertable Promissory Note [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt, Long-Term and Short-Term, Combined Amount | $ 2,685,000 | ||||
Debt Instrument, Interest Rate During Period | (20.00%) | ||||
Debt Instrument, Maturity Date, Description | second anniversary of the issuance date | ||||
Convertable Promissory Note [Member] | TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt, Long-Term and Short-Term, Combined Amount | $ 7,588,000 | ||||
Debt Instrument, Interest Rate During Period | 20% | ||||
Debt Instrument, Maturity Date, Description | second anniversary of the issuance date |
Other Current Assets - Summary
Other Current Assets - Summary of Other Current Assets (Detail) - TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 |
Other Current Assets [Line Items] | |||
Employee Retention Tax Credit | $ 334,443 | $ 334,443 | |
Deferred offering costs | 284,867 | 0 | |
Other current assets | 216,104 | 159,326 | |
Other Assets, Current | $ 835,414 | $ 493,769 | $ 491,774 |
Other Current Assets - Addition
Other Current Assets - Additional Information (Details) - TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Dec. 31, 2022 USD ($) |
Other Current Assets [Line Items] | |
Receivable with imputed interest, net amount | $ 100,000 |
Receivable with imputed interest, effective yield (interest rate) | 3% |
Financing Receivable, after Allowance for Credit Loss | $ 101,424 |
Negotiation fee paid | $ 200,000 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2014 | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Feb. 13, 2024 | Dec. 31, 2022 | |
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||
Dividends payable | $ 6 | $ 6 | $ 8 | $ 8 | |||||
Valent Assignment Agreement [Member] | |||||||||
Percentage of net sales | 5% | ||||||||
Related Party | |||||||||
Related party payables | $ 98 | $ 98 | 298 | $ 721 | |||||
Related Party | Previously Reported [Member] | |||||||||
Related party payables | $ 298 | $ 721 | |||||||
Preferred Stock Series A | |||||||||
Preferred Stock, shares issued | 279,000 | 279,000 | 279,000 | 279,000 | |||||
Preferred stock, rate of dividend | 3% | ||||||||
Valent Technologies LLC [Member] | |||||||||
Loan payable outstanding amount | $ 279 | ||||||||
Aggregate accrued interest | $ 29 | ||||||||
Dividends payable | $ 2 | $ 2 | $ 6 | $ 6 | $ 8 | $ 8 | |||
Valent Technologies LLC [Member] | Preferred Stock Series A | |||||||||
Preferred Stock, shares issued | 279 | ||||||||
Preferred stock, par value | $ 1 |
Stockholders' Equity - Schedule
Stockholders' Equity - Schedule of Issuance of Series C Preferred Stock (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | |
Class Of Stock [Line Items] | |||
Conversion of Series C Preferred stock to common stock | $ 2,377 | ||
Series C Preferred Stock | |||
Class Of Stock [Line Items] | |||
Beginning Balance | $ 10,366 | $ 12,275 | $ 14,652 |
Beginning Balance, shares | 14,208 | 16,838 | 20,092 |
Conversion of Series C Preferred stock to common stock | $ (393) | $ (1,909) | $ (2,377) |
Conversion of series C preferred stock to common stock, shares | (540) | (2,630) | (3,254) |
Ending Balance | $ 9,973 | $ 10,366 | $ 12,275 |
Ending Balance, shares | 13,668 | 14,208 | 16,838 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) | 1 Months Ended | 3 Months Ended | 5 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 18, 2023 USD ($) | Sep. 19, 2023 USD ($) | Aug. 19, 2023 USD ($) $ / shares | Jun. 01, 2023 USD ($) shares | Aug. 19, 2022 USD ($) $ / shares | Aug. 02, 2022 USD ($) $ / shares shares | Aug. 01, 2022 USD ($) shares | Apr. 14, 2022 USD ($) $ / shares shares | Sep. 28, 2021 USD ($) $ / shares shares | Aug. 19, 2021 | Aug. 31, 2020 $ / shares shares | Sep. 30, 2014 $ / shares shares | Mar. 31, 2024 USD ($) Vote $ / shares shares | Dec. 31, 2023 USD ($) Vote $ / shares shares | Mar. 31, 2023 USD ($) | Mar. 31, 2024 USD ($) Vote $ / shares shares | Dec. 31, 2023 USD ($) Vote $ / shares shares | Mar. 31, 2024 USD ($) Vote $ / shares shares | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) Vote $ / shares shares | Jun. 30, 2023 USD ($) $ / shares shares | Dec. 31, 2022 USD ($) shares | Jun. 30, 2022 USD ($) $ / shares shares | Jun. 29, 2023 shares | Jun. 20, 2022 $ / shares | |
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Stock issued during period shares new issues | 662,000 | ||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||||||
Common stock shares authorized | 75,000,000 | 75,000,000 | 75,000,000 | 75,000,000 | 5,500,000 | ||||||||||||||||||||
Underwritten public offering, description | the Company closed on the sale of 324 shares of its common stock, par value $0.001 per share, and common warrants to purchase an aggregate of 324 shares of common stock (“2022 April Investor Warrants”) in the Company’s registered direct offering (the “April Offering”). Each share of common stock was sold together with a 2022 April Investor Warrant to purchase one share of common stock at a combined effective price of $26.50 per share of common stock and accompanying 2022 April Investor Warrant. The 2022 April Investor Warrants have been valued at $3,898 and have been treated as equity. They have been valued using a Black-Scholes valuation with a risk-free rate of 0.54%, a contractual term of 5 years, a volatility of 109.4%, and a dividend rate of 0%. | the Company closed on the sale of (i) 144 shares of its common stock, par value $0.001 per share, (ii) pre-funded warrants (“PFW”) to purchase an aggregate of 96 shares of common stock and (iii) common warrants to purchase an aggregate of 240 shares of common stock (“2022 Investor Warrants”) in the Company’s registered direct offering (the “September Offering”). Each share of common stock, or PFW as applicable, was sold together with a 2022 Investor Warrant to purchase one share of common stock at a combined effective price of $62.50 per share of common stock and accompanying 2022 Investor Warrant. The 2022 Investor Warrants have been valued at $7,023 and have been treated as equity. They have been valued using a Black-Scholes valuation with a risk-free rate of 0.55%, a contractual term of 3.5 years, a volatility of 116.7%, and a dividend rate of 0%. | |||||||||||||||||||||||
Net proceeds | $ | $ 2,008,000 | ||||||||||||||||||||||||
Warrants exercise price | $ / shares | $ 0.001 | ||||||||||||||||||||||||
Common stock, shares issued | 55,305,000 | 55,305,000 | 55,305,000 | 1,692,000 | 1,311,000 | ||||||||||||||||||||
Warrants exercised for cash | $ | $ 74,000 | ||||||||||||||||||||||||
Common stock shares issued for services | 16 | ||||||||||||||||||||||||
Value of common stock shares for services | $ | $ 110,000 | ||||||||||||||||||||||||
Issuance of restricted stock units | 89,000 | 78,000 | 79,000 | ||||||||||||||||||||||
Stock option exercise price | $ / shares | $ 32.92 | $ 51.71 | |||||||||||||||||||||||
Weighted average contractual term | 8 years 9 months 3 days | 9 years 10 days | 8 years 9 months 29 days | 9 years 2 months 8 days | |||||||||||||||||||||
Total expense for restricted stock units issuance | $ | $ 136,000 | $ 164,000 | |||||||||||||||||||||||
Share issuance costs | $ | $ 43,000 | ||||||||||||||||||||||||
Stock-based compensation expense | $ | $ 156,000 | $ 290,000 | $ 481,000 | 1,244,000 | $ 1,490,000 | $ 2,248,000 | |||||||||||||||||||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | ||||||||||||||||||||
Purchase Agreement [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 10.12 | ||||||||||||||||||||||||
Stock issued during period shares new issues | 33,000 | ||||||||||||||||||||||||
Net proceeds | $ | $ 1,860,000 | $ 1,903,000 | |||||||||||||||||||||||
Common stock, shares issued | 229,000 | 229,000 | 229,000 | 229 | |||||||||||||||||||||
Maximum committed purchase obligation | $ | $ 2,000,000 | ||||||||||||||||||||||||
Aggregate number of shares sell | 262,000 | ||||||||||||||||||||||||
Percentage of aggregate number of shares sell | 19.99% | 20% | |||||||||||||||||||||||
Maximum [Member] | Purchase Agreement [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Amount of purchase common stock issued | $ | $ 20,000,000 | ||||||||||||||||||||||||
2017 Omnibus Incentive Plan [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Common stock, shares issued | 440,000 | 440,000 | 440,000 | 440 | |||||||||||||||||||||
Percentage of fully diluted shares of common stock | 8% | 8% | |||||||||||||||||||||||
Two Thousand And Seventeen Omnibus Incentive Plan | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Stock option vesting description | All of the options to purchase shares of common stock granted have a 10-year term and are subject to cancellation upon the grantees’ termination of service for the Company, with certain exceptions. | vest in 12 equal monthly installments beginning on August 1, 2022, while 64 stock options granted have an exercise price of $8.785 per share and vest as to 25% on August 1, 2023, with the remaining portion vesting in equal monthly installments over a period of 36 months commencing on September 1, 2023. All of the options to purchase shares of common stock granted have a 10-year term and are subject to cancellation upon the grantees’ termination of service for the Company, with certain exceptions. | |||||||||||||||||||||||
Stock option term | 10 years | 10 years | |||||||||||||||||||||||
Two Thousand And Seventeen Omnibus Incentive Plan | Exercise Price of 12.75 [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Issuance of restricted stock units | 70,000 | ||||||||||||||||||||||||
Stock options exercise price | $ / shares | $ 12.75 | ||||||||||||||||||||||||
Two Thousand And Seventeen Omnibus Incentive Plan | Exercise Price of 8.785 [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Stock option exercise price | $ / shares | $ 8.785 | ||||||||||||||||||||||||
Stock options [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Risk-free interest rate | 4.24% | 2.67% | 1.18% | ||||||||||||||||||||||
Expected term | 6 years 29 days | 6 years 1 month 6 days | 6 years | ||||||||||||||||||||||
Volatility rate | 91.40% | 91.40% | 91.70% | ||||||||||||||||||||||
Issuance of restricted stock units | 89,000 | 89,000 | 78,000 | 79,000 | |||||||||||||||||||||
Stock options exercise price | $ / shares | $ 4.655 | $ 4.655 | $ 4.655 | ||||||||||||||||||||||
Aggregate intrinsic value of stock options outstanding | $ | $ 0 | $ 0 | |||||||||||||||||||||||
Aggregate intrinsic value of stock options exercisable | $ | $ 0 | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | ||||||||||||||||||
Unrecognized compensation expense | $ | 447,000 | 447,000 | $ 447,000 | $ 812,000 | |||||||||||||||||||||
Unrecognized compensation expense, term | 2 years 2 months 12 days | 2 years 6 months 18 days | |||||||||||||||||||||||
Aggregate intrinsic value of unvested stock options | $ | $ 0 | 0 | $ 0 | 0 | |||||||||||||||||||||
Stock options [Member] | Tranche One [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Issuance of restricted stock units | 26,000 | ||||||||||||||||||||||||
Stock option commencing date, description | The 26 options granted to non-employee directors vest pro rata monthly over 12 months commencing on March 31, 2024. | ||||||||||||||||||||||||
Stock options [Member] | Tranche Two [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Issuance of restricted stock units | 63,000 | ||||||||||||||||||||||||
Vesting rights, percentage | 25% | ||||||||||||||||||||||||
Restricted Stock Units [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Stock issued during period shares new issues | 4,000 | ||||||||||||||||||||||||
Issuance of restricted stock units | 0 | 78,000 | |||||||||||||||||||||||
Total expense for restricted stock units issuance | $ | $ 186,000 | $ 155,000 | |||||||||||||||||||||||
Vesting period | 1 year | 4 years | |||||||||||||||||||||||
Vested number | 0 | ||||||||||||||||||||||||
Amount recognized related to RSU | $ | $ 90,000 | $ 0 | |||||||||||||||||||||||
Stock-based compensation expense | $ | $ 136,000 | 54,000 | |||||||||||||||||||||||
Regular Purchase [Member] | Purchase Agreement [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Stock issued during period shares new issues | 10,000 | ||||||||||||||||||||||||
Common stock | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Common stock shares authorized | 75,000,000 | 5,500,000 | |||||||||||||||||||||||
Issued warrants to underwriters | 324 | ||||||||||||||||||||||||
Warrants exercise price | $ / shares | $ 0.001 | ||||||||||||||||||||||||
Pre-Funded Warrants | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Issued warrants to underwriters | 96 | ||||||||||||||||||||||||
Warrants exercise price | $ / shares | $ 0.05 | ||||||||||||||||||||||||
Number | 96 | ||||||||||||||||||||||||
Warrants exercised for cash | $ | $ 4,800 | ||||||||||||||||||||||||
2022 Investor Warrant [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 62.5 | ||||||||||||||||||||||||
Issued warrants to underwriters | 240 | ||||||||||||||||||||||||
Value of outstanding warrants | $ | $ 7,023,000 | ||||||||||||||||||||||||
Risk-free interest rate | 0.55% | ||||||||||||||||||||||||
Expected term | 3 years 6 months | ||||||||||||||||||||||||
Volatility rate | 116.70% | ||||||||||||||||||||||||
Dividend rate | 0% | ||||||||||||||||||||||||
Warrants exercise price | $ / shares | $ 62.5 | ||||||||||||||||||||||||
Other Underwriting Expense | $ | $ 13,634,000 | ||||||||||||||||||||||||
Expiry date | Mar. 28, 2025 | ||||||||||||||||||||||||
2022 April Investor Warrant [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 26.5 | ||||||||||||||||||||||||
Issued warrants to underwriters | 324 | ||||||||||||||||||||||||
Value of outstanding warrants | $ | $ 3,898,000 | ||||||||||||||||||||||||
Risk-free interest rate | 0.54% | ||||||||||||||||||||||||
Expected term | 5 years | ||||||||||||||||||||||||
Volatility rate | 109.40% | ||||||||||||||||||||||||
Dividend rate | 0% | ||||||||||||||||||||||||
Warrants exercise price | $ / shares | $ 20.5 | ||||||||||||||||||||||||
Other Underwriting Expense | $ | $ 7,900,000 | ||||||||||||||||||||||||
Expiry date | Apr. 14, 2027 | ||||||||||||||||||||||||
Executive Officers and Directors | Two Thousand And Seventeen Omnibus Incentive Plan | Exercise Price of 12.75 [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Issuance of restricted stock units | 6,000 | ||||||||||||||||||||||||
Executive Officers and Directors | 2017 Omnibus Incentive Plan [Member] | Exercise Price of 8.785 [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Issuance of restricted stock units | 64,000 | ||||||||||||||||||||||||
Officers [Member] | Restricted Stock Units [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Stock issued during period shares new issues | 60,000 | 18,000 | |||||||||||||||||||||||
Stock option commencing date, description | Subject to providing continuous service to the Company, the RSUs all fully vest on June 1, 2024. | Subject to providing continuous service to the Company, the RSUs vest in four equal annual installments commencing August 1, 2023 | |||||||||||||||||||||||
Series C Preferred Stock | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Dividends, Preferred Stock | $ | $ 49,000 | $ 43,000 | |||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 3.53 | $ 8.34 | |||||||||||||||||||||||
Preferred stock | $ | $ 173,000 | $ 362,000 | 9,973,000 | 9,973,000 | 9,973,000 | $ 10,366,000 | 12,275,000 | ||||||||||||||||||
Liquidation value | $ | $ 9,973,000 | $ 9,973,000 | $ 9,973,000 | $ 10,366,000 | $ 12,275,000 | ||||||||||||||||||||
Preferred Stock, shares issued | 14,000 | 14,000 | 14,000 | 14,000 | 17,000 | ||||||||||||||||||||
Number | 13,668,000 | 13,668,000 | 13,668,000 | 14,208,000 | |||||||||||||||||||||
Series C-1 Preferred Shares [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Conversion price | $ / shares | $ 58 | $ 58 | $ 58 | $ 58 | |||||||||||||||||||||
Number | 10,925,000 | 10,925,000 | 10,925,000 | 11,415,000 | |||||||||||||||||||||
Series C-2 Preferred Shares [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Conversion price | $ / shares | $ 60.7 | $ 60.7 | $ 60.7 | $ 60.7 | |||||||||||||||||||||
Number | 898,000 | 898,000 | 898,000 | 898,000 | |||||||||||||||||||||
Preferred Stock Series A | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Preferred stock | $ | $ 279,000 | $ 279,000 | $ 279,000 | $ 279,000 | $ 279,000 | ||||||||||||||||||||
Preferred stock, rate of dividend | 3% | ||||||||||||||||||||||||
Liquidation value | $ | $ 279,000 | $ 279,000 | $ 279,000 | $ 279,000 | $ 279,000 | ||||||||||||||||||||
Preferred Stock, shares issued | 279,000 | 279,000 | 279,000 | 279,000 | 279,000 | ||||||||||||||||||||
Change in preferred stock | $ | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||||||||||||||
Preferred Stock Series A | Exchange Agreement [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Preferred stock, rate of dividend | 3% | ||||||||||||||||||||||||
Preferred Stock, shares issued | 279,000 | ||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 1 | ||||||||||||||||||||||||
Series C-3 Preferred Shares | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Conversion price | $ / shares | $ 57.5 | $ 57.5 | $ 57.5 | $ 57.5 | |||||||||||||||||||||
Number | 1,845,000 | 1,845,000 | 1,845,000 | 1,895,000 | |||||||||||||||||||||
Private Placement [Member] | Series C Preferred Stock Warrants [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Shares issued of common stock for services | 2,504,000 | 2,504,000 | |||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | |||||||||||||||||||||
Registered direct financing [Member] | Pre-Funded Warrants | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Warrants exercise price | $ / shares | $ 0.05 | ||||||||||||||||||||||||
Registered direct financing [Member] | 2022 April Investor Warrant [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Risk-free interest rate | 0.54% | ||||||||||||||||||||||||
Expected term | 4 years 6 months | ||||||||||||||||||||||||
Volatility rate | 112.30% | ||||||||||||||||||||||||
Dividend rate | 0% | ||||||||||||||||||||||||
Warrants exercise price | $ / shares | $ 33.13 | ||||||||||||||||||||||||
Non cash issue of common stock | 350 | ||||||||||||||||||||||||
Number | 32 | ||||||||||||||||||||||||
Underwriter warrants commencing date | Oct. 14, 2026 | ||||||||||||||||||||||||
Registered direct financing [Member] | 2022 Agent Warrants [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Risk-free interest rate | 0.55% | ||||||||||||||||||||||||
Expected term | 3 years 6 months | ||||||||||||||||||||||||
Volatility rate | 116.70% | ||||||||||||||||||||||||
Dividend rate | 0% | ||||||||||||||||||||||||
Warrants exercise price | $ / shares | $ 78.13 | ||||||||||||||||||||||||
Non cash issue of common stock | 333 | ||||||||||||||||||||||||
Expiry date | Sep. 28, 2021 | ||||||||||||||||||||||||
Number | 12 | ||||||||||||||||||||||||
Underwriter warrants commencing date | Mar. 28, 2025 | ||||||||||||||||||||||||
ATM Facility [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 0.21 | $ 0.21 | $ 0.21 | ||||||||||||||||||||||
Stock issued during period shares new issues | 45,138,000 | 8,013,000 | |||||||||||||||||||||||
Amount of purchase common stock issued | $ | $ 7,892,000 | $ 2,579,000 | |||||||||||||||||||||||
Aggregate number of shares sell | 53,151,000 | 53,151,000 | |||||||||||||||||||||||
Share issuance costs | $ | $ 435,000 | ||||||||||||||||||||||||
Sales agreement aggregate offering price | $ | $ 10,900,000 | $ 2,850,000 | |||||||||||||||||||||||
Net proceeds | $ | $ 10,471,000 | $ 10,471,000 | |||||||||||||||||||||||
ATM Facility [Member] | Sales Agreement [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Selling commission rate per shares sold percentage | 3% | ||||||||||||||||||||||||
ATM Facility [Member] | Common stock | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Amount of purchase common stock issued | $ | $ 45,000 | 8,000 | |||||||||||||||||||||||
ATM Facility [Member] | 2022 April Investor Warrant [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Expiry date | Oct. 14, 2022 | ||||||||||||||||||||||||
Lincoln Park [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 0.23 | $ 0.23 | $ 0.23 | ||||||||||||||||||||||
Aggregate number of shares sell | 400,000 | ||||||||||||||||||||||||
Net proceeds | $ | $ 105,000 | ||||||||||||||||||||||||
Merger Agreement [Member] | Series C Preferred Stock | First Anniversary [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Common stock dividends percentage | 10% | ||||||||||||||||||||||||
Merger Agreement [Member] | Series C Preferred Stock | Second Anniversary [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Common stock dividends percentage | 15% | ||||||||||||||||||||||||
Merger Agreement [Member] | Series C Preferred Stock | Third Anniversary [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Common stock dividends percentage | 20% | ||||||||||||||||||||||||
Merger Agreement [Member] | Private Placement [Member] | Series C Preferred Stock | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Shares issued of common stock for services | 25,028,000 | ||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 1,000 | ||||||||||||||||||||||||
Merger Agreement [Member] | Private Placement [Member] | Series C Preferred Stock | First Anniversary [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Common stock dividends percentage | 10% | 10% | |||||||||||||||||||||||
Merger Agreement [Member] | Private Placement [Member] | Series C Preferred Stock | Second Anniversary [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Common stock dividends percentage | 15% | 15% | |||||||||||||||||||||||
Merger Agreement [Member] | Private Placement [Member] | Series C Preferred Stock | Third Anniversary [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Common stock dividends percentage | 20% | 20% | |||||||||||||||||||||||
Merger Agreement [Member] | Private Placement [Member] | Series C Preferred Stock | Fourth Anniversary [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Common stock dividends percentage | 25% | 25% | |||||||||||||||||||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Preferred stock | $ | $ 8,056 | 8,056 | $ 8,056 | $ 8,056 | $ 8,056 | $ 8,056 | $ 8,062 | ||||||||||||||||||
Stock issued during period shares new issues | 16,601,000 | ||||||||||||||||||||||||
Value of outstanding warrants | $ | $ 45,186,000 | $ 45,186,000 | $ 45,186,000 | $ 45,186,000 | $ 45,186,000 | $ 45,186,000 | |||||||||||||||||||
Expected term | 4 years 10 months 24 days | 4 years 10 months 24 days | 4 years 10 months 24 days | ||||||||||||||||||||||
Dividend rate | 0% | 0% | 0% | ||||||||||||||||||||||
Issuance of restricted stock units | 4,638,471 | 1,711,350 | 1,440,000 | ||||||||||||||||||||||
Stock options exercise price | $ / shares | $ 0.53 | $ 0.52 | $ 0.53 | $ 0.52 | $ 0.53 | $ 0.52 | |||||||||||||||||||
Stock option exercise price | $ / shares | $ 0.5 | ||||||||||||||||||||||||
Number of voting rights for each common stock held | Vote | 1 | 1 | 1 | 1 | 1 | 1 | |||||||||||||||||||
Common stock, voting rights | Holders of common stock are entitled to one vote for each share of common stock. | Holders of common stock are entitled to one vote for each share of common stock. | |||||||||||||||||||||||
Preferred stock, shares authorized | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 | |||||||||||||||||||
Maximum debt issuance during the period | $ | $ 250,000 | $ 250,000 | |||||||||||||||||||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Service | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Value of outstanding warrants | $ | 8,579,000 | $ 8,579,000 | $ 8,579,000 | $ 8,579,000 | $ 8,579,000 | $ 8,579,000 | |||||||||||||||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Series B Preferred Stock | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Preferred stock, per share amounts of preferred dividends in arrears | $ / shares | $ 0.066 | ||||||||||||||||||||||||
Preferred stock, amount of preferred dividends in arrears | $ | $ 4,221,000 | $ 3,594,000 | |||||||||||||||||||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Series B Preferred Stock | First Two Years [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Preferred stock, per share amounts of preferred dividends in arrears | $ / shares | $ 0.066 | $ 0.0264 | |||||||||||||||||||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Series B Preferred Stock | After Two Years [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Preferred stock, per share amounts of preferred dividends in arrears | $ / shares | 0.0264 | ||||||||||||||||||||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Preferred Stock Series A | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Preferred stock, per share amounts of preferred dividends in arrears | $ / shares | 0.0208 | 0.0208 | |||||||||||||||||||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Series A-1 preferred stock | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Preferred stock, per share amounts of preferred dividends in arrears | $ / shares | $ 0.0264 | $ 0.0264 | |||||||||||||||||||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Series A And A-1 Preferred Stock | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Preferred stock, amount of preferred dividends in arrears | $ | $ 5,889,000 | ||||||||||||||||||||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Series A And A-1 Preferred Stock | After Two Years [Member] | |||||||||||||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||||||||||||
Preferred stock, amount of preferred dividends in arrears | $ | $ 5,570,000 |
Stockholders' Equity - Schedu_2
Stockholders' Equity - Schedule of Series C Preferred Stock Outstanding, Conversion Shares and Aggregate Dividends (Detail) - $ / shares shares in Thousands | 9 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Jun. 30, 2023 | |
Series C-1 Preferred Shares [Member] | ||
Class Of Stock [Line Items] | ||
Number | 10,925 | 11,415 |
Conversion price | $ 58 | $ 58 |
Number of conversion shares (in thousands) | 188 | 197 |
Dividend Shares (in thousands) | 151 | 153 |
Series C-2 Preferred Shares [Member] | ||
Class Of Stock [Line Items] | ||
Number | 898 | 898 |
Conversion price | $ 60.7 | $ 60.7 |
Number of conversion shares (in thousands) | 15 | 15 |
Dividend Shares (in thousands) | 10 | 10 |
Series C-3 Preferred Shares | ||
Class Of Stock [Line Items] | ||
Number | 1,845 | 1,895 |
Conversion price | $ 57.5 | $ 57.5 |
Number of conversion shares (in thousands) | 32 | 33 |
Dividend Shares (in thousands) | 24 | 25 |
Series C Preferred Stock | ||
Class Of Stock [Line Items] | ||
Number | 13,668 | 14,208 |
Number of conversion shares (in thousands) | 235 | 245 |
Dividend Shares (in thousands) | 185 | 188 |
Series C Preferred Stock | 10% - August 19, 2021 [Member] | ||
Class Of Stock [Line Items] | ||
Dividend Shares (in thousands) | 34 | 34 |
Series C Preferred Stock | 15% - August 19, 2022 [Member] | ||
Class Of Stock [Line Items] | ||
Dividend Shares (in thousands) | 43 | 43 |
Series C Preferred Stock | 20% - August 19, 2023 [Member] | ||
Class Of Stock [Line Items] | ||
Dividend Shares (in thousands) | 49 | 49 |
Series C Preferred Stock | 25% - August 19, 2024 [Member] | ||
Class Of Stock [Line Items] | ||
Dividend Shares (in thousands) | 59 | 62 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Aggregate Information on all Equity Compensation Plans (Details) - $ / shares shares in Thousands | 9 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Jun. 30, 2023 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of shares of common stock to be issued upon exercise of outstanding stock options and rights | 222 | 276 |
Weighted-average exercise price of stock options and rights | $ 32.92 | $ 51.71 |
Number of shares of common stock remaining available for future issuance under equity compensation plans | 144 | 160 |
Equity Compensation Plans Approved by Security Holders - 2017 Plan [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of shares of common stock to be issued upon exercise of outstanding stock options and rights | 222 | 275 |
Weighted-average exercise price of stock options and rights | $ 21.4 | $ 34.72 |
Number of shares of common stock remaining available for future issuance under equity compensation plans | 144 | 160 |
Equity Compensation Plans Not Approved by Security Holders - Del Mar (BC) 2013 Amended and Restated Stock Option Plan [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of shares of common stock to be issued upon exercise of outstanding stock options and rights | 0 | 1 |
Weighted-average exercise price of stock options and rights | $ 2,060.08 | $ 2,160.1 |
Stockholders' Equity - Summar_2
Stockholders' Equity - Summary of Aggregate Information on all Equity Compensation Plans (Parenthetical) (Details) - shares | Mar. 31, 2024 | Jun. 30, 2023 |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of shares of common stock remaining available for future issuance under equity compensation plans | 144,000 | 160,000 |
Omnibus Incentive Plan [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of shares of common stock remaining available for future issuance under equity compensation plans | 144,000 | 161 |
Stockholders' Equity - Schedu_3
Stockholders' Equity - Schedule of Outstanding Under the Legacy Plan (Detail) - $ / shares | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of options, Outstanding | 198,000 | 198,000 | |||
Number of options, Granted | 89,000 | 78,000 | 79,000 | ||
Number of options, Outstanding | 222,000 | 222,000 | 198,000 | ||
Stock options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of options, Outstanding | 222,000 | 198,000 | 198,000 | 176,000 | 128,000 |
Number of options, Granted | 89,000 | 89,000 | 78,000 | 79,000 | |
Expired | (34,000) | (56,000) | (6,000) | ||
Forfeited | (31,000) | (25,000) | |||
Number of options, Outstanding | 222,000 | 198,000 | 176,000 | ||
Weighted Average Exercise Price, Outstanding | $ 30.7 | $ 51.71 | $ 51.71 | $ 87.05 | $ 112.84 |
Granted | 4.66 | 8.79 | 49.46 | ||
Expired | 107.69 | 102.65 | 151.19 | ||
Forfeited | 8.26 | 83.76 | |||
Weighted Average Exercise Price, Outstanding | $ 30.7 | $ 51.71 | $ 87.05 |
Stockholders' Equity - Summar_3
Stockholders' Equity - Summary of Stock Options Outstanding and Exercisable (Detail) - $ / shares | 9 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Jun. 30, 2023 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of stock options outstanding | 222,000 | 198,000 |
Stock options exercisable | 102,000 | 80,000 |
Exercise Price One [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 4.66 | $ 6.04 |
Number of stock options outstanding | 79,000 | 9,000 |
Weighted average remaining contractual life (years) | 9 years 5 months 1 day | 9 years 7 months 20 days |
Stock options exercisable | 15,000 | |
Exercise Price Two [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 6.04 | $ 8.79 |
Number of stock options outstanding | 9,000 | 64,000 |
Weighted average remaining contractual life (years) | 8 years 10 months 20 days | 9 years 1 month 6 days |
Stock options exercisable | 2,000 | |
Exercise Price Three [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 8.79 | |
Number of stock options outstanding | 34,000 | 6,000 |
Weighted average remaining contractual life (years) | 8 years 4 months 2 days | 9 years 3 months 18 days |
Stock options exercisable | 14,000 | 6,000 |
Exercise Price Three [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 12.75 | |
Exercise Price Three [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 16.25 | |
Exercise Price Four [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of stock options outstanding | 6,000 | 83,000 |
Weighted average remaining contractual life (years) | 8 years 6 months 10 days | 8 years 3 days |
Stock options exercisable | 6,000 | 40,000 |
Exercise Price Four [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 12.75 | $ 30.5 |
Exercise Price Four [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 16.25 | $ 48 |
Exercise Price Five [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of stock options outstanding | 73,000 | 14,000 |
Weighted average remaining contractual life (years) | 7 years 6 months 21 days | 7 years 10 months 20 days |
Stock options exercisable | 44,000 | 13,000 |
Exercise Price Five [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 30.5 | $ 62 |
Exercise Price Five [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 48 | 68.5 |
Exercise Price Six [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 85 | |
Number of stock options outstanding | 13,000 | 21,000 |
Weighted average remaining contractual life (years) | 7 years 21 days | 7 years 2 months 19 days |
Stock options exercisable | 13,000 | 20,000 |
Exercise Price Six [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 62 | |
Exercise Price Six [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | 68.5 | |
Exercise Price Seven [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 85 | |
Number of stock options outstanding | 7,000 | 1,000 |
Weighted average remaining contractual life (years) | 6 years 5 months 15 days | 2 years 5 months 23 days |
Stock options exercisable | 7,000 | 1,000 |
Exercise Price Seven [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 1,055 | |
Exercise Price Seven [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 2,660 | |
Exercise Price Eight [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of stock options outstanding | 1,000 | |
Weighted average remaining contractual life (years) | 2 years 1 month 9 days | |
Stock options exercisable | 1,000 | |
Exercise Price Eight [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 304.95 | |
Exercise Price Eight [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise price | $ 2,660 |
Stockholders' Equity - Schedu_4
Stockholders' Equity - Schedule of Valuation Assumptions Using a Black-Scholes Pricing Model (Detail) - Stock options [Member] | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Volatility rate | 91.40% | 91.40% | 91.70% |
Risk-free interest rate | 4.24% | 2.67% | 1.18% |
Expected term | 6 years 29 days | 6 years 1 month 6 days | 6 years |
Stockholders' Equity - Schedu_5
Stockholders' Equity - Schedule of Stock Option Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock-based compensation expense | $ 156 | $ 290 | $ 481 | $ 1,244 | $ 1,490 | $ 2,248 |
Research and Development [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock-based compensation expense | 50 | 94 | 143 | 368 | 451 | 601 |
General and Administrative [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock-based compensation expense | $ 106 | $ 196 | $ 338 | $ 876 | $ 1,039 | $ 1,647 |
Stockholders' Equity - Schedu_6
Stockholders' Equity - Schedule of Unvested Stock Options (Detail) - $ / shares | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | |
Equity [Abstract] | |||
Beginning balance | 118,000 | 84,000 | 77,000 |
Number of options, Granted | 89,000 | 78,000 | 79,000 |
Vesting of restricted stock units | (56,000) | (44,000) | (48,000) |
Forfeiture of restricted stock units | (31,000) | (24,000) | |
Ending balance | 120,000 | 118,000 | 84,000 |
Beginning balance | $ 24.12 | $ 51.23 | $ 80.18 |
Granted | 4.66 | 8.79 | 49.46 |
Vested | 19.31 | 48.53 | 78.23 |
Forfeited | 8.26 | 83.76 | |
Ending balance | $ 16.07 | $ 24.12 | $ 51.23 |
Stockholders' Equity - Schedu_7
Stockholders' Equity - Schedule of Restricted Stock Units (Details) - shares | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward] | |||
Beginning balance | 118,000 | 84,000 | 77,000 |
Issuance of restricted stock units | 89,000 | 78,000 | 79,000 |
Forfeiture of restricted stock units | (31,000) | (24,000) | |
Ending balance | 120,000 | 118,000 | 84,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest [Abstract] | |||
Vesting of restricted stock units | (56,000) | (44,000) | (48,000) |
Restricted Stock Units [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward] | |||
Beginning balance | 78,000 | 0 | |
Issuance of restricted stock units | 0 | 78,000 | |
Forfeiture of restricted stock units | (8,000) | ||
Ending balance | 66,000 | 78,000 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest [Abstract] | |||
Beginning balance, Number of RSU vested | 0 | 0 | |
Vesting of restricted stock units | (4,000) | 0 | |
Ending balance, Number of RSU vested | 0 | 0 |
Stockholders' Equity - Schedu_8
Stockholders' Equity - Schedule of Warrants (Detail) - $ / shares | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | |
Stock option exercise price | $ 32.92 | $ 51.71 | |
Warrant [Member] | |||
Balance - June 30, 2023 | 713,000 | 720,000 | 139,000 |
Weighted Average Exercise Price, Outstanding | $ 43.55 | $ 49.36 | $ 167.21 |
Issuance of 2022 Investor Warrants | 240,000 | ||
Issuance of 2022 Investor Warrants | $ 62.5 | ||
Issuance of PFW | 96,000 | ||
Issuance of PFW | $ 0.05 | ||
Issuance of 2022 Agent Warrants | 12,000 | ||
Issuance of 2022 Agent Warrants | $ 78.13 | ||
Issuance of 2022 April Investor Warrants | 324,000 | ||
Issuance of 2022 April Investor Warrants | $ 20.5 | ||
Issuance of 2022 April Agent Warrants | 32,000 | ||
Issuance of 2022 April Agent Warrants | $ 33.13 | ||
Exercise of PFW | (96,000) | ||
Exercise of PFW | $ 0.05 | ||
Exercise of 2020 Investor Warrants | (1,000) | ||
Stock option exercise price | $ 50 | ||
Expiry of warrants | (26,000) | ||
Expired | $ 427.51 | ||
Balance - Decemberr 31, 2023 | 713,000 | 720,000 | |
Weighted Average Exercise Price, Outstanding | $ 43.55 | $ 49.36 | |
Warrant [Member] | 2018 Investor and Agent Warrants [Member] | |||
Expiry of warrants | (7,000) | ||
Expired | $ 625.68 | ||
Common Stock Warrants [Member] | |||
Balance - June 30, 2023 | 713,000 | ||
Weighted Average Exercise Price, Outstanding | $ 43.55 | ||
Balance - Decemberr 31, 2023 | 693,000 | 713,000 | |
Weighted Average Exercise Price, Outstanding | $ 43.12 | $ 43.55 | |
Common Stock Warrants [Member] | Issued For Services One [Member] | |||
Expiry of warrants | (20,000) | ||
Expired | $ 57.14 |
Stockholders' Equity - Schedu_9
Stockholders' Equity - Schedule of Warrants (Parenthetical) (Detail) - $ / shares | Jun. 30, 2023 | Apr. 14, 2022 |
Warrants exercise price | $ 0.001 | |
Adgero Replacement Warrants [Member] | ||
Number | 21,000 | |
Warrants exercise price | $ 159 | |
2017 Investor Warrants [Member] | ||
Number | 4 | |
Warrants exercise price | $ 1,750 | |
2017 Agent Warrants [Member] | ||
Number | 1 | |
Warrants exercise price | $ 2,030 |
Stockholders' Equity - Sched_10
Stockholders' Equity - Schedule of Outstanding Warrants (Detail) - $ / shares | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Jun. 30, 2023 | Apr. 14, 2022 | |
Warrants exercise price | $ 0.001 | ||
Warrant [Member] | |||
Number | 693,000 | 713,000 | |
Warrant [Member] | Issued For Services One [Member] | |||
Number | 20,000 | ||
Warrant [Member] | Issued For Services One [Member] | Minimum [Member] | |||
Warrants exercise price | $ 32 | ||
Expiry date | Sep. 22, 2023 | ||
Warrant [Member] | Issued For Services One [Member] | Maximum [Member] | |||
Warrants exercise price | $ 450 | ||
Expiry date | Feb. 25, 2024 | ||
Warrant [Member] | Investor One [Member] | |||
Number | 240,000 | 325,000 | |
Warrants exercise price | $ 62.5 | $ 20.5 | |
Expiry date | Mar. 28, 2025 | Apr. 14, 2027 | |
Warrant [Member] | Investor Two [Member] | |||
Number | 65,000 | 240,000 | |
Warrants exercise price | $ 50 | $ 62.5 | |
Expiry date | Aug. 16, 2024 | Mar. 28, 2025 | |
Warrant [Member] | Investor Three [Member] | |||
Number | 15,000 | 65,000 | |
Warrants exercise price | $ 155 | $ 50 | |
Expiry date | Jun. 05, 2024 | Aug. 16, 2024 | |
Warrant [Member] | Investor Four [Member] | |||
Number | 15,000 | ||
Warrants exercise price | $ 155 | ||
Expiry date | Jun. 05, 2024 | ||
Warrant [Member] | NBTS [Member] | |||
Number | 3,000 | 3,000 | |
Warrants exercise price | $ 54.5 | $ 54.5 | |
Expiry date | Jun. 19, 2025 | Jun. 19, 2025 | |
Warrant [Member] | Agent [Member] | |||
Number | 32,000 | 32,000 | |
Warrants exercise price | $ 33.12 | $ 33.12 | |
Expiry date | Oct. 14, 2026 | Oct. 14, 2026 | |
Warrant [Member] | Agent One [Member] | |||
Number | 12,000 | 12,000 | |
Warrants exercise price | $ 78.12 | $ 78.12 | |
Expiry date | Mar. 28, 2025 | Mar. 28, 2025 | |
Warrant [Member] | Agent Two [Member] | |||
Number | 1,000 | 1,000 | |
Warrants exercise price | $ 193.75 | $ 193.75 | |
Expiry date | Jun. 03, 2024 | Jun. 03, 2024 | |
Warrant [Member] | Investor [Member] | |||
Number | 325,000 | ||
Warrants exercise price | $ 20.5 | ||
Expiry date | Apr. 14, 2027 |
Stockholders' Equity - Sched_11
Stockholders' Equity - Schedule of Outstanding Series C Preferred Stock Warrants (Detail) | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 Warrant $ / shares shares | Jun. 30, 2023 Warrant $ / shares shares | Apr. 14, 2022 $ / shares | |
Warrants exercise price | $ / shares | $ 0.001 | ||
Series C Warrants | |||
Balance | 2,444 | 2,444 | |
Number of Warrants Issued | Warrant | 0 | 0 | |
Number of Warrants Exercised | 0 | 0 | |
Balance | 2,444 | 2,444 | |
Series C Warrants | Issuance of Preferred Series C-1 Agent Warrants [Member] | |||
Balance | 1,929 | 1,929 | |
Number of Warrants Issued | Warrant | 0 | ||
Number of Warrants Exercised | 0 | ||
Balance | 1,929 | ||
Warrants exercise price | $ / shares | $ 58 | ||
Series C Warrants | Issuance of Preferred Series C-2 Agent Warrants [Member] | |||
Balance | 219 | 219 | |
Number of Warrants Issued | Warrant | 0 | ||
Number of Warrants Exercised | 0 | ||
Balance | 219 | ||
Warrants exercise price | $ / shares | $ 60.7 | ||
Series C Warrants | Issuance of Preferred Series C-3 Agent Warrants [Member] | |||
Balance | 296 | 296 | |
Number of Warrants Issued | Warrant | 0 | ||
Number of Warrants Exercised | 0 | ||
Balance | 296 | ||
Warrants exercise price | $ / shares | $ 57.5 | ||
Series C Warrants | Preferred Series C-1 Agent Warrants [Member] | |||
Balance | 1,929 | ||
Number of Warrants Issued | Warrant | 0 | ||
Number of Warrants Exercised | 0 | ||
Balance | 1,929 | 1,929 | |
Warrants exercise price | $ / shares | $ 58 | ||
Series C Warrants | Preferred Series C-2 Agent Warrants [Member] | |||
Balance | 219 | ||
Number of Warrants Issued | Warrant | 0 | ||
Number of Warrants Exercised | 0 | ||
Balance | 219 | 219 | |
Warrants exercise price | $ / shares | $ 60.7 | ||
Series C Warrants | Preferred Series C-3 Agent Warrants [Member] | |||
Balance | 296 | ||
Number of Warrants Issued | Warrant | 0 | ||
Number of Warrants Exercised | 0 | ||
Balance | 296 | 296 | |
Warrants exercise price | $ / shares | $ 57.5 |
Stockholders' Equity - Sched_12
Stockholders' Equity - Schedule of Outstanding Series C Agent Warrants (Detail) - $ / shares | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 | Jun. 30, 2022 | Jun. 30, 2023 | Apr. 14, 2022 | |
Warrants exercise price | $ 0.001 | |||
Series C Warrants | ||||
Number | 2,444 | 2,444 | 2,444 | |
Number of conversion shares (in thousands) | 42,000 | 42,000 | ||
Cumulative common stock dividends | 30,000 | 30,000 | ||
Series C Warrants | Series 1 Warrants Outstanding | ||||
Number | 1,929 | 1,929 | ||
Warrants exercise price | $ 58 | $ 58 | ||
Number of conversion shares (in thousands) | 33,000 | 33,000 | ||
Cumulative common stock dividends | 23,000 | 23,000 | ||
Series C Warrants | Series 2 Warrants Outstanding Member | ||||
Number | 219 | 219 | ||
Warrants exercise price | $ 60.7 | $ 60.7 | ||
Number of conversion shares (in thousands) | 4,000 | 4,000 | ||
Cumulative common stock dividends | 3,000 | 3,000 | ||
Series C Warrants | Series 3 Warrants Outstanding | ||||
Number | 296 | 296 | ||
Warrants exercise price | $ 57.5 | $ 57.5 | ||
Number of conversion shares (in thousands) | 5,000 | 5,000 | ||
Cumulative common stock dividends | 4,000 | 4,000 |
Stock Option Plans - Additional
Stock Option Plans - Additional Information (Detail) - TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 |
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 aggregate intrinsic value outstanding | $ 3,181,000 | $ 1,964,000 | $ 2,035,000 |
Unrecognized share based compensation arrangement | $ 3,149,000 | $ 796,000 | |
2019 Plan [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Share based compensation arrangement by share based payment award number of shares authorized | 20,000,000 | ||
2016 Plan [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Share based compensation arrangement by share based payment award number of shares authorized | 4,000,000 |
Stock Option Plans - Schedule o
Stock Option Plans - Schedule of the assumptions employed in the calculation of the fair value of share-based compensation expense (Detail) - TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | |
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | |||
Risk free interest rate minimum | 4.05% | 4.05% | 3.88% |
Risk free interest rate maximum | 4.89% | 4.89% | 4.38% |
Expected dividend yield | 0% | 0% | 0% |
Expected term | 4 years 10 months 24 days | 4 years 10 months 24 days | 4 years 10 months 24 days |
Expected stock volatility minimum | 91.90% | 91.90% | 89.20% |
Expected stock volatility maximum | 99.70% | 99.70% | 89.70% |
Common Stock [Member] | |||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | |||
Common stock fair value | $ 0.66 | $ 0.66 | $ 0.51 |
Stock Option Plans - Schedule_2
Stock Option Plans - Schedule of below is a summary of stock option activity (Detail) - $ / shares | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||||||||
Number of options, Outstanding | 198,000 | 198,000 | ||||||
Number of options, Granted | 89,000 | 78,000 | 79,000 | |||||
Number of options, Outstanding | 222,000 | 222,000 | 198,000 | |||||
Number of options, Exercisable | 102,000 | 102,000 | 80,000 | |||||
Weighted Average Exercise Price, Exercised | $ 32.92 | $ 51.71 | ||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||||||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||||||||
Number of options, Outstanding | 15,545,363 | 14,284,013 | 13,194,013 | |||||
Number of options, Expired | (50,000) | (450,000) | (350,000) | |||||
Number of options, Exercised | (250,000) | |||||||
Number of options, Granted | 4,638,471 | 1,711,350 | 1,440,000 | |||||
Number of options, Outstanding | 19,883,834 | 15,545,363 | 19,883,834 | 15,545,363 | 14,284,013 | 13,194,013 | ||
Number of options, Exercisable | 13,243,095 | 13,270,374 | 13,243,095 | 13,270,374 | ||||
Weighted Average Exercise Price, Outstanding | $ 0.53 | $ 0.51 | $ 0.51 | |||||
Weighted Average Exercise Price, Expired | 0.5 | 0.5 | 0.5 | |||||
Weighted Average Exercise Price, Exercised | 0.5 | |||||||
Weighted Average Exercise Price, Granted | 0.72 | 0.66 | 0.66 | |||||
Weighted Average Exercise Price, Outstanding | 0.58 | $ 0.53 | $ 0.58 | 0.53 | $ 0.51 | $ 0.51 | ||
Weighted Average Exercise Price, Exercisable | $ 0.53 | $ 0.52 | $ 0.53 | $ 0.52 | ||||
Weighted Average Contractual Life, Outstanding | 5 years 6 months 7 days | 4 years 5 months 4 days | 4 years 8 months 15 days | 4 years 3 months 3 days | ||||
Weighted Average Contractual Life, Exercisable | 3 years 6 months | 3 years 7 months 13 days |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Components Of The Provision For Income Taxes (Details) - TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Current | $ 0 | $ 0 |
Deferred | 0 | 0 |
Total provision (benefit) for income taxes | $ 0 | $ 0 |
Income Taxes - Schedule of Carr
Income Taxes - Schedule of Carrying Amount Of Assets And Liabilities For Financial Reporting (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
Effective income tax rate differs from the statutory income tax rate | ||||
Permanent differences | $ (1,095) | $ 802 | ||
Effect of rate differentials between jurisdictions | (127) | (345) | ||
Effect of foreign exchange rates | 66 | 445 | ||
Scientific research and development – ITC | (61) | (44) | ||
Adjustment to prior year's provision versus statutory tax returns | (106) | (2,332) | ||
Statutory rate | (3,076) | (4,743) | ||
Permanent and other items | 13 | 196 | ||
Change in valuation allowance | $ 4,386 | $ 6,021 | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||
Effective income tax rate differs from the statutory income tax rate | ||||
Book Income (Loss) - Pre-Tax | $ 29,317,000 | $ 9,358,000 | ||
Statutory rate | 6,157,000 | 1,967,000 | ||
State Tax Rate | 1,274,000 | 407,000 | ||
Permanent and other items | (43,000) | 42,000 | ||
R&D Credit | 357,000 | 427,000 | ||
Change in valuation allowance | (7,745,000) | (2,843,000) | ||
Total provision (benefit) for income taxes | $ 0 | $ 0 |
Income Taxes - Schedule of Reco
Income Taxes - Schedule of Reconciliation Of Tax Computed At The Statutory Rates To The Income Tax Provision Recognized (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 |
Deferred tax assets: | ||||
Net operating loss carryforward | $ 29,204 | $ 25,541 | ||
Stock compensation expense | 982 | 635 | ||
Capital losses carried forward | 18 | 18 | ||
Financing costs | 326 | 326 | ||
Bonus - compensation | 37 | 85 | ||
Scientific research and development | 895 | 803 | ||
Scientific research and development – Investment Tax Credits ("ITC") | 769 | 690 | ||
Capitalized research and development expenses | 265 | |||
Deferred tax assets | 32,496 | 28,098 | ||
Deferred tax liabilities: | ||||
Scientific research and development – ITC | (127) | (114) | ||
Gross future tax assets | 32,369 | 27,984 | ||
Less valuation allowance | $ (32,369) | $ (27,984) | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||
Deferred tax assets: | ||||
Net operating loss carryforward | $ 11,144,000 | $ 9,539,000 | ||
Stock compensation expense | 589,000 | 510,000 | ||
Deferred tax assets | 0 | 0 | ||
Deferred tax liabilities: | ||||
Less valuation allowance | (21,302,000) | (13,557,000) | ||
Total deferred tax assets, net | 21,302,000 | 13,557,000 | ||
Deferred tax assets (liabilities): | ||||
Intangible assets | 3,909,000 | 0 | ||
Section 174 R&D | 3,506,000 | 1,745,000 | ||
Accrued expenses | 359,000 | 286,000 | ||
Basis differences | (13,000) | 26,000 | ||
Research and development credit | $ 1,808,000 | $ 1,451,000 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
Tax Credit Carryforward [Line Items] | |||
Statutory income tax rate | 21% | 21% | |
Deferred tax assets, Operating loss carryforwards, Not subject to expiration | $ 34,100,000 | ||
Percentage of taxable income, limitation on NOLs | 80% | ||
Represents minimum cumulative percentage of change in ownership as a condition to offset taxable income or tax | 50% | ||
United States [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Loss before income taxes | $ 6,700,000 | ||
Operating loss carryforwards | 15,800,000 | ||
US and Canadian [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Operating loss carryforwards | 109,300,000 | $ 96,400,000 | |
Canadian [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Loss before income taxes | 7,900,000 | ||
Operating loss carryforwards | 59,400,000 | ||
Non-refundable federal investment tax credits | 470,000 | 422,000 | |
British Columbia [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Non-refundable federal investment tax credits | 299,000 | 248,000 | |
Canadian Scientific Research and Development [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Non-refundable federal investment tax credits | $ 3,300,000 | $ 3,000,000 | |
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Tax credit carryforward, amount | $ 15,218,000 | ||
Tax credit carry forward expiration year | 2037 | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Expire [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Tax credit carryforward, amount | $ 43,968,000 | ||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Not Expire [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Tax credit carryforward, amount | $ 28,750,000 |
Supplementary Statement of Ca_3
Supplementary Statement of Cash Flows Information - Schedule of Supplementary Statement of Cash Flows Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
Supplemental Cash Flow Elements [Abstract] | ||||
Non-cash issue costs (note 7) | $ 289 | $ 289 | $ 683 | |
Issue costs in accounts payable | 43 | |||
Equipment additions reclassified from prepaid expenses | 447 | 447 | ||
Conversion of Series C Preferred Stock to common stock (note 6) | 2,377 | |||
Preferred Stock Series C | ||||
Supplemental Cash Flow Elements [Abstract] | ||||
Preferred Stock common stock dividend (note 7) | $ 173 | $ 362 | 362 | 2,462 |
Conversion of Series C Preferred Stock to common stock (note 6) | $ (393) | $ (1,909) | $ (2,377) |
Financial Risk Management - Add
Financial Risk Management - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Jun. 01, 2023 | Jun. 30, 2023 | Mar. 31, 2024 | Jun. 30, 2022 | |
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||||
Cash and cash equivalents | $ 1,535 | $ 6,351 | $ 11,780 | |
Credit risk, financial instrument maximum exposure | 12 | |||
Credit risk, uninsured cash and cash equivalents | 957 | |||
Liquidity Risk [Member] | ||||
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||||
Liquidity risk maximum exposure | 3,248 | |||
Foreign exchange risk [Member] | ||||
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||||
Financial risk, accounts payable and accrued liabilities, net | 22 | |||
Maximum exposure of financial currency due to exchange rates, description | Foreign exchange risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. If foreign exchange rates were to fluctuate within +/-10% of the closing rate at year-end, the maximum exposure is $7. | |||
Foreign exchange risk maximum exposure | 7 | |||
Cash and cash equivalents | $ 1,535 | |||
Maximum exposure of interest rate risk, description | The Company’s cash balance currently earns interest at standard bank rates. If interest rates were to fluctuate within +/-10% of the closing rate at year end the impact of the Company’s interest-bearing accounts will not be significant due to the current low market interest rates. |
Financial Risk Management - Sch
Financial Risk Management - Schedule of Balances in Foreign Currencies (Detail) - Foreign exchange risk [Member] - CAD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||
Trade payables | $ 51 | $ 74 |
Cash | 13 | 27 |
Interest, taxes, and other receivables | $ 8 | $ 11 |
Financial Risk Management - S_2
Financial Risk Management - Schedule of Fair Value of Off-Balance Sheet Risks (Detail) - USD ($) $ in Thousands | Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 |
Risks and Uncertainties [Abstract] | |||
Cash and cash equivalents | $ 6,351 | $ 1,535 | $ 11,780 |
Insured amount | 578 | ||
Non- insured amount | $ 957 |
Clinical Trials Grant - Additio
Clinical Trials Grant - Additional Information (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Jul. 01, 2023 USD ($) TRANCHES | Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Proceeds from award grants | $ 2,000 | ||||
Number of tranches | TRANCHES | 2 | ||||
Research and Development [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Proceeds from award grants | $ 194 | $ 0 | $ 404 | $ 0 | |
Tranche One [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Proceeds from award grants | $ 1,250 | ||||
Tranche Two [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Proceeds from award grants | $ 750 |
Financial instruments -Schedule
Financial instruments -Schedule of Assets and Liabilities Classified , Changes in the Observability of Valuation Inputs Measured using Level 3 Inputs (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Balance | $ 166 | $ 163 | $ 182 |
Change in fair value estimate | 17 | 3 | (19) |
Balance | 183 | $ 166 | $ 163 |
Level 3 [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Milestone payment liability | $ 183 |
Asset purchase - Additional Inf
Asset purchase - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |||||
Jan. 26, 2023 USD ($) $ / shares | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Mar. 31, 2024 USD ($) $ / shares | Jun. 30, 2023 USD ($) $ / shares | Dec. 31, 2022 USD ($) | Jun. 30, 2022 USD ($) $ / shares | |
Asset Acquisition [Line Items] | |||||||
Common stock, value, issued | $ 55,000 | $ 2,000 | $ 1,000 | ||||
Common stock, par or stated value per share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | ||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||||
Asset Acquisition [Line Items] | |||||||
Payments to acquire productive assets | $ 1,200,000 | $ 1,217,655 | |||||
Common stock, value, issued | $ 6,801 | $ 6,807 | $ 4,529 | ||||
Proportion of fee payment to the investment bank | 25 | ||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | License and Maintenance [Member] | |||||||
Asset Acquisition [Line Items] | |||||||
Payments for other fees | $ 105,000 | ||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | License and Maintenance [Member] | Maximum [Member] | |||||||
Asset Acquisition [Line Items] | |||||||
Payments for other fees | 1,250,000 | ||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | License and Maintenance [Member] | Minimum [Member] | |||||||
Asset Acquisition [Line Items] | |||||||
Payments for other fees | 187,500 | ||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Tuhura Biopharma [Member] | |||||||
Asset Acquisition [Line Items] | |||||||
Payments to acquire productive assets | 1,200,000 | ||||||
Asset acquisition, consideration transferred, equity interest issued and issuable | $ 22,700,000 | ||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Tuhura [Member] | Common Stock [Member] | |||||||
Asset Acquisition [Line Items] | |||||||
Common stock, par or stated value per share | $ / shares | $ 0.66 | ||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Tuhura [Member] | Series B Preferred Stock [Member] | |||||||
Asset Acquisition [Line Items] | |||||||
Shares issued, price per share | $ / shares | 0.66 | ||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Tuhura [Member] | Series B Preferred Stock [Member] | Maximum [Member] | |||||||
Asset Acquisition [Line Items] | |||||||
Common stock, par or stated value per share | $ / shares | 550,000 | ||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Tuhura [Member] | Series B Preferred Stock [Member] | Minimum [Member] | |||||||
Asset Acquisition [Line Items] | |||||||
Common stock, par or stated value per share | $ / shares | $ 500,000 | ||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | Tuhura [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | |||||||
Asset Acquisition [Line Items] | |||||||
Common stock, value, issued | $ 15,000,000 | ||||||
Shares issued, price per share | $ / shares | $ 0.66 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
Commitments and Contingencies (Textual) | ||||||
Remaining commitments related to drug manufacturing, clinical study management and safety | $ 3,200,000 | |||||
Deposits related to study initiation | 4,300,000 | |||||
Rent expense | $ 39,000 | $ 41,400 | ||||
Head Office [Member] | ||||||
Commitments and Contingencies (Textual) | ||||||
Lease rent for office space term | 1 year | |||||
Lease rent for office space | $ 2,400 | |||||
Administrative Offices [Member] | ||||||
Commitments and Contingencies (Textual) | ||||||
Lease rent for office space | 1,900 | |||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | ||||||
Commitments and Contingencies (Textual) | ||||||
Rent expense | $ 62,000 | $ 47,000 | $ 192,000 | $ 193,000 | ||
CAD [Member] | Administrative Offices [Member] | ||||||
Commitments and Contingencies (Textual) | ||||||
Lease rent for office space | $ 2,500 |
Commitments and contingencies_2
Commitments and contingencies - Schedule of future minimum lease payments for operating leases (Detail) - TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Lessee, Lease, Description [Line Items] | ||
Year ending December 31, 2024 | $ 128,090 | |
Year ending December 31, 2024 / 2025 | 172,931 | $ 21,002 |
Year ending December 31, 2025 / 2026 | 43,411 | 0 |
Operating lease, right-of-use asset | 21,002 | |
Interest portion of right of use liability | (33,556) | (182) |
Operating lease liabilities | $ 310,876 | $ 20,820 |
Commitments and contingencies_3
Commitments and contingencies - Schedule of future minimum lease payments for operating leases under agreements (Detail) - TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Lessee, Lease, Description [Line Items] | ||
Year ending December 31, 2024 | $ 128,090 | |
Year ending December 31, 2024 / 2025 | 172,931 | $ 21,002 |
Year ending December 31, 2025 | 43,411 | 0 |
Employment And Consulting Agreement [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Year ending December 31, 2024 | 827,126 | |
Year ending December 31, 2024 / 2025 | 877,835 | 683,000,000 |
Year ending December 31, 2025 | 499,000,000 | |
Total | $ 1,704,961 | $ 1,182,000,000 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
Jun. 26, 2024 USD ($) | Apr. 02, 2024 USD ($) PATIENTS shares $ / shares | Mar. 22, 2024 USD ($) | Aug. 19, 2023 shares | Aug. 15, 2023 $ / shares | Jul. 01, 2023 USD ($) $ / shares shares | Mar. 31, 2024 USD ($) $ / shares shares | Dec. 31, 2023 $ / shares shares | Mar. 31, 2024 $ / shares shares | Dec. 31, 2023 $ / shares shares | Jun. 30, 2023 $ / shares shares | Dec. 31, 2022 shares | Jun. 30, 2022 $ / shares shares | Mar. 22, 2025 | Mar. 21, 2024 $ / shares | |
Subsequent Event [Line Items] | |||||||||||||||
Proceeds from award grants | $ 2,000,000 | ||||||||||||||
Number of options granted | shares | 89,000 | 78,000 | 79,000 | ||||||||||||
Common stock, shares issued | shares | 55,305,000 | 55,305,000 | 1,692,000 | 1,311,000 | |||||||||||
Common stock, par or stated value per share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||
Minimum of number of patients enrolled | PATIENTS | 10 | ||||||||||||||
Tu H U R A Biosciences Inc [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Description Of Contingent Value Rights | Existing Company stockholders will receive contingent value rights (“CVR”), entitling them to receive shares of the Company’s common stock upon achievement of enrollment of a minimum of 10 patients in the REM-001 clinical trial, with such patients each completing 8 weeks of follow-up on or before December 31, 2025. | ||||||||||||||
TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Number of options granted | shares | 4,638,471 | 1,711,350 | 1,440,000 | ||||||||||||
Stock option exercise price | $ / shares | $ 0.53 | $ 0.52 | $ 0.53 | $ 0.52 | |||||||||||
Note Warrant [Member] | TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Debt instrument, convertible, conversion price | $ / shares | $ 0.68 | $ 0.68 | |||||||||||||
Debt instrument, issued, principal | $ 4,000,000 | ||||||||||||||
Percentage of debt instrument issued principal | 50% | ||||||||||||||
Subsequent Event [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Proceeds from award grants | $ 2,000,000 | ||||||||||||||
Stock option per share expired | $ / shares | $ 2,100 | ||||||||||||||
Subsequent Event [Member] | Chief Executive Officer [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
One-time special bonus | $ 327,000 | ||||||||||||||
Subsequent Event [Member] | Tu H U R A Biosciences Inc [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Accrued fees | $ 93,000 | ||||||||||||||
Subsequent Event [Member] | Tuhura [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Common stock, par or stated value per share | $ / shares | $ 0.001 | ||||||||||||||
Termination fee | $ 1,000,000 | ||||||||||||||
Subsequent Event [Member] | Tuhura [Member] | Merger Agreement [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Reimbursement of expenses | 750,000 | ||||||||||||||
Subsequent Event [Member] | TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Debt instrument, convertible, conversion price | $ / shares | $ 0.68 | ||||||||||||||
Debt instrument, face amount | $ 31,253,000 | ||||||||||||||
Proceeds from subscription of debt instruments | $ 19,753,000 | ||||||||||||||
Subsequent Event [Member] | Note Warrant [Member] | TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Debt instrument, convertible, conversion price | $ / shares | $ 0.68 | ||||||||||||||
Percentage of debt instrument issued principal | 50% | ||||||||||||||
Debt instrument, convertible, number of equity instruments | shares | 18,797,794 | ||||||||||||||
Debt instrument, convertible, liquidation preference, per share | $ / shares | $ 1.02 | ||||||||||||||
Debt instrument, convertible, liquidation preference, value | $ 4,000,000 | ||||||||||||||
Subsequent Event [Member] | Series C Preferred Stock | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Dividend rate | 20% | ||||||||||||||
Common stock, shares issued | shares | 49 | ||||||||||||||
Subsequent Event [Member] | Series C Agent Warrants [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Common stock shares accrued | shares | 8 | ||||||||||||||
Subsequent Event [Member] | Series C Agent Warrants [Member] | Series C Preferred Stock | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Preferred stock, rate of dividend | 20% | ||||||||||||||
FLORIDA | Subsequent Event [Member] | TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Lessee, operating lease, renewal term | 25 months | ||||||||||||||
Operating lease, payments | $ 14,000 | ||||||||||||||
Stock options [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Number of options granted | shares | 89,000 | 89,000 | 78,000 | 79,000 | |||||||||||
Stock option exercise price | $ / shares | $ 4.655 | $ 4.655 | |||||||||||||
Stock options [Member] | Subsequent Event [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Number of options granted | shares | 89 | ||||||||||||||
Stock option exercise price | $ / shares | $ 4.655 | ||||||||||||||
Stock option exercise period | Aug. 30, 2033 | ||||||||||||||
Tranche One [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Proceeds from award grants | $ 1,250,000 | ||||||||||||||
Tranche One [Member] | Subsequent Event [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Proceeds from award grants | $ 1,250,000 | ||||||||||||||
Tranche One [Member] | Stock options [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Number of options granted | shares | 26,000 | ||||||||||||||
Stock option commencing date, Description | The 26 options granted to non-employee directors vest pro rata monthly over 12 months commencing on March 31, 2024. | ||||||||||||||
Tranche One [Member] | Stock options [Member] | Subsequent Event [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Stock option commencing date, Description | The 26 options granted to non-employee directors vest pro rata monthly over 12 months commencing on September 30, 2023. | ||||||||||||||
Tranche Two [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Proceeds from award grants | $ 750,000 | ||||||||||||||
Tranche Two [Member] | Subsequent Event [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Proceeds from award grants | $ 750,000 | ||||||||||||||
Tranche Two [Member] | Stock options [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Number of options granted | shares | 63,000 | ||||||||||||||
Vesting rights, percentage | 25% | ||||||||||||||
Tranche Two [Member] | Stock options [Member] | Subsequent Event [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Number of options granted | shares | 63 | ||||||||||||||
Vesting rights, percentage | 25% | ||||||||||||||
Maximum [Member] | Subsequent Event [Member] | Merger Agreement [Member] | Contingent Value Rights [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Equity method investment, ownership percentage | 5.45% | ||||||||||||||
Maximum [Member] | Subsequent Event [Member] | Tuhura [Member] | Contingent Value Rights [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Equity method investment, ownership percentage | 94.55% | ||||||||||||||
Minimum [Member] | Subsequent Event [Member] | Merger Agreement [Member] | Contingent Value Rights [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Equity method investment, ownership percentage | 2.85% | ||||||||||||||
Minimum [Member] | Subsequent Event [Member] | Tuhura [Member] | Contingent Value Rights [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Equity method investment, ownership percentage | 97.15% | ||||||||||||||
Minimum [Member] | Subsequent Event [Member] | Note Warrant [Member] | TUHURA BIOSCIENCES, INC. AND SUBSIDIARY [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Debt instrument, issued, principal | $ 4,000,000 |