Nexvet Biopharma (NVET) 10-Q 13 Mar 15 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Dec. 31, 2014	Mar. 12, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Trading Symbol	NVET
Entity Registrant Name	Nexvet Biopharma plc
Entity Central Index Key	1618561
Current Fiscal Year End Date	-24
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		11,350,845

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (USD $)	Dec. 31, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified
Current assets
Cash	$21,665	$30,041
Other income receivable	1,560	2,404
Prepaid expenses and other	1,692	643
Total current assets	24,917	33,088
Property, plant and equipment, net	565	514
Intangible assets, net	1	2
Total assets	25,483	33,604
Current liabilities
Accounts payable	661	870
Accrued expenses	2,182	2,299
Lease incentive liability	25	28
Total current liabilities	2,868	3,197
Lease incentive liability	77	103
Warrants		5,435
Total noncurrent liabilities	77	5,538
Total liabilities	2,945	8,735
Commitments and contingencies (Note 11)
Convertible preferred stock		33,826
Shareholders’ equity (deficit)
Ordinary shares, $0.125 nominal value per share, 20,000,000 shares authorized—1,232,702 and 1,268,810 shares issued and outstanding as of December 31, 2014 and June 30, 2014, respectively	154	126
Euro deferred shares, €100 nominal value per share, 400 shares authorized—400 and zero shares issued and outstanding as of December 31, 2014 and June 30, 2014, respectively	13
Convertible preferred stock	33,826
Additional paid-in capital	8,298	2,342
Accumulated other comprehensive (loss) income	-3,245	373
Accumulated deficit	-16,508	-11,798
Total shareholders’ equity (deficit)	22,538	-8,957
Total liabilities, convertible preference shares and shareholders’ equity (deficit)	25,483	33,604
SIRPS Convertible Preference Shares
Current liabilities
Convertible preferred stock		8,177
Shareholders’ equity (deficit)
Convertible preferred stock	8,177
Series B Convertible Preference Shares
Current liabilities
Convertible preferred stock		25,649
Shareholders’ equity (deficit)
Convertible preferred stock	$25,649

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical)	Dec. 31, 2014	Dec. 31, 2014	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2014	Jun. 30, 2014
	USD ($)	EUR (€)	USD ($)	EUR (€)	SIRPS Convertible Preference Shares	SIRPS Convertible Preference Shares	Series B Convertible Preference Shares	Series B Convertible Preference Shares
					USD ($)	USD ($)	USD ($)	USD ($)
Convertible preference shares, nominal value per share					$0.13	$0.13	$0.13	$0.13
Convertible preference shares, shares authorized					4,000,000	4,000,000	8,000,000	8,000,000
Convertible preference shares, shares issued					0	1,737,132	0	4,200,006
Convertible preference shares, shares outstanding			5,937,138	5,937,138	0	1,737,132	0	4,200,006
Ordinary shares, nominal value per share	$0.13		$0.13
Ordinary shares, shares authorized	20,000,000	20,000,000	20,000,000	20,000,000
Ordinary shares, shares issued	1,232,702	1,232,702	1,268,810	1,268,810
Ordinary shares, shares outstanding	1,232,702	1,232,702	1,268,810	1,268,810
Euro deferred shares, nominal value per share		€ 100		€ 100
Euro deferred shares, shares authorized	400	400	400	400
Euro deferred shares, shares issued	400	400	0	0
Euro deferred shares, shares outstanding	400	400	0	0
Convertible preference shares, nominal value per share	$0.13				$0.13	$0.13	$0.13	$0.13
Convertible preference shares, shares authorized	12,000,000	12,000,000			4,000,000	4,000,000	8,000,000	8,000,000
Convertible preference shares, shares issued					1,737,144	0	4,200,016	0
Convertible preference shares, shares outstanding	5,937,160	5,937,160			1,737,144	0	4,200,016	0

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS (unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Revenue
Other			$25
Total revenue			25
Operating Expenses
Research and development	2,226	780	4,765	2,020
General and administrative	2,440	884	5,258	1,452
Total operating expenses	4,666	1,664	10,023	3,472
Loss from operations	-4,666	-1,664	-9,998	-3,472
Other Income (Expense)
Research and development incentive income	941	314	1,682	817
Government grant income	22	348	319	666
Exchange gain (loss)	1,270	-9	3,254	-39
Interest income	20	18	33	19
Net loss	-2,413	-993	-4,710	-2,009
Net loss per share attributable to ordinary shareholders, basic and diluted	($2.01)	($0.99)	($4.14)	($2.01)
Weighted-average ordinary shares outstanding, basic and diluted	1,198,828	1,000,000	1,138,520	1,000,000
Comprehensive Loss
Net loss	-2,413	-993	-4,710	-2,009
Net (loss) gain in foreign currency translation adjustments	-1,477	-127	-3,618	78
Total comprehensive loss	($3,890)	($1,120)	($8,328)	($1,931)

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN CONVERTIBLE PREFERENCE SHARES AND SHAREHOLDERS' EQUITY (DEFICIT) (unaudited) (USD $)	Total	Ordinary Shares	Ordinary Shares Subject to Limited Recourse Loans	Euro Deferred Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Convertible Preferred Stock	Convertible Preferred Stock	SIRPS Convertible Preference Shares	Series B Convertible Preference Shares
In Thousands, except Share data	USD ($)	USD ($)		USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)
Convertible Preference Shares, Beginning balance at Jun. 30, 2013									$3,597
Beginning balance at Jun. 30, 2013	-2,914	124			1,979	71	-5,088
Convertible Preference Shares, Beginning balance, shares at Jun. 30, 2013									792,117
Beginning balance, shares at Jun. 30, 2013		1,000,000	264,386
Issuance of ordinary shares—payment of limited recourse loan, amount	37	1			36
Issuance of ordinary shares—payment of limited recourse loan, shares	9,706	9,706	-9,706
Issuance of ordinary shares	22	1			21
Issuance of ordinary shares, shares		4,424
Share-based compensation expense	306				306
Exchange difference on translation of foreign operations	302					302
Net loss	-6,710						-6,710
Issuance of convertible preference shares, net of issuance costs										4,580	25,649
Issuance of convertible preference shares, shares										945,015	4,200,006
Convertible Preference Shares, Ending balance at Jun. 30, 2014	33,826								33,826	8,177	25,649
Ending balance at Jun. 30, 2014	-8,957	126			2,342	373	-11,798
Convertible Preference Shares, Ending balance, shares at Jun. 30, 2014	5,937,138								5,937,138	1,737,132	4,200,006
Ending balance, shares at Jun. 30, 2014		1,014,130	254,680
Issuance of ordinary shares—payment of limited recourse loan, amount		14			-14
Issuance of ordinary shares—payment of limited recourse loan, shares	109,611	109,611	-109,611
Issuance of ordinary shares, shares		1							6
Share-based compensation expense	538				538
Exchange difference on translation of foreign operations	-3,618					-3,618
Net loss	-4,710						-4,710
Issuance of ordinary shares and euro deferred shares, amount	13			13
Issuance of ordinary shares and euro deferred shares, shares		2		400
Share repurchase, shares	-145,069		-145,069
Issuance of share warrants	5,435				5,435
Issuance of ordinary shares—conversion of share-based compensation, amount	11	14			-3
Issuance of ordinary shares—conversion of share-based compensation, shares		108,949
Reclassification into shareholders’ equity, shares								5,937,160	-5,937,160
Adjustment for shares issued in connection with share consolidation		9
Reclassification into shareholders’ equity	33,826							33,826	-33,826
Reclassification into shareholders’ equity, shares									-5,937,160
Adjustment for convertible preference shares issued in connection with share consolidation									16
Ending balance at Dec. 31, 2014	$22,538	$154		$13	$8,298	($3,245)	($16,508)	$33,826
Convertible Preference Shares, Ending balance, shares at Dec. 31, 2014										0	0
Ending balance, shares at Dec. 31, 2014		1,232,702		400				5,937,160

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN CONVERTIBLE PREFERENCE SHARES AND SHAREHOLDERS' EQUITY (DEFICIT) (unaudited) (Parenthetical) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
SIRPS Convertible Preference Shares
Issuance of convertible preference shares, issuance costs	$294
Series B Convertible Preference Shares
Issuance of convertible preference shares, issuance costs	$1,021

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)	6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2014
Cash Flows from Operating Activities
Net loss	($4,710)	($2,009)	($6,710)
Adjustments to reconcile net loss to cash used in operating activities:
Share-based compensation expense	538	27
Depreciation and amortization expense	76	9
Changes in assets and liabilities:
Other income receivable	844	223
Prepaid expenses and other	-1,049	-89
Accounts payable, accrued expenses and lease incentive liability	-355	323
Net cash used in operating activities	-4,656	-1,516
Cash Flows from Investing Activities
Purchase of property, plant and equipment	-176	-102
Purchase of intangible assets		-2
Net cash used in investing activities	-176	-104
Cash Flows from Financing Activities
Proceeds from issuance of ordinary shares	24
Proceeds from issuance of convertible preference shares and warrants		4,580
Net cash provided by financing activities	24	4,580
Effect of exchange rate changes on cash	-3,568	119
Net (decrease) increase in cash	-8,376	3,079
Cash at beginning of period	30,041	483	483
Cash at end of period	21,665	3,562	30,041
Supplemental Disclosure
Offering costs in connection with (convertible preference shares and warrants) recorded in equity		294
Issuance of share options for accrued consulting services	$102

Organization_and_Description_o

Organization and Description of Business	6 Months Ended
	Dec. 31, 2014
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business
	Nexvet Biopharma public limited company and its subsidiaries (the “Company”) is a clinical stage biopharmaceutical company focused on transforming the therapeutic market for companion animals by developing and commercializing novel, species-specific biologics based on human biologics. As a class, biologics, which include monoclonal antibodies (“mAbs”) and fusion proteins, have transformed human medicine in recent decades and represent some of the top-selling therapies on the market today.  The Company’s proprietary platform, which it refers to as “PETization,” is an algorithmic approach that enables the Company to rapidly create mAbs that are designed to be recognized as “self” or “native” by an animal’s immune system, a property referred to as “100% species-specificity.” PETization is also designed to build upon the safety and efficacy data from clinically tested human therapies to create new therapies for companion animals, thereby reducing clinical risk and development cost.  The Company’s first product candidate, NV–01, is a mAb that is a nerve growth factor inhibitor for the control of pain associated with osteoarthritis in dogs. The Company’s second product candidate, NV–02, is a mAb that is a nerve growth factor inhibitor for the control of pain associated with degenerative joint disease in cats. The Company expects data from its pivotal safety and efficacy studies for NV–01 by the end of 2015 and for NV–02 in 2016.  The Company’s third product candidate, NV–08, is a fusion protein that is a tumor necrosis factor inhibitor for the treatment of chronic inflammatory diseases, including atopic dermatitis, in dogs.  If its proof-of-concept safety and efficacy studies for NV–08 are successful, the Company will progress this product into formal development. Using PETization, the Company is seeking to advance one new product candidate into development per year commencing in the second half of 2015.
	The Company has experienced losses since its inception and had an accumulated deficit of $16.5 million and $11.8 million as of December 31, 2014 and June 30, 2014, respectively. For the foreseeable future, management expects the Company to continue to incur losses and negative cash flows, which will increase significantly from historical levels as the Company expands its development activities, seeks regulatory approvals for its lead product candidates and begins to commercialize any approved products. To date, the Company has been funded primarily through sales of capital shares.  Management believes the Company’s cash of $21.7 million as of December 31, 2014 together with the initial public offering proceeds will be sufficient to fund its operations for at least the next 12 months.
	The Company will require additional capital until such time as the Company can generate revenue in excess of operating expenses. The Company may seek such funding through public or private equity, debt financing or other sources, such as corporate collaborations and licensing arrangements.  The Company may not be able to obtain financing on acceptable terms, or at all. The sale of additional equity would result in additional dilution to the Company’s shareholders, and the terms of any financing may adversely affect the rights of the Company’s shareholders.  The incurrence of any debt financing could result in debt service obligations and the instruments governing such debt could provide for operating and financing covenants that would restrict the Company’s operations.  If the Company is unable to obtain funding, the Company could be forced to delay, reduce or eliminate its research and development programs or commercialization efforts, which could adversely affect its business prospects.
	In August 2014, the Company completed a one-for-four share consolidation. Each holder of ordinary shares and preference shares received one ordinary share or preference share for every four ordinary shares or preference shares held by such holder.  The number of ordinary shares that may be acquired upon exercise of options or warrants or upon conversion of restricted share units was similarly reduced on a one-for-four basis, with a proportionate adjustment to the exercise or conversion price, as applicable.
	In September 2014, Nexvet Australia Pty Ltd (“Nexvet Australia”) completed a transaction in which (i) Nexvet Biopharma Limited became the parent company of Nexvet Australia and its subsidiaries and (ii) all of the holders of ordinary shares, preference shares, restricted share units and options and warrants to purchase ordinary shares of Nexvet Australia exchanged their holdings for equivalent ordinary shares, preference shares, restricted share units or options or warrants to purchase ordinary shares, as applicable, of Nexvet Biopharma Limited (the “Irish Exchange”). Nexvet Biopharma Limited then re-registered as an Irish public limited company in September 2014 (together with the Irish Exchange, the “Irish Reorganization”).  Nexvet Biopharma plc became the parent company of Nexvet Australia pursuant to the Irish Reorganization, and for financial reporting purposes the historical condensed consolidated financial statements of Nexvet Australia became the historical condensed consolidated financial statements of Nexvet Biopharma plc and its subsidiaries as a continuation of the predecessor.
	In November 2014, the Company completed a four-for-five share consolidation.  Each holder of ordinary shares and preference shares received four ordinary shares or four preference shares for every five ordinary shares or five preference shares held by such holder.  The number of ordinary shares that may be acquired upon exercise of options or warrants on upon conversion of restricted share units was similarly reduced on a four-for-five basis, with a proportionate adjustment to the exercise or conversion price, as applicable.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies
	Basis of Presentation and Principles of Consolidation
	The accompanying interim condensed consolidated financial statements of the Company include the operations of all its wholly-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Such operations include the Company, Nexvet Australia, NVIP Pty Limited, Nexvet UK Limited and Nexvet US, Inc. All intercompany balances and transactions have been eliminated in consolidation. The Company’s fiscal year ends on June 30, and references to any fiscal year are to the Company’s year ended June 30 in that year.
	Unaudited Interim Financial Information
	The accompanying interim condensed consolidated financial statements and related disclosures as of December 31, 2014 and for the three and six months ended December 31, 2014 and 2013 are unaudited and have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of December 31, 2014 and the results of its operations and comprehensive loss and its cash flows for the three and/or six months ended December 31, 2014 and 2013.  The financial data and other information disclosed in these notes related to the three and/or six months ended December 31, 2014 and 2013 are unaudited. The results for the three and six months ended December 31, 2014 and 2013 are not necessarily indicative of results to be expected for a full year, any other interim periods or any future year or period.
	These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes as of and for the year ended June 30, 2014 included in Company’s registration statement on Form S‑1 (Registration No. 333-201309) filed pursuant to rule 424(b) on February 5, 2015 with the SEC.  The condensed consolidated balance sheet data as of June 30, 2014 was derived from audited consolidated financial statements.
	Use of Estimates
	The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include research and development incentive income, research and development accruals, share-based payments, valuation of warrants, options and restricted share units and deferred income taxes. Actual results could differ from those estimates.
	Net Loss Per Share
	Net loss per share information is determined using the two-class method, which includes the weighted-average number of ordinary shares outstanding during the period and other securities that participate in dividends (a participating security). The Company’s convertible preference shares are participating securities as defined by Accounting Standards Codification (“ASC”) Topic 260-10, Earnings Per Share. Net loss per share disclosures for all periods have been revised to give effect to the share consolidations that took place in the reporting period.
	Under the two-class method, basic net loss per share applicable to ordinary shareholders is computed by dividing the net loss applicable to ordinary shareholders by the weighted-average number of ordinary shares outstanding for the reporting period.
	Diluted net loss per share gives effect to all potentially dilutive securities, including convertible preference shares and shares issuable upon the exercise or conversion, as applicable, of outstanding warrants, share options and restricted share units, using the treasury shares method. For the three and six months ended December 31, 2014 and 2013, the Company has excluded the effects of all potentially dilutive shares, which include convertible preference shares, warrants to purchase ordinary shares, ordinary share options, restricted share units and the ordinary shares issued subject to limited recourse loans, from the weighted-average number of ordinary shares outstanding as their inclusion in the computation for all periods would be anti-dilutive due to net losses.
	Cash
	As of December 31, 2014 and June 30, 2014, the Company’s cash consisted of cash deposited in a business operating account or in short-term deposit accounts of less than 90 days’ duration.
	Concentration of Credit Risk and Other Risks and Uncertainties
	The Company receives research and development incentive income and grants from a single source, the Australian government.
	The Company’s cash is deposited with several large commercial banks located in the United States and Australia that are federally insured or guaranteed, limiting the amount of credit exposure to any one financial institution. The Company’s cash balances with these financial institutions often exceed the amount insured.
	The Company is subject to risks common to companies in the biotechnology industry. The Company’s research and development may not be successfully completed, adequate protection for the Company’s technology may not be obtained, any products developed may not obtain necessary government regulatory approval and any approved products may not be commercially viable. The Company operates in an environment of substantial competition from other animal health companies, some of which have substantially more resources at their disposal. In addition, the Company is dependent upon the services of its employees and consultants, as well as third-party contract research organizations and manufacturers.
	Fair Value Measurements
	The Company records certain assets and liabilities at fair value in accordance with the provisions of ASC Topic 820, Fair Value Measurements. As defined in the guidance, fair value, defined as an exit price, represents the amount that would be received to sell an asset or pay to transfer a liability in an orderly transaction between market participants. As a result, fair value is a market-based approach that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering these assumptions, the guidance defines a three-tier value hierarchy that prioritizes the inputs used in the valuation methodologies in measuring fair value.
	·	Level 1—Unadjusted quoted prices in active, accessible markets for identical assets or liabilities.
	·	Level 2—Other inputs that are directly or indirectly observable in the marketplace.
	·	Level 3—Unobservable inputs that are supported by little or no market activity.
	The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
	The Company’s material financial instruments include cash, other income receivables, accrued liabilities and warrants. The carrying amounts of these instruments are considered to be representative of their respective fair values because of the short-term nature of those investments. The Company determined its warrants liability to be Level 3 fair value measurement as of June 30, 2014.
	Other Income Receivable
	Other income receivable is recorded at the invoiced amount where available.
	Nexvet Australia is eligible under the AusIndustry research and tax development tax incentive program to obtain a cash amount from the Australian Taxation Office (“ATO”). The tax incentive is available to Nexvet Australia on the basis of specific criteria with which Nexvet Australia must comply. Specifically, Nexvet Australia must have revenue of less than A$20 million and cannot be controlled by income tax exempt entities. Tax incentives are classified as other income receivable.
	Foreign Currency
	Items included in the Company’s condensed consolidated financial statements are measured using the currency of the primary economic environment in which the Company operates, referred to as the functional currency. Financial statements of companies operating outside the United States generally are measured using the local currency as the functional currency. Adjustments to translate those statements into United States dollars are recorded in other comprehensive income (loss) (“OCI”) as a net change in foreign currency translation. Non-cash currency translation adjustments in accumulated OCI were primarily related to a translation of U.S. dollar-denominated bank accounts from Nexvet Australia’s Australian dollar functional currency to U.S. dollars.
	Foreign currency transactions are translated into the functional currency using the current exchange rate. For assets and liabilities, the exchange rate at the balance sheet date is used. For revenue and expenses and gains and losses, a weighted-average exchange rate for the period is used to translate those elements. The reporting currency of these condensed consolidated financial statements is U.S. dollars. These losses and gain relate to a translation of U.S. dollar-denominated bank accounts into the Company’s Australian dollar functional currency and are included in other income (expense).
	Under U.S. GAAP, there is no offset of these two exchange-related items within the condensed consolidated statements of operations and comprehensive loss. Net loss and associated calculations are impacted by this treatment.
	Warrants
	The Company’s liabilities primarily consist of warrants that were issued to investors and financial advisors in connection with private placements of the Company’s securities in May 2014. The warrants permit the holders to purchase ordinary shares at exercise prices of $8.625 and $7.50 per share on or before May 2019. Because the warrants may be net exercised and are exercisable in U.S. dollars, and the functional currency of Nexvet Australia, the original issuer of the warrants, is Australian dollars, they were classified as a liability as of June 30, 2014 and were reclassified to shareholders’ equity in September 2014 following the Irish Reorganization (in which the original warrants were exchanged for warrants issued by the Company) and the change in the functional currency of the Company to U.S. dollars.
	Warrants recorded as liabilities ($5.4 million as of June 30, 2014) are valued at fair value using the binomial option-pricing model and the expected term based on management’s best estimate, for the effects of non-transferability, exercise restrictions and behavioral considerations. At applicable balance sheet dates, the outstanding warrants were revalued to their then-current fair value, with the difference in fair value recorded in the condensed consolidated statements of operations and comprehensive loss.
	Warrants are classified within Level 3 of the fair value hierarchy wherein fair value is estimated using significant unobservable inputs. The significant assumptions used in estimating the fair value of the warrants include the estimated fair value of the underlying shares, exercise price, volatility of the shares underlying the warrant and the expected term of the warrant. The fair value of the underlying ordinary shares was estimated by reference to the price per share paid by investors for the Company’s Series B preference shares in May 2014. The fair values of the warrants were estimated using the following assumptions:
			June 30,
			2014
	Fair value per ordinary share		$6.35
	Risk free interest rate			1.70%
	Expected term (in years)		4 years
	Expected volatility			75%
	Expected dividend yield		Zero
	There were warrants to purchase 1,766,998 ordinary shares issued during fiscal year 2014 and no warrants issued during the six months ended December 31, 2014.
	The Company reclassified the warrants to shareholders’ equity (deficit) in additional paid-in capital in September 2014 following the Irish Reorganization and the change in the Company’s functional currency to U.S. dollars.
	Income Taxes
	The Company has historically filed income tax returns in Australia and the United States and in the future also expects to file tax returns in Ireland.
	The Company applies ASC Topic 740, Income Taxes, which establishes financial accounting and reporting requirements for the effects of income taxes that result from the Company’s activities during the current and preceding years. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities on their respective tax bases, and operating losses and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted statutory tax rates expected to apply to taxable income in the jurisdictions and years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date.
	When the Company determines that it is more likely than not that some portion or all of the deferred tax assets will not be realized in the future, the deferred tax assets are reduced by a valuation allowance. The valuation allowance is sufficient to reduce the deferred tax assets to the amount that the Company determines is more likely than not to be realized.
	Research and Development Expense
	Research and development costs are expensed as incurred and consist primarily of (i) payroll and related expense for all employees engaged in scientific research and development functions, including wages, related benefits and share-based compensation, (ii) fees for regulatory, professional and other consultants and (iii) development costs, including costs of drug discovery, safety, proof-of-concept and pivotal safety and efficacy studies, development of biological materials and service providers. The Company is currently pursuing its NV-01, NV-02 and NV-08 lead product candidates and typically uses its employee and infrastructure resources across multiple development programs. The Company tracks outsourced development costs by lead product candidates but does not allocate personnel or other internal costs related to development to specific product candidates.
	General and Administrative Expense
	General and administrative expense consists primarily of non-research and development-related payroll and related expense for employees, consultants and directors, including wages, related benefits and share-based compensation. General and administrative expense also includes professional and consulting fees for legal, accounting, tax services and other general business services, as well other expenses such as travel, rent and facilities costs.
	Other Income (Expense)
	Nexvet Australia is eligible under the AusIndustry research and development tax incentive program to obtain a cash amount from the ATO. The tax incentive is available to Nexvet Australia on the basis of specific criteria with which Nexvet Australia must comply. Although the tax incentive is administered through the ATO, the Company has accounted for the tax incentive outside the scope of ASC Topic 740, Income Taxes, as an income tax benefit since Nexvet Australia meets the applicable requirements to participate in the program and the incentive is not linked to Nexvet Australia’s income tax liability and can be realized regardless of whether Nexvet Australia has generated taxable income. Research and development incentive income is recognized when the research and development activities have been undertaken and the Company has completed its assessment of whether such activities meet the relevant qualifying criteria.
	The Company recognizes government grant income at the fair value of the grant when it is received and all substantive conditions have been satisfied. When the grant relates to an expense item, it is recognized as income over the periods necessary to match the grant on a systematic basis to the costs that it is intended to compensate.
	Exchange (loss) gain consists primarily of losses or gains due to foreign exchange translation, primarily reflecting changes in Australian and U.S. foreign exchange rates. Under U.S. GAAP, these items relate to a translation of U.S. dollar-denominated bank accounts into Nexvet Australia’s Australian dollar functional currency and represent a non-cash item.
	Comprehensive Loss
	Comprehensive loss is defined as the total change in shareholders’ equity (deficit) during the period other than from transactions with shareholders, which for the Company includes net change in foreign currency translation adjustments.
	Share-Based Compensation
	The Company’s share-based compensation plan (see Note 9) provides for the grant of share options, restricted share units and other share-based awards. The fair value of share options is determined as of the date of grant using the binomial option-pricing model. This method incorporates the fair value of the Company’s ordinary shares at the date of each grant and various assumptions such as the risk-free interest rate, expected volatility based on the historic volatility of peer companies, expected dividend yield, and expected term of the share option. Restricted share units are valued at the fair value of the underlying ordinary shares as of the date of grant. To date, the Company has granted options to purchase ordinary shares with an exercise price of their nominal value of $0.125 per ordinary share and restricted share units to acquire ordinary shares with a conversion price of the nominal value of $0.125 per ordinary share on the date of grant. The Company classifies share-based compensation expense in the statements of operations and comprehensive loss in the same manner in which the award recipient’s payroll costs are classified.
	Equity instruments issued to non-employees, including consultants, are accounted for in accordance with Financial Accounting Standards Board (“FASB”) guidance. All transactions in which services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date of the fair value of the equity instrument issued is the earlier of the date on which the counterparty’s performance is complete or the date on which it is probable that performance will occur.
	For transactions where the fair value of the equity instrument issued to non-employees is the more reliable measurement and a measurement date has not been reached, the fair value is re-measured at each balance sheet date using the binomial option-pricing model. Compensation expense for these share-based awards is recognized over the term of the consulting agreement or until the award is approved and settled.
	Segment Data
The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Company is a clinical stage biopharmaceutical company focusing on developing therapies for companion animals. As of December 31, 2014 and June 30, 2014, all major assets were held in Australia.
Recently Adopted Accounting Pronouncements
The Company has early adopted the provisions of Accounting Standards Update (“ASU”) No. 2014-10, Elimination of Certain Financial Requirements, Including an Amendment to Variable Interest Entities Guidance Topic in Topic 810, Consolidation, starting in fiscal year 2014.  In June 2014, the FASB issued guidance removing the definition of a development stage entity from the Master Glossary of the ASC, thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP.  This guidance also eliminates an exception provided to development stage entities in ASC Topic 810, Consolidation, for determining whether an entity is a variable interest entity on the basis of the amount of the investment equity that is at risk.  On adoption, the Company was not required to present or disclose any information required by ASC Topic 915, Development Stage Entities.
Recently Issued Accounting Pronouncements
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. This guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance also requires an entity to disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about:
·	Contracts with customers—including revenue and impairments recognized, disaggregation of revenue and information about contract balances and performance obligations (including the transaction price allocated to the remaining performance obligations).
·	Significant judgments and changes in judgments—determining the timing of satisfaction of performance obligations (over time or at a point in time), and determining the transaction price and amounts allocated to performance obligations.
·	Certain assets—assets recognized from the costs to obtain or fulfill a contract.
This guidance will be effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company is currently evaluating the impact that this guidance will have on the Company’s condensed consolidated results of operations, financial position and cash flows.
In June 2014, the FASB issued ASU 2014-12, Compensation—Stock Compensation. This guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply the existing guidance in ASC Topic 718, Compensation-Stock Compensation, as it relates to awards with performance conditions that affect vesting to account for such awards. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. This guidance will be effective for annual reporting periods beginning after December 15, 2015. The Company is currently evaluating the impact that this guidance will have on the Company’s condensed consolidated results of operations, financial position and cash flows.
In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40).  This guidance defines management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures.  Under the guidance, management is required to evaluate, for each annual and interim reporting period, whether it is probable that the entity will not be able to meet its obligations as they become due within one year after the date that the financial statements are issued or are available to be issued. When management identifies substantial doubt about the entity’s ability to continue as a going concern, additional disclosures are required.  This guidance will be effective for annual reporting periods beginning after December 15, 2016.  The Company does not expect the adoption of this guidance to have a material impact on the Company’s financial condition, results of operations or cash flows.

Accrued_Expenses

Accrued Expenses	6 Months Ended
	Dec. 31, 2014
Payables And Accruals [Abstract]
Accrued Expenses	3. Accrued Expenses
	Accrued expenses consisted of the following as of the dates indicated:
		December 31,		June 30,
		2014		2014
		(in thousands)
	Accrued payroll and related expenses	$	573	$	502
	Accrued professional fees		956		355
	Accrued research and development costs		653		1,442
	Accrued expenses	$	2,182	$	2,299

Warrants

Warrants	6 Months Ended
	Dec. 31, 2014
Warrants And Rights Note Disclosure [Abstract]
Warrants	4. Warrants
		December 31,		June 30,
		2014		2014
		(in thousands)
	Warrants	$	—	$	5,435
	In May 2014, the Company issued warrants to purchase 1,574,998 ordinary shares to purchasers of its Series B preference shares with an exercise price of $8.625 per share. In addition, the Company issued warrants to purchase 192,000 ordinary shares to financial advisors with an exercise price of $7.50 per share.
	All warrants have a five year contractual life, are exercisable in U.S. dollars and were revalued to fair value at June 30, 2014 using the appropriate exchange rate. The warrants were reclassified to shareholders’ equity in September 2014 following the Irish Reorganization and the change in the functional currency of the Company to U.S. dollars.

Convertible_Preference_Shares

Convertible Preference Shares	6 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Convertible Preference Shares	5. Convertible Preference Shares
	The Company has issued Series A investment preference shares (“SIRPS Preference Shares”) and Series B convertible preference shares (“Series B Preference Shares”) (collectively, the “Preference Shares”). The Company’s Memorandum and Articles of Association as of December 31, 2014 authorized 12,000,000 Preference Shares with a nominal value of $0.125 per Preference Share.
	Preference Shares consisted of the following as of December 31, 2014 and June 30, 2014:
	December 31, 2014	Preference		Liquidation		Carrying
		Shares		Preference		Value
		Issued and
		Outstanding
				(in thousands)
	SIRPS Preference Shares		1,737,144	$	16,353	$	8,177
	Series B Preference Shares		4,200,016		51,298		25,649
			5,937,160	$	67,651	$	33,826
	June 30, 2014	Preference		Liquidation		Carrying
		Shares		Preference		Value
		Issued and
		Outstanding
				(in thousands)
	SIRPS Preference Shares		1,737,132	$	16,353	$	8,177
	Series B Preference Shares		4,200,006		51,298		25,649
			5,937,138	$	67,651	$	33,826
	Following changes to the redemption features of the Preference Shares in August 2014, the Preference Shares have been reclassified into shareholders’ equity (deficit).
	Prior to August 2014, upon certain insolvency and other events, the holders of the Preference Shares could require their redemption.  Therefore, the Preference Shares were classified outside of shareholders’ equity (deficit) in accordance with authoritative guidance for the classification and measurement of potentially redeemable securities as of June 30, 2014.  In August 2014, these redemption features were eliminated.  Accordingly, such amounts have been reclassified from mezzanine to shareholders’ equity (deficit) as of December 31, 2014.
	Each Preference Share automatically converted into one ordinary share on completion of the Company’s initial public offering.

Ordinary_Shares

Ordinary Shares	6 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Ordinary Shares	6. Ordinary Shares
	The Company’s Memorandum and Articles of Association as of December 31, 2014 authorized 20,000,000 ordinary shares with a $0.125 nominal value per ordinary share. As of December 31, 2014 and June 30, 2014, there were 1,232,702 and 1,268,810 ordinary shares outstanding, respectively, which included zero and 254,680 ordinary shares subject to limited recourse loans, respectively.

Fair_Value_Measurement

Fair Value Measurement	6 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Fair Value Measurement	7. Fair Value Measurement
	Assets and liabilities carried at fair value on a recurring basis as of December 31, 2014 and June 30, 2014, including financial instruments, which the Company accounts for under the fair value option, are summarized in the following tables.
	31-Dec-14	Level 1		Level 2		Level 3		Assets/
								Liabilities at
								Fair Value
		(in thousands)
	Assets
	Cash	$	21,665	$	—	$	—	$	21,665
	30-Jun-14	Level 1		Level 2		Level 3		Assets/
								Liabilities at
								Fair Value
	Assets
	Cash	$	30,041	$	—	$	—	$	30,041
	Liabilities
	Warrants	$	—	$	—	$	5,435	$	5,435
	In September 2014 the warrants were transferred out of level 3 due to the change in organizational structure, which resulted in the warrants no longer being valued at fair value. There were no other transfers between the levels within the reporting period.

Net_Loss_Per_Share

Net Loss Per Share	6 Months Ended
	Dec. 31, 2014
Earnings Per Share [Abstract]
Net Loss Per Share	8. Net Loss Per Share
	The calculation of net loss per participating securities (“EPS”) for the three months ended December 31, 2014 and 2013 and the six months ended December 31, 2014 and 2013 is presented below. For more information on the calculation of EPS, see Note 2.
		Three Months Ended						Six Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
		(in thousands, except share and per share amounts)
	Net loss	$	(2,413	)	$	(993	)	$	(4,710	)	$	(2,009	)
	Weighted-average ordinary shares issued and		1,198,828			1,000,000			1,138,520			1,000,000
	outstanding—basic and diluted
	Net loss per ordinary share—basic and diluted	$	(2.01	)	$	(0.99	)	$	(4.14	)	$	(2.01	)
	The following ordinary share equivalents were excluded from the calculation of diluted net loss per share for the periods ended on the dates indicated because including them would have an anti-dilutive effect:
		Three Months Ended						Six Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
		(in thousands, except share and per share amounts)
	Preference Shares		5,937,160			1,737,132			5,937,160			1,737,132
	Share-based awards		477,392			—			477,392			—
	Warrants		1,766,998			—			1,766,998			—
	Shares subject to limited recourse loans (see Note 9)		—			264,386			—			264,386
	Total		8,181,550			2,001,518			8,181,550			2,001,518
	Unaudited basic and diluted net loss per share for the three months ended December 31, 2014 and 2013 and the six months ended December 31, 2014 and 2013 are computed using the weighted-average number of ordinary shares outstanding after giving effect to the conversion of all Preference Shares into ordinary shares as if such conversion had occurred at the beginning of the period presented, or the date of original issuance, if later. Outstanding share options, restricted share units and warrants were excluded from the calculation of net loss per share because including them would have had an anti-dilutive effect.

Share_Based_Awards

Share Based Awards	6 Months Ended
	Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Awards	9. Share-Based Awards
	As permitted by Australian law, the Company’s board of directors has historically granted share options and restricted share units with an exercise or conversion price, as applicable, of zero to recipients in Australia. Contemporaneously with these awards and based upon information available at the time of grant, the Company’s board of directors, with the assistance of management, also determined the fair value of the shares underlying these share options for financial reporting purposes. To determine the best estimate of the fair value of the Company’s ordinary shares at each grant date, the Company’s board of directors considered numerous factors, including contemporaneous third-party valuations, current business conditions and projections, risks inherent to the development of the Company’s research and development programs, including the status of pivotal safety and efficacy studies for its lead product candidates, the Company’s financial condition, the Company’s need for future financing to fund its research and development efforts and the commercialization of its lead product candidates, and other relevant factors.
	2012 Employee Share Option Plan
	In August 2012, the Company’s board of directors adopted the Company’s Employee Share Option Plan (the “2012 Plan”). Pursuant to the 2012 Plan, the Company issued 264,386 ordinary shares at a purchase price of $4.20 per share to employees (including executive officers), consultants and each member of the Company’s board of directors who could purchase such ordinary shares with an interest-free, limited recourse loan payable to the Company. These limited recourse loans were not collateralized and were not recourse to the assets of the borrower, except to the extent of the ordinary shares issued. Because the loans were the sole consideration for the shares issued, the Company accounted for these arrangements as share options since the substance is similar to the grant of an option, with a deemed exercise price equal to the loan amount. The fair value of the notional share options was expensed in fiscal year 2013 when vested with a corresponding credit to additional paid-in capital.
	The limited recourse loans were repayable within 30 days of the termination of service to the Company of the employee, director or consultant. Failure to pay back the loan within that time frame would have resulted in the relinquishment of those shares by the shareholder. The balance of loans outstanding as of December 31, 2014 was zero and as of June 30, 2014 was $1.0 million. As discussed in Note 2, the Company has not recognized a separate receivable for limited recourse loans.
	The 2012 Plan is no longer in use.  Between June 30, 2014 and December 31, 2014, all of the limited recourse loans were either repaid in cash or satisfied by the repurchase by the Company of certain ordinary shares issued subject to such loans at a purchase price of $6.35 per ordinary share.  The Company issued to each former holder of such ordinary shares an option to purchase a number of ordinary shares equal to the number of ordinary shares repurchased with an exercise price of $6.35 per ordinary share.  The new options expire in February 2018, consistent with the original repayment date of the loan.  With respect to Dr. Heffernan, his $0.3 million loan amount was satisfied with a repurchase by the Company of 52,040 ordinary shares held by him and the grant to him of an option to purchase 52,040 ordinary shares.  With respect to Dr. Gearing, his $0.3 million loan amount was satisfied with a repurchase by the Company of 46,372 ordinary shares held by him and the grant to him of an option to purchase 46,372 ordinary shares.
	2013 Long Term Incentive Plan
	In September 2013, the Company’s board of directors approved a long-term incentive plan for its employees (including executive officers), directors and consultants pursuant to which in November 2013 the Company issued share options to purchase 215,799 ordinary shares and restricted share units to acquire 29,214 ordinary shares to employees, directors and consultants. The underlying ordinary shares had a fair value of $5.15 per share, but the awards had an exercise or conversion price, as applicable, of zero, as permitted under Australian law. Because Irish law requires the payment to an issuer of at least the nominal value of shares in order to acquire such shares from the issuer, any options or restricted share units with a zero exercise or conversion price became exercisable or convertible, as applicable, at the nominal value per ordinary share in August 2014 in anticipation of the Irish Exchange. This nominal value became $0.10 per ordinary share in September 2014 in connection with the Irish Exchange and was revised to $0.125 per ordinary share in connection with the four-for-five share consolidation in November 2014. In September 2014, the Company also issued share options to purchase 16,800 ordinary shares and restricted share units to acquire 21,240 ordinary shares to employees, directors and consultants. The underlying ordinary shares had a fair value of $6.35 per ordinary share, but the awards had an exercise or conversion price of the nominal value of $0.10 per ordinary share, which nominal value became $0.125 per ordinary share in connection with the four-for-five share consolidation in November 2014. Except for share options and restricted share units held by directors (which vested either beginning in September 2014 and quarterly thereafter or in November 2014), share options and restricted share units held by employees and consultants vested or will vest, as applicable, in three equal tranches in November 2014, November 2015 and November 2016. The Company revised this plan in September 2014 and refers to this plan as its “2013 Plan.”
	The 2013 Plan was terminated in connection with the Company’s initial public offering.  The 2013 Plan will continue to govern outstanding awards granted thereunder.  Appropriate adjustments will be made in the number of authorized ordinary shares and other numerical limits in the 2013 Plan and in outstanding awards to prevent dilution or enlargement of participants’ rights in the event of a share split or other change in the Company’s capital structure.
	The 2013 Plan is administered by the Company’s board of directors.  All awards are evidenced by a written agreement between the Company and the holder of the award.  The board of directors has the authority to construe and interpret the terms of the 2013 Plan and awards granted under the 2013 Plan.
	In the event of a change of control as described in the 2013 Plan, the acquiring or successor entity may assume or continue all or any awards outstanding under the 2013 Plan or substitute substantially equivalent awards.  Any awards which are not assumed or continued in connection with a change of control or are not exercised or settled prior to the change of control will terminate effective as of the time of the change of control.  The board of directors may provide for the acceleration of vesting of any or all outstanding awards upon such terms and to such extent as it determines, except that the vesting of all awards held by members of the board of directors who are not employees will automatically be accelerated in full.  The 2013 Plan also authorizes the board of directors, in its discretion and without the consent of any participant, to cancel each or any outstanding award denominated in ordinary shares upon a change of control in exchange for a payment to the participant with respect to each share subject to the cancelled award of an amount equal to the excess of the consideration to be paid per ordinary share in the change of control transaction over the exercise price per ordinary share, if any, under the award.
	Share Awards to Consultants or Advisors for Services Provided
	In November 2013, the Company entered into an agreement with a financial advisor for the provision of certain financial services. Pursuant to the agreement, the financial advisor elected to receive payment of fees in ordinary shares. In November 2013, the Company issued 8,849 SIRPS Preference Shares at $5.18 per share to the financial advisor.
	Related Party Transactions
	Dr. Andrew Gearing is a former director, a co-founder of the Company and a brother of David Gearing, a co-founder of the Company and its Chief Scientific Officer.  Dr. Andrew Gearing serves on the board of directors of Biocomm Squared Pty Ltd.  In August 2013, the Company entered into a consulting agreement with Biocomm Squared Pty Ltd for research and development support services.  This agreement was superseded by a new consulting agreement in December 2013, which was amended in April 2014.  The Company recorded research and development expense of $62,000, $54,000, $115,000 and $79,000 for the three and six months ended December 31, 2014 and 2013, respectively, related to these agreements. As of December 31, 2014 and June 30, 2014, there was $18,000 and $23,000 payable to Biocomm Squared Pty Ltd, respectively.
	Ridge Biotechnology Consulting, LLC is owned and operated by Dr. Robert Gearing, the brother of David Gearing, a co-founder of the Company and its Chief Scientific Officer.  In October 2010, the Company entered into a consulting agreement with Ridge Biotechnology Consulting, LLC for the provision of services to the Company.  The agreement was superseded by agreements entered into in April 2011 and April 2012, and a new consulting agreement with Ridge Biotechnology Consulting, LLC was entered into in January 2014.  The Company recorded general and administrative expense of $67,000, $32,000, $100,000 and $41,000 in three and six months ended December 31, 2014 and 2013, respectively, related to these agreements. As of December 31, 2014 and June 30, 2014, there was $19,000 and $19,000 payable to Ridge Biotechnology Consulting, LLC, respectively. Dr. Robert Gearing was also a party to a 2012 agreement with the Company pursuant to which the Company issued Dr. Gearing 4,424 ordinary shares in fiscal year 2014 and 6,250 ordinary shares in fiscal year 2013, with an aggregate value of $48,000, for arranging certain research and development services.
	Peter Howard is a former director of the Company. In July 2011, the Company entered into a consultancy agreement with Mr. Howard for financial advisory services. The Company recorded expense of $27,000, $7,000, $27,000 and $14,000, for the three and six months ended December 31, 2014 and 2013, respectively, related to this agreement.
	Dr. Paul Wood is a former director of the Company. In May 2013, the Company entered into a consultancy agreement with Dr. Wood for consulting services. The Company recorded expense of $6,000, $3,000, $9,000 and $24,000 for the three and six months ended December 31, 2014 and 2013, respectively, related to this agreement.

Valuation_of_Share_Awards

Valuation of Share Awards	6 Months Ended
	Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Valuation of Share Awards	10. Valuation of Share Awards
	The fair value of each share option is estimated on the date of grant using the binomial option-pricing model. The Company historically has been a private company and lacks company-specific historical and implied volatility information. Therefore, it estimates its expected share volatility based on the historical volatility of its publicly traded peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded share price. The expected term of the Company’s share options has been determined utilizing the “simplified” method as the Company has insufficient historical experience for share options overall, rendering existing historical experience irrelevant to expectations for current grants. The risk-free interest rate is determined by reference to the appropriate reserve bank yield in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future. The fair value of the underlying ordinary shares considered the price per share paid by investors in the Company’s private financings, including the Series B Preference Shares in May 2014. The fair value of the share options was estimated using the following assumptions:
		Six Months Ended				Year Ended
		December 31, 2014				June 30, 2014
	Fair value per ordinary share	$6.35 - $9.50				$5.15
	Risk free interest rate		1.70%				4.00%
	Expected term (in years)	5 years				5-10 years
	Expected volatility		80%				80%
	Expected dividend yield	zero				zero
	The following table summarizes share option activity for fiscal year 2014 and the six months ended December 31, 2014:
		Shares				Weighted-		Weighted-		Aggregate
		Issuable				Average		Average		Intrinsic
		Under				Exercise		Remaining		Value
		Options				Price		Contractual		(in thousands)
								Term
								(in years)
	Outstanding as of June 30, 2013		264,386			$	4.2		5	$	708
	Granted		215,799				0.125		4.75		1,115
	Exercised		—				—		—		—
	Ordinary shares no longer subject to limited recourse loans		(9,706	)	-1		4.2		5		(26	)
	Expired or forfeited		—				—		—		—
	Outstanding as of June 30, 2014		470,479			$	2.33		5	$	1,797
	Granted		303,661			$	3.1		5	$	3,431
	Exercised		(92,940	)			0.125		5		(13	)
	Ordinary shares no longer subject to limited recourse loans		(109,611	)	-1		4.2		5		(460	)
	Repurchased		(145,069	)	-1		6.35		5		(222	)
	Expired or forfeited		—				—		—		—
	Outstanding as of December 31, 2014		426,520			$	2.31		5	$	4,533
	Options vested and expected to vest, as of June 30, 2013		—			$	—
	Options vested and expected to vest, as of June 30, 2014		6,195			$	0.125
	Options vested and expected to vest, as of December 31, 2014		158,137			$	5.84
	(1) Reflects ordinary shares issued subject to limited recourse loans. See Note 9.
	The aggregate intrinsic value of share options is calculated as the difference between the exercise price of the share options and the fair value of the Company’s ordinary shares for those share options that had exercise prices lower than the fair value of the Company’s ordinary shares.
	In addition to the share options described above, the Company has granted restricted share units to its directors, employees and consultants. Restricted share units are valued at the fair value of the underlying ordinary shares as of the date of grant. The fair value of the ordinary shares issuable upon conversion of restricted share units considered the price per share paid by investors in the Company’s private financings, including the SIRPS Preference Shares in July 2013. The ordinary shares subject to the restricted share units are generally issued when they vest. The table below presents the Company’s restricted share unit activity for fiscal year 2014 and the six months ended December 31, 2014:
		Number of				Weighted		Weighted		Aggregate
		Restricted				Average		Average		Intrinsic
		Share Units				Grant Date		Remaining		Value
						Fair Value		Contractual		(in thousands)
								Term
								(in years)
	Outstanding as of June 30, 2013		—			$	—		—	$	—
	Granted		29,214				5.15		2.1		151
	Converted		—				—		—		—
	Forfeited		—				—		—		—
	Outstanding as of June 30, 2014		29,214			$	5.15		2.1	$	151
	Granted		37,667			$	7.72	$	2.2	$	286
	Converted		(16,009	)			5.31		—		(85	)
	Forfeited		—				—		—		—
	Outstanding as of December 31, 2014		50,872				7.01		1.9	$	352
	Converted and expected to convert, as of June 30, 2013		—			$	—
	Converted and expected to convert, as of June 30, 2014		—			$	—
	Converted and expected to convert, as of December 31, 2014		3,700			$	6.35
	As of December 31, 2014 and June 30, 2014, the Company had approximately $2.4 million and $0.1 million, respectively, of unrecognized compensation expense related to unvested restricted share units, which is expected to be recognized over a weighted average period of 1.9 years and 2.4 years, respectively.
	Share-Based Compensation
	The Company recognizes share-based compensation expense for only the portion of awards that are expected to vest. In developing a forfeiture rate estimate, the Company has considered its historical experience to estimate pre-vesting forfeitures for service-based awards. The impact of a forfeiture rate adjustment will be recognized in full in the period of adjustment, and if the actual forfeiture rate is materially different from the Company’s estimate, the Company may be required to record adjustments to share-based compensation expense in future periods.
	The Company recorded share-based compensation expense related to share options and restricted share units for the three and six months ended December 31, 2014 and 2013 as follows:
		Three Months Ended						Six Months Ended
		December 31,						December 31,
		2014				2013		2014		2013
		(in thousands)
	Research and development	$	131			$	—	$	173	$	—
	General and administrative		212				27		365		27
	Total	$	343			$	27	$	538	$	27
	The Company had an aggregate of $2.4 million and $1.0 million, respectively, of unrecognized share-based compensation expense for share options and restricted share units outstanding as of December 31, 2014 and June 30, 2014, which is expected to be recognized over an estimated period of 3.0 years and 2.4 years, respectively, for share options and restricted share units under the 2013 Plan.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2014
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies
	Indemnities and Guarantees
	The Company has made certain indemnities and guarantees, under which it may be required to make payments to a guaranteed or indemnified party, in relation to certain transactions. The Company indemnifies its officers and directors to the maximum extent permitted under the laws of Ireland. The duration of these indemnities and guarantees varies and, in certain cases, is indefinite. These indemnities and guarantees do not provide for any limitation of the maximum potential future payments the Company could be obligated to make. Historically, the Company has not been obligated to make any payments for these obligations and no liabilities have been recorded for these indemnities and guarantees in the accompanying balance sheets.
	As of December 31, 2014, future payments under non-cancellable operating leases (associated with office space) and purchase obligations (associated with suppliers of goods and services) were as follows:
		Total		Less than		3-Jan		5-Mar		After 5
				1 Year		Years		Years		Years
		(in thousands)
	Operating leases	$	372	$	86	$	230	$	56	$	—
	Purchase obligations		898		898		—		—		—
	Total	$	1,270	$	984	$	230	$	56	$	—

Subsequent_Events

Subsequent Events	6 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events
	In February 2015, the Company’s the 2015 Equity Incentive Plan (the “2015 Plan”) became effective.  The 2015 Plan is intended to allow the Company to provide incentives that will assist it to attract, retain and motivate employees, including officers, consultants and directors.  The Company may provide these incentives through the grant of share options, restricted share units, performance shares and units and other cash-based or share-based awards.  A total of 1,280,000 of the Company’s ordinary shares are initially authorized and reserved for issuance under the 2015 Plan.
	In February 2015, the Company closed its initial public offering of 4.0 million ordinary shares at a price to the public of $10.00 per share.  In March 2015, the underwriters partially exercised their over-allotment option and purchased an additional 0.2 million shares. Following the sales of these securities, the Company received aggregate gross proceeds of $41.8 million and net proceeds of $36.0 million, after deducting the underwriting discount of $2.9 million and estimated offering expenses of $2.8 million payable by the Company.  Upon the initial closing, all Preference Shares were converted to ordinary shares.  The Company’s ordinary shares are listed on the Nasdaq Global Market under the symbol “NVET.”
	In addition, upon the initial closing of the Company’s initial public offering:
	·	Mr. Rajiv Patel was appointed to the board of directors;
	·	all existing shareholder agreements terminated; and
	·	an amended and restated Memorandum and Articles of Association became effective for the Company.
	In March 2015, the Company received the results of a sample size reassessment for its NV-01 pivotal safety and efficacy study. The results indicated that, in order to have a high probability of a statistically significant endpoint at the day 28 primary assessment, it will be necessary to increase the current size of the study.  The results also indicated that placebo was not superior to NV-01 with regard to treatment success and that it was not necessary to increase the number of NV-01 treated dogs to potentially over 1,000 participants.  The Company is meeting with regulatory authorities to discuss the results of the sample size reassessment.  The Company is considering the optimal size for the study but currently intends to continue recruiting dogs for the study as planned.  The Company is assessing the impact of time, cost, and related logistical issues regarding the feasibility of substantially increasing the number of dogs in the current study, or initiating additional studies.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation
	The accompanying interim condensed consolidated financial statements of the Company include the operations of all its wholly-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Such operations include the Company, Nexvet Australia, NVIP Pty Limited, Nexvet UK Limited and Nexvet US, Inc. All intercompany balances and transactions have been eliminated in consolidation. The Company’s fiscal year ends on June 30, and references to any fiscal year are to the Company’s year ended June 30 in that year.
Unaudited Interim Financial Information	Unaudited Interim Financial Information
	The accompanying interim condensed consolidated financial statements and related disclosures as of December 31, 2014 and for the three and six months ended December 31, 2014 and 2013 are unaudited and have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of December 31, 2014 and the results of its operations and comprehensive loss and its cash flows for the three and/or six months ended December 31, 2014 and 2013.  The financial data and other information disclosed in these notes related to the three and/or six months ended December 31, 2014 and 2013 are unaudited. The results for the three and six months ended December 31, 2014 and 2013 are not necessarily indicative of results to be expected for a full year, any other interim periods or any future year or period.
	These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes as of and for the year ended June 30, 2014 included in Company’s registration statement on Form S‑1 (Registration No. 333-201309) filed pursuant to rule 424(b) on February 5, 2015 with the SEC.  The condensed consolidated balance sheet data as of June 30, 2014 was derived from audited consolidated financial statements.
Use of Estimates	Use of Estimates
	The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include research and development incentive income, research and development accruals, share-based payments, valuation of warrants, options and restricted share units and deferred income taxes. Actual results could differ from those estimates.
Net Loss Per Share	Net Loss Per Share
	Net loss per share information is determined using the two-class method, which includes the weighted-average number of ordinary shares outstanding during the period and other securities that participate in dividends (a participating security). The Company’s convertible preference shares are participating securities as defined by Accounting Standards Codification (“ASC”) Topic 260-10, Earnings Per Share. Net loss per share disclosures for all periods have been revised to give effect to the share consolidations that took place in the reporting period.
	Under the two-class method, basic net loss per share applicable to ordinary shareholders is computed by dividing the net loss applicable to ordinary shareholders by the weighted-average number of ordinary shares outstanding for the reporting period.
	Diluted net loss per share gives effect to all potentially dilutive securities, including convertible preference shares and shares issuable upon the exercise or conversion, as applicable, of outstanding warrants, share options and restricted share units, using the treasury shares method. For the three and six months ended December 31, 2014 and 2013, the Company has excluded the effects of all potentially dilutive shares, which include convertible preference shares, warrants to purchase ordinary shares, ordinary share options, restricted share units and the ordinary shares issued subject to limited recourse loans, from the weighted-average number of ordinary shares outstanding as their inclusion in the computation for all periods would be anti-dilutive due to net losses.
Cash	Cash
	As of December 31, 2014 and June 30, 2014, the Company’s cash consisted of cash deposited in a business operating account or in short-term deposit accounts of less than 90 days’ duration.
Concentration of Credit Risk and Other Risks and Uncertainties	Concentration of Credit Risk and Other Risks and Uncertainties
	The Company receives research and development incentive income and grants from a single source, the Australian government.
	The Company’s cash is deposited with several large commercial banks located in the United States and Australia that are federally insured or guaranteed, limiting the amount of credit exposure to any one financial institution. The Company’s cash balances with these financial institutions often exceed the amount insured.
	The Company is subject to risks common to companies in the biotechnology industry. The Company’s research and development may not be successfully completed, adequate protection for the Company’s technology may not be obtained, any products developed may not obtain necessary government regulatory approval and any approved products may not be commercially viable. The Company operates in an environment of substantial competition from other animal health companies, some of which have substantially more resources at their disposal. In addition, the Company is dependent upon the services of its employees and consultants, as well as third-party contract research organizations and manufacturers.
Fair Value Measurements	Fair Value Measurements
	The Company records certain assets and liabilities at fair value in accordance with the provisions of ASC Topic 820, Fair Value Measurements. As defined in the guidance, fair value, defined as an exit price, represents the amount that would be received to sell an asset or pay to transfer a liability in an orderly transaction between market participants. As a result, fair value is a market-based approach that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering these assumptions, the guidance defines a three-tier value hierarchy that prioritizes the inputs used in the valuation methodologies in measuring fair value.
	·	Level 1—Unadjusted quoted prices in active, accessible markets for identical assets or liabilities.
	·	Level 2—Other inputs that are directly or indirectly observable in the marketplace.
	·	Level 3—Unobservable inputs that are supported by little or no market activity.
	The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
	The Company’s material financial instruments include cash, other income receivables, accrued liabilities and warrants. The carrying amounts of these instruments are considered to be representative of their respective fair values because of the short-term nature of those investments. The Company determined its warrants liability to be Level 3 fair value measurement as of June 30, 2014.
Other Income Receivable	Other Income Receivable
	Other income receivable is recorded at the invoiced amount where available.
	Nexvet Australia is eligible under the AusIndustry research and tax development tax incentive program to obtain a cash amount from the Australian Taxation Office (“ATO”). The tax incentive is available to Nexvet Australia on the basis of specific criteria with which Nexvet Australia must comply. Specifically, Nexvet Australia must have revenue of less than A$20 million and cannot be controlled by income tax exempt entities. Tax incentives are classified as other income receivable.
Foreign Currency	Foreign Currency
	Items included in the Company’s condensed consolidated financial statements are measured using the currency of the primary economic environment in which the Company operates, referred to as the functional currency. Financial statements of companies operating outside the United States generally are measured using the local currency as the functional currency. Adjustments to translate those statements into United States dollars are recorded in other comprehensive income (loss) (“OCI”) as a net change in foreign currency translation. Non-cash currency translation adjustments in accumulated OCI were primarily related to a translation of U.S. dollar-denominated bank accounts from Nexvet Australia’s Australian dollar functional currency to U.S. dollars.
	Foreign currency transactions are translated into the functional currency using the current exchange rate. For assets and liabilities, the exchange rate at the balance sheet date is used. For revenue and expenses and gains and losses, a weighted-average exchange rate for the period is used to translate those elements. The reporting currency of these condensed consolidated financial statements is U.S. dollars. These losses and gain relate to a translation of U.S. dollar-denominated bank accounts into the Company’s Australian dollar functional currency and are included in other income (expense).
	Under U.S. GAAP, there is no offset of these two exchange-related items within the condensed consolidated statements of operations and comprehensive loss. Net loss and associated calculations are impacted by this treatment.
Warrants	Warrants
	The Company’s liabilities primarily consist of warrants that were issued to investors and financial advisors in connection with private placements of the Company’s securities in May 2014. The warrants permit the holders to purchase ordinary shares at exercise prices of $8.625 and $7.50 per share on or before May 2019. Because the warrants may be net exercised and are exercisable in U.S. dollars, and the functional currency of Nexvet Australia, the original issuer of the warrants, is Australian dollars, they were classified as a liability as of June 30, 2014 and were reclassified to shareholders’ equity in September 2014 following the Irish Reorganization (in which the original warrants were exchanged for warrants issued by the Company) and the change in the functional currency of the Company to U.S. dollars.
	Warrants recorded as liabilities ($5.4 million as of June 30, 2014) are valued at fair value using the binomial option-pricing model and the expected term based on management’s best estimate, for the effects of non-transferability, exercise restrictions and behavioral considerations. At applicable balance sheet dates, the outstanding warrants were revalued to their then-current fair value, with the difference in fair value recorded in the condensed consolidated statements of operations and comprehensive loss.
	Warrants are classified within Level 3 of the fair value hierarchy wherein fair value is estimated using significant unobservable inputs. The significant assumptions used in estimating the fair value of the warrants include the estimated fair value of the underlying shares, exercise price, volatility of the shares underlying the warrant and the expected term of the warrant. The fair value of the underlying ordinary shares was estimated by reference to the price per share paid by investors for the Company’s Series B preference shares in May 2014. The fair values of the warrants were estimated using the following assumptions:
			June 30,
			2014
	Fair value per ordinary share		$6.35
	Risk free interest rate			1.70%
	Expected term (in years)		4 years
	Expected volatility			75%
	Expected dividend yield		Zero
	There were warrants to purchase 1,766,998 ordinary shares issued during fiscal year 2014 and no warrants issued during the six months ended December 31, 2014.
	The Company reclassified the warrants to shareholders’ equity (deficit) in additional paid-in capital in September 2014 following the Irish Reorganization and the change in the Company’s functional currency to U.S. dollars.
Income Taxes	Income Taxes
	The Company has historically filed income tax returns in Australia and the United States and in the future also expects to file tax returns in Ireland.
	The Company applies ASC Topic 740, Income Taxes, which establishes financial accounting and reporting requirements for the effects of income taxes that result from the Company’s activities during the current and preceding years. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities on their respective tax bases, and operating losses and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted statutory tax rates expected to apply to taxable income in the jurisdictions and years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date.
	When the Company determines that it is more likely than not that some portion or all of the deferred tax assets will not be realized in the future, the deferred tax assets are reduced by a valuation allowance. The valuation allowance is sufficient to reduce the deferred tax assets to the amount that the Company determines is more likely than not to be realized.
Research and Development Expense	Research and Development Expense
	Research and development costs are expensed as incurred and consist primarily of (i) payroll and related expense for all employees engaged in scientific research and development functions, including wages, related benefits and share-based compensation, (ii) fees for regulatory, professional and other consultants and (iii) development costs, including costs of drug discovery, safety, proof-of-concept and pivotal safety and efficacy studies, development of biological materials and service providers. The Company is currently pursuing its NV-01, NV-02 and NV-08 lead product candidates and typically uses its employee and infrastructure resources across multiple development programs. The Company tracks outsourced development costs by lead product candidates but does not allocate personnel or other internal costs related to development to specific product candidates.
General and Administrative Expense	General and Administrative Expense
	General and administrative expense consists primarily of non-research and development-related payroll and related expense for employees, consultants and directors, including wages, related benefits and share-based compensation. General and administrative expense also includes professional and consulting fees for legal, accounting, tax services and other general business services, as well other expenses such as travel, rent and facilities costs.
Other Income (Expense)	Other Income (Expense)
	Nexvet Australia is eligible under the AusIndustry research and development tax incentive program to obtain a cash amount from the ATO. The tax incentive is available to Nexvet Australia on the basis of specific criteria with which Nexvet Australia must comply. Although the tax incentive is administered through the ATO, the Company has accounted for the tax incentive outside the scope of ASC Topic 740, Income Taxes, as an income tax benefit since Nexvet Australia meets the applicable requirements to participate in the program and the incentive is not linked to Nexvet Australia’s income tax liability and can be realized regardless of whether Nexvet Australia has generated taxable income. Research and development incentive income is recognized when the research and development activities have been undertaken and the Company has completed its assessment of whether such activities meet the relevant qualifying criteria.
	The Company recognizes government grant income at the fair value of the grant when it is received and all substantive conditions have been satisfied. When the grant relates to an expense item, it is recognized as income over the periods necessary to match the grant on a systematic basis to the costs that it is intended to compensate.
	Exchange (loss) gain consists primarily of losses or gains due to foreign exchange translation, primarily reflecting changes in Australian and U.S. foreign exchange rates. Under U.S. GAAP, these items relate to a translation of U.S. dollar-denominated bank accounts into Nexvet Australia’s Australian dollar functional currency and represent a non-cash item.
Comprehensive Loss	Comprehensive Loss
	Comprehensive loss is defined as the total change in shareholders’ equity (deficit) during the period other than from transactions with shareholders, which for the Company includes net change in foreign currency translation adjustments.
Share-Based Compensation	Share-Based Compensation
	The Company’s share-based compensation plan (see Note 9) provides for the grant of share options, restricted share units and other share-based awards. The fair value of share options is determined as of the date of grant using the binomial option-pricing model. This method incorporates the fair value of the Company’s ordinary shares at the date of each grant and various assumptions such as the risk-free interest rate, expected volatility based on the historic volatility of peer companies, expected dividend yield, and expected term of the share option. Restricted share units are valued at the fair value of the underlying ordinary shares as of the date of grant. To date, the Company has granted options to purchase ordinary shares with an exercise price of their nominal value of $0.125 per ordinary share and restricted share units to acquire ordinary shares with a conversion price of the nominal value of $0.125 per ordinary share on the date of grant. The Company classifies share-based compensation expense in the statements of operations and comprehensive loss in the same manner in which the award recipient’s payroll costs are classified.
	Equity instruments issued to non-employees, including consultants, are accounted for in accordance with Financial Accounting Standards Board (“FASB”) guidance. All transactions in which services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date of the fair value of the equity instrument issued is the earlier of the date on which the counterparty’s performance is complete or the date on which it is probable that performance will occur.
	For transactions where the fair value of the equity instrument issued to non-employees is the more reliable measurement and a measurement date has not been reached, the fair value is re-measured at each balance sheet date using the binomial option-pricing model. Compensation expense for these share-based awards is recognized over the term of the consulting agreement or until the award is approved and settled.
Segment Data	Segment Data
	The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Company is a clinical stage biopharmaceutical company focusing on developing therapies for companion animals. As of December 31, 2014 and June 30, 2014, all major assets were held in Australia.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements
	The Company has early adopted the provisions of Accounting Standards Update (“ASU”) No. 2014-10, Elimination of Certain Financial Requirements, Including an Amendment to Variable Interest Entities Guidance Topic in Topic 810, Consolidation, starting in fiscal year 2014.  In June 2014, the FASB issued guidance removing the definition of a development stage entity from the Master Glossary of the ASC, thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP.  This guidance also eliminates an exception provided to development stage entities in ASC Topic 810, Consolidation, for determining whether an entity is a variable interest entity on the basis of the amount of the investment equity that is at risk.  On adoption, the Company was not required to present or disclose any information required by ASC Topic 915, Development Stage Entities.
	Recently Issued Accounting Pronouncements
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. This guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance also requires an entity to disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about:
	·	Contracts with customers—including revenue and impairments recognized, disaggregation of revenue and information about contract balances and performance obligations (including the transaction price allocated to the remaining performance obligations).
	·	Significant judgments and changes in judgments—determining the timing of satisfaction of performance obligations (over time or at a point in time), and determining the transaction price and amounts allocated to performance obligations.
	·	Certain assets—assets recognized from the costs to obtain or fulfill a contract.
	This guidance will be effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company is currently evaluating the impact that this guidance will have on the Company’s condensed consolidated results of operations, financial position and cash flows.
	In June 2014, the FASB issued ASU 2014-12, Compensation—Stock Compensation. This guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply the existing guidance in ASC Topic 718, Compensation-Stock Compensation, as it relates to awards with performance conditions that affect vesting to account for such awards. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. This guidance will be effective for annual reporting periods beginning after December 15, 2015. The Company is currently evaluating the impact that this guidance will have on the Company’s condensed consolidated results of operations, financial position and cash flows.
	In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40).  This guidance defines management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures.  Under the guidance, management is required to evaluate, for each annual and interim reporting period, whether it is probable that the entity will not be able to meet its obligations as they become due within one year after the date that the financial statements are issued or are available to be issued. When management identifies substantial doubt about the entity’s ability to continue as a going concern, additional disclosures are required.  This guidance will be effective for annual reporting periods beginning after December 15, 2016.  The Company does not expect the adoption of this guidance to have a material impact on the Company’s financial condition, results of operations or cash flows.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Assumptions Used to Estimate Fair Values of Warrants	The fair values of the warrants were estimated using the following assumptions:
		June 30,
		2014
	Fair value per ordinary share	$6.35
	Risk free interest rate		1.70%
	Expected term (in years)	4 years
	Expected volatility		75%
	Expected dividend yield	Zero

Accrued_Expenses_Tables

Accrued Expenses (Tables)	6 Months Ended
	Dec. 31, 2014
Payables And Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following as of the dates indicated:
		December 31,		June 30,
		2014		2014
		(in thousands)
	Accrued payroll and related expenses	$	573	$	502
	Accrued professional fees		956		355
	Accrued research and development costs		653		1,442
	Accrued expenses	$	2,182	$	2,299

Warrants_Tables

Warrants (Tables)	6 Months Ended
	Dec. 31, 2014
Warrants And Rights Note Disclosure [Abstract]
Schedule of Warrants		December 31,		June 30,
		2014		2014
		(in thousands)
	Warrants	$	—	$	5,435

Convertible_Preference_Shares_

Convertible Preference Shares (Tables)	6 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Schedule of Convertible Preference Shares	Preference Shares consisted of the following as of December 31, 2014 and June 30, 2014:
	December 31, 2014	Preference		Liquidation		Carrying
		Shares		Preference		Value
		Issued and
		Outstanding
				(in thousands)
	SIRPS Preference Shares		1,737,144	$	16,353	$	8,177
	Series B Preference Shares		4,200,016		51,298		25,649
			5,937,160	$	67,651	$	33,826
	June 30, 2014	Preference		Liquidation		Carrying
		Shares		Preference		Value
		Issued and
		Outstanding
				(in thousands)
	SIRPS Preference Shares		1,737,132	$	16,353	$	8,177
	Series B Preference Shares		4,200,006		51,298		25,649
			5,937,138	$	67,651	$	33,826

Fair_Value_Measurement_Tables

Fair Value Measurement (Tables)	6 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities carried at fair value on a recurring basis as of December 31, 2014 and June 30, 2014, including financial instruments, which the Company accounts for under the fair value option, are summarized in the following tables.
	31-Dec-14	Level 1		Level 2		Level 3		Assets/
								Liabilities at
								Fair Value
		(in thousands)
	Assets
	Cash	$	21,665	$	—	$	—	$	21,665
	30-Jun-14	Level 1		Level 2		Level 3		Assets/
								Liabilities at
								Fair Value
	Assets
	Cash	$	30,041	$	—	$	—	$	30,041
	Liabilities
	Warrants	$	—	$	—	$	5,435	$	5,435

Net_Loss_Per_Share_Tables

Net Loss Per Share (Tables)	6 Months Ended
	Dec. 31, 2014
Earnings Per Share [Abstract]
Calculation of Net Loss Per Participating Securities	The calculation of net loss per participating securities (“EPS”) for the three months ended December 31, 2014 and 2013 and the six months ended December 31, 2014 and 2013 is presented below. For more information on the calculation of EPS, see Note 2.
		Three Months Ended						Six Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
		(in thousands, except share and per share amounts)
	Net loss	$	(2,413	)	$	(993	)	$	(4,710	)	$	(2,009	)
	Weighted-average ordinary shares issued and		1,198,828			1,000,000			1,138,520			1,000,000
	outstanding—basic and diluted
	Net loss per ordinary share—basic and diluted	$	(2.01	)	$	(0.99	)	$	(4.14	)	$	(2.01	)
Ordinary Share Equivalents Excluded from Calculation of Diluted Net Loss Per Share	The following ordinary share equivalents were excluded from the calculation of diluted net loss per share for the periods ended on the dates indicated because including them would have an anti-dilutive effect:
		Three Months Ended						Six Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
		(in thousands, except share and per share amounts)
	Preference Shares		5,937,160			1,737,132			5,937,160			1,737,132
	Share-based awards		477,392			—			477,392			—
	Warrants		1,766,998			—			1,766,998			—
	Shares subject to limited recourse loans (see Note 9)		—			264,386			—			264,386
	Total		8,181,550			2,001,518			8,181,550			2,001,518

Valuation_of_Share_Awards_Tabl

Valuation of Share Awards (Tables)	6 Months Ended
	Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Estimated Fair Value of Share Options	The fair value of the share options was estimated using the following assumptions:
		Six Months Ended				Year Ended
		December 31, 2014				June 30, 2014
	Fair value per ordinary share	$6.35 - $9.50				$5.15
	Risk free interest rate		1.70%				4.00%
	Expected term (in years)	5 years				5-10 years
	Expected volatility		80%				80%
	Expected dividend yield	zero				zero
Summary of Share Option Activities	The following table summarizes share option activity for fiscal year 2014 and the six months ended December 31, 2014:
		Shares				Weighted-		Weighted-		Aggregate
		Issuable				Average		Average		Intrinsic
		Under				Exercise		Remaining		Value
		Options				Price		Contractual		(in thousands)
								Term
								(in years)
	Outstanding as of June 30, 2013		264,386			$	4.2		5	$	708
	Granted		215,799				0.125		4.75		1,115
	Exercised		—				—		—		—
	Ordinary shares no longer subject to limited recourse loans		(9,706	)	-1		4.2		5		(26	)
	Expired or forfeited		—				—		—		—
	Outstanding as of June 30, 2014		470,479			$	2.33		5	$	1,797
	Granted		303,661			$	3.1		5	$	3,431
	Exercised		(92,940	)			0.125		5		(13	)
	Ordinary shares no longer subject to limited recourse loans		(109,611	)	-1		4.2		5		(460	)
	Repurchased		(145,069	)	-1		6.35		5		(222	)
	Expired or forfeited		—				—		—		—
	Outstanding as of December 31, 2014		426,520			$	2.31		5	$	4,533
	Options vested and expected to vest, as of June 30, 2013		—			$	—
	Options vested and expected to vest, as of June 30, 2014		6,195			$	0.125
	Options vested and expected to vest, as of December 31, 2014		158,137			$	5.84
	(1) Reflects ordinary shares issued subject to limited recourse loans. See Note 9.
Summary of Restricted Share Unit Activity	The table below presents the Company’s restricted share unit activity for fiscal year 2014 and the six months ended December 31, 2014:
		Number of				Weighted		Weighted		Aggregate
		Restricted				Average		Average		Intrinsic
		Share Units				Grant Date		Remaining		Value
						Fair Value		Contractual		(in thousands)
								Term
								(in years)
	Outstanding as of June 30, 2013		—			$	—		—	$	—
	Granted		29,214				5.15		2.1		151
	Converted		—				—		—		—
	Forfeited		—				—		—		—
	Outstanding as of June 30, 2014		29,214			$	5.15		2.1	$	151
	Granted		37,667			$	7.72	$	2.2	$	286
	Converted		(16,009	)			5.31		—		(85	)
	Forfeited		—				—		—		—
	Outstanding as of December 31, 2014		50,872				7.01		1.9	$	352
	Converted and expected to convert, as of June 30, 2013		—			$	—
	Converted and expected to convert, as of June 30, 2014		—			$	—
	Converted and expected to convert, as of December 31, 2014		3,700			$	6.35
Share Based Compensation Expense Related to Share Options and Restricted Share Units	The Company recorded share-based compensation expense related to share options and restricted share units for the three and six months ended December 31, 2014 and 2013 as follows:
		Three Months Ended						Six Months Ended
		December 31,						December 31,
		2014				2013		2014		2013
		(in thousands)
	Research and development	$	131			$	—	$	173	$	—
	General and administrative		212				27		365		27
	Total	$	343			$	27	$	538	$	27

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2014
Commitments And Contingencies Disclosure [Abstract]
Summary of Future Payments Non-Cancellable Operating Leases and Purchase Obligations	As of December 31, 2014, future payments under non-cancellable operating leases (associated with office space) and purchase obligations (associated with suppliers of goods and services) were as follows:
		Total		Less than		3-Jan		5-Mar		After 5
				1 Year		Years		Years		Years
		(in thousands)
	Operating leases	$	372	$	86	$	230	$	56	$	—
	Purchase obligations		898		898		—		—		—
	Total	$	1,270	$	984	$	230	$	56	$	—

Organization_and_Description_o1

Organization and Description of Business - Addtional Information (Details) (USD $)	1 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Nov. 30, 2014	Aug. 31, 2014	Dec. 31, 2014	Jun. 30, 2014
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Accumulated deficit			-16,508	($11,798)
Cash			21,665	$30,041
Share consolidation, ratio	0.8
Nexvet Biopharma
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Share consolidation, ratio		0.25
Stockholders' Equity, Reverse Stock Split			In August 2014, the Company completed a one-for-four share consolidation. Each holder of ordinary shares and preference shares received one ordinary share or preference share for every four ordinary shares or preference shares held by such holder. The number of ordinary shares that may be acquired upon exercise of options or warrants or upon conversion of restricted share units was similarly reduced on a one-for-four basis, with a proportionate adjustment to the exercise or conversion price, as applicable.
Nexvet Australia Pty Ltd
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Share consolidation, ratio	0.8
Stockholders' Equity, Reverse Stock Split			In November 2014, the Company completed a four-for-five share consolidation. Each holder of ordinary shares and preference shares received four ordinary shares or four preference shares for every five ordinary shares or five preference shares held by such holder. The number of ordinary shares that may be acquired upon exercise of options or warrants on upon conversion of restricted share units was similarly reduced on a four-for-five basis, with a proportionate adjustment to the exercise or conversion price, as applicable.

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Additional Information (Details) (USD $)	6 Months Ended	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2014	31-May-14	Apr. 30, 2014	Jun. 30, 2013
Accounting Policies [Line Items]
Revenues	$20,000,000
Warrants exercise price			$8.63	$7.50
Warrants exercisable date	2019-05
Warrants recorded as liabilities		$5,435,000
Warrants issued to purchase ordinary shares	0	1,766,998
Exercise price per share	$2.31	$2.33			$4.20
Employee Stock Option
Accounting Policies [Line Items]
Exercise price per share	$0.13
Restricted Stock
Accounting Policies [Line Items]
Conversion price per share	$0.13

Summary_of_Significant_Acconti

Summary of Significant Acconting Policies - Assumptions Used to Estimate Fair Values of Warrants (Details) (USD $)	12 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]
Fair value per ordinary share	$6.35
Risk free interest rate	1.70%
Expected term (in years)	4 years
Expected volatility	75.00%
Expected dividend yield	0.00%

Accrued_Expenses_Schedule_of_A

Accrued Expenses - Schedule of Accrued Expenses (Details) (USD $)	Dec. 31, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified
Payables And Accruals [Abstract]
Accrued payroll and related expenses	$573	$502
Accrued professional fees	956	355
Accrued research and development costs	653	1,442
Accrued expenses	$2,182	$2,299

Warrants_Schedule_of_Warrants_

Warrants - Schedule of Warrants (Details) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Warrants And Rights Note Disclosure [Abstract]
Warrants	$5,435

Warrants_Additional_Informatio

Warrants - Additional Information (Details) (USD $)	6 Months Ended	12 Months Ended	1 Months Ended
	Dec. 31, 2014	Jun. 30, 2014	31-May-14	Apr. 30, 2014
Class Of Warrant Or Right [Line Items]
Warrants issued to purchase ordinary shares	0	1,766,998
Warrants exercise price			$8.63	$7.50
Warrants contractual life	5 years
Series B Preferred Stock
Class Of Warrant Or Right [Line Items]
Warrants issued to purchase ordinary shares			1,574,998
Warrants exercise price			$8.63
Financial Advisors
Class Of Warrant Or Right [Line Items]
Warrants issued to purchase ordinary shares			192,000
Warrants exercise price			$7.50

Convertible_Preference_Shares_1

Convertible Preference Shares - Additional Information (Details) (USD $)	Dec. 31, 2014
Equity [Abstract]
Convertible preference shares, shares authorized	12,000,000
Convertible preference shares, nominal value per share	$0.13

Convertible_Preference_Shares_2

Convertible Preference Shares - Schedule of Convertible Preference Shares (Details) (USD $)	Dec. 31, 2014	Jun. 30, 2014
In Thousands, except Share data, unless otherwise specified
Class Of Stock [Line Items]
Preference Shares, Outstanding	5,937,160
Preference Shares, Liquidation Preference	$67,651
Convertible preferred stock	33,826
Preference Shares, Outstanding		5,937,138
Preference Shares, Liquidation Preference		67,651
Convertible preferred stock		33,826
SIRPS Convertible Preference Shares
Class Of Stock [Line Items]
Preference Shares, Outstanding	1,737,144	0
Preference Shares, Liquidation Preference	16,353
Convertible preferred stock	8,177
Preference Shares, Outstanding	0	1,737,132
Preference Shares, Liquidation Preference		16,353
Convertible preferred stock		8,177
Series B Convertible Preference Shares
Class Of Stock [Line Items]
Preference Shares, Outstanding	4,200,016	0
Preference Shares, Liquidation Preference	51,298
Convertible preferred stock	25,649
Preference Shares, Outstanding	0	4,200,006
Preference Shares, Liquidation Preference		51,298
Convertible preferred stock		$25,649

Ordinary_Shares_Additional_Inf

Ordinary Shares - Additional Information (Details) (USD $)	Dec. 31, 2014	Nov. 30, 2014	Jun. 30, 2014
Class Of Stock [Line Items]
Ordinary shares, shares authorized	20,000,000		20,000,000
Ordinary shares, nominal value per share	$0.13	$0.10	$0.13
Ordinary shares, shares outstanding	1,232,702		1,268,810
Ordinary Shares Subject to Limited Recourse Loans
Class Of Stock [Line Items]
Ordinary shares, shares outstanding	0		254,680

Fair_Value_Measurement_Summary

Fair Value Measurement - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) (Fair Value, Measurements, Recurring, USD $)	Dec. 31, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified
Assets
Cash	$21,665	$30,041
Liabilities
Warrants		5,435
Level 1
Assets
Cash	21,665	30,041
Level 3
Liabilities
Warrants		$5,435

Net_Loss_Per_Share_Calculation

Net Loss Per Share - Calculation of Net Loss Per Participating Securities (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2014
Earnings Per Share Basic And Diluted [Abstract]
Net loss	($2,413)	($993)	($4,710)	($2,009)	($6,710)
Weighted-average ordinary shares issued and outstanding—basic and diluted	1,198,828	1,000,000	1,138,520	1,000,000
Net loss per ordinary share—basic and diluted	($2.01)	($0.99)	($4.14)	($2.01)

Net_Loss_Per_Share_Ordinary_Sh

Net Loss Per Share - Ordinary Share Equivalents Excluded from Calculation of Diluted Net Loss Per Share (Details)	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	8,181,550	2,001,518	8,181,550	2,001,518
Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	5,937,160	1,737,132	5,937,160	1,737,132
Share-Based Awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	477,392		477,392
Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	1,766,998		1,766,998
Ordinary Shares Subject to Limited Recourse Loans
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share		264,386		264,386

Share_Based_Awards_2012_Employ

Share Based Awards - 2012 Employee Share Option Plan - Additional Information (Details) (USD $)	1 Months Ended	6 Months Ended
	Aug. 31, 2012	Dec. 31, 2014	Jun. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Repurchased ordinary shares		145,069
2012 Employee Share Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary shares issued	264,386
Ordinary shares issued, purchase price per share	$4.20	$6.35
Limited recourse loan, repayment term		30 days
Limited recourse loan		$0	$1,000,000
New options expire period		2018-02
2012 Employee Share Option Plan | Dr. Heffernan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Loan amount		300,000
Repurchased ordinary shares		52,040
Share options to purchase ordinary shares		52,040
2012 Employee Share Option Plan | Dr. Gearing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Loan amount		$300,000
Repurchased ordinary shares		46,372
Share options to purchase ordinary shares		46,372

Share_Based_Awards_2013_Long_T

Share Based Awards - 2013 Long Term Incentive Plan - Additional Infromation (Details) (USD $)	1 Months Ended			6 Months Ended	12 Months Ended
	Nov. 30, 2014	Sep. 30, 2014	Nov. 30, 2013	Dec. 31, 2014	Jun. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary shares, nominal value per share	$0.10			$0.13	$0.13
Share consolidation, ratio	0.8
Previously Reported Value
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary shares, nominal value per share		0.1
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share options to purchase ordinary shares		16,800	215,799
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted share units to acquire ordinary shares		21,240	29,214	37,667	29,214
Incentive awards, fair value per share of underlying ordinary shares		6.35	5.15	$7.72	$5.15
2013 Long Term Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary share exercise price		0.1	0
Share options and restricted share units vesting description				Except for share options and restricted share units held by directors (which vested either beginning in September 2014 and quarterly thereafter or in November 2014), share options and restricted share units held by employees and consultants vested or will vest, as applicable, in three equal tranches in November 2014, November 2015 and November 2016.
Vesting period of share options and restricted share units held by held by employees and consultants				3 years

Share_Based_Awards_Share_Award

Share Based Awards - Share Awards to Consultants or Advisors for Services Provided - Additional information (Details) (Financial Advisors, USD $)	1 Months Ended
	Nov. 30, 2013
Financial Advisors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Financial advisor fees in ordinary shares	8,849
Preference shares issued per share	$5.18

Share_Based_Awards_Related_Par

Share Based Awards - Related Party Transactions - Additional Information (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2013	Jun. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Research and development	$2,226	$780	$4,765	$2,020
General and administrative	2,440	884	5,258	1,452
Ordinary shares, shares issued	1,232,702		1,232,702			1,268,810
Biocomm Squared Pty Ltd
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Research and development	62	54	115	79
Payable to related party	18		18			23
Ridge Biotechnology Consulting L L C
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Payable to related party	19		19			19
General and administrative	67	32	100	41
Robert Gearing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Research and development services					48
Robert Gearing | 2012 Employee Share Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary shares, shares issued					6,250	4,424
Peter Howard
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Research and development services	27	7	27	14
Dr Paul Wood
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Research and development services	$6	$3	$9	$24

Valuation_of_Share_Awards_Esti

Valuation of Share Awards - Estimated Fair Value of Share Options (Details) (USD $)	6 Months Ended	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value per ordinary share		$5.15
Risk free interest rate	1.70%	4.00%
Expected term (in years)	5 years
Expected volatility	80.00%	80.00%
Expected dividend yield	0.00%	0.00%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value per ordinary share	6.35
Expected term (in years)		5 years
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value per ordinary share	9.5
Expected term (in years)		10 years

Valuation_of_Share_Awards_Summ

Valuation of Share Awards - Summary of Share Option Activities (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Jun. 30, 2014	Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares Issuable Under Options, Outstanding	470,479	264,386
Shares Issuable Under Options, Granted	303,661	215,799
Shares Issuable Under Options, Exercised	-92,940
Shares Issuable Under Options, Ordinary shares no longer subject to limited recourse loans	-109,611	-9,706
Shares Issuable Under Options, Outstanding	426,520	470,479	264,386
Shares Issuable Under Options, Repurchased	-145,069
Shares Issuable Under Options, vested and expected to vest	158,137	6,195
Weighted Average Exercise Price, Outstanding	$2.33	$4.20
Weighted Average Exercise Price, Granted	$3.10	$0.13
Weighted Average Exercise Price, Exercised	$0.13
Weighted Average Exercise Price, Ordinary shares no longer subject to limited recourse loans	$4.20	$4.20
Weighted Average Exercise Price, Repurchased	$6.35
Weighted Average Exercise Price, Outstanding	$2.31	$2.33	$4.20
Weighted Average Exercise Price, Options vested and expected to vest	$5.84	$0.13
Weighted-Average Remaining Contractual Term, Outstanding	5 years	5 years	5 years
Weighted-Average Remaining Contractual Term, Granted	5 years	4 years 9 months
Weighted-Average Remaining Contractual Term, Exercised	5 years
Weighted-Average Remaining Contractual Term, Ordinary shares no longer subject to limited recourse loans	5 years	5 years
Weighted-Average Remaining Contractual Term, Repurchased	5 years
Weighted-Average Remaining Contractual Term, Outstanding	5 years	5 years	5 years
Aggregate Intrinsic Value, Outstanding	$1,797	$708
Aggregate Intrinsic Value, Granted	3,431	1,115
Aggregate Intrinsic Value, Exercised	-13
Aggregate Intrinsic Value, Ordinary shares no longer subject to limited recourse loans	-460	-26
Aggregate Intrinsic Value, Repurchased	-222
Aggregate Intrinsic Value, Outstanding	$4,533	$1,797	$708

Valuation_of_Share_Awards_Summ1

Valuation of Share Awards - Summary of Restricted Share Unit Activity (Details) (Restricted Stock, USD $)	1 Months Ended		6 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Nov. 30, 2013	Dec. 31, 2014	Jun. 30, 2014
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Restricted Share Units, Outstanding			29,214
Restricted share units to acquire ordinary shares	21,240	29,214	37,667	29,214
Number of Restricted Share Units, Converted			-16,009
Number of Restricted Share Units, Outstanding			50,872	29,214
Number of Restricted Share Units , Converted and expected to convert			3,700
Weighted Average Grant Date Fair Value, Outstanding			$5.15
Weighted Average Grant Date Fair Value, Granted	$6.35	$5.15	$7.72	$5.15
Weighted Average Grant Date Fair Value, Converted			$5.31
Weighted Average Grant Date Fair Value, Outstanding			$7.01	$5.15
Weighted Average Grant Date Fair Value, Converted and expected to convert			$6.35
Weighted Average Remaining Contractual Term, Outstanding			1 year 10 months 24 days	2 years 1 month 6 days
Weighted Average Remaining Contractual Term, Granted			2 years 2 months 12 days	2 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding			$151
Aggregate Intrinsic Value, Granted			286	151
Aggregate Intrinsic Value, Converted			-85
Aggregate Intrinsic Value, Outstanding			$352	$151

Valuation_of_Share_Awards_Addi

Valuation of Share Awards - Additional Information (Details) (USD $)	6 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Jun. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense weighted average period	3 years	2 years 4 months 24 days
Unrecognized share-based compensation expenses	$2.40	$1
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense unvested restricted share	$2.40	$0.10
Unrecognized compensation expense weighted average period	1 year 10 months 24 days	2 years 4 months 24 days

Valuation_of_Share_Awards_Shar

Valuation of Share Awards - Share Based Compensation Expense Related to Share Options and Restricted Share Units (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Recognized share-based compensation expense	$343	$27	$538	$27
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Recognized share-based compensation expense	131		173
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Recognized share-based compensation expense	$212	$27	$365	$27

Commitments_and_Contingencies_1

Commitments and Contingencies - Summary of Future Payments Non-Cancellable Operating Leases and Purchase Obligations (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Commitments And Contingencies Disclosure [Abstract]
Operating leases	$372
Operating leases Less than1 Year	86
Operating leases 1-3Years	230
Operating leases 3-5Years	56
Purchase obligations	898
Purchase obligations Less than 1 Year	898
Total contractual	1,270
Total contractual, Less than 1 year	984
Total contractual, 1-3 years	230
Total contractual, 3-5 years	$56

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Details) (USD $)	6 Months Ended	12 Months Ended	0 Months Ended	1 Months Ended
	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2015	Feb. 28, 2015
Ordinary Shares
Subsequent Event [Line Items]
Issuance of ordinary shares, shares	1	4,424
Forecast | Over-Allotment Option
Subsequent Event [Line Items]
Issuance of ordinary shares, shares			200,000
Subsequent Event | Ordinary Shares
Subsequent Event [Line Items]
Issuance of ordinary shares, shares				4,000,000
Public offering price (in dollars per share)				$10
Proceeds from Initial Public Offering, Gross				$41,800,000
Proceeds from Initial Public Offering, Net				36,000,000
Underwriting discount				2,900,000
Subsequent Event | Over-Allotment Option
Subsequent Event [Line Items]
Offering expenses payable				$2,800,000
Subsequent Event | 2015 Equity Incentive Plan
Subsequent Event [Line Items]
Shares authorized and reserved for issuance				1,280,000