Nexvet Biopharma (NVET) 10-Q 16 Feb 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2015	Jan. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	NVET
Entity Registrant Name	Nexvet Biopharma plc
Entity Central Index Key	1,618,561
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		11,558,133

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Current assets
Cash	$ 43,079	$ 52,033
Other income receivable	1,057	3,301
Prepaid expenses and other	1,160	607
Total current assets	45,296	55,941
Noncurrent assets
Other income receivable	64
Prepaid expenses	149	163
Total noncurrent assets	213	163
Property, plant and equipment, net	3,097	549
Intangible assets, net	37	19
Total assets	48,643	56,672
Current liabilities
Accounts payable	1,404	658
Accrued expenses	2,907	2,352
Deferred grant income	106
Deferred lease incentive	22	23
Total current liabilities	4,439	3,033
Noncurrent liabilities
Accrued expenses	52
Deferred grant income	64
Deferred lease incentive	47	61
Total noncurrent liabilities	163	61
Total liabilities	$ 4,602	$ 3,094
Commitments and contingencies (Note 11)
Shareholders’ equity
Ordinary shares, $0.125 nominal value per share, 100,000,000 shares authorized as of December 31, 2015 and June 30, 2015—11,558,133 and 11,406,916 shares issued and outstanding as of December 31, 2015 and June 30, 2015, respectively	$ 1,445	$ 1,426
Euro deferred shares, €100 nominal value per share, 400 shares authorized as of December 31, 2015 and June 30, 2015—400 shares issued and outstanding as of December 31, 2015 and June 30, 2015	13	13
Additional paid-in capital	81,214	80,275
Accumulated other comprehensive loss	(5,325)	(4,481)
Accumulated deficit	(33,306)	(23,655)
Total shareholders’ equity	44,041	53,578
Total liabilities and shareholders’ equity	$ 48,643	$ 56,672

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical)	Dec. 31, 2015$ / sharesshares	Dec. 31, 2015€ / sharesshares	Jun. 30, 2015$ / sharesshares	Jun. 30, 2015€ / sharesshares
Statement Of Financial Position [Abstract]
Ordinary shares, nominal value per share | $ / shares	$ 0.125		$ 0.125
Ordinary shares, shares authorized	100,000,000	100,000,000	100,000,000	100,000,000
Ordinary shares, shares issued	11,558,133	11,558,133	11,406,916	11,406,916
Ordinary shares, shares outstanding	11,558,133	11,558,133	11,406,916	11,406,916
Euro deferred shares, nominal value per share | € / shares		€ 100		€ 100
Euro deferred shares, shares authorized	400	400	400	400
Euro deferred shares, shares issued	400	400	400	400
Euro deferred shares, shares outstanding	400	400	400	400

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Revenue
Other				$ 25
Total revenue				25
Operating Expenses
Research and development	$ 3,790	$ 2,226	$ 7,515	4,765
General and administrative	1,779	2,440	3,649	5,258
Total operating expenses	5,569	4,666	11,164	10,023
Loss from operations	(5,569)	(4,666)	(11,164)	(9,998)
Other Income (Expense)
Research and development incentive income	457	941	1,023	1,682
Government grant income		22	4	319
Exchange (loss) gain	(618)	1,270	410	3,254
Interest income	39	20	76	33
Net loss	$ (5,691)	$ (2,413)	$ (9,651)	$ (4,710)
Net loss per share attributable to ordinary shareholders, basic and diluted	$ (0.49)	$ (2.01)	$ (0.84)	$ (4.14)
Weighted-average ordinary shares outstanding, basic and diluted	11,506,236	1,198,828	11,474,394	1,138,520
Comprehensive Loss
Net loss	$ (5,691)	$ (2,413)	$ (9,651)	$ (4,710)
Net gain (loss) in foreign currency translation adjustments			(844)
Total comprehensive loss	(5,094)	(3,890)	(10,495)	(8,328)
Accumulated Other Comprehensive Income
Comprehensive Loss
Net gain (loss) in foreign currency translation adjustments	$ 597	$ (1,477)	$ (844)	$ (3,618)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN CONVERTIBLE PREFERENCE SHARES AND SHAREHOLDERS' EQUITY (DEFICIT) (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Ordinary Shares Subject To Limited Resource Loans	Euro Deferred Shares	Convertible Preferred Stock	Additional Paid-in CapitalOther	Additional Paid-in CapitalShare Premium	Accumulated Other Comprehensive Income	Accumulated Deficit	Convertible Preferred Stock
Convertible Preference Shares, Beginning balance at Jun. 30, 2014										$ 33,826
Balance at Jun. 30, 2014	$ (8,957)	$ 126				$ 937	$ 1,405	$ 373	$ (11,798)
Convertible Preference Shares, Beginning balance, shares at Jun. 30, 2014										5,937,138
Balance, shares at Jun. 30, 2014		1,014,130	254,680
Issuance of ordinary shares and Euro deferred shares, amount	$ 13			$ 13
Issuance of ordinary shares and Euro deferred shares, shares		2		400
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)
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	13	$ 16				(645)	642
Issuance of ordinary shares- conversion of share- based compensation, shares		126,410
Issuance of ordinary shares	37,938	$ 522					37,416
Issuance of ordinary shares, shares		4,176,903								6
Adjustment for convertible preference shares issued in connection with share consolidation		9								16
Reclassification into shareholders' equity	33,826				$ 33,826					$ (33,826)
Reclassification into shareholders' equity, shares					5,937,160					(5,937,160)
Reclassification into ordinary shares		$ 742			$ (33,826)		33,084
Reclassification to ordinary shares, shares		5,937,160			(5,937,160)
Share bonus award	6	$ 6				(304)	304
Share bonus award, shares		42,691
Share-based compensation expense	2,081					2,081
Exchange difference on translation of foreign operations	(4,920)					(4)	(62)	(4,854)
Net loss	(11,857)								(11,857)
Balance at Jun. 30, 2015	53,578	$ 1,426		$ 13		2,065	78,210	(4,481)	(23,655)
Balance, shares at Jun. 30, 2015		11,406,916		400
Issuance of ordinary shares-conversion of share-based compensation, amount	19	$ 19				(1,125)	1,125
Issuance of ordinary shares- conversion of share- based compensation, shares		151,217
Share-based compensation expense	939					939
Exchange difference on translation of foreign operations	(844)							(844)
Net loss	(9,651)								(9,651)
Balance at Dec. 31, 2015	$ 44,041	$ 1,445		$ 13		$ 1,879	$ 79,335	$ (5,325)	$ (33,306)
Balance, shares at Dec. 31, 2015		11,558,133		400

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN CONVERTIBLE PREFERENCE SHARES AND SHAREHOLDERS' EQUITY (DEFICIT) (unaudited) (Parenthetical) $ in Thousands	3 Months Ended
	Sep. 30, 2015USD ($)
Common Stock
Issuance costs	$ 3,830

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash Flows from Operating Activities
Net loss	$ (9,651)	$ (4,710)
Adjustments to reconcile net loss to cash used in operating activities:
Share-based compensation expense	939	538
Depreciation and amortization expense	160	76
Changes in assets and liabilities:
Other income receivable	2,180	844
Prepaid expenses and other	(539)	(1,049)
Accounts payable, accrued expenses and lease incentive liability	1,508	(355)
Net cash used in operating activities	(5,403)	(4,656)
Cash Flows from Investing Activities
Purchase of property, plant and equipment and intangible assets	(2,816)	(176)
Net cash used in investing activities	(2,816)	(176)
Cash Flows from Financing Activities
Proceeds from issuance of ordinary shares	19	24
Net cash provided by financing activities	19	24
Effect of exchange rate changes on cash	(754)	(3,568)
Net decrease in cash	(8,954)	(8,376)
Cash at beginning of period	52,033	30,041
Cash at end of period	$ 43,079	21,665
Supplemental Disclosure
Issuance of share options for accrued consulting services		$ 102

Organization and Description of

Organization and Description of Business	6 Months Ended
	Dec. 31, 2015
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. Biologics are therapeutic proteins derived from biological sources. As a class, biologics 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 monoclonal antibodies (“mAbs”) a type of biologic, 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. Biologics generally include mAbs, which are targeted antibodies derived from identical (“clonal”) cells and fusion proteins, which are proteins created by joining two or more genes coded for separate proteins. The Company’s first product candidate, NV‑01, is a mAb that targets and inhibits the function of nerve growth factor (“NGF”) for the control of pain associated with osteoarthritis in dogs. NGF is a protein involved in neural signaling, including pain signals, and NGF inhibitors (“anti-NGFs”) seek to interrupt those signals to reduce pain. In November 2015, the Company announced its pivotal safety and efficacy study of NV-01 met its primary efficacy endpoint: a statistically significant improvement over placebo in the assessed level of pain (p=0.038) as measured using changes in Client-Specific Outcome Measures (“CSOM”) score between enrollment and day 28. This study’s design was agreed under protocol concurrence with the Center for Veterinary Medicine (“CVM”) at the U.S. Food and Drug Administration (“FDA”). NV-01 was found to be safe and well-tolerated with no significant adverse safety signals observed in the study. Clinically meaningful magnitudes of benefit and statistically significant differences over placebo were also achieved for the majority of the secondary endpoints measured in the study. Collectively, the results of this study constitute a substantial body of efficacy data that Nexvet intends to use as the basis of its planned submissions for marketing authorizations in both the U.S. and Europe. The United States Adopted Name (“USAN”) Council has approved the generic name “ranevetmab” for NV-01. The Company’s second product candidate, NV‑02, is an anti-NGF mAb for the control of pain associated with osteoarthritis in cats. The Company announced positive top-line results from a proof-of-concept efficacy study and its pilot safety study of NV‑02 in June 2015. In October 2015, the Company announced the commencement of a placebo-controlled, blinded, multi-site pilot field safety and efficacy study targeting enrollment of 90 cats with naturally occurring osteoarthritis. The Company anticipates results from this pilot field study in the second quarter of 2016. The Company’s next most advanced programs are in the area of inflammation, and include NV-08, a fusion proteins that is a tumor necrosis factor (“TNF”) inhibitor for the treatment of chronic inflammatory diseases, including atopic dermatitis, in dogs. TNF is a protein that causes inflammation, and TNF inhibitors (“anti‑TNFs”) suppress this inflammation. The Company’s is conducting proof-of-concept studies for candidates in inflammation (including NV-08), which if successful, the Company will consider for progression into formal development. Primarily using PETization, the Company has built a research and development pipeline of 15 biologic programs in the areas of pain, allergy, inflammation and immuno-oncology. The Company has experienced losses since its inception and had an accumulated deficit of $33.3 million and $23.7 million as of December 31 and June 30, 2015, 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 $43.1 million as of December 31, 2015 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 or 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, Nexvet Australia Pty Ltd (“Nexvet Australia”) completed a one-for-four share consolidation pursuant to which each holder of ordinary shares and preference shares received one ordinary share or preference share for every four ordinary shares or preference shares as applicable, 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 Biopharma Limited, a newly formed Irish private company, became the parent company of Nexvet Australia and its subsidiaries pursuant to a transaction in which all of the holders of securities of Nexvet Australia exchanged their holdings for equivalent securities, as applicable, of Nexvet Biopharma Limited. Nexvet Biopharma Limited then re-registered as an Irish public limited company in September 2014 (such exchange and re-registration is referred to as the “Irish Reorganization”). Nexvet Biopharma public limited company became the parent company of Nexvet Australia pursuant to the Irish Reorganization, and for financial reporting purposes the historical consolidated financial statements of Nexvet Australia became the historical consolidated financial statements of Nexvet Biopharma public limited company and its subsidiaries as a continuation of the predecessor. The capital structure presented is that of Nexvet Biopharma public limited company. In November 2014, the Company completed a four-for-five share consolidation pursuant to which 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 as applicable, 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 four-for-five basis, with a proportionate adjustment to the exercise or conversion price, as applicable. 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 aggregate net proceeds of $38.0 million, after deducting the underwriting discount of $2.9 million and offering expenses of $0.9 million payable by the Company. Upon the initial closing, an amended Memorandum and Articles of Association became effective for the Company and all 5,937,160 convertible preference shares then outstanding were converted into 5,937,160 ordinary shares. In September 2015, the Company secured a biologics manufacturing facility in Tullamore, Ireland. The Company secured the manufacturing assets within the facility for $2.0 million and have entered into a 10‑year lease on the facility, with an option to purchase the building.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2015
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 Ireland Limited, Tevxen Limited, BioNua Limited, Nexvet UK Limited and Nexvet US, Inc. All intercompany balances and transactions have been eliminated on 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, 2015 and for the three and six months ended December 31, 2015 and 2014 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, 2015 and the results of its operations and comprehensive loss and its cash flows for the three and six months ended December 31, 2015 and 2014. The financial data and other information disclosed in these notes related to the three and six months ended December 31, 2015 and 2014 are unaudited. The results for the three and six months ended December 31, 2015 and 2014 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, 2015 included in the Company’s annual report on Form 10‑K filed with the SEC on September 3, 2015. The condensed consolidated balance sheet data as of June 30, 2015 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 period. Significant items subject to such estimates and assumptions include research and development incentive income, research and development accruals, the likelihood that attaching conditions will be met for government grants, 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 were participating securities as defined by Accounting Standards Codification (“ASC”) Topic 260‑10, Earnings Per Share 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. 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, 2015 and June 30, 2015, the Company’s cash consisted of cash deposited in a business operating account or in short-term deposit accounts of less than 90 days’ original duration. Concentration of Credit Risk and Other Risks and Uncertainties The Company receives research and development incentive income and grants from two sources, the Australian government and the Irish government. The Company’s cash is deposited with several large commercial banks located in the United States, Ireland 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 · 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. Other Income Receivable Other income receivable is recorded at the invoiced amount where available. Government grants are recognized at their fair value when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. Nexvet Australia is eligible under the AusIndustry research and 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. Property, Plant and Equipment Property, plant and equipment are recorded at acquisition cost, net of accumulated depreciation and impairment. Depreciation on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets. The estimated useful life of machinery and equipment is three to 10 years. Leasehold improvements are amortized on the straight-line method over the shorter of the remaining lease term or estimated useful life of the asset. Upon retirement or sale of an asset, its cost and related accumulated depreciation or accumulated amortization are removed from the property accounts and any gain or loss is included in the results of operations. Maintenance and repairs are expensed as incurred. Foreign Currency The Company’s functional currency is U.S dollars, and the functional currency for most subsidiaries is their local currency. Foreign currency transactions are translated into the functional currency using the current exchange rate as of the date of the transaction. At period end, monetary items denominated in a foreign currency are translated into the functional currency of the relevant entity using the period-end spot rate. In preparing the Company’s consolidated financial statements, the financial statements of the subsidiaries are translated at period-end exchange rates as to assets and liabilities and weighted-average rates as to revenue and expenses. The resulting translation adjustments are recognized in other comprehensive income (loss) (“OCI”). Income Taxes The Company has historically filed income tax returns in Australia, the United States and Ireland. The Company applies ASC Topic 740, Income Taxes 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. The income tax benefit from an uncertain tax position is only recognized if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on technical merits of the position. The Company evaluates and adjusts these accruals based on changing facts and circumstances. The Company’s policy is to record interest and penalties related to income taxes as part of its income tax provision. Government Grant Income Government grants are recognized at their fair value when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. When the grant relates to an asset, the fair value is included in the balance sheet as deferred grant income, which is released to income over the expected useful life in a manner consistent with the depreciation method for the relevant asset and subject to meeting other relevant conditions, and recorded on the balance sheet as other income receivable until cash is received. 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. 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, pilot and pivotal safety and efficacy studies, development of biological materials and service providers. The Company uses its employee and infrastructure resources across multiple development programs. The Company allocates 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 The Company recognizes government grant income at fair value when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. When the grant relates to an asset, the fair value is included in the balance sheet as deferred grant income, which is released to income over the expected useful life in a manner consistent with the depreciation method for the relevant asset and subject to meeting other relevant conditions, and recorded on the balance sheet as other income receivable until cash is received. 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 (losses) gains 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. The Company earns interest on the cash balances held with financial institutions and recognizes interest when earned on an accrual basis over time. Comprehensive Loss Comprehensive loss is defined as the total change in shareholders’ equity 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. 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. The Company recognizes share-based compensation expense based on the grant date fair value of the entire award over the total period during which an employee is required to provide service in exchange for the award. In accordance with ASC 718, the amount of compensation expense recognized at each balance date is at least equal to the grant date fair value of the vested portion of the award on that date. Where performance conditions are attached to the awards, compensation expense is recognized in the period in which it becomes probable that the performance target will be achieved, net of estimated pre-vesting forfeitures over the requisite service period. The probability of vesting is reassessed at each reporting period for awards with performance conditions and compensation expense is adjusted based on its probability assessment. 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. Total assets, property and equipment, net and total property and equipment additions by geography, reconciled to the consolidated amounts are: December 31, June 2015 2015 United States (in thousands) Total assets $ 36,160 $ 38,973 Property and equipment, net 10 4 Total property and equipment additions 3 4 Australia Total assets $ 9,054 $ 17,259 Property and equipment, net 1,122 538 Total property and equipment additions 695 283 Ireland Total assets $ 3,429 $ 440 Property and equipment, net 1,965 7 Total property and equipment additions 2,096 7 Consolidated Total assets $ 48,643 $ 56,672 Property and equipment, net 3,097 549 Total property and equipment additions 2,794 294 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 Consolidation Development Stage Entities Recently Issued Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. · 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. In July 2015, the FASB delayed the effective date of this guidance. As a result, this guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Earlier application is permitted only as of 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 consolidated results of operations, financial position and cash flows. In June 2014, the FASB issued ASU 2014-12, Compensation—Stock Compensation Compensation—Stock Compensation In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements Going Concern (Subtopic 205-40) In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805) In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) Balance Sheet Classification of Deferred Taxes In January 2016, the FASB issued ASU 2016-01, Financial Instruments Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities

Other Income Receivable

Other Income Receivable	6 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Other Income Receivable	3. Other Income Receivable Other income receivable consisted of the following as of the dates indicated: December 31, June 2015 2015 Current (in thousands) Research and development incentive receivable $ 916 $ 3,242 Government grant receivable 111 — Other 30 59 Other income receivable $ 1,057 $ 3,301 Noncurrent Government grant receivable $ 64 $ —

Property Plant and Equipment

Property Plant and Equipment	6 Months Ended
	Dec. 31, 2015
Property Plant And Equipment [Abstract]
Property Plant and Equipment	4. Property Plant and Equipment Property, plant and equipment, consisted of the following as of the dates indicated: Computer Equipment Research and Development Equipment Office Equipment Plant and Equipment Leasehold Improvements Total (in thousands) Opening balance July 1, 2014 $ 57 $ 214 $ 92 $ — $ 151 $ 514 Additions $ 35 $ 258 $ 1 $ — $ — $ 294 Disposals — — — — — — Depreciation (25 ) (86 ) (12 ) — (29 ) (152 ) Exchange rate adjustment (11 ) (52 ) (19 ) — (25 ) (107 ) Closing balance June 30, 2015 $ 56 $ 334 $ 62 $ — $ 97 $ 549 Additions $ 71 $ 800 $ 68 $ 449 $ 1,406 $ 2,794 Disposals — — — — — — Depreciation (15 ) (70 ) (9 ) (13 ) (52 ) (159 ) Exchange rate adjustment (2 ) (2 ) (6 ) (18 ) (59 ) (87 ) Closing balance December 31, 2015 $ 110 $ 1,062 $ 115 $ 418 $ 1,392 $ 3,097 In September 2015, the Company acquired certain manufacturing assets in Ireland as follows: Assets Acquired and Consideration (in thousands) Assets acquired Leasehold improvements $ 1,397 Plant & equipment 449 Office equipment (including furniture and fittings) 67 Laboratory equipment 64 Total assets acquired $ 1,977 Consideration Cash paid $ 1,887 Retention amount withheld 90 Total consideration $ 1,977

Accrued Expenses

Accrued Expenses	6 Months Ended
	Dec. 31, 2015
Payables And Accruals [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following as of the dates indicated: December 31, June 2015 2015 Current (in thousands) Accrued payroll and related expenses $ 925 $ 1,027 Accrued professional fees 233 361 Accrued research and development costs 1,749 964 Accrued expenses $ 2,907 $ 2,352 Noncurrent Accrued payroll and related expenses $ 49 $ — Accrued professional fees 3 — Accrued expenses $ 52 $ —

Ordinary Shares

Ordinary Shares	6 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Ordinary Shares	6. Ordinary Shares As of December 31, 2015 and June 30, 2015, there were 11,558,133 and 11,406,916 ordinary shares outstanding, respectively.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Dec. 31, 2015
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, 2015 and June 30, 2015, including financial instruments, which the Company accounts for under the fair value option, are summarized in the following tables. December 31, 2015 Level 1 Level 2 Level 3 Assets/ Liabilities at Fair Value (in thousands) Assets Cash $ 43,079 $ — $ — $ 43,079 June 30, 2015 Level 1 Level 2 Level 3 Assets/ Liabilities at Fair Value Assets Cash $ 52,033 $ — $ — $ 52,033 There were no transfers between the levels within the reporting periods.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Dec. 31, 2015
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 and six months ended December 31, 2015 and 2014 is presented below. Three Months Ended December 31, Six Months Ended December 31, 2015 2014 2015 2014 (in thousands, except share and per share amounts) (in thousands, except share and per share amounts) Net loss $ (5,691 ) $ (2,413 ) $ (9,651 ) $ (4,710 ) Weighted-average ordinary shares issued and outstanding—basic and diluted 11,506,236 1,198,828 11,474,394 1,138,520 Net loss per ordinary share—basic and diluted $ (0.49 ) $ (2.01 ) $ (0.84 ) $ (4.14 ) 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 September Six Months Ended December 31, 2015 2014 2015 2014 (in thousands, except share and per share amounts) (in thousands, except share and per share amounts) Preference Shares — 5,937,160 — 5,937,160 Share-based awards 1,052,420 477,392 1,052,420 477,392 Warrants 1,766,998 1,766,998 1,766,998 1,766,998 Total 2,819,418 8,181,550 2,819,418 8,181,550 Unaudited basic and diluted net loss per share is computed using the weighted-average number of ordinary shares outstanding after giving effect to the conversion of all convertible 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.

Share Based Awards

Share Based Awards	6 Months Ended
	Dec. 31, 2015
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. Option Terms of Issue The Company previously issued to its employees, consultants and directors under the Company’s Employee Share Option Plan (the “2012 Plan”) ordinary shares subject to an interest-free, limited recourse loan payable to the Company for the purchase price of the ordinary shares. The 2012 Plan is no longer in use, and all of the limited recourse loans were either repaid in cash or satisfied by the repurchase by the Company of certain ordinary shares subject to such loan. The Company issued to each former holder of such repurchased 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 and subject to the Option Terms of Issue. The new options expire in February 2018, consistent with the original repayment date of the loan. 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 vest 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.” In November 2014, the Company awarded employees share options to purchase 141,792 ordinary shares and restricted share units to acquire 16,427 ordinary shares. The underlying ordinary shares had a grant date fair value of $9.37. The share options and restricted share units have an exercise price or conversion price, as applicable, of $0.125 per ordinary share. The awards are subject to a specified performance condition and service period and they vest in tranches over one to three years. 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. Prior to its termination, the 2013 Plan was administered by the Company’s board of directors. Subject to the provisions of the 2013 Plan, the board of directors determined, in its discretion, the persons to whom, and the times at which, awards were granted, as well as the size, terms and conditions of each award, under the 2013 Plan. All awards are evidenced by a written agreement between the Company and the holder of the award. The compensation committee 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 compensation committee 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 compensation committee, in its discretion and without the consent of any participant, may also 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. 2015 Equity Incentive Plan In September 2014, the Company’s board of directors adopted, and in November 2014 the Company’s shareholders approved, the 2015 Equity Incentive Plan (“2015 Plan”). The 2015 Plan was amended by the board of directors in January 2015, became effective on the date immediately prior to the date of the prospectus for initial public offering and was further amended by the compensation committee in September 2015. The 2015 Plan is intended to provide incentives that will assist the Company 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 were initially authorized and reserved for issuance under the 2015 Plan. This reserve has or will automatically increase on July 1 of each year through 2024 by an amount equal to the lesser of: · Four percent of the number of the Company’s ordinary shares issued and outstanding on the immediately preceding June 30; and · An amount determined by the Company’s board of directors. The ordinary shares available under the 2015 Plan will not be reduced by awards settled in cash, but will be reduced by ordinary shares withheld to satisfy tax withholding obligations with respect to ordinary share options (but not other types of awards). The gross number of ordinary shares issued upon the exercise of options exercised by means of a net exercise or by tender of previously-owned ordinary shares will be deducted from the ordinary shares available under the 2015 Plan. Notwithstanding the foregoing, and subject to adjustment as described below, the maximum aggregate number of ordinary shares that may be subject to issuance at any given time under the 2015 Plan in connection with outstanding awards shall not exceed a number equal to ten percent of the Company’s total issued and outstanding ordinary shares (calculated on a non-diluted basis). Appropriate adjustments will be made in the number of authorized ordinary shares and other numerical limits in the 2015 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. Ordinary shares subject to awards which expire or are cancelled or forfeited will again become available for issuance under the 2015 Plan. In May 2015, the Company awarded employees and directors share options to purchase 360,000 ordinary shares and restricted share units to acquire 20,280 ordinary shares with a grant date fair value of $5.93 and $6.99 per share, respectively. The share options and restricted share units have an exercise price of $15.00 and a conversion price of $0.125 per ordinary share, respectively. Except for restricted share units to acquire 2,280 ordinary shares held by directors (which vest immediately), the awards vest in tranches over one to five years. In June 2015, the Company awarded employees bonus share awards to purchase 42,691 ordinary shares subject to the payment of $0.125 per ordinary share. The underlying ordinary shares had a grant date fair value of $7.12 per ordinary share. In August 2015, the Company awarded employees share options to purchase 60,000 ordinary shares and restricted share units to acquire 8,500 ordinary shares with a grant date fair value of $2.71 and $4.97 per share, respectively. The share option and restricted share units have an exercise price of $5.10 and a conversion price of $0.125 per ordinary share, respectively. The awards vest in tranches over one to five years. In September 2015, the Company awarded employees and directors restricted share units to acquire 298,834 ordinary shares with grant date fair values of $4.26‑$4.27. The restricted share units have a conversion price of $0.125 per ordinary share. The restricted shares units granted to employees vest annually over four years commencing on July 1, 2016. The restricted share units granted to directors vest on July 1, 2016. In November 2015, the Company awarded a new employee restricted share units to acquire 2,000 ordinary shares with a grant date fair value of $4.76 .

Valuation of Share Awards

Valuation of Share Awards	6 Months Ended
	Dec. 31, 2015
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 was a private company until February 2015 and lacked company-specific historical and implied volatility information. Therefore, it has estimated 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 awards was estimated using the following assumptions: Three Months Ended December 31, 2015 Six Months Ended December 31, 2015 Risk free interest rate 1.7% 1.7% Expected term (in years) 1 year 1 - 4 years Expected volatility 75% 75% Forfeiture rate 0% 7.5% Expected dividend yield zero zero Since completion of the Company’s initial public offering, the fair value of the underlying ordinary shares has been based on the price per share quoted on the NASDAQ Global Market at the date of grant. The following table summarizes share option activity for fiscal year 2015 and the six months ended December 31, 2015: Shares Issuable Under Options Weighted- Average Exercise Price Outstanding as of July 1 470,479 $ 2.33 Granted 663,661 9.55 Exercised (96,540 ) 0.125 Ordinary shares no longer subject to limited recourse loans (109,611 ) (1) 4.20 Repurchased (145,069 ) 6.35 Expired or forfeited (6,289 ) 0.125 Outstanding as of June 776,631 $ 8.18 Granted 60,000 $ 5.10 Exercised (126,017 ) 0.125 Repurchased — — Expired or forfeited — — Outstanding as of December 31, 2015 710,614 $ 9.35 Options vested and expected to vest, as of June 159,937 $ 5.77 Options vested and expected to vest, as of December 31, 2015 329,812 $ 9.63 (1) Reflects ordinary shares issued subject to limited recourse loans. 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 is considered the price per share paid by investors in the Company’s private financings, including the Series A investment 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 2015 and the six months ended December 31, 2015: Number of Restricted Share Units Weighted Average Grant Date Fair Value Outstanding as of July 1 29,214 $ 5.15 Granted 57,947 7.83 Converted (29,489 ) 5.85 Forfeited — — Outstanding as of June 57,672 $ 7.48 Granted 309,334 $ 4.28 Converted (25,200 ) 7.61 Forfeited — — Outstanding as of December 31, 2015 341,806 $ 4.57 Converted and expected to convert, as of June 4,400 $ 9.19 Converted and expected to convert, as of December 31 — $ — 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 weighted average remaining contract life on all outstanding options and restricted share units as of December 31, 2015 was 5.2 years and 1.8 years, respectively. The Company recorded share-based compensation expense related to share options and restricted share units for the three and six months ended December 31, 2015 and 2014 as follows: Three Months Ended December 31, Six Months Ended December 31, 2015 2014 2015 2014 (in thousands) (in thousands) Research and development $ 193 $ 131 $ 402 $ 173 General and administrative 286 212 537 365 Total $ 479 $ 343 $ 939 $ 538 The Company had an aggregate of $3.7 million and $3.1 million of unrecognized share-based compensation expense for share awards outstanding as of December 31, 2015 and June 30, 2015, respectively, which is expected to be recognized over an estimated period of 5.5 years and 4.0 years, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2015
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. Operating Leases and Purchase Obligations Commitments consisted of the following as of the dates indicated: Total Less than 1 Year 1-3 Years 3-5 Years After 5 Years December 31, 2015 (in thousands) Operating leases $ 1,405 $ 190 $ 400 $ 253 $ 562 Purchase obligations 2,007 2,007 — — — Total $ 3,412 $ 2,197 $ 400 $ 253 $ 562 Total Less than 1 Year 1-3 Years 3-5 Years After 5 Years June 30, 2015 (in thousands) Operating leases $ 352 $ 109 $ 190 $ 53 $ — Purchase obligations 680 680 — — — Total $ 1,032 $ 789 $ 190 $ 53 $ — Operating Leases The Company entered into a lease for its office in Melbourne, Australia commencing December 2013 for a period of five years. As of December 31, 2015 and June 30, 2015 commitments totaled $0.3 million and $0.4 million, respectively. Rent expense was $106,000 and $0.2 million for the six months ended December 31, 2015 and fiscal year 2015, respectively. Included in rent expense is a build-out incentive of $11,000 and $26,000 for the six months ended December 31, 2015 and fiscal year 2015, respectively. A portion of the incentive paid by the landlord is to be repaid by the Company if the lease is terminated early, determined by the unexpired term of the lease over the original 60‑month lease term. There are no escalation clauses in the lease agreement. The Company entered into a lease for a facility in Tullamore, Ireland commencing September 2015 for a period of 10 years, with an option to purchase the building. As of December 31, 2015, commitments on this lease totalled $1.1 million. Purchase Obligations In connection with the development of biologics, the Company had open contracts with suppliers for goods and services of $2.0 million and $0.7 million as of December 31, 2015 and June 30, 2015, respectively.

Related Party Transaction

Related Party Transaction	6 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transaction	12. Related Party Transaction 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 expenses of $Nil, $67,000, $39,000 and $100,000 for the three and six months ended December 31, 2015 and 2014, respectively, related to these agreements. As of December 31, 2015 and June 30, 2015, there was Nil and $13,000 payable to Ridge Biotechnology Consulting, LLC, respectively. 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 Square Pty Ltd. In August 2010 and August 2013, the Company entered into consulting agreements with Biocomm Square Pty Ltd for research and development support services. These agreements were superseded by a new consulting agreement in December 2013, which was amended in April 2014 and in August 2015. In addition, the Company entered into an agreement with Biocomm Square Pty Ltd in November 2011 for assistance in obtaining partnering arrangements with Japanese entities. This agreement was amended and terminated in August 2015. The Company recorded expenses of $57,000, $62,000, $90,000 and $115,000 for the three months ended December 31, 2015 and 2014, respectively, related to these agreements. As of December 31, 2015 and June 30, 2015, there was $24,000 and $17,000 payable to Biocomm Square Pty Ltd, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events There were no material subsequent events occurring after December 31, 2015 requiring disclosure.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2015
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 Ireland Limited, Tevxen Limited, BioNua Limited, Nexvet UK Limited and Nexvet US, Inc. All intercompany balances and transactions have been eliminated on 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, 2015 and for the three and six months ended December 31, 2015 and 2014 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, 2015 and the results of its operations and comprehensive loss and its cash flows for the three and six months ended December 31, 2015 and 2014. The financial data and other information disclosed in these notes related to the three and six months ended December 31, 2015 and 2014 are unaudited. The results for the three and six months ended December 31, 2015 and 2014 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, 2015 included in the Company’s annual report on Form 10‑K filed with the SEC on September 3, 2015. The condensed consolidated balance sheet data as of June 30, 2015 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 period. Significant items subject to such estimates and assumptions include research and development incentive income, research and development accruals, the likelihood that attaching conditions will be met for government grants, 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 were participating securities as defined by Accounting Standards Codification (“ASC”) Topic 260‑10, Earnings Per Share 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. 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, 2015 and June 30, 2015, the Company’s cash consisted of cash deposited in a business operating account or in short-term deposit accounts of less than 90 days’ original 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 two sources, the Australian government and the Irish government. The Company’s cash is deposited with several large commercial banks located in the United States, Ireland 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 · 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.
Other Income Receivable	Other Income Receivable Other income receivable is recorded at the invoiced amount where available. Government grants are recognized at their fair value when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. Nexvet Australia is eligible under the AusIndustry research and 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.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at acquisition cost, net of accumulated depreciation and impairment. Depreciation on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets. The estimated useful life of machinery and equipment is three to 10 years. Leasehold improvements are amortized on the straight-line method over the shorter of the remaining lease term or estimated useful life of the asset. Upon retirement or sale of an asset, its cost and related accumulated depreciation or accumulated amortization are removed from the property accounts and any gain or loss is included in the results of operations. Maintenance and repairs are expensed as incurred.
Foreign Currency	Foreign Currency The Company’s functional currency is U.S dollars, and the functional currency for most subsidiaries is their local currency. Foreign currency transactions are translated into the functional currency using the current exchange rate as of the date of the transaction. At period end, monetary items denominated in a foreign currency are translated into the functional currency of the relevant entity using the period-end spot rate. In preparing the Company’s consolidated financial statements, the financial statements of the subsidiaries are translated at period-end exchange rates as to assets and liabilities and weighted-average rates as to revenue and expenses. The resulting translation adjustments are recognized in other comprehensive income (loss) (“OCI”).
Income Taxes	Income Taxes The Company has historically filed income tax returns in Australia, the United States and Ireland. The Company applies ASC Topic 740, Income Taxes 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. The income tax benefit from an uncertain tax position is only recognized if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on technical merits of the position. The Company evaluates and adjusts these accruals based on changing facts and circumstances. The Company’s policy is to record interest and penalties related to income taxes as part of its income tax provision.
Government Grant Income	Government Grant Income Government grants are recognized at their fair value when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. When the grant relates to an asset, the fair value is included in the balance sheet as deferred grant income, which is released to income over the expected useful life in a manner consistent with the depreciation method for the relevant asset and subject to meeting other relevant conditions, and recorded on the balance sheet as other income receivable until cash is received. 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.
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, pilot and pivotal safety and efficacy studies, development of biological materials and service providers. The Company uses its employee and infrastructure resources across multiple development programs. The Company allocates 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 The Company recognizes government grant income at fair value when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. When the grant relates to an asset, the fair value is included in the balance sheet as deferred grant income, which is released to income over the expected useful life in a manner consistent with the depreciation method for the relevant asset and subject to meeting other relevant conditions, and recorded on the balance sheet as other income receivable until cash is received. 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 (losses) gains 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. The Company earns interest on the cash balances held with financial institutions and recognizes interest when earned on an accrual basis over time.
Comprehensive Loss	Comprehensive Loss Comprehensive loss is defined as the total change in shareholders’ equity 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. 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. The Company recognizes share-based compensation expense based on the grant date fair value of the entire award over the total period during which an employee is required to provide service in exchange for the award. In accordance with ASC 718, the amount of compensation expense recognized at each balance date is at least equal to the grant date fair value of the vested portion of the award on that date. Where performance conditions are attached to the awards, compensation expense is recognized in the period in which it becomes probable that the performance target will be achieved, net of estimated pre-vesting forfeitures over the requisite service period. The probability of vesting is reassessed at each reporting period for awards with performance conditions and compensation expense is adjusted based on its probability assessment. 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. Total assets, property and equipment, net and total property and equipment additions by geography, reconciled to the consolidated amounts are: December 31, June 2015 2015 United States (in thousands) Total assets $ 36,160 $ 38,973 Property and equipment, net 10 4 Total property and equipment additions 3 4 Australia Total assets $ 9,054 $ 17,259 Property and equipment, net 1,122 538 Total property and equipment additions 695 283 Ireland Total assets $ 3,429 $ 440 Property and equipment, net 1,965 7 Total property and equipment additions 2,096 7 Consolidated Total assets $ 48,643 $ 56,672 Property and equipment, net 3,097 549 Total property and equipment additions 2,794 294
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 Consolidation Development Stage Entities Recently Issued Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. · 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. In July 2015, the FASB delayed the effective date of this guidance. As a result, this guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Earlier application is permitted only as of 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 consolidated results of operations, financial position and cash flows. In June 2014, the FASB issued ASU 2014-12, Compensation—Stock Compensation Compensation—Stock Compensation In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements Going Concern (Subtopic 205-40) In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805) In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) Balance Sheet Classification of Deferred Taxes In January 2016, the FASB issued ASU 2016-01, Financial Instruments Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Reconciliation of Total Assets, Property and Equipment, Net and Total Property and Equipment Additions by Geography to Consolidated	Total assets, property and equipment, net and total property and equipment additions by geography, reconciled to the consolidated amounts are: December 31, June 2015 2015 United States (in thousands) Total assets $ 36,160 $ 38,973 Property and equipment, net 10 4 Total property and equipment additions 3 4 Australia Total assets $ 9,054 $ 17,259 Property and equipment, net 1,122 538 Total property and equipment additions 695 283 Ireland Total assets $ 3,429 $ 440 Property and equipment, net 1,965 7 Total property and equipment additions 2,096 7 Consolidated Total assets $ 48,643 $ 56,672 Property and equipment, net 3,097 549 Total property and equipment additions 2,794 294

Other Income Receivable (Tables

Other Income Receivable (Tables)	6 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Schedule of Other Income Receivable	Other income receivable consisted of the following as of the dates indicated: December 31, June 2015 2015 Current (in thousands) Research and development incentive receivable $ 916 $ 3,242 Government grant receivable 111 — Other 30 59 Other income receivable $ 1,057 $ 3,301 Noncurrent Government grant receivable $ 64 $ —

Property Plant and Equipment (T

Property Plant and Equipment (Tables)	6 Months Ended
	Dec. 31, 2015
Property Plant And Equipment [Abstract]
Summary of Movement in Property Plant and Equipment	Property, plant and equipment, consisted of the following as of the dates indicated: Computer Equipment Research and Development Equipment Office Equipment Plant and Equipment Leasehold Improvements Total (in thousands) Opening balance July 1, 2014 $ 57 $ 214 $ 92 $ — $ 151 $ 514 Additions $ 35 $ 258 $ 1 $ — $ — $ 294 Disposals — — — — — — Depreciation (25 ) (86 ) (12 ) — (29 ) (152 ) Exchange rate adjustment (11 ) (52 ) (19 ) — (25 ) (107 ) Closing balance June 30, 2015 $ 56 $ 334 $ 62 $ — $ 97 $ 549 Additions $ 71 $ 800 $ 68 $ 449 $ 1,406 $ 2,794 Disposals — — — — — — Depreciation (15 ) (70 ) (9 ) (13 ) (52 ) (159 ) Exchange rate adjustment (2 ) (2 ) (6 ) (18 ) (59 ) (87 ) Closing balance December 31, 2015 $ 110 $ 1,062 $ 115 $ 418 $ 1,392 $ 3,097
Schedule of Acquired Certain Manufacturing Assets	In September 2015, the Company acquired certain manufacturing assets in Ireland as follows: Assets Acquired and Consideration (in thousands) Assets acquired Leasehold improvements $ 1,397 Plant & equipment 449 Office equipment (including furniture and fittings) 67 Laboratory equipment 64 Total assets acquired $ 1,977 Consideration Cash paid $ 1,887 Retention amount withheld 90 Total consideration $ 1,977

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Dec. 31, 2015
Payables And Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following as of the dates indicated: December 31, June 2015 2015 Current (in thousands) Accrued payroll and related expenses $ 925 $ 1,027 Accrued professional fees 233 361 Accrued research and development costs 1,749 964 Accrued expenses $ 2,907 $ 2,352 Noncurrent Accrued payroll and related expenses $ 49 $ — Accrued professional fees 3 — Accrued expenses $ 52 $ —

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Dec. 31, 2015
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, 2015 and June 30, 2015, including financial instruments, which the Company accounts for under the fair value option, are summarized in the following tables. December 31, 2015 Level 1 Level 2 Level 3 Assets/ Liabilities at Fair Value (in thousands) Assets Cash $ 43,079 $ — $ — $ 43,079 June 30, 2015 Level 1 Level 2 Level 3 Assets/ Liabilities at Fair Value Assets Cash $ 52,033 $ — $ — $ 52,033

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Calculation of Net Loss Per Participating Securities	The calculation of net loss per participating securities (“EPS”) for the three and six months ended December 31, 2015 and 2014 is presented below. Three Months Ended December 31, Six Months Ended December 31, 2015 2014 2015 2014 (in thousands, except share and per share amounts) (in thousands, except share and per share amounts) Net loss $ (5,691 ) $ (2,413 ) $ (9,651 ) $ (4,710 ) Weighted-average ordinary shares issued and outstanding—basic and diluted 11,506,236 1,198,828 11,474,394 1,138,520 Net loss per ordinary share—basic and diluted $ (0.49 ) $ (2.01 ) $ (0.84 ) $ (4.14 )
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 September Six Months Ended December 31, 2015 2014 2015 2014 (in thousands, except share and per share amounts) (in thousands, except share and per share amounts) Preference Shares — 5,937,160 — 5,937,160 Share-based awards 1,052,420 477,392 1,052,420 477,392 Warrants 1,766,998 1,766,998 1,766,998 1,766,998 Total 2,819,418 8,181,550 2,819,418 8,181,550

Valuation of Share Awards (Tabl

Valuation of Share Awards (Tables)	6 Months Ended
	Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Estimated Fair Value of Share Awards	The fair value of the share awards was estimated using the following assumptions: Three Months Ended December 31, 2015 Six Months Ended December 31, 2015 Risk free interest rate 1.7% 1.7% Expected term (in years) 1 year 1 - 4 years Expected volatility 75% 75% Forfeiture rate 0% 7.5% Expected dividend yield zero zero
Summary of Share Option Activities	The following table summarizes share option activity for fiscal year 2015 and the six months ended December 31, 2015: Shares Issuable Under Options Weighted- Average Exercise Price Outstanding as of July 1 470,479 $ 2.33 Granted 663,661 9.55 Exercised (96,540 ) 0.125 Ordinary shares no longer subject to limited recourse loans (109,611 ) (1) 4.20 Repurchased (145,069 ) 6.35 Expired or forfeited (6,289 ) 0.125 Outstanding as of June 776,631 $ 8.18 Granted 60,000 $ 5.10 Exercised (126,017 ) 0.125 Repurchased — — Expired or forfeited — — Outstanding as of December 31, 2015 710,614 $ 9.35 Options vested and expected to vest, as of June 159,937 $ 5.77 Options vested and expected to vest, as of December 31, 2015 329,812 $ 9.63 (1) Reflects ordinary shares issued subject to limited recourse loans.
Summary of Restricted Share Unit Activity	The table below presents the Company’s restricted share unit activity for fiscal year 2015 and the six months ended December 31, 2015: Number of Restricted Share Units Weighted Average Grant Date Fair Value Outstanding as of July 1 29,214 $ 5.15 Granted 57,947 7.83 Converted (29,489 ) 5.85 Forfeited — — Outstanding as of June 57,672 $ 7.48 Granted 309,334 $ 4.28 Converted (25,200 ) 7.61 Forfeited — — Outstanding as of December 31, 2015 341,806 $ 4.57 Converted and expected to convert, as of June 4,400 $ 9.19 Converted and expected to convert, as of December 31 — $ —
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, 2015 and 2014 as follows: Three Months Ended December 31, Six Months Ended December 31, 2015 2014 2015 2014 (in thousands) (in thousands) Research and development $ 193 $ 131 $ 402 $ 173 General and administrative 286 212 537 365 Total $ 479 $ 343 $ 939 $ 538

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Summary of Commitments for Operating Leases and Purchase Obligations	Operating Leases and Purchase Obligations Commitments consisted of the following as of the dates indicated: Total Less than 1 Year 1-3 Years 3-5 Years After 5 Years December 31, 2015 (in thousands) Operating leases $ 1,405 $ 190 $ 400 $ 253 $ 562 Purchase obligations 2,007 2,007 — — — Total $ 3,412 $ 2,197 $ 400 $ 253 $ 562 Total Less than 1 Year 1-3 Years 3-5 Years After 5 Years June 30, 2015 (in thousands) Operating leases $ 352 $ 109 $ 190 $ 53 $ — Purchase obligations 680 680 — — — Total $ 1,032 $ 789 $ 190 $ 53 $ —

Organization and Description 30

Organization and Description of Business - Addtional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended					6 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)	Mar. 31, 2015USD ($)shares	Feb. 28, 2015$ / sharesshares	Nov. 30, 2014	Aug. 31, 2014	Dec. 31, 2015USD ($)Program	Jun. 30, 2015USD ($)shares	Oct. 31, 2015Cat
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of cats expected for new study enrollment | Cat								90
Number of biological programs | Program						15
Accumulated deficit						$ (33,306)	$ (23,655)
Cash						$ 43,100
Share consolidation, ratio				0.8
Convertible preference shares, shares outstanding | shares		5,937,160
Preference shares converted into ordinary shares | shares		5,937,160
Operating lease expiration period						5 years
Common Stock
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Issuance of ordinary shares, shares | shares							4,176,903
Initial public offering
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Offering expenses payable		$ 900
Initial public offering | Common Stock
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Issuance of ordinary shares, shares | shares		200,000	4,000,000
Public offering price (in dollars per share) | $ / shares			$ 10
Proceeds from Initial Public Offering, Gross		$ 41,800
Proceeds from Initial Public Offering, Net		38,000
Underwriting discount		$ 2,900
Tullamore, Ireland
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Payments to secure manufacturing assets on lease	$ 2,000
Operating lease expiration period	10 years					10 years
Nexvet Australia Pty Ltd
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Share consolidation, ratio					0.25
Stockholders' Equity, Reverse Stock Split						In August 2014, Nexvet Australia Pty Ltd (“Nexvet Australia”) completed a one-for-four share consolidation pursuant to which each holder of ordinary shares and preference shares received one ordinary share or preference share for every four ordinary shares or preference shares as applicable, 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 Biopharma
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 pursuant to which 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 as applicable, 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 four-for-five basis, with a proportionate adjustment to the exercise or conversion price, as applicable.

Summary of Significant Accoun31

Summary of Significant Accounting Policies - Additional Information (Details) AUD in Millions	6 Months Ended
	Dec. 31, 2015AUD
Accounting Policies [Line Items]
Revenues	AUD 20
Property plant and equipment depreciation methods	Depreciation on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets.
Property plant and equipment amortization methods	Leasehold improvements are amortized on the straight-line method over the shorter of the remaining lease term or estimated useful life of the asset.
Minimum
Accounting Policies [Line Items]
Estimated useful life of property plant and equipment	3 years
Maximum
Accounting Policies [Line Items]
Estimated useful life of property plant and equipment	10 years

Summary of Significant Accoun32

Summary of Significant Accounting Policies - Reconciliation of Total Assets, Property and Equipment, Net and Total Property and Equipment Additions by Geography to Consolidated (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 48,643	$ 56,672
Property, plant and equipment, net	3,097	549	$ 514
Total property and equipment additions	2,794	294
United States
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	36,160	38,973
Property, plant and equipment, net	10	4
Total property and equipment additions	3	4
Australia
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	9,054	17,259
Property, plant and equipment, net	1,122	538
Total property and equipment additions	695	283
Tullamore, Ireland
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	3,429	440
Property, plant and equipment, net	1,965	7
Total property and equipment additions	$ 2,096	$ 7

Other Income Receivable - Sched

Other Income Receivable - Schedule of Other Income Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Current
Research and development incentive receivable	$ 916	$ 3,242
Government grant receivable	111
Other	30	59
Other income receivable	1,057	$ 3,301
Noncurrent
Government grant receivable	$ 64

Property Plant and Equipment -

Property Plant and Equipment - Summary of Movement in Property Plant and Equipment (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2015
Property Plant And Equipment [Line Items]
Opening balance	$ 549	$ 514
Additions	2,794	294
Depreciation	(159)	(152)
Exchange rate adjustment	(87)	(107)
Closing balance	3,097	549
Computer Equipment
Property Plant And Equipment [Line Items]
Opening balance	56	57
Additions	71	35
Depreciation	(15)	(25)
Exchange rate adjustment	(2)	(11)
Closing balance	110	56
Research and Development Equipment
Property Plant And Equipment [Line Items]
Opening balance	334	214
Additions	800	258
Depreciation	(70)	(86)
Exchange rate adjustment	(2)	(52)
Closing balance	1,062	334
Office Equipment
Property Plant And Equipment [Line Items]
Opening balance	62	92
Additions	68	1
Depreciation	(9)	(12)
Exchange rate adjustment	(6)	(19)
Closing balance	115	62
Plant and Equipment
Property Plant And Equipment [Line Items]
Additions	449
Depreciation	(13)
Exchange rate adjustment	(18)
Closing balance	418
Leasehold Improvements
Property Plant And Equipment [Line Items]
Opening balance	97	151
Additions	1,406
Depreciation	(52)	(29)
Exchange rate adjustment	(59)	(25)
Closing balance	$ 1,392	$ 97

Property Plant and Equipment 35

Property Plant and Equipment - Schedule of Acquired Certain Manufacturing Assets (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2015USD ($)
Assets acquired
Total assets acquired	$ 1,977
Consideration
Cash paid	1,887
Retention amount withheld	90
Total consideration	1,977
Leasehold Improvements
Assets acquired
Total assets acquired	1,397
Plant and Equipment
Assets acquired
Total assets acquired	449
Office Equipment (Including Furniture and Fittings)
Assets acquired
Total assets acquired	67
Laboratory Equipment
Assets acquired
Total assets acquired	$ 64

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Current
Accrued payroll and related expenses	$ 925	$ 1,027
Accrued professional fees	233	361
Accrued research and development costs	1,749	964
Accrued expenses	2,907	$ 2,352
Noncurrent
Accrued payroll and related expenses	49
Accrued professional fees	3
Accrued expenses	$ 52

Ordinary Shares - Additional In

Ordinary Shares - Additional Information (Details) - shares	Dec. 31, 2015	Jun. 30, 2015
Equity [Abstract]
Ordinary shares, shares outstanding	11,558,133	11,406,916

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Assets
Cash	$ 43,079	$ 52,033
Level 1
Assets
Cash	$ 43,079	$ 52,033

Net Loss Per Share - Calculatio

Net Loss Per Share - Calculation of Net Loss Per Participating Securities (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Earnings Per Share Basic And Diluted [Abstract]
Net loss	$ (5,691)	$ (2,413)	$ (9,651)	$ (4,710)	$ (11,857)
Weighted-average ordinary shares issued and outstanding—basic and diluted	11,506,236	1,198,828	11,474,394	1,138,520
Net loss per ordinary share—basic and diluted	$ (0.49)	$ (2.01)	$ (0.84)	$ (4.14)

Net Loss Per Share - Ordinary S

Net Loss Per Share - Ordinary Share Equivalents Excluded from Calculation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2015	Dec. 31, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	2,819,418	8,181,550	2,819,418	8,181,550
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		5,937,160
Share-Based Awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	1,052,420	477,392	1,052,420	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	1,766,998	1,766,998

Share Based Awards - Option Ter

Share Based Awards - Option Terms of Issue - Additional Information (Details) - $ / shares	6 Months Ended
	Dec. 31, 2015	Jun. 30, 2015	Jun. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary shares repurchased exercise price per share	$ 9.35	$ 8.18	$ 2.33
2012 Employee Share Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary shares repurchased exercise price per share	$ 6.35
Options expire date	Feb. 28, 2018

Share Based Awards - 2013 Long

Share Based Awards - 2013 Long Term Incentive Plan - Additional Infromation (Details)	1 Months Ended					6 Months Ended	12 Months Ended
	Aug. 31, 2015$ / sharesshares	Jun. 30, 2015$ / sharesshares	Nov. 30, 2014$ / sharesshares	Sep. 30, 2014$ / sharesshares	Nov. 30, 2013$ / sharesshares	Dec. 31, 2015$ / sharesshares	Jun. 30, 2015$ / sharesshares	Jun. 30, 2014shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share options to purchase ordinary shares | shares						60,000	663,661
Incentive awards, fair value per share of underlying ordinary shares		$ 7.12
Ordinary shares, nominal value per share		$ 0.125	$ 0.125			$ 0.125	$ 0.125
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				$ 0.10
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share options to purchase ordinary shares | shares	60,000		141,792	16,800	215,799
Incentive awards, fair value per share of underlying ordinary shares	$ 2.71		$ 9.37	$ 6.35	$ 5.15
Ordinary share exercise price	$ 5.10
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted share units to acquire ordinary shares | shares	8,500	57,672	16,427	21,240	29,214	341,806	57,672	29,214
Incentive awards, fair value per share of underlying ordinary shares	$ 4.97
Ordinary share exercise price	$ 0.125
2013 Long Term Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary share exercise price			$ 0.125	$ 0.10	$ 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 vest 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
2013 Long Term Incentive Plan | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of share options and restricted share units held by held by employees and consultants			1 year
2013 Long Term Incentive Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of share options and restricted share units held by held by employees and consultants			3 years

Share Based Awards - 2015 Long

Share Based Awards - 2015 Long Term Incentive Plan - Additional Infromation (Details) - $ / shares

1 Months Ended

6 Months Ended

12 Months Ended

Nov. 30, 2015

Sep. 30, 2015

Aug. 31, 2015

Jun. 30, 2015

May. 31, 2015

Nov. 30, 2014

Sep. 30, 2014

Nov. 30, 2013

Dec. 31, 2015

Jun. 30, 2015

May. 13, 2015

Jun. 30, 2014

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

Incentive awards, fair value per share of underlying ordinary shares

$ 7.12

Share options to purchase ordinary shares

60,000

663,661

Bonus Awards

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

Ordinary shares issued

42,691

Ordinary shares issued per share

$ 0.125

$ 0.125

Directors

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

Vesting period of shares

2,280

Employees And Directors

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

Restricted share units to acquire ordinary shares

298,834

Ordinary share exercise price

$ 0.125

New Employee

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

Restricted share units to acquire ordinary shares

2,000

Incentive awards, fair value per share of underlying ordinary shares

$ 4.76

Ordinary share exercise price

$ 0.125

Employee Stock Option

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

Incentive awards, fair value per share of underlying ordinary shares

$ 2.71

$ 9.37

$ 6.35

$ 5.15

Ordinary share exercise price

$ 5.10

Share options to purchase ordinary shares

60,000

141,792

16,800

215,799

Employee Stock Option | Employees

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

Share options to purchase ordinary shares

360,000

Incentive awards, fair value per share of underlying ordinary shares

$ 5.93

Restricted Stock

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

Restricted share units to acquire ordinary shares

8,500

57,672

16,427

21,240

29,214

341,806

57,672

29,214

Incentive awards, fair value per share of underlying ordinary shares

$ 4.97

Ordinary share exercise price

$ 0.125

Restricted Stock | Directors

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

Restricted share units to acquire ordinary shares

20,280

Incentive awards, fair value per share of underlying ordinary shares

6.99

Minimum | Employees And Directors

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

Incentive awards, fair value per share of underlying ordinary shares

4.26

Maximum | Employees And Directors

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

Incentive awards, fair value per share of underlying ordinary shares

$ 4.27

2015 Equity Incentive Plan

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

Common Stock, Capital Shares Reserved for Future Issuance

1,280,000

Percentage of shares issued under equity incentive plan

4.00%

4.00%

Vesting period of share options and restricted share units held by held by employees and consultants

4 years

2015 Equity Incentive Plan | Employees

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

Ordinary share exercise price

15

2015 Equity Incentive Plan | Directors

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

Ordinary share exercise price

$ 0.125

2015 Equity Incentive Plan | Minimum

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

Vesting period of share options and restricted share units held by held by employees and consultants

1 year

2015 Equity Incentive Plan | Minimum | Directors

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

Vesting period of share options and restricted share units held by held by employees and consultants

1 year

2015 Equity Incentive Plan | Maximum

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

Vesting period of share options and restricted share units held by held by employees and consultants

5 years

2015 Equity Incentive Plan | Maximum | Directors

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

Vesting period of share options and restricted share units held by held by employees and consultants

5 years

Valuation of Share Awards - Est

Valuation of Share Awards - Estimated Fair Value of Share Awards (Details)	3 Months Ended	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk free interest rate	1.70%	1.70%
Expected term (in years)	1 year
Expected volatility	75.00%	75.00%
Forfeiture rate	0.00%	7.50%
Expected dividend yield	0.00%	0.00%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)		1 year
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)		4 years

Valuation of Share Awards - Sum

Valuation of Share Awards - Summary of Share Option Activities (Details) - $ / shares	6 Months Ended	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares Issuable Under Options, Outstanding	776,631	470,479
Shares Issuable Under Options, Granted	60,000	663,661
Shares Issuable Under Options, Exercised	(126,017)	(96,540)
Shares Issuable Under Options, Ordinary shares no longer subject to limited recourse loans		(109,611)
Shares Issuable Under Options, Repurchased		(145,069)
Shares Issuable Under Options, Expired or forfeited		(6,289)
Shares Issuable Under Options, Outstanding	710,614	776,631
Shares Issuable Under Options, vested and expected to vest	329,812	159,937
Weighted Average Exercise Price, Outstanding	$ 8.18	$ 2.33
Weighted Average Exercise Price, Granted	5.10	9.55
Weighted Average Exercise Price, Exercised	0.125	0.125
Weighted Average Exercise Price, Ordinary shares no longer subject to limited recourse loans		4.20
Weighted Average Exercise Price, Repurchased		6.35
Weighted Average Exercise Price, expired or forfeited		0.125
Weighted Average Exercise Price, Outstanding	9.35	8.18
Weighted Average Exercise Price, Options vested and expected to vest	$ 9.63	$ 5.77

Valuation of Share Awards - S46

Valuation of Share Awards - Summary of Restricted Share Unit Activity (Details) - Restricted Stock - $ / shares	6 Months Ended	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Restricted Share Units, Outstanding	57,672	29,214
Number of Restricted Share Units, Granted	309,334	57,947
Number of Restricted Share Units, Converted	(25,200)	(29,489)
Number of Restricted Share Units, Outstanding	341,806	57,672
Number of Restricted Share Units , Converted and expected to convert		4,400
Weighted Average Grant Date Fair Value, Outstanding	$ 7.48	$ 5.15
Weighted Average Grant Date Fair Value, Granted	4.28	7.83
Weighted Average Grant Date Fair Value, Converted	7.61	5.85
Weighted Average Grant Date Fair Value, Outstanding	$ 4.57	7.48
Weighted Average Grant Date Fair Value, Converted and expected to convert		$ 9.19

Valuation of Share Awards - Sha

Valuation of Share Awards - Share Based Compensation Expense Related to Share Options and Restricted Share Units (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Recognized share-based compensation expense	$ 479	$ 343	$ 939	$ 538
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Recognized share-based compensation expense	193	131	402	173
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Recognized share-based compensation expense	$ 286	$ 212	$ 537	$ 365

Valuation of Share Awards - Add

Valuation of Share Awards - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Weighted average remaining contract life of outstanding options	5 years 2 months 12 days
Weighted average remaining contract life of outstanding restricted share units	1 year 9 months 18 days
Unrecognized share-based compensation expenses share awards	$ 3.7	$ 3.1
Unrecognized compensation expense weighted average period	5 years 6 months	4 years

Commitments and Contingencies -

Commitments and Contingencies - Summary of Commitments for Operating Leases and Purchase Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Operating leases	$ 1,405	$ 352
Operating leases Less than1 Year	190	109
Operating leases 1-3Years	400	190
Operating leases 3-5Years	253	53
Operating leases After 5Years	562
Purchase obligations	2,007	680
Purchase obligations next 12 months	2,007	680
Total contractual	3,412	1,032
Total contractual, next 12 months	2,197	789
Total contractual, 1-3 years	400	190
Total contractual, 3-5 years	253	$ 53
Total contractual, After 5 years	$ 562

Commitments and Contingencies50

Commitments and Contingencies - Additional Information (Details) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2015	Jun. 30, 2015	Jun. 30, 2013
Commitments and Contingencies [Line Items]
Operating lease expiration period		5 years
Operating lease commitments		$ 300,000	$ 400,000
Rent expense		106,000	200,000
Build-out incentive		$ 11,000	26,000
Rental commitments				$ 0
Unexpired term of lease		60 months
Contracts with suppliers for goods and services		$ 2,007,000	$ 680,000
Tullamore, Ireland
Commitments and Contingencies [Line Items]
Operating lease expiration period	10 years	10 years
Operating lease commitments		$ 1,100,000

Related Party Transaction - Add

Related Party Transaction - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Related Party Transaction [Line Items]
General and administrative	$ 1,779,000	$ 2,440,000	$ 3,649,000	$ 5,258,000
Research and development	3,790,000	2,226,000	7,515,000	4,765,000
Ridge Biotechnology Consulting L L C
Related Party Transaction [Line Items]
General and administrative		39,000	67,000	100,000
Payable to related party					$ 13,000
Biocomm Squared Pty Ltd
Related Party Transaction [Line Items]
Payable to related party	24,000		24,000		$ 17,000
Research and development	$ 57,000	$ 90,000	$ 62,000	$ 115,000