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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jun. 30, 2012	Sep. 17, 2012
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Trading Symbol	MEIP
Entity Registrant Name	MEI Pharma, Inc.
Entity Central Index Key	0001262104
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		21,673,482
Entity Public Float	$ 3,100,000

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011
Current assets:
Cash and cash equivalents	$ 6,202	$ 3,858
Prepaid expenses and other current assets	146	272
Total current assets	6,348	4,130
Property and equipment, net	25	38
Total assets	6,373	4,168
Current liabilities:
Accounts payable	594	328
Accrued liabilities	1,180	921
Derivative liabilities		1,125
Total current liabilities	1,774	2,374
Commitments (Note 7)
Stockholders' equity:
Common stock, $0.00000002 par value; 113,000,000 shares authorized; 20,498,946 shares and 8,881,089 shares issued and outstanding at June 30, 2012 and 2011, respectively
Additional paid-in-capital	89,710	79,382
Deficit accumulated during the development stage	(85,111)	(77,588)
Total stockholders' equity	4,599	1,794
Total liabilities and stockholders' equity	6,373	4,168
Series A Preferred Stock
Stockholders' equity:
Preferred stock
Series B Preferred Stock
Stockholders' equity:
Preferred stock

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2012	Jun. 30, 2011
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized;	100,000	100,000
Common stock, par value	$ 0.00000002	$ 0.00000002
Common stock, shares authorized	113,000,000	113,000,000
Common stock, shares issued	20,498,946	8,881,089
Common stock, shares outstanding	20,498,946	8,881,089
Series A Preferred Stock
Preferred stock, shares issued	1,000	1,000
Preferred stock, share outstanding	1,000	1,000
Series B Preferred Stock
Preferred stock, shares issued	742	742
Preferred stock, share outstanding	0	0

Consolidated Statements Of Operations - USD ($) $ in Thousands	12 Months Ended		139 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
Operating expenses:
Research and development	$ (4,915)	$ (2,115)	$ (44,104)
License fees			(21,500)
General and administrative	(3,479)	(4,336)	(22,770)
Total operating expenses	(8,394)	(6,451)	(88,374)
Loss from operations	(8,394)	(6,451)	(88,374)
Other income (expense):
Fair value of derivative liabilities in excess of proceeds		(508)	(508)
Adjustments to fair value of derivatives	1,139	49	1,188
Interest and dividend income	39	130	2,899
Financing costs	(406)		(406)
Gain on sale of investment	100		100
Income tax expense	(1)	(1)	(10)
Net loss arising during development stage	$ (7,523)	$ (6,781)	$ (85,111)
Net loss per share, basic and diluted	$ (0.56)	$ (0.89)
Shares used to calculate net loss per share	13,486,251	7,643,408

Consolidated Statement Of Stockholders' Equity - USD ($) $ in Thousands	Total	Series A Preferred Shares	Series B Preferred Shares	Common Shares	Note Receivable	Additional paid in capital	Deficit accumulated during development stage
Net loss arising during development stage	$ (123)						$ (123)
Issuance of common stock				252,300
Issuance of common stock	9,022					$ 9,022
Ending Balance at Jun. 30, 2002				5,202,300
Ending Balance at Jun. 30, 2002	8,899					9,022	(123)
Net loss arising during development stage	(3,033)						(3,033)
Foreign currency translation adjustments	31
Comprehensive loss	(3,002)
Issuance of common stock				900
Issuance of common stock	36					36
Ending Balance at Jun. 30, 2003				5,203,200
Ending Balance at Jun. 30, 2003	5,933					9,058	(3,156)
Net loss arising during development stage	(8,538)						(8,538)
Foreign currency translation adjustments	(31)
Comprehensive loss	(8,569)
Issuance of common stock				490,600
Issuance of common stock	25,578					25,578
Ending Balance at Jun. 30, 2004				5,693,800
Ending Balance at Jun. 30, 2004	22,942					34,636	(11,694)
Net loss arising during development stage	(6,421)						(6,421)
Comprehensive loss	(6,421)
Ending Balance at Jun. 30, 2005				5,693,800
Ending Balance at Jun. 30, 2005	16,521					34,636	(18,115)
Net loss arising during development stage	(7,386)						(7,386)
Comprehensive loss	(7,386)
Ending Balance at Jun. 30, 2006				5,693,800
Ending Balance at Jun. 30, 2006	9,135					34,636	(25,501)
Net loss arising during development stage	(13,820)						(13,820)
Comprehensive loss	(13,820)
Issuance of common stock				632,931
Issuance of common stock	16,820					16,820
Equity issued as share-based payment (in shares)				12,363
Equity issued as share-based payment \| Warrant	1,199					1,199
Equity issued as share-based payment	443					443
Ending Balance at Jun. 30, 2007				6,339,094
Ending Balance at Jun. 30, 2007	13,777					53,098	(39,321)
Net loss arising during development stage	(12,410)						(12,410)
Comprehensive loss	(12,410)
Issuance of common stock				546,400
Issuance of common stock	14,727					14,727
Share-based compensation expense	441					441
Ending Balance at Jun. 30, 2008				6,885,494
Ending Balance at Jun. 30, 2008	16,535					68,266	(51,731)
Net loss arising during development stage	(11,180)						(11,180)
Comprehensive loss	(11,180)
Issuance of common stock				460,830
Issuance of common stock	9,768					9,768
Share-based compensation expense	90					90
Ending Balance at Jun. 30, 2009				7,346,324
Ending Balance at Jun. 30, 2009	15,213					78,124	(62,911)
Net loss arising during development stage	(7,896)						(7,896)
Comprehensive loss	(7,896)
Share-based compensation expense	64					64
Ending Balance at Jun. 30, 2010				7,346,324
Ending Balance at Jun. 30, 2010	7,381					78,188	(70,807)
Net loss arising during development stage	(6,781)						(6,781)
Comprehensive loss	(6,781)
Issuance of common stock				890,418
Issuance of common stock	45					45
Issuance of preferred stock (in shares)		1,000	742
Issuance of preferred stock	665					665
Issuance of common stock for note receivable (in shares)				644,347
Issuance of common stock for note receivable					$ (1,002)	1,002
Redemption of preferred stock for cancellation of note receivable (in shares)			(742)
Redemption of preferred stock for cancellation of note receivable					$ 1,002	(1,002)
Share-based compensation expense	484					484
Ending Balance at Jun. 30, 2011		1,000		8,881,089
Ending Balance at Jun. 30, 2011	1,794					79,382	(77,588)
Net loss arising during development stage	(7,523)						(7,523)
Comprehensive loss	(7,523)
Issuance of common stock				11,617,857
Issuance of common stock	9,831					9,831
Amendment of warrant terms	(14)					(14)
Share-based compensation expense	511					511
Ending Balance at Jun. 30, 2012		1,000		20,498,946
Ending Balance at Jun. 30, 2012	$ 4,599					$ 89,710	$ (85,111)

Consolidated Statement Of Stockholders' Equity (Parenthetical) - shares	12 Months Ended
	Jun. 30, 2004	Jun. 30, 2002
Common Shares
Issuance of common stock warrants	239,200	252,300

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended		139 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
Cash flows from operating activities:
Net loss arising during the development stage	$ (7,523)	$ (6,781)	$ (85,111)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	511	484	2,791
Fair value of derivative liabilities in excess of proceeds		508	508
Gain on adjustment to fair value of derivatives	(1,139)	(49)	(1,188)
Financing costs	406		406
Depreciation	13	13	26
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	126	(170)	(146)
Accounts payable	266	(201)	594
Accrued liabilities	259	(4)	1,180
Amounts due to related party		(301)
Net cash used in operating activities	(7,081)	(6,501)	(80,940)
Cash flows from investing activities:
Purchases of property and equipment		(48)	(51)
Net cash used in investing activities		(48)	(51)
Cash flows from financing activities:
Net proceeds from issuance of common stock	9,831	711	86,934
Net proceeds from issuance of preferred stock		665	665
Financing costs	(406)		(406)
Net cash provided by financing activities	9,425	1,376	87,193
Net increase/(decrease) in cash and cash equivalents	2,344	(5,173)	6,202
Cash and cash equivalents at beginning of the period	3,858	9,031
Cash and cash equivalents at end of the period	6,202	3,858	6,202
Supplemental cash flow information:
Income taxes paid	$ (1)	$ (1)	$ (10)

The Company and Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2012

The Company and Summary of Significant Accounting Policies

Note 1. The Company and Summary of Significant Accounting Policies

The Company

MEI Pharma, Inc. (formerly Marshall Edwards, Inc.), together with its wholly-owned subsidiary Marshall Edwards Pty Ltd (“MEPL”), collectively referred to as MEI (the “Company”), is a development stage oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism. The Company was incorporated in December 2000 as a wholly-owned subsidiary of Novogen Limited (“Novogen”) and commenced operations in May 2002. MEI Pharma’s common stock is listed on the Nasdaq Capital Market and was previously listed under the symbol “MSHL” through June 30, 2012. On July 2, 2012, in conjuction with the change in our corporate name to MEI Pharma, Inc., our common stock began trading under the symbol “MEIP”. As of June 30, 2012, Novogen owned 63% of the outstanding shares of the Company’s common stock.

The Company’s drug development pipeline includes ME-143, ME-344 and Pracinostat. ME-143 and ME-344 are derived from an isoflavone technology platform that has generated a number of compounds with anti-tumor activity. These compounds have been shown to interact with specific targets resulting in the inhibition of tumor metabolism, a function critical for cancer cell survival. Pracinostat is a selective inhibitor of a group of enzymes called histone deacetylases (HDAC). HDACs belong to a larger set of proteins collectively known as epigenetic regulators that can alter gene expression by chemically modifying DNA or its associated chromosomal proteins. Abnormal activity of these regulators is believed to play an important role in cancer and other diseases.

Capital Resources

Since inception, the Company’s operations have been financed primarily through the sale of equity securities. The Company has incurred losses from operations and negative cash flows since its inception due in large part to expenditures for its research and development activities, and the Company expects to continue to incur substantial losses for the foreseeable future as it continues development of its lead drug candidates. As a result, the Company will need to obtain additional financing to fund its operations in the future. The Company intends to obtain any additional required funding through strategic relationships, public or private equity, debt financings, or other arrangements. Conditions in the financial markets and other factors could have a material adverse effect on the Company's ability to access sufficient funding on acceptable terms, or at all. If the Company cannot raise adequate additional capital, it will be required to delay, further reduce the scope of, or eliminate one or more of its research or development programs. In addition, the Company may be required to relinquish greater, or even all, rights to product candidates at earlier stages of development or on less favorable terms than it would otherwise choose.

Management believes that the Company’s existing cash balances of approximately $6.2 million as of June 30, 2012, will be sufficient to fund the Company’s operations until early calendar year 2013. Changes in the Company’s research and development plans or other changes affecting its operating expenses may affect actual future use of existing cash resources. If the Company is unable to obtain additional funds on favorable terms or at all, the Company may be required to cease or reduce its operations.

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. This basis of accounting contemplates the recovery of the Company’s assets and the satisfaction of liabilities in the normal course of business and does not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. While the basis of presentation remains that of a going concern, the Company has a history of recurring losses from operations and, as of June 30, 2012, the Company had no revenue sources, an accumulated deficit of $85.1 million and available cash and cash equivalents of $6.2 million. If the Company is unable to obtain additional funds on favorable terms or at all, the Company may be required to cease or reduce its operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and disclosures made in the accompanying notes to the consolidated financial statements. The Company uses estimates for certain accruals including clinical and pre-clinical study fees and expenses, share-based compensation, and valuations of derivative liabilities, among others. Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and highly liquid investments with remaining maturities of three months or less when purchased.

Fair Value of Financial Instruments

The carrying amounts of financial instruments such as cash equivalents and other current liabilities approximate the related fair values due to the short-term maturities of these instruments. The Company invests its excess cash into financial instruments which are readily convertible into cash, such as money market funds.

Concentration of Credit Risk

Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents. The Company maintains accounts in federally insured financial institutions in excess of federally insured limits. The Company also maintains investments in money market funds and similar short-term investments that are not federally insured. However, management believes that the Company is not exposed to significant credit risk due to the financial positions of the depository institutions in which these deposits are held and of the money market funds in which these investments are made.

Property and Equipment

Property and equipment are stated at cost and depreciated over the estimated useful lives of the assets (generally three to seven years) using the straight-line method. Leasehold improvements are stated at cost and are amortized over the shorter of the estimated useful lives of the assets or the lease term. Capital improvements are stated at cost and amortized over the estimated useful lives of the underlying assets.

Derivative Liabilities

The Company accounts for its warrants and other derivative financial instruments as either equity or liabilities based upon the characteristics and provisions of each instrument. Warrants classified as equity are recorded as additional paid-in capital on our consolidated balance sheet and no further adjustments to their valuation are made. Warrants classified as derivative liabilities and other derivative financial instruments that require separate accounting as liabilities are recorded on the Company’s consolidated balance sheet at their fair value on the date of issuance and are revalued on each subsequent balance sheet date until such instruments are exercised, amended to remove features that result in derivative liability classification, or expire, with any changes in the fair value between reporting periods recorded as other income or expense. Management estimates the fair value of these liabilities using option pricing models and assumptions that are based on the individual characteristics of the warrants or instruments on the valuation date, as well as assumptions for expected volatility, expected life, yield, and risk-free interest rate. All instruments creating derivative liability accounting treatment were settled during the quarter ended December 31, 2011. There were no remaining derivative liabilities as of June 30, 2012.

Research and Development Costs

Research and development costs are expensed as incurred and include costs paid to third-party contractors to perform research, conduct clinical trials and develop and manufacture drug materials. Clinical trial costs, including costs associated with third-party contractors, are a significant component of research and development expenses. The Company accrues research and development costs based on work performed. In determining the amount to accrue, management relies on estimates of total costs based on contract components completed, the enrollment of subjects, the completion of trials, and other events.

License Fees

Costs incurred related to the licensing of products that have not yet received regulatory approval to be marketed, or that are not commercially viable and ready for use, or have no alternative future use, are charged to expense in the period incurred.

Share-based Compensation

The fair value of each stock option granted is estimated on the grant date under the fair value method using a binomial valuation model. The estimated fair values of the stock options, including the effect of estimated forfeitures, are expensed over the vesting period. The Company recognized share-based compensation expenses of $511,000 and $484,000 during the years ended June 30, 2012 and 2011, respectively.

Interest and Dividend Income

Interest on cash balances is recognized when earned. Dividend revenue is recognized when the right to receive the payment is established.

Income Taxes

The Company’s income tax expense consists of current and deferred income tax expense or benefit. Current income tax expense or benefit is the amount of income taxes expected to be payable or refundable for the current year. A deferred income tax asset or liability is recognized for the future tax consequences attributable to tax credits and loss carryforwards and to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. As of June 30, 2012 and 2011, the Company has established a valuation allowance to fully reserve its net deferred tax assets. Tax rate changes are reflected in income during the period such changes are enacted. Changes in ownership may limit the amount of net operating loss carry-forwards that can be utilized in the future to offset taxable income.

The Financial Accounting Standards Board Topic on Income Taxes prescribes a recognition threshold and measurement attribute criteria for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. There were no unrecognized tax benefits as of June 30, 2012 and 2011.

Foreign Currency Translation

The functional currency of MEPL was the U.S. dollar. MEPL was legally dissolved in February 2012. Prior to MEPL’s dissolution, monetary assets and liabilities were translated from Australian dollars into U.S. dollars using the exchange rates in effect at the balance sheet date. Nonmonetary assets and liabilities and equity accounts were translated using historical exchange rates. Income statement amounts were translated using the average exchange rate for the periods. Realized gains and losses from foreign currency transactions are reflected in the consolidated statements of operations as a component of general and administrative expenses and, to date, have not been material.

Net Loss Per Share

Basic and diluted net loss per share are computed using the weighted-average number of shares of common stock outstanding during the period, less any shares subject to repurchase or forfeiture. There were no shares of common stock subject to repurchase or forfeiture for the years ended June 30, 2012 and 2011.

Net loss per share was determined as follows (in thousands, except per share amounts):


	Year ended June 30,
	2012			2011
Numerator
Net loss arising during the development stage	$	(7,523	)	$	(6,781	)

Denominator
Weighted average common shares outstanding		13,486,251			7,643,408

Basic and diluted net loss per share	$	(0.56	)	$	(0.89	)

Because the Company is in a net loss position, it has excluded stock options, warrants, and convertible preferred stock from the calculation of diluted net loss per share because these securities are antidilutive for all years presented.


	Year ended June 30,
	2012		2011
Weighted average anti-dilutive securities not included in diluted loss per share
Weighted average stock options outstanding		811,675		405,764
Weighted average warrants outstanding		3,198,630		585,402
Weighted average convertible preferred shares outstanding		4,827,000		687,682

Total weighted average anti-dilutive securities not included in diluted net loss per share		8,837,305		1,678,848

Recent Accounting Pronouncements

In June 2011, the FASB issued ASU No. 2011-05, an amendment to ASC Topic 220, Comprehensive Income, which amends current comprehensive income guidance. ASU No. 2011-05 eliminates the option to present the components of other comprehensive income (loss) as part of our statement of stockholders’ equity. Instead, we must report comprehensive income (loss) in either a single continuous statement of comprehensive income (loss) that contains two sections, net income (loss) and other comprehensive income (loss), or in two separate but consecutive statements. ASU No. 2011-05 will be effective for the first quarter of our fiscal year 2013 beginning July 1, 2012. The adoption of this update will require a change in the format of our current presentation.

- Definition

The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

+ References + Details

Fair Value Disclosures

12 Months Ended

Jun. 30, 2012

Fair Value Disclosures

Note 2. Fair Value Disclosures

Financial assets and liabilities are measured at fair value, which is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The following is a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:

Level 1: Quoted prices in active markets for identical instruments.

Level 2: Quoted prices for similar instruments in active markets or inputs that are observable for the asset or liability, either directly or indirectly.

Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

In conjunction with a private placement of equity securities in May 2011 (the “May 2011 private placement” as described in Note 5), the Company issued common stock on terms that included embedded derivative features, as well as warrants to purchase common stock. These instruments were accounted for as derivative liabilities (see Note 5).

The Company used Level 3 inputs for its valuation methodology for the embedded derivative liabilities and warrant derivative liabilities. The estimated fair values were determined using a Monte Carlo option valuation model based on various assumptions. The Company’s derivative liabilities were adjusted to reflect estimated fair value at each period end, with any decrease or increase in the estimated fair value being recorded in other income or expense.

The following table presents our valuation hierarchy for our financial assets and liabilities that are measured at fair value on a recurring basis, in thousands, as of June 30, 2011. Money market funds are included in cash and cash equivalents on the Company’s consolidated balance sheets.The Company did not have any money market funds or derivative liabilities as of June 30, 2012.


	Fair value measurements at June 30, 2011
	Balance at June 30, 2011			Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds	$	1,066		$	1,066	$	—	$	—
Liabilities:
Warrants and other derivative instruments	$	(1,125	)	$	—	$	—	$	(1,125	)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Composition of Certain Balance Sheet Items

12 Months Ended

Jun. 30, 2012

Composition of Certain Balance Sheet Items

Note 3. Composition of Certain Balance Sheet Items

Accrued expenses consisted of the following, in thousands:


	June 30,
	2012		2011
Accrued pre-clinical and clinical trial expenses	$	485	$	170
Accrued compensation and benefits		426		270
Accrued legal and professional services expenses		187		386
Other		82		95

	$	1,180	$	921

Related Party Transactions

12 Months Ended

Jun. 30, 2012

Related Party Transactions

Note 4. Related Party Transactions

In March 2012, the Company distributed one subscription right for each share of common stock and each Series A warrant exercisable for a share of common stock to holders of record as of March 30, 2012. Each subscription right entitled the holder to purchase one Unit, which consisted of 0.5 shares of our common stock and a warrant to purchase 0.25 shares of the Company’s common stock. In connection with the rights offering, in May 2012, Novogen purchased 8,988,675 units consisting of 4,494,337 shares of common stock and warrants to purchase an additional 2,247,169 shares of common stock. The warrants are exercisable for a five-year period beginning on May 11, 2012 at an exercise price of $1.19 per share. See further discussion regarding the Rights Offering in Note 5 “Stockholders’ Equity”.

On September 27, 2011, the Company entered into a Securities Subscription Agreement with Novogen, pursuant to which the Company sold to Novogen 1,333,333 shares of common stock, at a purchase price of $1.50 per share, for proceeds of $2,000,000. The offering closed on September 29, 2011. On December 28, 2011, the Company entered into a Securities Subscription Agreement with Novogen, pursuant to which the Company sold to Novogen 1,941,747 shares of common stock, at a purchase price of $1.03 per share, for proceeds of $2,000,000. The offering closed on December 29, 2011.

Isoflavone Transaction

In December 2010, the Company entered into an Asset Purchase Agreement (the “Isoflavone Asset Purchase Agreement”) with Novogen and Novogen Research Pty Limited, a wholly-owned subsidiary of Novogen, pursuant to which the Company agreed to purchase certain assets used in or generated under, or in connection with, the discovery, development, manufacture and marketing of intellectual property and products based on the field of isoflavonoid technology and on compounds known as isoflavones, including those related to the drug candidates Phenoxodiol, Triphendiol, ME-143 and NV-128, “Isoflavone-related Assets”, in exchange for 1,000 shares of the Company’s Series A Convertible Preferred Stock. The transaction closed on May 9, 2011. Under the terms of the Isoflavone Asset Purchase Agreement, the Company also assumed certain liabilities that are related to the Isoflavone-related Assets.

The Company did not record a value for the Isoflavone-related Assets acquired, since there were no historical carrying amounts recorded by Novogen and the transaction was between entities under common control.

In conjunction with signing the Isoflavone Asset Purchase Agreement, the Company and Novogen agreed to terminate, effective upon consummation of the Isoflavone Transaction, each of the following agreements, along with any other agreements relating thereto, with respect to the Isoflavone-related Assets:

•

September 2003 license agreement pursuant to which Novogen’s wholly-owned subsidiary, Novogen Research Pty Limited granted MEPL a world-wide, non-transferable license to conduct clinical trials and commercialize and distribute certain Phenoxodiol products;

•

May 2006 license agreement between MEPL and Novogen Research Pty Limited pursuant to which Novogen Research Pty Limited granted MEPL a world-wide, non-transferable license to conduct clinical trials and commercialize and distribute certain products based on Triphendiol and NV-143 (now known as ME-143);

•

August 2009 license agreement between MEPL and Novogen Research Pty Limited pursuant to which Novogen Research Pty Limited granted MEPL an exclusive, worldwide, non-transferable license to conduct clinical trials, commercialize and distribute NV-128.

These agreements are described in greater detail below.

License Agreements

The following license agreements between the Company and Novogen were terminated, effective upon consummation of the Isoflavone Transaction:

License Agreement for Phenoxodiol, as amended

In September 2003, the Company entered into the Phenoxodiol license agreement with Novogen. The agreement, which was subsequently amended, covered uses of Phenoxodiol in the field of prevention, treatment or cure of cancer in humans delivered in all forms except topical applications. MEPL paid Novogen a total of $16,000,000 in fiscal years 2004 through 2007 under the terms of the agreement.

Prior to its termination, the Phenoxodiol license agreement provided for additional future payments. Until the expiration of the exclusivity period as defined in the Phenoxodiol license agreement, MEPL would have been obligated to pay Novogen 2.5% of all net sales and 25% of commercialization income. After the exclusivity period, MEPL would have been obligated to pay Novogen 1.5% of net sales. Further, upon certain regulatory approvals, as defined in the Agreement, MEPL would have been required to pay Novogen Research Pty Limited $8,000,000, together with interest on such amount from December 31, 2006, to the approval date. Thereafter, MEPL would have been required to make annual license milestone fee payments of $8,000,000 to Novogen Research Pty Limited beginning the year of the regulatory approval, and each year thereafter during the exclusivity period.

License Agreement for Triphendiol and NV-143

In May 2006, the Company entered into the license agreement for Triphendiol and NV-143. The agreement covered uses of Triphendiol and NV-143 in the field of prevention, treatment or cure of cancer in humans delivered in all forms except topical applications. MEPL paid Novogen a total of $4,000,000 in fiscal years 2006 through 2009 under the terms of the agreement.

Prior to its termination, the agreement had provided for $3,000,000 to be paid to Novogen at the earlier of the date of enrollment of the first clinical trial subject in a Phase III clinical trial of the licensed product or December 31, 2011, and $8,000,000 at the earlier of the date of first receipt of a NDA for the licensed product from the FDA or equivalent approval from a government agency in another country or December 31, 2013.

Additionally, MEPL would have been obligated to pay Novogen royalties of 5% of all net sales and 25% of commercialization income during the term of the license; such royalty rate would have been reduced by 50% if the licensed patent rights in any country or territory expired, lapsed, or were revoked, or did not exist or were assigned to MEPL and the product was entirely manufactured and supplied in such country. MEPL would also have owed Novogen minimum royalties of $3,000,000 per year following the date of first receipt of an NDA for a licensed product from the FDA (or equivalent approval from a government agency in any other country) until the expiration of the term.

License Agreement for NV-128

In August 2009, the Company entered into the NV-128 license agreement. The agreement covered the use of NV-128 in the field of prevention, treatment and cure of cancer in humans delivered in all forms except topical applications. MEPL paid Novogen $1,500,000 in August 2009 under the terms of the Agreement.

Prior to its termination, the agreement had provided for $1,000,000 to be paid to Novogen at the earlier of the date an IND for the licensed product goes into effect or the equivalent approval of a government agency is obtained in another country or December 31, 2011, $2,000,000 at the earlier of the date of enrolment of the first clinical trial subject in a Phase II clinical trial of the licensed product or December 31, 2012, $3,000,000 at the earlier of the date of enrolment of the first clinical trial subject in a Phase III clinical trial of the licensed product or December 31, 2014, and $8,000,000 at the earlier of the date of first receipt of a NDA for the licensed product from the FDA or equivalent approval from a government agency in another country or December 31, 2017.

Additionally, MEPL would have been obligated to pay Novogen royalties of 5% of all net sales and 25% of commercialization income for the term of the license, and minimum royalties of $3,000,000 per year following the date of first receipt of an NDA for a licensed product from the FDA (or equivalent approval from a government agency in any other country) until the expiration of the term.

Amended and Restated Services Agreement

In September 2003, the Company, Novogen and MEPL entered into the Services Agreement. The Company and Novogen terminated the Services Agreement effective December 31, 2010. Under the terms of the Services Agreement, Novogen or its subsidiaries agreed to provide services reasonably required by the Company relating to the development and commercialization of Phenoxodiol and other licensed products, including Triphendiol and NV-143. Novogen agreed to provide these services at cost plus a 10% mark-up.

Transactions giving rise to expenditures amounting to $1,027,000 were made under the Services Agreement with Novogen during the year ended June 30, 2011. Of this amount, $708,000 related to service fees paid to Novogen for research and development services provided during the year ended June 30, 2011, reflecting the time spent by Novogen research staff on the development of Phenoxodiol, Triphendiol, NV-143 and NV-128. Additionally, $319,000 related to costs incurred for administration and accounting services provided by Novogen during the year ended June 30, 2011 . Novogen did not perform any services for the Company during the year ended June 30, 2012.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph b
-Article 3A

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Article 4

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Stockholders' Equity

12 Months Ended

Jun. 30, 2012

Stockholders' Equity

Note 5. Stockholders’ Equity

Equity Transactions

In May 2002, the Company sold 252,300 shares of its common stock and 252,300 warrants in an initial public offering, raising net proceeds of $9.0 million. The warrants were exercisable prior to November 30, 2003, at an exercise price of $40.00 per share. The Company’s common stock was listed for trading on the Alternative Investment Market, a sub-market of the London Stock Exchange (AIM).

In June 2003, 900 warrants were exercised, resulting in proceeds to the Company of $36,000. In November 2003, the remaining 251,400 warrants were exercised at an exercise price of $40.00 per share with proceeds to the Company of $10.1 million.

In December 2003, the Company sold 239,200 common stock units at a public offering price of $75.00 per unit. Each unit consisted of one share of common stock and one warrant to purchase one share of common stock, exercisable prior to December 18, 2006, at an exercise price of $90.00. In connection with the December 2003 offering, which raised net proceeds of $15.5 million , the Company’s common stock and warrants commenced trading separately on the NASDAQ Global Market. The 239,200 warrants subsequently expired without being exercised.

In January 2006, the Company voluntarily cancelled the trading of its common stock on the AIM.

In July 2006, the Company consummated a private placement with certain accredited investors, which raised net proceeds of $16.8 million. In conjunction with the private placement, the Company issued 632,931 shares of the Company’s common stock and warrants exercisable for 221,525 shares of the Company’s common stock at a purchase price of $29.00 per unit. Each unit consisted of one share of common stock and 0.35 of a warrant to purchase one share of common stock. The warrants, which subsequently expired without being exercised, had an exercise price of $43.50 per share, subject to certain adjustments. The Company filed a registration statement with the SEC, which was declared effective in September 2006, covering the shares of common stock issued in connection with the private placement and the shares of common stock underlying the warrants issued in the private placement.

In July 2006, in connection with a standby equity distribution agreement which the Company subsequently cancelled without issuing any shares, the Company paid a commitment fee of 12,363 shares of its common stock, and warrants to purchase 60,000 shares of its common stock. The warrants, which subsequently expired without being exercised, had an exercise price of $43.50 per share, subject to certain adjustments. The fair values of the shares and warrants issued were recorded as equity in the balance sheet and as general and administration expenses in the income statement during the year ended June 30, 2007.

In August 2007, the Company consummated a private placement with certain accredited investors, which raised net proceeds of $15.2 million. In conjunction with the private placement, the Company issued 546,400 shares of common stock at a purchase price of $30.00 per share. The investors also received a warrant to purchase an additional four shares of common stock for every block of 10 shares of common stock purchased. The warrants have an exercise price of $36.00 per share, and will expire in August 2012. The Company also issued 6,209 warrants to the placement agent, as part of the placement fee. Each warrant can be exercised for four shares of common stock. The warrants issued to the placement agent have an exercise price of $30.00 per share and will expire in August 2012. The fair value of warrants issued to the placement agent, valued at $441,000, has been recognized as equity in the balance sheet and offset against the proceeds raised in the offering. The Company filed a registration statement with the SEC, which was declared effective in October 2007, covering the shares of common stock issued in connection with the private placement and the shares of common stock underlying the warrants issued in the private placement.

In July 2008, the Company entered into a Securities Subscription Agreement with Novogen and certain accredited investors, which raised net proceeds of $9.8 million. In conjunction with the private placement, the Company issued 290,829 and 170,000 shares of common stock to Novogen and the accredited investors, respectively, at a purchase price of $21.70 per share. The shares were registered for resale under the Securities Act of 1933, as amended, pursuant to a shelf registration statement on Form S-3. In July 2008, in conjunction with the private placement, the Company issued 4,608 warrants to purchase common stock to a consultant for investment services performed for the Company. The warrants were exercisable immediately upon issuance, have an exercise price of $21.70 per share, and expire in July 2013.

In February 2011, the Company entered into an At Market Issuance Sales Agreement under which the Company may, from time to time, issue and sell shares of its common stock pursuant to a prospectus supplement related to a shelf registration statement covering sales of common stock with an aggregate offering price of up to $1,815,000, which the Company filed with the SEC on the same date. During February and March 2011, the Company issued 55,201 shares of common stock under the sales agreement for $131,000, resulting in net proceeds of $45,000 after deducting offering-related expenses.

In March 2011, the Company entered into a Stock Purchase Agreement with an accredited investor. During March 2011, as part of a contemplated series of transactions, the Company issued to the accredited investor (i) 644,347 shares of common stock for $1,001,700, and (ii) 742 shares of the Company’s newly designated Series B preferred stock, at a purchase price of $1,000 per share. The investor paid for the common shares by issuing and delivering to the Company secured, full-recourse promissory notes totaling $1,001,700, bearing interest at a rate of 2% per annum. Additionally, the investor paid $742,000 in cash for 742 Series B Preferred Shares. In March 2011, the Company redeemed and cancelled all of the outstanding Series B Preferred Shares that had been issued to the investor, and cancelled the promissory notes as payment for redemption of the Series B Preferred Shares. The Company’s net proceeds from the transactions with the investor were $665,000, after deducting offering-related expenses.

In April 2011, the Company filed a shelf registration statement on Form S-3 with the SEC (the “shelf registration statement”). The shelf registration statement was declared effective by the SEC in May 2011. The shelf registration statement permits the Company to sell, from time to time, up to $50,000,000 of common stock, preferred stock and warrants. Pursuant to SEC regulations, so long as the Company’s public float remains below $75 million, the Company cannot sell securities from the shelf registration statement which represent more than one third of the market value of the Company’s non-affiliated public float during any 12-month period.

May 2011 Private Placement

In May 2011, the Company entered into an Amended and Restated Securities Purchase Agreement (the “Amended Securities Purchase Agreement”) with certain accredited investors pursuant to which the Company agreed to issue and sell to the investors certain shares of the Company’s common stock, and warrants to purchase additional shares of common stock. Pursuant to the Amended Securities Purchase Agreement, in May 2011 the Company issued to the investors: (i) 835,217 shares (the “Initial Shares”) of common stock, at a purchase price of $1.333 per share; (ii) series A warrants (the “Series A warrants”) which initially represented the right to purchase up to 626,413 shares of common stock, up to a maximum of 2,250,564 shares; and (iii) series B warrants (the “Series B warrants”) which initially represented the right to purchase up to 2,165,534 shares of common stock. In addition, the Company agreed to issue certain additional shares of common stock (the “Adjustment Shares”) to the extent the price of the common stock is below $1.333 per share, but greater than or equal to $0.75 per share, on certain dates (“Adjustment Dates”) during the period ending June 26, 2012, including as a result of a subsequent offering by the Company of its securities at a price below the purchase price of the Initial Shares. The number of Adjustment Shares issuable was initially limited to 649,242, subject to proportionate increases to the extent the Series B warrants have been exercised prior to the applicable Adjustment Date, up to a maximum of 2,332,583 shares. If the trading price of the Company’s common stock is below $0.75 per share on any Adjustment Date, the Company will, in addition to issuing the applicable number of Adjustment Shares, refund to the investors an amount per share of common stock received by the investors in the transaction equal to the difference between $0.75 and the price of the common stock on such Adjustment Date. The transactions contemplated by the Amended Securities Purchase Agreement are referred to as the May 2011 private placement. Upon the closing of the May 2011 private placement, the Company also issued warrants to the placement agent for the purchase of up to 210,053 shares of common stock, which warrants were exercisable on the same terms as the Series A warrants.

On December 29, 2011, the Company issued an aggregate of 667,272 Adjustment Shares to the investors in accordance with the calculation of the applicable price, based on the trading price of the Company’s common stock, with respect to the first Adjustment Date. Additionally, on December 29, 2011, the Company issued an aggregate of 245,700 Adjustment Shares to the investors in connection with the private placement of common stock to Novogen that closed on December 29, 2011.

Terms of Series A and Series B Warrants

The Series A warrants became exercisable on the six month anniversary of the May 18, 2011 closing of the May 2011 private placement. The Series A warrants will expire on the fifth anniversary of the date on which the Series A warrants first became exercisable. Prior to the amendment of the warrant terms in September 2011 in conjunction with the Supplemental Agreement, as defined and described below, the Series A warrants were initially exercisable at an exercise price of $1.57 per share, subject to adjustment as provided in the Series A warrant agreements. Under the terms of the warrant agreements, the number of shares of common stock issuable upon exercise of the Series A warrants would be increased by an amount equal to 75% of the number of shares of common stock issued upon each exercise of the Series B warrants.

Prior to the amendment of the warrant terms in September 2011 in conjunction with the Supplemental Agreement, as described below, the initial exercise price per share of the Series B warrants was equal to the lower of (i) $1.333, and (ii) 85% of the arithmetic average of the lowest eight weighted average prices of the common stock during the 20 consecutive trading day period in the case of a voluntary exercise by the holders, ending on the trading day immediately preceding the date of delivery of a notice of exercise.

In July and August 2011, the investors exercised an aggregate of 1,294,000 Series B warrants for 1,294,000 shares of common stock. The Company received net proceeds of $1,094,000 in conjunction with the exercise of the Series B warrants. Pursuant to the terms of the Amended Securities Purchase Agreement, an additional 970,500 Series A warrants became exercisable as a result of these Series B warrant exercises.

Supplemental Agreement

On September 28, 2011, the Company entered into a Supplemental Agreement (the “Supplemental Agreement”) with each of the investors party to the Amended Securities Purchase Agreement.

Pursuant to the Supplemental Agreement, each of the Series A warrants and the Series B warrants issued pursuant to the Amended Securities Purchase Agreement were amended and restated (the “Amended Series A Warrants” and “Amended Series B Warrants”, respectively). The exercise price of each of the Series A warrants and Series B warrants was reduced to $1.00 per share. As amended, the exercise price of the Amended Series A Warrants is no longer subject to further adjustment upon the occurrence of certain events, including the subsequent sale or deemed sale by the Company of shares of common stock at a price per share below the exercise price of the Amended Series A Warrants; however, the Amended Series A Warrants continue to provide for certain customary anti-dilution adjustments.

The Series B warrants were amended to permit the exercise of such warrants on a cashless basis. Pursuant to the terms of the Supplemental Agreement, on September 28, 2011, the investors exercised, on a cashless basis, the Amended Series B Warrants for all of the remaining shares of common stock for which such Amended Series B Warrants were exercisable, resulting in the issuance by the Company of an aggregate of 305,603 shares of common stock. Pursuant to the terms of the Amended Securities Purchase Agreement, an additional 653,651 Series A warrants became exercisable as a result of these Series B warrant exercises. As of September 28, 2011, there were no remaining outstanding Series B warrants.

The Supplemental Agreement also effected certain amendments to the Amended Securities Purchase Agreement, including the extension, through September 28, 2013, of the period during which the investors have the right to participate in subsequent equity offerings of the Company. In connection with the amendments described above, the Company made cash payments to the investors in an aggregate amount of $365,000, which, together with $41,000 that the Company paid in other expenses related to the Supplemental Agreement, have been classified as ‘Financing Costs’ in the Consolidated Statement of Operations.

Derivative Liabilities

The Company accounted for the Series A and B warrants and the Adjustment Shares feature pursuant to the Amended Securities Purchase Agreement in accordance with accounting guidance for derivatives. The accounting guidance provides a two-step model to be applied in determining whether a financial instrument or an embedded feature in a financial instrument is indexed to an entity’s own stock that would qualify such financial instruments or embedded features for a scope exception. This scope exception specifies that a contract that would otherwise meet the definition of a derivative financial instrument would not be considered as such if the contract is both (i) indexed to the entity’s own stock and (ii) classified in the stockholders’ equity section of the balance sheet. The Company determined that the Series A and Series B warrants, prior to their amendment, were ineligible for equity classification as a result of the anti-dilution provisions in the Series A and Series B warrants that could have resulted in an adjustment to the warrant exercise price. Additionally, the Company determined that the Adjustment Shares feature, as specified in the Amended Securities Purchase Agreement, resulted in an embedded derivative. As a result of amending the Series A and Series B warrant terms pursuant to the Supplemental Agreement, and the exercise of the Amended Series B Warrants, as described above, the Series A and Series B warrants are no longer considered to be derivatives as of September 30, 2011. As a result of the Company’s completion of its contractual obligations under the Amended Securities Purchase Agreement related to the issuance of Adjustment Shares during December 2011, the Company had no remaining derivative liabilities as of June 30, 2012.

On the closing date of the May 2011 private placement, the derivative liabilities were initially recorded at their estimated fair values of $1,174,000. The fair value of the derivative liabilities exceeded the proceeds of the private placement of $666,000, and accordingly, no net amounts were allocated to the common stock. The $508,000 amount by which the recorded liabilities exceeded the proceeds was charged to other expense. On June 30, 2011, the total value of the derivative liabilities was $1,125,000, resulting in other income of $49,000. Such decrease in the estimated fair value was primarily due to the decrease in the Company’s common stock price and updates to the assumptions used in the option pricing models.

The derivative liabilities were valued at the closing date of the May 2011 private placement and at June 30, 2011 using a Monte Carlo valuation model with the following assumptions:


	May 18, 2011		June 30, 2011
Closing price per share of common stock	$	1.35	$	1.02
Expected volatility		121.5% - 122.1%		112.9% - 121.2%
Risk-free interest rate		.19% - 1.87%		.19% - 1.76%
Dividend yield		—		—
Expected lives of underlying securities		12-66 months		12-66 months

In addition, as of the valuation dates, management assessed the probabilities of Series A and Series B warrants being exercised due to trading restrictions on the unregistered shares of common stock issued or issuable from the exercise of the Series A and Series B warrants and included related assumptions in the option pricing models. Management also applied a discount for lack of marketability to the valuation of the derivative liabilities based on such trading restrictions. The option pricing model used to value the Series A and Series B warrants is particularly sensitive to such probabilities, as well as to the closing price per share of the Company’s common stock.

The completion of the Company’s obligations related to the derivative liabilities during the year ended June 30, 2012 resulting from the amendment of the Series A warrant terms, the exercise of the Series B warrants in September 2011, and completion in December 2011 of the Company’s obligation to issue additional Adjustment Shares resulted in extinguishment of the derivative liabilities; accordingly, the Company recorded other income of $1,125,000, classified as ‘Adjustments to Fair Value of Derivatives’ in the Consolidated Statement of Operations, associated with the decrease in fair value of the derivative liabilities. Additionally, during the year ended June 30, 2012, the Company recorded a gain of $14,000 in conjunction with amending the Series A warrant terms, based on the fair value of the Amended Series A Warrants, classified as ‘Adjustments to Fair Value of Derivatives’ in the Consolidated Statement of Operations.

Private Placements with Novogen

On September 27, 2011, we entered into a Securities Subscription Agreement with Novogen, pursuant to which we sold to Novogen 1,333,333 shares of our common stock, at a purchase price of $1.50 per share, for proceeds of $2,000,000. The offering closed on September 29, 2011. On December 28, 2011, we entered into a Securities Subscription Agreement with Novogen, pursuant to which we sold to Novogen 1,941,747 shares of our common stock, at a purchase price of $1.03 per share, for proceeds of $2,000,000. The offering closed on December 29, 2011.

Rights Offering

On March 26, 2012, the Company’s registration statement on Form S-1, as previously filed with the Securities and Exchange Commission on February 21, 2012 and amended on March 20, 2012, became effective. The Form S-1 was filed in connection with the Company’s rights offering (“Rights Offering”) to existing stockholders and to holders of our Series A warrants issued in connection with the May 2011 private placement. Pursuant to the Rights Offering, the Company distributed one subscription right for each share of common stock and each Series A warrant exercisable for a share of common stock to holders of record as of March 30, 2012. Each subscription right entitled the holder to purchase one Unit, which consisted of 0.5 shares of our common stock and a warrant to purchase 0.25 shares of the Company’s common stock. The subscription period expired on May 11, 2012. The Rights Offering also included an over-subscription privilege, which entitled stockholders to purchase additional Units that remained unsubscribed at the expiration of the Rights Offering. For every two Units purchased in the Rights Offering, stockholders received one share of common stock for a purchase price of $0.89 per share, which represents a 10 percent discount to the volume-weighted average price of the Company’s common stock for the 30 consecutive trading days ending on, and inclusive of, March 13, 2012, and warrants to purchase one-half of one share of common stock with an exercise price of $1.19 per share, which represented a 20 percent premium to the volume-weighted average price of the Company’s common stock during the same period. The warrants are exercisable for a five-year period beginning on May 11, 2012. The Company issued 5,830,202 shares of common stock and warrants to purchase 2,915,152 shares of common stock in conjunction with the Rights Offering. Net proceeds associated with the Rights Offering were $4.8 million.

Description of Capital Stock

The Company’s total authorized share capital is 113,100,000 shares consisting of 113,000,000 shares of common stock, $0.00000002 par value per share, and 100,000 shares of preferred stock, $0.01 par value per share.

Common Stock

The holders of common stock are entitled to one vote per share. In the event of a liquidation, dissolution or winding up of the Company’s affairs, holders of the common stock will be entitled to share rateably in all the Company’s assets that are remaining after payment of the Company’s liabilities and the liquidation preference of any outstanding shares of preferred stock. All outstanding shares of common stock are fully paid and non-assessable. The rights, preferences and privileges of holders of common stock are subject to any series of preferred stock that the Company has issued or that the Company may issue in the future. The holders of common stock have no pre-emptive rights and are not subject to future calls or assessments by the Company.

Preferred Stock

The Company’s Board of Directors has the authority to issue up to 100,000 shares of preferred stock with par value of $.01 per share in one or more series and to fix the rights, preferences, privileges and restrictions in respect of that preferred stock, including dividend rights, dividend rates, conversion rights, voting rights, terms of redemption (including sinking fund provisions), redemption prices and liquidation preferences, and the number of shares constituting such series and the designation of any such series, without future vote or action by the stockholders. Therefore, the board without the approval of the stockholders could authorize the issue of preferred stock with voting, conversion and other rights that could affect the voting power, dividend and other rights of the holders of shares or that could have the effect of delaying, deferring or preventing a change of control.

Series A Convertible Preferred Stock

In connection with the closing of the Isoflavone Transaction, the Company designated and issued 1,000 shares of Series A Convertible Preferred Stock.

Each share of the Series A Convertible Preferred Stock issued to Novogen in conjunction with the Isoflavone Transaction is convertible into 4,827 shares of common stock. In the event a Phase II clinical trial involving any of the isoflavone technology acquired by the Company pursuant to the Asset Purchase Agreement has achieved a statistically significant result (p=0.05 or less) or a first patient is enrolled in a Phase III clinical trial involving the such technology, whichever is earlier, each share of the Series A Convertible Preferred Stock not already converted may be converted into 9,654 shares of common stock.

The Company has an option to purchase, in a single transaction, all of the unconverted Series A Convertible Preferred Stock for an aggregate exercise price of $12,000,000 in cash for all of the Series A Convertible Preferred Stock and, where a portion of the Series A Convertible Preferred Stock has been converted, the exercise price shall be pro-rated. Upon the earlier of (i) the fifth anniversary of the closing of the Asset Purchase and (ii) a “change in control”, as defined in the Isoflavone Asset Purchase Agreement, of Novogen, all unconverted Series A Convertible Preferred Stock will automatically convert into common stock in accordance with the applicable conversion ratio.

Holders of the Series A Convertible Preferred Stock are not entitled to receive any dividend or other similar distributions, except in the event that the Company’s board of directors or any duly authorized committee thereof declares and authorizes a special dividend or distribution on any shares of Series A Convertible Preferred Stock. Additionally, holders of the Series A Convertible Preferred Stock are not entitled to vote any shares of the Series A Convertible Preferred Stock. The holders of the Series A Convertible Preferred Stock do not have any rights of pre-emption, except as the Company may otherwise agree in writing.

Series B Preferred Stock

The Series B Preferred Shares, all of which were redeemed and cancelled on March 31, 2011 in accordance with the terms described below, entitled holders to receive dividends in the amount of 10% per annum, payable in additional shares of Series B Preferred Shares. Holders of Series B Preferred Shares did not have voting rights, nor were the Series B Preferred Shares convertible into, or exchangeable for, any of our other property or securities. Any time after the initial issuance of Series B Preferred Shares (the “Series B Initial Issuance Date”), the Company had the right, at its option, to redeem all or a portion of the Series B Preferred Shares at a price per share equal to (a) 135% of the amount equal to $1,000 plus any accrued but unpaid dividends thereon (the “Series B Liquidation Value”) if redeemed prior to the first anniversary of the Series B Initial Issuance Date, (b) 126% of the Series B Liquidation Value if redeemed on or after the first anniversary but prior to the second anniversary of the Series B Initial Issuance Date, (c) 117% of the Series B Liquidation Value if redeemed on or after the second anniversary but prior to the third anniversary of the Series B Initial Issuance Date, (d) 108% of the Series B Liquidation Value if redeemed on or after the third anniversary but prior to the fourth anniversary of the Series B Initial Issuance Date, and (e) upon or after the fourth anniversary of the Series B Initial Issuance Date, $1,000 plus any accrued but unpaid dividends. Upon the Company’s liquidation, dissolution or winding up, holders of Series B Preferred Shares were entitled to be paid out of the Company’s assets, on a parity with holders of the Company’s common stock, an amount equal to $1,000 per share plus any accrued but unpaid dividends thereon.

Warrants

As of June 30, 2012, there were outstanding warrants to purchase 2,915,152 shares of the Company’s common stock at an exercise price of $1.19 per share, which expire in May 2017, issued in conjunction with the Rights Offering; 248,003 shares of the Company’s common stock at exercise prices ranging from $21.70 to $36.00 per share, which expire at various dates in calendar years 2012 and 2013; and outstanding Series A warrants and warrants issued to the Company’s placement agent for the May 2011 private placement to purchase up to 2,460,617 shares of common stock at an exercise price of $1.00 per share, which expire in November 2016.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
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-Name Accounting Research Bulletin (ARB)
-Number 43
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-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

Share-based Compensation

12 Months Ended

Jun. 30, 2012

Share-based Compensation

Note 6. Share-based Compensation

In December 2008, the Company adopted the MEI Pharma, Inc. 2008 Stock Omnibus Equity Compensation Plan (the “2008 Plan”), as amended and restated in 2011, under which 2,500,000 shares of common stock are authorized for issuance. The 2008 Plan provides for the grant of options and/or other stock-based or stock-denominated awards to the Company’s non-employee directors, officers, employees and advisors. As of June 30, 2012, there were a total of 863,560 options outstanding, including options to purchase a total of 398,010 shares of common stock which were granted to two of the Company’s officers outside of the 2008 Plan. As of June 30, 2012, there were 2,034,450 shares available for future grant under the 2008 Plan.

A summary of the Company’s stock option activity and related data follows:


	Outstanding Options
	Number of Shares		Weighted- Average Exercise Price
Balance at June 30, 2010		298,853	$	3.03
Granted		297,352		1.12
Forfeited/Expired		—		—

Balance at June 30, 2011		596,205		2.08
Granted		267,355		1.63
Forfeited/Expired		—		—

Balance at June 30, 2012		863,560	$	1.94

As of June 30, 2012, there were 256,334 options vested and exercisable, with a weighted-average exercise price of $2.35 and a remaining contractual term of 3.1 years. No stock option exercises occurred during the years ended June 30, 2012 or 2011. As of June 30, 2012, the total intrinsic value, which is the difference between the exercise price of the underlying options and the closing price of the Company’s common stock of $0.42 on that date, was zero.

Unrecognized compensation expense related to non-vested stock options totalled $373,000 as of June 30, 2012. Such compensation expense is expected to be recognized over a weighted-average period of 2.39 years.

The Company uses a binomial valuation model to estimate the grant date fair value of stock options. To calculate these fair values, the following assumptions were used:


	Year ended June 30,
	2012		2011
Risk-free interest rate		.62% - 1.32%		1.17% - 1.60%
Expected life		5 years		5 years
Expected volatility		145% - 152%		136% - 144%
Dividend yield		0%		0%
Weighted-average grant date fair value	$	1.43	$	0.98

Exercise prices and weighted-average remaining contractual lives for the options outstanding as of June 30, 2012 were:


Options Outstanding	Exercise Price	Weighted Average Remaining Contractual Life (Years)	Options Exercisable		Weighted Average Exercise Price of Options Exercisable
1,000	$0.61	4.9		—	$	—
82,232	$0.77	3.2		35,975	$	0.77
37,500	$1.15	3.3		14,842	$	1.15
177,620	$1.28	3.9		44,405	$	1.28
125,845	$1.34	4.3		—	$	—
73,463	$1.52	3.0		36,726	$	1.52
2,000	$1.53	4.2		—	$	—
110,195	$1.86	2.8		59,693	$	1.86
138,510	$1.90	4.1		—	$	—
110,195	$5.05	2.8		59,693	$	5.05
5,000	$6.30	1.6		5,000	$	6.30

863,560		3.5		256,334	$	2.35

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Position (SOP)
-Number 93-6
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+ Details

Commitments

12 Months Ended

Jun. 30, 2012

Commitments

Note 7. Commitments

The Company has contracted with various consultants and third parties to assist it in pre-clinical research and development and clinical trials work for its leading drug compounds. The contracts are terminable at any time, but obligate the Company to reimburse the providers for any time or costs incurred through the date of termination. Additionally, the Company has employment agreements with certain of its current employees that provide for severance payments and accelerated vesting for share-based awards if their employment is terminated under specified circumstances.

Leases

In July 2010, the Company entered into a lease arrangement to rent approximately 3,700 square feet of office space for 33 months beginning in July 2010 for monthly rental rates ranging from $10,109 to $10,734 over the lease term, plus other pass-through charges. The lease expires in April 2013, and the Company has two options to extend the lease term for one year each at the market rate in effect at the time of renewal. The Company recognizes rent expense on a straight-line basis over the term of the lease. Rent expense for the year ended June 30, 2012 was $118,000. Scheduled lease payments due for the year ending June 30, 2013 are $107,000.

- Definition

The entire disclosure for commitments and contingencies.

+ References

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+ Details

Segment Information

12 Months Ended

Jun. 30, 2012

Segment Information

Note 8. Segment Information

The Company has one operating segment, the discovery and development of pharmaceutical compounds. The Company’s business contained two geographic segments from inception until MEPL’s legal dissolution in April 2012. The following segment information is net of intercompany transactions.


	Year Ended June 30,
	2012								2011
	USA			Australia		Total			USA			Australia			Total
	(in thousands)								(in thousands)
Statement of Operations:
Income (loss) from operations	$	(8,473	)	$	79	$	(8,394	)	$	(5,016	)	$	(1,435	)	$	(6,451	)
Other income (expense)		871			—		871			(329	)		(1	)		(330	)

Net loss arising during development stage	$	(7,602	)	$	79	$	(7,523	)	$	(5,345	)	$	(1,436	)	$	(6,781	)

Balance Sheet:
Segment assets	$	6,373		$	—	$	6,373		$	4,112		$	56		$	4,168
Segment liabilities	$	(1,774	)	$	—	$	(1,774	)	$	(1,294	)	$	(1,080	)	$	(2,374	)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Income Taxes

12 Months Ended

Jun. 30, 2012

Income Taxes

Note 9. Income Taxes

Pre-tax loss consists of the following jurisdictions (in thousands):


	Year ended June 30,
	2012			2011
Domestic	$	(8,547	)	$	(6,346	)
Foreign		1,024			(1,452	)

		(7,523	)		(7,798	)
Elimination on consolidation		—			1,017

Pre-tax loss	$	(7,523	)	$	(6,781	)

The reconciliation of income tax computed at the U.S. federal statutory tax rates to income tax expense attributable to loss arising during development stage is as follows (in thousands):


	Year Ended June 30,
	2012						2011
	$			%			$			%
Tax benefit at U.S. statutory rates	$	2,557			34	%	$	2,305			34	%
State tax		474			6	%		368			5	%
Australian tax		41			1	%		(58	)		-1	%
R&D tax concession		—			—			108			2	%
Expiration of foreign tax losses		(28,202	)		-375	%		—			—
Change in valuation allowance		25,129			334	%		(2,724	)		-40	%

	$	(1	)		—		$	(1	)		—

Deferred tax liabilities and assets are comprised of the following (in thousands):


	Year ended June 30,
	2012			2011
Deferred tax liabilities:
Unrealized foreign exchange gain	$	—		$	(13	)
Prepaid expenses		—			(28	)
Change in accounting adjustments		(2,411	)		—

Total deferred tax liabilities		(2,411	)		(41	)
Deferred tax assets:
Tax carried forward losses		4,153			32,529
Share-based payments		458			908
Unrealized foreign exchange loss		—			193
Consultant and other accruals		27			26
Fixed and intangible assets		7,656			3,311
Derivative		—			183
Compensation accruals		161			104
Investment in subsidiary		—			26,422
Capital loss carryforward		26,382			—

Total deferred tax assets		38,837			63,676
Valuation allowance for deferred tax assets		(36,426	)		(63,635	)

Net deferred tax assets and liabilities	$	—		$	—

Management evaluates the recoverability of the deferred tax assets and the amount of the required valuation allowance. Due to the uncertainty surrounding the realization of the tax deductions in future tax returns, the Company has recorded a valuation allowance against its net deferred tax assets at June 30, 2012 and 2011. At such time as it is determined that it is more likely than not that the deferred tax assets will be realized, the valuation allowance would be reduced.

There was no benefit from income taxes recorded for the period from December 1, 2000 (inception) to June 30, 2012 due to the Company’s inability to recognize the benefit of net operating losses. The Company had federal and state net operating loss carry forwards of approximately $10,773,000 and $8,410,000 at June 30, 2012. The federal and state net operating losses will begin to expire in 2022 and 2031, respectively. Due to the dissolution of the Company’s foreign subsidiary, all foreign tax losses expired unutilized during the year ended June 30, 2012.

The Company’s ability to utilize its net operating loss carry-forwards may be substantially limited due to ownership changes that have occurred or that could occur in the future under Section 382 of the Internal Revenue Code and similar state and foreign laws. The Company has not completed a study to determine whether one or more ownership changes have occurred.

The Company did not previously record a deferred tax asset for any basis difference in its subsidiary because the Company intended to permanently reinvest any subsidiary earnings. However, in the year ended June 30, 2011, the Company determined that it might wind up its subsidiary. As such, the Company recorded a deferred tax asset for this difference. The Company realized this loss for tax purposes during the year ended June 30, 2012, which resulted in a capital loss carry-forward of $66,230,000. This capital loss will expire in 2017.

None of the Company's prior income tax returns has been selected for examination by a major taxing jurisdiction; however, the statutes of limitations for various filings remain open. The oldest filings subject to potential examination for federal, state, and foreign purposes are 2009, 2011, and 2008, respectively. The Company has not reduced any tax benefit on its financial statements due to uncertain tax positions at June 30, 2012 and it is not aware of any circumstance that would significantly change this result through the end of fiscal year 2013. To the extent the Company incurs income-tax related penalties or interest, the Company recognizes them as additional income tax expense.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

+ Details

Selected Quarterly Financial Information (Unaudited)

12 Months Ended

Jun. 30, 2012

Selected Quarterly Financial Information (Unaudited)

Note 10. Selected Quarterly Financial Information (Unaudited)

The following table presents the Company’s unaudited quarterly results of operations for the years ended June 30, 2012 and 2011 (in thousands, except per share data).


	Quarter Ended												Year Ended June 30, 2012
	June 30, 2012			March 31, 2012			December 31, 2011			September 30, 2011			Year Ended June 30, 2012
Net loss arising during development stage	$	(2,101	)	$	(2,269	)	$	(1,541	)	$	(1,612	)	$	(7,523	)
Basic and diluted loss per share	$	(0.11	)	$	(0.15	)	$	(0.13	)	$	(0.17	)	$	(0.56	)

	Quarter Ended												Year Ended June 30, 2011
	June 30, 2011			March 31, 2011			December 31, 2010			September 30, 2010			Year Ended June 30, 2011
Net loss arising during development stage	$	(1,642	)	$	(1,312	)	$	(2,068	)	$	(1,759	)	$	(6,781	)
Basic and diluted loss per share	$	(0.19	)	$	(0.18	)	$	(0.28	)	$	(0.24	)	$	(0.89	)

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Subsequent Events

12 Months Ended

Jun. 30, 2012

Subsequent Events

Note 11. Subsequent Events

On August 7, 2012, the Company entered into a definitive asset purchase agreement with S*BIO Pte Ltd, a privately held biotechnology company, pursuant to which MEI Pharma agreed to acquire certain assets comprised of intellectual property and technology including rights to Pracinostat, a histone deacetylases (HDAC) inhibitor in Phase II clinical trials for hematologic cancers, from S*BIO in exchange for $500,000 of common stock. The agreement also provides for potential success-based clinical, regulatory and sales milestone payments of up to $75.2 million, as well as contingent earn-out payments based on net sales. On August 22, 2012, the Company completed the asset purchase and issued 1,174,536 shares of common stock to S*BIO Pte Ltd.

The Company and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2012

Use of Estimates

Use of Estimates

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and highly liquid investments with remaining maturities of three months or less when purchased.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Concentration of Credit Risk

Concentration of Credit Risk

Property and Equipment

Property and Equipment

Derivative Liabilities

Derivative Liabilities

Research and Development Costs

Research and Development Costs

License Fees

License Fees

Share-based Compensation

Share-based Compensation

Interest and Dividend Income

Interest and Dividend Income

Interest on cash balances is recognized when earned. Dividend revenue is recognized when the right to receive the payment is established.

Income Taxes

Income Taxes

Foreign Currency Translation

Foreign Currency Translation

Net Loss Per Share

Net Loss Per Share

Net loss per share was determined as follows (in thousands, except per share amounts):


	Year ended June 30,
	2012			2011
Numerator
Net loss arising during the development stage	$	(7,523	)	$	(6,781	)

Denominator
Weighted average common shares outstanding		13,486,251			7,643,408

Basic and diluted net loss per share	$	(0.56	)	$	(0.89	)


	Year ended June 30,
	2012		2011
Weighted average anti-dilutive securities not included in diluted loss per share
Weighted average stock options outstanding		811,675		405,764
Weighted average warrants outstanding		3,198,630		585,402
Weighted average convertible preferred shares outstanding		4,827,000		687,682

Total weighted average anti-dilutive securities not included in diluted net loss per share		8,837,305		1,678,848

Recent Accounting Pronouncements

Recent Accounting Pronouncements

The Company and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2012

Net Loss Per Share

Net loss per share was determined as follows (in thousands, except per share amounts):


	Year ended June 30,
	2012			2011
Numerator
Net loss arising during the development stage	$	(7,523	)	$	(6,781	)

Denominator
Weighted average common shares outstanding		13,486,251			7,643,408

Basic and diluted net loss per share	$	(0.56	)	$	(0.89	)

Weighted Average Antidilutive Securities


	Year ended June 30,
	2012		2011
Weighted average anti-dilutive securities not included in diluted loss per share
Weighted average stock options outstanding		811,675		405,764
Weighted average warrants outstanding		3,198,630		585,402
Weighted average convertible preferred shares outstanding		4,827,000		687,682

Total weighted average anti-dilutive securities not included in diluted net loss per share		8,837,305		1,678,848

Fair Value Disclosures (Tables)

12 Months Ended

Jun. 30, 2012

Valuation Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis


	Fair value measurements at June 30, 2011
	Balance at June 30, 2011			Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds	$	1,066		$	1,066	$	—	$	—
Liabilities:
Warrants and other derivative instruments	$	(1,125	)	$	—	$	—	$	(1,125	)

- Definition

Tabular disclosure related to assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition. Disclosures include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3) as well as transfers between levels 1 and 2.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a,b,bb)
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=7578670&loc=SL7498348-110258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 33
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 6
-Footnote 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Composition of Certain Balance Sheet Items (Tables)

12 Months Ended

Jun. 30, 2012

Accrued Expenses

Accrued expenses consisted of the following, in thousands:


	June 30,
	2012		2011
Accrued pre-clinical and clinical trial expenses	$	485	$	170
Accrued compensation and benefits		426		270
Accrued legal and professional services expenses		187		386
Other		82		95

	$	1,180	$	921

Stockholders' Equity (Tables)

12 Months Ended

Jun. 30, 2012

Fair Value Calculation Assumptions

The derivative liabilities were valued at the closing date of the May 2011 private placement and at June 30, 2011 using a Monte Carlo valuation model with the following assumptions:


	May 18, 2011		June 30, 2011
Closing price per share of common stock	$	1.35	$	1.02
Expected volatility		121.5% - 122.1%		112.9% - 121.2%
Risk-free interest rate		.19% - 1.87%		.19% - 1.76%
Dividend yield		—		—
Expected lives of underlying securities		12-66 months		12-66 months

Share-based Compensation (Tables)

12 Months Ended

Jun. 30, 2012

Summary of Company's Stock Option Activity and Related Data

A summary of the Company’s stock option activity and related data follows:


	Outstanding Options
	Number of Shares		Weighted- Average Exercise Price
Balance at June 30, 2010		298,853	$	3.03
Granted		297,352		1.12
Forfeited/Expired		—		—

Balance at June 30, 2011		596,205		2.08
Granted		267,355		1.63
Forfeited/Expired		—		—

Balance at June 30, 2012		863,560	$	1.94

Fair Value of Stock Options Assumptions Used

The Company uses a binomial valuation model to estimate the grant date fair value of stock options. To calculate these fair values, the following assumptions were used:


	Year ended June 30,
	2012		2011
Risk-free interest rate		.62% - 1.32%		1.17% - 1.60%
Expected life		5 years		5 years
Expected volatility		145% - 152%		136% - 144%
Dividend yield		0%		0%
Weighted-average grant date fair value	$	1.43	$	0.98

Exercise Prices and Weighted-average Remaining Contractual Lives for Options Outstanding

Exercise prices and weighted-average remaining contractual lives for the options outstanding as of June 30, 2012 were:


Options Outstanding	Exercise Price	Weighted Average Remaining Contractual Life (Years)	Options Exercisable		Weighted Average Exercise Price of Options Exercisable
1,000	$0.61	4.9		—	$	—
82,232	$0.77	3.2		35,975	$	0.77
37,500	$1.15	3.3		14,842	$	1.15
177,620	$1.28	3.9		44,405	$	1.28
125,845	$1.34	4.3		—	$	—
73,463	$1.52	3.0		36,726	$	1.52
2,000	$1.53	4.2		—	$	—
110,195	$1.86	2.8		59,693	$	1.86
138,510	$1.90	4.1		—	$	—
110,195	$5.05	2.8		59,693	$	5.05
5,000	$6.30	1.6		5,000	$	6.30

863,560		3.5		256,334	$	2.35

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References + Details

Segment Information (Tables)

12 Months Ended

Jun. 30, 2012

Segment Information Net of Intercompany Transactions

The following segment information is net of intercompany transactions.


	Year Ended June 30,
	2012								2011
	USA			Australia		Total			USA			Australia			Total
	(in thousands)								(in thousands)
Statement of Operations:
Income (loss) from operations	$	(8,473	)	$	79	$	(8,394	)	$	(5,016	)	$	(1,435	)	$	(6,451	)
Other income (expense)		871			—		871			(329	)		(1	)		(330	)

Net loss arising during development stage	$	(7,602	)	$	79	$	(7,523	)	$	(5,345	)	$	(1,436	)	$	(6,781	)

Balance Sheet:
Segment assets	$	6,373		$	—	$	6,373		$	4,112		$	56		$	4,168
Segment liabilities	$	(1,774	)	$	—	$	(1,774	)	$	(1,294	)	$	(1,080	)	$	(2,374	)

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2012

Pre-Tax Loss Information

Pre-tax loss consists of the following jurisdictions (in thousands):


	Year ended June 30,
	2012			2011
Domestic	$	(8,547	)	$	(6,346	)
Foreign		1,024			(1,452	)

		(7,523	)		(7,798	)
Elimination on consolidation		—			1,017

Pre-tax loss	$	(7,523	)	$	(6,781	)

Recociliation of Income Taxes Computed at U.S Federal Statutory Tax Rates to Income Tax Expense Attributable to Loss Arising During Development Stage

The reconciliation of income tax computed at the U.S. federal statutory tax rates to income tax expense attributable to loss arising during development stage is as follows (in thousands):


	Year Ended June 30,
	2012						2011
	$			%			$			%
Tax benefit at U.S. statutory rates	$	2,557			34	%	$	2,305			34	%
State tax		474			6	%		368			5	%
Australian tax		41			1	%		(58	)		-1	%
R&D tax concession		—			—			108			2	%
Expiration of foreign tax losses		(28,202	)		-375	%		—			—
Change in valuation allowance		25,129			334	%		(2,724	)		-40	%

	$	(1	)		—		$	(1	)		—

Deferred Tax Liabilities and Assets

Deferred tax liabilities and assets are comprised of the following (in thousands):


	Year ended June 30,
	2012			2011
Deferred tax liabilities:
Unrealized foreign exchange gain	$	—		$	(13	)
Prepaid expenses		—			(28	)
Change in accounting adjustments		(2,411	)		—

Total deferred tax liabilities		(2,411	)		(41	)
Deferred tax assets:
Tax carried forward losses		4,153			32,529
Share-based payments		458			908
Unrealized foreign exchange loss		—			193
Consultant and other accruals		27			26
Fixed and intangible assets		7,656			3,311
Derivative		—			183
Compensation accruals		161			104
Investment in subsidiary		—			26,422
Capital loss carryforward		26,382			—

Total deferred tax assets		38,837			63,676
Valuation allowance for deferred tax assets		(36,426	)		(63,635	)

Net deferred tax assets and liabilities	$	—		$	—

Selected Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Jun. 30, 2012

Unaudited Quarterly Results of Operations

The following table presents the Company’s unaudited quarterly results of operations for the years ended June 30, 2012 and 2011 (in thousands, except per share data).


	Quarter Ended												Year Ended June 30, 2012
	June 30, 2012			March 31, 2012			December 31, 2011			September 30, 2011			Year Ended June 30, 2012
Net loss arising during development stage	$	(2,101	)	$	(2,269	)	$	(1,541	)	$	(1,612	)	$	(7,523	)
Basic and diluted loss per share	$	(0.11	)	$	(0.15	)	$	(0.13	)	$	(0.17	)	$	(0.56	)

	Quarter Ended												Year Ended June 30, 2011
	June 30, 2011			March 31, 2011			December 31, 2010			September 30, 2010			Year Ended June 30, 2011
Net loss arising during development stage	$	(1,642	)	$	(1,312	)	$	(2,068	)	$	(1,759	)	$	(6,781	)
Basic and diluted loss per share	$	(0.19	)	$	(0.18	)	$	(0.28	)	$	(0.24	)	$	(0.89	)

Company and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	1 Months Ended		12 Months Ended		139 Months Ended
	May 31, 2002	Dec. 31, 2000	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2010
Targeted or Tracking Stock, Stock [Line Items]
Incorporation date		2000-12
Operations commencement date	2002-05
Ownership percentage of shares outstanding			63.00%		63.00%
Cash and cash equivalents			$ 6,202,000	$ 3,858,000	$ 6,202,000	$ 9,031,000
Deficit accumulated during the development stage			$ (85,111,000)	(77,588,000)	(85,111,000)
Highly liquid investments, maturity period			3 months
Share-based Compensation Expense			$ 511,000	484,000	2,791,000
Percentage of likelihood of income tax being sustained			50.00%
Unrecognized tax benefits			$ 0	$ 0	$ 0
Maximum
Targeted or Tracking Stock, Stock [Line Items]
Property and equipment, estimated useful life			7 years
Minimum
Targeted or Tracking Stock, Stock [Line Items]
Property and equipment, estimated useful life			3 years

Component of Net Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended		139 Months Ended
	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
Numerator
Net loss arising during the development stage	$ (2,101)	$ (2,269)	$ (1,541)	$ (1,612)	$ (1,642)	$ (1,312)	$ (2,068)	$ (1,759)	$ (7,523)	$ (6,781)	$ (85,111)
Denominator
Weighted average common shares outstanding									13,486,251	7,643,408
Basic and diluted net loss per share	$ (0.11)	$ (0.15)	$ (0.13)	$ (0.17)	$ (0.19)	$ (0.18)	$ (0.28)	$ (0.24)	$ (0.56)	$ (0.89)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569616-111683

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591552-111686

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a),(c)
-URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591551-111686

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A1, A4, A5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Weighted Average Antidilutive Securities (Detail) - shares	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Weighted average anti-dilutive securities not included in diluted loss per share
Total weighted average anti-dilutive securities not included in diluted net loss per share	8,837,305	1,678,848
Stock Option
Weighted average anti-dilutive securities not included in diluted loss per share
Total weighted average anti-dilutive securities not included in diluted net loss per share	811,675	405,764
Series A and B warrants
Weighted average anti-dilutive securities not included in diluted loss per share
Total weighted average anti-dilutive securities not included in diluted net loss per share	3,198,630	585,402
Convertible Preferred Stock
Weighted average anti-dilutive securities not included in diluted loss per share
Total weighted average anti-dilutive securities not included in diluted net loss per share	4,827,000	687,682

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Valuation Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) $ in Thousands	Jun. 30, 2011 USD ($)
Warrants And Other Derivative Instruments
Liabilities:
Liabilities, fair value disclosure	$ (1,125)
Money Market Funds
Assets:
Assets, fair value disclosure	1,066
Quoted Prices in Active Markets (Level 1) \| Money Market Funds
Assets:
Assets, fair value disclosure	1,066
Significant Unobservable Inputs (Level 3) \| Warrants And Other Derivative Instruments
Liabilities:
Liabilities, fair value disclosure	$ (1,125)

Payable and Accruals (Detail) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011
Debt Outstanding [Line Items]
Accrued pre-clinical and clinical trial expenses	$ 485	$ 170
Accrued compensation and benefits	426	270
Accrued legal and professional services expenses	187	386
Other	82	95
Accrued liabilities	$ 1,180	$ 921

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

Related Party Transactions - Additional Information (Detail)	1 Months Ended										2 Months Ended	12 Months Ended		48 Months Ended		139 Months Ended
	May 31, 2012 $ / Right shares	May 11, 2012 USD ($) $ / Right shares	Mar. 31, 2012 shares	Dec. 31, 2011 USD ($)	Dec. 28, 2011 USD ($) $ / shares shares	Sep. 27, 2011 USD ($) $ / shares shares	Aug. 31, 2009 USD ($)	Jul. 31, 2006 shares	Dec. 31, 2003 shares	May 31, 2002 USD ($) shares	Aug. 31, 2011 shares	Jun. 30, 2012 USD ($) shares	Jun. 30, 2011 USD ($) shares	Jun. 30, 2009 USD ($)	Jun. 30, 2007 USD ($)	Jun. 30, 2012 USD ($) shares	Dec. 31, 2010 shares	Dec. 18, 2006 $ / Right	Nov. 30, 2003 $ / Right
Related Party Transaction [Line Items]
Number of shares of common stock in each unit \| shares			0.5					1
Number of warrants in each unit \| shares			1					0.35
Number of shares each warrant to purchase of common stock \| shares			0.25
Common stock issued \| shares		5,830,202							239,200	252,300	1,294,000
Warrants issued \| shares		2,915,152
Warrant exercisable period		5 years
Exercise price per share \| $ / Right		1.19																90.00	40.00
Issuance of Common Stock \| shares												20,498,946	8,881,089			20,498,946
Proceeds from Issuance of Common Stock		$ 4,800,000								$ 9,000,000		$ 9,831,000	$ 711,000			$ 86,934,000
License agreement expenses																21,500,000
Payment of net sales to related party during license agreement, percentage												2.50%
Payment of commercialization income to related party during license agreement, percentage												25.00%
Payment of net sales to related party on expiration of license agreement, percentage												1.50%
License fee payments												$ 8,000,000
License agreement for Triphendiol and NV-143
Related Party Transaction [Line Items]
License agreement expenses														$ 4,000,000
Payment of net sales to related party during license agreement, percentage												5.00%
Payment of commercialization income to related party during license agreement, percentage												25.00%
License fee payments				$ 3,000,000
Due to related parties future settlements, earlier of date of first receipt or in two and half years				$ 8,000,000
Payment of net sales to related party during license agreement, percentage												50.00%
Minimum royalties expense												$ 3,000,000
License Agreement For NV-128
Related Party Transaction [Line Items]
License agreement expenses							$ 1,500,000
Payment of commercialization income to related party during license agreement, percentage												25.00%
License fee payments												$ 1,000,000
Minimum royalties expense												3,000,000
Due to related parties future settlements, earlier of enrollment or in one and half years												2,000,000				2,000,000
Due to related parties future settlements, earlier of enrollment or in three and half years												3,000,000				3,000,000
Due to related parties future settlements, earlier of enrollment or in six and half years												$ 8,000,000				$ 8,000,000
Payment of royalty of all net sales to related party during license agreement, percentage												5.00%
Amended And Restated Services Agreement
Related Party Transaction [Line Items]
Service cost mark-up, percentage												10.00%
Transaction expenditure													1,027,000
Service fees paid													708,000
Costs incurred for administration and accounting services													$ 319,000
Novogen
Related Party Transaction [Line Items]
Number of subscription right unit issued \| shares	8,988,675
Common stock issued \| shares	4,494,337
Warrants issued \| shares	2,247,169
Warrant exercisable period	5 years
Exercise price per share \| $ / Right	1.19
License agreement expenses															$ 16,000,000
Series A Preferred Stock
Related Party Transaction [Line Items]
Preferred shares issued \| shares												1,000	1,000			1,000	1,000
Securities Subscription Agreement With Novogen
Related Party Transaction [Line Items]
Common stock issued \| shares					1,941,747	1,333,333
Issuance of Common Stock \| shares					1,941,747	1,333,333
Purchase Price \| $ / shares					$ 1.03	$ 1.50
Proceeds from Issuance of Common Stock					$ 2,000,000	$ 2,000,000

Stockholders' Equity - Additional Information (Detail)	1 Months Ended																	2 Months Ended		12 Months Ended									139 Months Ended
Stockholders' Equity - Additional Information (Detail)	May 11, 2012 USD ($) $ / shares $ / Right shares	Mar. 31, 2012 shares	Dec. 29, 2011 shares	Dec. 28, 2011 USD ($) $ / shares shares	Sep. 28, 2011 USD ($) $ / shares shares	Sep. 27, 2011 USD ($) $ / shares shares	May 31, 2011 USD ($) $ / shares shares	Apr. 30, 2011 USD ($)	Mar. 31, 2011 USD ($) $ / shares shares	Feb. 28, 2011 USD ($)	Jul. 31, 2008 USD ($) $ / shares $ / Right shares	Aug. 31, 2007 USD ($) shares $ / shares $ / Right	Jul. 31, 2006 USD ($) $ / shares shares	Dec. 31, 2003 USD ($) $ / shares shares	Nov. 30, 2003 USD ($) $ / Right shares	Jun. 30, 2003 USD ($) shares	May 31, 2002 USD ($) shares	Aug. 31, 2011 USD ($) shares	Mar. 31, 2011 USD ($) shares	Jun. 30, 2012 USD ($) $ / shares $ / Right shares	Jun. 30, 2011 USD ($) $ / shares shares	Mar. 31, 2011 USD ($)	Jun. 30, 2009 USD ($)	Jun. 30, 2008 USD ($)	Jun. 30, 2007 USD ($)	Jun. 30, 2004 USD ($)	Jun. 30, 2003 USD ($)	Jun. 30, 2002 USD ($)	Jun. 30, 2012 USD ($) $ / shares $ / Right shares	Dec. 18, 2006 $ / Right
Class of Stock [Line Items]
Common stock issued	5,830,202													239,200			252,300	1,294,000
Warrants issued	2,915,152
Proceeds from Issuance of Common Stock \| $	$ 4,800,000																$ 9,000,000			$ 9,831,000	$ 711,000								$ 86,934,000
Exercise price \| $ / Right	1.19														40.00															90.00
Warrants exercised															251,400	900		1,294,000
Proceeds from exercise of warrants \| $															$ 10,100,000	$ 36,000		$ 1,094,000
Public offering price \| $ / shares														$ 75.00
Net proceeds from issuance of common stock and warrants \| $									$ 665,000					$ 15,500,000
Warrants expired without exercise														239,200
Proceed from issuance of private placement \| $													$ 16,800,000
Warrants exercisable																		970,500
Purchase price per unit under private placement \| $ / shares													$ 29.00
Number of shares of common stock in each unit		0.5											1
Number of warrants in each unit		1											0.35
Exercise price of warrants expired without exercise \| $ / shares													$ 43.50
Purchase price common stock \| $ / shares	$ 0.89
Stock Issued during period, value, new issues \| $																				$ 9,831,000	45,000		$ 9,768,000	$ 14,727,000	$ 16,820,000	$ 25,578,000	$ 36,000	$ 9,022,000
Net proceeds from issuance of preferred stock \| $																					665,000								$ 665,000
Public float maximum value \| $								$ 75,000,000
Investment warrants, exercisable period	5 years
Warrants outstanding																				248,003									248,003
Cash payments to investors in aggregate amount \| $					$ 365,000
Payment for financing Costs \| $					$ 41,000															$ 406,000									$ 406,000
Derivative liabilities \| $							$ 1,174,000														1,125,000
Excess of fair value of derivative liabilities over proceeds of private placement \| $							666,000
Liabilities in excess of the proceeds \| $							$ 508,000
Gain on adjustment to fair value of derivative liabilities \| $																				$ 1,139,000	$ 49,000								$ 1,188,000
Discount to the volume-weighted average price	10.00%
Premium to the volume-weighted average price	20.00%
Total authorized share capital																				113,100,000									113,100,000
Common stock, shares authorized																				113,000,000	113,000,000								113,000,000
Common stock, par value \| $ / shares																				$ 0.00000002	$ 0.00000002								$ 0.00000002
Preferred stock, shares authorized																				100,000	100,000								100,000
Preferred stock, par value per share \| $ / shares																				$ 0.01	$ 0.01								$ 0.01
Rights Offering
Class of Stock [Line Items]
Exercise price \| $ / Right																				1.19									1.19
Warrants outstanding																				2,915,152									2,915,152
Securities Subscription Agreement With Novogen
Class of Stock [Line Items]
Common stock issued				1,941,747		1,333,333
Proceeds from Issuance of Common Stock \| $				$ 2,000,000		$ 2,000,000
Purchase price common stock \| $ / shares				$ 1.03		$ 1.50
Series B Preferred Stock
Class of Stock [Line Items]
Dividend receivable, percentage																						10.00%
Convertible Preferred Stock
Class of Stock [Line Items]
Aggregate exercise price \| $																				$ 12,000,000
Series A warrants
Class of Stock [Line Items]
Exercise price \| $ / Right																				1.00									1.00
Warrants exercisable					653,651
Investment warrants exercise price \| $ / shares					$ 1.00		$ 1.57
Investment warrants, exercisable period							6 months
Amount equivalent of the number of shares of common stock issued on exercise of series B warrants							75.00%
Expiration period of warrants							5 years
Warrants outstanding																				2,460,617									2,460,617
Gain on adjustment to fair value of derivative liabilities \| $																				$ 14,000
Series A Preferred Stock
Class of Stock [Line Items]
Company designated and issued shares to Isoflavone																				1,000
Series B warrants
Class of Stock [Line Items]
Common stock issued					305,603
Warrants outstanding					0
Other income on adjustment to fair value of derivative liabilities \| $																				$ 1,125,000
Accredited Investors
Class of Stock [Line Items]
Common stock issued												546,400
Exercise price \| $ / Right												36.00
Proceed from issuance of private placement \| $												$ 15,200,000
Purchase price common stock \| $ / shares												$ 30.00
Accredited Investors \| Securities Subscription Agreement With Novogen
Class of Stock [Line Items]
Common stock issued											170,000
Exercise price \| $ / Right											21.70
Proceed from issuance of private placement \| $											$ 9,800,000
Shares issued to related party											290,829
Placement Agent
Class of Stock [Line Items]
Warrants issued												6,209
Basis of exercise of warrants												4
Investment warrants exercise price \| $ / shares												$ 30.00
Fair value of warrants \| $												$ 441,000
First Anniversary \| Series B Preferred Stock
Class of Stock [Line Items]
Redemption price percentage																						135.00%
Redemption principal amount \| $									1,000										$ 1,000			$ 1,000
Redeemed on or after the first anniversary but prior to the second anniversary of the Series B Initial Issuance Date \| Series B Preferred Stock
Class of Stock [Line Items]
Redemption price percentage																						126.00%
Redeemed on or after the second anniversary but prior to the third anniversary of the Series B Initial Issuance Date \| Series B Preferred Stock
Class of Stock [Line Items]
Redemption price percentage																						117.00%
Redeemed on or after the third anniversary but prior to the fourth anniversary of the Series B Initial Issuance Date \| Series B Preferred Stock
Class of Stock [Line Items]
Redemption price percentage																						108.00%
Upon or after the fourth anniversary of the Series B Initial Issuance Date \| Series B Preferred Stock
Class of Stock [Line Items]
Redemption principal amount \| $									1,000										1,000			$ 1,000
Maximum
Class of Stock [Line Items]
Exercise price \| $ / Right																				36.00									36.00
Sale of shares and warrants under agreement \| $								$ 50,000,000
Minimum
Class of Stock [Line Items]
Exercise price \| $ / Right																				21.70									21.70
Upon the Company's liquidation, dissolution or winding up \| Series B Preferred Stock
Class of Stock [Line Items]
Redemption principal amount \| $									$ 1,000										1,000			1,000
Conversion Condition 1 \| Series A Preferred Stock
Class of Stock [Line Items]
Each share of Convertible Preferred Stock issued, converted into common stock																				4,827
Conversion Condition 2 \| Series A Preferred Stock
Class of Stock [Line Items]
Each share of Convertible Preferred Stock issued, converted into common stock																				9,654
Stock Purchase Agreement
Class of Stock [Line Items]
Common stock issued									644,347
Proceeds from Issuance of Common Stock \| $									$ 1,001,700
Receivable secured full-recourse promissory notes \| $									$ 1,001,700										$ 1,001,700			$ 1,001,700
Bearing interest rate for promissory notes									2.00%										2.00%			2.00%
Stock Purchase Agreement \| Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock purchase price \| $ / shares									$ 1,000
Preferred stock shares issued									742
Net proceeds from issuance of preferred stock \| $									$ 742,000
Equity Distribution Agreement
Class of Stock [Line Items]
Exercise price of warrants expired without exercise \| $ / shares													$ 43.50
Commitment fee paid in shares													12,363
Commitment fee paid in warrants													60,000
At Market Issuance Sales Agreement
Class of Stock [Line Items]
Common stock issued																			55,201
Proceeds from Issuance of Common Stock \| $																			$ 45,000
Stock Issued during period, value, new issues \| $																			$ 131,000
At Market Issuance Sales Agreement \| Maximum
Class of Stock [Line Items]
Sales of common stock offer price \| $										$ 1,815,000
Amended Purchase Agreement
Class of Stock [Line Items]
Common stock issued			667,272				835,217
Purchase price common stock \| $ / shares							$ 1.333
Amended Purchase Agreement \| Series A warrants
Class of Stock [Line Items]
Warrants exercisable							626,413
Amended Purchase Agreement \| Series B warrants
Class of Stock [Line Items]
Warrants exercisable							2,165,534
Amended Purchase Agreement \| Placement Agent
Class of Stock [Line Items]
Warrants issued							210,053
Amended Purchase Agreement \| Maximum
Class of Stock [Line Items]
Price of common stock \| $ / shares							$ 1.333
Limit of issuable shares							2,332,583
Amended Purchase Agreement \| Maximum \| Series A warrants
Class of Stock [Line Items]
Warrants exercisable							2,250,564
Amended Purchase Agreement \| Minimum
Class of Stock [Line Items]
Price of common stock \| $ / shares							$ 0.75
Limit of issuable shares							649,242
Initial Public Offering
Class of Stock [Line Items]
Warrants issued																	252,300
Private Placement
Class of Stock [Line Items]
Common stock issued													632,931
Warrants exercisable											4,608		221,525
Investment warrants exercise price \| $ / shares											$ 21.70
Private Placement \| Amended Purchase Agreement
Class of Stock [Line Items]
Common stock issued			245,700

Fair Value Calculation Assumptions (Detail) - $ / shares	1 Months Ended
	Jun. 30, 2011	May 18, 2011
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Closing price per share of common stock	$ 1.02	$ 1.35
Dividend yield
Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Expected volatility	112.90%	121.50%
Risk-free interest rate	0.19%	0.19%
Expected lives of underlying securities	12 months	12 months
Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Expected volatility	121.20%	122.10%
Risk-free interest rate	1.76%	1.87%
Expected lives of underlying securities	66 months	66 months

Share-based Compensation - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2010	Jun. 30, 2011	Dec. 31, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding	863,560	298,853	596,205
Unrecognized compensation expense related to non-vested stock options	$ 373,000
Expected weighted-average period for recognition of compensation expense	2 years 4 months 21 days
Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options to purchase shares of common stock		398,010
Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized				2,500,000
Options outstanding	863,560
Shares available for future grant	2,034,450
Options vested and exercisable	256,334
Weighted-average exercise price of options exercisable	$ 2.35
Share based compensation remaining contractual term	3 years 1 month 6 days
Closing price of common stock	$ 0.42
Share-based compensation arrangement by share-based payment award, options, exercises in period, total intrinsic value	$ 0

Summary of Company's Stock Option Activity and Related Data (Detail) - $ / shares	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Number of Shares
Beginning Balance	596,205	298,853
Granted	267,355	297,352
Forfeited/Expired
Ending balance	863,560	596,205
Weighted- Average Exercise Price
Beginning Balance	$ 2.08	$ 3.03
Granted	1.63	1.12
Forfeited/Expired
Ending balance	$ 1.94	$ 2.08

Fair Value of Stock Options Assumptions Used (Detail) - $ / shares	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Share based Compensation Arrangement Assumptions Used to Estimate Fair Values of Share Options Granted [Line Items]
Risk-free interest rate minimum	0.62%	1.17%
Risk-free interest rate maximum	1.32%	1.60%
Expected life	5 years	5 years
Expected volatility minimum	145.00%	136.00%
Expected volatility maximum	152.00%	144.00%
Dividend yield	0.00%	0.00%
Weighted-average grant date fair value	$ 1.43	$ 0.98

Exercise Prices and Weighted-average Remaining Contractual Lives for Options Outstanding (Detail)	12 Months Ended
	Jun. 30, 2012 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	863,560
Weighted Average Remaining Contractual Life (Years)	3 years 6 months
Options Exercisable	256,334
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 2.35
Range One
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	1,000
Exercise Price \| $ / shares	$ 0.61
Weighted Average Remaining Contractual Life (Years)	4 years 10 months 24 days
Range Two
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	82,232
Exercise Price \| $ / shares	$ 0.77
Weighted Average Remaining Contractual Life (Years)	3 years 2 months 12 days
Options Exercisable	35,975
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 0.77
Range Three
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	37,500
Exercise Price \| $ / shares	$ 1.15
Weighted Average Remaining Contractual Life (Years)	3 years 3 months 18 days
Options Exercisable	14,842
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 1.15
Range Four
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	177,620
Exercise Price \| $ / shares	$ 1.28
Weighted Average Remaining Contractual Life (Years)	3 years 10 months 24 days
Options Exercisable	44,405
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 1.28
Range Five
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	125,845
Exercise Price \| $ / shares	$ 1.34
Weighted Average Remaining Contractual Life (Years)	4 years 3 months 18 days
Range Six
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	73,463
Exercise Price \| $ / shares	$ 1.52
Weighted Average Remaining Contractual Life (Years)	3 years
Options Exercisable	36,726
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 1.52
Range Seven
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	2,000
Exercise Price \| $ / shares	$ 1.53
Weighted Average Remaining Contractual Life (Years)	4 years 2 months 12 days
Range Eight
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	110,195
Exercise Price \| $ / shares	$ 1.86
Weighted Average Remaining Contractual Life (Years)	2 years 9 months 18 days
Options Exercisable	59,693
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 1.86
Range Nine
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	138,510
Exercise Price \| $ / shares	$ 1.90
Weighted Average Remaining Contractual Life (Years)	4 years 1 month 6 days
Range Ten
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	110,195
Exercise Price \| $ / shares	$ 5.05
Weighted Average Remaining Contractual Life (Years)	2 years 9 months 18 days
Options Exercisable	59,693
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 5.05
Range 11
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	5,000
Exercise Price \| $ / shares	$ 6.30
Weighted Average Remaining Contractual Life (Years)	1 year 7 months 6 days
Options Exercisable	5,000
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 6.30

Commitment - Additional Information (Detail)	1 Months Ended	12 Months Ended
Commitment - Additional Information (Detail)	Jul. 31, 2010 USD ($) sqft	Jun. 30, 2012 USD ($)
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Lease arrangement rent area, square feet \| sqft	3,700
Lease arrangement period	33 months
Rent expense		$ 118,000
Lease payments due in June 30, 2013		$ 107,000
Minimum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Lease rental rate	$ 10,109
Maximum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Lease rental rate	$ 10,734

Segment Information - Additional Information (Detail)	12 Months Ended
Segment Information - Additional Information (Detail)	Jun. 30, 2012 Segment
Segment Reporting Information [Line Items]
Number of operating segments	1
Number of geographic segments	2

Geographic Segment Inter Company Transactions (Detail) - USD ($) $ in Thousands	12 Months Ended											139 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2009	Jun. 30, 2008	Jun. 30, 2007	Jun. 30, 2006	Jun. 30, 2005	Jun. 30, 2004	Jun. 30, 2003	Jun. 30, 2002	Jun. 30, 2012
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) from operations	$ (8,394)	$ (6,451)										$ (88,374)
Other income (expense)	871	(330)
Net loss arising during development stage	(7,523)	(6,781)	$ (7,896)	$ (11,180)	$ (12,410)	$ (13,820)	$ (7,386)	$ (6,421)	$ (8,538)	$ (3,033)	$ (123)
Segment assets	6,373	4,168										6,373
Segment liabilities	(1,774)	(2,374)										(1,774)
USA
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) from operations	(8,473)	(5,016)
Other income (expense)	871	(329)
Net loss arising during development stage	(7,602)	(5,345)
Segment assets	6,373	4,112										6,373
Segment liabilities	(1,774)	(1,294)										$ (1,774)
Australia
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) from operations	79	(1,435)
Other income (expense)		(1)
Net loss arising during development stage	$ 79	(1,436)
Segment assets		56
Segment liabilities		$ (1,080)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

Pre-Tax Loss Jurisdictions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Reconciliation of Statutory Federal Tax Rate [Line Items]
Domestic	$ (8,547)	$ (6,346)
Foreign	1,024	(1,452)
Income (Loss)From Continuing Operations Before Income Taxes Domestic And Foreign, Total	(7,523)	(7,798)
Elimination on consolidation		1,017
Pre-tax loss	$ (7,523)	$ (6,781)

Reconciliation of Income Taxes Computed at U.S Federal Statutory Tax rates to Income Tax Expense Attributable to Loss Arising During Development Stage (Detail) - USD ($) $ in Thousands	12 Months Ended		139 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
Reconciliation of Statutory Federal Tax Rate [Line Items]
Tax benefit at U.S. statutory rates	$ 2,557	$ 2,305
State tax	474	368
Australian tax	41	(58)
R&D tax concession		108
Expiration of foreign tax losses	(28,202)
Change in valuation allowance	25,129	(2,724)
Income tax expense	$ (1)	$ (1)	$ (10)
Tax benefit at U.S. statutory rates	34.00%	34.00%
State tax	6.00%	5.00%
Australian tax	1.00%	(1.00%)
R&D tax concession		2.00%
Expiration of foreign tax losses	(375.00%)
Change in valuation allowance	334.00%	(40.00%)
Effective Income Tax Rate, Continuing Operations, Total

Comprised Deferred Tax Liabilities and Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011
Deferred tax liabilities:
Unrealized foreign exchange gain		$ (13)
Prepaid expenses		(28)
Change in accounting adjustments	$ (2,411)
Total deferred tax liabilities	(2,411)	(41)
Deferred tax assets:
Tax carried forward losses	4,153	32,529
Share-based payments	458	908
Unrealized foreign exchange loss		193
Consultant and other accruals	27	26
Fixed and intangible assets	7,656	3,311
Derivative		183
Compensation accruals	161	104
Investment in subsidiary		26,422
Capital loss carryforward	26,382
Total deferred tax assets	38,837	63,676
Valuation allowance for deferred tax assets	(36,426)	(63,635)
Net deferred tax assets and liabilities

Income Taxes - Additional Information (Detail)	12 Months Ended
Income Taxes - Additional Information (Detail)	Jun. 30, 2012 USD ($)
Income Taxes [Line Items]
Federal net operating loss carry forwards	$ 10,773,000
State net operating loss carry forwards	8,410,000
Capital Loss Carry Forward	$ 66,230,000
Capital Loss Expiration Year	2017
Federal
Income Taxes [Line Items]
Expiration year of operating loss carry forwards	2022
State
Income Taxes [Line Items]
Expiration year of operating loss carry forwards	2031

- Definition

Amount before allocation of valuation allowances of deferred tax asset attributable to deductible state and local operating loss carryforwards.

+ References + Details

Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended		139 Months Ended
	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
Quarterly Financial Information [Line Items]
Net loss arising during development stage	$ (2,101)	$ (2,269)	$ (1,541)	$ (1,612)	$ (1,642)	$ (1,312)	$ (2,068)	$ (1,759)	$ (7,523)	$ (6,781)	$ (85,111)
Basic and diluted loss per share	$ (0.11)	$ (0.15)	$ (0.13)	$ (0.17)	$ (0.19)	$ (0.18)	$ (0.28)	$ (0.24)	$ (0.56)	$ (0.89)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

Subsequent Events - Additional Information (Detail) - Subsequent Event - USD ($)	1 Months Ended
	Aug. 22, 2012	Aug. 07, 2012
Subsequent Event [Line Items]
Issuance of common stock to acquire intellectual property and technology rights		$ 500,000
Issuance of common stock to purchase asset, shares	1,174,536
Maximum
Subsequent Event [Line Items]
Potential success-based clinical, regulatory and sales milestone payments		$ 75,200,000

Label	Element	Value
Common Stock [Member]
Stock Issued During Period Shares New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	4,950,000
Shares Outstanding	us-gaap_SharesOutstanding	4,950,000