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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jun. 30, 2013	Sep. 13, 2013	Dec. 31, 2012
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2013
Document Fiscal Year Focus	2013
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		17,116,662
Entity Public Float			$ 52,700,000

Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2013	Jun. 30, 2012
Current assets:
Cash and cash equivalents	$ 35,573	$ 6,202
Prepaid expenses and other current assets	456	146
Total current assets	36,029	6,348
Intangible assets, net	470
Property and equipment, net	48	25
Total assets	36,547	6,373
Current liabilities:
Accounts payable	537	594
Accrued liabilities	1,138	1,180
Total current liabilities	1,675	1,774
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock
Common stock, $0.00000002 par value; 113,000,000 shares authorized; 17,116,571 shares and 3,416,491 shares issued and outstanding at June 30, 2013 and 2012, respectively
Additional paid-in-capital	131,169	89,710
Deficit accumulated during the development stage	(96,297)	(85,111)
Total stockholders' equity	34,872	4,599
Total liabilities and stockholders' equity	36,547	6,373
Series A Preferred Stock
Stockholders' equity:
Preferred stock
Series B Preferred Stock
Stockholders' equity:
Preferred stock

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2013	Jun. 30, 2012
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	17,116,571	3,416,491
Common stock, shares outstanding	17,116,571	3,416,491
Series A Preferred Stock
Preferred stock, shares issued	1,000	1,000
Preferred stock, shares outstanding	0	1,000
Series B Preferred Stock
Preferred stock, shares issued	742	742
Preferred stock, shares outstanding	0	0

Statements of Operations - USD ($) $ in Thousands	12 Months Ended		151 Months Ended
Statements of Operations - USD ($) $ in Thousands	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013
Operating expenses:
Research and development	$ (6,084)	$ (4,915)	$ (50,188)
License fees			(21,500)
General and administrative	(5,138)	(3,479)	(27,908)
Total operating expenses	(11,222)	(8,394)	(99,596)
Loss from operations	(11,222)	(8,394)	(99,596)
Other income (expense):
Interest and dividend income	37	39	2,936
Fair value of derivative liabilities in excess of proceeds			(508)
Adjustments to fair value of derivatives		1,139	1,188
Financing costs		(406)	(406)
Gain on sale of investment		100	100
Income tax expense	(1)	(1)	(11)
Net loss arising during development stage	$ (11,186)	$ (7,523)	$ (96,297)
Net loss per share, basic and diluted	$ (1.10)	$ (3.35)
Shares used to calculate net loss per share	10,160,835	2,247,709

Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Shares	Preferred Stock	Series A Preferred Shares	Series A Preferred Shares Preferred Stock	Series B Preferred Shares	Series B Preferred Shares Preferred Stock	Common Shares	Common Shares Common Shares	Note Receivable	Additional paid in capital	Additional paid in capital Common Shares	Additional paid in capital Preferred Stock	Deficit accumulated during development stage
Net loss arising during development stage	$ (123)													$ (123)
Issuance of stock								42,050
Issuance of stock	9,022										$ 9,022
Ending Balance at Jun. 30, 2002								867,050
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 stock								150
Issuance of stock	36										36
Ending Balance at Jun. 30, 2003								867,200
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 stock								81,767
Issuance of stock	25,578										25,578
Ending Balance at Jun. 30, 2004								948,967
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								948,967
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								948,967
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 stock								105,488
Issuance of stock	16,820										16,820
Equity issued as share-based payment (in shares)								2,060
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								1,056,515
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 stock								91,067
Issuance of stock	14,727										14,727
Share-based compensation expense	441										441
Ending Balance at Jun. 30, 2008								1,147,582
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 stock								76,805
Issuance of stock	9,768										9,768
Share-based compensation expense	90										90
Ending Balance at Jun. 30, 2009								1,224,387
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								1,224,387
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 for note receivable (in shares)								107,391
Issuance of common stock for note receivable										$ (1,002)	1,002
Issuance of stock					1,000		742		148,403
Issuance of stock		$ 45	$ 665									$ 45	$ 665
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				1,480,181
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 stock								1,936,310
Issuance of 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				3,416,491
Ending Balance at Jun. 30, 2012	4,599										89,710			(85,111)
Net loss arising during development stage	(11,186)													(11,186)
Comprehensive loss	(11,186)
Issuance of stock								12,699,824
Issuance of stock	39,453										39,453
Conversion of Series A preferred stock				(1,000)				804,500
Issuance of common stock for purchase of intangible assets (in shares)								195,756
Issuance of common stock for purchase of intangible assets	500										500
Share-based compensation expense	1,506										1,506
Ending Balance at Jun. 30, 2013								17,116,571
Ending Balance at Jun. 30, 2013	$ 34,872										$ 131,169			$ (96,297)

Statements of Cash Flows - USD ($) shares in Thousands, $ in Thousands	12 Months Ended		151 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013
Cash flows from operating activities:
Net loss arising during the development stage	$ (11,186)	$ (7,523)	$ (96,297)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	1,506	511	4,297
Fair value of derivative liabilities in excess of proceeds			508
Gain on adjustment to fair value of derivatives		(1,139)	(1,188)
Financing costs		406	406
Depreciation and amortization	45	13	71
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(310)	126	(456)
Accounts payable	(57)	266	537
Accrued liabilities	(42)	259	1,138
Net cash used in operating activities	(10,044)	(7,081)	(90,984)
Cash flows from investing activities:
Purchases of property and equipment	(38)		(89)
Net cash used in investing activities	(38)		(89)
Cash flows from financing activities:
Net proceeds from issuance of common stock	39,453	9,831	126,387
Net proceeds from issuance of preferred stock			665
Financing costs		(406)	(406)
Net cash provided by financing activities	39,453	9,425	126,646
Net increase in cash and cash equivalents	29,371	2,344	35,573
Cash and cash equivalents at beginning of the period	6,202	3,858
Cash and cash equivalents at end of the period	35,573	6,202	35,573
Supplemental cash flow information:
Income taxes paid	$ (1)	$ (1)	$ (11)
Issuance of common stock for purchase of intangible assets	500		500

The Company and Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2013

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.), or the Company, is a development stage oncology company focused on the clinical development of novel therapeutics for cancer. The Company was incorporated in December 2000 as a wholly-owned subsidiary of Novogen Limited (“Novogen”). The Company’s common stock is listed on the Nasdaq Capital Market under the symbol “MEIP”. In December 2012, Novogen distributed to its shareholders substantially all of its MEI Pharma common stock. The Company’s former wholly-owned subsidiary, Marshall Edwards Pty Ltd (“MEPL”), was legally dissolved in April 2012. As MEPL was the Company’s only subsidiary, the financial statements are no longer consolidated.

The Company’s business purpose is the development of drugs for the treatment of cancer. The Company is principally focused on the clinical development of its lead drug candidate, Pracinostat. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor that has been tested in a number of Phase I and exploratory Phase II clinical trials in advanced hematologic diseases such as myelodysplastic syndrome (MDS), acute myeloid leukemia (AML) and myelofibrosis, as well as in solid tumor indications in both adult and pediatric patients. In August 2012, the Company acquired certain assets and intellectual property, including those related to Pracinostat, from S*Bio Pte Ltd (“S*Bio”). The Company’s clinical development pipeline also includes two isoflavone-based drug candidates, ME-344 and ME-143. ME-344 and ME-143 are derived from an isoflavone technology platform that has generated a number of compounds with anti-tumor activity in laboratory studies. These compounds have been shown to interact with specific targets resulting in the inhibition of tumor metabolism, a function critical for cancer cell survival.

Reverse Stock Split

On December 18, 2012, the Company effected a 1-for-6 reverse stock split (the “2012 Reverse Stock Split”) of the Company’s common stock. As a result of the 2012 Reverse Stock Split, every six shares of the Company’s issued and outstanding common stock were combined into one share of common stock. The 2012 Reverse Stock Split did not change the number of authorized shares of the Company’s common stock, nor the common stock par value. All financial data and share information is presented on an as-adjusted basis to give effect to the 2012 Reverse Stock Split.

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 financial statements and disclosures made in the accompanying notes to the 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 materially 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.

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. 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.

Intangible Assets

Intangible assets consist of patents acquired from S*Bio in August 2012, relating to a family of heterocyclic compounds that inhibit HDACs. Capitalized amounts are amortized on a straight-line basis over the expected life of the intellectual property of 14 years. The carrying values of intangible assets are periodically reviewed to determine if the facts and circumstances suggest that a potential impairment may have occurred. Results of operations for the year ended June 30, 2013 do not reflect any write-downs associated with the potential impairment of intangible assets.

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.

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 Company’s Amended and Restated 2008 Stock Omnibus Equity Compensation Plan (the Plan) provides for the grant of stock options, restricted stock units (RSUs), and other stock-based or stock-denominated awards. The maximum number of shares of common stock issuable under the Plan is 2,186,000 shares, of which 1,217,239 shares are available for awards as of June 30, 2013.

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 RSU equity awards are measured using the grant date fair value of the Company’s common stock. The estimated fair values of the stock options and RSUs, including the effect of estimated forfeitures, are expensed over the vesting period.

The Company recognized share-based compensation expenses of $1,506,000 and $511,000 during the years ended June 30, 2013 and 2012, 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, 2013 and 2012, 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 of the Company 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, 2013 and 2012.

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 at fair value as additional paid-in capital on our balance sheet and are not marked to market. Warrants classified as derivative liabilities and other derivative financial instruments that require separate accounting as liabilities are recorded on the Company’s 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 the Company’s derivative 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 year ended June 30, 2012. There were no derivative liabilities as of June 30, 2013 or June 30, 2012.

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, 2013 and 2012.

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


	Year ended June 30,
	2013			2012
Numerator
Net loss arising during the development stage	$	(11,186	)	$	(7,523	)

Denominator
Weighted average common shares outstanding		10,160,835			2,247,709

Basic and diluted net loss per share	$	(1.10	)	$	(3.35	)

Because the Company is in a net loss position, it has excluded stock options, warrants, restricted stock units and convertible preferred stock from its calculation of diluted net loss per share, and the Company’s diluted net loss per share is the same as the Company’s basic net loss per share. The table below presents the potentially dilutive securities that would have been included in the Company’s calculation of diluted net loss per share allocable to common stockholders if they were not antidilutive at June 30, 2013 and 2012.


	Year ended June 30,
	2013		2012
Anti-dilutive securities not included in diluted loss per share:
Stock options		635,094		143,927
Warrants		5,062,000		937,295
Restricted stock units		400,000		—
Convertible preferred shares		—		804,500

Total anti-dilutive securities not included in diluted net loss per share		6,097,094		1,885,722

Composition of Certain Balance Sheet Items

12 Months Ended

Jun. 30, 2013

Composition of Certain Balance Sheet Items

Note 2. Composition of Certain Balance Sheet Items

Accrued liabilities consisted of the following, in thousands:


	June 30,
	2013		2012
Accrued pre-clinical and clinical trial expenses	$	279	$	485
Accrued compensation and benefits		604		426
Accrued legal and professional services expenses		145		187
Other		110		82

	$	1,138	$	1,180

Related Party Transactions

12 Months Ended

Jun. 30, 2013

Related Party Transactions

Note 3. Related Party Transactions

Novogen was the Company’s majority shareholder from the Company’s inception through December 3, 2012. On such date, Novogen completed the distribution of substantially all of its MEI Pharma common stock to its shareholders. Historically, the Company licensed from Novogen the rights to Novogen patents and applications for the Company’s isoflavone-based drug candidates, as well as other compounds. Additionally, Novogen historically provided research and development services and administrative and finance services to the Company under service agreements. The Company’s license agreements with Novogen were terminated in May 2011 in conjunction with the Company’s purchase of a portfolio of isoflavone-related assets from Novogen (the “Isoflavone Transaction”). The service agreements with Novogen were terminated in December 2010.

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, which were subsequently converted into 804,500 shares of common stock in November 2012. The transaction closed in May 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 license 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. MEPL paid Novogen a total of $16,000,000 in fiscal years 2004 through 2007 under the terms of the agreement;

•

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). MEPL paid Novogen a total of $4,000,000 in fiscal years 2006 through 2009 under the terms of the agreement;

•

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. MEPL paid Novogen $1,500,000 in August 2009 under the terms of the Agreement.

Rights Offering

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 0.0833 shares of our common stock and a warrant representing the right to purchase 0.04167 shares of the Company’s common stock. In connection with the rights offering, in May 2012, Novogen purchased 8,988,675 units consisting of 749,056 shares of common stock and warrants to purchase an additional 374,528 shares of common stock. The warrants are exercisable for a five-year period beginning on May 11, 2012 at an exercise price of $7.14 per share. See further discussion regarding the Rights Offering in Note 4 “Stockholders’ Equity”.

Waiver Agreement

On December 5, 2012, the Company entered into an agreement (the “Waiver Agreement”) with Novogen and Novogen Research Pty Limited, a wholly-owned subsidiary of Novogen (together, the “Novogen Parties”), Graham Kelly, an individual, and Andrew Heaton, an individual, pursuant to which the Company granted a limited waiver with respect to certain non-compete provisions contained in the Asset Purchase Agreement dated as of December 20, 2010, between the Company and the Novogen Parties. In consideration of the Company’s grant of the limited waiver, upon the execution of the Waiver Agreement, Novogen surrendered to the Company for cancellation warrants held by Novogen for the purchase of 166,666 shares of Common Stock.

Securities Subscription Agreements

On September 27, 2011, the Company entered into a Securities Subscription Agreement with Novogen, pursuant to which the Company sold to Novogen 222,222 shares of common stock, at a purchase price of $9.00 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 323,625 shares of common stock, at a purchase price of $6.18 per share, for proceeds of $2,000,000. The offering closed on December 29, 2011.

- 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 + Details

Stockholders' Equity

12 Months Ended

Jun. 30, 2013

Stockholders' Equity

Note 4. Stockholders’ Equity

Equity Transactions

Underwritten Registered Offering

On April 10, 2013, the Company completed an underwritten registered offering of 2,030,000 shares of its common stock at a price per share of $7.50 pursuant to a “shelf” registration statement previously filed and declared effective by the Securities and Exchange Commission. The Company received net proceeds of $14.2 million associated with the offering.

Private Placement

On December 18, 2012, the Company completed the sale (the “December 2012 private placement”) of 9,166,665 shares of common stock and warrants to purchase an additional 6,416,665 shares of common stock for an aggregate offering price of $27.5 million, pursuant to the terms of the Securities Purchase Agreement, dated November 4, 2012, between the Company and certain accredited investors identified therein. The Company received net proceeds of $25.3 million associated with the Private Placement. In the period from December 2012 through April 2013, the investors exercised, on a cashless basis, warrants representing the right to purchase 1,890,304 shares of common stock. The Company issued 1,383,959 shares of common stock in conjunction with the exercise of the warrants.

S*Bio Asset Purchase

Rights Offering

In May 2012, the Company’s completed a rights offering (“Rights Offering”) pursuant to which the Company distributed, at no charge, to holders of record as of March 30, 2012, subscription rights (the “Rights”) to purchase up to 17,129,361 units for an aggregate purchase price of up to $7.6 million. The subscription period for the Rights Offering expired on May 11, 2012. Each unit consisted of 0.0833 shares of common stock and a warrant representing the right to purchase 0.04167 shares of common stock at an exercise price of $7.14 per share. The exercise of one Right entitled holders to purchase one unit at a subscription price of $0.445 per unit, which represented the subscription price of $5.34 per whole share. Eligible participants in the Rights Offering exercised Rights to purchase an aggregate of 11,660,606 units; accordingly, the Company issued 971,700 shares of common stock and warrants to purchase an additional 485,857 shares of common stock. The warrants are exercisable for a five-year period beginning on May 11, 2012. The Company received net proceeds of $4.8 million associated with the Rights Offering. In December 2012, upon the execution of the Waiver Agreement, Novogen surrendered to the Company for cancellation warrants acquired by Novogen in the Rights Offering for the purchase of 166,666 shares of common stock. Additionally, in March 2013, holders exercised warrants acquired in the Rights Offering representing the right to purchase 41 shares of common stock.

Private Placements with Novogen

In September 2011, the Company entered into a Securities Subscription Agreement with Novogen, pursuant to which the Company sold to Novogen 222,222 shares of the Company’s common stock, at a purchase price of $9.00 per share, for proceeds of $2,000,000. The offering closed on September 29, 2011. In December 2011, the Company entered into a Securities Subscription Agreement with Novogen, pursuant to which the Company sold to Novogen 323,625 shares of our common stock, at a purchase price of $6.18 per share, for proceeds of $2,000,000. The offering closed on December 29, 2011.

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) 139,203 shares (the “Initial Shares”) of common stock, at a purchase price of $8.00 per share; (ii) series A warrants (the “Series A warrants”) which initially represented the right to purchase up to 104,402 shares of common stock, up to a maximum of 375,094 shares; and (iii) series B warrants (the “Series B warrants”) which initially represented the right to purchase up to 360,922 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 $8.00 per share, but greater than or equal to $4.50 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 108,207, 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 388,764 shares. If the trading price of the Company’s common stock is below $4.50 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 $4.50 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 35,008 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 111,212 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 40,950 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 $9.42 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) $8.00, 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 Series B warrants representing the right to purchase 215,667 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 161,750 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 $6.00 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 exercise of Series B Warrants representing the right to purchase 145,256 shares of common stock issuance by the Company of an aggregate of 50,934 shares of common stock. Pursuant to the terms of the Amended Securities Purchase Agreement, additional Series A warrants to purchase 108,942 shares of common stock became exercisable as a result of these Series B warrant exercises. As of September 28, 2011, there were no remaining outstanding Series B warrants.

In December 2012, the investors exercised, on a cashless basis, an aggregate of Series A warrants representing the right to purchase 194,381 shares of common stock. The Company issued 119,158 shares of common stock in conjunction with the exercise of the Series A 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 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. 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, 2013 or 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 classified as ‘Adjustments to Fair Value of Derivatives’ in the Statement of Operations. 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 completion of the Company’s obligations related to the derivative liabilities during the year ended June 30, 2012 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 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 Statement of Operations.

Shelf Registration Statement

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, if the Company’s public float is 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. On April 10, 2013, the Company completed an underwritten registered offering of 2,030,000 shares of its common stock at a price per share of $7.50 pursuant to the shelf registration statement.

Stock Purchase Agreement

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) 107,391 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.

Securities Subscription Agreement

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 48,472 and 28,333 shares of common stock to Novogen and the accredited investors, respectively, at a purchase price of $130.20 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 warrants representing the right to purchase 768 shares of common stock to a consultant for investment services performed for the Company. The warrants were exercisable immediately upon issuance. The warrants had an exercise price of $130.20 per share, and expired unexercised 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 9,200 shares of common stock under the sales agreement for $131,000, resulting in net proceeds of $45,000 after deducting offering-related expenses.

Private Placement

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 91,067 shares of common stock at a purchase price of $180.00 per share. The investors also received a warrant representing the right to purchase an additional .67 shares of common stock for every block of 1.67 shares of common stock purchased. The warrants had an exercise price of $216.00 per share, and expired unexercised in August 2012. The Company also issued warrants representing the right to purchase 1,035 shares of common stock to the placement agent, as part of the placement fee. Each warrant represented the right to purchase four shares of common stock. The warrants issued to the placement agent had an exercise price of $180.00 per share and expired unexercised in August 2012. The fair value of warrants issued to the placement agent, valued at $441,000, was 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.

Standby Equity Distribution Agreement

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 2,060 shares of its common stock, and warrants representing the right to purchase 10,000 shares of its common stock. The warrants, which subsequently expired without being exercised, had an exercise price of $261.00 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.

Private Placement

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 105,488 shares of the Company’s common stock and warrants representing the right to purchase 36,921 shares of the Company’s common stock at a purchase price of $29.00 per unit. Each unit consisted of .17 shares of common stock and 0.06 of a warrant to purchase one share of common stock. The warrants, which subsequently expired without being exercised, had an exercise price of $261.00 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.

December 2003 Public Offering

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 .17 shares of common stock and one warrant representing the right to purchase .17 shares of common stock, exercisable prior to December 18, 2006, at an exercise price of $540.00. 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.

Initial Public Offering

In May 2002, the Company sold 42,050 shares of its common stock and 42,050 warrants in an initial public offering (IPO), raising net proceeds of $9.0 million. The warrants were exercisable prior to November 30, 2003, at an exercise price of $240.00 per share. In June 2003, 150 warrants were exercised, resulting in proceeds to the Company of $36,000. In November 2003, the remaining 41,900 warrants were exercised at an exercise price of $240.00 per share with proceeds to the Company of $10.1 million. In conjunction with the IPO, the Company’s common stock was listed for trading on the Alternative Investment Market, a sub-market of the London Stock Exchange (AIM). In January 2006, the Company voluntarily cancelled the trading of its common stock on the AIM.

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 to Novogen 1,000 shares of Series A Convertible Preferred Stock. Each share of the Series A Convertible Preferred Stock was initially convertible into 804.5 shares of common stock. In addition, if a Phase II clinical trial involving the Company’s isoflavone technology were to achieve a statistically significant result (p=0.05 or less) or a first patient were enrolled in a Phase III clinical trial using the Company’s isoflavone technology , then any share of the Series A Preferred Stock not already converted may thereafter have been converted into 1,609 shares of common stock. On November 19, 2012, Novogen provided the Company written notice of conversion with respect to all of the 1,000 shares of Series A Preferred Stock held by Novogen. In accordance with the terms of the Preferred Shares, on November 20, 2012, the Company issued to Novogen 804,500 shares of common stock. In December 2012, Novogen completed a capital reduction and in specie distribution to the Novogen shareholders of substantially all of the shares of the Company’s common stock that it owned. Holders of the Series A Convertible Preferred Stock were 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 would have declared and authorized a special dividend or distribution on any shares of Series A Convertible Preferred Stock. Additionally, holders of the Series A Convertible Preferred Stock were not entitled to vote any shares of the Series A Convertible Preferred Stock. The holders of the Series A Convertible Preferred Stock did not have any rights of pre-emption, except as the Company may otherwise have agreed in writing.

Series B Preferred Stock

The 742 shares of Series B Preferred Stock, all of which were redeemed and cancelled in March 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, 2013, there were outstanding warrants to purchase 319,150 shares of the Company’s common stock at an exercise price of $7.14 per share, which expire in May 2017, issued in conjunction with the Rights Offering; 768 shares of the Company’s common stock at $130.20 per share, which expired unexercised in July 2013; outstanding Series A warrants and warrants issued to the Company’s placement agent for the May 2011 private placement to purchase up to 215,721 shares of common stock at an exercise price of $6.00 per share, which expire in November 2016, and warrants to purchase 4,526,361 shares of the Company’s common stock at an exercise price of $3.12 per share, which expire in December 2017, issued in conjunction with the December 2012 private placement.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: 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.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Share-based Compensation

12 Months Ended

Jun. 30, 2013

Share-based Compensation

Note 5. Share-based Compensation

The Company uses equity-based compensation programs to provide long-term performance incentives for its employees. These incentives consist primarily of stock options and restricted stock units (RSUs). 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 and 2013, under which 2,186,000 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.

Stock Options

As of June 30, 2013, there were a total of 635,094 options outstanding, including options representing the right to purchase a total of 66,333 shares of common stock which were granted to two of the Company’s officers outside of the 2008 Plan. As of June 30, 2013, there were 1,217,239 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, 2011		99,364	$	12.48
Granted		44,562		9.78
Forfeited/Expired		—		—

Balance at June 30, 2012		143,926		11.64
Granted		491,168		7.27
Forfeited/Expired		—		—

Balance at June 30, 2013		635,094	$	8.26

As of June 30, 2013, there were 145,596 options vested and exercisable, with a weighted-average exercise price of $10.83 and a remaining contractual term of 3.1 years. No stock option exercises occurred during the years ended June 30, 2013 or 2012. As of June 30, 2013, the total intrinsic value of outstanding options, which is the difference between the exercise price of the underlying options and the closing price of the Company’s common stock of $7.13 on that date, was $426,000.

Unrecognized compensation expense related to non-vested stock options totalled $1,948,000 as of June 30, 2013. Such compensation expense is expected to be recognized over a weighted-average period of 3.3 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,
	2013		2012
Risk-free interest rate		.62% - 1.01%		.62% - 1.32%
Expected life		5 years		5 years
Expected volatility		153% - 161%		145% - 152%
Dividend yield		0%		0%
Weighted-average grant date fair value	$	6.57	$	8.56

Exercise prices and weighted-average remaining contractual lives for the options outstanding as of June 30, 2013 were:


Options Outstanding	Exercise Price	Weighted Average Remaining Contractual Life (Years)	Options Exercisable		Weighted Average Exercise Price of Options Exercisable
833	$37.80	0.6		833	$	37.80
18,365	$30.30	1.8		14,549	$	30.30
18,365	$11.16	1.8		14,549	$	11.16
12,243	$9.12	2.0		9,181	$	9.12
13,705	$4.62	2.2		9,433	$	4.62
6,250	$6.90	2.3		4,033	$	6.90
29,603	$7.68	2.9		14,805	$	7.68
23,083	$11.40	3.1		10,581	$	11.40
332	$9.18	3.2		146	$	9.18
16,776	$8.04	3.3		9,280	$	8.04
4,194	$8.04	2.7		4,194	$	8.04
177	$3.66	3.9		44	$	3.66
5,401	$2.82	4.0		—	$	—
67,892	$2.76	4.1		—	$	—
15,872	$4.26	4.2		—	$	—
3,968	$4.26	2.7		3,968	$	4.26
50,000	$8.52	4.4		50,000	$	8.52
5,000	$7.05	4.5		—	$	—
6,319	$5.19	4.6		—	$	—
2,500	$8.23	4.7		—	$	—
194,153	$8.63	4.7		—	$	—
51,000	$8.74	4.8		—	$	—
4,063	$8.09	4.9		—	$	—
85,000	$7.25	5.0		—	$	—

635,094		4.1		145,596	$	10.83

Restricted Stock Units

On March 29, 2013, the Compensation Committee of the Board of Directors granted 400,000 RSUs to the Company’s Chief Executive Officer, Dr. Daniel P. Gold. Each RSU represents the contingent right to receive one share of the Company’s common stock. One third of the RSUs will vest on each of August 30, 2014, August 30, 2015 and August 30, 2016. The shares underlying the vested RSUs will be delivered to Dr. Gold on the earliest to occur of (i) March 29, 2018, (ii) Dr. Gold’s death, disability or separation from service from the Company for any reason, or (iii) a change in control involving the Company.

The fair value of the RSUs on the date of grant was $3,452,000. The grant date fair value per unit was $8.63. As of June 30, 2013, unrecognized compensation expense related to the unvested portion of the Company’s RSUs was approximately $3,039,000 and is expected to be recognized over approximately 3.2 years.

Commitments and Contingencies

12 Months Ended

Jun. 30, 2013

Commitments and Contingencies

Note 6. Commitments and Contingencies

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. The Company also 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.

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. On January 3, 2013, the Company entered into an amendment to the lease (“First Lease Amendment”). The First Lease Amendment extends the lease term through June 2015. In addition, it adds expansion space of approximately 2,500 square feet of office space, which co-terminates with the extension of the original lease in June 2015. The additional expansion space portion of the lease began in February 2013. The Company currently leases approximately 6,200 square feet of space at a monthly rental rate of $17,014 to $18,252 during the term of the lease. Future minimum payments under the lease are $188,000 and $213,000 for the years ending June 30, 2014 and June 30, 2015, respectively.

Asset Purchase Agreement

On August 7, 2012, the Company entered into a definitive asset purchase agreement with S*Bio, pursuant to which the Company agreed to acquire certain assets comprised of intellectual property and technology including rights to Pracinostat, in exchange for $500,000 of common stock. On August 22, 2012, the Company completed the asset purchase and issued 195,756 shares of common stock to S*Bio. The Company has also agreed to make certain milestone payments to S*Bio based on the achievement of certain clinical, regulatory and net sales-based milestones, as well as to make certain contingent earnout payments to S*Bio. Milestone payments will be made to S*Bio up to an aggregate amount of $75.2 million if certain U.S., E.U. and Japanese regulatory approvals are obtained and if certain net sales thresholds are met in North America, the E.U. and Japan. The first milestone payment of $200,000 plus shares of the Company’s common stock having a value of $500,000 will be due upon the first dosing of a patient in a Phase III clnical trial or other pivotal trial, for any indication. Subsequent milestone payments will be due upon certain regulatory approvals. S*Bio will be entitled to receive certain contingent earnout payments based on certain worldwide net sales thresholds on a product-by-product and country-by-country basis. As of June 30, 2013, the Company has not accrued any amounts for potential future payments.

License Agreement

On September 28, 2012, the Company entered into a license agreement with CyDex Pharmaceuticals, Inc. (“CyDex”). Under the license agreement, CyDex granted to the Company an exclusive, nontransferable license to intellectual property rights relating to Captisol^® for use with the Company’s two isoflavone-based drug compounds. The Company agreed to pay to CyDex a non-refundable license issuance fee, future milestone payments, and royalties at a low, single-digit percentage rate on future sales of the Company’s approved drugs utilizing Captisol. Contemporaneously with the license agreement, the Company and CyDex entered into a commercial supply agreement pursuant to which the Company agreed to purchase 100% of its requirements for Captisol from CyDex. The Company may terminate both the license agreement and the supply agreement for convenience at any time upon 90 days’ prior written notice. As of June 30, 2013, the Company has not accrued any amounts for potential future payments.

Segment Information

12 Months Ended

Jun. 30, 2013

Segment Information

Note 7. Segment Information

The Company has one operating segment, the development of pharmaceutical compounds. The Company’s business contained two geographic segments, the United States of America and Australia, from inception until MEPL’s legal dissolution in April 2012. For the year ended June 30, 2012, net losses attributable to Australia were immaterial. All of the Company’s assets and liabilities were located in the United States of America as of June 30, 2013 and June 30, 2012.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

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

+ Details

Income Taxes

12 Months Ended

Jun. 30, 2013

Income Taxes

Note 8. Income Taxes

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


	Year ended June 30,
	2013			2012
Domestic	$	(11,185	)	$	(8,547	)
Foreign		—			1,024

Pre-tax loss	$	(11,185	)	$	(7,523	)

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,
	2013						2012
	$			%			$			%
Tax benefit at U.S. statutory rates	$	3,803			34	%	$	2,557			34	%
State tax		652			6	%		474			6	%
Australian tax		—			0	%		41			1	%
Expiration of foreign tax losses		—			0	%		(28,202	)		-375	%
(Increase)/ decrease in valuation allowance		(4,456	)		-40	%		25,129			334	%

	$	(1	)		0	%	$	(1	)		0	%

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


	Year ended June 30,
	2013			2012
Deferred tax liabilities:
Change in accounting method adjustments	$	(1,607	)	$	(2,411	)

Total deferred tax liabilities		(1,607	)		(2,411	)
Deferred tax assets:
Tax carried forward losses		2,463			4,153
Share-based payments		1,057			458
Consultant and other accruals		29			27
Fixed and intangible assets		12,315			7,656
Compensation accruals		240			161
Capital loss carryforward		26,382			26,382

Total deferred tax assets		42,486			38,837
Valuation allowance for deferred tax assets		(40,879	)		(36,426	)

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, 2013 and 2012. 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.

The Company had federal and state net operating loss carryforwards of approximately $6,531,000 and $4,166,000 at June 30, 2013. The federal and state net operating losses will begin to expire in 2022 and 2029, 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 carryforwards 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 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 carryforward 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. If the Company utilizes a net operating loss related to a closed year, the statute for that year would re-open. The Company has not reduced any tax benefit on its financial statements due to uncertain tax positions at June 30, 2013 and it is not aware of any circumstance that would significantly change this result through the end of fiscal year 2014. To the extent the Company incurs income-tax related penalties or interest, the Company recognizes them as additional income tax expense.

Selected Quarterly Financial Information (Unaudited)

12 Months Ended

Jun. 30, 2013

Selected Quarterly Financial Information (Unaudited)

Note 9. Selected Quarterly Financial Information (Unaudited)

The following table presents the Company’s unaudited quarterly results of operations for the years ended June 30, 2013 and 2012 (in thousands, except per share amounts).


	Quarter Ended												Year Ended June 30, 2013
	June 30, 2013			March 31, 2013			December 31, 2012			September 30, 2012			Year Ended June 30, 2013
Net loss arising during development stage	$	(3,215	)	$	(2,753	)	$	(2,754	)	$	(2,464	)	$	(11,186	)
Basic and diluted loss per share	$	(0.19	)	$	(0.18	)	$	(0.50	)	$	(0.70	)	$	(1.10	)

	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	$	(0.71	)	$	(0.93	)	$	(0.78	)	$	(1.01	)	$	(3.35	)

The Company and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2013

Reverse Stock Split

Reverse Stock Split

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

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.

Concentration of Credit Risk

Concentration of Credit Risk

Intangible Assets

Intangible Assets

Property and Equipment

Property and Equipment

Research and Development Costs

Research and Development Costs

License Fees

License Fees

Share-based Compensation

Share-based Compensation

The Company recognized share-based compensation expenses of $1,506,000 and $511,000 during the years ended June 30, 2013 and 2012, respectively.

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

Derivative Liabilities

Derivative Liabilities

Net Loss Per Share

Net Loss Per Share

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


	Year ended June 30,
	2013			2012
Numerator
Net loss arising during the development stage	$	(11,186	)	$	(7,523	)

Denominator
Weighted average common shares outstanding		10,160,835			2,247,709

Basic and diluted net loss per share	$	(1.10	)	$	(3.35	)


	Year ended June 30,
	2013		2012
Anti-dilutive securities not included in diluted loss per share:
Stock options		635,094		143,927
Warrants		5,062,000		1,298,218
Restricted stock units		400,000		—
Convertible preferred shares		—		804,500

Total anti-dilutive securities not included in diluted net loss per share		6,097,094		2,246,645

The Company and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2013

Net Loss Per Share

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


	Year ended June 30,
	2013			2012
Numerator
Net loss arising during the development stage	$	(11,186	)	$	(7,523	)

Denominator
Weighted average common shares outstanding		10,160,835			2,247,709

Basic and diluted net loss per share	$	(1.10	)	$	(3.35	)

Antidilutive Securities

The table below presents the potentially dilutive securities that would have been included in the Company’s calculation of diluted net loss per share allocable to common stockholders if they were not antidilutive at June 30, 2013 and 2012.


	Year ended June 30,
	2013		2012
Anti-dilutive securities not included in diluted loss per share:
Stock options		635,094		143,927
Warrants		5,062,000		937,295
Restricted stock units		400,000		—
Convertible preferred shares		—		804,500

Total anti-dilutive securities not included in diluted net loss per share		6,097,094		1,885,722

Composition of Certain Balance Sheet Items (Tables)

12 Months Ended

Jun. 30, 2013

Accrued Liabilities

Accrued liabilities consisted of the following, in thousands:


	June 30,
	2013		2012
Accrued pre-clinical and clinical trial expenses	$	279	$	485
Accrued compensation and benefits		604		426
Accrued legal and professional services expenses		145		187
Other		110		82

	$	1,138	$	1,180

Share-based Compensation (Tables)

12 Months Ended

Jun. 30, 2013

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, 2011		99,364	$	12.48
Granted		44,562		9.78
Forfeited/Expired		—		—

Balance at June 30, 2012		143,926		11.64
Granted		491,168		7.27
Forfeited/Expired		—		—

Balance at June 30, 2013		635,094	$	8.26

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,
	2013		2012
Risk-free interest rate		.62% - 1.01%		.62% - 1.32%
Expected life		5 years		5 years
Expected volatility		153% - 161%		145% - 152%
Dividend yield		0%		0%
Weighted-average grant date fair value	$	6.57	$	8.56

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, 2013 were:


Options Outstanding	Exercise Price	Weighted Average Remaining Contractual Life (Years)	Options Exercisable		Weighted Average Exercise Price of Options Exercisable
833	$37.80	0.6		833	$	37.80
18,365	$30.30	1.8		14,549	$	30.30
18,365	$11.16	1.8		14,549	$	11.16
12,243	$9.12	2.0		9,181	$	9.12
13,705	$4.62	2.2		9,433	$	4.62
6,250	$6.90	2.3		4,033	$	6.90
29,603	$7.68	2.9		14,805	$	7.68
23,083	$11.40	3.1		10,581	$	11.40
332	$9.18	3.2		146	$	9.18
16,776	$8.04	3.3		9,280	$	8.04
4,194	$8.04	2.7		4,194	$	8.04
177	$3.66	3.9		44	$	3.66
5,401	$2.82	4.0		—	$	—
67,892	$2.76	4.1		—	$	—
15,872	$4.26	4.2		—	$	—
3,968	$4.26	2.7		3,968	$	4.26
50,000	$8.52	4.4		50,000	$	8.52
5,000	$7.05	4.5		—	$	—
6,319	$5.19	4.6		—	$	—
2,500	$8.23	4.7		—	$	—
194,153	$8.63	4.7		—	$	—
51,000	$8.74	4.8		—	$	—
4,063	$8.09	4.9		—	$	—
85,000	$7.25	5.0		—	$	—

635,094		4.1		145,596	$	10.83

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2013

Pre-Tax Loss Information

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


	Year ended June 30,
	2013			2012
Domestic	$	(11,185	)	$	(8,547	)
Foreign		—			1,024

Pre-tax loss	$	(11,185	)	$	(7,523	)

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,
	2013						2012
	$			%			$			%
Tax benefit at U.S. statutory rates	$	3,803			34	%	$	2,557			34	%
State tax		652			6	%		474			6	%
Australian tax		—			0	%		41			1	%
Expiration of foreign tax losses		—			0	%		(28,202	)		-375	%
(Increase)/ decrease in valuation allowance		(4,456	)		-40	%		25,129			334	%

	$	(1	)		0	%	$	(1	)		0	%

Deferred Tax Liabilities and Assets

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


	Year ended June 30,
	2013			2012
Deferred tax liabilities:
Change in accounting method adjustments	$	(1,607	)	$	(2,411	)

Total deferred tax liabilities		(1,607	)		(2,411	)
Deferred tax assets:
Tax carried forward losses		2,463			4,153
Share-based payments		1,057			458
Consultant and other accruals		29			27
Fixed and intangible assets		12,315			7,656
Compensation accruals		240			161
Capital loss carryforward		26,382			26,382

Total deferred tax assets		42,486			38,837
Valuation allowance for deferred tax assets		(40,879	)		(36,426	)

Net deferred tax assets and liabilities	$	—		$	—

Selected Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Jun. 30, 2013

Unaudited Quarterly Results of Operations

The following table presents the Company’s unaudited quarterly results of operations for the years ended June 30, 2013 and 2012 (in thousands, except per share amounts).


	Quarter Ended												Year Ended June 30, 2013
	June 30, 2013			March 31, 2013			December 31, 2012			September 30, 2012			Year Ended June 30, 2013
Net loss arising during development stage	$	(3,215	)	$	(2,753	)	$	(2,754	)	$	(2,464	)	$	(11,186	)
Basic and diluted loss per share	$	(0.19	)	$	(0.18	)	$	(0.50	)	$	(0.70	)	$	(1.10	)

	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	$	(0.71	)	$	(0.93	)	$	(0.78	)	$	(1.01	)	$	(3.35	)

Company and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	1 Months Ended		12 Months Ended		151 Months Ended
	Dec. 18, 2012	Dec. 31, 2000	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013
Targeted or Tracking Stock, Stock [Line Items]
Incorporation date, year and month		2000-12
Reverse stock split ratio	1-for-6
Highly liquid investments, maturity period maximum			3 months
Estimated life of the intellectual property			14 years
Impairment of intangible assets			$ 0
Share-based compensation expense			$ 1,506,000	$ 511,000	$ 4,297,000
Percentage of likelihood of income tax being sustained			50.00%
Unrecognized tax benefits			$ 0	$ 0	$ 0
Minimum
Targeted or Tracking Stock, Stock [Line Items]
Property and equipment, estimated useful life			3 years
Maximum
Targeted or Tracking Stock, Stock [Line Items]
Property and equipment, estimated useful life			7 years
Two Thousand and Eight Omnibus Plan
Targeted or Tracking Stock, Stock [Line Items]
Shares available for awards under the plan			1,217,239		1,217,239
Two Thousand and Eight Omnibus Plan \| Maximum
Targeted or Tracking Stock, Stock [Line Items]
Number of shares issuable under the plan			2,186,000		2,186,000

Components of Net Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended		151 Months Ended
	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013
Numerator
Net loss arising during the development stage	$ (3,215)	$ (2,753)	$ (2,754)	$ (2,464)	$ (2,101)	$ (2,269)	$ (1,541)	$ (1,612)	$ (11,186)	$ (7,523)	$ (96,297)
Denominator
Weighted average common shares outstanding									10,160,835	2,247,709
Basic and diluted net loss per share	$ (0.19)	$ (0.18)	$ (0.50)	$ (0.70)	$ (0.71)	$ (0.93)	$ (0.78)	$ (1.01)	$ (1.10)	$ (3.35)

Antidilutive Securities (Detail) - shares	12 Months Ended
Antidilutive Securities (Detail) - shares	Jun. 30, 2013	Jun. 30, 2012
Anti-dilutive securities not included in diluted loss per share:
Total anti-dilutive securities not included in diluted net loss per share	6,097,094	1,885,722
Stock Option
Anti-dilutive securities not included in diluted loss per share:
Total anti-dilutive securities not included in diluted net loss per share	635,094	143,927
Series A and B warrants
Anti-dilutive securities not included in diluted loss per share:
Total anti-dilutive securities not included in diluted net loss per share	5,062,000	937,295
Restricted Stock Unit
Anti-dilutive securities not included in diluted loss per share:
Total anti-dilutive securities not included in diluted net loss per share	400,000
Convertible Preferred Stock
Anti-dilutive securities not included in diluted loss per share:
Total anti-dilutive securities not included in diluted net loss per share		804,500

Accrued Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Jun. 30, 2012
Accrued Liabilities [Line Items]
Accrued pre-clinical and clinical trial expenses	$ 279	$ 485
Accrued compensation and benefits	604	426
Accrued legal and professional services expenses	145	187
Other	110	82
Accrued liabilities	$ 1,138	$ 1,180

Related Party Transaction - Additional Information (Detail)	1 Months Ended											2 Months Ended	12 Months Ended		48 Months Ended		151 Months Ended
	Nov. 30, 2012 shares	May 31, 2012 $ / Right shares	Mar. 31, 2012 shares	Dec. 31, 2011 USD ($) shares	Dec. 28, 2011 USD ($) $ / shares shares	Sep. 30, 2011 USD ($) shares	Sep. 27, 2011 USD ($) $ / shares shares	Aug. 31, 2009 USD ($)	Jul. 31, 2006 shares	Dec. 31, 2003 shares	May 31, 2002 USD ($)	Aug. 31, 2011 shares	Jun. 30, 2013 USD ($) $ / Right shares	Jun. 30, 2012 USD ($) shares	Jun. 30, 2009 USD ($)	Jun. 30, 2007 USD ($)	Jun. 30, 2013 USD ($) $ / Right shares	Dec. 05, 2012 shares	Dec. 31, 2010 shares	Dec. 18, 2006 $ / Right	Nov. 30, 2003 $ / Right
Related Party Transaction [Line Items]
License agreement expenses \| $																	$ 21,500,000
Number of shares of common stock in each unit									1	0.17
Number of warrants in each unit									0.06	1
Number of shares each warrant to purchase of common stock										0.17
stock issued										239,200		215,667
Exercise price per share \| $ / Right													130.20				130.20			540.00	240.00
Issuance of Common Stock													17,116,571	3,416,491			17,116,571
Proceeds from issuance of common stock \| $											$ 9,000,000		$ 39,453,000	$ 9,831,000			$ 126,387,000
License agreement for Triphendiol and NV-143
Related Party Transaction [Line Items]
License agreement expenses \| $															$ 4,000,000
License Agreement For NV-128
Related Party Transaction [Line Items]
License agreement expenses \| $								$ 1,500,000
Novogen
Related Party Transaction [Line Items]
Number of shares of common stock in each unit			0.0833
Number of warrants in each unit			1
Number of shares each warrant to purchase of common stock			0.04167
Novogen
Related Party Transaction [Line Items]
License agreement expenses \| $																$ 16,000,000
Number of subscription right unit issued		8,988,675
stock issued		749,056
Warrants issued		374,528
Warrant exercisable period		5 years
Exercise price per share \| $ / Right		7.14
Novogen \| Warrants Cancelled
Related Party Transaction [Line Items]
Warrants to purchase common stock																		166,666
Series A Preferred Stock
Related Party Transaction [Line Items]
Preferred shares issued													1,000	1,000			1,000		1,000
Common stock issued up on Conversion of preferred stock	804,500
Securities Subscription Agreement With Novogen
Related Party Transaction [Line Items]
stock issued				323,625		222,222
Issuance of Common Stock					323,625		222,222
Purchase Price of common stock issued \| $ / shares					$ 6.18		$ 9.00
Proceeds from issuance of common stock \| $				$ 2,000,000	$ 2,000,000	$ 2,000,000	$ 2,000,000

Stockholders' Equity - Additional Information (Detail)	1 Months Ended																												2 Months Ended		5 Months Ended	12 Months Ended									151 Months Ended
Stockholders' Equity - Additional Information (Detail)	Apr. 10, 2013 USD ($) $ / shares shares	Mar. 31, 2013 shares	Dec. 31, 2012 shares	Dec. 18, 2012 USD ($) shares	Nov. 20, 2012 shares	Aug. 22, 2012 USD ($) shares	Aug. 07, 2012 USD ($)	May 31, 2012 $ / Right shares	May 11, 2012 USD ($) $ / shares $ / Right shares	Mar. 30, 2012 USD ($) shares	Dec. 31, 2011 USD ($) $ / shares shares	Dec. 29, 2011 shares	Dec. 28, 2011 USD ($)	Sep. 30, 2011 USD ($) $ / shares shares	Sep. 28, 2011 USD ($) $ / shares shares	Sep. 27, 2011 USD ($)	May 31, 2011 USD ($) $ / shares shares	May 11, 2011 $ / 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 shares	Apr. 30, 2013 shares	Jun. 30, 2013 USD ($) $ / shares $ / Right shares	Jun. 30, 2012 USD ($) $ / shares shares	Jun. 30, 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 ($)	Jun. 30, 2013 USD ($) $ / shares $ / Right shares	Dec. 05, 2012 shares	Dec. 18, 2006 $ / Right
Class of Stock [Line Items]
stock issued																									239,200				215,667
Purchase price common stock \| $ / shares																									$ 75.00
Proceeds from issuance of common stock \| $																												$ 9,000,000				$ 39,453,000	$ 9,831,000								$ 126,387,000
Proceed from issuance of private placement \| $																								$ 16,800,000
Issuance of common stock to acquire intellectual property and technology rights \| $						$ 500,000	$ 500,000
Issuance of common stock to purchase asset, shares						195,756
Number of shares of common stock in each unit																								1	0.17
Number of shares each warrant to purchase of common stock																									0.17
Exercise price \| $ / Right																										240.00						130.20									130.20		540.00
Warrants exercised		41																								41,900	150
Warrants exercisable																													161,750
Proceeds from exercise of warrants \| $																										$ 10,100,000	$ 36,000		$ 1,094,000
Warrants outstanding																																768									768
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
Public float maximum value \| $																			$ 75,000,000
Net proceeds from issuance of preferred stock \| $																																									$ 665,000
Net proceeds from issuance of common stock and warrants \| $																				$ 665,000					$ 15,500,000
Stock Issued during period, value, new issues \| $																																$ 39,453,000	$ 9,831,000		$ 9,768,000	$ 14,727,000	$ 16,820,000	$ 25,578,000	$ 36,000	$ 9,022,000
Exercise price of warrants expired without exercise \| $ / shares																								$ 261.00
Purchase price per unit under private placement \| $ / shares																								$ 29.00
Number of warrants in each unit																								0.06	1
Warrants expired without exercise																									239,200
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
Securities Subscription Agreement With Novogen
Class of Stock [Line Items]
stock issued											323,625			222,222
Purchase price common stock \| $ / shares											$ 6.18			$ 9.00
Proceeds from issuance of common stock \| $											$ 2,000,000		$ 2,000,000	$ 2,000,000		$ 2,000,000
Series B Preferred Stock
Class of Stock [Line Items]
Number of redeemable preferred stock																				742										742
Dividend receivable, percentage																				10.00%
Series A warrants
Class of Stock [Line Items]
stock issued			194,381
Exercise price \| $ / Right																																6.00									6.00
Investment warrants, exercisable period																	6 months
Warrants exercisable															108,942
Investment warrants exercise price \| $ / shares															$ 6.00		$ 9.42
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																																215,721									215,721
Common stock issued upon exercise of warrants			119,158
Gain on adjustment to fair value of derivative liabilities \| $																																	$ 14,000
Series B warrants
Class of Stock [Line Items]
stock issued															50,934
Warrants exercisable															145,256
Warrants outstanding															0
Gain on adjustment to fair value of derivative liabilities \| $																																	$ 1,125,000
Series A Preferred Stock
Class of Stock [Line Items]
Company designated and issued shares to Isoflavone																																1,000
Placement Agent
Class of Stock [Line Items]
Warrants issued																							1,035
Investment warrants exercise price \| $ / shares																							$ 180.00
Basis of exercise of warrants																							4
Fair value of warrants \| $																							$ 441,000
Novogen
Class of Stock [Line Items]
stock issued								749,056
Warrants issued								374,528
Exercise price \| $ / Right								7.14
Number of subscription right unit issued								8,988,675
Investment warrants, exercisable period								5 years
Novogen \| Series A Preferred Stock
Class of Stock [Line Items]
Common stock issued up on Conversion of preferred stock					804,500
Accredited Investors
Class of Stock [Line Items]
stock issued																							91,067
Purchase price common stock \| $ / shares																							$ 180.00
Proceed from issuance of private placement \| $																							$ 15,200,000
Number of shares each warrant to purchase of common stock																							0.67
Exercise price \| $ / Right																							216.00
Number of shares exercised under warrants																							1.67
Accredited Investors \| Securities Subscription Agreement With Novogen
Class of Stock [Line Items]
stock issued																						28,333
Proceed from issuance of private placement \| $																						$ 9,800,000
Exercise price \| $ / Right																						130.20
Shares issued to related party																						48,472
First Anniversary \| Series B Preferred Stock
Class of Stock [Line Items]
Redemption price percentage																				135.00%
Redemption principal amount \| $																				$ 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
Maximum
Class of Stock [Line Items]
Sale of shares and warrants under agreement \| $																			$ 50,000,000
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
Conversion Condition 1 \| Series A Preferred Stock
Class of Stock [Line Items]
Each share of Convertible Preferred Stock issued, converted into common stock																																804.5
Conversion Condition 2 \| Series A Preferred Stock
Class of Stock [Line Items]
Each share of Convertible Preferred Stock issued, converted into common stock																																1,609
Warrants Cancelled \| Novogen
Class of Stock [Line Items]
Warrants to purchase common stock																																										166,666
Stock Purchase Agreement
Class of Stock [Line Items]
stock issued																				107,391
Proceeds from issuance of common stock \| $																				$ 1,001,700
Receivable secured full-recourse promissory notes \| $																				$ 1,001,700										$ 1,001,700
Bearing interest rate for promissory notes																				2.00%										2.00%
Stock Purchase Agreement \| Series B Preferred Stock
Class of Stock [Line Items]
stock issued																				742
Share price \| $ / shares																				$ 1,000										$ 1,000
Net proceeds from issuance of preferred stock \| $																				$ 742,000
Rights Offering
Class of Stock [Line Items]
stock issued									971,700
Proceeds from issuance of common stock \| $									$ 4,800,000
Warrants issued									485,857
Number of shares of common stock in each unit									0.0833
Number of shares each warrant to purchase of common stock									0.04167
Exercise price \| $ / Right									7.14																							7.14									7.14
Number of subscription right unit issued									11,660,606
Investment warrants, exercisable period									5 years
Warrants outstanding																																319,150									319,150
Rights Offering \| Maximum
Class of Stock [Line Items]
Warrants to purchase common stock										17,129,361
Aggregate purchase price of subscription rights \| $										$ 7,600,000
Rights Offering \| Subscription Rights
Class of Stock [Line Items]
Purchase price \| $ / Right									0.445
Share price \| $ / shares									$ 5.34
Amended Purchase Agreement
Class of Stock [Line Items]
stock issued												111,212					139,203
Purchase price common stock \| $ / shares																	$ 8.00
Amended Purchase Agreement \| Series A warrants
Class of Stock [Line Items]
Warrants exercisable																	104,402
Amended Purchase Agreement \| Series B warrants
Class of Stock [Line Items]
Warrants exercisable																	360,922
Exercise price description																		The initial exercise price per share of the Series B warrants was equal to the lower of (i) $8.00, 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.
Amended Purchase Agreement \| Placement Agent
Class of Stock [Line Items]
Warrants issued																	35,008
Amended Purchase Agreement \| Maximum
Class of Stock [Line Items]
Price of common stock \| $ / shares																	$ 8.00	$ 8.00
Limit of issuable shares																	388,764
Amended Purchase Agreement \| Maximum \| Series A warrants
Class of Stock [Line Items]
Warrants exercisable																	375,094
Amended Purchase Agreement \| Minimum
Class of Stock [Line Items]
Price of common stock \| $ / shares																	$ 4.50
Limit of issuable shares																	108,207
At Market Issuance Sales Agreement
Class of Stock [Line Items]
stock issued																														9,200
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
Equity Distribution Agreement
Class of Stock [Line Items]
Commitment fee paid in shares																								2,060
Commitment fee paid in warrants																								10,000
Exercise price of warrants expired without exercise \| $ / shares																								$ 261.00
Private Placement
Class of Stock [Line Items]
stock issued				9,166,665																				105,488
Warrants issued				6,416,665
Aggregate Offer price of stock \| $				$ 27,500,000
Proceed from issuance of private placement \| $				$ 25,300,000
Warrants exercised																															1,890,304
Common stock issued upon exercise of warrants																															1,383,959
Warrants exercisable																						768		36,921
Investment warrants exercise price \| $ / shares																						$ 130.20
Private Placement \| Amended Purchase Agreement
Class of Stock [Line Items]
stock issued												40,950
Underwritten Registered Offering
Class of Stock [Line Items]
stock issued	2,030,000
Purchase price common stock \| $ / shares	$ 7.50
Proceeds from issuance of common stock \| $	$ 14,200,000
December 2012 private placement
Class of Stock [Line Items]
Exercise price \| $ / Right																																3.12									3.12
Warrants outstanding																																4,526,361									4,526,361
Initial Public Offering
Class of Stock [Line Items]
stock issued																												42,050
Warrants issued																												42,050

Share-based Compensation - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 29, 2013	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2010	Dec. 31, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding		635,094	143,926	99,364
Unrecognized compensation expense related to non-vested stock options		$ 1,948,000
Expected weighted average period for recognition of compensation expense		3 years 3 months 18 days
Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding					66,333
Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized						2,186,000
Options outstanding		635,094
Shares available for future grant		1,217,239
Options vested and exercisable		145,596
Weighted-average exercise price of options exercisable		$ 10.83
Share based compensation remaining contractual term		3 years 1 month 6 days
Closing price of common stock		$ 7.13
Share-based compensation arrangement by share-based payment award, options, exercises in period, total intrinsic value		$ 426,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected weighted average period for recognition of compensation expense		3 years 2 months 12 days
Fair value of RSUs on the date of grant	$ 3,452,000
RSUs grant date fair value per unit	$ 8.63
Unrecognized compensation expense related to non-vested RSUs		$ 3,039,000
Restricted Stock Units (RSUs) \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted	400,000
Number of common stock to be received for each RSUs	1
Restricted Stock Units (RSUs) \| Chief Executive Officer \| Vesting Schedule One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
One third of RSUs vesting date	Aug. 30, 2014
Restricted Stock Units (RSUs) \| Chief Executive Officer \| Vesting Schedule Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
One third of RSUs vesting date	Aug. 30, 2015
Restricted Stock Units (RSUs) \| Chief Executive Officer \| Vesting Schedule Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
One third of RSUs vesting date	Aug. 30, 2016

Summary of Company's Stock Option Activity and Related Data (Detail) - $ / shares	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Number of Shares
Beginning Balance	143,926	99,364
Granted	491,168	44,562
Forfeited/Expired
Ending balance	635,094	143,926
Weighted- Average Exercise Price
Beginning Balance	$ 11.64	$ 12.48
Granted	7.27	9.78
Forfeited/Expired
Ending balance	$ 8.26	$ 11.64

Fair Value of Stock Options Assumptions Used (Detail) - $ / shares	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Share based Compensation Arrangement Assumptions Used to Estimate Fair Values of Share Options Granted [Line Items]
Risk-free interest rate minimum	0.62%	0.62%
Risk-free interest rate maximum	1.01%	1.32%
Expected life	5 years	5 years
Expected volatility minimum	153.00%	145.00%
Expected volatility maximum	161.00%	152.00%
Dividend yield	0.00%	0.00%
Weighted-average grant date fair value	$ 6.57	$ 8.56

Exercise Prices and Weighted-average Remaining Contractual Lives for Options Outstanding (Detail)	12 Months Ended
	Jun. 30, 2013 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	635,094
Weighted Average Remaining Contractual Life (Years)	4 years 1 month 6 days
Options Exercisable	145,596
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 10.83
Range One
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	833
Exercise Price \| $ / shares	$ 37.80
Weighted Average Remaining Contractual Life (Years)	7 months 6 days
Options Exercisable	833
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 37.80
Range Two
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	18,365
Exercise Price \| $ / shares	$ 30.30
Weighted Average Remaining Contractual Life (Years)	1 year 9 months 18 days
Options Exercisable	14,549
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 30.30
Range Three
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	18,365
Exercise Price \| $ / shares	$ 11.16
Weighted Average Remaining Contractual Life (Years)	1 year 9 months 18 days
Options Exercisable	14,549
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 11.16
Range Four
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	12,243
Exercise Price \| $ / shares	$ 9.12
Weighted Average Remaining Contractual Life (Years)	2 years
Options Exercisable	9,181
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 9.12
Range Five
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	13,705
Exercise Price \| $ / shares	$ 4.62
Weighted Average Remaining Contractual Life (Years)	2 years 2 months 12 days
Options Exercisable	9,433
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 4.62
Range Six
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	6,250
Exercise Price \| $ / shares	$ 6.90
Weighted Average Remaining Contractual Life (Years)	2 years 3 months 18 days
Options Exercisable	4,033
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 6.90
Range Seven
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	29,603
Exercise Price \| $ / shares	$ 7.68
Weighted Average Remaining Contractual Life (Years)	2 years 10 months 24 days
Options Exercisable	14,805
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 7.68
Range Eight
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	23,083
Exercise Price \| $ / shares	$ 11.40
Weighted Average Remaining Contractual Life (Years)	3 years 1 month 6 days
Options Exercisable	10,581
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 11.40
Range Nine
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	332
Exercise Price \| $ / shares	$ 9.18
Weighted Average Remaining Contractual Life (Years)	3 years 2 months 12 days
Options Exercisable	146
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 9.18
Range Ten
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	16,776
Exercise Price \| $ / shares	$ 8.04
Weighted Average Remaining Contractual Life (Years)	3 years 3 months 18 days
Options Exercisable	9,280
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 8.04
Range Eleven
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	4,194
Exercise Price \| $ / shares	$ 8.04
Weighted Average Remaining Contractual Life (Years)	2 years 8 months 12 days
Options Exercisable	4,194
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 8.04
Range Twelve
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	177
Exercise Price \| $ / shares	$ 3.66
Weighted Average Remaining Contractual Life (Years)	3 years 10 months 24 days
Options Exercisable	44
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 3.66
Range Thirteen
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	5,401
Exercise Price \| $ / shares	$ 2.82
Weighted Average Remaining Contractual Life (Years)	4 years
Range Fourteen
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	67,892
Exercise Price \| $ / shares	$ 2.76
Weighted Average Remaining Contractual Life (Years)	4 years 1 month 6 days
Range Fifteen
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	15,872
Exercise Price \| $ / shares	$ 4.26
Weighted Average Remaining Contractual Life (Years)	4 years 2 months 12 days
Range Sixteen
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	3,968
Exercise Price \| $ / shares	$ 4.26
Weighted Average Remaining Contractual Life (Years)	2 years 8 months 12 days
Options Exercisable	3,968
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 4.26
Range Seventeen
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	50,000
Exercise Price \| $ / shares	$ 8.52
Weighted Average Remaining Contractual Life (Years)	4 years 4 months 24 days
Options Exercisable	50,000
Weighted Average Exercise Price of Options Exercisable \| $ / shares	$ 8.52
Range Eighteen
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	5,000
Exercise Price \| $ / shares	$ 7.05
Weighted Average Remaining Contractual Life (Years)	4 years 6 months
Range Nineteen
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	6,319
Exercise Price \| $ / shares	$ 5.19
Weighted Average Remaining Contractual Life (Years)	4 years 7 months 6 days
Range Twenty
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	2,500
Exercise Price \| $ / shares	$ 8.23
Weighted Average Remaining Contractual Life (Years)	4 years 8 months 12 days
Range Twenty One
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	194,153
Exercise Price \| $ / shares	$ 8.63
Weighted Average Remaining Contractual Life (Years)	4 years 8 months 12 days
Range Twenty Two
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	51,000
Exercise Price \| $ / shares	$ 8.74
Weighted Average Remaining Contractual Life (Years)	4 years 9 months 18 days
Range Twenty Three
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	4,063
Exercise Price \| $ / shares	$ 8.09
Weighted Average Remaining Contractual Life (Years)	4 years 10 months 24 days
Range Twenty Four
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	85,000
Exercise Price \| $ / shares	$ 7.25
Weighted Average Remaining Contractual Life (Years)	5 years

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended					12 Months Ended
	Jan. 03, 2013 ft²	Sep. 28, 2012	Aug. 22, 2012 USD ($) shares	Aug. 07, 2012 USD ($)	Jul. 31, 2010 USD ($) ft²	Jun. 30, 2013 USD ($) ft²	Jun. 30, 2012 USD ($)
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Lease arrangement rent area, square feet \| ft²					3,700	6,200
Lease arrangement period					33 months
Future minimum payment next year						$ 188,000
Future minimum payment second year						213,000
Issuance of common stock to acquire intellectual property and technology rights			$ 500,000	$ 500,000
Issuance of common stock to purchase asset, shares \| shares			195,756
First milestone payment				200,000
Common stock value
Percentage of Purchase Requirement		100.00%
License and supply agreement notice period		90 days
Phase Three Clinical Trial
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Common stock value				500,000
Minimum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Lease rental rate					$ 10,109	17,014
Maximum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Lease rental rate					$ 10,734	$ 18,252
Future aggregate milestone payments				$ 75,200,000
First Lease Amendment
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Lease expiration month and year	2015-06
Expansion space of lease arrangement rent area, square feet \| ft²	2,500

Segment Information - Additional Information (Detail)	12 Months Ended
Segment Information - Additional Information (Detail)	Jun. 30, 2013 Segment
Segment Reporting Information [Line Items]
Number of operating segments	1
Number of geographic segments	2

Pre-Tax Loss Jurisdictions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Reconciliation of Statutory Federal Tax Rate [Line Items]
Domestic	$ (11,185)	$ (8,547)
Foreign		1,024
Pre-tax loss	$ (11,185)	$ (7,523)

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		151 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013
Reconciliation of Statutory Federal Tax Rate [Line Items]
Tax benefit at U.S. statutory rates	$ 3,803	$ 2,557
State tax	652	474
Australian tax		41
Expiration of foreign tax losses		(28,202)
(Increase)/decrease in valuation allowance	(4,456)	25,129
Income tax expense	$ (1)	$ (1)	$ (11)
Tax benefit at U.S. statutory rates	34.00%	34.00%
State tax	6.00%	6.00%
Australian tax	0.00%	1.00%
Expiration of foreign tax losses	0.00%	(375.00%)
(Increase)/ decrease in valuation allowance	(40.00%)	334.00%
Effective Income Tax Rate, Continuing Operations, Total	0.00%	0.00%

Comprised Deferred Tax Liabilities and Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2013	Jun. 30, 2012
Deferred tax liabilities:
Change in accounting method adjustments	$ (1,607)	$ (2,411)
Total deferred tax liabilities	(1,607)	(2,411)
Deferred tax assets:
Tax carried forward losses	2,463	4,153
Share-based payments	1,057	458
Consultant and other accruals	29	27
Fixed and intangible assets	12,315	7,656
Compensation accruals	240	161
Capital loss carryforward	26,382	26,382
Total deferred tax assets	42,486	38,837
Valuation allowance for deferred tax assets	(40,879)	(36,426)
Net deferred tax assets and liabilities

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Income Taxes [Line Items]
Federal net operating loss carry forwards	$ 6,531,000
State net operating loss carry forwards	$ 4,166,000
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	2029

Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended		151 Months Ended
	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013
Quarterly Financial Information [Line Items]
Net loss arising during development stage	$ (3,215)	$ (2,753)	$ (2,754)	$ (2,464)	$ (2,101)	$ (2,269)	$ (1,541)	$ (1,612)	$ (11,186)	$ (7,523)	$ (96,297)
Basic and diluted loss per share	$ (0.19)	$ (0.18)	$ (0.50)	$ (0.70)	$ (0.71)	$ (0.93)	$ (0.78)	$ (1.01)	$ (1.10)	$ (3.35)

Label	Element	Value
Common Stock [Member]
Shares Outstanding	us-gaap_SharesOutstanding	825,000
Stock Issued During Period Shares New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	825,000