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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Sep. 30, 2012	Nov. 07, 2012
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2012
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1
Trading Symbol	PSDV
Entity Registrant Name	PSIVIDA CORP.
Entity Central Index Key	0001314102
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		23,297,011

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Current assets:
Cash and cash equivalents	$ 8,388	$ 4,625
Marketable securities	9,258	9,946
Accounts and other receivables	938	967
Prepaid expenses and other current assets	316	421
Total current assets	18,900	15,959
Property and equipment, net	289	335
Intangible assets, net	4,078	4,226
Other assets	72	77
Total assets	23,339	20,597
Current liabilities:
Accounts payable	266	394
Accrued expenses	801	608
Deferred revenue	2,395	2,176
Total current liabilities	3,462	3,178
Deferred revenue	3,714	3,783
Total liabilities	7,176	6,961
Stockholders' equity:
Preferred stock, $.001 par value, 5,000,000 shares authorized, none issued and outstanding
Common stock, $.001 par value, 60,000,000 shares authorized, 23,297,011 and 20,802,592 shares issued and outstanding at September 30, 2012 and June 30, 2012, respectively	23	21
Additional paid-in capital	269,440	264,431
Accumulated deficit	(254,309)	(251,758)
Accumulated other comprehensive income	1,009	942
Total stockholders' equity	16,163	13,636
Total liabilities and stockholders' equity	$ 23,339	$ 20,597

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2012	Jun. 30, 2012
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	23,297,011	20,802,592
Common stock, shares outstanding	23,297,011	20,802,592

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Revenues:
Collaborative research and development	$ 169	$ 1,461
Royalty income	384	198
Total revenues	553	1,659
Operating expenses:
Research and development	1,523	2,129
General and administrative	1,620	2,061
Total operating expenses	3,143	4,190
Loss from operations	(2,590)	(2,531)
Other income (expense):
Change in fair value of derivatives		42
Interest income	7	9
Other expense, net	(1)	(2)
Total other income	6	49
Loss before income taxes	(2,584)	(2,482)
Income tax benefit	33	55
Net loss	$ (2,551)	$ (2,427)
Net loss per common share - basic and diluted	$ (0.11)	$ (0.12)
Weighted average common shares - basic and diluted	22,294	20,757
Net loss	$ (2,551)	$ (2,427)
Other comprehensive income (loss):
Foreign currency translation adjustments	59	(363)
Net unrealized gain (loss) on marketable securities	8	(2)
Other comprehensive income (loss)	67	(365)
Comprehensive loss	$ (2,484)	$ (2,792)

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS EQUITY - 3 months ended Sep. 30, 2012 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income
Balance at Jun. 30, 2012	$ 13,636	$ 21	$ 264,431	$ (251,758)	$ 942
Balance, shares at Jun. 30, 2012	20,802,592	20,802,592
Net loss	$ (2,551)			(2,551)
Other comprehensive income	(2,484)
Issuance of stock, net of issue costs	4,668	$ 2	4,666
Issuance of stock, shares		2,494,419
Stock-based compensation	343		343
Balance at Sep. 30, 2012	$ 16,163	$ 23	$ 269,440	$ (254,309)	$ 1,009
Balance, shares at Sep. 30, 2012	23,297,011	23,297,011

- Definition

This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".

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- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

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- Definition

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

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Cash flows from operating activities:
Net loss	$ (2,551)	$ (2,427)
Adjustments to reconcile net loss to cash flows from operating activities:
Amortization of intangible assets	193	833
Depreciation of property and equipment	55	24
Change in fair value of derivatives		(42)
Stock-based compensation expense	343	477
Amortization of bond premium on marketable securities	44	85
Deferred tax benefit		(13)
Changes in operating assets and liabilities:
Accounts receivable and other current assets	147	206
Accounts payable and accrued expenses	(2)	(373)
Deferred revenue	150	(1,430)
Net cash used in operating activities	(1,621)	(2,660)
Cash flows from investing activities:
Purchases of marketable securities	(2,799)	(3,731)
Maturities of marketable securities	3,450	3,400
Purchases of property and equipment	(4)	(221)
Net cash provided by (used in) investing activities	647	(552)
Cash flows from financing activities:
Proceeds from issuance of stock, net of issuance costs	4,735
Exercise of stock options		114
Net cash provided by financing activities	4,735	114
Effect of foreign exchange rate changes on cash and cash equivalents	2	(3)
Net increase (decrease) in cash and cash equivalents	3,763	(3,101)
Cash and cash equivalents at beginning of period	4,625	12,912
Cash and cash equivalents at end of period	8,388	9,811
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment		$ 88
Stock issuance costs	$ 67

Operations and Basis of Presentation

3 Months Ended

Sep. 30, 2012

Operations and Basis of Presentation

1. Operations and Basis of Presentation

The accompanying condensed consolidated financial statements of pSivida Corp. and subsidiaries (the “Company”) as of September 30, 2012 and for the three months ended September 30, 2012 and 2011 are unaudited. Certain information in the footnote disclosures of these financial statements has been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and footnotes included in its Annual Report on Form 10-K for the fiscal year ended June 30, 2012. In the opinion of management, these statements have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended June 30, 2012, and include all adjustments that are necessary for the fair presentation of the Company’s financial position, results of operations, comprehensive loss and cash flows for the periods indicated. The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make assumptions and estimates that affect, among other things, (i) reported amounts of assets and liabilities; (ii) disclosure of contingent assets and liabilities at the date of the consolidated financial statements; and (iii) reported amounts of revenues and expenses during the reporting period. The results of operations for the three months ended September 30, 2012 are not necessarily indicative of the results that may be expected for the entire fiscal year or any future period.

The Company develops tiny, sustained release, drug delivery products designed to deliver drug at a controlled and steady rate for months or years. The Company is focused on the treatment of chronic eye diseases utilizing its core technology systems, Durasert™ and BioSilicon™. The Company currently has three approved products and two principal product candidates under development, which represent successive generations of the Durasert technology platform.

The Company’s most recently approved product is an injectable, sustained-release micro-insert for the treatment of vision impairment associated with chronic diabetic macular edema (“DME”) considered insufficiently responsive to available therapies. This product has received marketing authorization in the United Kingdom (“U.K.”), Austria, France, Germany and Portugal, and has been recommended for approval in Italy and Spain. The product is being developed by the Company’s licensee, Alimera Sciences, Inc. (“Alimera”), and will be marketed under the name ILUVIEN^®. Alimera has announced its intention to proceed with the direct commercial launch of ILUVIEN in three European countries in 2013, with Germany expected in the first quarter, the U.K. in the second quarter and France in the third quarter, and has completed a $40.0 million equity financing to provide additional capital to launch ILUVIEN in those three countries. Alimera also indicated its intention to resubmit its New Drug Application (“NDA”) for ILUVIEN for DME to the U.S. Food and Drug Administration (“FDA”) during the first quarter of 2013, following receipt of a November 2011 Complete Response Letter (“2011 CRL”). Based on a June 2012 meeting with the FDA, Alimera reported that it intends to use data from its two previously completed pivotal Phase III clinical trials (the “FAME™ Study”) and to focus on the population of patients with chronic DME considered insufficiently responsive to available therapies, the same group for which regulatory approval was granted in various EU countries.

The Company plans to study the same micro-insert used in ILUVIEN for the treatment of chronic, non-infectious uveitis affecting the posterior segment of the eye (“posterior uveitis”). The FDA has cleared the Company’s Investigational New Drug (“IND”) application, permitting it to move directly to two Phase III clinical trials for this indication, involving a total of approximately 300 patients, without the necessity of conducting Phase I or Phase II trials.

The Company is developing a bioerodible, injectable micro-insert delivering latanoprost (the “Latanoprost Product”) to treat glaucoma and ocular hypertension. An investigator-sponsored Phase I/II dose-escalation study is ongoing to assess the safety and efficacy of this micro-insert in patients with elevated intraocular pressure. The Company granted Pfizer Inc. (“Pfizer”) an exclusive option, under various circumstances, to license the development and commercialization of the Latanoprost Product worldwide.

The Company’s two FDA-approved products, Retisert^® for the treatment of posterior uveitis and Vitrasert^® for the treatment of AIDS-related cytomegalovirus retinitis, are surgically implanted. They are both licensed to Bausch & Lomb Incorporated (“Bausch & Lomb”).

BioSilicon, the Company’s second key technology platform targeted for sustained drug delivery, utilizes fully-erodible, nanostructured, porous material. The Company’s primary focus is on Tethadur™, which utilizes BioSilicon to deliver large biologic molecules, including peptides and proteins, on a sustained basis. The sizes of the pores in the BioSilicon material are manufactured using nanotechnology to accommodate specific protein, peptide or antibody molecules. These molecules are then released and the material erodes slowly over time. The BioSilicon technology can also be designed to deliver smaller molecules.

The Company is subject to risks, including, but not limited to, the ability of Alimera to successfully complete pricing and reimbursement discussions and to successfully finance and execute the direct commercialization of, and achieve market acceptance of, ILUVIEN for DME in the applicable EU countries; the ability of Alimera to achieve FDA approval of ILUVIEN for DME following its planned NDA resubmission, and if so, to successfully commercialize, and achieve market acceptance of, the product in the U.S.; the Company’s ability, and that of its collaboration partners, to obtain adequate financing to fund its and their respective operations through collaborations, sales of securities or otherwise, to successfully advance research, pre-clinical and clinical development of, and obtain regulatory approvals for, product candidates utilizing the Company’s technologies and to successfully commercialize them, to protect proprietary technologies, to comply with FDA and other governmental regulations and approval requirements and to execute on business strategies; competitive products and new disease treatments; and dependence on key personnel.

The Company has a history of operating losses and has financed its operations in recent years primarily from license fees, research and development funding and contingent cash payments from its collaboration partners, and from sales of equity securities. The Company believes that its cash, cash equivalents and marketable securities of $17.6 million at September 30, 2012 should enable the Company to maintain its current and planned operations through calendar year 2013, including plans for Phase III clinical trials of the posterior uveitis micro-insert. The Company’s funding of its operations beyond 2013 will depend on the amount and timing of cash receipts pursuant to its existing collaboration agreements with Alimera, Pfizer and Bausch & Lomb and any potential future collaborations, as well as any possible future financing transactions.

References to “$” are to U.S. dollars and references to “A$” are to Australian dollars.

New accounting pronouncements are issued periodically by the Financial Accounting Standards Board (“FASB”) and are adopted by the Company as of the specified effective dates. Unless otherwise disclosed below, the Company believes that the impact of recently issued pronouncements will not have a material impact on the Company’s financial position, results of operations and cash flows or do not apply to the Company’s operations.

In June 2011, the FASB issued ASU 2011-5 Comprehensive Income (Topic 220) – Presentation of Comprehensive Income, which provides new guidance on the presentation of comprehensive income. This guidance requires a company to present components of net income (loss) and other comprehensive income in one continuous statement or in two separate, but consecutive, statements. There are no changes to the components that are recognized in net income (loss) or other comprehensive income under current GAAP. The Company adopted this standard for the quarter ended September 30, 2012 and has presented the required information in one continuous statement of operations and comprehensive loss on a comparative basis. Other than a change in presentation, the adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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+ Details

License and Collaboration Agreements

3 Months Ended

Sep. 30, 2012

License and Collaboration Agreements

2. License and Collaboration Agreements

Alimera Sciences, Inc.

In February 2005, the Company granted Alimera an exclusive worldwide license to manufacture, develop, market and sell ILUVIEN for the treatment and prevention of eye diseases in humans other than uveitis. Under the collaboration agreement, the Company and Alimera agreed to collaborate on the development of ILUVIEN for DME and to share the development expenses equally.

In connection with a March 2008 amendment (as amended, the “Alimera Agreement”), the Company received $12.0 million in cash and a $15.0 million conditional, interest-bearing note, Alimera cancelled $5.7 million of accrued development cost liabilities then owed by the Company, Alimera agreed that it would pay a $25.0 million milestone payment upon FDA approval of ILUVIEN for DME and would assume all financial responsibility for the development of licensed products under the Alimera Agreement, which had previously been shared equally. In exchange, the Company decreased its share in any future net profits, as defined, on sales of ILUVIEN by Alimera from 50% to 20%, measured quarterly on a country-by-country basis, subject to an offset of 20% of pre-profitability net losses, as defined, previously incurred by Alimera on a country-by-country basis. In the event that Alimera sublicenses commercialization, the Company is entitled to 20% of royalties and 33% of non-royalty consideration received by Alimera, less certain permitted deductions.

The Company considered the Alimera Agreement to be a revenue arrangement with multiple deliverables and, having determined that its deliverables did not have stand-alone value, concluded that the deliverables represented a single unit of accounting. The terms of the Alimera Agreement defined the end period of the Company’s performance obligations as December 31, 2009 and, accordingly, the total initial consideration of $18.3 million was deferred and recognized as revenue on a straight-line basis over the 21.5 month performance period ended December 31, 2009. Additional cash consideration received from Alimera during the performance period, which consisted of conditional note interest payments and development cost reimbursements, was recognized as revenue during the performance period using the cumulative catch-up method. As a conditional payment obligation, the $15.0 million Alimera note was not recorded as an asset but instead treated as contingent future revenue consideration. Amounts received from Alimera subsequent to December 31, 2009, including payment in full of the conditional note in April 2010, were, and any future milestone and profit share payments will be, recognized as revenue upon receipt or at such earlier date, if applicable, on which any such amount is both fixed and determinable and reasonably assured of collectibility.

Revenue related to the Alimera Agreement totaled $19,000 and $31,000 for the three months ended September 30, 2012 and 2011, respectively.

Pfizer

In April 2007, the Company entered into a worldwide Collaborative Research and License Agreement with Pfizer (the “Original Pfizer Agreement”) for the use of certain of the Company’s technologies in ophthalmic applications that were not licensed to others. Commencing in 2008, Pfizer paid the Company $500,000 quarterly in consideration of the Company’s costs in performing research under the agreement.

In June 2011, the Company and Pfizer entered into an Amended and Restated Collaborative Research and License Agreement (the “Restated Pfizer Agreement”) to focus solely on the development of the Latanoprost Product, a sustained-release bioerodible micro-insert designed to deliver latanoprost for human ophthalmic disease or conditions other than uveitis. The Original Pfizer Agreement was effectively terminated, including the cessation of Pfizer’s $500,000 quarterly research funding. Pfizer made an upfront payment of $2.3 million and the Company assumed Pfizer’s agreement with respect to an investigator-sponsored Phase I/II dose-escalation study to assess the safety and efficacy of this insert for patients with ocular hypertension and glaucoma. The Company agreed to use commercially reasonable efforts to fund development of the Latanoprost Product, with technical assistance from Pfizer, for at least one year and, thereafter, at the Company’s option, through completion of Phase II clinical trials, designated as Proof-of-Concept (“POC”). Within 90 days following receipt of the Company’s final report demonstrating POC, Pfizer may exercise its option for an exclusive, worldwide license to develop and commercialize the Latanoprost Product in return for a $20.0 million payment, double-digit sales-based royalties and additional development, regulatory and sales performance milestone payments of up to $146.5 million. If the Company elects to cease development of the Latanoprost Product after one year, but prior to completion of Phase II clinical trials, Pfizer would then have the right to exercise an option for an exclusive worldwide license to develop and commercialize the Latanoprost Product upon payment of a lesser option fee, with comparable reductions in future sales-based royalties and other designated milestones. If Pfizer does not exercise its option, the Restated Pfizer Agreement will automatically terminate, provided, however, that the Company will retain the right to develop and commercialize the Latanoprost Product on its own or with a partner.

Based upon the significant changes to the terms of the Original Pfizer Agreement, which included (i) changes in the consideration payable by Pfizer; (ii) changes in the deliverables; and (iii) changes in the research program, which now is solely related to the Latanoprost Product, the Company considered the Restated Pfizer Agreement a material modification and applied the applicable accounting guidance to this arrangement.

The Company’s deliverables under the Restated Pfizer Agreement include conducting the research and development program for the Latanoprost Product through completion of Phase II clinical trials (the “R&D program”) and participation on a Joint Steering Committee (“JSC”). Having determined that the JSC does not have standalone value from the R&D program, the Company combined these deliverables into a single unit of accounting. The performance period is the expected period over which the services of the combined unit are performed, which the Company currently expects will extend through approximately June 2015.

The total arrangement consideration of the Restated Pfizer Agreement totaled $10.05 million, which consisted of $7.75 million of deferred revenue on the Company’s balance sheet at the effective date plus the $2.3 million upfront payment. The difference between the total arrangement consideration and the estimated selling price of the combined deliverables, or $3.3 million, was recognized as collaborative research and development revenue in the quarter ended June 30, 2011, the period of the modification. To determine the estimated selling price, the Company applied an estimated margin to its cost projections for the combined deliverable. The estimated selling price of $6.7 million is being recognized as collaborative research and development revenue over the expected performance period of approximately 4 years using the proportional performance method. The Company recorded revenue of $150,000 for the three months ended September 30, 2012 and $288,000 for the three months ended September 30, 2011. At September 30, 2012 and June 30, 2012, the Company recorded deferred revenue of $5.8 million and $6.0 million, respectively, classified between current and non-current deferred revenue. Costs associated with conducting the R&D program are reflected in operating expenses in the period in which they are incurred.

If any subsequent payments are received from Pfizer, including option exercise, milestone and sales-based royalty consideration, which would occur after completion of the Company’s performance period under the Restated Pfizer Agreement, such payments would be recognized as revenue when all the revenue criteria are met.

Intrinsiq

In January 2008, the Company and Intrinsiq Materials Cayman Limited (“Intrinsiq”) entered into an agreement pursuant to which Intrinsiq acquired an exclusive field-of-use license to develop and commercialize nutraceutical and food science applications of BioSilicon, and certain related assets, for $1.2 million. Provided the license agreement remained in effect, Intrinsiq was obligated to pay the Company aggregate minimum royalties of $3.55 million through April 2014, of which the first $450,000 was paid in July 2009.

The Company determined the performance period of the license arrangement to be 17 years, coinciding with the last to expire of the patents licensed to Intrinsiq, and recognized collaborative research and development revenue using the cumulative catch-up method.

In July 2011, the Company consummated an asset purchase agreement, in which it acquired porous BioSilicon-related capital equipment assets of Intrinsiq for $223,000, and employed four former Intrinsiq employees. The fair value of the tangible assets acquired approximated the total acquisition consideration. Coincident with the transaction, Intrinsiq terminated the agreements underlying its original 2008 license. The license termination resulted in the recognition of collaborative research and development revenue of $1.1 million in the three months ended September 30, 2011, representing the total Intrinsiq deferred revenue balance at June 30, 2011.

Bausch & Lomb

The Company’s Retisert and Vitrasert products have been commercialized under a licensing and development agreement with Bausch & Lomb. Pursuant to the agreement as amended, Bausch & Lomb has a worldwide exclusive license to make and sell Vitrasert and the Company’s first-generation products (as defined in the agreement, including Retisert) in return for royalties based on sales.

Royalty income totaled $384,000 and $198,000 for the three months ended September 30, 2012 and 2011, respectively. Accounts receivable from Bausch & Lomb totaled $384,000 and $442,000 at September 30, 2012 and June 30, 2012, respectively.

Intangible Assets

3 Months Ended

Sep. 30, 2012

Intangible Assets

3. Intangible Assets

The reconciliation of intangible assets for the three months ended September 30, 2012 and for the year ended June 30, 2012 is as follows:


	Three Months Ended			Year Ended
	September 30, 2012			June 30, 2012
	(In thousands)
Patented technologies
Gross carrying amount at beginning of period	$	39,556		$	55,422
Asset impairment write-down		—			(14,830	)
Foreign currency translation adjustments		829			(1,036	)

Gross carrying amount at end of period		40,385			39,556

Accumulated amortization at beginning of period		(35,330	)		(33,858	)
Amortization expense		(193	)		(2,037	)
Foreign currency translation adjustments		(784	)		565

Accumulated amortization at end of period		(36,307	)		(35,330	)

Net book value at end of period	$	4,078		$	4,226

The Company amortizes its intangible assets with finite lives on a straight-line basis over their respective estimated useful lives. Amortization of intangible assets totaled $193,000 and $833,000 for the three months ended September 30, 2012 and 2011, respectively. The carrying value of intangible assets at September 30, 2012 of $4.1 million will be amortized on a straight-line basis over the remaining estimated useful life of 5.25 years, or approximately $780,000 per year. Of the total net book value at September 30, 2012, approximately $2.8 million was attributable to the Durasert technology and $1.3 million was attributable to the BioSilicon technology.

In November 2011, the FDA issued the 2011 CRL and did not grant marketing approval for ILUVIEN for DME, and, as a result, the Company did not receive a $25.0 million milestone payment from Alimera and Alimera was unable to commence marketing ILUVIEN for DME in the U.S. Following the public announcement of the 2011 CRL, there was a significant decline in the Company’s share price, resulting in a decrease of the Company’s market capitalization from $82.0 million to $23.1 million at December 31, 2011. The combination of the 2011 CRL and the decline in the Company’s share price were determined to be impairment indicators of the Company’s finite-lived intangible assets, which resulted in a $14.8 million impairment write-down for the quarter ended December 31, 2011.

Marketable Securities

3 Months Ended

Sep. 30, 2012

Marketable Securities

4. Marketable Securities

The amortized cost, unrealized (loss) gain and fair value of the Company’s available-for-sale marketable securities at September 30, 2012 and June 30, 2012 were as follows:


	September 30, 2012
	Amortized Cost		Unrealized (Loss) Gain			Fair Value
	(In thousands)
Corporate bonds	$	6,061	$	(1	)	$	6,060
Commercial paper		2,697		1			2,698
Certificates of deposit		500		—			500

Total marketable securities	$	9,258	$	—		$	9,258


	June 30, 2012
	Amortized Cost		Unrealized Loss			Fair Value
	(In thousands)
Corporate bonds	$	5,958	$	(8	)	$	5,950
Commercial paper		3,046		—			3,046
Certificates of deposit		950		—			950

Total marketable securities	$	9,954	$	(8	)	$	9,946

During the three months ended September 30, 2012, approximately $2.8 million of marketable securities were purchased and $3.5 million matured. At September 30, 2012, the marketable securities had maturities ranging between zero and eight months, with a weighted average maturity of 3.2 months.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-Glossary Debt Security
-URI http://asc.fasb.org/extlink&oid=6509901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Glossary Equity Security
-URI http://asc.fasb.org/extlink&oid=6511694

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 3, 19, 20, 21, 22, 137
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements

3 Months Ended

Sep. 30, 2012

Fair Value Measurements

5. Fair Value Measurements

The Company accounts for certain assets and liabilities at fair value. The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. The Company categorizes each of its fair value measurements in one of these three levels based on the lowest level input that is significant to the fair value measurement in its entirety. These levels are:

•

Level 1—Inputs are quoted prices in active markets that are accessible at the measurement date for identical assets and liabilities.

•

Level 2—Inputs are directly or indirectly observable in the marketplace, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities with insufficient volume or infrequent transaction (less active markets).

•

Level 3—Inputs are unobservable estimates that are supported by little or no market activity and require the Company to develop its own assumptions about how market participants would price the assets or liabilities.

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents and marketable securities. At September 30, 2012 and June 30, 2012, substantially all of the Company’s interest-bearing cash equivalent balances were concentrated in one institutional money market fund that has investments consisting primarily of certificates of deposit, commercial paper, time deposits, U.S. government agencies, treasury bills and treasury repurchase agreements. Generally, these deposits may be redeemed upon demand and, therefore, bear minimal risk.

The Company’s cash equivalents and marketable securities are classified within Level 1 or Level 2 on the basis of valuations using quoted market prices or alternative pricing sources and models utilizing market observable inputs, respectively. Certain of the Company’s corporate debt securities were valued based on quoted prices for the specific securities in an active market and were therefore classified as Level 1. The remaining marketable securities have been valued on the basis of valuations provided by third-party pricing services, as derived from such services’ pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and ask prices, broker/dealer quotations, prices or yields of securities with similar characteristics, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security, and have been classified as Level 2.

The following table summarizes the Company’s assets and liabilities carried at fair value measured on a recurring basis at September 30, 2012 and June 30, 2012 by valuation hierarchy:


	September 30, 2012
	Total carrying value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Assets:
Cash equivalents	$	7,187	$	7,036	$	151	$	—
Marketable securities
Corporate bonds		6,060		4,276		1,784		—
Commercial paper		2,698		—		2,698		—
Certificates of deposit		500		—		500		—

	$	16,445	$	11,312	$	5,133	$	—


	June 30, 2012
	Total carrying value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Assets:
Cash equivalents	$	4,292	$	4,042	$	250	$	—
Marketable securities
Corporate bonds		5,950		3,684		2,266		—
Commercial paper		3,046		—		3,046		—
Certificates of deposit		950		—		950		—

	$	14,238	$	7,726	$	6,512	$	—

The Company’s derivative liabilities, related to investor warrants that were denominated in Australian dollars, were historically classified as Level 3 and were valued using the Black-Scholes model. The last of these warrants expired in July 2012 and the derivative liability balance was zero at September 30, 2012 and June 30, 2012.

The reconciliation of the Company’s liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3) is as follows:


	Three Months Ended September 30,
	2012		2011
	(In thousands)
Balance at beginning of period	$	—	$	170
Change in fair value of derivative - other income		—		42

Balance at end of period	$	—	$	128

- Definition

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

+ References

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

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

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

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

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

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

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

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

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

+ Details

Stockholders' Equity

3 Months Ended

Sep. 30, 2012

Stockholders' Equity

6. Stockholders’ Equity

In August 2012, the Company completed a registered direct offering of 2,494,419 shares of its common stock and warrants to purchase 623,605 shares of its common stock to institutional investors for gross proceeds of $5.4 million. The shares and warrants were sold in units, each unit consisting of one share together with 0.25 of one warrant, at a negotiated price of $2.15 per unit. Each whole warrant has an exercise price of $2.50 per share and a five-year term, provided, however, that the warrants are not exercisable for a period of six months from date of issuance. Placement agent fees and other share issue costs totaled $694,000.

Warrants to Purchase Common Shares

The following table provides a reconciliation of all US$ warrants for the three months ended September 30, 2012 and 2011:


	Three Months Ended September 30,
	2012					2011
	Number of Warrants			Weighted Average Exercise Price		Number of Warrants			Weighted Average Exercise Price

Balance at beginning of period		2,064,710		$	6.17		7,614,748		$	7.35
Issued		623,605			2.50		—			—
Expired		(1,512,210	)		6.60		(2,281,250	)		7.50

Balance at end of period		1,176,105		$	3.67		5,333,498		$	7.29

Exercisable at end of period		552,500		$	5.00		5,333,498		$	7.29

At September 30, 2012, the remaining term of outstanding US$ warrants ranged from 3.3 to 4.9 years, representing a weighted average period of 4.1 years.

At September 30, 2011, the Company had 205,479 warrants outstanding denominated in A$ with an exercise price of A$7.68 ($7.52). These warrants expired unexercised in July 2012. During the three months ended September 30, 2012 and 2011, there were no A$-denominated warrants issued or exercised.

2008 Incentive Plan

The Company’s 2008 Incentive Plan (the “2008 Plan”) provides for the issuance of a maximum of 4,841,255 shares of common stock in satisfaction of stock-based awards to directors, executives, employees and consultants.

The following table provides a reconciliation of stock option activity under the 2008 Plan for the three months ended September 30, 2012:


	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
					(in years)		(in thousands)
Outstanding at July 1, 2012		3,053,355	$	3.10
Granted		307,760		2.14

Outstanding at September 30, 2012		3,361,115	$	3.01		7.43	$	310

Outstanding at September 30, 2012 - vested or unvested and expected to vest		3,308,868	$	3.00		7.42	$	310

Exercisable at September 30, 2012		2,119,860	$	2.78		6.86	$	275

Option grants for the three months ended September 30, 2012 consisted of 307,760 options with ratable annual vesting over 4 years and a grant date fair value of $1.65 per share. A total of 451,826 options vested during the three months ended September 30, 2012. All option grants have a 10-year contractual life.

In determining the grant date fair value of options, the Company uses the Black-Scholes option pricing model. The Company calculated the Black-Scholes value of employee options awarded during the three months ended September 30, 2012 based on the following key assumptions:


Option life (in years)	6.25
Stock volatility	95	%
Risk-free interest rate	0.83	%
Expected dividends	0	%

Employee Share Option Plan

The Company’s Employee Share Option Plan (the “Plan”) provided for the issuance of non-qualified stock options to eligible employees and directors. As of June 30, 2008, no further options could be granted under the Plan. Options outstanding under the Plan had vesting periods ranging from immediate vesting to 3-year graded vesting, a contractual life of five years and are denominated in A$.

During the three months ended September 30, 2012, the last remaining 112,500 options under the Plan expired unexercised.

Stock-Based Compensation Expense

The Company’s statements of operations included total compensation expense from stock-based payment awards for the three months ended September 30, 2012 and 2011, as follows:


	Three Months Ended September 30,
	2012		2011
	(In thousands)
Compensation expense included in:
Research and development	$	179	$	147
General and administrative		164		330

	$	343	$	477

At September 30, 2012, there was approximately $1.3 million of unrecognized compensation expense related to unvested options under the 2008 Plan, which is expected to be recognized as expense over a weighted average period of 1.9 years.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-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=6881521&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=6228006&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=6959260&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=6959260&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 AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

Reference 18: 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 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Income Taxes

3 Months Ended

Sep. 30, 2012

Income Taxes

7. Income Taxes

The Company recognizes deferred tax assets and liabilities for estimated future tax consequences of events that have been recognized in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is established if, based on management’s review of both positive and negative evidence, it is more likely than not that all or a portion of the deferred tax assets will not be realized. Because of its historical losses from operations, the Company established a valuation allowance for the net deferred tax assets. The Company recorded an income tax benefit of $33,000 and $55,000 for the three months ended September 30, 2012 and 2011, respectively. These income tax benefits primarily related to earned foreign research and development tax credits.

For the three months ended September 30, 2012 and 2011, the Company had no significant unrecognized tax benefits. At September 30, 2012 and June 30, 2012, the Company had no accrued penalties or interest related to uncertain tax positions.

- Definition

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

+ References

+ Details

Loss Per Share

3 Months Ended

Sep. 30, 2012

Loss Per Share

8. Loss Per Share

Basic net loss per share was computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share was computed by dividing the net loss by the sum of (i) the weighted average number of common shares outstanding and (ii) the weighted average number of common shares that would be issued on the exercise of all dilutive securities outstanding. Potentially dilutive shares were not included in the calculation of diluted net loss per share for each of the three months ended September 30, 2012 and 2011 as their inclusion would be anti-dilutive.

Potentially dilutive shares at September 30, 2012 and 2011 were as follows:


	September 30,
	2012		2011
Options		3,361,115		2,979,876
Warrants		1,176,105		5,538,977

		4,537,220		8,518,853

Intangible Assets (Tables)

3 Months Ended

Sep. 30, 2012

Reconciliation of Intangible Assets

The reconciliation of intangible assets for the three months ended September 30, 2012 and for the year ended June 30, 2012 is as follows:


	Three Months Ended			Year Ended
	September 30, 2012			June 30, 2012
	(In thousands)
Patented technologies
Gross carrying amount at beginning of period	$	39,556		$	55,422
Asset impairment write-down		—			(14,830	)
Foreign currency translation adjustments		829			(1,036	)

Gross carrying amount at end of period		40,385			39,556

Accumulated amortization at beginning of period		(35,330	)		(33,858	)
Amortization expense		(193	)		(2,037	)
Foreign currency translation adjustments		(784	)		565

Accumulated amortization at end of period		(36,307	)		(35,330	)

Net book value at end of period	$	4,078		$	4,226

Marketable Securities (Tables)

3 Months Ended

Sep. 30, 2012

Schedule of Amortized Cost, Unrealized (Loss) Gain and Fair Value of Available-for-Sale Marketable Securities

The amortized cost, unrealized (loss) gain and fair value of the Company’s available-for-sale marketable securities at September 30, 2012 and June 30, 2012 were as follows:


	September 30, 2012
	Amortized Cost		Unrealized (Loss) Gain			Fair Value
	(In thousands)
Corporate bonds	$	6,061	$	(1	)	$	6,060
Commercial paper		2,697		1			2,698
Certificates of deposit		500		—			500

Total marketable securities	$	9,258	$	—		$	9,258


	June 30, 2012
	Amortized Cost		Unrealized Loss			Fair Value
	(In thousands)
Corporate bonds	$	5,958	$	(8	)	$	5,950
Commercial paper		3,046		—			3,046
Certificates of deposit		950		—			950

Total marketable securities	$	9,954	$	(8	)	$	9,946

Fair Value Measurements (Tables)

3 Months Ended

Sep. 30, 2012

Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

The following table summarizes the Company’s assets and liabilities carried at fair value measured on a recurring basis at September 30, 2012 and June 30, 2012 by valuation hierarchy:


	September 30, 2012
	Total carrying value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Assets:
Cash equivalents	$	7,187	$	7,036	$	151	$	—
Marketable securities
Corporate bonds		6,060		4,276		1,784		—
Commercial paper		2,698		—		2,698		—
Certificates of deposit		500		—		500		—

	$	16,445	$	11,312	$	5,133	$	—


	June 30, 2012
	Total carrying value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Assets:
Cash equivalents	$	4,292	$	4,042	$	250	$	—
Marketable securities
Corporate bonds		5,950		3,684		2,266		—
Commercial paper		3,046		—		3,046		—
Certificates of deposit		950		—		950		—

	$	14,238	$	7,726	$	6,512	$	—

Liabilities Measured at Fair Value on Recurring Basis

The reconciliation of the Company’s liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3) is as follows:


	Three Months Ended September 30,
	2012		2011
	(In thousands)
Balance at beginning of period	$	—	$	170
Change in fair value of derivative - other income		—		42

Balance at end of period	$	—	$	128

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References + Details

Stockholders' Equity (Tables)

3 Months Ended

Sep. 30, 2012

Warrants to Purchase Common Shares

The following table provides a reconciliation of all US$ warrants for the three months ended September 30, 2012 and 2011:


	Three Months Ended September 30,
	2012					2011
	Number of Warrants			Weighted Average Exercise Price		Number of Warrants			Weighted Average Exercise Price

Balance at beginning of period		2,064,710		$	6.17		7,614,748		$	7.35
Issued		623,605			2.50		—			—
Expired		(1,512,210	)		6.60		(2,281,250	)		7.50

Balance at end of period		1,176,105		$	3.67		5,333,498		$	7.29

Exercisable at end of period		552,500		$	5.00		5,333,498		$	7.29

Key Assumptions Used to Apply Option Pricing Model for Options Granted

The Company calculated the Black-Scholes value of employee options awarded during the three months ended September 30, 2012 based on the following key assumptions:


Option life (in years)	6.25
Stock volatility	95	%
Risk-free interest rate	0.83	%
Expected dividends	0	%

Compensation Expense from Stock-Based Payment Awards

The Company’s statements of operations included total compensation expense from stock-based payment awards for the three months ended September 30, 2012 and 2011, as follows:


	Three Months Ended September 30,
	2012		2011
	(In thousands)
Compensation expense included in:
Research and development	$	179	$	147
General and administrative		164		330

	$	343	$	477

2008 Incentive Plan

Stock Option Activity

The following table provides a reconciliation of stock option activity under the 2008 Plan for the three months ended September 30, 2012:


	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
					(in years)		(in thousands)
Outstanding at July 1, 2012		3,053,355	$	3.10
Granted		307,760		2.14

Outstanding at September 30, 2012		3,361,115	$	3.01		7.43	$	310

Outstanding at September 30, 2012 - vested or unvested and expected to vest		3,308,868	$	3.00		7.42	$	310

Exercisable at September 30, 2012		2,119,860	$	2.78		6.86	$	275

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References + Details

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details

Loss Per Share (Tables)

3 Months Ended

Sep. 30, 2012

Potentially Dilutive Securities Excluded from Computation of Diluted Weighted-Average Shares

Potentially dilutive shares at September 30, 2012 and 2011 were as follows:


	September 30,
	2012		2011
Options		3,361,115		2,979,876
Warrants		1,176,105		5,538,977

		4,537,220		8,518,853

Operations and Basis of Presentation (Narrative) (Detail) $ in Millions	3 Months Ended
	Sep. 30, 2012 USD ($)
Operations [Line Items]
Equity financing	$ 40.0
Cash equivalents and marketable securities	$ 17.6

License and Collaboration Agreements (Narrative) (Detail) - USD ($)	1 Months Ended		3 Months Ended			6 Months Ended	12 Months Ended
	Sep. 30, 2012	Jul. 31, 2012	Sep. 30, 2012	Sep. 30, 2011	Jun. 30, 2011	Dec. 31, 2009	Jun. 30, 2011	Jun. 30, 2012	Jul. 31, 2009	Jun. 30, 2008	Jan. 31, 2008
Collaborative Agreements And Contracts [Line Items]
Milestone payment upon FDA approval			$ 25,000,000
Deferred revenue	$ 5,800,000		$ 5,800,000					$ 6,000,000
Performance obligation period over which collaborative research and development revenue is recognized			17 years
Revenue related to agreement			$ 169,000	$ 1,461,000
Capital equipment assets			4,000	221,000
Royalty income			384,000	198,000
Accounts receivable	938,000		938,000					967,000
Alimera
Collaborative Agreements And Contracts [Line Items]
Consideration received in cash	12,000,000		12,000,000
Accrued development cost liabilities	5,700,000		$ 5,700,000
Conditional note received	15,000,000
Milestone payment upon FDA approval	25,000,000
Share in future profits			50.00%
Percentage of Company's share of future profits			20.00%
Pre-profitability net losses percentage			20.00%
Percentage of royalties			20.00%
Percentage of non-royalty consideration received			33.00%
Deferred revenue						$ 18,300,000
Performance obligation period over which collaborative research and development revenue is recognized						21 months 15 days
Revenue related to agreement			$ 19,000	31,000
Pfizer Collaboration Agreement Restated
Collaborative Agreements And Contracts [Line Items]
Consideration received in cash					$ 10,050,000		$ 10,050,000
Deferred revenue					7,750,000		7,750,000
Upfront payment							2,300,000
Collaborative research and development revenue					3,300,000
Pfizer Collaboration Agreement
Collaborative Agreements And Contracts [Line Items]
Performance obligation period over which collaborative research and development revenue is recognized			4 years
Research Funding					$ 500,000		500,000			$ 500,000
Upfront payment							2,300,000
License option right							20,000,000
Development and sales performance milestone maximum							$ 146,500,000
Collaborative research and development revenue			$ 150,000	288,000
Collaborative research and development revenue			6,700,000
Intrinsiq
Collaborative Agreements And Contracts [Line Items]
Consideration received in cash									$ 450,000		$ 1,200,000
Collaborative research and development revenue				1,100,000
Obligated aggregate minimum royalties to be paid											$ 3,550,000
Capital equipment assets		$ 223,000
Bausch and Lomb
Collaborative Agreements And Contracts [Line Items]
Royalty income			384,000	$ 198,000
Accounts receivable	$ 384,000		$ 384,000					$ 442,000

Intangible Assets (Reconciliation of Intangible Assets) (Detail) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Sep. 30, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2012
Finite-Lived Intangible Assets [Line Items]
Asset impairment write-down		$ (14,800)
Amortization expense	$ (193)		$ (833)
Net book value at end of period	4,078			$ 4,226
Patented technologies
Finite-Lived Intangible Assets [Line Items]
Patented technologies Gross carrying amount at beginning of period	39,556		55,422	55,422
Asset impairment write-down				(14,830)
Foreign currency translation adjustments	829			(1,036)
Gross carrying amount at end of period	40,385			39,556
Accumulated amortization at beginning of period	(35,330)		$ (33,858)	(33,858)
Amortization expense	(193)			(2,037)
Foreign currency translation adjustments	(784)			565
Accumulated amortization at end of period	(36,307)			(35,330)
Net book value at end of period	$ 4,078			$ 4,226

Intangible Assets (Narrative) (Detail)	3 Months Ended
Intangible Assets (Narrative) (Detail)	Sep. 30, 2012 USD ($) yr	Dec. 31, 2011 USD ($)	Sep. 30, 2011 USD ($)	Jun. 30, 2012 USD ($)
Intangible Assets [Line Items]
Amortization expense	$ 193,000		$ 833,000
Intangible assets, net	4,078,000			$ 4,226,000
Amortization expense per year	$ 780,000
Estimated remaining useful life \| yr	5.25
Milestone payment from Alimera	$ 25,000,000
Impairment of finite-lived intangible assets		$ 14,800,000
Maximum
Intangible Assets [Line Items]
Market capitalization		82,000,000
Minimum
Intangible Assets [Line Items]
Market capitalization		$ 23,100,000
Durasert
Intangible Assets [Line Items]
Intangible assets, net	2,800,000
BioSilicon
Intangible Assets [Line Items]
Intangible assets, net	$ 1,300,000

Marketable Securities (Schedule of Amortized Cost, Unrealized (Loss) Gain and Fair Value of Available-for-Sale Marketable Securities) (Detail) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Schedule of Available-for-sale Securities [Line Items]
Marketable securities, Amortized Cost	$ 9,258	$ 9,954
Marketable securities, Unrealized (Loss) Gain		(8)
Marketable securities, Fair Value	9,258	9,946
Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Marketable securities, Amortized Cost	6,061	5,958
Marketable securities, Unrealized (Loss) Gain	(1)	(8)
Marketable securities, Fair Value	6,060	5,950
Commercial paper
Schedule of Available-for-sale Securities [Line Items]
Marketable securities, Amortized Cost	2,697	3,046
Marketable securities, Unrealized (Loss) Gain	1
Marketable securities, Fair Value	2,698	3,046
Certificates of deposit
Schedule of Available-for-sale Securities [Line Items]
Marketable securities, Amortized Cost	500	950
Marketable securities, Unrealized (Loss) Gain
Marketable securities, Fair Value	$ 500	$ 950

- Definition

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale.

+ References + Details

Marketable Securities (Narrative) (Detail) $ in Thousands	3 Months Ended
Marketable Securities (Narrative) (Detail) $ in Thousands	Sep. 30, 2012 USD ($) mo	Sep. 30, 2011 USD ($)
Schedule of Available-for-sale Securities [Line Items]
Marketable securities purchased \| $	$ 2,799	$ 3,731
Marketable securities matured and sold \| $	$ 3,450	$ 3,400
Weighted average maturity	3.2
Minimum
Schedule of Available-for-sale Securities [Line Items]
Marketable securities maturity period	0
Maximum
Schedule of Available-for-sale Securities [Line Items]
Marketable securities maturity period	8

- Definition

The cash outflow from purchases of trading, available-for-sale securities and held-to-maturity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26853-111562

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Investing Activities
-URI http://asc.fasb.org/extlink&oid=6516133

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 13
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3213-108585

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 17
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 17
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The cash inflow associated with the aggregate amount received by the entity through sale or maturity of marketable securities (held-to-maturity or available-for-sale) during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26853-111562

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 12
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3179-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Investing Activities
-URI http://asc.fasb.org/extlink&oid=6516133

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 16
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 16
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements (Assets and Liabilities Carried at Fair Value Measured on Recurring Basis) (Detail) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Assets:
Cash equivalents	$ 7,187	$ 4,292
Marketable securities
Marketable securities	16,445	14,238
Corporate bonds
Marketable securities
Marketable securities	6,060	5,950
Commercial paper
Marketable securities
Marketable securities	2,698	3,046
Certificates of deposit
Marketable securities
Marketable securities	500	950
Quoted prices in active markets (Level 1)
Assets:
Cash equivalents	7,036	4,042
Marketable securities
Marketable securities	11,312	7,726
Quoted prices in active markets (Level 1) \| Corporate bonds
Marketable securities
Marketable securities	4,276	3,684
Significant other observable inputs (Level 2)
Assets:
Cash equivalents	151	250
Marketable securities
Marketable securities	5,133	6,512
Significant other observable inputs (Level 2) \| Corporate bonds
Marketable securities
Marketable securities	1,784	2,266
Significant other observable inputs (Level 2) \| Commercial paper
Marketable securities
Marketable securities	2,698	3,046
Significant other observable inputs (Level 2) \| Certificates of deposit
Marketable securities
Marketable securities	500	$ 950
Significant unobservable inputs (Level 3)
Assets:
Cash equivalents
Marketable securities
Marketable securities
Significant unobservable inputs (Level 3) \| Corporate bonds
Marketable securities
Marketable securities
Significant unobservable inputs (Level 3) \| Commercial paper
Marketable securities
Marketable securities
Significant unobservable inputs (Level 3) \| Certificates of deposit
Marketable securities
Marketable securities

Fair Value Measurements (Liabilities Measured at Fair Value on Recurring Basis) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in fair value of derivative - other income		$ 42
Significant unobservable inputs (Level 3)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period		170
Change in fair value of derivative - other income		42
Balance at end of period		$ 128

Stockholders' Equity (Narrative) (Detail)	1 Months Ended	3 Months Ended		9 Months Ended
Stockholders' Equity (Narrative) (Detail)	Aug. 31, 2012 USD ($) $ / shares yr shares	Sep. 30, 2012 USD ($) $ / shares shares	Sep. 30, 2011 $ / shares shares	Sep. 30, 2012 USD ($) shares	Jun. 30, 2012 shares	Jun. 30, 2011 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued to institutional investors	2,494,419
Number of warrants to purchase shares of common stock issued	623,605
Proceeds from issuance of common stock and warrants \| $	$ 5,400,000
Issue price per unit \| $ / shares	$ 2.15
Percentage of warrants on common stock	25.00%
Warrant exercise price \| $ / shares	$ 2.50
Term of warrants \| yr	5
Stock issuance costs \| $	$ 694,000
Outstanding warrants remaining contract life		4 years 1 month 6 days		4 years 1 month 6 days
Options granted with annual vesting		307,760
Vesting period of granted options		4 years
Fair value of options granted \| $ / shares		$ 1.65
Options vested during the period		451,826
Contractual life of option grants		P10Y
Unrecognized compensation expense \| $		$ 1,300,000		$ 1,300,000
Unrecognized compensation expense weighted average period				1 year 10 months 24 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding warrants remaining contract life		3 years 3 months 18 days		3 years 3 months 18 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding warrants remaining contract life		4 years 10 months 24 days		4 years 10 months 24 days
2008 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Common Stock Authorized for Stock-Based Awards		4,841,255		4,841,255
Options granted with annual vesting		307,760
Vesting period of granted options				3 years
Employee Share Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual life of option grants				P5Y
Remaining options expired exercised		112,500
Warrants \| A$ warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants, Balance at Beginning of period			205,479
Number of Warrants, Expired			205,479
Number of Warrants, Issued		0	0
Number of Warrants Exercisable at end of period		0	0
Weighted average exercise price of warrants \| $ / shares			$ 7.68
Warrants \| US$ Warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants, Balance at Beginning of period		1,176,105	5,333,498	1,176,105	2,064,710	7,614,748
Number of Warrants, Expired		1,512,210	2,281,250
Number of Warrants, Issued		623,605
Weighted average exercise price of warrants \| $ / shares			$ 7.52

Stockholders' Equity (Warrants to Purchase Common Shares) (Detail) - Warrants - US$ Warrants - $ / shares	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Schedule Of Outstanding Options And Warrants [Line Items]
Number of Warrants, Balance at beginning of year	2,064,710	7,614,748
Number of Warrants, Issued	623,605
Number of Warrants, Expired	(1,512,210)	(2,281,250)
Number of Warrants, Balance at end of period	1,176,105	5,333,498
Number of Warrants, Exercisable at end of period	552,500	5,333,498
Weighted Average Exercise Price, Balance at beginning of year	$ 6.17	$ 7.35
Weighted Average Exercise Price, Issued	2.50
Weighted Average Exercise Price, Expired	6.60	7.50
Weighted Average Exercise Price, Balance at end of period	3.67	7.29
Weighted Average Exercise Price, Exercisable at end of period	$ 5.00	$ 7.29

Shareholders' Equity (Stock Option Activity) (Detail)	3 Months Ended
Shareholders' Equity (Stock Option Activity) (Detail)	Sep. 30, 2012 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Granted	307,760
2008 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Beginning balance	3,053,355
Number of Options, Granted	307,760
Number of Options, Ending balance	3,361,115
Number of Options, Outstanding - vested or unvested and expected to vest	3,308,868
Number of Options, Exercisable	2,119,860
Weighted Average Exercise Price, beginning balance \| $ / shares	$ 3.10
Weighted Average Exercise Price, Granted \| $ / shares	2.14
Weighted Average Exercise Price, ending balance \| $ / shares	3.01
Weighted Average Exercise Price, Outstanding - vested or unvested and expected to vest \| $ / shares	3.00
Weighted Average Exercise Price, Exercisable \| $ / shares	$ 2.78
Weighted Average Remaining Contractual Life, Ending balance	7 years 5 months 5 days
Weighted Average Remaining Contractual Life, Outstanding - vested or unvested and expected to vest	7 years 5 months 1 day
Weighted Average Remaining Contractual Life, Exercisable	6 years 10 months 10 days
Aggregate Intrinsic Value, Ending balance \| $	$ 310
Aggregate Intrinsic Value, Outstanding vested or unvested and expected to vest \| $	310
Aggregate Intrinsic Value, Exercisable \| $	$ 275

Shareholders' Equity (Key Assumptions Used to Apply Option Pricing Model for Options Granted) (Detail) - 2008 Incentive Plan	3 Months Ended
	Sep. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option life (in years)	6 years 3 months
Stock volatility	95.00%
Risk-free interest rate	0.83%
Expected dividends	0.00%

Shareholders' Equity (Compensation Expense from Stock-Based Payment Awards) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 343	$ 477
Research And Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	179	147
General And Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 164	$ 330

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References + Details

Income Taxes (Narrative) (Detail) - USD ($)	3 Months Ended
Income Taxes (Narrative) (Detail) - USD ($)	Sep. 30, 2012	Sep. 30, 2011
Income Tax [Line Items]
Income tax benefit	$ 33,000	$ 55,000
Unrecognized tax benefits	0	0
Accrued penalties or interest related to uncertain tax	$ 0	$ 0

Loss Per Share (Potentially Dilutive Securities Excluded from Computation of Diluted Weighted-Average Shares) (Detail) - shares	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities outstanding	4,537,220	8,518,853
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities outstanding	3,361,115	2,979,876
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities outstanding	1,176,105	5,538,977

- Definition

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

+ References

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

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

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

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

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

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

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

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

+ Details